SYNERGY STORY

TREATING CUSTOMERS FAIRLY

Our business has prospered over the last decade by ensuring we put our clients first and provide them with the very best leasing experience. We continue to follow the six consumer outcomes laid out by the Financial Conduct Authority (FCA) below:

1. Consumers can be confident they are dealing with firms where the fair treatment of customers is central to the corporate culture.
   Our customers are at the heart of our business and we take the time to listen to them and understand their needs.
   
2. Products and services promoted and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
   We make sure we match the right product to our customer's individual requirements. As well as making clear the benefits of the product, we highlight any risks or considerations that may need to be taken into account.
   
3. Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
   We ensure that all documentation before, during and after the sale is clear, straightforward and sent to our customers in a timely manner.  
   
4. Where consumers receive advice, the advice is suitable and takes account of their circumstances.
   We make sure we understand our customers’ requirements as well as their individual circumstances so that we can offer suitable, clear advice.
   
5. Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
   All of our customers receive written information about their leasing agreement prior to commitment. In addition, our Account Managers, Client Services Team and other members of staff are aware of and compliant with FCA regulations.
   
6. Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
   We ensure all of our customers are treated fairly and with respect. Furthermore, our complaints policy is displayed on our website and any complaints are dealt with promptly and satisfactorily, with any future learnings taken into account.

 ASSESSING AND IMPLEMENTING OUR TCF PRINCIPLES

• Synergy’s marketing and financial promotions are developed to ensure that they are appropriate for the target audience and are presented in a clear, fair and not misleading manner. They are also reviewed and signed off as approved by the Compliance Manager.
• Communication of the application process, key details of the product and disclosure of the customer’s rights are provided in a number of formal documents before and after the customer enters into an agreement. There are no hidden terms, conditions or fees and they are written in easy to understand language. Quotations and order forms are presented in a format which are easily legible and understood.
• All calls are recorded for quality and training purposes so customers can be confident that any conversations can be relied upon at a later stage if required.
• Our customers view of their leasing experience with Synergy Automotive is important to us so we work with independent feedback company - Feefo to gain feedback. We also monitor our Net Promoter Score (NPS) within Feefo. Feefo is reviewed regularly in Sales Meetings, responded to and any learnings taken into account in future decision making.
• We take our customers’ data seriously, and ensure all staff are trained to keep our customers’ details secure and confidential.

 MANAGEMENT INFORMATION (MI)

Management Information (MI) is vital for firms in analysing trends and assisting in identifying and solving any problems which are identified. Firms should use it to monitor customer treatment, expectations and outcomes.

This information – whether anecdotal or quantified – should be active rather than merely reactive. It should identify future risks rather than just dealing with known problems and should be acted on as required.

MI has no purpose if it is not used, and firms can improve their service and business performance with good MI. How the firm uses and collects MI is down to the directors and senior management of the firm.

Awareness/Training

TCF is already instilled in the culture of Synergy. Synergy ensures its teams are trained and competent in order to provide our service to the level of satisfaction the client expects. In addition, all teams are provided with internal training on the fundamental principles of TCF, including BVRLA e-learning modules.

Synergy Car Leasing operates a remuneration model that mitigates sales bias and rewards non-sales staff so as to not impact negatively on the treatment of clients.

Complaints

Synergy's Complaints Policy is clearly displayed on our website and is also detailed in our Initial Disclosure Document.  We aim to deal with complaints swiftly in accordance with FCA rules, and as a member of the BVRLA, we have access to a conciliation service if required.  All complaints and queries are logged and the outcome noted in the Complaints Log, which is reviewed and analysed in Management Meetings

Synergy Car Leasing regularly reviews our processes, policies and procedures to ensure that TCF remains at the heart of our business.  Any learnings are taken into account and are used to help shape any strategic decisions and the future direction of the company. Please see our full Treating Customers Fairly Policy for further information.