CCRi Conference 2015

theAffordabilityAssessmentcentre

theAffordability

Assessmentcentre

What is the Affordability Assessment

CentreAn independent assessment and repository service. Detailing the customers’ complete income and expenditure and financial circumstances not visible elsewhere.

theAffordability

Assessmentcentre

Why Use TAAC

Put customers at the heart of everything you do. Empowering them to manage their financial health

Demonstrate adherence to evolving FCA Regulation and works with your customers to ensure they are supported and treated fairly

Improves communication across the customer journey therefore reducing multiple contacts by creditors

AffordabilityAssessment

Regulatory Compliance

Efficiency & Communication

theAffordability

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The Customer Benefits

Helps to assists with financial budgeting

Puts them in control

Easy and secure access

Maintain income and expenditure information

theAffordability

Assessmentcentre

Ability to update and verify information, view, download and print reports

theAffordability

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The Client Benefits

An ongoing independent customer affordability

assessment allowing you to focus on your core business

Helping you meet your regulatory requirements

Provides a clear indication of your customers’ financial position

Helps you make the right decisions toward an affordable repayment

plan with your customer

theAffordability

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Ability to view your portfolio and assess each customer on an individual basis

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How it works

summary

Assessment carried out by a fully trained assessment officer

Verification of information

Copy of completed assessment to customer and

client

Assessment retained in central data bank

Access for customer to

obtain &update

informationAccess for client to search data bank

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Why?

“If we are going to build a sustainable and healthy credit market for the future, that works in the interests of consumers and firms with sustainable business models, getting affordability assessments right could be the most important factor in helping people avoid unmanageable debt.”

Christopher Woolard, director of strategy and competition at the FCA