Treating Customers Fairly Policy
Treating Customers Fairly (TCF) is a concept first introduced in the Financial Services space and now adopted by various players across industries. It is the conduct Perfecting Educational Output (PEO) subscribes to.
It focuses on ensure fairness, clarity, transparency and due regard for consumers using PEO services as well purchasing products/services from our associates, partners and merchants.
Even though PEO has carefully selected its service partners for its business, it does not stand guarantee of any services or products offered by any of the service providers on our platform and that we encourage the customers to select these services / products at sole discretion, we expect all our associates to treat our customers fairly. We encourage our customers to raise any dissatisfaction with the service provider and should they not find any joy, the matter may be brought to PEO so as to try facilitate a resolve. The Customer has all the right to raise their dissatisfaction with relevant authorised bodies at any point in time they deem it necessary.
PEO incorporates TCF into the way the company conducts business every day and in the way that we deal with our clients. We may not outsource this responsibility to another party. We have an internal process followed in ensuring that we adhere to our commitments and are constantly studying different industries, in which our partners belong so as to ensure that we lay foundation of what should represent and reflect TCF approach.
- Our TCF Pillars
Our approach to TCF is adopted across all our companies and are reflected into the following broader organizational structures and processes:
- Leadership: The PEO leadership provides direction and monitor the delivery of TCF behaviours and outcomes.
- Strategy: The TCF pillars are not merely stated vision and values, but built into our strategic and business plans.
- Decision-making: Decision-making protocols ensure that all decisions that impact on customers are subject to the challenge implicit in our TCF strategy.
- Governance and controls: Our governance structures and control mechanisms are designed to cater for TCF commitment and identification of TCF risks.
- Performance management: Our staff and representatives are trained to deliver appropriate TCF outcomes. TCF deliverables form part of our staff Key Performance Areas (KPA)
- Treating Customers Fairly Fairness Outcomes
We have incorporated the following Two (2) outcomes into our business operations:
Outcome 1: Clients are comfortable that they are dealing with an organization where the fair treatment of customers is central to the company offerings:
- Management involves various committees within the organization to ensure practical TCF approach in how we run the business
- We frequently revisit the consideration that informed our business
- We continuously talk about the treatment of clients and how to have a unified approach with our team
- We do a reasonable due diligence on other businesses before contracting with them.
- TCF is a constant agenda item in our various committee meetings and the Board and Executives
- TCF responsibilities are allocated to management and staff to ensure a high level of awareness.
- Our attention to TCF extends to conflict of interest and upholding the best interest of our clients at all times
Outcome 2: Products and services marketed within the PEO structure, especially those offered by our Gold, Platinum and Premium Partners are expected to satisfy our commitment to TCF.
- We extensively consider the profile of the end client when promoting any of the services on our program
- TCF standards influence our choice of who and how we allow to ‘promote’ or distribute our service
- We strive to understand who our client is, including individual Loyalty card holders and how our TCF approach impacts on their experience of PEO service
- Should we discover misrepresentation of our services, a full review and due diligence process would again be undertaken – where need be partnerships with the offending parties may be discontinued
- We are highly accessible to both our customers and service partners and are committed to ensuring that the product/service information we avail to our stakeholders remains current:
- It is NOT core offering of PEO to make any advice and or recommendations on which services or products are best suited for the needs of the customer, especially if privately procured, outside the PEO platform and PEO employees are restricted from making any such, however where customers receive such, the customer still has the responsibility to make necessary checks and make a decision best suited for them, at sole discretion.
PEO will continuously review its TCF Policy to ensure it upholds maximum customer cantered services
Updated on 05/10/2021 – 1