Acre releases industry-first Consumer Duty dashboard
Acre’s Consumer Duty dashboards are tailored for each user profile, giving them actionable insight that help them write compliant business. Individual brokers can monitor their own cases while managers have visibility across their team’s performance. Networks and larger firms can track compliance across multiple firms and self-employed advisors. These reports allow firms to target, and stay compliant with, specific regulatory standards and ensure fair treatment across all clients.
The Consumer Duty dashboards offer live data analysis, continuously monitoring all client and case information within Acre, so brokers and principals can make informed decisions. Some examples of the insights provided include tracking key metrics, such as the number of cases where standard fees were amended, lender and insurer concentration, and service levels for vulnerable customers compared to all clients. This, and many more actionable insights, enables firms to assess and refine their practices in real time. Additionally, the dashboards allow easy filtering to focus on specific Consumer Duty outcomes, including Products and Services, Price and Value, Consumer Understanding, and Consumer Support.
Acre’s Consumer Duty dashboards are already available in early release for several clients and will be rolled out to all customers in the coming months.
Justus Brown, CEO and founder of Acre said:
“Since Consumer Duty came into force last summer, the industry has seen a marked shift in the way they do business. We’ve built the Acre Consumer Duty dashboard to deliver tangible metrics of what that looks like. This way everyone can truly understand how the demands of such regulations are impacting their business. Acre has always believed in compliance by design where technology helps ensure the right advice is given - and this is another example of how this innovative approach can improve brokers' business performance.”
Darren Polson, Head of Mortgage Operations at Aberdein Considine said:
“We have been privileged to be one of the first to have access to Acre's Consumer Duty dashboard and it has not disappointed. The information presented is clear, well laid out and visually impressive, with clear consideration of what us, as brokers, need to meet Consumer Duty requirements. It reassures us that we can quantify commentary when looking at the four outcomes, especially in areas like lender details, average case times and what percentage of cases are higher risk.”