"Since Consumer Duty came into force last summer, the industry has seen a marked shift in the way they do business."
- Justus Brown, CEO and founder of Acre
Acre has launched a new Consumer Duty dashboard, offering advisers and networks full insight into their Consumer Duty compliance (case-by-case and adviser-by-adviser) with tangible metrics.
Acre’s Consumer Duty dashboards are tailored for each user profile, giving them actionable insight to 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 advisers. 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. 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.”
