Consumer group and ratings provider Fairer Finance has launched a fair value assessment tool to help financial services firms meet Consumer Duty standards.
Through the newly-launched Fair Value Report tool, firms can assess the value offered by their products by benchmarking them against the wider market on product features, service quality and price. The tool uses complete and continuously maintained datasets, which include every product in the market across a wide range of sectors, including current accounts, savings accounts, personal loans and credit cards, the firm explained. Defaqto unveils Consumer Duty profiles for top 20 model portfolios James Daley, managing director of Fairer Finance, said: "Consumer Duty requires that fir...
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