Banking
Pensions & Investments
Insurance
Education
Banking
The banking market is going through significant change. New technologies are enabling different ways of working and serving customers, consumer expectations have become more demanding and the regulatory emphasis has fundamentally shifted. The sector is now expected to implement customer centric standards as opposed to following regulatory rules.
Firms are being challenged to learn from past mistakes and to review their business models, cultures and practices to ensure that they result in fair customer outcomes. For many firms this requires a shift from being product and sales centric to customer needs centric.
The regulator will continue to remedy poor conduct with action but also require firms to be more pre-emptive and reflective. Firms that self-diagnose problems and address underlying causes will not only avoid unfavourable attention but also benefit in building a more sustainable business.
Yankho Consult provides expertise across conduct risk strategy and the complete customer case handling life cycle. We can resource and manage your operations helping you ensure good customer outcomes and gain operational cost efficiency.
Pensions & Investments
The pensions and investments sector is undergoing significant change. Managing new legislation and rules such as RDR, pension freedom and auto enrolment adds pressure to what is already a complicated and growing market.
Understanding fees, risk profiles and likely returns can be a challenge for customers. During both the accumulation and the decumulation phases customers need clear advice based on their needs and means. With such significant consequences for customers and rectification being problematic, getting this right is critical.
Pensions and investments has significant regulatory focus and a strong governance framework is therefore more important. Firms need to have the capability to monitor their business for fair customer outcomes, to effectively manage complaints and to undergo remediation where there has been customer detriment.
Through Yankho Consult you can access pensions and investment professionals with experience of policy administration, customer case handling, governance, revenue generation and retention, claims management and customer tracing solutions. We can deploy small and large teams at any of your locations and scale resource up and down as you require. This flexibility helps you to manage your costs as well as increase your speed of response.
In addition you can rely on our operational experience to deliver a fully managed service. We can resource and manage full teams including Operations Managers, Team Leaders, Quality Assurance, Analysts, Case Handlers and Administrators; all overseen by a Project Delivery Manager who is accountable to you for high levels of quality performance and productivity.
As part of a managed service or as business as usual, Yankho Consult recommend that you employ robust outcome testing. Outcome testing provides you with reliable feedback of any regulatory failings, and goes beyond normal quality assurance to identify whether failings are the result of practices, processes or your policies.
Insurance
Whilst Insurance not been subject to the same level of criticism as Retail Banking there are still thematic concerns about the fair treatment of customers.
The conflicts of interest inherent to broking, the rise of aggregator sites and complex terms and conditions all create risk. These factors can mean that customers end up with unsuitable and low value products. In addition complaint volumes are increasing particularly around personal product lines such as life, health travel and home.
Yankho Consult is expert in financial sector regulation, complaint handling and remediation. We can fulfil your requirement for highly professional specialist teams on a temporary basis, giving you the flexibility to manage unpredictable demand without the cost of retaining dedicated resource.
Our project delivery team can support you with the set-up of projects and take operational responsibility for achieving high levels of productivity, high standards of quality and continuous improvement. Most importantly we can monitor the drivers of conduct through outcome testing and root cause analysis to ensure that your customers are treated fairly.
Education
The market for education is one of the fastest growing industries on the planet. The market for online education alone is expected to hit $319.167 billion by 2025. Alexander Maclean is at the cutting edge of digital trasnformation in this space.
The education industry is beginning to feel the impact of digital disruption. Traditional companies are looking to scale their growth by attracting online clients across the globe.
Yankho Consult consultants work with these industries to help deliver bespoke learning management systems that vastly improve student satisfaction and skyrocket sales, through the integration of a sophisticated e-commerce platform.
With over 15 years experience in this field, Alexander Maclean is a market leader in providing lasting, future-proof solutions that provide enduring results for clients.