T C Harrison Group, one of the largest family-run Ford dealer networks in the UK, has selected Comentis, a RegTech provider, to better assess financial vulnerability amongst its customers.
T C Harrison Group will deploy Comentis’ Financial Vulnerability Assessment tool across its seven authorised Ford dealerships and leasing division, making the assessment available to all retail customers, irrespective of whether they are taking credit or not to ensure that they are appropriately supported throughout the process.
Fully aligned to the FCA’s four drivers of vulnerability, the Comentis tool is a one-of-a-kind assessment that enables automotive organisations to consistently identify vulnerable client activity. Combining cutting-edge technology with the clinical expertise of renowned mental health and psychology specialists, the tool is an accessible and cost-effective digital assessment, which is seamlessly integrated into the automotive organisation’s existing sales process.
The tool will also provide users with a clear and consistent audit trail, whilst driving objectivity and consistency across the vulnerability assessment process. This will allow the T C Harrison team to adopt best practice when it comes to identifying and supporting their vulnerable clients, and to ensure that no one goes unidentified.
John Honeywood, Group Financial Controller and Company Secretary at T C Harrison Group, said: “We are well aware of the importance of identifying and supporting our vulnerable customers here at T C Harrison. It’s paramount to ensure that all our team members are able to fully assess customer vulnerability correctly and then of course support those customers appropriately.
“We have made the decision to carry out these checks on all our retail customers, no matter whether they decide to take a credit agreement or not. This highlights just how important the issue of vulnerability is to us as a firm. We are already working closely with the Comentis team training up our staff. Comentis’ combination of cutting-edge technology, developed with clinical knowledge, will be invaluable to ensuring all at-risk customers are identified and supported correctly.”
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