ALPHERA Financial Services UK

Consumer Duty launched a year ago today and to mark the occasion, ALPHERA Financial Services is doubling down on its commitment to elevating standards and supporting its Partners, with the introduction of our Consumer Duty Code of Excellence. Since its introduction in July 2023, Consumer Duty has marked a positive change for the industry, playing an important role in strengthening the relationship between lenders, vehicle retailers and customers. Our Code seeks to elevate the standard further with six clearly defined promises that encourage clarity and consistency in its implementation, with a focus on specific processes and outcomes that Partners can embrace. The Consumer Duty promises: 1. We are committed to the continuous improvement of our services in line with Consumer Duty 2. Ensuring ‘good customer outcomes’ is at the heart of everything we do 3. We empower customers to make informed decisions by giving them the right information at the right time  4. We can demonstrate that our prices represent fair value for every customer 5. We recognise that every customer is different 6. Our duty of care to customers continues for the lifespan of the finance agreement and beyond A number of our dealer and broker Partners have already adopted the Code, including: Marriott Motor Group Limited Octane Finance Howards Motor Group VR EPS (Elite, Prestige, Supercars) Warrington LTD Phantom Motor Company Hippo Motor Group Eastern Western Motor Group To find out more about our Code of Excellence, visit: https://lnkd.in/d8Nrf-Hi

When you become an ALPHERA Partner, you'll be given a Business Development Manager who will be your point of contact for all the advice, assurance and training you need. We pride ourselves on the personal approach and guidance we offer - that's why we were delighted to receive a 95% satisfaction score from our Partners for the support they have received from their Business Development Managers in our Voice of the Partner survey. This score, and the overall positive feedback from the whole survey, is a testament to the dedication and commitment of the entire ALPHERA team and we are grateful to our Partners for sharing their thoughts and insights with us. Rest assured, we take every comment and suggestion seriously, and we are dedicated to implementing changes that will further enhance the support and resources we provide.

At ALPHERA, we're continuing to share the results of our recent Voice of the Partner survey. While there are areas where we can improve, we're thrilled that product satisfaction scored 91% when asked how well ALPHERA's products fit with customer stock profiles. We aim to provide more opportunities for our dealer and broker Partners by offering more choice and flexibility for customers. If you'd like to know more about our motor finance products, visit: https://lnkd.in/dj_QAdN5

It’s been nearly a year since Consumer Duty came into force and in that time, we have continued to support our dealer and broker Partners with comprehensive guidance to ensure they continue to be compliant - as well as helping them prepare for the launch of Consumer Duty. When we asked our Partners how satisfied they were with the support from ALPHERA for Compliance Monitoring and Consumer Duty in our Voice of the Partner survey, we were delighted to receive such positive feedback. As another deadline for Consumer Duty looms, we're continuing to offer support and guidance on our Partner Hub. https://lnkd.in/eP-e-WUE

It's important for us to make sure we're providing the best service and products to our dealer and broker Partners. That's why we conducted our Voice of the Partner survey - to see what we're doing well and areas for improvement. We're thrilled at the overall positive feedback, with a significant proportion of our Partner network scoring ALPHERA 80% or above for overall satisfaction. Thank you to our Partners who have provided us with valuable feedback.

At ALPHERA, we're committed to providing valuable resources for our dealer and broker Partners to help them succeed. That's why we're delighted to have received such positive feedback about our Partner Hub, with our dealer and broker Partners highlighting that it's a great area for current and historic information. If you're an ALPHERA Partner, make sure you check out the resources available on the hub here: https://lnkd.in/eP-e-WUE

As we continue to share the positive results from our Voice of the Partner survey, it's important to address the constructive feedback we have received as well. We recognise that the reality of business is that there is always an opportunity to improve, to strive for more, and to be better. We believe in being open about our progress and challenges, which is why Director of ALPHERA Financial Services, Alex Royall, addresses some of the constructive feedback we received and the actions we are taking to address them in this article.

It’s important that we make sure we're providing as much guidance and support as possible to our dealer and broker Partners when it comes to Compliance Monitoring and Consumer Duty. It's a continuous requirement and with upcoming deadlines looming, we aim to make sure our Partners feel confident they are up to date. That's why we're delighted that we received a 90% satisfaction score from our Partners for Compliance Monitoring and Consumer Duty guidance and support. Robust guidance is available to all our dealer Partners at the Partner Hub: https://lnkd.in/eP-e-WUE

At ALPHERA, we pride ourselves on offering motor finance products that provide our Partners' customers with choice and flexibility. Our recent Voice of the Partner survey asked for feedback on our products, and we were delighted with the positive responses. Our Partners highlighted that we “offer all the products our customers want and are now more flexible on older cars”. If you're interested in finding out more about our products, visit: https://lnkd.in/dj_QAdN5

Huge congratulations to our colleagues at BMW Financial Services (GB) Ltd for winning the 'Diversity & Inclusion Trailblazer' award at this year's Credit Awards.    We are delighted to see our team’s outstanding commitment to fostering an inclusive work environment that embraces diversity being recognised. This award highlights the exceptional efforts made by our colleagues in promoting equality and creating a culture where everyone feels valued and respected.    Well done everyone!