APD Compliance Solutions has welcomed ex-ALD Automotive Group and ARI Fleet UK managing director Keith Allen as an equity stakeholder and board member.
The appointment coincides with the expansion of its Compliance360 product into the car retailer and broker sectors to assist with monitoring customer feedback and behaviour.
APD's compliance solution enables users to overcome the challenge of evidencing compliance to meet existing and most recent FCA directives.
Allen said: “After seeing the APD Compliance360 platform, it was obvious this was a game-changer.
“From evidencing and monitoring current and any future compliance issues the FCA may raise, its widespread use will assist the automotive sector in taking a proactive lead in self-governance of its responsibilities to customers.”
APD Compliance Solutions said that its Compliance360 platform has the capacity to deliver real-time monitoring of customer behaviour, understanding and satisfaction of the sales process for lenders and their dealer and broker networks.
All stakeholders will have visibility of outcomes and a monitoring device to use to drive continued improvement in both compliance and service levels, it said.
“In my previous roles working closely with brokers and dealers, compliance has always been a major challenge. It is of equal concern inside franchised dealer networks and with the huge growth in personal finance products, internal compliance processes have struggled to keep up with legislative requirements,” said Allen.
“Whilst the use of digital sales platforms have improved the speed and accuracy of the order process, these are unable to meet the areas which FCA research has identified as areas of concern.
“Our role is to work with brokers, dealer groups and independents to improve their processes and behaviour around selling financial products to avoid them suffering sanctions from the finance governing bodies.”