July 5, 2019 11:55 PM
July 5, 2019 11:55 PM
Building and restoring trust through best practice is key to success for financial services firms. With demands for transparency and better customer outcomes now the norm, the financial services sector is required to demonstrate its capability and to raise its game through higher standards. Higher standards are a major factor in building trust in financial services and one which the Gold Standard Awards fully supports.
Financial services firms that have a well-established corporate culture, alongside transparent structures and procedures are in the best position to demonstrate they are achieving higher standards to help build a better, more sustainable financial services sector in the UK.
The Gold Standard Awards have been supporting higher standards in financial services in the UK for the past 17 years. During this period, economic, political and regulatory changes have witnessed a drive towards greater accountability and a call for firms to go beyond standard practice to fulfil customer needs.
The awards not only take account of a company's capability to conduct business, but assess standards of service, financial strength, fair value and trust, as well as governance and social responsibility which reflect the current financial landscape.
The awards recognise that assessing a wide range of factors helps to gain a more rounded picture of whether structures in place have the customer at heart and are sustainable enough to meet the requirements of an ever-evolving financial services sector.
One of the advantages of such a comprehensive assessment is that it can act as a self audit of processes and procedures already in place, giving firms a clearer indication of how practices and processes impact clients. The awards do not operate a system of winner and highly commended. All those who pass the appropriate measurements and judging can achieve a Gold Standard. More than one entry can achieve Gold Standards in the same category.
Entry is confidential. Those who do not make the standard are not publicly revealed.
Click here for the 2018 winners.