What is TCF?

Treating Customers Fairly (TCF) is an approach to market conduct regulation that is being implemented in the South African financial services sector.

TCF is not just about rules; it is about an ethical way of doing business in a sustainable manner. It is about having a mindset which places the customer at the centre of all business activities and decisions.

It is about making measurable progress in achieving the six TCF outcomes.

What does TCF aim to achieve?

In adopting the TCF principle, where we as Natsure recognise that fair treatment of our customers is about adding value to the service we offer by aiming to:

• Protect the interests of our customers at each stage of the product life cycle• Meet as best we can the unique needs of each customer

The 6 outcomes of TCF

Outcome 1:

Customers are confident that they are dealing with firms where the fair treatment of customers is central to the firm culture.

Outcome 2:

Products and services marketed and sold in the retail market are designed to meet the needs of identified customer groups and are targeted accordingly.

Outcome 3:

Customers are given clear information and are kept appropriately informed before, during and after the time of contracting.

Outcome 4:

Where customers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5:

Customers are provided with products that perform as firms have led them to expect, and the associated service is both of an accept-able standard and what they have been led to expect.

Outcome 6:

Customers do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint.