Face-to-face regulatory mystery shopping service

Over the past 15 years we have worked with many of the UK’s banks managing outsourced face-to-face sales projects. We have seen massive changes in the industry in that time. Apart from the obvious advancement of technology, the most significant change has been on the regulatory side.

With Credit Broking now under the regulatory umbrella of the Financial Conduct Authority, retailers who offer consumers credit have had to work out how to ensure they have effective governance and compliance controls in place.

In a call centre it’s relatively straightforward because you record the calls and monitor the interactions to check that the customer outcome is a fair one.

With face-to-face sales interactions it’s much more difficult and there’s a gap in some organisations’ compliance framework, where there is no independent monitoring of the sales activity of customer facing staff.

ODM’s mystery shopping service has been designed to give those responsible for managing conduct risk, governance and sales, a level of oversight and some peace of mind.

ODM Auditing

An audit plan is structured to ensure that all staff who sell FCA regulated products face-to-face, receive covert mystery shopping visits on a regular basis. These mystery shops are scored by the assessor against a series of measures agreed with the client, with Conduct Risk measures weighted more highly. We offer real time data, feedback and analysis, as well as audio and video recording options.

ODM is fully FCA regulated (including full authorisation for Credit Broking) and this combined with our experience of running customer acquisition programmes, gives us a unique perspective on the rights and wrongs of regulated sales and what to look out for when undertaking face-to-face audits.

If your organisation offers credit or finance face-to-face and doesn’t have a robust, independent mystery shopping programme in place, then please get in touch.

Contact us for more information

ODM Auditing infographic