What happened?
Business Systems, a leading provider of compliance and customer experience solutions, and TCC, a renowned consultancy firm specialising in financial services, and Recordsure, a unique AI RegTech provider, today announced they are joining forces to provide advisory services and ongoing support to address the new Consumer Duty regulations.
Consumer Duty, a transformative piece of legislation, has already come into effect on 31 July 2023. This landmark regulation places significant responsibilities on financial institutions to act in the best interests of their customers, ensuring fair treatment and improved outcomes for all consumers.
Recognising the complexities and challenges that Consumer Duty presents for businesses, Business Systems and TCC have joined hands to provide tailored consultancy services, including:
- Regulatory Gap Analysis: Identify gaps in existing processes and help develop strategies to meet the new Consumer Duty requirements
- Policy and Procedures: Create robust policies and procedures that align with best practices; focusing on products & services, price & value, consumer understanding and consumer support outcomes
- Monitoring and Reporting: Help establish comprehensive reporting systems and detailed insight dashboards to track progress, make informed decisions, and provide evidence for the regulator
- Remediation and Implementation: Review and offer guidance on implementing necessary changes to ensure long-term compliance with the new rules
“We are excited to partner with TCC in this endeavour,” said Adam Kantor, CEO at Business Systems. “This collaboration aligns perfectly with our commitment to empowering organisations with thought leadership advice and cutting-edge solutions to meet regulatory challenges effectively.
“Together, we aim to help our clients embrace Consumer Duty as an opportunity to strengthen customer trust and loyalty.”
“This collaboration aligns perfectly with our commitment to empowering organisations with thought leadership advice and cutting-edge solutions to meet regulatory challenges effectively.
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— Adam Kantor, CEO, Business Systems
“We bring together our exceptional compliance expertise and state-of-the-art technologies to strengthen our clients’ compliance for outcomes that matter to them, their customers and the regulator.
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— Joe Norburn, Group CEO, TCC and Recordsure
“The new consumer duty regulations are a significant change for businesses – and we are committed to helping our clients understand and comply with these regulations,” said Joe Norburn, CEO at TCC and Recordsure.
“We bring together our exceptional compliance expertise and state-of-the-art technologies to strengthen our clients’ compliance for outcomes that matter to them, their customers and the regulator – and ultimately deliver commercial success.
Learn more about how we can support your Consumer Duty needs.
Supporting sources
Frequently asked questions
What does the Business Systems, TCC and Recordsure partnership cover?
The partnership provides advisory services and ongoing support for the Consumer Duty, including regulatory gap analysis, policy and procedures, monitoring and reporting, and remediation and implementation.
When did the Consumer Duty come into effect?
The Consumer Duty came into effect on 31 July 2023 and requires financial institutions to act in the best interests of their customers.
Who is behind the collaboration?
The collaboration brings together Business Systems, a provider of compliance and customer experience solutions, TCC, a financial services consultancy, and Recordsure, an AI RegTech provider.
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- BankingTCC helps retail banks, challenger banks, building societies and specialist banking providers strengthen governance, manage financial crime risk and demonstrate good customer outcomes. Our specialists support Consumer Duty, remediation, regulatory transformation, FCA intervention and compliance assurance programmes through advisory, managed services, specialist resourcing and technology-enabled compliance. With more than 25 years of experience supporting FCA-regulated firms, we help banks respond confidently to regulatory scrutiny while strengthening operational resilience and customer trust.
- General Insurance & ProtectionTCC helps insurers, brokers, MGAs and protection providers evidence fair value, strengthen customer outcomes and identify emerging customer harm. We assess product governance, claims performance, distribution oversight and vulnerability risks, helping firms create regulator-ready evidence, improve operational performance and demonstrate that products and services deliver value throughout the customer lifecycle.
- Lending & Consumer CreditTCC helps consumer credit firms evidence good outcomes, strengthen affordability and vulnerability frameworks, and manage complaints, remediation and regulatory risk. We support lenders with practical, regulator-ready compliance programmes that improve governance, customer treatment and operational resilience.
- Motor FinanceTCC helps motor finance lenders, brokers and providers assess redress exposure, prepare for large-scale customer reviews and strengthen complaints, affordability and Consumer Duty frameworks. We combine regulatory advisory, managed operations, specialist resource and technology-enabled assurance to deliver consistent customer outcomes, robust governance and regulator-ready evidence under heightened FCA scrutiny.
Reviewed by TCC Group Editorial Team