NMC upbeat after meeting minister iVendi updates

to comply with new FCA rules

RETAIL TECHNOLOGY specialist iVendi has released a range of product enhancements to help dealers and lenders comply with tough new consumer protection responsibilities.

The upgrades, built into the firm’s online customer management systems, are directly targeted at the Financial Conduct Authority’s Consumer Duty protection standards.

Rob Severs, senior VP of product and insight at iVendi said: “Since the FCA first announced Consumer Duty, we’ve been looking at ways our technology can be used to power compliance, especially when it comes to the four outcomes covering products and services, price and value, consumer understanding and customer support.”

Finance Video Help

According to iVendi, the central point for the enhancements is a new Consumer Duty page. This includes lender-specific data and product videos which provide all the relevant information, features and benefits of the specific finance product. Suitability assessments consist of a series of questions, specific to each finance product provided by the lender, which the customer must answer before proceeding to the application. If the customer is unable to show they understand the product, they won’t be able to complete the application and will be referred to the retailer, who can then find the right product for them.

There are links to government financial advice and the lender’s support resources, providing help for consumers – especially those classed as vulnerable by the FCA – and helping to ensure they understand the product and can make an informed decision.

Severs added: “These enhancements will be released well ahead of the 31 July FCA deadline, and we’re already having conversations with lenders and dealers about the best ways to integrate them into their Consumer Duty processes.”

The National Motorcyclists Council (NMC) has released a positive message after a sit-down meeting with transport minister Richard Holden MP. And, according to the NMC, the minister is open to developing better government policies on motorcycling.

An NMC delegation that included members from the British Motorcyclists Federation (BMF), IAM RoadSmart and the Trail Riders Fellowship (TRF) held wideranging talks with Holden, with a focus on the role of motorcycling in transport policy, advances in PPE protective kit, green lane access, and licensing reform, amongst other areas.

The BMF’s Anna Zee raised the need for emerging ‘smart’ roads and vehicle technologies, plus automated systems, to take motorcycles into account in both R&D and in practice, as well as motorcycle taxation. TRF delegate Graeme Collins highlighted the issue of the confusing patchwork of regulations and how a more common-sense approach to Traffic Regulation Orders (TRO) needs to be established. IAM Roadsmart’s Antony Kildare spoke about the need for improved rider skills, especially amongst gig economy delivery riders, as well as issues around potholes and general road conditions. The NMC’s Craig Carey-Clinch brought up the need for positive changes to Compulsory

Basic Training – announced by the government in 2018 but never implemented, and wider rider licensing policy. This was taken on board, and there was consensus in the meeting about the need to take positive steps on CBT regulation.

Finally, Holden was asked to provide DfT officials with the tools and the mandate needed to develop the work of the recently formed government Motorcycle Strategy Group so that it can move towards creating strategic policies

“But although Mr Holden seems open to developing motorcycling as a transport option, it was evident that the longstanding view that motorcycling is a safety problem to be solved and not a transport opportunity to be supported, is still firmly embedded in some parts of the DfT. NMC members contend that this viewpoint continues to act against motorcycle safety and

Boom in business insolvencies

ACCORDING TO LATEST government figures, the number of corporate insolvencies in England and Wales rose by 51% to 2552 during May, to reach a four-year peak. This total was also 40% higher than in May last year and 89% up on May 2019 – before the pandemic. Rapid insolvency growth has been driven by an increase in creditors voluntary liquidations (CVLs), a process whereby companies can effectively opt to jump before they’re pushed, which have already passed a fouryear high and more than doubled since May 2019.

Commenting on this data, Fran Henshaw, North West chair

Silverstone was the venue for the first Ducati UK Riding Experience Academy event, and the Bologna firm reckons it was a big hit. The DRE track event, formerly run at big European tracks such as Mugello, welcomed 60 riders to the inaugural event on 16-18 May, with some big-name instructors from MotoGP and WSBK. Racers riders get the wild performance of the race-bred Ducati Panigale V4 on the Advance course, while less-experienced riders can join the Intermediate level to help build on-track confidence.

Michele Pirro, Karel Abraham, Chaz Davies, Alex De Angelis, Ferruccio Lamborghini and DRE chief instructor Dario Marchetti, were the top-tier teachers, tasked with showing V4 Panigale-mounted riders the way around the historic Northants circuit as part of a high-end three-day experience based at the Hilton Garden Inn Silverstone. With a combination of DRE and Silverstone’s own instructors, groups of five riders, including media, top customers, and fans benefited from close supervision and tuition, including a track walk with instructors the evening before riding.

Silverstone was just the first

Riding Experiences calendar for 2023. To complete the Riding Experiences portfolio, Ducati UK are also running additional Ducati Track Days for 2023. The first day kicked off at Donington Park GP circuit on 23