Motor Finance: Your redress roadmap

The FCA investigation into Motor Finance Discretionary Commission Arrangements (DCAs) will conclude in May 2025. Whilst this is several months away, the redress activity required will cause considerable disruptive operational impacts, along with costs which are expected to be in the millions across the industry. Let Jaywing’s expertise in risk, finance, and efficient redress programs help you plan your approach now, to enable you to navigate this challenge.

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We recognise the unique challenges that lie ahead for motor finance providers and are perfectly positioned to be your strategic partner in the weeks to come.

Jaywing are motor finance specialists, having worked with a wide spectrum of lenders across a range of multi-faceted projects that span risk and finance. Jaywing have also supported many of the UK's leading banks - executing redress programmes effectively, efficiently and accurately, all whilst ensuring BAU activities are not impacted.

Over the years we have developed methods, underpinned by rigorous data processes, to ensure that where required, appropriate redress values are applied to each customer, no matter:

How far back their claim is

The status of the account

Whether debt had been subsequently sold

The recency of address held by you

The presence of deceased, bankruptcy or other event markers on file

Ensuring reputational risk is managed, and standing with the regulator is improved, is critical in the competitive motor finance industry.

Remediation processes are undeniably complex and bespoke but these can be managed effectively if done with rigour, planning, purpose and oversight. No two organisations are the same in terms of their, history, their data or their data history and so a one-size fits all approach will not suffice.

Multiple lines of defence will be needed in order to construct a project that has the right level of robustness.

That's where Jaywing steps in.

We're a team of data analysts, modellers, and motor finance experts with a proven track record of helping companies:

Estimating likely impacts on motor portfolios or validating impacts already performed with sensitivities around the estimates
Defining the data landscape required for an end-to-end project across design, analysis, testing, fulfilment and reporting
Calculating the redress amounts by identifying the eligible population and determining how much the customer is owed
Checking the redress amounts calculated for each customer, either by reviewing the organisation's code, or by performing an independent coding and calculation process then comparing results with the organisation's output
Backfilling the organisation's analytical and modelling teams to ensure other strategic priorities are still being delivered

If your firm has never had to undergo a remediation project before, here are some of the key points you'll need to consider which highlight the complexities of a project of this nature.

Ways of Working

Complex finance projects require expertise, collaboration, and efficiency.

That's why we don't just offer solutions; we become an extension of your team.

Together, we work with you to:

Maximise the skillsets available
Upskill internal teams
Combine resources to cover spikes in BAU or project work without affecting quality.

Jaywing has the expertise to work with you to solve these complex challenges as well as the motor finance knowledge to backfill your analytical teams.

We can support you with:

Data preparation - ensuring that the foundation for the redress activity is as robust as possible
Identifying the eligible population – ensuring that every customer that should be eligible is included, and equally importantly, that any that are ineligible, are not
Redress calculation for the amount of compensation owed – based on fairness, eligibility rules and in a timely way
Issue payment – and applying controls to ensure payments reach the right customers, in the right way
Governance – ensuring there are end-to-end control processes that will stand up to scrutiny by the regulator

Discover more about our approach

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