Following the recent announcement from the Financial Conduct Authority (FCA) many of our legal claims firm customers are welcoming the ruling as good news for their clients.  Here are some of the main reasons why:

  1. Claims can still be made if the discretionary (DCA) model of calculating commission had been applied (between 2007-2021). 
  2. The ruling only relates to fixed commission
  3. There is now a clear timeline to a redress scheme
  4. The judgement allows for at least some fixed amount to be claimed
  5. The judgement substantially reduces, or removes entirely, the risk of government intervention to protect the lenders

VSiD are supporting our legal claims firm clients with the anticipated increase in volume of claims with a customised digital onboarding solution that can be embedded into their online web application form.  The solution has been proven to ensure:

  1. Lower drop off rates during the onboarding process with an intuitive, firm branded end user experience
  2. More efficient processing with the use of dynamic SmartForms to collate client data and deliver it directly to our client’s PMS/CMS, reducing keying errors and saving time
  3. Reduction in risk to the firm with integrated digital ID checks that identify claimants with 100% accuracy
  4. Hassle free compliance with re-verifiable eSignature and ID verification certificates for regulators, insurers and other relying parties.

If you are a legal claims firm and would like to find out more, don’t hesitate to contact the VSiD team on 0207 965 7479 or email enquiries@vsid.com