The issue of addressing the fair treatment of customers throughout the product life-cycle comprises: •  Product design and governance;  •  Identifying target markets;  •  Marketing and promoting the product;  •  Sales and advice processes;  •  After-sales information; and  •  Complaint handling. These issues will create challenges for banks.
They may have to adapt the management, reward and operating systems they currently use and enhance the controls they have in place to monitor whether they are meeting the FTC requirement. Thus, there is a need to develop a better, and common, understanding of what FTC means in practice. Banks need to examine what most effectively constitutes fair treatment of customers.