Fairer Finance Champions STAR
23 July 2019
Fairer Finance, the consumer voice in financial services, has endorsed the STAR initiative. STAR aims to galvanise the industry in its goal of improving the outcomes for individuals who want to transfer their assets, such as pensions and investments. This will significantly improve the transfer performance of the industry.
Fairer Finance was founded in 2014 by consumer champion James Daley. The business is a social enterprise which use its profits to pay for its campaigning work and to grow the business. Its mission is to create a financial services market which is fair for consumers as well as the companies that serve them. Fairer Finance represents the customer’s voice in financial services.
A growing community of firms have signed up to the STAR initiative, which officially launched in November 2018 and already has over 40 companies and organisations committed to shaping recognised, industry-wide standards to promote good practice in transfers. The first steering group and working groups have met with more scheduled.
The STAR remit is clearly defined and will:
- Define the processes required to complete a transfer;
- Specify good practice targets for each of those processes;
- Measure, recognise and accredit performance excellence across the industry.
For further information please contact:
Commercial and Marketing Director
0773 765 0010
STAR was created as a collaboration between Criterion and TeX, combining the industry-reach, unique strengths, experience and shared ambition of the two not-for-profit organisations.
Criterion was formed for the industry in July 2017, as an independent, not-for-profit industry body providing Standards and Governance services. It was originally part of Origo Services Ltd and has been publishing process and integration standards for over 25 years. Criterion is uniquely positioned to facilitate and drive cross-industry engagement, helping organisations achieve higher levels of collaboration, reduce costs and achieve better outcomes for their consumers.
TeX is a not-for-profit organisation which works with the industry to ensure that the maximum benefit is provided to all members. This new company is financially independent from TISA but benefits from being linked to the TISA brand through name, the expertise provided by the two corporate entity directorships and the administrative support provided by TISA.