FOTIC Wins Award at Financial Knowledge for All -- Beijing Banking Teaching Case Competition

2017-11-09     

Meng Fang, a consumer rights and interests protection specialist of China Foreign Economy and Trade Trust Co., Ltd. (FOTIC), won the Grace Award at the recently held Financial Knowledge for All – Beijing Banking Teaching Case Competition. This is a result of FOTIC’s persistent attention to protection of consumer rights and interests.

The competition was organized by the China Banking Regulatory Commission, Beijing Office in association with Beijing Bingzheng Center for the Promotion of Banking Consumer Right and Interest Promotion. It aimed to regularize the publicity and education of financial knowledge, while promoting industrial exchanges and resources sharing.

Adhering to the business philosophy of “seeking changes in steady operations and treating customers with sincerity”, FOTIC has always paid attention to the protection of consumer rights and interests. It has worked steadily for the development of rules and regulations, financial knowledge publicity and education and product service and management, thus achieving significant breakthroughs.

In the aspects of product services and management, all trust and PE products of FOTIC carry instructions and risk statements, offering accurate and complete knowledge about products and risks. FOTIC has definite requirements for sound and video recording and criterion for marketing skills during product sales. In addition, it has standard operating procedures for wealth advisors, which require the advisors to prompt customers to buy financial products matching their risk tolerance under the principle of suitability while reminding them of product risks to practically protect their rights and interests.

Meanwhile, FOTIC has established a customer service center and a complaint hotline to address customers’ questions and properly handle their complaints. It has made the hotline public in its business places, portal sites and other prominent positions. Moreover, FOTIC has assigned a dedicated team to answer consumers’ calls, address their questions and effectively record their opinions and suggestions. It has also assigned employees to accept and handle customer complaints to ensure that complaints are solved impartially and in time.

As far as publicity and education of financial knowledge is concerned, FOTIC has publicized financial knowledge including anti-money laundering, personal credit records and illegal fund raising through its official website, WeChat account and “Wuxing Wealth”, SMS platform, posters at business outlets and customer specials, so as to practically assume its corporate social responsibility. Furthermore, FOTIC has set up a publicity and education column in the customer reception and payment zone, and publicized financial knowledge by setting up electronic screens, making foldouts on consumer rights and interest protection and organizing major forums, “Wuxing Wealth” Class and other events. These moves have earned FOTIC unanimous praise from customers.

In the future, FOTIC will cooperate with other inter-financial institutional businesses in the area of consumer rights and interests protection. In this area, it will implement regulatory requirements, continue to improve the working mechanism and systems, intensify assessment and strengthen publicity and education, while remaining customer-oriented and in touch with the customers.

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