Shivali Kukreja, Head of Risk & Compliance, nib New Zealand: Driving Customer-Centric Innovation & Strategic Impact in Financial Services.
Fair conduct—treating customers fairly, ethically and consistently—is not revolutionary. Businesses have always been expected to do right by their customers. But what’s different today?
The stakes are higher. In the financial services sector, regulatory expectations have sharpened in New Zealand, Australia, the U.K., the USA and Canada. Customer demands have intensified. Fair conduct isn’t a “nice to have” anymore—it’s table stakes.
Fair conduct isn’t just compliance. It’s about building trust. Trust is hard to earn and easy to lose. Without trust, you lose customers. Without customers, you don’t have a business.
The role of leadership: Fairness starts at the top.
Every great organization obsesses over customers. Every leader should ask: What’s in the best interests of our customers and stakeholders? If the answer isn’t crystal clear, you’re not moving fast enough.
Boards and senior leaders must set the tone. Fair conduct needs to be a defined, measured and embedded principle in your business strategy. What isn’t measured doesn’t get done.
Fair conduct shows up in business operations.
Fair conduct isn’t theoretical. It’s visible in every decision and action across your value chain. Here’s where businesses must focus:
Products: Are we solving real problems and delivering on promises?
Pricing: Is our pricing transparent, with no surprises?
Marketing: Are we communicating clearly, honestly and without spin?
Sales: Are our teams helping customers make informed decisions?
Customer Service: Are we solving problems fast and treating customers with respect?
Technology: Are systems and automation delivering fair outcomes without bias?
Vulnerable Customers: Are we identifying and helping customers who need extra support?
Customer Complaints: Are we treating complaints as “gold dust”—essential insights that drive improvement? Complaints expose fairness gaps, and acting on them builds trust and loyalty.
Errors And Issues: When errors occur, do we take responsibility, apologize sincerely and provide a fair and timely remedy to the customer?
Business Continuity: Are we prepared to maintain fair customer outcomes during disruptions, ensuring minimal impact on service and trust?
Everything we do reflects fairness—or the lack of it.
Fair conduct is an enabler, not an obstacle.
Some leaders think fair conduct is a box-ticking exercise. It’s not. Fair conduct is a strategic enabler that drives customer loyalty, operational excellence and growth.
Here’s what it takes to make fair conduct work:
Culture: Fairness is everyone’s job, and leadership sets the standard.
Policies, Frameworks And Processes: Establish clear policies and robust frameworks to embed fairness at every level.
Tools: Equip teams with technology and systems that operationalize fair conduct effectively.
Training, Education And Awareness: Empower employees with knowledge and tools to address fairness gaps proactively.
Data: Track and measure fairness across customer outcomes to identify improvement areas.
Accountability: Make leaders responsible for embedding fair conduct and achieving measurable outcomes.
Measuring And Monitoring Compliance: Use precise metrics and targeted audits to ensure fair conduct principles are upheld and actionable insights are gained.
Continuous Improvement: Listen to customers. Adapt. Improve. Always.
If you’re not working to get better every day, you’re falling behind.
Fair conduct is the compass that guides us.
Think of fair conduct as your organization’s compass. It points to the true north—your customers’ best interests. When you lose sight of that, you lose your way.
The companies that win are those that prioritize fairness, build trust and stay relentlessly focused on customer outcomes. Fair conduct isn’t just the foundation of a trusted business; it’s the foundation of a great business.
So ask yourself: Are we treating customers fairly in every decision, every day? If the answer isn’t a resounding yes, it’s time to fix it.
Because fairness isn’t optional. It’s everything.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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