The Fairbanking Mark is the only financial certification scheme in the UK granted accreditation by the UK Accreditation Service (UKAS).
We work with you to evaluate your products against features that are known to improve customers financial well-being. A key part of your certification journey includes independent customer research to ensure your customers recognise the improvement your product features have made to their financial health.
Gaining a Mark benefits your organisation, your products and your customers. Learn about the benefits of a Mark here.
How to get a Fairbanking Mark
Fairbanking Marks range from three to five stars depending on the number of features and we currently offer Marks on nine products, all of which you can download below to start your journey.
To evaluate if a product should be granted a Fairbanking Mark we use the following process:
The methodology to analyse product features has been developed into product specifications that are available below. The products are benchmarked against identified drivers of financial well-being and money management practices that help customers change behaviour.
Your customers' view
A survey will go out to a specified number of customers which assesses how the product is being used and its perceived impact on customer money management practices. Customers must have used the product for a minimum length of time to have an opinion on how the features of the product are working to help them improve their financial well-being.
Research and evaluation of the product
A qualified product assessor will review product descriptions, operational procedures, promotional materials and other relevant materials to understand how the product works. To ensure the product adheres to the Foundation’s principles of fairness, fairness factors such as product specific complaints and interest charges will be reviewed.
Report submitted to the Assessment Panel
The Fairbanking Mark Assessment Panel is an independent body of experts that reviews all product assessments performed by the Fairbanking Foundation. An Assessment Report is submitted to the Panel which then decides whether to grant a Fairbanking Mark, and, if so, what star rating to award.
Fairbanking Mark granted to successful applicants
If a product meets all requirements and is accepted by the Assessment Panel a Fairbanking Mark will be granted for a year. The Mark licence is renewable annually and the Foundation will continue to monitor that the terms of the licence are adhered to, and that the product continues to meet the requirements of the Fairbanking Mark and Star Rating awarded.
Product Categories eligible for Fairbanking Marks
To begin your journey towards certification and gaining a Fairbanking Mark, simply fill out one of our interactive product specifications and return it to us. Each product is tested against relevant criteria, derived from customer research and academic/behavioural theory.
Download your product specification below:
Still have questions or want to know more about how you can get a Fairbanking Mark?