The FCA is investigating the use of discretionary commissions arrangements between motor finance providers and brokers. Credit Vibe Finance formerly MotaFinance Limited have never used discretionary commission arrangements, and therefore none of our customers are impacted.
Modern Slavery Policy
This statement has been published in accordance with the Modern Slavery Act 2015. It sets out the steps taken by Credit Vibe Finance Limited to prevent the possibility of modern slavery and human trafficking occurring within its direct operations and supply chains.
Our Business
Credit Vibe Finance Limited is a specialist lending business that operates across the United Kingdom (UK).
Our company is committed to supporting and respecting human rights and, as such, is opposed to slavery and human trafficking in both its operations and in the indirect operations of its supply chains. As such, the company will not knowingly support or do business with any organisation involved in slavery or human trafficking. This commitment is underpinned by our company’s corporate policy on Human Rights and Modern Slavery which endorses the United Nation’s Universal Declaration of Human Rights and the International Labour Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work. Credit Vibe Finance Limited also acknowledges the United Nation’s Guiding Principles on Business and Human Rights as the recognised framework for our company to respect human rights in their own operations and through their relationships with other key stakeholders (e.g., suppliers).
Other corporate policies, which support this commitment include the Health and Safety Policy, Whistleblowing Policy, Bribery Policy and Human Resources Policy.
Our supply chains
Our suppliers range in size and scale from small and medium-sized enterprises to large multinational corporations. The highest area of spend for our company is on professional services (consultants, contractors, etc), postage, credit card processing, customer referrals, data centre hosting, credit score checking services and consultancy and legal fees. Other areas of high spend include software licenses and support, contractor sourcing and recruitment, and property and facilities management.
The company always attempts to establish a sense of due diligence in its processes and procedures in order to manage supply chain-based risks. The company tries to ensure suppliers comply with our own company policy requirements and meet legislative requirements including those that relate to the Modern Slavery Act 2015.
Credit Vibe Finance Limited Direct Operations
In order to minimise the risk of modern slavery or human trafficking occurring within our operations, (i.e., through our colleagues that are employed by our company), Human Resource processes and procedures are in place. The company is required to collect evidence that shows that: the person being hired is the person they claim to be; the prospective colleague has the right to work legally in the UK; the person has permission to do the type of work that is being offered to them and that they are not a criminal. This evidence is assured by conducting checks using information held on the National Fraud Database and by credit reference agencies, as well as through the carrying out of criminal record and driving licence checks. Prospective colleagues are also be required to provide proof of ‘right to work’ documents in line with the Immigration, Asylum and Nationality Act 2006 and original photographic documents, for example, a valid passport. Colleagues are also encouraged to raise concerns relating to potential breaches of regulations, policy requirements and/or other grievances, either by contacting a line manager to ensure impartiality and confidentiality.
