The River Solution allows requisites of the directive on the transparency in banks contracts to be satisfied.
Respecting the rules and principles of transparency guarantees correctness in relations between financial institutions and clients, promotes competition in the banking market, reduces legal risks and avoids the damage linked to a bad reputation.
With a view to protecting the customers and therefore of ensuring clear, full information about the conditions and characteristics of operations and services offered, the new rules are separated into some important phases of the relationship between the intermediaries and the clients:
- advertising of the conditions of operations and services offered
- pre-contract information sheet
- contract information sheet
- communications with the clients.
The River - Transparency solution provides all the information aimed at printing the following documents:
- information sheet
- summary document
- periodical communications of any contractual variations that may be to the clients' disadvantage.
To do this it is more vital than ever to know what the products and services are that a client has agreed to by signing a contract or pre-contract, to know what the conditions applied to the signed contract or pre-contract are and to identify the evolution of the contractual variations (regarding pricing).