Financial Conduct Authority (FCA) that operates with the aim of maintaining the integrity of the financial markets believes that the technology plays a fundamental and increasingly pivotal role in delivering innovative financial products and services.
Considering Regtech may facilitate the delivery of regulatory requirements more efficiently and effectively, FCA launched the project Innovate in 2014 to encourage innovation in financial services markets. They issued a Call for Input (CFI) in November 2015 to seek views on Regtech and finally issued a report in July 2016 providing a summary of the key themes from the responses and roundtable.
We revisited the report to view what are the expectations from the Regtech solutions and how Governance.com stands in view of these expectations. Let’s have a look at how Governance.com corresponds to each of the four themes that were highlighted in this report.
Efficiency and Collaboration
The respondents answered that a technology that allows more efficient methods of sharing information is the one who is going to capture the market. Governance.com makes it easy to securely store data and documentation in a structured way. The connected nature of the data and documentation allows to generate a report on anything in a cascading fashion, including all related documentation in minutes. This reduces the regulatory burden of the organizations and help them streamline their regulatory processes.
Integrate, Standardise and Understand
Governance.com provides multiple ways of centralizing the information, from manual input and data imports, all the way to real-time API’s connected to your legacy architecture or even 3rd party tools. It provides multiple ways for accessing the information with utmost simplicity.
Predict, Learn and Simplify
Governance.com provides a technology that turns data into information. It allows you to browse through complex structures and build reports with custom filtering in seconds. Creating customizable dashboards to have an instant look for relevant data not only simplifies data but also allows for better decision making.
Governance.com is built to scale massively, while maintaining the simplicity to information. Governance.com comes with additional features like meetings, workflows and surveys to name a few which take the solution to the next level where it allows the organizations to gain complete control over its data, processes, documents and people in the most SIMPLE and EFFICIENT manner.
Tags: FCA Governance RegTech