FSCS SCV report submission made easy in 3 steps

FSCS SCV report submission made easy with our industry leading product SCV Alliance - FSCS SCV Audit Platform

Our SCV Alliance – FSCS SCV Audit Platform is a regulatory reporting solution designed and suitable for the financial institution to control, automate and flexible to meet ever-increasing regulatory requirements.

It is a complete and compliant FSCS SCV audit solution capable of automatically validating SCV data and comply with FSCS requirements to report on-demand in 24 hours.

Our FSCS SCV Audit report helps you identify inaccuracies and put processes in place to prevent penalties and ensure that your data is duplicate free, consistent and accurate.

Our SCV Alliance – FSCS SCV Audit Platform provides data insights and allows you to correctly identify the individuals and entities to be reported, including exclusion, effectiveness and completeness reports.

Business Benefits

SCV Alliance: Effortless FSCS Single Customer View Reporting with Industry-Leading Technology

1. Validate & Transform

Macro Global’s SCV Alliance leverages advanced technology to ensure the accuracy and consistency of your FSCS Single Customer View (SCV) reporting. Our validation and transformation process includes:

  • Rigorous data validation: Compare your SCV input data against third-party sources like the FCA DB, Royal Mail DB through API, Companies House, Charities Register, BFPO Address, OFAC Sanction customer check to identify discrepancies in customer and account holder information.
  • AI-powered anomaly detection: Our AI-based algorithms and fuzzy logic detect anomalies such as inaccurate customer information, account segregations, and data duplication.
  • Data quality improvement: Eliminate data duplication by merging or removing redundant records and resolve account segregation discrepancies through data analysis and reconciliation.
  • Comprehensive customer view: Aggregate data from multiple sources to create a comprehensive and accurate single customer view.

2. Audit & Screening

To guarantee the integrity of your SCV report, a rigorous audit is conducted using our proprietary SCV Alliance tool: 
  • Aligns with PRA’s data validation rules: Our tool adheres to the strict guidelines set by the Prudential Regulation Authority.
  • Contains over 175 predefined checkpoints: Assess your data against a comprehensive set of criteria.
  • Identifies potential high, medium, & low risks: SCV Alliance employs advanced AI logics and algorithms and external data sets to discover and report high, medium, and low-risk data issues. This helps you identify any inconsistencies or anomalies that could jeopardise the accuracy of your report, ensuring that your FSCS SCV reporting files comply with all regulatory standards.

3. SCV Report Generation

Generation of Exclusion View File: This file contains appropriate exclusions from the SCV report, including legally dormant accounts, legally disputed accounts, sanctioned accounts, and beneficiary accounts. If there are no accounts to include in an Exclusions View file, the financial institution needs to confirm this with FSCS in the SCV Effectiveness Report. 

  • Generation of FSCS SCV Report: The SCV report is generated adhering to FSCS requirements in the following specification: 
    • The SCV file structure: Consisting of four tables such as customer details, contact details, details of accounts, and aggregate balance details, each with specific requirements for data fields. 
    • Acceptable File Types: Excel, XML, and Text. 
    • File names: adherence to specific formats, including the use of the firm’s reference number and the date and time the file was created 

These steps ensure that your SCV report is accurate and compliant, reducing errors, non-compliance risks, and protecting your data integrity.

With Macro Global’s SCV Alliance, you can benefit from:

  • Enhanced data quality: Our advanced validation and transformation processes ensure accurate and consistent data.
  • Reduced risk: Our audit and screening process helps identify and mitigate potential risks.
  • Increased efficiency: Our automated tools streamline the FSCS SCV reporting process.
  • Improved compliance: Our solution ensures adherence to FSCS and PRA regulations.
  • Enhanced customer experience: Accurate and complete customer data leads to better customer service.

Experience the power of our SCV Alliance today. Contact us to learn more about how our industry-leading technology can simplify your FSCS reporting and ensure compliance.

Provide utmost accuracy and Complete Peace of mind

We will be able to help you in whatever the stage of your regulatory reporting programs

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