Why banks in UK need FSCS Single Customer view Automation/Audit

“89% of companies still have challenges creating a single customer view resulting in poor decision making due to poor customer insight and process inefficiencies. “

A single customer view is outreached when you can:

Without having a Single Customer View and real-time insights in place, organisations struggle to deliver renowned outcomes and may even result in dissatisfaction and even churn.

Decisions based on poor quality data are no more reliable and inaccurate. Cluttering up your database with poor quality data will impact on your ability to make informed judgments and decisions about the state and future of your business.

If you are planning on using your data to make informed decisions and forecast what you should be doing more of for future business growth, you need to make sure that your data is accurate, complete, and duplicate free.

“Single Customer View acts as the single golden source of truth”.

Comprehensive understanding of FSCS Regulatory compliance and mapping them with your customer records depends on the quality of underlying data, which is vital and prominent to achieve a consistent cognizant view.

Financial institutions are ramping up their governance, risk management, and compliance IT investments to avoid fines and prepare themselves for increasing regulatory demands. They are finding the current raft of new and impending rules and regulations by creating a more consistent and comprehensive view.

Having a single view of a customer data help banks understand what business they do with them, and more importantly, how to create better custom.

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 solution capable of automatically validating and comply with FSCS requirements to report on-demand in 24 hours.

Provide utmost accuracy and Complete Peace of mind

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