Without having a Single Customer View application and real-time insights in place, organisations struggle to deliver renown outcomes and may even result in dissatisfaction and even churn.
Let us look at the top 3 challenges and the resultant bottlenecks faced by the financial institutions.
Relying on Legacy System
This is first and topmost challenge that most of the businesses today have access to an unprecedented amount of customer data.
The absence of proper infrastructure is preventing banks from effectively managing the situation, in turn seriously affecting the performance of business-critical applications.
IT departments spend 60 to 90% of their budgets managing and maintaining older systems, leaving little left over for new initiatives.
Our FSCS SCV Audit & Automation solution helps you tackle the challenges around gaining a Single Customer View and develop data quality to promote efficiency in operational readiness and improve accuracy in FSCS SCV Regulatory reporting.
We will be able to help you in whatever the stage of your regulatory reporting programs and I am for sure you will not be disappointed rather surprised with our offerings and customer success stories.
All the SCV related information will be kept in the FSCS SCV server and the SCV output files will only be allowed for authorised users. SCV output files for FSCS submission are highly encrypted and protected with complex password mechanism.
Customer and Account information are taken from the Core Banking Solutions or staging area in order to comply with the minimum data requirements in SCV files.
All the FSCS specified standards are strictly followed within our SCV automation platform and the reports are produced with high level accuracy and full compliance.
FSCS SCV Data output at the FSCS SCV report submission will only be carried out after successful validations and mandatory conditional validations demanded by FSCS.