Insights
Analysis & Perspectives
Motor insurance firms are advised to utilise their data to better demonstrate customer outcomes
The FCA reviewed how motor insurance firms value stolen or written off vehicles and highlighted weaknesses in claims handling evidence. Recordsure links customer interaction data and MI to outcome monitoring.
FCA Business Plan: Regulator steps up tech focus for 2024/25
The FCA’s Business Plan for 2024/25 restates its focus on financial crime, consumer needs and wholesale market strength. Firms should expect continued attention on vulnerability, Consumer Duty and technology-supported oversight.
Consumer Duty: increasing data oversight is key for effective outcomes monitoring
The FCA’s Consumer Duty publications and speeches underline that firms need evidence, not repackaged data, to show customer outcomes. Boards should assess what MI is needed for customer-centric governance.
The FCA’s motor finance focus reveals the importance of robust oversight
The FCA’s motor finance review highlights the risks created by weak evidence around historic sales practices and customer conversations. Firms should assess complaint handling, past business exposure and future audit trails.
Bohemian Accuracy
Generative AI is not yet suited to tasks that demand certainty: it sees only a search-selected fraction of enterprise data, cannot measure its own confidence and is non-deterministic. Recordsure therefore relies on traditional machine learning to find information and blends…
Algorithmic bias in retail finance
Supervised learning models absorb the human biases in their training data, so a loan approval model can discriminate against women and minorities and spread that bias to further models. Using AI to inform human decisions, with careful data selection and…
Webinar recap: How Recordsure technology unlocks new regulatory compliance efficiencies
Invited back to the RegTech Global Association’s #RegTechEdgeNoBorders webinar series, Recordsure’s Garry Evans showed how Conversation Intelligence and Document Intelligence can level up firms’ compliance processes with AI-enabled insights and smart automation.
FCA review into later life mortgages highlights the need for robust QA processes
The FCA’s multi-firm review of later life mortgages saw almost 400 financial promotions taken down or amended, and found advice failings that put often-vulnerable older borrowers at risk. Firms need rigorous, scalable Quality Assurance, and Document Intelligence can speed up…
War of the Words
Generative AI such as ChatGPT captured attention by mimicking human language, but it probably does not understand language as people do. Recordsure technology instead relies on the Transformer element of GPT, used securely in our own chosen clouds, to understand…
Tech focus: Why is Document Intelligence the answer to Consumer Duty challenges?
Consumer Duty raises expectations for governance, customer support and process oversight. Document Intelligence helps firms increase review scope, frequency and reliability without simply expanding compliance teams.
Why use RegTech to evidence consumer outcomes and achieve Consumer Duty success?
The FCA’s first in-depth analysis of larger firms’ Consumer Duty implementation plans suggested some firms may have considered the requirements superficially, while noting good practice in identifying technology shortfalls early. RegTech such as Recordsure’s Conversation Intelligence helps firms monitor and…
RegTech for Consumer Duty: three steps to the starting line
The Consumer Duty’s 31st July 2023 implementation date is not a finish line but the starting point of a more assertive, evidence-based and outcome-focused era of FCA supervision. Firms can get ready by preparing every team member for the change,…
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Analysis & Perspectives
In-depth analysis on regulation, AI, oversight and customer outcomes for regulated firms.
Case studies
Proven outcomes in practice
Major UK retail bank
Improving oversight and QA across mortgage advice
Read case study: Improving oversight and QA across mortgage advice
Major UK Tier 1 bank
Improving QA oversight and reporting across business banking conversations
Read case study: Improving QA oversight and reporting across business banking conversations
Government Department — UK
Digitalising interview recording to reduce cost and improve efficiency.
Read case study: Digitalising interview recording to reduce cost and improve efficiency.