Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions.\
Talk to us https://recordsure.com/contact/ - [Conversation Intelligence](https://recordsure.com/conversation-intelligence/) - [Document Intelligence](https://recordsure.com/document-intelligence/) - [Workflow automation](https://recordsure.com/workflow-automation/) - [Reporting & Analytics (MI)](https://recordsure.com/reporting-analytics/) - [API & Integrations](https://recordsure.com/api-integrations/) ## Business outcomes Business outcomes Improve public-service delivery and operational performance Recordsure supports the outcomes that matter most to government and public-sector organisations. - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Who benefits Who benefits Intelligence for every part of a public-sector organisation Recordsure for investigation, casework, assurance, complaints, policy, oversight and executive leadership teams. - Investigators and caseworkers — Spend less time searching for information and more time evaluating evidence. - Operational teams — Improve case progression, visibility and consistency. - Assurance and governance teams — Apply repeatable review frameworks and inspect evidence behind findings. - Complaints and enquiry teams — Bring together relevant information more quickly and consistently. - Policy and oversight teams — Understand recurring operational issues, themes and risks. - Operational and executive leaders — Monitor service quality, operational performance and emerging trends. ## Case studies Government use cases Areas where Recordsure delivers results How public-sector organisations can use Recordsure to improve casework, strengthen assurance and navigate complex evidence more efficiently. - [Digitalising interview recording to reduce cost and improve efficiency](https://recordsure.com/case-studies/conversation-intelligence-uk-government-department/) ## Documents and guides Documents and guides - Digitalised interview recordings deliver cost and efficiency savings – Government Department – UK (PDF, 572.8 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/fa3d4b48ee8149ee9324a6749e79efa1/document-original-b964f180cbccc225af047ebc09627eb985c63488421508ff485f8ee698563485.pdf - Recordsure Capture – never miss a conversation (public sector solution) (PDF, 589.8 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/af8c9a84c6f0480e88c6f02e14323add/document-original-b79281e81d2d059e7dbe93661de8dcde3fb760c6a1a859fe6a92b154ca527191.pdf ## Call to action Get started Create a clearer view of interviews, casework and operational evidence Talk to Recordsure about your investigations, casework, operational reviews and assurance priorities. We will help you identify where evidence-linked intelligence can improve efficiency, strengthen accountability and support more informed decision-making. Talk to us https://recordsure.com/contact/ ## Frequently asked questions FAQs Government frequently asked questions - How can Recordsure help government organisations understand complex casework? — Recordsure brings together interviews, operational records and supporting evidence, helping teams understand what happened and access the information behind important decisions. - Can Recordsure support investigations, casework and operational delivery? — Yes. Recordsure can support interviews, investigations, complaints, enquiries, reviews, assurance activity and other operational processes where evidence, accountability and consistency are important. - Can Recordsure help with historic records and large evidence sets? — Yes. Document Intelligence can classify, structure and analyse large volumes of documents and case material, helping teams navigate complex evidence estates more efficiently. - How does Recordsure improve evidential traceability? — Recordsure is designed to connect findings and outputs back to the underlying interaction, transcript passage or source document, making it easier to verify how conclusions were reached. - Does Recordsure make casework or investigative decisions? — No. Recordsure organises information, surfaces evidence and identifies potential gaps. Authorised people remain responsible for investigations, decisions and outcomes. - Can users inspect the evidence behind findings? — Yes. Authorised users can inspect the source material behind findings, supporting review, challenge and accountability. ## Insights Knowledge centre Insights and perspectives - [European Business Magazine: Mills Review highlights the growing need for AI oversight and evidencing in financial services](https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/) - [Citywire: Platforms seek greater visibility over AML controls](https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/) - [Attivo CEO: Off-the-shelf AI won’t pass compliance scrutiny – custom AI will](https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/) - [FCA Insurance Regulatory Priorities report: key impacts for insurers and intermediaries](https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/) ## Card for this sector (grids, menus and footer) Government Complex interactions, case records, investigation support Capture interviews and case interactions, organise evidence and help operational, investigation and assurance teams find relevant information faster. ## Review and governance 2026-10-06 Recordsure Technical & Editorial Team https://recordsure.com/meet-the-team/ ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer 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Talk to us https://recordsure.com/contact/ ## Evidence strip - End-to-end — member journey intelligence from servicing through to retirement - 100% — of findings traceable back to the source conversation, letter or document - Multi-channel — telephone, correspondence, digital and face-to-face interactions supported - Expert-led — pension and compliance teams remain at the centre of every decision ## Answer-first overview Why pension organisations trust Recordsure Better visibility. Stronger evidence. More informed decisions. Recordsure helps pension organisations turn member interactions, correspondence and case evidence into structured, usable intelligence. Conversation Intelligence captures and organises member conversations across servicing, retirement, transfer and support journeys. Document Intelligence structures case material, identifies missing evidence and supports more consistent review across administration, complaints, historic reviews and assurance activities. Together, they help pension teams understand what happened, identify what may need attention and keep findings connected to the evidence behind important decisions. - Understand member interactions — Capture and organise conversations across pension servicing, retirement and support journeys. - Improve service and process consistency — Apply repeatable checks and identify potential gaps or exceptions earlier in the process. - Turn pension activity into trusted intelligence — Create structured insight from conversations, correspondence and case records. Overview ## Common challenges Common challenges Why are pension journeys often difficult to manage? Pension journeys can span many years, involve multiple communications and require evidence from conversations, correspondence, forms and supporting documentation. Member interactions, calculations, servicing activity and supporting records are often distributed across systems, teams and time periods, making it difficult to understand the complete journey and maintain consistency at scale. Recordsure helps pension organisations bring interactions, operational activity and supporting evidence together, creating a clearer, evidence-linked view of activity across the member lifecycle. - Reconstructing member journeys — Information is distributed across interactions, documents and administration systems, often spanning long periods. - Managing complex case histories — Decisions often depend on activity and communications spanning months or years across multiple systems. - Locating supporting information — Evidence may be dispersed across records, correspondence, forms and case files in different locations. - Maintaining service consistency — Processes can vary across teams, workflows and administration activities, creating uneven quality and oversight. - Responding to enquiries and complaints — Understanding what happened can require information from multiple sources, teams and time periods. - Turning pension activity into intelligence — Important operational insight can remain hidden within everyday servicing activity and case records. ## Journeys supported Pension journeys How can Recordsure support pension journeys? Recordsure supports the main pension processes where member interaction intelligence, case evidence and operational consistency matter. Pension journeys - Pension servicing — Create a clearer view of member interactions, requests, actions and outcomes across telephone, written, digital and face-to-face journeys. - Retirement journeys — Capture conversations, explanations and supporting evidence across retirement planning and at-retirement processes. - Transfers and complex cases — Connect conversations, correspondence and supporting documentation into a single, navigable view of complex journeys. - Vulnerability and member support — Identify evidence relating to support needs, member circumstances and agreed actions across servicing and administration. - Complaints and investigations — Bring together interactions, documents and findings to support faster, more consistent complaint investigation and response. - Historic reviews and remediation — Analyse larger populations of cases and identify recurring themes, risks and root causes across complex records. ## Evidence framework Evidence framework What evidence matters across pension journeys? The review framework should reflect the organisation's products, processes, servicing model and governance requirements. Recordsure can organise and surface evidence, while the organisation retains responsibility for decisions and outcomes. Evidence framework - Member circumstances — Evidence relating to a member’s situation, objectives and relevant context at each stage of the journey. - Explanations and options — Evidence of retirement, transfer or servicing options discussed and how they were presented to the member. - Risks and considerations — Evidence of key risks, implications and trade-offs explained during the retirement or transfer journey. - Vulnerability and support — Evidence of support needs identified and how the interaction or process responded to them. - Customer understanding — Questions asked, responses provided and indicators of understanding recorded during member interactions. - Authority and consent — Evidence supporting instructions, permissions and agreed actions throughout the member journey. - Correspondence and communications — Relevant written and digital communications issued throughout the member journey. - Case completeness — Required documents, calculations and supporting records for the case or journey type. - Process adherence — Evidence that agreed servicing and administration processes were followed at each stage. - Member journey visibility — Connect interactions, communications and case history into a single view of the member journey. ## Technology Recordsure platform Intelligence built around the evidence that matters Recordsure technology platform helps regulated firms turn customer interactions, documents, cases and process workflows into structured data and intelligence. Technology From raw data to trusted intelligence Capture, structure, connect and use information across the customer journey without losing sight of its source. Apply the technology to regulated work Start with the product that addresses your immediate priority and connect both when you need a more complete view. A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. Use them together A more complete oversight \Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions.\
Talk to us https://recordsure.com/contact/ - [Conversation Intelligence](https://recordsure.com/conversation-intelligence/) - [Document Intelligence](https://recordsure.com/document-intelligence/) - [Workflow automation](https://recordsure.com/workflow-automation/) - [Reporting & Analytics (MI)](https://recordsure.com/reporting-analytics/) - [API & Integrations](https://recordsure.com/api-integrations/) ## Business outcomes Business outcomes Improve pension service and operational performance Recordsure supports the outcomes that matter most to pension providers, administrators and trustees. - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Who benefits Who benefits Intelligence for every part of a pensions business Recordsure for administration, servicing, complaint, quality assurance, compliance, risk and executive teams. - Pension administration teams — Reduce searching, reconstruction and avoidable hand-backs. Access a structured view of case history and outstanding evidence. - Member servicing teams — Access a clearer view of member interactions and outstanding actions before and after every member contact. - Complaint and dispute teams — Bring together evidence more quickly and consistently to support faster, better-evidenced complaint handling and dispute resolution. - Quality assurance teams — Extend review coverage across the full population of member interactions and case activity. Focus effort on exceptions requiring judgement. - Compliance and risk teams — Investigate recurring issues, inspect evidence behind findings and support oversight across servicing, retirement and transfer journeys. - Operational and executive leaders — Understand service quality, operational performance and emerging themes across pension administration and member journeys. ## Call to action Get started Create a more complete view of every member journey Talk to Recordsure about your pension servicing, retirement journeys, administration workflows, and assurance priorities. We will help you identify where evidence-linked intelligence can improve consistency and release skilled capacity. Talk to us https://recordsure.com/contact/ ## Frequently asked questions FAQs Pensions frequently asked questions - How can Recordsure help pension organisations understand the complete member journey? — Recordsure brings together interactions, correspondence and supporting evidence from across pension journeys, helping teams understand what happened and access the information behind important decisions. - Can Recordsure support pension servicing, retirement and transfer journeys? — Yes. Recordsure can support servicing, retirement, transfer, complaint, review and other pension administration processes where interactions, communications and supporting evidence are important. - Can Recordsure help with historic pension files and reviews? — Yes. Document Intelligence can classify, organise and analyse large volumes of historic documents and case material. The specific file types, checks and outputs are defined during implementation. - How does Recordsure turn pension activity into actionable intelligence? — Recordsure transforms member interactions, correspondence and operational activity into structured intelligence that helps identify recurring themes, process variation and opportunities for improvement. - Does Recordsure make pension or retirement decisions? — No. Recordsure organises information, surfaces evidence and identifies potential gaps. Appropriately authorised people remain responsible for decisions, outcomes and governance. - Can users inspect the evidence behind findings? — Yes. Recordsure is designed to connect findings and outputs back to the underlying conversation, correspondence or document, enabling authorised users to verify the evidence and apply their judgement. ## Insights Knowledge centre Insights and perspectives - [IBS Intelligence: AI governance and why evidence and accountability matter](https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/) - [FCA scrutiny is reshaping ongoing advice](https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/) - [Top ten regulatory priorities for financial services firms in 2026](https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/) - [Seven key topics to ensure the success of your ongoing advisory reviews](https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/) ## Card for this sector (grids, menus and footer) Pensions Evidence across pension journeys and servicing Bring together conversations, correspondence and supporting records to support pension administration, advice, reviews and customer service processes with greater consistency. ## 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Talk to us https://recordsure.com/contact/ ## Evidence strip - No. 1 — AI provider for wealth management and financial advice in the UK - 100% — of findings traceable back to the source conversation or document - Expert-led — two complementary AI products designed for the advice journey - Clear oversight — adviser and reviewer judgement at the centre of every outcome ## Answer-first overview Why wealth and advice firms trust Recordsure Better-prepared advisers. More complete cases. Stronger evidence for the business. Recordsure helps wealth managers and financial advice firms turn client conversations, documents and case evidence into structured, usable intelligence. Conversation Intelligence captures what was discussed, creates accurate meeting records and helps teams identify whether important subjects were explored. Document Intelligence organises the supporting case file, checks for expected evidence and directs reviewers to the information behind each finding. Together, they give advisers, paraplanners, operations and assurance teams a clearer, evidence-linked view of the advice journey, while suitability and other material decisions remain with appropriately skilled people. - Understand what was discussed — Create accessible records of conversations, decisions and advice across every client interaction. - Identify what may need attention — Surface missing evidence, process gaps and exceptions before they cause delays or rework. - Structured data, trusted intelligence — All the insights and evidence you need to support consistent advice quality and stronger assurance. Overview ## Common challenges Common challenges Why is advice evidence difficult to manage? A financial advice journey rarely sits in one place. The evidence may be spread across client meetings, fact-finds, risk assessments, vulnerability information, research, illustrations, recommendations, suitability reports and ongoing-service records. Important context can emerge or change during a conversation. The final case may then pass between advisers, administrators, paraplanners, operations and reviewers before the work is complete. Recordsure creates a more accessible evidence base across the conversation and the case, helping firms reduce administration, improve case quality and strengthen evidence for the decisions they remain responsible for. - Writing up and reconstructing conversations — Advisers spend time after meetings manually recreating what was said rather than focusing on the next client interaction. - Clarifying information during paraplanning — Paraplanners return incomplete or ambiguous handovers to advisers, creating delays and repeated effort. - Locating documents and supporting evidence — Evidence is spread across multiple systems, folders and formats, making it slow to find what is needed. - Resolving gaps late in the process — Missing information is often identified at the review or completion stage, when rework is more disruptive. - Repeating checks across different teams — Compliance, quality assurance and operational teams each spend time independently locating and verifying evidence. - Establishing why a recommendation or decision was made — Reconstructing the rationale behind a decision, particularly for older cases, can be time-consuming. ## Journeys supported The advice journey How can Recordsure support the advice journey? Recordsure elevates the main stages of the advice process, from preparation through to quality review and business insight. Advice journey - Prepare for a better client conversation — Bring relevant client information and previous interaction records into a clearer view before the meeting. - Capture what was discussed — Create a secure recording, accurate transcript and structured meeting record across face-to-face, online or telephone interactions. - Improve advice handovers — Give administrators and paraplanners more consistent information from the client conversation. Reduce clarification loops and rework. - Strengthen the supporting case — Classify and organise case documents, identify relevant evidence and assess whether expected information is present. - Support evidence-led review — Direct reviewers from a finding, theme or potential exception to the relevant point in the conversation or file. - Understand recurring themes — Use verified findings to identify patterns across advice processes, customer journeys, products and teams. ## Evidence framework Evidence framework What evidence matters across an advice journey? The precise review framework should reflect the firm's advice model, products, processes and risk appetite. Recordsure can organise and surface this evidence, but the firm defines the review framework and retains responsibility for the conclusions drawn from it. Evidence framework - Client needs and circumstances — Evidence of the client’s objectives, financial circumstances, priorities and relevant personal context. - Risk and capacity for loss — Evidence of how risk was explored, explained and connected to the client’s circumstances and objectives. - Vulnerability and support — Relevant indicators, support requirements and evidence of how the conversation or process responded to them. - Affordability and sustainability — Information supporting the assessment of affordability, contribution levels, withdrawals or other financial decisions. - Options and alternatives — Evidence of the products, strategies or possible courses of action discussed with the client. - Recommendation rationale — The information supporting the recommendation, including relevant product, replacement, consolidation or investment considerations. - Charges and disclosures — Evidence that relevant charges, limitations, risks and other required information were presented or discussed. - Client understanding — The explanations given, questions asked and responses provided during the interaction. - Agreed actions and ongoing service — A clear record of commitments, next steps, outstanding information and ongoing-service activity. - Case completeness and consistency — The presence of expected case material and consistency between the conversation, fact-find, research and recommendation. ## Technology Recordsure platform Intelligence built around the evidence that matters Recordsure technology platform helps regulated firms turn customer interactions, documents, cases and process workflows into structured data and intelligence. Technology From raw data to trusted intelligence Capture, structure, connect and use information across the customer journey without losing sight of its source. Apply the technology to regulated work Start with the product that addresses your immediate priority and connect both when you need a more complete view. A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. Use them together A more complete oversight \Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions.\
Talk to us https://recordsure.com/contact/ - [Conversation Intelligence](https://recordsure.com/conversation-intelligence/) - [Document Intelligence](https://recordsure.com/document-intelligence/) - [Workflow automation](https://recordsure.com/workflow-automation/) - [Reporting & Analytics (MI)](https://recordsure.com/reporting-analytics/) - [API & Integrations](https://recordsure.com/api-integrations/) ## Business outcomes Business outcomes Improve advice quality and run the business better Recordsure supports the outcomes that matter most to wealth managers and financial advice firms. - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Who benefits Who benefits Intelligence for every part of a wealth and advice business Recordsure for advisers, administrators, paraplanners, reviewers, compliance, risk, training and competence, leadership and technology teams. - Advisers — Spend less time writing up meetings and searching for information. Return to the next client interaction with better context and a structured view of outstanding actions. - Administrators and paraplanners — Receive more structured inputs from client conversations and case files. Reduce time spent clarifying information and chasing missing evidence. - File reviewers and quality assurance teams — Start with a clearer view of the interaction, case structure and potential evidence gaps. Move directly to relevant source material. - Compliance and risk teams — Apply repeatable checks across more interactions and cases, investigate exceptions and use evidence-linked findings to understand recurring risk themes. - Training and competence teams — Identify recurring themes and development needs, then use relevant evidence to support more focused adviser feedback and coaching. - Executive and operational leaders — Understand where administration, hand-backs, incomplete cases and review effort are affecting capacity. Use verified insight to identify patterns across advice journeys, products and teams. - Data and technology teams — Connect conversation and case intelligence with CRM, practice-management, document, workflow and reporting environments while maintaining agreed permissions and governance. ## Case studies Case studies Customer success stories See how wealth managers and advice firms use Recordsure to improve advice quality, reduce administration and strengthen assurance. - [Improving oversight and quality assurance across mortgage advice conversations](https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/) - [Enhanced QA oversight and reporting for Business Banking](https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/) - [Scale up file review provisions without increasing costs](https://recordsure.com/case-studies/document-intelligence-consultancy-managed-services-uk/) ## Call to action Get started Create a more complete view of every advice journey Talk to Recordsure about your client meetings, advice files, paraplanning handovers and review priorities. We will help you identify where better evidence and intelligence could reduce administration, improve case quality and release skilled capacity. Talk to us https://recordsure.com/contact/ ## Frequently asked questions FAQs Wealth and Advice frequently asked questions - How can Recordsure reduce adviser meeting administration? — Conversation Intelligence can securely capture client meetings and create transcripts, structured notes and navigable themes. This reduces the effort involved in manually reconstructing the conversation and provides clearer information for follow-up and handover. - Can Recordsure help evidence client understanding? — Conversation Intelligence can organise evidence of the explanations given, questions asked and client responses recorded during an interaction. The firm defines the review framework and retains responsibility for deciding whether the evidence demonstrates appropriate understanding. - Does Recordsure decide whether financial advice is suitable? — No. Recordsure presents information, potential gaps and supporting evidence to appropriately skilled people. Material suitability decisions remain with the firm and are made within its agreed governance and review model. - Can Recordsure check whether an advice file is complete? — Document Intelligence can compare the documents and evidence found in a case with the organisation’s configured expectations. It can identify potential gaps and direct users to cases that may require further action or expert review. - Can Conversation Intelligence and Document Intelligence be used separately? — Yes. A firm can begin with Conversation Intelligence to improve interaction records and oversight, or Document Intelligence to improve document and case review. They can also be connected to create a broader evidence-linked view of the advice journey. - Can users inspect the evidence behind a finding? — Yes, subject to permissions and the agreed configuration. Recordsure is designed to connect findings and outputs to relevant recordings, transcript passages and source documents so that authorised users can verify the evidence and apply their judgement. ## Insights Knowledge centre Insights and Perspectives - [Can the FCA Handbook API help firms demonstrate compliance?](https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/) - [IBS Intelligence: AI governance and why evidence and accountability matter](https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/) - [Why outcomes monitoring needs more than management information](https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/) - [Consumer Duty board reports: from governance to customer outcomes](https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/) ## Card for this sector (grids, menus and footer) Wealth and Advice Suitability, oversight, client understanding Capture client conversations, reduce meeting administration, strengthen suitability evidence and support more consistent quality assurance across advice and ongoing-service activities. ## Review and governance 2026-10-06 Recordsure Technical & Editorial Team https://recordsure.com/meet-the-team/ ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer 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Move directly to relevant source material." } }, { "@type": "ListItem", "position": 4, "item": { "@type": "Audience", "audienceType": "Compliance and risk teams", "description": "Apply repeatable checks across more interactions and cases, investigate exceptions and use evidence-linked findings to understand recurring risk themes." } }, { "@type": "ListItem", "position": 5, "item": { "@type": "Audience", "audienceType": "Training and competence teams", "description": "Identify recurring themes and development needs, then use relevant evidence to support more focused adviser feedback and coaching." } }, { "@type": "ListItem", "position": 6, "item": { "@type": "Audience", "audienceType": "Executive and operational leaders", "description": "Understand where administration, hand-backs, incomplete cases and review effort are affecting capacity. Use verified insight to identify patterns across advice journeys, products and teams." } }, { "@type": "ListItem", "position": 7, "item": { "@type": "Audience", "audienceType": "Data and technology teams", "description": "Connect conversation and case intelligence with CRM, practice-management, document, workflow and reporting environments while maintaining agreed permissions and governance." } } ], "isPartOf": { "@id": "https://recordsure.com/sectors/wealth-and-advice/#webpage" }, "inLanguage": "en-GB" }, { "@type": "ItemList", "@id": "https://recordsure.com/sectors/wealth-and-advice/#case-studies", "name": "Customer success stories", "numberOfItems": 3, "itemListOrder": "https://schema.org/ItemListOrderDescending", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Improving oversight and quality assurance across mortgage advice conversations", "url": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/" }, { "@type": "ListItem", "position": 2, "name": "Enhanced QA oversight and reporting for Business Banking", "url": "https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/" }, { "@type": "ListItem", "position": 3, "name": "Scale up file review provisions without increasing costs", "url": "https://recordsure.com/case-studies/document-intelligence-consultancy-managed-services-uk/" } ], "isPartOf": { "@id": "https://recordsure.com/sectors/wealth-and-advice/#webpage" }, "inLanguage": "en-GB" }, { "@type": "ItemList", "@id": "https://recordsure.com/sectors/wealth-and-advice/#insights", "name": "Insights and Perspectives", "numberOfItems": 4, "itemListOrder": "https://schema.org/ItemListOrderDescending", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Can the FCA Handbook API help firms demonstrate compliance?", "url": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/" }, { "@type": "ListItem", "position": 2, "name": "IBS Intelligence: AI governance and why evidence and accountability matter", "url": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/" }, { "@type": "ListItem", "position": 3, "name": "Why outcomes monitoring needs more than management information", "url": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/" }, { "@type": "ListItem", "position": 4, "name": "Consumer Duty board reports: from governance to customer outcomes", "url": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/" } ], "isPartOf": { "@id": "https://recordsure.com/sectors/wealth-and-advice/#webpage" }, "inLanguage": "en-GB" } ] } ``` ### Banking - URL: https://recordsure.com/sectors/banking/ - Published: 2026-10-05 - Modified: 2026-10-16 ## Hero (H1), sector and breadcrumb [Banking](https://recordsure.com/sector/banking/) Recordsure for banking Turn customer interactions and case documents into trusted banking intelligence Improve customer outcomes, strengthen assurance and extend oversight across sales, customer service, complaint and operational journeys. Talk to us https://recordsure.com/contact/ ## Evidence strip - Tier 1 — UK and international banks rely on Recordsure for interaction oversight - 100% — of findings traceable back to the source conversation or document - Multi-channel — branch, contact centre, video and digital journeys supported - Expert-led — skilled teams remain at the centre of every review and outcome decision ## Answer-first overview Why banks trust Recordsure Broader oversight. Better evidence. More informed decisions. Recordsure helps banks turn customer conversations, documents and operational case evidence into structured, usable intelligence. Conversation Intelligence captures and organises customer interactions across branches, contact centres and digital channels. Document Intelligence structures case material, identifies missing evidence and supports more consistent review across customer, mortgage, complaint and quality-assurance processes. Together, they help banks understand what happened, identify what may need attention and keep findings connected to the underlying evidence. - Understand customer interactions — Capture and organise customer conversations across branches, contact centres and digital channels. - Improve process and quality oversight — Apply consistent checks across customer journeys and identify potential exceptions earlier. - Turn evidence into trusted intelligence — Create structured data and actionable insight from customer interactions, documents and operational activity. ## Common challenges Common challenges Why are customer interactions often fragmented across banking operations? Banks typically hold customer data across multiple channels, systems and operational teams. Customer interactions may be spread across branch meetings, telephone conversations, digital channels, complaints, operational workflows and supporting documentation. As volumes grow, it becomes increasingly difficult to understand whether customer journeys are consistent, complete and delivering the intended outcome. Recordsure helps banks bring customer interactions, operational activity and supporting evidence together, making it easier to understand what happened, identify what may need attention and create more actionable intelligence. - Reconstructing customer journeys — Interactions are distributed across conversations, systems and operational teams, making it difficult to get a complete picture. - Locating supporting information — Evidence is often spread across multiple systems and records, slowing down reviews and investigations. - Extending oversight at scale — Review coverage becomes harder to maintain as interaction volumes and process complexity increase. - Identifying recurring issues — Patterns can emerge across operations before they appear in traditional management information or reporting. - Maintaining process consistency — Customer journeys can vary across teams, channels and locations, creating uneven quality and compliance risk. - Turning activity into intelligence — Important insight can remain hidden within everyday operational activity, conversations and case files. ## Journeys supported Banking journeys How can Recordsure support banking journeys? Recordsure supports the main banking processes where customer interaction intelligence, case evidence and oversight consistency matter. Banking journeys - Customer sales and advice — Capture interactions, evidence explanations and support broader quality assurance across retail and business banking sales journeys. - Customer servicing — Create a clearer view of customer enquiries, commitments, outcomes and follow-up actions across branch and contact centre channels. - Mortgage and lending reviews — Connect conversations, documents and supporting evidence for more efficient review of mortgage and lending case files. - Complaints and investigations — Bring together interaction records, documents and findings to support faster, more consistent complaint investigation. - Quality assurance and monitoring — Apply repeatable checks across the full interaction population and focus specialist review on conversations requiring judgement. - Remediation and thematic reviews — Analyse larger populations of cases, identify recurring themes and understand root causes across complex remediation programmes. ## Evidence framework Evidence framework What evidence matters across banking operations? The review frameworks should reflect the bank's processes, products and risk appetite. Recordsure can be configured around the evidence and checks that matter, while the firm retains responsibility for the conclusions drawn from it. - Customer needs and circumstances — Evidence of the customer's situation, objectives and relevant personal or financial context. - Explanations and disclosures — Evidence that products, services, risks and key information were explained clearly and appropriately. - Vulnerability and support — Evidence of customer support needs and how the interaction or process responded to those needs. - Customer understanding — Customer responses, questions raised and indicators of understanding recorded during the interaction. - Commitments and next actions — Actions, promises and follow-up activity agreed or confirmed during the customer interaction. - Complaint handling — Evidence supporting complaint assessment, resolution and the communication of outcomes to the customer. - Case completeness — The presence of required evidence, documents and supporting records expected for the case type. - Process adherence — Evidence that relevant operational, quality-assurance or customer-service processes were followed. ## Technology Recordsure platform Intelligence built around the evidence that matters Recordsure technology platform helps regulated firms turn customer interactions, documents, cases and process workflows into structured data and intelligence. Technology From raw data to trusted intelligence Capture, structure, connect and use information across the customer journey without losing sight of its source. Apply the technology to regulated work Start with the product that addresses your immediate priority and connect both when you need a more complete view. A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. Use them together A more complete oversight \Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions.\
Talk to us https://recordsure.com/contact/ - [Conversation Intelligence](https://recordsure.com/conversation-intelligence/) - [Document Intelligence](https://recordsure.com/document-intelligence/) - [Workflow automation](https://recordsure.com/workflow-automation/) - [Reporting & Analytics (MI)](https://recordsure.com/reporting-analytics/) - [API & Integrations](https://recordsure.com/api-integrations/) ## Business outcomes Business outcomes Improve banking performance and customer outcomes Recordsure supports the outcomes that matter most to banks and building societies. - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Who benefits Who benefits Intelligence for every part of a banking business Recordsure for customer-facing teams, operations, quality assurance, compliance, risk, complaint and remediation teams, and executive leadership. - Customer-facing teams — Reduce administration and create clearer customer records. Return to the next interaction with better context and a structured view of outstanding actions. - Operations teams — Improve workflow visibility, case progression and evidence management across mortgage, servicing and operational processes. - Quality assurance teams — Extend review coverage across the full interaction population and focus specialist effort on exceptions requiring judgement. - Compliance and risk teams — Inspect the evidence behind findings and investigate recurring themes across customer journeys and operational processes. - Complaint and remediation teams — Access supporting interaction records and case evidence more quickly and consistently to support faster, well-evidenced investigation. - Operational and executive leaders — Understand customer, quality and operational trends across teams and channels. Use verified insight to inform governance and strategic decisions. ## Case studies Case studies Customer success stories See how banks use Recordsure to improve customer outcomes, extend QA oversight and strengthen complaint and remediation evidence. - [Improving oversight and quality assurance across mortgage advice conversations](https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/) - [Enhanced QA oversight and reporting for Business Banking](https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/) - [Scaling a major remediation review with technology](https://recordsure.com/case-studies/document-intelligence-big-4-consultancy-australia/) ## Documents and guides Documents and guides - Increase QA oversight and reduce QA costs – Major Retail and Commercial Bank – UK (PDF, 325.5 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8afac63be91446da8dbbd2a331d2fc80/document-original-278ed256cab7ba81109203bd6738946d6622f40e9c9b8071916b53ded75c7326.pdf - Smarter, faster Quality Assurance for client-advisor conversations – Large UK Tier 1 Bank (PDF, 327 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e6a6bbd1fec44a8aad8cc8995d205b71/document-original-0ade958074e7db5ceff6302d888689422dfc7e2ead9f7e83fd16c791c37d7e18.pdf - Enhanced QA oversight and reporting for Business Banking – Major Tier 1 Bank – UK (PDF, 489.1 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f16dda1a6e064365ba5f6ecfa681034f/document-original-a13ef26dad9a8a720f357aac14dd1956ebbe504dfe94bcf509e074b105ce8f74.pdf - Improving oversight and quality assurance across mortgage advice conversations – Major Retail Bank – UK (PDF, 2.1 MB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5c9dcf354fcb45b4994c9519dbcf3ae6/document-original-c932c5843f3284cd8cf4c4d1bfa2ac81ddf8a11296c344d21183f7411dbce7a9.pdf ## Call to action Get started Create a more complete view of every customer journey Talk to Recordsure about your customer interactions, operational workflows, QA priorities and case evidence challenges. We will help you identify where better intelligence could improve outcomes, reduce administration and extend oversight. Talk to us https://recordsure.com/contact/ ## Frequently asked questions FAQs Banking frequently asked questions - How can Recordsure help banks understand the complete customer journey? — Recordsure brings together customer interactions, operational activity and supporting evidence from across banking journeys, helping teams understand what happened, identify what may need attention and access the information behind important decisions. - How can Recordsure help extend oversight across banking operations? — Recordsure helps banks apply more consistent oversight across customer interactions and case reviews, while directing specialist teams towards conversations, documents or cases that may require further attention and judgement. - Can Recordsure support more than quality assurance reviews? — Yes. Recordsure can support sales, servicing, mortgage reviews, complaints, remediation, quality assurance and other operational processes where customer interactions, case evidence and process consistency are important. - How does Recordsure turn customer activity into actionable intelligence? — Recordsure transforms customer conversations, documents and operational activity into structured, usable intelligence. This helps teams identify recurring themes, understand process performance and make more informed operational decisions. - Does Recordsure automate review or customer outcome decisions? — No. Recordsure organises information, identifies relevant evidence and highlights potential exceptions. Banks' skilled teams retain responsibility for review decisions, customer outcomes and governance. - Can users inspect the evidence behind findings? — Yes. Recordsure is designed to connect findings and outputs back to the underlying recording, transcript passage or source document, enabling authorised users to verify the evidence and apply their judgement. ## Insights Knowledge centre Insights and perspectives - [IBS Intelligence: AI governance and why evidence and accountability matter](https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/) - [Turning the FCA’s Mortgage Regulatory Priorities into actionable insight](https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/) - [FCA Regulatory Priorities Payments: Key areas of focus](https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/) - [FCA’s Retail Banking regulatory priorities 2026: What firms must evidence](https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/) ## Card for this sector (grids, menus and footer) Banking Interaction oversight, review efficiency, customer outcomes Connect customer conversations, operational activity and assurance processes to create a clearer view of service quality, process adherence and emerging risks. ## Review and governance 2026-09-15 Recordsure Technical & Editorial Team https://recordsure.com/meet-the-team/ ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, 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structured, usable intelligence. Frontline teams can prepare and follow up more effectively, operations teams can progress work with fewer gaps, compliance teams can reach the evidence behind each finding and leaders can see the themes affecting capacity, quality, customer outcomes and risk. Talk to us https://recordsure.com/contact/ ## Evidence strip - 8 — regulated sectors supported - 100% — of findings traceable to source evidence - 2 — complementary AI products - Oversight — Human oversight at the centre of every decision ## Answer-first overview Why regulated industries trust Recordsure Built for organisations where evidence matters Recordsure supports evidence-intensive work across Wealth and Advice, Banking, Pensions, Lending and Credit, Insurance, Payments and FinTech, Utilities and Government. Important decisions often depend on information spread across customer conversations, documents, systems and case records. Finding the right evidence can be time-consuming. Missing information can create delays. Assurance activity can be difficult to scale. Recordsure helps organisations bring together the evidence behind customer journeys and operational processes, making it easier to understand what happened, identify potential gaps and support consistent human decision-making. - Understand what happened — Create accessible records of conversations, documents and case activity. - Identify what needs attention — Surface missing evidence, process gaps and exceptions earlier. - Keep findings connected to evidence — Move from a finding or summary directly to the supporting recording, transcript or document. ## Questions regulated businesses ask Common challenges Questions regulated businesses need answered Every organisation has different priorities, but the underlying questions are often similar. - What happened? — Understand customer interactions, case activity and supporting evidence without reconstructing events manually. - What information might be missing? — Identify potential evidence gaps, missing documentation and incomplete processes earlier. - Which cases need expert attention? — Help reviewers focus on the work that requires judgement rather than spending time locating information. - What is driving customer, quality or operational issues? — Understand recurring patterns and emerging themes across teams, products, services and customer journeys. ## Sector directory Sectors we serve When important customer decisions must be efficient, explainable and defensible. The sectors we serve each have different processes, requirements and customer journeys. Recordsure adapts to the interactions, evidence, workflows and controls that matter most to each environment. - [Wealth and Advice](https://recordsure.com/sectors/wealth-and-advice/) - [Banking](https://recordsure.com/sectors/banking/) - [Pensions](https://recordsure.com/sectors/pensions/) - [Government](https://recordsure.com/sectors/government/) ## Technology Recordsure platform Intelligence built around the evidence that matters Recordsure technology platform helps regulated firms turn customer interactions, documents, cases and process workflows into structured data and intelligence. Technology From raw data to trusted intelligence Capture, structure, connect and use information across the customer journey without losing sight of its source. Apply the technology to regulated work Start with the product that addresses your immediate priority and connect both when you need a more complete view. A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. Use them together A more complete oversight \Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions.\
Talk to us https://recordsure.com/contact/ - [Conversation Intelligence](https://recordsure.com/conversation-intelligence/) - [Document Intelligence](https://recordsure.com/document-intelligence/) - [Workflow automation](https://recordsure.com/workflow-automation/) - [Reporting & Analytics (MI)](https://recordsure.com/reporting-analytics/) - [API & Integrations](https://recordsure.com/api-integrations/) ## Business outcomes Business outcomes Outcomes that matter across regulated organisations While each sector faces different challenges, the outcomes organisations seek are often remarkably similar. - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Case studies Case studies Customer success stories See how regulated organisations use Recordsure to improve quality, increase operational efficiency and strengthen assurance. - [Scaling a major remediation review with technology](https://recordsure.com/case-studies/document-intelligence-big-4-consultancy-australia/) - [Scale up file review provisions without increasing costs](https://recordsure.com/case-studies/document-intelligence-consultancy-managed-services-uk/) - [Improving oversight and quality assurance across mortgage advice conversations](https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/) ## Documents and guides Documents and guides - Centralised oversight of sales conversations for insurance provider – National Roadside Assistance and General Insurance Provider (PDF, 562.6 KB) https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9b06f6de044e40f5b53ece0dd022d2d1/document-original-e01af2e462c7e040c6fe3ae06529ac48016b50842e376b8cbfb37e7514e9f17c.pdf ## Call to action Get started Explore how Recordsure can support your sector Whether your priority is customer outcomes, quality assurance, operational efficiency or evidence management, Recordsure can help you identify a practical starting point and measurable business value. Talk to us https://recordsure.com/contact/ ## Frequently asked questions FAQs Frequently asked questions - What types of regulated organisations does Recordsure support? — Recordsure supports regulated and evidence-intensive organisations across financial services and government, including wealth management, banking, pensions and public-sector environments. - Does Recordsure make regulated decisions? — No. Recordsure provides information, findings and supporting evidence to authorised users. Organisations retain responsibility for material decisions, outcomes and governance. - How do Conversation Intelligence and Document Intelligence differ? — Conversation Intelligence focuses on customer interactions and conversations. Document Intelligence focuses on documents, emails and case evidence. They can be used independently or together. - Can users access the evidence behind findings? — Yes. Recordsure is designed to connect findings, summaries and outputs back to relevant recordings, transcripts and source documents, subject to permissions. - Can Recordsure integrate with existing systems? — Recordsure supports configurable integrations, data feeds and APIs across customer, document, workflow and reporting environments. ## Insights Knowledge centre Insights and perspectives - [Can the FCA Handbook API help firms demonstrate compliance?](https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/) - [Will simpler transaction reporting put greater focus on data quality?](https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/) - [FCA CP26/28: What the proposed AIFM reforms mean for governance and oversight](https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/) - [IBS Intelligence: AI governance and why evidence and accountability matter](https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/) ## Review and governance 2026-10-04 Recordsure Technical & Editorial Team https://recordsure.com/meet-the-team/ ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/sectors/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Regulated businesses", "item": "https://recordsure.com/sectors/" } ] }, { "@type": "CollectionPage", "@id": "https://recordsure.com/sectors/#webpage", "url": "https://recordsure.com/sectors/", "name": "Regulated businesses", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-10-05T18:26:36+01:00", "dateModified": "2026-10-04T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/sectors/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "reviewedBy": { "@id": "https://recordsure.com/sectors/#editorial-team" }, "description": "Recordsure turns the evidence contained in customer conversations, documents and case files into structured, usable intelligence. 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Evidence that can be inspected. Human judgement where it matters. Talk to us https://recordsure.com/contact/ ## Evidence strip - 100% — interaction oversight, from limited sampling - 50%+ — reduction in QA review time - 90m — documents analysed - Structured — trusted data and intelligence ## Answer-first introduction Apply consistent, evidence-linked oversight across all interactions and cases. Recordsure helps teams identify missing evidence, process gaps and exceptions earlier, direct expert attention where it matters and preserve a traceable record for quality assurance, complaints, governance and regulatory scrutiny. Small manual samples may miss emerging themes, inconsistent processes and evidence gaps across the wider population. Skilled reviewers can also spend a significant proportion of their time finding and reconstructing information before they can apply their expertise. - Broader oversight coverage — Consistent checks across more interactions and cases, not just a limited manual sample. - Earlier identification of gaps — Missing evidence, process deviations and exceptions surfaced before they escalate. - Defensible audit trails — Every finding connected to its source evidence, traceable for governance and regulatory scrutiny. ## The challenge The challenge Where can limited manual sampling leave assurance gaps? Recordsure enables consistent checks across more interactions and cases, then uses evidence-linked findings to help people prioritise the work requiring review, interpretation or action. ## Technology cards Technology Where does the assurance come from? Together, Document Intelligence and Conversation Intelligence create a more complete, evidence-linked view of every customer interaction and case. Conversation Intelligence Understand what was said Capture customer meetings and calls, create transcripts and structured notes, organise interactions into themes and support evidence-based oversight. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) Document Intelligence Understand what the case contains Organise documents, emails and case files, identify evidence, assess completeness and support more consistent review activities. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) Use them together A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. [Talk to us](https://recordsure.com/contact/) ## Measuring success Measuring success How should assurance and risk reduction be measured? Measures may include oversight coverage, exceptions identified, missing-evidence rates, review time, recurring root causes, complaint themes, remediation volumes, response times for enquiries and the proportion of findings verified or amended by human reviewers. - Oversight coverage — Track the proportion of interactions and cases subject to consistent automated checks. - Exceptions and gaps identified — Measure how many evidence or process issues are surfaced before they escalate or affect customers. - Missing-evidence rates — Monitor the frequency of incomplete or absent documentation across case populations. - Review and response time — Measure how quickly teams can locate, organise and respond to evidence for complaints and enquiries. - Recurring root causes — Identify systemic process or behaviour patterns driving repeated findings. - Human verification rate — Track the proportion of AI findings inspected, confirmed or amended by authorised reviewers. ## Who benefits Who benefits Broader oversight for every team with an assurance responsibility - Compliance, quality and risk teams — Gain broader, evidence-linked oversight across more interactions and cases. Direct expert attention to exceptions and lower-confidence findings. - Boards and senior managers — Gain clearer assurance about recurring themes, control performance and the evidence supporting governance conclusions. - Complaint and investigation teams — Find and organise evidence faster. Access structured audit trails, evidence packs and the source material behind findings. - Operations and customer-facing teams — Receive more specific feedback about where processes need improvement and where evidence or follow-up is missing. ## Related outcomes Related outcomes Explore related outcomes - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) ## Call to action Talk to us Extend oversight without losing sight of the evidence Talk to Recordsure about your assurance priorities, review framework, evidence sources and areas of risk. We will help you identify a practical starting point and the measures needed to demonstrate broader, more defensible oversight. Talk to us https://recordsure.com/contact/ ## Frequently asked questions Frequently asked questions Assurance and risk frequently asked questions - Does Recordsure replace human judgement? — No. Recordsure automates repeatable discovery and process checks, connects findings to evidence and directs human attention. Material decisions remain subject to the organisation’s agreed governance and appropriately skilled people. - Can Recordsure support complaints and regulatory enquiries? — Yes. Document Intelligence can organise case evidence, findings and audit trails into support packs, while Conversation Intelligence preserves evidence of what was said, subject to permissions and configuration. - Can Recordsure extend oversight beyond a small sample? — Recordsure can apply consistent checks across a broader population of recorded interactions or available case material, depending on the agreed scope and data. Human reviewers can then focus on exceptions, lower-confidence findings and issues requiring qualitative judgement. - Can users inspect the evidence behind a finding? — Yes. Recordsure is designed to connect findings to the relevant recording, transcript passage, document section or case evidence so authorised users can verify the result and understand its basis. ## Insights Knowledge centre Insights and Perspectives - [How can firms maintain oversight as AI takes on more decisions?](https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/) - [IBS Intelligence: AI governance and why evidence and accountability matter](https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/) - [Attivo CEO: Off-the-shelf AI won’t pass compliance scrutiny – custom AI will](https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/) - [AI in financial services: FCA scrutiny, governance and evidencing outcomes](https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/) ## Card for this outcome (grids, menus and footer) Strengthen assurance and reduce risk Apply more consistent oversight and focus expert review on exceptions and judgement calls. 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Better information. More time for skilled work. Talk to us https://recordsure.com/contact/ ## Evidence strip - 2hrs → 20min — average triage reduction - 50% — faster file review - Automatic — structuring of complex document estates - 50%+ — reduction in QA review time ## Answer-first introduction Make work move more efficiently across customer-facing, operations and review teams. Recordsure structures the information within conversations and case files, reducing administration, handover friction, manual searching and avoidable rework while giving teams clearer visibility of exceptions and bottlenecks. Teams lose time writing up meetings, clarifying handovers, chasing missing documents, reconstructing cases and repeating checks. Recordsure creates usable information earlier, so work moves between roles with fewer gaps. - Less administration — Structured notes, transcripts and navigable themes are created automatically from every interaction. - Fewer handover gaps — Clearer information passed between roles reduces clarification loops and avoidable rework. - Clearer management information — Visibility of work in progress, outstanding evidence, exceptions and recurring bottlenecks. ## The challenge The challenge Where does operational friction come from? Teams lose time writing up meetings, clarifying handovers, chasing missing documents, reconstructing cases and repeating checks. The information often exists, but it is fragmented across conversations, documents and systems, making work slower, less consistent and harder to manage. Recordsure creates usable information earlier in the process. It helps work move between roles with fewer gaps and gives leaders clearer visibility of work in progress, outstanding evidence, exceptions and recurring sources of rework. ## Technology cards Technology Where does the efficiency come from? Together, Conversation Intelligence and Document Intelligence turn conversations and case files into structured, usable intelligence, reducing manual administration, handover friction and time spent searching, checking and reconstructing information. Conversation Intelligence Understand what was said Capture customer meetings and calls, create transcripts and structured notes, organise interactions into themes and support evidence-based oversight. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) Document Intelligence Understand what the case contains Organise documents, emails and case files, identify evidence, assess completeness and support more consistent review activities. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) Use them together A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. [Talk to us](https://recordsure.com/contact/) ## Measuring success Measuring success What should operational efficiency improve? Better efficiency should be visible in the flow of work, not only in isolated task times. Teams should see cleaner inputs, fewer clarification loops, earlier identification of missing evidence, more consistent review and clearer management information about work in progress and exceptions. - Meeting administration time — Measure the time from interaction to structured, usable meeting record. - Case preparation time — Track how long it takes to assemble and prepare a case for review or action. - Review time per case — Compare time spent on reviewable cases before and after structured document organisation. - Hand-backs and missing documents — Monitor the frequency of returns to advisers or customers for incomplete information. - Right-first-time completion — Track cases that complete without returning for clarification or missing evidence. - Cost per interaction or case — Understand the true operational cost and track improvement over time. ## Who benefits Who benefits Less friction at every stage of the process - Operations leaders — Gain visibility of throughput, exceptions and bottlenecks. Identify where work is slowing down and direct resource to the right place. - Finance leaders — Gain clearer cost and capacity measures. Understand the true cost per interaction or case, and track improvement over time. - Customer-facing teams — Receive better-prepared information before each interaction. Spend less time writing up and more time on the work that requires expertise. - Case and review teams — Spend less time searching, clarifying and repeating work. Move directly to relevant evidence with clearer inputs and fewer stop-start loops. ## Related outcomes Related outcomes Explore related outcomes - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Call to action Talk to us Remove the friction that slows customer and review operations Talk to Recordsure about the administration, handovers, evidence gaps and review processes creating the greatest cost or delay. We will help you identify a practical starting point and the measures needed to demonstrate improvement. Talk to us https://recordsure.com/contact/ ## Frequently asked questions Frequently asked questions Operational efficiency frequently asked questions - Does efficiency mean less human checking? — No. It means using human expertise where it adds most value. Recordsure automates repeatable capture, organisation and process checks while preserving human judgement for qualitative, material and lower-confidence decisions. - Can Recordsure work with existing systems? — Yes. Recordsure supports configurable integrations, data feeds and API access for customer, document, workflow and reporting systems. Scope and availability are agreed for each implementation. - Can we target one inefficient process first? — Yes. A focused starting point makes it easier to establish baseline measures, configure the required information and checks, and demonstrate value before extending the approach to other teams or journeys. ## Insights Knowledge centre Insights and Perspectives - [Tech focus: Why is Document Intelligence the answer to Consumer Duty challenges?](https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/) - [From sampling to scale: why reviewing more conversations requires the right AI approach](https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/) - [Things financial advisers could be doing instead of post-meeting administration](https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/) - [Wealth managers: how digitalisation can revolutionise meeting follow up](https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/) ## Card for this outcome (grids, menus and footer) Improve operational efficiency Improve case readiness, workflow progression and review consistency. 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Talk to us https://recordsure.com/contact/ ## Evidence strip - 50% — faster file review - 2hrs→20min — case triage time - 250,000+ — records processed each day - 2× — review capacity without doubling the team ## Answer-first introduction Recordsure turns customer conversations and case evidence into trusted intelligence, releasing skilled capacity for customers, commercial activity and growth while keeping quality and confident human judgement at the centre. Growth often adds meetings, documentation, service work, case preparation and quality checks faster than it creates productive customer capacity. Information becomes fragmented across conversations, documents and systems, so skilled people spend more time writing up, searching, clarifying and reconstructing work. - More time for customers — Reduce time spent on documentation and reconstruction. - A more scalable operating model — Grow without adding proportional overhead. - Human in control — Every decision backed by evidence, every outcome traceable. ## The challenge The challenge How can regulated businesses grow without costs increasing at the same rate? Recordsure reduces the effort surrounding each customer journey. Conversation Intelligence makes meetings and calls easier to capture, understand and use. Document Intelligence organises case material, identifies evidence and prepares files for efficient human review. Used separately or together, they help existing teams support greater volumes while maintaining consistent oversight. ## Technology cards Technology Where does the capacity come from? Conversation Intelligence Understand what was said Capture customer meetings and calls, create transcripts and structured notes, organise interactions into themes and support evidence-based oversight. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) Document Intelligence Understand what the case contains Organise documents, emails and case files, identify evidence, assess completeness and support more consistent review activities. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) Use them together A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. [Talk to us](https://recordsure.com/contact/) ## Measuring success Measuring success What does profitable, scalable growth look like? The aim is not simply to complete the same work faster. It is to improve operating leverage — supporting more customers, cases and interactions while skilled people spend a greater proportion of their time on customers, interpretation, decisions and improvement. - Adviser or agent time released — Measure hours reclaimed from administration per week or month. - Customers supported per person — Track capacity growth without headcount increases. - Paraplanning and review capacity — Monitor case throughput and turnaround time improvements. - Cost per case — Compare direct cost reduction against capacity released for growth. - Right-first-time completion — Fewer hand-backs from earlier visibility of missing information. - Support headcount vs. revenue growth — Demonstrate operating leverage over time. ## Who benefits Who benefits Capacity for every level of your organisation - Executive and growth leaders — Gain a more scalable operating model that supports more customers, cases and interactions without a proportional increase in overhead. - Finance leaders — Distinguish direct cost reduction from capacity released for growth. Understand cost per case, headcount demand and operating leverage. - Operations leaders — Gain clearer visibility of throughput and constraints. Reduce hand-backs and improve turnaround times. - Customer-facing and support teams — Spend less time on low-value administration and more time applying expertise where it matters most — with customers. - Review and Quality Assurance teams — Access structured, navigable case evidence rather than reconstructing files from scratch. Review more cases with clearer prioritisation. ## Related outcomes Related outcomes Explore related outcomes - [Improve customer experiences and outcomes](https://recordsure.com/improve-customer-experience-outcomes/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Call to action Talk to us Create capacity for growth without adding headcount Explore how Recordsure can help your organisation release skilled capacity, strengthen evidence quality and support growth without adding proportional operational overhead. Talk to us https://recordsure.com/contact/ ## Frequently asked questions Frequently asked questions Profitable growth frequently asked questions - Does Recordsure reduce headcount? — The primary aim is to release skilled capacity and avoid unnecessary linear growth in administration and review costs. Recordsure reduces low-value searching, checking and reconstruction so people can focus on customers, judgement and improvement. - Can we start with one product? — Yes. Start with Conversation Intelligence where meeting administration and interaction intelligence are the priority. Start with Document Intelligence where case completeness, evidence discovery or review capacity is the constraint. Combine them when you need a joined-up view of what was said, what was documented and what the case supports. - How quickly can value be measured? — A practical implementation begins with a defined process, baseline measures and an agreed review framework. This allows the organisation to compare administration, turnaround, review effort, completeness and capacity before and after implementation. ## Insights Knowledge centre Insights and Perspectives - [From sampling to scale: why reviewing more conversations requires the right AI approach](https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/) - [Tech focus: Why is Document Intelligence the answer to Consumer Duty challenges?](https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/) - [Things financial advisers could be doing instead of post-meeting administration](https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/) - [Wealth managers: how digitalisation can revolutionise meeting follow up](https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/) ## Card for this outcome (grids, menus and footer) Create capacity for profitable growth Reduce manual searching, rework and review effort across operations. 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Clearer evidence of customer needs. More consistent support. Talk to us https://recordsure.com/contact/ ## Evidence strip - 100% — interaction oversight - Hundreds of thousands — of conversations analysed each year - Evidenced — outcomes backed by easy-to-search structured data - Intelligence-led — customer journeys ## Answer-first introduction Build a more complete, evidence-based understanding of every customer journey. Recordsure connects what customers said with what was documented and what happened next, helping teams prepare better, identify missed needs or support, and deliver more consistent experiences with accountable human judgement. Customer experience improves when teams have an accurate view of previous interactions, needs, commitments, support and outstanding actions. Without that context, customers may repeat themselves, receive inconsistent information or experience delays while teams reconstruct what happened. - Better-prepared teams — Arrive at every interaction with a clear view of what was said, agreed and still outstanding. - Evidence of customer needs — Connect what was discussed with what was documented and what happened next. - Consistent human judgement — Every finding traceable to source evidence, every decision supported by people. ## The challenge The challenge How can firms improve customer experiences using real evidence? Customer experience improves when teams have an accurate, evidence-linked view of what was said, what was documented and what happened next. Recordsure turns conversations and case material into usable, evidence-linked intelligence. It helps people prepare for the next interaction, follow up consistently and identify gaps earlier, while preserving access to the source material behind each finding. ## Technology cards Technology Where does the intelligence come from? Together, Conversation Intelligence and Document Intelligence provide an evidence-linked view of every customer journey, connecting what was said with what was documented and what happened next. Conversation Intelligence Understand what was said Capture customer meetings and calls, create transcripts and structured notes, organise interactions into themes and support evidence-based oversight. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) Document Intelligence Understand what the case contains Organise documents, emails and case files, identify evidence, assess completeness and support more consistent review activities. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) Use them together A more complete oversight Create a more complete view of what was discussed, what was documented and how evidence supports customer or operational decisions. [Talk to us](https://recordsure.com/contact/) ## Measuring success Measuring success How should better customer outcomes be measured? Measures should reflect both the quality of the customer journey and the evidence supporting it. The right measures depend on the process, review framework and baseline agreed for each implementation. - Evidence of customer understanding — Track whether explanations, questions and responses are consistently captured and accessible. - Follow-up completion rates — Measure whether agreed actions and commitments are visible, completed and evidenced. - Recurring process gaps — Identify where the same evidence or process step is repeatedly missing across customer interactions. - Right-first-time completion — Reduce avoidable hand-backs from earlier identification of missing information. - Vulnerability identification — Evidence that relevant circumstances were identified, recorded and responded to appropriately. - Consistency across teams and channels — Compare customer journey quality across advisers, agents, products and regions. ## Who benefits Who benefits Intelligence for every team in the customer journey - Customer and conduct leaders — Gain evidence of real customer interactions and recurring themes. Understand where needs were met, where support was missed and where journeys can improve. - Advisers, agents and service teams — Arrive at each interaction with a clearer understanding of what was previously discussed, agreed and still outstanding. - Operations teams — Identify gaps, outstanding actions and incomplete processes earlier. Reduce avoidable delays and improve handovers. - Compliance and quality teams — Focus improvement activity on the interactions and processes where it makes the greatest difference. - Risk teams — Understand where vulnerability, conduct and service quality risks emerge across customer populations and journeys. ## Related outcomes Related outcomes Explore related outcomes - [Create capacity for profitable growth](https://recordsure.com/create-capacity-for-profitable-growth/) - [Improve operational efficiency](https://recordsure.com/improve-operational-efficiency/) - [Strengthen assurance and reduce risk](https://recordsure.com/strengthen-assurance-reduce-risk/) ## Call to action Talk to us Use real evidence to improve every customer journey Talk to Recordsure about the customer interactions, needs, support and service processes you want to understand more clearly. We will help you identify a practical starting point and an evidence-led approach to measuring improvement. Talk to us https://recordsure.com/contact/ ## Frequently asked questions Frequently asked questions Customer experience frequently asked questions - Does Recordsure use AI to make customer-outcome decisions? — For day-to-day use, Recordsure presents findings and supporting evidence to appropriately skilled people. It does not make material suitability or customer-outcome judgements on their behalf. - Can Recordsure evidence customer understanding? — Conversation Intelligence can organise evidence of explanations, questions and customer responses. The organisation defines the review framework and retains responsibility for interpreting whether the evidence demonstrates understanding and an appropriate outcome. - Can Recordsure help identify vulnerable-customer support? — Recordsure can help identify and organise evidence relating to customer circumstances, disclosed needs and the support discussed or provided. Findings must be interpreted within the organisation’s policies, permissions and human-review framework. - Can teams access the original evidence? — Yes, subject to permissions and configuration. Recordsure is designed to keep findings connected to the underlying recording, transcript, document or case evidence rather than presenting an unsupported conclusion. ## Insights Knowledge centre Insights and Perspectives - [Consumer Duty board reports: from governance to customer outcomes](https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/) - [Why outcomes monitoring needs more than management information](https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/) - [Consumer Understanding under the Consumer Duty: why evidence, not intent, is now the regulatory test](https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/) - [AI, compliance and customer outcomes: Recordsure in conversation with intelliflo](https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/) ## Card for this outcome (grids, menus and footer) Improve customer experiences and outcomes Better visibility of customer needs, interactions and support. Give frontline and oversight teams a clearer picture of what happened and what may need attention. 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While the bank recorded telephone calls, it lacked consistent oversight of in-person conversations. As a result, fewer than 5% of mortgage sales underwent quality assurance (QA) review. Manual observation was costly and difficult to scale, leaving most mortgage advice conversations without a meaningful check. This limited the bank’s ability to identify potential issues, including unsuitable advice and incomplete disclosures, before they led to complaints or customer harm. The bank needed a scalable way to capture mortgage advice conversations across every channel, identify higher-risk cases and build a consistent evidence base for QA and regulatory oversight. #### Our approach The bank introduced Recordsure technology to capture, analyse and review mortgage advice conversations across its telephone, video banking and face-to-face channels. The solution brought together Recordsure’s: - Conversation Intelligence - Workflow automation - Reporting & Analytics (MI) to give the bank a consistent view of interactions and help its QA teams focus attention where it was most needed. #### Outcomes By deploying AI-led oversight across the full population of mortgage conversations, the bank achieved outcomes that would not have been possible through manual review at any reasonable cost: - QA coverage rose from fewer than 5% to 100% of all mortgage conversations. - Review times were cut by more than 50%, freeing QA resource for higher-value work. - Advice standards improved, with a measurable reduction in complaints. - QA and compliance costs fell meaningfully, with substantial longer-term savings. - Today the bank analyses approximately 60,000 mortgage conversations per year. #### Evidence By applying technology-led oversight across the full population of mortgage conversations, the bank increased QA coverage from less than 5% to 100%. This gave the bank a more complete view of the advice being provided across its distribution channels. QA review times were reduced by more than 50%, freeing reviewers to focus on higher-risk cases and other higher-value work. The bank also reported improved advice standards, fewer complaints and lower QA and compliance costs, with meaningful longer-term savings. The bank now uses Recordsure to analyse approximately 60,000 mortgage conversations each year, supporting a more scalable and evidence-led approach to mortgage quality assurance. > QA coverage increased from less than 5% to 100%, while cutting mortgage advice review times by more than half. #### Capturing conversations across every channel Recordsure’s **Conversation Intelligence** technology enabled advisers to securely record face-to-face mortgage meetings. These recordings were automatically uploaded to a central portal and analysed alongside the bank’s existing telephone and video banking recordings. Bringing these interactions together gave the bank a consistent view of mortgage advice conversations across its distribution channels and extended oversight to conversations that had previously been difficult to review. #### Prioritising higher-risk conversations Automated risk scoring and quality checks were applied to every mortgage conversation. Higher-risk cases were prioritised for human review, allowing QA teams to focus on the conversations most likely to require closer attention. The automated scoring achieved a reported user-verified human-AI agreement rate of 95%, giving reviewers confidence in the prioritisation process while retaining human oversight. #### Structuring the review process Mortgage conversations were automatically classified by topic and organised into structured, colour-coded themes aligned with the bank’s existing QA checklists. This combination of **Workflow automation** and **Reporting & Analytics (MI)** helped reviewers work more methodically and consistently. Mortgage advice reviews were completed in half the previous time. #### Key facts - QA coverage of mortgage conversations: <5% → 100% - Reduction in QA review time: 50%+ - Human-AI agreement rate: 95% - Mortgage conversations/year: 60,000+ **Classifications:** Banking, Retail banking, Wealth and Advice, Conversation Intelligence, Reporting & Analytics (MI), Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - Client since: Since 2018 - Conversations per month: 5,000 - Active users: 400+ - Conversations per year: 60,000+ #### Case study PDF - [Improving oversight and quality assurance across mortgage advice conversations – Major Retail Bank – UK](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5c9dcf354fcb45b4994c9519dbcf3ae6/document-original-c932c5843f3284cd8cf4c4d1bfa2ac81ddf8a11296c344d21183f7411dbce7a9.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) [Canonical source](https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", 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"cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-10-17" }, { "@type": "Article", "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#case-study", "genre": "Case study", "headline": "Improving oversight and quality assurance across mortgage advice conversations", "url": "/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/", "isPartOf": { "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#webpage" }, "mainEntityOfPage": { "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#webpage" }, "datePublished": "2026-04-15", "dateModified": "2026-10-17", "inLanguage": "en-GB", "author": { "@id": "https://recordsure.com/#organization" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/709ce812f9d64edb9177ac61dbe0dc5b/thumbnail-1600-66c397801bf55d0bfd674cff621f171ca1a4af4cc9426dc909cc7ae69a059649.jpg", "about": [ { "@type": "Thing", "name": "Conversation Intelligence", "url": "https://recordsure.com/service/conversation-intelligence/" }, { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Retail banking", "url": "https://recordsure.com/sector/retail-banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Reporting & Analytics (MI)", "url": "https://recordsure.com/service/reporting-analytics/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "How a major UK retail bank increased QA coverage of mortgage advice conversations from less than 5% to 100%, while cutting review times by more than half.\u00a0", "description": "How a major UK retail bank increased QA coverage of mortgage advice conversations from less than 5% to 100%, while cutting review times by more than half.\u00a0", "articleBody": "The challenge\n\nA major UK retail bank handled around 5000 mortgage advice conversations each month across telephone and face-to-face adviser meetings. While the bank recorded telephone calls, it lacked consistent oversight of in-person conversations.\u00a0\n\nAs a result, fewer than 5% of mortgage sales underwent quality assurance (QA) review. Manual observation was costly and difficult to scale, leaving most mortgage advice conversations without a meaningful check. This limited the bank\u2019s ability to identify potential issues, including unsuitable advice and incomplete disclosures, before they led to complaints or customer harm.\u00a0\n\nThe bank needed a scalable way to capture mortgage advice conversations across every channel, identify higher-risk cases and build a consistent evidence base for QA and regulatory oversight.\n\nOur approach\n\nThe bank introduced Recordsure technology to capture, analyse and review mortgage advice conversations across its telephone, video banking and face-to-face channels.\u00a0\n\nThe solution brought together Recordsure\u2019s:\u00a0\n\n\u2022 Conversation Intelligence\u00a0\n\n\u2022 Workflow automation\u00a0\n\n\u2022 Reporting & Analytics (MI)\u00a0\u00a0\n\nto give the bank a consistent view of interactions and help its QA teams focus attention where it was most needed.\u00a0\n\nOutcomes\n\nBy deploying AI-led oversight across the full population of mortgage conversations, the bank achieved outcomes that would not have been possible through manual review at any reasonable cost:\n\n\u2022 QA coverage rose from fewer than 5% to 100% of all mortgage conversations.\n\u2022 Review times were cut by more than 50%, freeing QA resource for higher-value work.\n\u2022 Advice standards improved, with a measurable reduction in complaints.\n\u2022 QA and compliance costs fell meaningfully, with substantial longer-term savings.\n\u2022 Today the bank analyses approximately 60,000 mortgage conversations per year.\n\nEvidence\n\nBy applying technology-led oversight across the full population of mortgage conversations, the bank increased QA coverage from less than 5% to 100%. This gave the bank a more complete view of the advice being provided across its distribution channels.\u00a0\n\nQA review times were reduced by more than 50%, freeing reviewers to focus on higher-risk cases and other higher-value work. The bank also reported improved advice standards, fewer complaints and lower QA and compliance costs, with meaningful longer-term savings.\u00a0\n\n\u00a0The bank now uses Recordsure to analyse approximately 60,000 mortgage conversations each year, supporting a more scalable and evidence-led approach to mortgage quality assurance.\u00a0", "wordCount": 369, "keywords": [ "Banking", "Retail banking", "Wealth and Advice", "Conversation Intelligence", "Reporting & Analytics (MI)", "Workflow automation" ], "reviewedBy": { "@type": "Person", "name": "Recordsure Editorial Team", "url": "/meet-the-team/" }, "potentialAction": { "@type": "ContactAction", "name": "Explore Conversation Intelligence", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/conversation-intelligence/" } }, "mentions": [ { "@type": "QuantitativeValue", "name": "QA coverage of mortgage conversations", "value": 100, "unitText": "%" }, { "@type": "QuantitativeValue", "name": "Reduction in QA review time", "value": 50, "unitText": "%+" }, { "@type": "QuantitativeValue", "name": "Human-AI agreement rate", "value": 95, "unitText": "%" }, { "@type": "QuantitativeValue", "name": "Mortgage conversations/year", "value": 60000, "unitText": "conversations/year" } ] }, { "@type": "FAQPage", "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#faqpage", "isPartOf": { "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How did the bank achieve 100% coverage of mortgage advice conversations?", "acceptedAnswer": { "@type": "Answer", "text": "The bank used Recordsure technology to capture and analyse mortgage advice conversations across telephone, video banking and face-to-face channels. Automated quality checks were then applied across the full population of conversations, rather than relying on a small sample for manual review." } }, { "@type": "Question", "name": "What was the bank\u2019s QA coverage before Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Fewer than 5% of the bank\u2019s mortgage sales were subject to QA review. After introducing Recordsure, QA coverage increased to 100% of mortgage advice conversations.\u00a0" } }, { "@type": "Question", "name": "How closely did the automated scoring align with human reviewers?", "acceptedAnswer": { "@type": "Answer", "text": "The bank reported a user-verified human-AI agreement rate of 95%. Human reviewers remained responsible for examining the higher-risk cases the technology prioritised." } }, { "@type": "Question", "name": "How much time did the bank save on mortgage advice reviews?", "acceptedAnswer": { "@type": "Answer", "text": "Mortgage advice review times were reduced by more than 50%. Structured review themes and automated prioritisation helped QA teams work more methodically and focus on higher-risk conversations." } }, { "@type": "Question", "name": "What happened to QA and compliance costs?", "acceptedAnswer": { "@type": "Answer", "text": "The bank reported lower QA and compliance costs and substantial longer-term savings." } } ] }, { "@type": "DigitalDocument", "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#download-5c9dcf35-4fcb-45b4-994c-9519dbcf3ae6", "name": "Improving oversight and quality assurance across mortgage advice conversations \u2013 Major Retail Bank \u2013 UK", "encodingFormat": "application/pdf", "url": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5c9dcf354fcb45b4994c9519dbcf3ae6/document-original-c932c5843f3284cd8cf4c4d1bfa2ac81ddf8a11296c344d21183f7411dbce7a9.pdf", "contentUrl": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5c9dcf354fcb45b4994c9519dbcf3ae6/document-original-c932c5843f3284cd8cf4c4d1bfa2ac81ddf8a11296c344d21183f7411dbce7a9.pdf", "isAccessibleForFree": true, "exampleOfWork": { "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#case-study" }, "isPartOf": { "@id": "https://recordsure.com/case-studies/improving-oversight-and-quality-assurance-across-mortgage-advice-conversations/#webpage" }, "inLanguage": "en-GB", "contentSize": "2219610" } ] } ``` ### Enhanced QA oversight and reporting for Business Banking - URL: https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/ - Published: 2023-08-23 - Modified: 2026-10-17 **Service:** Conversation Intelligence **Topic:** Business Banking QA **Client:** Major Tier 1 Bank — UK A major UK Tier 1 Bank used Conversation Intelligence to centralise QA for Business Banking conversations, reduce observation travel and feed recordings into quality reporting. #### Key outcomes - Business banking conversations reviewed centrally without need for in-person observations. - QA teams have central access to recorded face-to-face and remote conversations. - Structured conversation analysis helps reviewers navigate directly to relevant parts of each interaction. - Management information (MI) supports the identification of individual and thematic trends. - Data is transferred through an API into the bank’s central quality assurance reporting. #### The challenge The business banking division of a major UK tier one bank needed to improve QA oversight of conversations between clients and advisers. These interactions took place both in person and through video calls. The bank wanted to bring them into a central QA process without relying on supervisors to conduct in-person observations. The bank wanted to review these conversations centrally without regularly deploying supervisors to observe advisers in person. Reviews also needed to feed into its existing QA processes without creating an additional resource burden for the QA team. The requirement covered account-opening conversations relating to current accounts, overdrafts, savings, credit cards and loans. The bank needed a secure and scalable way to capture these interactions, make them available to central reviewers and incorporate the resulting evidence into its QA reporting. #### Our approach The bank introduced Recordsure technology to securely capture business banking conversations and make them available to its central QA team. The solution brought together **Conversation Intelligence****,** **Reporting & Analytics (MI****)** and **API & Integrations**. This gave reviewers central access to recorded interactions, structured the review process and connected the resulting data with the bank’s wider quality assurance reporting. #### Outcomes The bank established a central record of business banking conversations that had previously lacked consistent oversight. Its QA team could access recorded face-to-face and remote interactions centrally, helping it identify potential issues proactively rather than relying on supervisors to be present during client meetings. Reducing the need for in-person observations delivered savings in travel and associated expenses. At the same time, structured conversation analysis made the review process more efficient, helping the QA team manage the increased number of cases available for review. The bank also reported improved advice standards and fewer complaints. Interactive management information supported oversight of individual and thematic trends, while API connectivity enabled Recordsure data to contribute to central QA reporting. > Centralised QA oversight helped to reduce travel costs, improve advice standards and cut complaints. #### Capturing in-person and remote conversations Recordsure’s **Conversation Intelligence** technology enabled advisers to securely record face-to-face conversations in branches and remote customer conversations across different live environments. Advisers used iPhone and Windows devices to record the interactions. The recordings were then securely uploaded to the Recordsure platform, giving central QA teams access to business banking conversations that had previously required in-person observation. #### Supporting more focused reviews Conversation analysis gave reviewers an immediate visual indication of whether the adviser had addressed the required points during the interaction. Reviewers could navigate directly to relevant sections of a conversation rather than working through the entire recording sequentially. This enabled the QA team to conduct its reviews more methodically and efficiently. These efficiencies helped offset the additional review workload created by recording more conversations. #### Identifying individual and thematic trends The bank’s QA team gained central access to recorded conversations alongside interactive and customisable MI. This **Reporting & Analytics (MI)** capability helped the team identify potential issues and examine individual and thematic trends across business banking conversations. #### Connecting conversation data with central reporting Data from the Recordsure platform was exported through an API into the bank’s central QA reporting. This **API & Integrations** capability allowed evidence and insight from recorded conversations to feed into the bank’s existing reporting environment #### Key facts - Recorded conversation access: 100% - Conversations per year: 6,500 - With Recordsure: 5 - Covered by the QA process: 5 **Classifications:** Banking, Business banking, Lending and Credit, Wealth and Advice, Conversation Intelligence, Reporting & Analytics (MI), Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - Client for: 5 years - Conversations per year: 6,500+ - Central access to recorded conversations: 100% - Connected into central QA reporting: Reporting data fed #### Case study PDF - [Enhanced QA oversight and reporting for Business Banking – Major Tier 1 Bank – UK](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f16dda1a6e064365ba5f6ecfa681034f/document-original-a13ef26dad9a8a720f357aac14dd1956ebbe504dfe94bcf509e074b105ce8f74.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) [Canonical source](https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, 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"https://recordsure.com/service/conversation-intelligence/" }, { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Business banking", "url": "https://recordsure.com/sector/business-banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Reporting & Analytics (MI)", "url": "https://recordsure.com/service/reporting-analytics/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A major UK Tier 1 Bank used Conversation Intelligence to centralise QA for Business Banking conversations, reduce observation travel and feed recordings into quality reporting.", "description": "A major UK Tier 1 Bank used Conversation Intelligence to centralise QA for Business Banking conversations, reduce observation travel and feed recordings into quality reporting.", "articleBody": "The challenge\n\nThe business banking division of a major UK tier one bank needed to improve QA oversight of conversations between clients and advisers. These interactions took place both in person and through video calls. The bank wanted to bring them into a central QA process without relying on supervisors to conduct in-person observations.\u00a0\n\nThe bank wanted to review these conversations centrally without regularly deploying supervisors to observe advisers in person. Reviews also needed to feed into its existing QA processes without creating an additional resource burden for the QA team.\u00a0\n\nThe requirement covered account-opening conversations relating to current accounts, overdrafts, savings, credit cards and loans. The bank needed a secure and scalable way to capture these interactions, make them available to central reviewers and incorporate the resulting evidence into its QA reporting.\u00a0\n\nOur approach\n\nThe bank introduced Recordsure technology to securely capture business banking conversations and make them available to its central QA team.\u00a0\n\nThe solution brought together Conversation Intelligence, Reporting & Analytics (MI) and API & Integrations. This gave reviewers central access to recorded interactions, structured the review process and connected the resulting data with the bank\u2019s wider quality assurance reporting.\u00a0\n\nOutcomes\n\nThe bank established a central record of business banking conversations that had previously lacked consistent oversight. Its QA team could access recorded face-to-face and remote interactions centrally, helping it identify potential issues proactively rather than relying on supervisors to be present during client meetings.\u00a0\n\nReducing the need for in-person observations delivered savings in travel and associated expenses. At the same time, structured conversation analysis made the review process more efficient, helping the QA team manage the increased number of cases available for review.\u00a0\n\nThe bank also reported improved advice standards and fewer complaints. 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The recordings were uploaded to a central platform where QA teams could access and review them without relying on supervisors to observe the conversations in person.\u00a0" } }, { "@type": "Question", "name": "Which business banking conversations were captured?", "acceptedAnswer": { "@type": "Answer", "text": "The implementation covered account-opening conversations related to current accounts, overdrafts, savings, credit cards and loans. These conversations took place both face-to-face and remotely.\u00a0" } }, { "@type": "Question", "name": "How did Recordsure make the review process more efficient?", "acceptedAnswer": { "@type": "Answer", "text": "Conversation analysis gave reviewers a visual indication of whether an adviser had covered the required points. Reviewers could also navigate directly to relevant sections of the interaction, helping them complete reviews more methodically and efficiently.\u00a0" } }, { "@type": "Question", "name": "How was the conversation data used in the bank\u2019s reporting?", "acceptedAnswer": { "@type": "Answer", "text": "Interactive and customisable MI helped QA teams examine individual and thematic trends. Data was also exported through an API into the bank\u2019s central quality assurance reporting.\u00a0" } }, { "@type": "Question", "name": "What benefits did the bank report?", "acceptedAnswer": { "@type": "Answer", "text": "The bank reported lower travel and related expenses, improved advice standards and fewer complaints. It also gained central access to conversations that had previously lacked consistent oversight, supporting the proactive identification of potential issues.\u00a0" } } ] }, { "@type": "DigitalDocument", "@id": "https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/#download-f16dda1a-6e06-4365-ba5f-6ecfa681034f", "name": "Enhanced QA oversight and reporting for Business Banking \u2013 Major Tier 1 Bank \u2013 UK", "encodingFormat": "application/pdf", "url": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f16dda1a6e064365ba5f6ecfa681034f/document-original-a13ef26dad9a8a720f357aac14dd1956ebbe504dfe94bcf509e074b105ce8f74.pdf", "contentUrl": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f16dda1a6e064365ba5f6ecfa681034f/document-original-a13ef26dad9a8a720f357aac14dd1956ebbe504dfe94bcf509e074b105ce8f74.pdf", "isAccessibleForFree": true, "exampleOfWork": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/#case-study" }, "isPartOf": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-tier-1-bank-qa-oversight/#webpage" }, "inLanguage": "en-GB", "contentSize": "500840" } ] } ``` ### Digitalising interview recording to reduce cost and improve efficiency - URL: https://recordsure.com/case-studies/conversation-intelligence-uk-government-department/ - Published: 2023-08-23 - Modified: 2026-10-17 **Service:** Conversation Intelligence **Topic:** Interview recording **Client:** Government Department — UK A UK Government Department used Conversation Intelligence to replace tape recordings and paper forms, securely storing interview audio, answers and evidence in a digital process. #### Key outcomes - £125,000 annual saving from removing paper from the process. - Average interview time reduced by 4.4 hours per case through faster setup and completion. - Data gathering and analysis became three times faster, reducing from 22 days to less than seven days. - Remote interviews reduced travel and subsistence costs for case workers and interpreters. - Digital case files made interview recordings and supporting information readily accessible and searchable. #### The challenge A UK government department needed to modernise an interview recording and storage process that relied on tape recordings and paper-based forms. Interview information was completed by hand, then physically filed and stored alongside the recording for evidence and future reference. The process was manual, slow and inefficient, and in some cases the accuracy of the information was challenged. With more than 5,000 interviews taking place each month across video calls and face-to-face conversations, the department needed a secure digital alternative. The department needed to capture high-quality recordings alongside interviewees' answers and supporting documentation, creating a record that could be readily accessed when requested by interviewees, legal representatives, internal supervisors or other relevant parties. #### Our approach The department introduced Recordsure technology to replace its tape and paper based approach with a secure digital process for recording interviews and capturing associated information. Recordsure's **Conversation Intelligence** creates digital records of interviews and the supporting information connected to them. #### Outcomes - Moving from paper forms and tape recordings to a digital process delivered measurable cost and efficiency savings for the department. - Removing paper from the process generated an annual saving of £125,000, while faster interview setup and completion saved an average of 4.4 hours per case. - Data gathering and analysis became three times faster, reducing from 22 days to less than seven days. The ability to conduct multisite, multi-party remote interviews also reduced expensive travel and subsistence costs for case workers and interpreters. - The department also gained easily accessible and searchable case files, with interview recordings and associated information stored digitally for future review and reference. > By bringing interview recordings and supporting information together digitally, the department made every case easier to manage, access and review. #### Capturing interviews digitally Recordsure's **Conversation Intelligence** technology enabled interviewers to securely capture high-quality audio recordings of both face-to-face and remote interviews. For this implementation, the digital recording solution complied with the PACE Act as a Secure Digital Network Solution, replacing legacy PACE tape recorders and speeding up interview setup. #### Replacing paper-based interview forms The department also moved its pre-set interview questions from paper to digital forms. Interviewers could complete the required information digitally, with the form uploaded alongside the corresponding interview recording. This removed the need to manually complete and store paper forms and improved how interviewers used their time and skills. #### Bringing interview evidence together Interview recordings and forms were stored securely together and made available for review through a central web-based environment. This created searchable case files and a clear digital audit trail for interviews, replacing records previously split between physical forms and tape recordings. Interview audio and a government-branded PDF containing the form could also be downloaded for sharing with relevant parties. #### Key facts - Interviews per month: 5,000+ - Annual paper-process saving: £125k - Average interview time saving: 4.4 hour - Data gathering and analysis speed: 3x faster **Classifications:** Government, API & Integrations, Conversation Intelligence, Document Intelligence, Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - With Recordsure: Since 2016 - Interviews per month: 5,000+ - Average time saved per case: 4.4 hours - Supplier status: G-Cloud 13 supplier #### Case study PDF - [Digitalised interview recordings deliver cost and efficiency savings – Government Department – UK](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/fa3d4b48ee8149ee9324a6749e79efa1/document-original-b964f180cbccc225af047ebc09627eb985c63488421508ff485f8ee698563485.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) [Canonical source](https://recordsure.com/case-studies/conversation-intelligence-uk-government-department/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, 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Intelligence", "url": "https://recordsure.com/service/conversation-intelligence/" }, { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "API & Integrations", "url": "https://recordsure.com/service/api-integrations/" }, { "@type": "Thing", "name": "Document Intelligence", "url": "https://recordsure.com/service/document-intelligence/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A UK Government Department used Conversation Intelligence to replace tape recordings and paper forms, securely storing interview audio, answers and evidence in a digital process.", "description": "A UK Government Department used Conversation Intelligence to replace tape recordings and paper forms, securely storing interview audio, answers and evidence in a digital process.", "articleBody": "The challenge\n\nA UK government department needed to modernise an interview recording and storage process that relied on tape recordings and paper-based forms. Interview information was completed by hand, then physically filed and stored alongside the recording for evidence and future reference.\u00a0\n\nThe process was manual, slow and inefficient, and in some cases the accuracy of the information was challenged. With more than 5,000 interviews taking place each month across video calls and face-to-face conversations, the department needed a secure digital alternative.\u00a0\n\nThe department needed to capture high-quality recordings alongside interviewees' answers and supporting documentation, creating a record that could be readily accessed when requested by interviewees, legal representatives, internal supervisors or other relevant parties.\u00a0\n\nOur approach\n\nThe department introduced Recordsure technology to replace its tape and paper based approach with a secure digital process for recording interviews and capturing associated information.\u00a0Recordsure's Conversation Intelligence creates digital records of interviews and the supporting information connected to them.\u00a0\n\nOutcomes\n\n\u2022 Moving from paper forms and tape recordings to a digital process delivered measurable cost and efficiency savings for the department.\u00a0\n\u2022 Removing paper from the process generated an annual saving of \u00a3125,000, while faster interview setup and completion saved an average of 4.4 hours per case.\u00a0\n\u2022 Data gathering and analysis became three times faster, reducing from 22 days to less than seven days. The ability to conduct multisite, multi-party remote interviews also reduced expensive travel and subsistence costs for case workers and interpreters.\u00a0\n\u2022 The department also gained easily accessible and searchable case files, with interview recordings and associated information stored digitally for future review and reference.\u00a0", "wordCount": 267, "keywords": [ "Government", "API & Integrations", "Conversation Intelligence", "Document Intelligence", "Workflow automation" ], "reviewedBy": { "@type": "Person", "name": "Recordsure Editorial Team", "url": "/meet-the-team/" }, "potentialAction": { "@type": "ContactAction", "name": "Explore Conversation Intelligence", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/conversation-intelligence/" } }, "mentions": [ { "@type": "QuantitativeValue", "name": "Interviews per month", "value": 5000, "unitText": "interviews" }, { "@type": "QuantitativeValue", "name": "Annual paper-process saving", "value": 125, "unitText": "\u00a3k" }, { "@type": "QuantitativeValue", "name": "Average interview time saving", "value": 4.4, "unitText": "hours" }, { "@type": "QuantitativeValue", "name": "Data gathering and analysis speed", "value": 3, "unitText": "x" } ] }, { "@type": "FAQPage", "@id": "https://recordsure.com/case-studies/conversation-intelligence-uk-government-department/#faqpage", "isPartOf": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-uk-government-department/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How did the department digitalise its interview recording process?", "acceptedAnswer": { "@type": "Answer", "text": "The department replaced legacy tape recorders and paper-based forms with Recordsure technology. 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It also reduced travel and subsistence costs for caseworkers and interpreters by enabling multisite, multi-party remote interviews.\u00a0" } }, { "@type": "Question", "name": "How much time did the new interview process save?", "acceptedAnswer": { "@type": "Answer", "text": "Faster interview setup and completion saved an average of 4.4 hours per case. Data gathering and analysis also became three times faster, reducing from 22 days to less than seven days.\u00a0" } }, { "@type": "Question", "name": "How are interview records stored and accessed?", "acceptedAnswer": { "@type": "Answer", "text": "Interview recordings and forms are securely stored together and made available for review. 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The firm wanted to improve efficiency through AI or increase reviewer effectiveness with a dedicated advice review tool. It initially targeted a 20-25% increase in reviewer output, without sacrificing review quality. The consultancy also wanted to strengthen its proposition with trend analysis. This would allow its end clients to identify areas where training and competency interventions could be targeted and provide insight that could complement their Consumer Duty dashboards. #### Our approach Recordsure provided technology to digitise and structure the review process, reduce the lower-skilled tasks undertaken by reviewers and provide operational and analytical information from the resulting review data. The solution brought together **Document Intelligence**, **Workflow automation** and **Reporting & Analytics (MI)** to support a more consistent and efficient approach to wealth advice file reviews. #### Outcomes The consultancy increased review efficiency by more than 50%, exceeding its original target of 20-25%. File review time was reduced by 50%. Alongside these efficiency gains, the consultancy improved the consistency and quality of its review output, without sacrificing quality for speed. Automating lower-skilled tasks allowed highly skilled people to spend less time on document classification, dating and searching for relevant information. The consultancy reported increased company efficiency and improved employee job satisfaction as a result. Trend analysis also strengthened the consultancy's proposition to end clients by helping identify areas needing attention, while operational and analytical management information (MI) provided insight across handling times, outcomes, products, advisers, client groups and vulnerable customers. > File review time cut by 50% while improving the consistency and quality of every review. #### Consistent review process Recordsure's **Workflow automation** embedded the consultancy's review processes and procedures into an automated workflow. This provided a consistent approach to each review and supported more equitable treatment across clients. The consistent review process also enabled the consultancy to identify root causes and trends in its review findings. #### Reducing manual document review Recordsure technology automatically classified and dated documents, achieving a 92% success rate. It also surfaced relevant parts of documents for reviewers, rather than requiring them to manually search for the information they needed. This **Document Intelligence** capability removed some lower-skilled tasks from highly skilled reviewers and delivered efficiency gains compared with the consultancy's previous manual approach. Reviewers could record their conclusion and the evidence supporting it, with dedicated outputs bringing both together. The resulting evidence pack included the marked-up documents used to support the review conclusion. #### Turning review findings into useful insight **Reporting & Analytics (MI)** provided the consultancy with operational and analytical information from its file reviews. Operational information included average handling time and breakdowns by outcome type. Analytical information could be broken down by product, adviser, client group and vulnerable customers. The consultancy could use this analysis as an additional source of insight for its end clients. #### Key facts - Reduction in file review time: 50%+ - Classification and dating success rate: 92% - File reviews per year: 1,500 - 2,000 - Increase in review efficiency: 50%+ **Classifications:** Wealth and Advice, API & Integrations, Document Intelligence, Reporting & Analytics (MI), Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - Recordsure client: Since 2016 - File reviews per year: 1,500 - 2,000 - Reduction in review time: 50% - Classification and dating success rate: 92% #### Case study PDF - [Scale up file review provisions without increasing costs – Consultancy Managed Services – UK](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bc94e9a5759a4f67a8277848b1cb0ef9/document-original-cc13b6280a8ea084454969d1549bd6bc71af517bdfc3c5f1685b1d5d959924b9.pdf) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) [Canonical source](https://recordsure.com/case-studies/document-intelligence-consultancy-managed-services-uk/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": 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"url": "https://recordsure.com/service/document-intelligence/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "API & Integrations", "url": "https://recordsure.com/service/api-integrations/" }, { "@type": "Thing", "name": "Reporting & Analytics (MI)", "url": "https://recordsure.com/service/reporting-analytics/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A UK consultancy used Document Intelligence to increase wealth advice file review capacity, improve thematic trend analysis and avoid a linear increase in review costs.", "description": "A UK consultancy used Document Intelligence to increase wealth advice file review capacity, improve thematic trend analysis and avoid a linear increase in review costs.", "articleBody": "The challenge\n\nA UK consultancy wanted to scale its managed services provision for wealth advice reviews without costs increasing at the same rate.\u00a0\n\nThe firm wanted to improve efficiency through AI or increase reviewer effectiveness with a dedicated advice review tool. It initially targeted a 20-25% increase in reviewer output, without sacrificing review quality.\u00a0\u00a0\n\nThe consultancy also wanted to strengthen its proposition with trend analysis. This would allow its end clients to identify areas where training and competency interventions could be targeted and provide insight that could complement their Consumer Duty dashboards.\n\nOur approach\n\nRecordsure provided technology to digitise and structure the review process, reduce the lower-skilled tasks undertaken by reviewers and provide operational and analytical information from the resulting review data.\u00a0\u00a0\n\nThe solution brought together Document Intelligence, Workflow automation and Reporting & Analytics (MI) to support a more consistent and efficient approach to wealth advice file reviews.\u00a0\n\nOutcomes\n\nThe consultancy increased review efficiency by more than 50%, exceeding its original target of 20-25%. File review time was reduced by 50%. Alongside these efficiency gains, the consultancy improved the consistency and quality of its review output, without sacrificing quality for speed.\u00a0\n\nAutomating lower-skilled tasks allowed highly skilled people to spend less time on document classification, dating and searching for relevant information. 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It automated document classification and dating and surfaced relevant information within documents for reviewers, reducing time spent on lower-skilled manual tasks.\u00a0" } }, { "@type": "Question", "name": "How much did file review efficiency improve?", "acceptedAnswer": { "@type": "Answer", "text": "Review efficiency increased by more than 50%, exceeding the consultancy's initial target of a 20-25% increase in user output. File review time was also reduced by 50%.\u00a0" } }, { "@type": "Question", "name": "How did Recordsure support consistency across file reviews?", "acceptedAnswer": { "@type": "Answer", "text": "The consultancy embedded its review processes and procedures into an automated workflow, providing a consistent approach to each review.\u00a0\u00a0" } }, { "@type": "Question", "name": "What evidence was retained to support review conclusions?", "acceptedAnswer": { "@type": "Answer", "text": "Reviewers could record their conclusion alongside the evidence supporting it. An evidence pack of the marked-up documents used to support the conclusion was also provided.\u00a0" } }, { "@type": "Question", "name": "How did the consultancy use reporting and analytics?", "acceptedAnswer": { "@type": "Answer", "text": "Operational information included average handling times and breakdowns by outcome type. 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The work involved assessing more than 45 million documents and completing the exercise within a year, while maintaining a strong evidence trail for the regulator. The technology needed to handle more than 200,000 documents a day, integrate with existing workflow and MI solutions and scale to support around 500 users. The consultancy also targeted a 40% reduction in average handling time without compromising review quality. Alongside the scale and speed of the exercise, the consultancy needed a definitive record of its review findings and the evidence supporting them that could withstand regulatory scrutiny. #### Our approach Recordsure used its technology to create a tailored approach to analysing and reviewing the large volume of documents involved in the remediation exercise. The solution brought together **Document Intelligence**, **Workflow automation** and **Reporting & Analytics (MI)**, connecting document analysis and review evidence with the consultancy’s existing workflow and MI environment. #### Outcomes The consultancy completed: - 64,000 case reviews - Involved 45 million documents - Document ingestion volumes of more than 200,000 documents per day capable with Recordsure technology Document review and handling: - Average handling time was reduced by 50%, exceeding the consultancy’s original target of a 40% reduction - Document classification and dating achieved a 95% success rate - Around 95% of documents that were irrelevant to the review outcome could be excluded from reviewers’ attention, while key relevant information was surfaced to support the review. The consultancy also gained an evidence pack for each concluded case containing the marked-up documents used to support the outcome. Recordsure interfaced with the existing workflow and MI solutions, bringing document analysis, the review process and supporting evidence together within the wider remediation approach. > Average handling time was reduced by 50%—exceeding the original target—across 64,000 case reviews and 45 million documents. #### Analysing documents at scale Recordsure’s **Document Intelligence** classified, dated and analysed documents using AI and business rules. The technology classified and dated 45 million documents across 70 file types dating back to 2006, applying bespoke categories relevant to the remediation exercise. The technology also scaled dynamically to accommodate peaks and troughs in document volumes. The process achieved a 95% classification and dating success rate. It also identified and surfaced relevant information from the documents, helping reviewers focus on evidence pertinent to the review rather than working through large quantities of irrelevant material. #### Connecting document analysis with the review process Once documents had been ingested, the consultancy’s existing workflow tool was triggered to begin the case. Once documents had been ingested, the consultancy’s existing workflow tool was triggered to begin the case, connecting Recordsure’s document analysis with the wider review process. Reviewers could mark up documents in line with the core themes of the remediation and add bespoke narrative where required. #### Evidence for each outcome When a case reached its final outcome, an evidence pack was created containing copies of the documents used to reach the conclusion, together with the annotations and narrative applied during the review. Evidence for individual findings could be retained as electronic data or in-document mark-up and exported as PDFs, providing a record of the evidence supporting the review findings. A metadata file was also created for MI ingestion, supporting the connection between the review process and the consultancy’s existing management information environment. #### Key facts - Documents ingested: 45,000,000 - Case reviews: 64,000 - Daily document ingest: 200,000 - Classification and dating success rate: 95% **Classifications:** Banking, Business banking, Retail banking, Document Intelligence, Reporting & Analytics (MI), Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - Client for: 2 years - Users: 520 - Total documents ingested: 45,000,000 - Total case reviews: 64,000 #### Case study PDF - [Tech-enabled remediation reviews for Royal Commission finding – ‘Big 4’ Consultancy Firm – Australia](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9f84f021928541c1bd3ca3baea41f73d/document-original-2a1da2f5c50c2150d90f673b16b885d261de68fe75d8fa306bfa28b9ea2a9f70.pdf) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) [Canonical source](https://recordsure.com/case-studies/document-intelligence-big-4-consultancy-australia/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { 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major remediation exercise for a large Australian retail bank. The work involved assessing more than 45 million documents and completing the exercise within a year, while maintaining a strong evidence trail for the regulator.\u00a0\n\nThe technology needed to handle more than 200,000 documents a day, integrate with existing workflow and MI solutions and scale to support around 500 users. The consultancy also targeted a 40% reduction in average handling time without compromising review quality.\u00a0\n\nAlongside the scale and speed of the exercise, the consultancy needed a definitive record of its review findings and the evidence supporting them that could withstand regulatory scrutiny.\u00a0\n\nOur approach\n\nRecordsure used its technology to create a tailored approach to analysing and reviewing the large volume of documents involved in the remediation exercise.\u00a0\n\nThe solution brought together Document Intelligence, Workflow automation and Reporting & Analytics (MI), connecting document analysis and review evidence with the consultancy\u2019s existing workflow and MI environment.\u00a0\n\nOutcomes\n\nThe consultancy completed:\n\n\u2022 64,000 case reviews\n\u2022 Involved 45 million documents\n\u2022 Document ingestion volumes of more than 200,000 documents per day capable with Recordsure technology\n\nDocument review and handling:\n\n\u2022 Average handling time was reduced by 50%, exceeding the consultancy\u2019s original target of a 40% reduction\n\u2022 Document classification and dating achieved a 95% success rate\n\u2022 Around 95% of documents that were irrelevant to the review outcome could be excluded from reviewers\u2019 attention, while key relevant information was surfaced to support the review.\u00a0\u00a0\n\nThe consultancy also gained an evidence pack for each concluded case containing the marked-up documents used to support the outcome. 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Its 110 field agents worked across the UK in busy open environments, including shopping centres and car parks, typically holding conversations of around 10 minutes with potential customers. The central sales management team wanted greater visibility of those interactions without relying on physical observation. It needed a way to securely record conversations, digitally capture information about what was discussed and make both readily accessible to the central team. The provider also wanted to use the resulting data to improve its sales processes and evidence that the right products were being offered to the right customers. #### Our approach Recordsure technology enabled field agents to securely capture face-to-face customer conversations and digitally record information about each interaction. The solution brought together **Conversation Intelligence** and **Reporting & Analytics (MI)** to give the central sales management team access to customer interactions and the information associated with them. #### Outcomes The provider established central oversight of decentralised field sales conversations, giving its sales management team access to interactions that previously could only be overseen through physical observation. Digital forms replaced the previous manual process for capturing information about sales conversations, enabling faster and more effective documentation. The additional data and management information (MI) supported better tracking of sales performance, while recorded conversations provided evidence of how products were being sold and to whom. This gave the provider greater visibility of its sales process and better evidence of how products were being offered and sold to customers. The efficiencies created by the new approach also helped offset the additional resources the QA team needed to review the increased number of recorded conversations. > Central teams gained access to customer conversations that previously could only be overseen through physical observation. #### Capturing field sales conversations Recordsure's **Conversation Intelligence** technology enabled field agents to securely record face-to-face sales conversations using mobile phones and tablets. This allowed conversations in busy environments to be captured digitally, creating a record of interactions that the central sales management team otherwise could not oversee without physical observation. #### Digitising conversation information Alongside the recording, sales agents completed a purpose-built digital form to capture conversation details and record the potential customer's consent to being recorded. This replaced the previous manual process for documenting the interaction and kept the conversation information with the associated recording. #### Making conversations accessible centrally Once the conversation was complete, the recording and associated form were uploaded and made available for central access. This gave the central sales management team access to interaction evidence and information that had previously been unavailable centrally. #### Using conversation data to support oversight The additional data and **Reporting & Analytics (MI)** enabled the central sales management team to track sales performance and evidence how products were being sold and to whom. This supported greater visibility across a geographically dispersed field sales operation and provided information to improve the sales process. #### Key facts - Field agents: 110 - Typical conversation length: 10-minute - Conversations per month: 1,700 - Total conversations captured: 51,000 **Classifications:** Insurance, Utilities, Conversation Intelligence, Document Intelligence, Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - Time with Recordsure: 3 years - Total conversations per month: 1,700 - Total conversations captured: 51,000 - Users: 110 #### Case study PDF - [Centralised oversight of sales conversations for insurance provider – National Roadside Assistance and General Insurance Provider](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9b06f6de044e40f5b53ece0dd022d2d1/document-original-e01af2e462c7e040c6fe3ae06529ac48016b50842e376b8cbfb37e7514e9f17c.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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"lastReviewed": "2026-10-17" }, { "@type": "Article", "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#case-study", "genre": "Case study", "headline": "Centralising oversight of field sales insurance conversations", "url": "/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/", "isPartOf": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#webpage" }, "mainEntityOfPage": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#webpage" }, "datePublished": "2023-08-22", "dateModified": "2026-10-17", "inLanguage": "en-GB", "author": { "@id": "https://recordsure.com/#organization" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6954e2b071e54dfeb897353ba8a92a19/thumbnail-1024-a47f08ca2f83ebe3cc6df717c1fd05372d0401be61e480a09b71549e11d25056.jpg", "about": [ { "@type": "Thing", "name": "Conversation Intelligence", "url": "https://recordsure.com/service/conversation-intelligence/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Document Intelligence", "url": "https://recordsure.com/service/document-intelligence/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A national roadside assistance and general insurance provider used Conversation Intelligence to record field sales conversations, replace manual forms and give central teams accessible sales evidence.", "description": "A national roadside assistance and general insurance provider used Conversation Intelligence to record field sales conversations, replace manual forms and give central teams accessible sales evidence.", "articleBody": "The challenge\n\nA national roadside assistance and general insurance provider needed better oversight of its decentralised field sales operation. Its 110 field agents worked across the UK in busy open environments, including shopping centres and car parks, typically holding conversations of around 10 minutes with potential customers.\u00a0\n\nThe central sales management team wanted greater visibility of those interactions without relying on physical observation. It needed a way to securely record conversations, digitally capture information about what was discussed and make both readily accessible to the central team.\u00a0\n\nThe provider also wanted to use the resulting data to improve its sales processes and evidence that the right products were being offered to the right customers.\u00a0\n\nOur approach\n\nRecordsure technology enabled field agents to securely capture face-to-face customer conversations and digitally record information about each interaction.\u00a0\n\nThe solution brought together Conversation Intelligence\u00a0and Reporting & Analytics (MI) to give the central sales management team access to customer interactions and the information associated with them.\u00a0\n\nOutcomes\n\nThe provider established central oversight of decentralised field sales conversations, giving its sales management team access to interactions that previously could only be overseen through physical observation. Digital forms replaced the previous manual process for capturing information about sales conversations, enabling faster and more effective documentation.\u00a0\n\nThe additional data and management information (MI) supported better tracking of sales performance, while recorded conversations provided evidence of how products were being sold and to whom. This gave the provider greater visibility of its sales process and better evidence of how products were being offered and sold to customers.\u00a0\n\nThe efficiencies created by the new approach also helped offset the additional resources the QA team needed to review the increased number of recorded conversations.\u00a0", "wordCount": 284, "keywords": [ "Insurance", "Utilities", "Conversation Intelligence", "Document Intelligence", "Workflow automation" ], "reviewedBy": { "@type": "Person", "name": "Recordsure Editorial Team", "url": "/meet-the-team/" }, "potentialAction": { "@type": "ContactAction", "name": "Explore Conversation Intelligence", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/conversation-intelligence/" } }, "mentions": [ { "@type": "QuantitativeValue", "name": "Field agents", "value": 110, "unitText": "agents" }, { "@type": "QuantitativeValue", "name": "Typical conversation length", "value": 10, "unitText": "minutes" }, { "@type": "QuantitativeValue", "name": "Conversations per month", "value": 1700, "unitText": "conversations" }, { "@type": "QuantitativeValue", "name": "Total conversations captured", "value": 51000, "unitText": "conversations" } ] }, { "@type": "FAQPage", "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#faqpage", "isPartOf": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How did the provider gain central oversight of field sales conversations?", "acceptedAnswer": { "@type": "Answer", "text": "Field agents securely recorded face-to-face sales conversations using mobile phones and tablets. The recordings and associated digital forms were then made available centrally, giving the sales management team access to interactions that previously required physical observation.\u00a0" } }, { "@type": "Question", "name": "How many sales conversations were captured?", "acceptedAnswer": { "@type": "Answer", "text": "The engagement captured 51,000 sales conversations, with around 1,700 conversations recorded each month.\u00a0" } }, { "@type": "Question", "name": "How was information about each sales conversation recorded?", "acceptedAnswer": { "@type": "Answer", "text": "Sales agents completed a purpose-built digital form alongside the conversation recording. The form captured information about the interaction and recorded the potential customer's consent to being recorded.\u00a0" } }, { "@type": "Question", "name": "How did the central sales team use the additional data?", "acceptedAnswer": { "@type": "Answer", "text": "The central sales management team used the additional data and MI to track sales performance and evidence how products were being sold and to whom.\u00a0" } }, { "@type": "Question", "name": "What changed compared with the previous process?", "acceptedAnswer": { "@type": "Answer", "text": "Digital forms replaced the previous manual approach to documenting sales interactions, while securely recorded conversations gave the central team greater visibility of field sales conversations without relying on physical observation.\u00a0" } } ] }, { "@type": "DigitalDocument", "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#download-9b06f6de-044e-40f5-b53e-ce0dd022d2d1", "name": "Centralised oversight of sales conversations for insurance provider \u2013 National Roadside Assistance and General Insurance Provider", "encodingFormat": "application/pdf", "url": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9b06f6de044e40f5b53ece0dd022d2d1/document-original-e01af2e462c7e040c6fe3ae06529ac48016b50842e376b8cbfb37e7514e9f17c.pdf", "contentUrl": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9b06f6de044e40f5b53ece0dd022d2d1/document-original-e01af2e462c7e040c6fe3ae06529ac48016b50842e376b8cbfb37e7514e9f17c.pdf", "isAccessibleForFree": true, "exampleOfWork": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#case-study" }, "isPartOf": { "@id": "https://recordsure.com/case-studies/conversation-intelligence-national-roadside-assistance-insurance-provider/#webpage" }, "inLanguage": "en-GB", "contentSize": "576141" } ] } ``` ### Smarter, faster Quality Assurance for client-advisor conversations - URL: https://recordsure.com/case-studies/conversation-intelligence-large-tier-1-bank/ - Published: 2023-08-22 - Modified: 2026-10-17 **Service:** Conversation Intelligence **Topic:** Advice QA oversight **Client:** Large UK Tier 1 Bank A large UK Tier 1 Bank used Conversation Intelligence to capture advice conversations, support QA reviews and provide evidence for suitability reports and remediation checks. #### Key outcomes - Face-to-face and remote advice conversations could be reviewed without live observation - 15-20% time saving per advice event with increased QA review coverage and quality - Conversation evidence supported customer understanding and suitability report writing - Recorded conversations could be referenced when responding to complaints and verifying remediation activity - The bank also reported better consumer engagement, supporting more effective consumer support and understanding #### The challenge A large UK tier one bank needed better oversight of conversations taking place between financial planning managers and clients, both in person and remotely. Quality Assurance (QA) teams carried out paperwork checks and contacted customers after the event to check their understanding, but the bank had no way to quality assure the actual advice conversation without someone observing it. This was time and resource intensive. The bank wanted an unobtrusive way to record these conversations so it could review them centrally. It also wanted to make its QA process more efficient by using AI-driven speech analytics to help reviewers navigate and assess those interactions. #### Our approach Recordsure technology enabled the bank to securely capture and analyse in-person and remote client-adviser conversations, giving teams access to the interaction after the meeting. The solution centred on Conversation Intelligence, using recorded conversations, transcripts and AI-driven analysis to support QA teams and advisers. #### Outcomes The bank gained central oversight of in-person and remote client-adviser conversations without relying on live observation, supporting better utilisation and productivity across the QA team. QA review coverage and quality increased, while the bank achieved a 15-20% time saving per advice event. The bank also reported more suitable advice and more robust suitability reports. Advisers could refer back to conversations and use relevant transcript content when preparing suitability reports, helping them demonstrate what was discussed during advice meetings. The recorded conversations also supported complaint handling by providing evidence of what had been said during client-adviser meetings, while conversation analysis supported thematic QA checks and verification of remediation activity. The efficiencies created through the technology helped offset the additional QA resource associated with reviewing a greater number of recorded conversations > “Using Recordsure, for compliance, is revolutionary.” > > -- Large UK Tier 1 bank #### Capturing client-adviser conversations Recordsure's **Conversation Intelligence** enabled advisers to record face-to-face and remote conversations using iOS and Windows devices. Recordings were securely uploaded and made available for subsequent review. This gave the bank a way to review conversations after the event without requiring someone to observe each meeting in person. #### Creating a searchable record of the conversation Once a conversation had been captured, a transcript was produced alongside the audio recording. Advisers could use sections of the transcript in their suitability reports as evidence of what had been discussed during the advice meeting. This also provided a detailed record advisers could refer back to when preparing the report. #### Helping teams find relevant parts of conversations AI-driven analysis identified topics and process steps within customer conversations and highlighted relevant sections of the recordings. Advisers could navigate to specific sections they wanted to revisit when preparing suitability reports, while QA teams could review more methodically and efficiently. The technology also supported thematic QA checks and provided a way to verify that activity occurred during call remediation exercises. #### Key facts - Time saving per advice event: 15-20% - Conversations per month: Approx. 1,000 - Conversations per year: Approx. 11,000 - Users: 227 **Classifications:** Banking, Business banking, Retail banking, Wealth and Advice, API & Integrations, Conversation Intelligence, Document Intelligence, Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - With Recordsure: Since 2018 - Conversations/month: Approx. 1,000 - Conversations/year: Approx. 11,000 - Users: 220+ #### Case study PDF - [Smarter, faster Quality Assurance for client-advisor conversations – Large UK Tier 1 Bank](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e6a6bbd1fec44a8aad8cc8995d205b71/document-original-0ade958074e7db5ceff6302d888689422dfc7e2ead9f7e83fd16c791c37d7e18.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) [Canonical source](https://recordsure.com/case-studies/conversation-intelligence-large-tier-1-bank/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { 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{ "@type": "Thing", "name": "Business banking", "url": "https://recordsure.com/sector/business-banking/" }, { "@type": "Thing", "name": "Retail banking", "url": "https://recordsure.com/sector/retail-banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "API & Integrations", "url": "https://recordsure.com/service/api-integrations/" }, { "@type": "Thing", "name": "Document Intelligence", "url": "https://recordsure.com/service/document-intelligence/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A large UK Tier 1 Bank used Conversation Intelligence to capture advice conversations, support QA reviews and provide evidence for suitability reports and remediation checks.", "description": "A large UK Tier 1 Bank used Conversation Intelligence to capture advice conversations, support QA reviews and provide 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While its telephony provider already recorded conversations, the bank needed a way to capture face-to-face client-adviser conversations and analyse them at scale alongside its existing recordings. This created a gap in oversight for face-to-face discussions. The bank wanted greater visibility across its mortgage conversations so it could proactively identify trends and inherent risks at the frontline of the business and mitigate the risk of consumer harm before it occurred. It also needed to make the Quality Assurance (QA) process more efficient, enabling greater oversight without creating an unsustainable review burden. #### Our approach Recordsure technology enabled the bank to capture, analyse and review mortgage conversations across face-to-face meetings, telephony and video banking. The solution centred on **Conversation Intelligence****,** bringing different conversation channels into the QA process and using AI-driven analysis to help identify conversations requiring closer human review. #### Outcomes Mortgage sales oversight increased from less than 5% to 100%, giving the bank greater visibility across its mortgage conversations. At the same time, QA review time fell by more than 50%, helping the bank increase oversight while making the review process more efficient. The bank also improved advice standards and reduced the number of complaints. QA and Compliance costs were reduced, generating substantial longer-term savings. Risk scoring helped identify cases most in need of human review, while structured conversation analysis enabled QA teams to work through reviews more methodically and efficiently. > Advice conversation oversight increased from less than 5% to 100%, while QA review time fell by more than 50% #### Bringing mortgage conversations together Recordsure's **Conversation Intelligence** enabled advisers to securely record face-to-face mortgage meetings. The recordings were then uploaded and analysed alongside conversations from the bank's existing telephony and video banking recordings. This gave the bank oversight across its different mortgage conversation channels and addressed the previous gap around face-to-face interactions. #### Prioritising conversations for human review Mortgage conversations were risk-scored to help identify the cases most in need of human review. The risk scoring achieved a 95% user-verified human-AI agreement rate, helping the bank direct reviewer attention to cases requiring closer examination. #### Making QA reviews more efficient AI-driven analysis segmented mortgage conversations into colour-coded QA review checklist topics. QA teams could then use these topics to work through conversations more methodically and efficiently. This helped QA reviews be completed in half the previous time. #### Key facts - Mortgage sales oversight: From less than 5% to 100% - QA review time reduction: Over 50% - Human-AI agreement rate: 95% - Conversations per month: 5,000 **Classifications:** Banking, Business banking, Retail banking, Wealth and Advice, API & Integrations, Conversation Intelligence, Reporting & Analytics (MI), Workflow automation - Reviewed by: [Recordsure Editorial Team](https://recordsure.com/meet-the-team/) **Last reviewed:** 2026-10-17 #### Engagement snapshot - With Recordsure: Since 2018 - Total conversations per month: 5,000 - Total conversations per year: Approx. 60,000 - Users: 411 #### Case study PDF - [Increase QA oversight and reduce QA costs – Major Retail and Commercial Bank – UK](https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8afac63be91446da8dbbd2a331d2fc80/document-original-278ed256cab7ba81109203bd6738946d6622f40e9c9b8071916b53ded75c7326.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) [Canonical source](https://recordsure.com/case-studies/conversation-intelligence-major-retail-commercial-bank-uk/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, 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Intelligence", "url": "https://recordsure.com/service/conversation-intelligence/" }, { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Business banking", "url": "https://recordsure.com/sector/business-banking/" }, { "@type": "Thing", "name": "Retail banking", "url": "https://recordsure.com/sector/retail-banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "API & Integrations", "url": "https://recordsure.com/service/api-integrations/" }, { "@type": "Thing", "name": "Reporting & Analytics (MI)", "url": "https://recordsure.com/service/reporting-analytics/" }, { "@type": "Thing", "name": "Workflow automation", "url": "https://recordsure.com/service/workflow-automation/" } ], "abstract": "A major UK retail and commercial bank used Conversation Intelligence to extend QA oversight from under 5% to 100% of mortgage conversations while cutting review time.", "description": "A major UK retail and commercial bank used Conversation Intelligence to extend QA oversight from under 5% to 100% of mortgage conversations while cutting review time.", "articleBody": "The challenge\n\nA major UK retail and commercial bank was conducting approximately 5,000 mortgage conversations every month. While its telephony provider already recorded conversations, the bank needed a way to capture face-to-face client-adviser conversations and analyse them at scale alongside its existing recordings.\u00a0\n\nThis created a gap in oversight for face-to-face discussions. The bank wanted greater visibility across its mortgage conversations so it could proactively identify trends and inherent risks at the frontline of the business and mitigate the risk of consumer harm before it occurred. It also needed to make the Quality Assurance (QA) process more efficient, enabling greater oversight without creating an unsustainable review burden.\u00a0\n\nOur approach\n\nRecordsure technology enabled the bank to capture, analyse and review mortgage conversations across face-to-face meetings, telephony and video banking. The solution centred on Conversation Intelligence, bringing different conversation channels into the QA process and using AI-driven analysis to help identify conversations requiring closer human review.\u00a0\n\nOutcomes\n\nMortgage sales oversight increased from less than 5% to 100%, giving the bank greater visibility across its mortgage conversations. At the same time, QA review time fell by more than 50%, helping the bank increase oversight while making the review process more efficient.\u00a0\n\nThe bank also improved advice standards and reduced the number of complaints. QA and Compliance costs were reduced, generating substantial longer-term savings. 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This increased oversight of mortgage sales from less than 5% to 100%.\u00a0" } }, { "@type": "Question", "name": "How much did mortgage QA review time reduce?", "acceptedAnswer": { "@type": "Answer", "text": "QA review time reduced by more than 50%. Structured conversation analysis helped QA teams work through reviews more methodically and efficiently.\u00a0" } }, { "@type": "Question", "name": "How did Recordsure help prioritise conversations for review?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure risk-scored mortgage conversations to highlight cases most in need of human review. 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Its value grows when rules can be linked to operational evidence and customer outcomes. #### Key points - The FCA Handbook API provides structured, machine-readable access to rules, guidance, standards and glossary content. - The main compliance challenge is often evidencing how requirements are embedded in customer journeys and controls. - Interaction, review and monitoring data can help connect obligations to operational evidence and outcomes. - Technology can organise information and surface evidence, but accountability remains with the firm. The FCA’s new Handbook API gives firms and technology providers direct access to structured, machine-readable regulatory content. This could make requirements easier to identify, map and monitor, but firms must also be ready to demonstrate that policies and controls are reflected in customer interactions and outcomes. The real opportunity is to connect regulatory obligations with the operational evidence that proves compliance in practice. The [FCA has made its Handbook available directly through an API](https://www.fca.org.uk/news/blogs/making-compliance-simpler-opening-fca-handbook-new-api), or Application Programming Interface. This lets firms and technology providers access Handbook rules, guidance, technical standards and glossary content in a structured format that other applications can use. Until now, most firms have relied on the Handbook website, downloads or compliance solutions that collect and present this information. The API is another example of financial regulation becoming more data-driven. By making regulatory content easier for systems to consume and process, the FCA is creating opportunities for firms to automate parts of regulatory monitoring, rule mapping and change management. #### Why does this matter for compliance teams? Regulatory change is rarely the hardest part of compliance. The greater challenge is often demonstrating that requirements have been embedded consistently across customer journeys, advice processes, sales conversations and operational controls. A firm may be able to identify a Handbook change immediately, but the regulator will still want to understand how that change was assessed, implemented and monitored. It may also expect firms to evidence how customer outcomes have been considered and whether controls are operating as intended. This is where structured regulatory data becomes more valuable when combined with compliance evidence. Connecting a requirement to customer interactions, quality assurance reviews, monitoring activity and outcome testing can create a clearer audit trail and improve oversight. #### The growing importance of evidence Many firms already hold large volumes of customer communication and interaction data across calls, meetings, emails and digital channels. The challenge is often locating the right evidence quickly and consistently when needed. As regulatory content becomes more accessible through services such as the FCA Handbook API, firms may have greater opportunities to align regulatory obligations with monitoring and assurance activity. Rather than simply recording interactions, firms can focus on identifying where requirements are being met, where risks are emerging and where improvements may be needed. This can support: - quality assurance and file reviews; - Consumer Duty monitoring; - conduct risk assessments; - complaint investigations; - regulatory change implementation; - internal audit and second-line oversight. The objective is not to collect more data for its own sake. It is to create meaningful links between regulatory requirements, business activity and customer outcomes. #### Technology can support oversight, not replace it The FCA’s API provides access to regulatory content, but it does not interpret rules or decide how to apply them. Firms remain responsible for regulatory judgement, governance and implementation decisions. The same principle applies more widely to compliance technology. Tools can help firms organise information, identify risks and surface relevant evidence, but accountability remains with the firm. Firms evaluating the potential of the FCA Handbook API may therefore benefit from focusing on practical use cases rather than technology for its own sake. The most successful initiatives are likely to strengthen oversight, improve traceability and make compliance activity easier to evidence. The FCA’s Handbook API is another regulatory initiative supporting data-driven regulation and supervision. Firms that can connect requirements to real customer interactions, decisions and outcomes will be better placed to demonstrate compliance when it matters most. #### Supporting sources - [Making compliance simpler: opening the FCA Handbook through a new API](https://www.fca.org.uk/news/blogs/making-compliance-simpler-opening-fca-handbook-new-api) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Can the FCA Handbook API help firms demonstrate compliance?", "item": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/", "name": "Can the FCA Handbook API help firms demonstrate compliance?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-10-02T09:10:52+01:00", "dateModified": "2026-10-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-10-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Can the FCA Handbook API help firms demonstrate compliance?", "datePublished": "2026-10-02T09:10:52+01:00", "dateModified": "2026-10-09T04:50:06+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/2c2f3a9ef80d4cf7865c6e8df8d89f24/thumbnail-1600-761edf1efc56bf9622ee71907f621b01988a2117a54a4645f6e398db5c3b3359.jpg", "description": "The FCA Handbook API could help firms connect machine-readable regulatory requirements with monitoring, assurance activity and evidence from real customer interactions.", "inLanguage": "en-GB", "articleBody": "The FCA Handbook API makes regulatory content easier for systems to access and process, but it does not remove firms\u2019 responsibility for judgement and oversight. Its value grows when rules can be linked to operational evidence and customer outcomes.\n\nThe FCA\u2019s new Handbook API gives firms and technology providers direct access to structured, machine-readable regulatory content. This could make requirements easier to identify, map and monitor, but firms must also be ready to demonstrate that policies and controls are reflected in customer interactions and outcomes.\n\nThe real opportunity is to connect regulatory obligations with the operational evidence that proves compliance in practice.\n\nThe FCA has made its Handbook available directly through an API, or Application Programming Interface. This lets firms and technology providers access Handbook rules, guidance, technical standards and glossary content in a structured format that other applications can use.\n\nUntil now, most firms have relied on the Handbook website, downloads or compliance solutions that collect and present this information. The API is another example of financial regulation becoming more data-driven. By making regulatory content easier for systems to consume and process, the FCA is creating opportunities for firms to automate parts of regulatory monitoring, rule mapping and change management.\n\nWhy does this matter for compliance teams?\n\nRegulatory change is rarely the hardest part of compliance. The greater challenge is often demonstrating that requirements have been embedded consistently across customer journeys, advice processes, sales conversations and operational controls.\n\nA firm may be able to identify a Handbook change immediately, but the regulator will still want to understand how that change was assessed, implemented and monitored. It may also expect firms to evidence how customer outcomes have been considered and whether controls are operating as intended.\n\nThis is where structured regulatory data becomes more valuable when combined with compliance evidence. Connecting a requirement to customer interactions, quality assurance reviews, monitoring activity and outcome testing can create a clearer audit trail and improve oversight.\n\nThe growing importance of evidence\n\nMany firms already hold large volumes of customer communication and interaction data across calls, meetings, emails and digital channels. The challenge is often locating the right evidence quickly and consistently when needed.\n\nAs regulatory content becomes more accessible through services such as the FCA Handbook API, firms may have greater opportunities to align regulatory obligations with monitoring and assurance activity. Rather than simply recording interactions, firms can focus on identifying where requirements are being met, where risks are emerging and where improvements may be needed.\n\nThis can support:\n\n\u2022 quality assurance and file reviews;\n\u2022 Consumer Duty monitoring;\n\u2022 conduct risk assessments;\n\u2022 complaint investigations;\n\u2022 regulatory change implementation;\n\u2022 internal audit and second-line oversight.\n\nThe objective is not to collect more data for its own sake. It is to create meaningful links between regulatory requirements, business activity and customer outcomes.\n\nTechnology can support oversight, not replace it\n\nThe FCA\u2019s API provides access to regulatory content, but it does not interpret rules or decide how to apply them. Firms remain responsible for regulatory judgement, governance and implementation decisions.\n\nThe same principle applies more widely to compliance technology. Tools can help firms organise information, identify risks and surface relevant evidence, but accountability remains with the firm.\n\nFirms evaluating the potential of the FCA Handbook API may therefore benefit from focusing on practical use cases rather than technology for its own sake. The most successful initiatives are likely to strengthen oversight, improve traceability and make compliance activity easier to evidence.\n\nThe FCA\u2019s Handbook API is another regulatory initiative supporting data-driven regulation and supervision. Firms that can connect requirements to real customer interactions, decisions and outcomes will be better placed to demonstrate compliance when it matters most.", "wordCount": 612, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "FCA Handbook API" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Making compliance simpler: opening the FCA Handbook through a new API", "url": "https://www.fca.org.uk/news/blogs/making-compliance-simpler-opening-fca-handbook-new-api" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s new Handbook API gives firms and technology providers direct access to structured, machine-readable regulatory content. This could make requirements easier to identify, map and monitor, but firms must also be ready to demonstrate that policies and controls are reflected in customer interactions and outcomes.\n\nThe real opportunity is to connect regulatory obligations with the operational evidence that proves compliance in practice.\n\nThe FCA has made its Handbook available directly through an API, or Application Programming Interface. This lets firms and technology providers access Handbook rules, guidance, technical standards and glossary content in a structured format that other applications can use.\n\nUntil now, most firms have relied on the Handbook website, downloads or compliance solutions that collect and present this information. The API is another example of financial regulation becoming more data-driven. By making regulatory content easier for systems to consume and process, the FCA is creating opportunities for firms to automate parts of regulatory monitoring, rule mapping and change management." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "Why does this matter for compliance teams?", "text": "Regulatory change is rarely the hardest part of compliance. The greater challenge is often demonstrating that requirements have been embedded consistently across customer journeys, advice processes, sales conversations and operational controls.\n\nA firm may be able to identify a Handbook change immediately, but the regulator will still want to understand how that change was assessed, implemented and monitored. It may also expect firms to evidence how customer outcomes have been considered and whether controls are operating as intended.\n\nThis is where structured regulatory data becomes more valuable when combined with compliance evidence. Connecting a requirement to customer interactions, quality assurance reviews, monitoring activity and outcome testing can create a clearer audit trail and improve oversight." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "The growing importance of evidence", "text": "Many firms already hold large volumes of customer communication and interaction data across calls, meetings, emails and digital channels. The challenge is often locating the right evidence quickly and consistently when needed.\n\nAs regulatory content becomes more accessible through services such as the FCA Handbook API, firms may have greater opportunities to align regulatory obligations with monitoring and assurance activity. Rather than simply recording interactions, firms can focus on identifying where requirements are being met, where risks are emerging and where improvements may be needed.\n\nThis can support:\n\n\u2022 quality assurance and file reviews;\n\u2022 Consumer Duty monitoring;\n\u2022 conduct risk assessments;\n\u2022 complaint investigations;\n\u2022 regulatory change implementation;\n\u2022 internal audit and second-line oversight.\n\nThe objective is not to collect more data for its own sake. It is to create meaningful links between regulatory requirements, business activity and customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "Technology can support oversight, not replace it", "text": "The FCA\u2019s API provides access to regulatory content, but it does not interpret rules or decide how to apply them. Firms remain responsible for regulatory judgement, governance and implementation decisions.\n\nThe same principle applies more widely to compliance technology. Tools can help firms organise information, identify risks and surface relevant evidence, but accountability remains with the firm.\n\nFirms evaluating the potential of the FCA Handbook API may therefore benefit from focusing on practical use cases rather than technology for its own sake. The most successful initiatives are likely to strengthen oversight, improve traceability and make compliance activity easier to evidence.\n\nThe FCA\u2019s Handbook API is another regulatory initiative supporting data-driven regulation and supervision. Firms that can connect requirements to real customer interactions, decisions and outcomes will be better placed to demonstrate compliance when it matters most." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-the-fca-handbook-api-help-firms-demonstrate-compliance/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is the FCA Handbook API?", "acceptedAnswer": { "@type": "Answer", "text": "It is a service that provides structured, machine-readable access to FCA Handbook content, technical standards and glossary information for use in compatible software applications." } }, { "@type": "Question", "name": "Does the API interpret FCA rules?", "acceptedAnswer": { "@type": "Answer", "text": "No. It provides access to regulatory content, but firms remain responsible for interpreting requirements and deciding how they apply." } }, { "@type": "Question", "name": "Will the API reduce compliance responsibilities?", "acceptedAnswer": { "@type": "Answer", "text": "No. It may help firms access and process regulatory information more efficiently, but governance, judgement and oversight remain with the firm." } }, { "@type": "Question", "name": "Where can the API create practical value?", "acceptedAnswer": { "@type": "Answer", "text": "It can help firms connect regulatory requirements to evidence from customer interactions, quality assurance, monitoring activity and outcome testing." } } ] } ] } ``` ### Will simpler transaction reporting put greater focus on data quality? - URL: https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/ - Published: 2026-10-01 - Modified: 2026-10-09 **Topic:** Transaction reporting The FCA’s transaction reporting reforms reduce some obligations but do not lower expectations for data quality, governance or oversight. Firms need to review controls and evidence reporting effectiveness. #### Key points - The FCA reforms reduce fields, remove some instruments and shorten the default back-reporting period. - Lower reporting volume does not remove responsibility for accurate, complete and timely submissions. - Firms need evidence that controls, governance and reporting oversight remain effective. The FCA’s transaction reporting reforms aim to reduce complexity, remove low-value reporting, and improve regulatory data quality. While firms will have fewer reporting fields and some instruments will leave scope, regulatory expectations around data accuracy, governance and oversight remain unchanged. As reporting requirements become more focused, firms may face greater scrutiny of the quality, consistency and evidence of the data that remains. The reforms set out in the [FCA’s Policy Statement PS26/15](https://www.fca.org.uk/publications/policy-statements/ps26-15-improving-uk-transaction-reporting-regime) are intended to make the transaction reporting regime more proportionate and focus on reporting on the data the FCA considers most useful for supervision and market abuse monitoring. The changes, published in August 2026, build on a regime introduced under the Markets in Financial Instruments Directive II (MiFID II) and applied in the UK since 2018. While it increased transparency across financial markets, it also created a highly detailed reporting framework that has required significant investment in systems, controls and oversight. Over time, firms, industry bodies, and reporting providers have questioned whether every reporting requirement still delivers meaningful regulatory value. After consulting with industry, the FCA concluded that parts of the regime could be simplified without reducing its ability to supervise markets effectively. The resulting reforms remove reporting the regulator considers duplicative or low value, while retaining the information it sees as most important for market surveillance and supervision. #### The wider implications of changes to FCA's transaction reporting regime The changes also reflect the FCA’s broader post-Brexit review of inherited EU regulations. Rather than collecting more data, the regulator aims to improve the quality and usefulness of the information it receives. For firms, that creates an important distinction. Reporting volumes may reduce, but expectations around data quality, governance and oversight do not. #### What has the FCA actually changed? The reforms reduce reportable fields from 65 to 52, remove around seven million instruments that are only tradeable on EU venues, remove foreign exchange (FX) derivatives from scope and shorten the default back-reporting period from five years to three years. These changes should reduce reporting volumes and operational effort. However, firms will still need to review existing reporting frameworks and ensure controls remain effective. #### What should firms be paying attention to? - **Understanding where obligations change:** Firms first need to determine which reporting requirements, products and entities remain in scope. For larger organisations, consistency across systems, processes and teams will be critical. - **Maintaining confidence in reporting quality:** The FCA continues to rely on transaction reporting for supervision and market abuse monitoring. Firms therefore remain responsible for ensuring reports are accurate, complete and submitted on time. - **Demonstrating effective oversight:** Regulatory reporting is not simply about submitting data. Firms also need evidence that controls are working, risks are understood and governance arrangements remain effective. #### Why monitoring and evidencing still matter Simpler reporting does not mean lower regulatory risk. Transaction reporting remains an important supervisory tool and firms are still responsible for the quality and governance of the data they submit. That places continued emphasis on monitoring, quality assurance and evidencing compliance activity. Firms need visibility over reporting processes, decision-making and control effectiveness as reporting requirements evolve. Transaction reporting may be becoming simpler, but firms still need confidence that reporting controls are operating effectively. Recordsure helps firms monitor processes, provide evidence and strengthen oversight across regulatory reporting frameworks. #### Supporting sources - [FCA Policy Statement PS26/15](https://www.fca.org.uk/publications/policy-statements/ps26-15-improving-uk-transaction-reporting-regime) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Will simpler transaction reporting put greater focus on data quality?", "item": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/", "name": "Will simpler transaction reporting put greater focus on data quality?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-10-01T09:52:10+01:00", "dateModified": "2026-10-01T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-10-01" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Will simpler transaction reporting put greater focus on data quality?", "datePublished": "2026-10-01T09:52:10+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/d9269c42f7424a8cb491b7a1370ffbca/thumbnail-1024-b1ef9095244435ddc3ba163c7d92d868b3f1abd3ce22b1675c054d9c046273b3.jpg", "description": "The FCA is reducing transaction reporting complexity, but firms still need evidence that remaining data is accurate, governed and effectively monitored.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s transaction reporting reforms reduce some obligations but do not lower expectations for data quality, governance or oversight. Firms need to review controls and evidence reporting effectiveness.\n\nThe FCA\u2019s transaction reporting reforms aim to reduce complexity, remove low-value reporting, and improve regulatory data quality. While firms will have fewer reporting fields and some instruments will leave scope, regulatory expectations around data accuracy, governance and oversight remain unchanged. As reporting requirements become more focused, firms may face greater scrutiny of the quality, consistency and evidence of the data that remains.\n\nThe reforms set out in the FCA\u2019s Policy Statement PS26/15 are intended to make the transaction reporting regime more proportionate and focus on reporting on the data the FCA considers most useful for supervision and market abuse monitoring.\n\nThe changes, published in August 2026, build on a regime introduced under the Markets in Financial Instruments Directive II (MiFID II) and applied in the UK since 2018. While it increased transparency across financial markets, it also created a highly detailed reporting framework that has required significant investment in systems, controls and oversight. Over time, firms, industry bodies, and reporting providers have questioned whether every reporting requirement still delivers meaningful regulatory value.\n\nAfter consulting with industry, the FCA concluded that parts of the regime could be simplified without reducing its ability to supervise markets effectively. The resulting reforms remove reporting the regulator considers duplicative or low value, while retaining the information it sees as most important for market surveillance and supervision.\n\nThe wider implications of changes to FCA's transaction reporting regime\n\nThe changes also reflect the FCA\u2019s broader post-Brexit review of inherited EU regulations. Rather than collecting more data, the regulator aims to improve the quality and usefulness of the information it receives. For firms, that creates an important distinction. Reporting volumes may reduce, but expectations around data quality, governance and oversight do not.\n\nWhat has the FCA actually changed?\n\nThe reforms reduce reportable fields from 65 to 52, remove around seven million instruments that are only tradeable on EU venues, remove foreign exchange (FX) derivatives from scope and shorten the default back-reporting period from five years to three years. These changes should reduce reporting volumes and operational effort. However, firms will still need to review existing reporting frameworks and ensure controls remain effective.\n\nWhat should firms be paying attention to?\n\n\u2022 Understanding where obligations change: Firms first need to determine which reporting requirements, products and entities remain in scope. For larger organisations, consistency across systems, processes and teams will be critical.\n\u2022 Maintaining confidence in reporting quality: The FCA continues to rely on transaction reporting for supervision and market abuse monitoring. Firms therefore remain responsible for ensuring reports are accurate, complete and submitted on time.\n\u2022 Demonstrating effective oversight: Regulatory reporting is not simply about submitting data. Firms also need evidence that controls are working, risks are understood and governance arrangements remain effective.\n\nWhy monitoring and evidencing still matter\n\nSimpler reporting does not mean lower regulatory risk. Transaction reporting remains an important supervisory tool and firms are still responsible for the quality and governance of the data they submit.\n\nThat places continued emphasis on monitoring, quality assurance and evidencing compliance activity. Firms need visibility over reporting processes, decision-making and control effectiveness as reporting requirements evolve.\n\nTransaction reporting may be becoming simpler, but firms still need confidence that reporting controls are operating effectively. Recordsure helps firms monitor processes, provide evidence and strengthen oversight across regulatory reporting frameworks.", "wordCount": 575, "keywords": [ "Insurance" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Transaction reporting" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Policy Statement PS26/15", "url": "https://www.fca.org.uk/publications/policy-statements/ps26-15-improving-uk-transaction-reporting-regime" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s transaction reporting reforms aim to reduce complexity, remove low-value reporting, and improve regulatory data quality. While firms will have fewer reporting fields and some instruments will leave scope, regulatory expectations around data accuracy, governance and oversight remain unchanged. As reporting requirements become more focused, firms may face greater scrutiny of the quality, consistency and evidence of the data that remains.\n\nThe reforms set out in the FCA\u2019s Policy Statement PS26/15 are intended to make the transaction reporting regime more proportionate and focus on reporting on the data the FCA considers most useful for supervision and market abuse monitoring.\n\nThe changes, published in August 2026, build on a regime introduced under the Markets in Financial Instruments Directive II (MiFID II) and applied in the UK since 2018. While it increased transparency across financial markets, it also created a highly detailed reporting framework that has required significant investment in systems, controls and oversight. Over time, firms, industry bodies, and reporting providers have questioned whether every reporting requirement still delivers meaningful regulatory value.\n\nAfter consulting with industry, the FCA concluded that parts of the regime could be simplified without reducing its ability to supervise markets effectively. The resulting reforms remove reporting the regulator considers duplicative or low value, while retaining the information it sees as most important for market surveillance and supervision." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "headline": "The wider implications of changes to FCA's transaction reporting regime", "text": "The changes also reflect the FCA\u2019s broader post-Brexit review of inherited EU regulations. Rather than collecting more data, the regulator aims to improve the quality and usefulness of the information it receives. For firms, that creates an important distinction. Reporting volumes may reduce, but expectations around data quality, governance and oversight do not." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "headline": "What has the FCA actually changed?", "text": "The reforms reduce reportable fields from 65 to 52, remove around seven million instruments that are only tradeable on EU venues, remove foreign exchange (FX) derivatives from scope and shorten the default back-reporting period from five years to three years. These changes should reduce reporting volumes and operational effort. However, firms will still need to review existing reporting frameworks and ensure controls remain effective." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "headline": "What should firms be paying attention to?", "text": "\u2022 Understanding where obligations change: Firms first need to determine which reporting requirements, products and entities remain in scope. For larger organisations, consistency across systems, processes and teams will be critical.\n\u2022 Maintaining confidence in reporting quality: The FCA continues to rely on transaction reporting for supervision and market abuse monitoring. Firms therefore remain responsible for ensuring reports are accurate, complete and submitted on time.\n\u2022 Demonstrating effective oversight: Regulatory reporting is not simply about submitting data. Firms also need evidence that controls are working, risks are understood and governance arrangements remain effective." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "headline": "Why monitoring and evidencing still matter", "text": "Simpler reporting does not mean lower regulatory risk. Transaction reporting remains an important supervisory tool and firms are still responsible for the quality and governance of the data they submit.\n\nThat places continued emphasis on monitoring, quality assurance and evidencing compliance activity. Firms need visibility over reporting processes, decision-making and control effectiveness as reporting requirements evolve.\n\nTransaction reporting may be becoming simpler, but firms still need confidence that reporting controls are operating effectively. Recordsure helps firms monitor processes, provide evidence and strengthen oversight across regulatory reporting frameworks." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-simpler-transaction-reporting-put-greater-focus-on-data-quality/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is PS26/15?", "acceptedAnswer": { "@type": "Answer", "text": "PS26/15 is the FCA\u2019s policy statement setting out reforms to the UK\u2019s transaction reporting regime." } }, { "@type": "Question", "name": "Will firms have fewer reporting obligations once PS26/15 is introduced?", "acceptedAnswer": { "@type": "Answer", "text": "Yes. The FCA is reducing the number of reportable fields and removing certain instruments from scope." } }, { "@type": "Question", "name": "Does simpler reporting mean lower regulatory expectations?", "acceptedAnswer": { "@type": "Answer", "text": "No. Firms remain responsible for accurate, complete and well-governed reporting." } }, { "@type": "Question", "name": "Why does data quality still matter?", "acceptedAnswer": { "@type": "Answer", "text": "Transaction reporting remains an important source of information for market surveillance and supervisory activity." } }, { "@type": "Question", "name": "What should firms focus on now?", "acceptedAnswer": { "@type": "Answer", "text": "They should assess the impact of PS26/15, review existing controls and ensure they can demonstrate effective oversight of reporting processes." } } ] } ] } ``` ### FCA CP26/28: What the proposed AIFM reforms mean for governance and oversight - URL: https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/ - Published: 2026-08-28 - Modified: 2026-10-09 **Topic:** AIFM governance reforms The FCA’s CP26/28 proposals for Alternative Investment Fund Managers carry broader governance lessons. Firms beyond asset management should not treat the consultation as cross-sector rules, but can learn from its focus on information, oversight and evidence. #### Key points - CP26/28 proposes a more proportionate UK framework for Alternative Investment Fund Managers. - The consultation focuses on risk management, oversight, investor information and defined responsibilities. - Firms outside the AIFM regime are not directly affected solely because they are FCA regulated. - Governance records, MI and evidence of monitoring activity are increasingly important readiness capabilities. - Final rules are still some way off, with implementation currently envisaged in 2028. [The FCA’s CP26/28 consultation](https://www.fca.org.uk/publication/consultation/cp26-27.pdf) proposes a more proportionate UK regulatory framework for Alternative Investment Fund Managers, with requirements calibrated more closely to firms’ size and activities. Although the proposals are specific to the alternative investment sector, their focus on risk management, oversight, investor information and clearly defined responsibilities may also interest compliance and governance teams elsewhere in financial services. Firms should be careful not to treat the consultation as creating new cross-sector requirements, but it provides another example of the importance regulators place on effective oversight supported by reliable information and records. #### Why is the FCA reforming the AIFM regime? The FCA’s consultation brings a substantial package of proposed changes to the UK’s framework for Alternative Investment Fund Managers. The objective is to create a more proportionate, flexible and UK-focused regulatory regime while maintaining appropriate standards for protecting consumers and safeguarding market integrity. A key theme throughout the consultation is proportionality. The regulator is seeking to align requirements more closely to firms’ size, activities and risk profiles, reducing unnecessary complexity while maintaining effective oversight. The FCA currently envisages implementation in 2028 and this consultation provides an early indication of the regulatory principles that are becoming increasingly visible across financial services regulation. #### What the proposals suggest about information and oversight One of the most significant signals within the consultation is the continued emphasis on the quality of information available to firms and regulators. Although CP26/28 is primarily concerned with reform of the AIFM regime, its detailed proposals underline the continuing importance of reliable information, clearly defined responsibilities and effective oversight. This sits within a broader FCA focus on firms being able to explain how important decisions are made and how relevant risks are managed. The proposed reforms cover areas including risk management, liquidity, valuation, delegation, disclosures and annual reporting to investors. Published alongside the FCA’s separate consultation on fund reporting, they also illustrate the regulator’s wider focus on ensuring that regulatory requirements produce useful and proportionate information. For firms across financial services, this reinforces an important question: Can you show how material decisions are made, how relevant risks are assessed and how oversight operates in practice? #### Better information, stronger oversight The FCA’s proposals seek to improve how information is reported, shared and used. Better quality governance information has the potential to support stronger oversight, more effective challenge and more reliable decision-making. As regulators continue to focus on outcomes rather than processes alone, firms are increasingly expected to show how governance forums, risk teams and compliance functions use information to identify emerging issues and take action where appropriate. The ability to capture, organise and retrieve evidence of those activities is becoming an increasingly important aspect of regulatory readiness. #### Why firms beyond asset management should pay attention Firms outside the AIFM regime are not directly affected by these proposals solely because they are FCA regulated. However, compliance and governance teams may find the consultation useful as one example of the FCA seeking to combine proportional requirements with effective oversight and accountability. The FCA continues to place importance on effective governance, oversight and firms’ ability to explain and evidence how key decisions are reached and monitored. For compliance leaders and governance teams, this places greater importance on: - Capturing evidence of decision-making - Demonstrating effective challenge and oversight - Maintaining clear governance records - Linking management information to regulatory, investor or customer outcomes - Creating auditable records of monitoring activity These are increasingly important capabilities regardless of a firm’s regulatory classification. #### The broader regulatory direction The consultation aligns with a wider trend across financial services regulation. Regulators are seeking to reduce unnecessary complexity while maintaining accountability for outcomes and decision-making. That means firms may ultimately operate within more proportionate regulatory frameworks, but they should also expect continued scrutiny of how decisions are made, monitored and evidenced. The quality of governance records, oversight documentation and management information may become as important as the existence of the underlying process itself. #### What should firms do now? While final rules remain some way off, organisations may wish to use the consultation as an opportunity to assess the quality of their governance evidence and oversight records. Areas to consider include: - Reviewing how governance decisions are documented - Assessing the quality and accessibility of management information - Evaluating whether oversight activities can be evidenced effectively - Identifying gaps in governance record-keeping - Considering whether customer outcome monitoring can be more easily demonstrated The consultation may be focused on AIFMs, but it provides a useful reminder of the importance regulators place on reliable oversight, clear responsibilities and reliable information. #### What we'll be watching As the consultation develops, firms may wish to pay particular attention to: - How CP26/28 interacts with the FCA’s separate FRAME proposals for fund reporting - The role of governance information in regulatory oversight - Expectations around evidence-based decision-making - Final firm-size thresholds and the proposed categorisation framework - Interaction with wider Treasury legislation These areas could offer further insight into how regulatory expectations around governance and accountability continue to evolve. **What is CP26/28?** CP26/28 is the FCA’s consultation on a proposed new UK regulatory framework for Alternative Investment Fund Managers. The consultation explores how the regime could become more proportionate and flexible while maintaining appropriate protections. **Who is directly affected by FCA’s CP26/28?** The CP26/28 consultation is primarily relevant to AIFMs and other organisations involved in the alternative investment fund market. However, the themes around governance, reporting and oversight may have wider relevance across financial services. **When could the FCA CP26/28 proposals take effect?** The FCA currently envisages implementation in 2028, subject to the CP26/28 consultation feedback, further rulemaking and associated legislative reforms. **Why might CP26/28 be relevant to governance and compliance teams?** The FCA’s CP26/28 consultation reinforces broader regulatory themes around governance, oversight, management information and firms’ ability to evidence decision-making and oversight. **What role do records play in demonstrating effective oversight?** Across a range of regulatory frameworks, firms may be expected to retain sufficient information to explain how material risks were identified, decisions were reached and relevant outcomes were monitored. This is a broader regulatory observation rather than a specific new requirement proposed in CP26/28. **Are your governance records ready for increasing regulatory scrutiny?** As regulatory expectations continue to evolve, many firms are focusing on the quality, accessibility and consistency of the evidence used to support oversight and decision-making. Considering whether monitoring activities and resulting outcomes can be more easily demonstrated, why decisions were taken and how customer outcomes were monitored is becoming an increasingly important component of good governance. Recordsure helps regulated firms capture and analyse customer interactions and documentation, apply automated compliance checks and create accessible, auditable evidence for review and oversight. If your firm is reviewing the quality of its records, monitoring information or compliance evidence, our specialists can help you explore how Recordsure could support more efficient and consistent oversight. **Talk to Recordsure today.** #### Supporting sources - [FCA CP26/28 consultation](https://www.fca.org.uk/publication/consultation/cp26-27.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA CP26/28: What the proposed AIFM reforms mean for governance and oversight", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/", "name": "FCA CP26/28: What the proposed AIFM reforms mean for governance and oversight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-08-28T13:53:38+01:00", "dateModified": "2026-08-28T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-08-28" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA CP26/28: What the proposed AIFM reforms mean for governance and oversight", "datePublished": "2026-08-28T13:53:38+01:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/4121cb9ee57e44f3ad100b898cb69da0/thumbnail-1024-8aea51b0aa8cfe01236e386f734bf74e2991ab3c1637e05826365ee48872b1f1.jpg", "description": "The FCA\u2019s CP26/28 consultation is specific to AIFMs, but it illustrates wider regulatory themes around proportionate rules, governance information and oversight evidence.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s CP26/28 proposals for Alternative Investment Fund Managers carry broader governance lessons. Firms beyond asset management should not treat the consultation as cross-sector rules, but can learn from its focus on information, oversight and evidence.\n\nThe FCA\u2019s CP26/28 consultation proposes a more proportionate UK regulatory framework for Alternative Investment Fund Managers, with requirements calibrated more closely to firms\u2019 size and activities. Although the proposals are specific to the alternative investment sector, their focus on risk management, oversight, investor information and clearly defined responsibilities may also interest compliance and governance teams elsewhere in financial services. Firms should be careful not to treat the consultation as creating new cross-sector requirements, but it provides another example of the importance regulators place on effective oversight supported by reliable information and records.\n\nWhy is the FCA reforming the AIFM regime?\n\nThe FCA\u2019s consultation brings a substantial package of proposed changes to the UK\u2019s framework for Alternative Investment Fund Managers. The objective is to create a more proportionate, flexible and UK-focused regulatory regime while maintaining appropriate standards for protecting consumers and safeguarding market integrity.\n\nA key theme throughout the consultation is proportionality. The regulator is seeking to align requirements more closely to firms\u2019 size, activities and risk profiles, reducing unnecessary complexity while maintaining effective oversight.\n\nThe FCA currently envisages implementation in 2028 and this consultation provides an early indication of the regulatory principles that are becoming increasingly visible across financial services regulation.\n\nWhat the proposals suggest about information and oversight\n\nOne of the most significant signals within the consultation is the continued emphasis on the quality of information available to firms and regulators.\n\nAlthough CP26/28 is primarily concerned with reform of the AIFM regime, its detailed proposals underline the continuing importance of reliable information, clearly defined responsibilities and effective oversight. This sits within a broader FCA focus on firms being able to explain how important decisions are made and how relevant risks are managed.\n\nThe proposed reforms cover areas including risk management, liquidity, valuation, delegation, disclosures and annual reporting to investors. Published alongside the FCA\u2019s separate consultation on fund reporting, they also illustrate the regulator\u2019s wider focus on ensuring that regulatory requirements produce useful and proportionate information.\n\nFor firms across financial services, this reinforces an important question:\n\nCan you show how material decisions are made, how relevant risks are assessed and how oversight operates in practice?\n\nBetter information, stronger oversight\n\nThe FCA\u2019s proposals seek to improve how information is reported, shared and used. Better quality governance information has the potential to support stronger oversight, more effective challenge and more reliable decision-making.\n\nAs regulators continue to focus on outcomes rather than processes alone, firms are increasingly expected to show how governance forums, risk teams and compliance functions use information to identify emerging issues and take action where appropriate.\n\nThe ability to capture, organise and retrieve evidence of those activities is becoming an increasingly important aspect of regulatory readiness.\n\nWhy firms beyond asset management should pay attention\n\nFirms outside the AIFM regime are not directly affected by these proposals solely because they are FCA regulated. However, compliance and governance teams may find the consultation useful as one example of the FCA seeking to combine proportional requirements with effective oversight and accountability.\n\nThe FCA continues to place importance on effective governance, oversight and firms\u2019 ability to explain and evidence how key decisions are reached and monitored.\n\nFor compliance leaders and governance teams, this places greater importance on:\n\n\u2022 Capturing evidence of decision-making\n\n\u2022 Demonstrating effective challenge and oversight\n\n\u2022 Maintaining clear governance records\n\n\u2022 Linking management information to regulatory, investor or customer outcomes\n\n\u2022 Creating auditable records of monitoring activity\n\nThese are increasingly important capabilities regardless of a firm\u2019s regulatory classification.\n\nThe broader regulatory direction\n\nThe consultation aligns with a wider trend across financial services regulation. Regulators are seeking to reduce unnecessary complexity while maintaining accountability for outcomes and decision-making.\n\nThat means firms may ultimately operate within more proportionate regulatory frameworks, but they should also expect continued scrutiny of how decisions are made, monitored and evidenced.\n\nThe quality of governance records, oversight documentation and management information may become as important as the existence of the underlying process itself.\n\nWhat should firms do now?\n\nWhile final rules remain some way off, organisations may wish to use the consultation as an opportunity to assess the quality of their governance evidence and oversight records.\n\nAreas to consider include:\n\n\u2022 Reviewing how governance decisions are documented\n\n\u2022 Assessing the quality and accessibility of management information\n\n\u2022 Evaluating whether oversight activities can be evidenced effectively\n\n\u2022 Identifying gaps in governance record-keeping\n\n\u2022 Considering whether customer outcome monitoring can be more easily demonstrated\n\nThe consultation may be focused on AIFMs, but it provides a useful reminder of the importance regulators place on reliable oversight, clear responsibilities and reliable information.\n\nWhat we'll be watching\n\nAs the consultation develops, firms may wish to pay particular attention to:\n\n\u2022 How CP26/28 interacts with the FCA\u2019s separate FRAME proposals for fund reporting\n\n\u2022 The role of governance information in regulatory oversight\n\n\u2022 Expectations around evidence-based decision-making\n\n\u2022 Final firm-size thresholds and the proposed categorisation framework\n\n\u2022 Interaction with wider Treasury legislation\n\nThese areas could offer further insight into how regulatory expectations around governance and accountability continue to evolve.\n\nWhat is CP26/28?\n\nCP26/28 is the FCA\u2019s consultation on a proposed new UK regulatory framework for Alternative Investment Fund Managers. The consultation explores how the regime could become more proportionate and flexible while maintaining appropriate protections.\n\nWho is directly affected by FCA\u2019s CP26/28?\n\nThe CP26/28 consultation is primarily relevant to AIFMs and other organisations involved in the alternative investment fund market. However, the themes around governance, reporting and oversight may have wider relevance across financial services.\n\nWhen could the FCA CP26/28 proposals take effect?\n\nThe FCA currently envisages implementation in 2028, subject to the CP26/28 consultation feedback, further rulemaking and associated legislative reforms.\n\nWhy might CP26/28 be relevant to governance and compliance teams?\n\nThe FCA\u2019s CP26/28 consultation reinforces broader regulatory themes around governance, oversight, management information and firms\u2019 ability to evidence decision-making and oversight.\n\nWhat role do records play in demonstrating effective oversight?\n\nAcross a range of regulatory frameworks, firms may be expected to retain sufficient information to explain how material risks were identified, decisions were reached and relevant outcomes were monitored. This is a broader regulatory observation rather than a specific new requirement proposed in CP26/28.\n\nAre your governance records ready for increasing regulatory scrutiny?\n\nAs regulatory expectations continue to evolve, many firms are focusing on the quality, accessibility and consistency of the evidence used to support oversight and decision-making.\n\nConsidering whether monitoring activities and resulting outcomes can be more easily demonstrated, why decisions were taken and how customer outcomes were monitored is becoming an increasingly important component of good governance.\n\nRecordsure helps regulated firms capture and analyse customer interactions and documentation, apply automated compliance checks and create accessible, auditable evidence for review and oversight.\n\nIf your firm is reviewing the quality of its records, monitoring information or compliance evidence, our specialists can help you explore how Recordsure could support more efficient and consistent oversight.\n\nTalk to Recordsure today.", "wordCount": 1180, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-8" } ], "about": [ { "@type": "Thing", "name": "AIFM governance reforms" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA CP26/28 consultation", "url": "https://www.fca.org.uk/publication/consultation/cp26-27.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s CP26/28 consultation proposes a more proportionate UK regulatory framework for Alternative Investment Fund Managers, with requirements calibrated more closely to firms\u2019 size and activities. Although the proposals are specific to the alternative investment sector, their focus on risk management, oversight, investor information and clearly defined responsibilities may also interest compliance and governance teams elsewhere in financial services. Firms should be careful not to treat the consultation as creating new cross-sector requirements, but it provides another example of the importance regulators place on effective oversight supported by reliable information and records." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Why is the FCA reforming the AIFM regime?", "text": "The FCA\u2019s consultation brings a substantial package of proposed changes to the UK\u2019s framework for Alternative Investment Fund Managers. The objective is to create a more proportionate, flexible and UK-focused regulatory regime while maintaining appropriate standards for protecting consumers and safeguarding market integrity.\n\nA key theme throughout the consultation is proportionality. The regulator is seeking to align requirements more closely to firms\u2019 size, activities and risk profiles, reducing unnecessary complexity while maintaining effective oversight.\n\nThe FCA currently envisages implementation in 2028 and this consultation provides an early indication of the regulatory principles that are becoming increasingly visible across financial services regulation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "What the proposals suggest about information and oversight", "text": "One of the most significant signals within the consultation is the continued emphasis on the quality of information available to firms and regulators.\n\nAlthough CP26/28 is primarily concerned with reform of the AIFM regime, its detailed proposals underline the continuing importance of reliable information, clearly defined responsibilities and effective oversight. This sits within a broader FCA focus on firms being able to explain how important decisions are made and how relevant risks are managed.\n\nThe proposed reforms cover areas including risk management, liquidity, valuation, delegation, disclosures and annual reporting to investors. Published alongside the FCA\u2019s separate consultation on fund reporting, they also illustrate the regulator\u2019s wider focus on ensuring that regulatory requirements produce useful and proportionate information.\n\nFor firms across financial services, this reinforces an important question:\n\nCan you show how material decisions are made, how relevant risks are assessed and how oversight operates in practice?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Better information, stronger oversight", "text": "The FCA\u2019s proposals seek to improve how information is reported, shared and used. Better quality governance information has the potential to support stronger oversight, more effective challenge and more reliable decision-making.\n\nAs regulators continue to focus on outcomes rather than processes alone, firms are increasingly expected to show how governance forums, risk teams and compliance functions use information to identify emerging issues and take action where appropriate.\n\nThe ability to capture, organise and retrieve evidence of those activities is becoming an increasingly important aspect of regulatory readiness." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Why firms beyond asset management should pay attention", "text": "Firms outside the AIFM regime are not directly affected by these proposals solely because they are FCA regulated. However, compliance and governance teams may find the consultation useful as one example of the FCA seeking to combine proportional requirements with effective oversight and accountability.\n\nThe FCA continues to place importance on effective governance, oversight and firms\u2019 ability to explain and evidence how key decisions are reached and monitored.\n\nFor compliance leaders and governance teams, this places greater importance on:\n\n\u2022 Capturing evidence of decision-making\n\n\u2022 Demonstrating effective challenge and oversight\n\n\u2022 Maintaining clear governance records\n\n\u2022 Linking management information to regulatory, investor or customer outcomes\n\n\u2022 Creating auditable records of monitoring activity\n\nThese are increasingly important capabilities regardless of a firm\u2019s regulatory classification." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "The broader regulatory direction", "text": "The consultation aligns with a wider trend across financial services regulation. Regulators are seeking to reduce unnecessary complexity while maintaining accountability for outcomes and decision-making.\n\nThat means firms may ultimately operate within more proportionate regulatory frameworks, but they should also expect continued scrutiny of how decisions are made, monitored and evidenced.\n\nThe quality of governance records, oversight documentation and management information may become as important as the existence of the underlying process itself." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "What should firms do now?", "text": "While final rules remain some way off, organisations may wish to use the consultation as an opportunity to assess the quality of their governance evidence and oversight records.\n\nAreas to consider include:\n\n\u2022 Reviewing how governance decisions are documented\n\n\u2022 Assessing the quality and accessibility of management information\n\n\u2022 Evaluating whether oversight activities can be evidenced effectively\n\n\u2022 Identifying gaps in governance record-keeping\n\n\u2022 Considering whether customer outcome monitoring can be more easily demonstrated\n\nThe consultation may be focused on AIFMs, but it provides a useful reminder of the importance regulators place on reliable oversight, clear responsibilities and reliable information." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "What we'll be watching", "text": "As the consultation develops, firms may wish to pay particular attention to:\n\n\u2022 How CP26/28 interacts with the FCA\u2019s separate FRAME proposals for fund reporting\n\n\u2022 The role of governance information in regulatory oversight\n\n\u2022 Expectations around evidence-based decision-making\n\n\u2022 Final firm-size thresholds and the proposed categorisation framework\n\n\u2022 Interaction with wider Treasury legislation\n\nThese areas could offer further insight into how regulatory expectations around governance and accountability continue to evolve.\n\nWhat is CP26/28?\n\nCP26/28 is the FCA\u2019s consultation on a proposed new UK regulatory framework for Alternative Investment Fund Managers. The consultation explores how the regime could become more proportionate and flexible while maintaining appropriate protections.\n\nWho is directly affected by FCA\u2019s CP26/28?\n\nThe CP26/28 consultation is primarily relevant to AIFMs and other organisations involved in the alternative investment fund market. However, the themes around governance, reporting and oversight may have wider relevance across financial services.\n\nWhen could the FCA CP26/28 proposals take effect?\n\nThe FCA currently envisages implementation in 2028, subject to the CP26/28 consultation feedback, further rulemaking and associated legislative reforms.\n\nWhy might CP26/28 be relevant to governance and compliance teams?\n\nThe FCA\u2019s CP26/28 consultation reinforces broader regulatory themes around governance, oversight, management information and firms\u2019 ability to evidence decision-making and oversight.\n\nWhat role do records play in demonstrating effective oversight?\n\nAcross a range of regulatory frameworks, firms may be expected to retain sufficient information to explain how material risks were identified, decisions were reached and relevant outcomes were monitored. This is a broader regulatory observation rather than a specific new requirement proposed in CP26/28.\n\nAre your governance records ready for increasing regulatory scrutiny?\n\nAs regulatory expectations continue to evolve, many firms are focusing on the quality, accessibility and consistency of the evidence used to support oversight and decision-making.\n\nConsidering whether monitoring activities and resulting outcomes can be more easily demonstrated, why decisions were taken and how customer outcomes were monitored is becoming an increasingly important component of good governance.\n\nRecordsure helps regulated firms capture and analyse customer interactions and documentation, apply automated compliance checks and create accessible, auditable evidence for review and oversight.\n\nIf your firm is reviewing the quality of its records, monitoring information or compliance evidence, our specialists can help you explore how Recordsure could support more efficient and consistent oversight.\n\nTalk to Recordsure today." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-cp26-28-what-the-proposed-aifm-reforms-mean-for-governance-and-oversight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is CP26/28?", "acceptedAnswer": { "@type": "Answer", "text": "CP26/28 is the FCA\u2019s consultation on a proposed new UK regulatory framework for Alternative Investment Fund Managers." } }, { "@type": "Question", "name": "Who is directly affected by CP26/28?", "acceptedAnswer": { "@type": "Answer", "text": "It is primarily relevant to AIFMs and other organisations involved in the alternative investment fund market." } }, { "@type": "Question", "name": "When could the proposals take effect?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA currently envisages implementation in 2028, subject to consultation feedback, further rulemaking and associated legislative reforms." } }, { "@type": "Question", "name": "Why might the consultation matter beyond asset management?", "acceptedAnswer": { "@type": "Answer", "text": "It reinforces broader regulatory themes around governance, oversight, management information and evidence of decision-making." } }, { "@type": "Question", "name": "What role do records play in oversight?", "acceptedAnswer": { "@type": "Answer", "text": "Records can help firms explain how material risks were identified, decisions were reached and relevant outcomes were monitored." } } ] } ] } ``` ### IBS Intelligence: AI governance and why evidence and accountability matter - URL: https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/ - Published: 2026-08-27 - Modified: 2026-10-09 **Topic:** AI governance As AI becomes more embedded in financial services, firms need evidence of deployment, accountability for decisions and monitoring of customer outcomes. #### Key points - AI is becoming more embedded across retail banking, lending, insurance and investment services. - Research cited by IBS Intelligence found one in five UK adults would be open to AI making financial decisions for them. - Around 26% of consumers said they trust general-purpose AI tools for financial advice despite limited awareness of recourse issues. - Consumer Duty, SMCR and operational resilience remain relevant as AI becomes part of business processes. Artificial intelligence (AI) is becoming increasingly embedded across financial services, from retail banking and lending to insurance and investment services. As adoption grows, firms are facing greater scrutiny over how AI is used, monitored and governed. Recent findings highlighted in a review of the future of retail financial services suggest that AI is moving beyond basic assistance, with consumers becoming more comfortable with the idea of technology making financial decisions on their behalf. The research found that one in five UK adults would be open to AI making financial decisions for them, particularly in areas such as debt advice, pensions and investments. However, the review also identified a gap between trust and risk awareness. Around 26% of consumers said they trust general-purpose AI tools for financial advice, despite limited awareness that formal routes to recourse may not be available if those tools provide incorrect guidance. For regulated firms, this places an even greater emphasis on accountability. Existing frameworks, including the Consumer Duty, Senior Managers and Certification Regime (SMCR), and operational resilience requirements, remain highly relevant as AI becomes more deeply integrated into business processes. Joe Norburn, CEO of TCC Group and Recordsure, commented: “Firms have increasingly needed to demonstrate where AI has been deployed, who remains responsible for decisions and how customer outcomes are being monitored.” With consumers becoming increasingly comfortable engaging with AI, firms may need to consider not only how AI is governed internally, but also whether customers fully understand where decisions are being supported or influenced by automated systems. As firms continue to explore AI’s potential benefits, the ability to evidence how AI-assisted decisions are made, maintain effective oversight and demonstrate accountability will become increasingly important as firms seek to balance innovation with regulatory expectations. #### Supporting sources - [Financial services firms face growing AI governance scrutiny](https://ibsintelligence.com/ibsi-news/financial-services-firms-face-growing-ai-governance-scrutiny/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "IBS Intelligence: AI governance and why evidence and accountability matter", "item": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/", "name": "IBS Intelligence: AI governance and why evidence and accountability matter", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-08-27T14:31:05+01:00", "dateModified": "2026-08-27T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-08-27" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "IBS Intelligence: AI governance and why evidence and accountability matter", "datePublished": "2026-08-27T14:31:05+01:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/fa59c496952b410d935d08196ad97726/thumbnail-1600-afafd64ae9ce49f676f4af6e57b075d0811cb677b758d980bd07ea025ad35d5f.jpg", "description": "AI governance scrutiny is increasing as firms need to evidence deployment, responsibility and customer outcome monitoring across financial services.", "inLanguage": "en-GB", "articleBody": "As AI becomes more embedded in financial services, firms need evidence of deployment, accountability for decisions and monitoring of customer outcomes.\n\nArtificial intelligence (AI) is becoming increasingly embedded across financial services, from retail banking and lending to insurance and investment services. As adoption grows, firms are facing greater scrutiny over how AI is used, monitored and governed.\n\nRecent findings highlighted in a review of the future of retail financial services suggest that AI is moving beyond basic assistance, with consumers becoming more comfortable with the idea of technology making financial decisions on their behalf. The research found that one in five UK adults would be open to AI making financial decisions for them, particularly in areas such as debt advice, pensions and investments.\n\nHowever, the review also identified a gap between trust and risk awareness. Around 26% of consumers said they trust general-purpose AI tools for financial advice, despite limited awareness that formal routes to recourse may not be available if those tools provide incorrect guidance.\n\nFor regulated firms, this places an even greater emphasis on accountability. Existing frameworks, including the Consumer Duty, Senior Managers and Certification Regime (SMCR), and operational resilience requirements, remain highly relevant as AI becomes more deeply integrated into business processes.\n\nJoe Norburn, CEO of TCC Group and Recordsure, commented:\n\n\u201cFirms have increasingly needed to demonstrate where AI has been deployed, who remains responsible for decisions and how customer outcomes are being monitored.\u201d\n\nWith consumers becoming increasingly comfortable engaging with AI, firms may need to consider not only how AI is governed internally, but also whether customers fully understand where decisions are being supported or influenced by automated systems.\n\nAs firms continue to explore AI\u2019s potential benefits, the ability to evidence how AI-assisted decisions are made, maintain effective oversight and demonstrate accountability will become increasingly important as firms seek to balance innovation with regulatory expectations.", "wordCount": 309, "keywords": [ "Banking", "Pensions", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Pensions", "url": "https://recordsure.com/sector/pensions/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI governance" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Pensions" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "Financial services firms face growing AI governance scrutiny", "url": "https://ibsintelligence.com/ibsi-news/financial-services-firms-face-growing-ai-governance-scrutiny/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#webpage" }, "inLanguage": "en-GB", "text": "Artificial intelligence (AI) is becoming increasingly embedded across financial services, from retail banking and lending to insurance and investment services. As adoption grows, firms are facing greater scrutiny over how AI is used, monitored and governed.\n\nRecent findings highlighted in a review of the future of retail financial services suggest that AI is moving beyond basic assistance, with consumers becoming more comfortable with the idea of technology making financial decisions on their behalf. The research found that one in five UK adults would be open to AI making financial decisions for them, particularly in areas such as debt advice, pensions and investments.\n\nHowever, the review also identified a gap between trust and risk awareness. Around 26% of consumers said they trust general-purpose AI tools for financial advice, despite limited awareness that formal routes to recourse may not be available if those tools provide incorrect guidance.\n\nFor regulated firms, this places an even greater emphasis on accountability. Existing frameworks, including the Consumer Duty, Senior Managers and Certification Regime (SMCR), and operational resilience requirements, remain highly relevant as AI becomes more deeply integrated into business processes.\n\nJoe Norburn, CEO of TCC Group and Recordsure, commented:\n\n\u201cFirms have increasingly needed to demonstrate where AI has been deployed, who remains responsible for decisions and how customer outcomes are being monitored.\u201d\n\nWith consumers becoming increasingly comfortable engaging with AI, firms may need to consider not only how AI is governed internally, but also whether customers fully understand where decisions are being supported or influenced by automated systems.\n\nAs firms continue to explore AI\u2019s potential benefits, the ability to evidence how AI-assisted decisions are made, maintain effective oversight and demonstrate accountability will become increasingly important as firms seek to balance innovation with regulatory expectations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ibs-intelligence-ai-governance-and-why-evidence-and-accountability-matter/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does AI governance matter for financial services?", "acceptedAnswer": { "@type": "Answer", "text": "AI governance matters because firms need evidence and accountability as AI becomes more embedded in financial services." } }, { "@type": "Question", "name": "What consumer finding is highlighted?", "acceptedAnswer": { "@type": "Answer", "text": "One in five UK adults would be open to AI making financial decisions for them." } }, { "@type": "Question", "name": "Which regulatory frameworks remain relevant?", "acceptedAnswer": { "@type": "Answer", "text": "Consumer Duty, SMCR and operational resilience requirements remain relevant as AI becomes more integrated into business processes." } }, { "@type": "Question", "name": "What should firms be able to evidence?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should evidence where AI is deployed, who remains responsible for decisions and how customer outcomes are monitored." } } ] } ] } ``` ### Why outcomes monitoring needs more than management information - URL: https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/ - Published: 2026-08-14 - Modified: 2026-10-09 **Topic:** Outcomes monitoring The FCA’s review highlights that collecting management information is not enough unless firms can show what it reveals, what action followed and whether customer outcomes improved. #### Key points - Outcome definitions need to connect to specific customer journey stages and measurable indicators. - Customer conversations can reveal vulnerability, confusion and friction before complaints or MI expose them. - Boards need evidence that monitoring leads to meaningful action and improved outcomes. In July 2026, the [FCA published its review of firms’ approaches to outcomes monitoring under the Consumer Duty](https://www.fca.org.uk/publications/good-and-poor-practice/outcomes-monitoring-good-practice-and-areas-improvement). Alongside examples of good practice, the regulator identified firms that were collecting management information (MI) without being able to demonstrate what that information revealed about customer outcomes, what action had been taken or whether outcomes had improved as a result. The FCA’s review raises a practical issue for firms attempting to evidence good customer outcomes. While many organisations have invested heavily in MI and reporting frameworks, visibility of what customers are actually experiencing can still be limited. Where monitoring relies on small samples of customer interactions, signs of vulnerability, confusion or customer friction may never enter the reporting process. #### Defining outcomes: What does good look like in practice? The findings shared best practice examples where firms could demonstrate clearly how they’re defining what good customer outcomes looked like. Rather than relying on broad statements about fairness or customer satisfaction, they linked outcome expectations to specific stages of the customer journey and used monitoring to assess whether those outcomes were being delivered in practice. That raises an important question for many firms: how do you know whether customers are consistently receiving good outcomes if only a small percentage of interactions are reviewed? That’s why defining outcomes is an important first step – but firms also need sufficient visibility to assess whether those outcomes are being delivered consistently across products, channels and customer groups. The FCA highlighted positive examples of firms that translated customer outcome expectations into measurable indicators, enabling them to identify where outcomes were deteriorating and where intervention was required. Defining outcomes, however, is only part of the picture. Firms also need a reliable way of identifying when those outcomes are not being achieved, often long before a complaint is raised or an issue appears in management reporting. #### Customer interactions reveal what MI can miss This is where customer journey monitoring becomes particularly valuable. The regulator places significant emphasis on understanding outcomes at different stages of the customer journey rather than relying solely on high-level indicators. For example, a complaint, vulnerability disclosure or indication of customer confusion may not appear in management information until much later in the process. By that point, the outcome has already occurred. Therefore, by analysing customer conversations alongside existing MI, firms can gain greater visibility into how products and services are experienced in practice. This provides a richer understanding of customer outcomes than operational metrics alone. The Consumer Duty’s core aim is to examine the customer experience. Those experiences are often most visible in the interactions that happen every day across contact centres, advice journeys, service teams and digital channels. The question then becomes whether firms are capturing enough of that information to understand what is really driving customer outcomes. #### Are you measuring activity or outcomes? The FCA’s findings also challenge firms to consider whether their existing MI is genuinely outcome-focused. Many businesses already track complaints, response times, case volumes and service levels. While these measures remain important, they do not necessarily explain whether customers are receiving good outcomes. A board report may show that service standards are being met. It may not reveal whether customers understand key communications, whether vulnerable customers require additional support or whether avoidable barriers exist within the customer journey. This is where interaction data can add another layer of insight. When firms analyse customer conversations alongside traditional MI, they can understand the drivers behind outcomes rather than simply measuring outputs. The FCA’s review suggests that firms which combine different sources of information are often better placed to identify emerging risks and evidence how outcomes are being monitored. #### Vulnerability insights need more than a tick box Vulnerability is one area where this becomes particularly evident. The FCA highlighted examples where firms struggled to show how outcomes differed across customer groups, including customers identified as vulnerable. Most firms already capture information relating to vulnerability but the challenge is demonstrating how that information is being used to identify different outcomes, assess potential harm and improve support. A broader view of customer interactions can help firms identify patterns that traditional quality assurance or complaint monitoring alone might miss. Firms increasingly need evidence that vulnerable customers receive appropriate support and achieve outcomes comparable to the wider customer population. That requires more than simply recording vulnerability characteristics. Firms also need to add ongoing monitoring of customer experiences and outcomes to the mix. #### Better visibility leads to better decisions Across the FCA’s examples of good practice, a consistent feature was the ability to link monitoring activity to meaningful action. Firms should not be simply collecting information – be able to demonstrate what they had identified, what they had done about it, and whether outcomes improved as a result. The firms highlighted positively by the regulator were able to show how issues were identified, challenged and addressed – and how interventions led to improved outcomes. Achieving this requires timely and meaningful insight. The more complete the picture of customer outcomes, the easier it becomes to identify risks, evaluate trends and understand whether interventions are delivering the intended results. Expanding MI alone is unlikely to solve the problem. Firms need confidence that they can identify emerging risks, understand customer experiences, and demonstrate how those insights influence decision-making. Greater visibility of customer interactions can help close that gap, providing a stronger evidence base for outcomes monitoring and Consumer Duty oversight. Recordsure helps firms transform customer interactions into actionable insight. By capturing, analysing and monitoring customer conversations at scale, Recordsure’s AI provides greater visibility of customer outcomes, vulnerability indicators, customer understanding and conduct risks. This enables firms to strengthen Consumer Duty oversight and build stronger evidence of good customer outcomes. #### Supporting sources - [FCA review of outcomes monitoring under the Consumer Duty](https://www.fca.org.uk/publications/good-and-poor-practice/outcomes-monitoring-good-practice-and-areas-improvement) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why outcomes monitoring needs more than management information", "item": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/", "name": "Why outcomes monitoring needs more than management information", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-08-14T15:28:50+01:00", "dateModified": "2026-08-14T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-08-14" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why outcomes monitoring needs more than management information", "datePublished": "2026-08-14T15:28:50+01:00", "dateModified": "2026-10-09T04:50:24+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/95f06f3fd2e1456982541173cf388dc6/thumbnail-1024-fab33d7b680a50b68b7f07eefcb9d353a9f0227314bccc5de581df6de5951d17.jpg", "description": "The FCA\u2019s Consumer Duty review shows why firms need interaction-level evidence, not MI alone, to identify risks, act on findings and demonstrate better customer outcomes.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s review highlights that collecting management information is not enough unless firms can show what it reveals, what action followed and whether customer outcomes improved.\n\nIn July 2026, the FCA published its review of firms\u2019 approaches to outcomes monitoring under the Consumer Duty. Alongside examples of good practice, the regulator identified firms that were collecting management information (MI) without being able to demonstrate what that information revealed about customer outcomes, what action had been taken or whether outcomes had improved as a result.\n\nThe FCA\u2019s review raises a practical issue for firms attempting to evidence good customer outcomes. While many organisations have invested heavily in MI and reporting frameworks, visibility of what customers are actually experiencing can still be limited. Where monitoring relies on small samples of customer interactions, signs of vulnerability, confusion or customer friction may never enter the reporting process.\n\nDefining outcomes: What does good look like in practice?\n\nThe findings shared best practice examples where firms could demonstrate clearly how they\u2019re defining what good customer outcomes looked like. Rather than relying on broad statements about fairness or customer satisfaction, they linked outcome expectations to specific stages of the customer journey and used monitoring to assess whether those outcomes were being delivered in practice.\n\nThat raises an important question for many firms: how do you know whether customers are consistently receiving good outcomes if only a small percentage of interactions are reviewed?\n\nThat\u2019s why defining outcomes is an important first step \u2013 but firms also need sufficient visibility to assess whether those outcomes are being delivered consistently across products, channels and customer groups. The FCA highlighted positive examples of firms that translated customer outcome expectations into measurable indicators, enabling them to identify where outcomes were deteriorating and where intervention was required.\n\nDefining outcomes, however, is only part of the picture. Firms also need a reliable way of identifying when those outcomes are not being achieved, often long before a complaint is raised or an issue appears in management reporting.\n\nCustomer interactions reveal what MI can miss\n\nThis is where customer journey monitoring becomes particularly valuable. The regulator places significant emphasis on understanding outcomes at different stages of the customer journey rather than relying solely on high-level indicators.\n\nFor example, a complaint, vulnerability disclosure or indication of customer confusion may not appear in management information until much later in the process. By that point, the outcome has already occurred. Therefore, by analysing customer conversations alongside existing MI, firms can gain greater visibility into how products and services are experienced in practice. This provides a richer understanding of customer outcomes than operational metrics alone.\n\nThe Consumer Duty\u2019s core aim is to examine the customer experience. Those experiences are often most visible in the interactions that happen every day across contact centres, advice journeys, service teams and digital channels. The question then becomes whether firms are capturing enough of that information to understand what is really driving customer outcomes.\n\nAre you measuring activity or outcomes?\n\nThe FCA\u2019s findings also challenge firms to consider whether their existing MI is genuinely outcome-focused. Many businesses already track complaints, response times, case volumes and service levels. While these measures remain important, they do not necessarily explain whether customers are receiving good outcomes.\n\nA board report may show that service standards are being met. It may not reveal whether customers understand key communications, whether vulnerable customers require additional support or whether avoidable barriers exist within the customer journey.\n\nThis is where interaction data can add another layer of insight. When firms analyse customer conversations alongside traditional MI, they can understand the drivers behind outcomes rather than simply measuring outputs. The FCA\u2019s review suggests that firms which combine different sources of information are often better placed to identify emerging risks and evidence how outcomes are being monitored.\n\nVulnerability insights need more than a tick box\n\nVulnerability is one area where this becomes particularly evident. The FCA highlighted examples where firms struggled to show how outcomes differed across customer groups, including customers identified as vulnerable.\n\nMost firms already capture information relating to vulnerability but the challenge is demonstrating how that information is being used to identify different outcomes, assess potential harm and improve support.\n\nA broader view of customer interactions can help firms identify patterns that traditional quality assurance or complaint monitoring alone might miss. Firms increasingly need evidence that vulnerable customers receive appropriate support and achieve outcomes comparable to the wider customer population. That requires more than simply recording vulnerability characteristics. Firms also need to add ongoing monitoring of customer experiences and outcomes to the mix.\n\nBetter visibility leads to better decisions\n\nAcross the FCA\u2019s examples of good practice, a consistent feature was the ability to link monitoring activity to meaningful action. Firms should not be simply collecting information \u2013 be able to demonstrate what they had identified, what they had done about it, and whether outcomes improved as a result.\n\nThe firms highlighted positively by the regulator were able to show how issues were identified, challenged and addressed \u2013 and how interventions led to improved outcomes. Achieving this requires timely and meaningful insight. The more complete the picture of customer outcomes, the easier it becomes to identify risks, evaluate trends and understand whether interventions are delivering the intended results.\n\nExpanding MI alone is unlikely to solve the problem. Firms need confidence that they can identify emerging risks, understand customer experiences, and demonstrate how those insights influence decision-making.\n\nGreater visibility of customer interactions can help close that gap, providing a stronger evidence base for outcomes monitoring and Consumer Duty oversight.\n\nRecordsure helps firms transform customer interactions into actionable insight. By capturing, analysing and monitoring customer conversations at scale, Recordsure\u2019s AI provides greater visibility of customer outcomes, vulnerability indicators, customer understanding and conduct risks. This enables firms to strengthen Consumer Duty oversight and build stronger evidence of good customer outcomes.", "wordCount": 973, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Outcomes monitoring" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA review of outcomes monitoring under the Consumer Duty", "url": "https://www.fca.org.uk/publications/good-and-poor-practice/outcomes-monitoring-good-practice-and-areas-improvement" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "text": "In July 2026, the FCA published its review of firms\u2019 approaches to outcomes monitoring under the Consumer Duty. Alongside examples of good practice, the regulator identified firms that were collecting management information (MI) without being able to demonstrate what that information revealed about customer outcomes, what action had been taken or whether outcomes had improved as a result.\n\nThe FCA\u2019s review raises a practical issue for firms attempting to evidence good customer outcomes. While many organisations have invested heavily in MI and reporting frameworks, visibility of what customers are actually experiencing can still be limited. Where monitoring relies on small samples of customer interactions, signs of vulnerability, confusion or customer friction may never enter the reporting process." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "headline": "Defining outcomes: What does good look like in practice?", "text": "The findings shared best practice examples where firms could demonstrate clearly how they\u2019re defining what good customer outcomes looked like. Rather than relying on broad statements about fairness or customer satisfaction, they linked outcome expectations to specific stages of the customer journey and used monitoring to assess whether those outcomes were being delivered in practice.\n\nThat raises an important question for many firms: how do you know whether customers are consistently receiving good outcomes if only a small percentage of interactions are reviewed?\n\nThat\u2019s why defining outcomes is an important first step \u2013 but firms also need sufficient visibility to assess whether those outcomes are being delivered consistently across products, channels and customer groups. The FCA highlighted positive examples of firms that translated customer outcome expectations into measurable indicators, enabling them to identify where outcomes were deteriorating and where intervention was required.\n\nDefining outcomes, however, is only part of the picture. Firms also need a reliable way of identifying when those outcomes are not being achieved, often long before a complaint is raised or an issue appears in management reporting." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "headline": "Customer interactions reveal what MI can miss", "text": "This is where customer journey monitoring becomes particularly valuable. The regulator places significant emphasis on understanding outcomes at different stages of the customer journey rather than relying solely on high-level indicators.\n\nFor example, a complaint, vulnerability disclosure or indication of customer confusion may not appear in management information until much later in the process. By that point, the outcome has already occurred. Therefore, by analysing customer conversations alongside existing MI, firms can gain greater visibility into how products and services are experienced in practice. This provides a richer understanding of customer outcomes than operational metrics alone.\n\nThe Consumer Duty\u2019s core aim is to examine the customer experience. Those experiences are often most visible in the interactions that happen every day across contact centres, advice journeys, service teams and digital channels. The question then becomes whether firms are capturing enough of that information to understand what is really driving customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "headline": "Are you measuring activity or outcomes?", "text": "The FCA\u2019s findings also challenge firms to consider whether their existing MI is genuinely outcome-focused. Many businesses already track complaints, response times, case volumes and service levels. While these measures remain important, they do not necessarily explain whether customers are receiving good outcomes.\n\nA board report may show that service standards are being met. It may not reveal whether customers understand key communications, whether vulnerable customers require additional support or whether avoidable barriers exist within the customer journey.\n\nThis is where interaction data can add another layer of insight. When firms analyse customer conversations alongside traditional MI, they can understand the drivers behind outcomes rather than simply measuring outputs. The FCA\u2019s review suggests that firms which combine different sources of information are often better placed to identify emerging risks and evidence how outcomes are being monitored." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "headline": "Vulnerability insights need more than a tick box", "text": "Vulnerability is one area where this becomes particularly evident. The FCA highlighted examples where firms struggled to show how outcomes differed across customer groups, including customers identified as vulnerable.\n\nMost firms already capture information relating to vulnerability but the challenge is demonstrating how that information is being used to identify different outcomes, assess potential harm and improve support.\n\nA broader view of customer interactions can help firms identify patterns that traditional quality assurance or complaint monitoring alone might miss. Firms increasingly need evidence that vulnerable customers receive appropriate support and achieve outcomes comparable to the wider customer population. That requires more than simply recording vulnerability characteristics. Firms also need to add ongoing monitoring of customer experiences and outcomes to the mix." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "headline": "Better visibility leads to better decisions", "text": "Across the FCA\u2019s examples of good practice, a consistent feature was the ability to link monitoring activity to meaningful action. Firms should not be simply collecting information \u2013 be able to demonstrate what they had identified, what they had done about it, and whether outcomes improved as a result.\n\nThe firms highlighted positively by the regulator were able to show how issues were identified, challenged and addressed \u2013 and how interventions led to improved outcomes. Achieving this requires timely and meaningful insight. The more complete the picture of customer outcomes, the easier it becomes to identify risks, evaluate trends and understand whether interventions are delivering the intended results.\n\nExpanding MI alone is unlikely to solve the problem. Firms need confidence that they can identify emerging risks, understand customer experiences, and demonstrate how those insights influence decision-making.\n\nGreater visibility of customer interactions can help close that gap, providing a stronger evidence base for outcomes monitoring and Consumer Duty oversight.\n\nRecordsure helps firms transform customer interactions into actionable insight. By capturing, analysing and monitoring customer conversations at scale, Recordsure\u2019s AI provides greater visibility of customer outcomes, vulnerability indicators, customer understanding and conduct risks. This enables firms to strengthen Consumer Duty oversight and build stronger evidence of good customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-outcomes-monitoring-needs-more-than-management-information/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA expect from outcomes monitoring under the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects firms to show how monitoring identifies customer risks, what actions have been taken and whether those actions have improved customer outcomes." } }, { "@type": "Question", "name": "Why are customer interactions important for outcomes monitoring?", "acceptedAnswer": { "@type": "Answer", "text": "Customer interactions can show customer understanding, support needs, vulnerability indicators and potential harm that may not be visible through traditional management information alone." } }, { "@type": "Question", "name": "Can MI alone demonstrate good customer outcomes?", "acceptedAnswer": { "@type": "Answer", "text": "Not necessarily. Firms need to understand what their MI is telling them, how it identifies risks and whether actions taken have improved outcomes." } }, { "@type": "Question", "name": "Why is customer journey monitoring important?", "acceptedAnswer": { "@type": "Answer", "text": "Monitoring outcomes across different journey stages helps firms identify friction, confusion or potential harm before they become larger issues." } }, { "@type": "Question", "name": "How can firms gain greater visibility of customer outcomes?", "acceptedAnswer": { "@type": "Answer", "text": "Many firms combine traditional MI with interaction monitoring, quality assurance and customer journey analysis to build a more complete picture of outcomes." } } ] } ] } ``` ### European Business Magazine: Mills Review highlights the growing need for AI oversight and evidencing in financial services - URL: https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/ - Published: 2026-08-13 - Modified: 2026-10-09 **Topic:** AI oversight TCC Group and Recordsure CEO Joe Norburn discusses the FCA’s Mills Review in European Business Magazine, focusing on AI governance, unchanged regulatory duties, transparency and evidence of customer outcomes. #### Key points - The Mills Review examines how AI could transform retail financial services by 2030. - Existing FCA requirements continue to apply whether AI is built internally or provided by third parties. - Firms need visibility of where AI influences customer interactions and business decisions. - Monitoring, audit trails and records will be important evidence for governance and customer outcomes. In [European Business Magazine](https://europeanbusinessmagazine.com/mills-review-attention-financial-services), TCC Group and Recordsure CEO Joe Norburn explores why the FCA’s Mills Review should be an important marker for firms adopting artificial intelligence (AI) and how organisations can maintain accountability, oversight and evidence as AI becomes more deeply embedded across financial services. Published by the FCA in July 2026, the Mills Review examines how AI could transform retail financial services by 2030, while highlighting the governance, regulatory and consumer protection considerations firms would need to address as adoption accelerates. A key message from the Review is that existing regulatory requirements remain unchanged. FCA’s Consumer Duty, the Senior Managers Regime (SMR) and operational resilience obligations continue to apply, regardless of whether AI solutions are developed internally or delivered through third-party providers. As firms increasingly rely on AI-driven decision-making, regulators will expect greater transparency, reliable oversight and clear accountability frameworks. The Review also emphasises the importance of understanding where AI is being used across the organisation, including informal use of general-purpose AI tools. Firms need visibility of where AI influences customer interactions and business decisions, who is accountable for outcomes, and how performance is monitored over time. As Joe Norburn notes: “Boards now need a practical account of where AI affects decisions, who carries responsibility and how the firm knows customers are being treated fairly.” For firms navigating AI adoption, evidencing governance and customer outcomes will become increasingly important. Organisations will need reliable monitoring capabilities, clear audit trails and reliable records that demonstrate how decisions are made and how customer interests continue to be protected. As AI rises up both regulatory and government agendas, the Mills Review provides an early indication of where supervisory expectations may develop next, reinforcing the importance of effective oversight, ongoing monitoring and demonstrable compliance. [Read the article](https://europeanbusinessmagazine.com/mills-review-attention-financial-services) #### Supporting sources - [European Business Magazine article on the Mills Review](https://europeanbusinessmagazine.com/mills-review-attention-financial-services) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": 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"2026-08-13T13:55:22+01:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6747ed161b4d48ff8ac731cc4759dddb/thumbnail-1024-01a8b9344455055313d92bd34e7b2b0b2d2810e44cac1357fc30d493b9a0a229.jpg", "description": "Joe Norburn explains why the FCA\u2019s Mills Review matters for firms adopting AI and needing clearer accountability, oversight and evidence.", "inLanguage": "en-GB", "articleBody": "TCC Group and Recordsure CEO Joe Norburn discusses the FCA\u2019s Mills Review in European Business Magazine, focusing on AI governance, unchanged regulatory duties, transparency and evidence of customer outcomes.\n\nIn European Business Magazine, TCC Group and Recordsure CEO Joe Norburn explores why the FCA\u2019s Mills Review should be an important marker for firms adopting artificial intelligence (AI) and how organisations can maintain accountability, oversight and evidence as AI becomes more deeply embedded across financial services.\n\nPublished by the FCA in July 2026, the Mills Review examines how AI could transform retail financial services by 2030, while highlighting the governance, regulatory and consumer protection considerations firms would need to address as adoption accelerates.\n\nA key message from the Review is that existing regulatory requirements remain unchanged. FCA\u2019s Consumer Duty, the Senior Managers Regime (SMR) and operational resilience obligations continue to apply, regardless of whether AI solutions are developed internally or delivered through third-party providers. As firms increasingly rely on AI-driven decision-making, regulators will expect greater transparency, reliable oversight and clear accountability frameworks.\n\nThe Review also emphasises the importance of understanding where AI is being used across the organisation, including informal use of general-purpose AI tools. Firms need visibility of where AI influences customer interactions and business decisions, who is accountable for outcomes, and how performance is monitored over time.\n\nAs Joe Norburn notes:\n\n\u201cBoards now need a practical account of where AI affects decisions, who carries responsibility and how the firm knows customers are being treated fairly.\u201d\n\nFor firms navigating AI adoption, evidencing governance and customer outcomes will become increasingly important. Organisations will need reliable monitoring capabilities, clear audit trails and reliable records that demonstrate how decisions are made and how customer interests continue to be protected.\n\nAs AI rises up both regulatory and government agendas, the Mills Review provides an early indication of where supervisory expectations may develop next, reinforcing the importance of effective oversight, ongoing monitoring and demonstrable compliance.\n\nRead the article", "wordCount": 323, "keywords": [ "Government" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "AI oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "European Business Magazine article on the Mills Review", "url": "https://europeanbusinessmagazine.com/mills-review-attention-financial-services" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "In European Business Magazine, TCC Group and Recordsure CEO Joe Norburn explores why the FCA\u2019s Mills Review should be an important marker for firms adopting artificial intelligence (AI) and how organisations can maintain accountability, oversight and evidence as AI becomes more deeply embedded across financial services.\n\nPublished by the FCA in July 2026, the Mills Review examines how AI could transform retail financial services by 2030, while highlighting the governance, regulatory and consumer protection considerations firms would need to address as adoption accelerates.\n\nA key message from the Review is that existing regulatory requirements remain unchanged. FCA\u2019s Consumer Duty, the Senior Managers Regime (SMR) and operational resilience obligations continue to apply, regardless of whether AI solutions are developed internally or delivered through third-party providers. As firms increasingly rely on AI-driven decision-making, regulators will expect greater transparency, reliable oversight and clear accountability frameworks.\n\nThe Review also emphasises the importance of understanding where AI is being used across the organisation, including informal use of general-purpose AI tools. Firms need visibility of where AI influences customer interactions and business decisions, who is accountable for outcomes, and how performance is monitored over time.\n\nAs Joe Norburn notes:\n\n\u201cBoards now need a practical account of where AI affects decisions, who carries responsibility and how the firm knows customers are being treated fairly.\u201d\n\nFor firms navigating AI adoption, evidencing governance and customer outcomes will become increasingly important. Organisations will need reliable monitoring capabilities, clear audit trails and reliable records that demonstrate how decisions are made and how customer interests continue to be protected.\n\nAs AI rises up both regulatory and government agendas, the Mills Review provides an early indication of where supervisory expectations may develop next, reinforcing the importance of effective oversight, ongoing monitoring and demonstrable compliance.\n\nRead the article" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/european-business-magazine-mills-review-highlights-the-growing-need-for-ai-oversight-and-evidencing-in-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the Mills Review examine?", "acceptedAnswer": { "@type": "Answer", "text": "It examines how AI could transform retail financial services by 2030 and the governance, regulatory and consumer protection issues firms may need to address." } }, { "@type": "Question", "name": "Do existing FCA requirements change because AI is used?", "acceptedAnswer": { "@type": "Answer", "text": "No. Consumer Duty, SMR and operational resilience obligations continue to apply." } }, { "@type": "Question", "name": "What evidence do firms need around AI?", "acceptedAnswer": { "@type": "Answer", "text": "They need monitoring, audit trails and records showing how decisions are made and how customer interests are protected." } } ] } ] } ``` ### Consumer Duty board reports: from governance to customer outcomes - URL: https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/ - Published: 2026-07-22 - Modified: 2026-10-09 **Topic:** Consumer Duty reports Consumer Duty board reporting should evidence what customers experience, not only confirm that governance processes exist. Customer interactions can help boards test assumptions, identify risks and challenge management information. #### Key points - Board reports should focus on customer outcomes rather than repeat last year’s governance process. - Traditional MI is useful but may not explain what customers actually experienced. - Customer interactions can evidence understanding, support needs, vulnerability indicators and emerging harm. - Technology can help analyse interaction volumes, but judgement and accountability remain essential. - Better evidence enables better board challenge and clearer decisions. As firms prepare their third annual Consumer Duty board reports, there is a risk that the process starts to feel routine. Governance frameworks are established, reporting cycles are embedded, and boards have been through this exercise before. Yet this is where the real challenge begins. The early years of Consumer Duty were largely focused on implementation. Firms built governance structures, reviewed products and services, assessed customer journeys and invested in new management information (MI). Many now have more mature reporting packs, clearer accountability and stronger board oversight. The question is no longer whether a Consumer Duty framework exists, but whether firms can demonstrate that customers are receiving good outcomes in practice. #### Key takeaways - Consumer Duty board reports should focus on customer outcomes, not just governance processes. - Boards need evidence that helps them understand what customers are actually experiencing. - Consumer understanding and consumer support remain among the hardest outcomes to assess. - Customer interactions can provide valuable insight into emerging risks and areas of potential customer harm. - Stronger evidence supports more effective board challenge and decision-making. #### From governance evidence to customer evidence The FCA’s recent reflections on Consumer Duty board reporting suggest the focus is increasingly shifting beyond whether governance arrangements are in place and towards how firms assess customer outcomes and respond when risks emerge. Boards are expected to understand what monitoring is revealing, where issues may be developing and how insights are driving action. For many firms, that means moving from governance evidence to customer evidence. Traditional MI remains important. Complaint volumes, cancellation rates, quality assurance scores, customer satisfaction measures and vulnerability metrics can all provide valuable indicators of performance. However, these measures do not always explain what customers have actually experienced. A low level of complaints does not necessarily mean customers understood a product. A completed process does not automatically demonstrate that communications were effective. A customer interaction may have followed the correct procedure without necessarily delivering the support a customer needed. Consumer Duty requires firms to understand not only what happened, but whether good customer outcomes were achieved as a result. #### Avoiding routine Consumer Duty reporting The annual board report should not become an exercise in repeating last year’s process. The [FCA’s review of second-year board reports](https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next) highlighted areas where firms can continue to strengthen their approach, including linking data more clearly to customer outcomes, demonstrating meaningful board challenge, improving oversight of third parties, and strengthening their assessment of consumer understanding and support. These observations reflect a broader regulatory theme. Having governance structures in place is important, but firms must also be able to demonstrate that those structures are delivering tangible value for customers. Boards should therefore be asking more challenging questions: - What is our MI really telling us? - Where are customers encountering difficulty? - How do we know customers understand key information? - What customer evidence supports our conclusions? - Are there emerging risks that are not yet visible through complaints or traditional metrics? The most valuable discussions are often not about the metrics firms already have, but about the questions those metrics raise. #### Why customer interactions matter One of the most difficult aspects of the Consumer Duty is assessing outcomes such as consumer understanding and consumer support. These outcomes cannot always be measured through a dashboard or a single performance metric. They depend on how customers receive, interpret and act on information throughout their journey. This is why customer interactions are becoming an increasingly important source of evidence. Every day, firms generate significant amounts of data through telephone calls, video meetings, emails, webchat conversations and other customer communications. Within those interactions sits valuable information about whether customers appear to understand key information, whether support is meeting their needs and whether indicators of vulnerability are being recognised appropriately. Customer interactions can also highlight early signs of potential problems before they emerge through complaint trends, remediation activity or other traditional indicators. For boards seeking a more complete view of customer outcomes, this evidence can provide valuable context alongside existing management information. #### How interaction intelligence can support board oversight Technology is increasingly helping firms analyse larger volumes of customer interactions and identify patterns that might otherwise be missed through traditional monitoring approaches alone. Used appropriately, interaction analytics can help firms: - identify potential indicators of customer misunderstanding - highlight recurring themes and emerging risks - strengthen oversight of customer support activities - provide additional evidence when assessing customer outcomes - support more informed board discussions and decision-making Interaction analytics should be considered alongside other sources of evidence rather than in isolation. Boards should continue to draw on a range of quantitative and qualitative evidence, including management information, complaints data, quality assurance reviews and customer feedback. The objective is not to automate judgement. It is to provide a richer understanding of the customer experience. At Recordsure, we are seeing increasing interest in interaction analytics as firms look to strengthen their Consumer Duty evidence frameworks and gain deeper insight into customer outcomes. #### Better evidence leads to better challenge One of the FCA’s consistent messages is the importance of meaningful challenge from governing bodies. Boards need to demonstrate how they have tested information, challenged assumptions and required action where appropriate. That challenge is only as effective as the evidence available. When boards have access to richer customer outcome insights, they are often better placed to ask the questions that matter most: - What is driving this trend? - How confident are we in our conclusions? - What customer evidence supports this position? - Are we identifying risks early enough? - Are our interventions improving outcomes? These conversations help move firms beyond reporting activity and towards genuine outcome oversight. #### Consumer Duty is now an ongoing discipline The next phase of Consumer Duty is less about building frameworks and more about demonstrating that those frameworks continue to deliver good customer outcomes. Recent FCA observations suggest increasing focus on how board reports support decision-making, oversight and the delivery of customer outcomes. That requires firms to build a more complete picture of the customer experience, challenge assumptions, identify emerging risks and act when outcomes fall short. For many firms, customer interactions can provide valuable evidence of customer experiences and outcomes. The challenge is turning that evidence into meaningful insight. By combining governance, oversight and customer interaction intelligence, firms can strengthen their understanding of customer outcomes, support better decision-making and build greater confidence that their Consumer Duty framework is delivering what it is designed to achieve: consistently good outcomes for customers. #### How can boards improve the quality of Consumer Duty reporting? Boards can improve reporting by focusing on customer outcomes rather than reporting activity, challenging assumptions, seeking evidence from multiple sources, and ensuring that management information is translated into meaningful decisions and actions. #### Supporting sources - [FCA: year 2 Consumer Duty board reports, progress and what comes next](https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Consumer Duty board reports: from governance to customer outcomes", "item": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/", "name": "Consumer Duty board reports: from governance to customer outcomes", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-07-22T08:18:55+01:00", "dateModified": "2026-07-22T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-07-22" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Consumer Duty board reports: from governance to customer outcomes", "datePublished": "2026-07-22T08:18:55+01:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/71a339b2216042209316e6398808d59d/thumbnail-1600-7bf3c435869979d68b1d3718887cdaa74096f3e4580d84bac1e6661bef61b96f.jpg", "description": "As firms prepare another annual Consumer Duty board report, the focus should move from governance evidence to customer evidence that supports board challenge and outcome oversight.", "inLanguage": "en-GB", "articleBody": "Consumer Duty board reporting should evidence what customers experience, not only confirm that governance processes exist. Customer interactions can help boards test assumptions, identify risks and challenge management information.\n\nAs firms prepare their third annual Consumer Duty board reports, there is a risk that the process starts to feel routine. Governance frameworks are established, reporting cycles are embedded, and boards have been through this exercise before.\n\nYet this is where the real challenge begins.\n\nThe early years of Consumer Duty were largely focused on implementation. Firms built governance structures, reviewed products and services, assessed customer journeys and invested in new management information (MI). Many now have more mature reporting packs, clearer accountability and stronger board oversight.\n\nThe question is no longer whether a Consumer Duty framework exists, but whether firms can demonstrate that customers are receiving good outcomes in practice.\n\nKey takeaways\n\n\u2022 Consumer Duty board reports should focus on customer outcomes, not just governance processes.\n\n\u2022 Boards need evidence that helps them understand what customers are actually experiencing.\n\n\u2022 Consumer understanding and consumer support remain among the hardest outcomes to assess.\n\n\u2022 Customer interactions can provide valuable insight into emerging risks and areas of potential customer harm.\n\n\u2022 Stronger evidence supports more effective board challenge and decision-making.\n\nFrom governance evidence to customer evidence\n\nThe FCA\u2019s recent reflections on Consumer Duty board reporting suggest the focus is increasingly shifting beyond whether governance arrangements are in place and towards how firms assess customer outcomes and respond when risks emerge.\n\nBoards are expected to understand what monitoring is revealing, where issues may be developing and how insights are driving action.\n\nFor many firms, that means moving from governance evidence to customer evidence.\n\nTraditional MI remains important. Complaint volumes, cancellation rates, quality assurance scores, customer satisfaction measures and vulnerability metrics can all provide valuable indicators of performance.\n\nHowever, these measures do not always explain what customers have actually experienced.\n\nA low level of complaints does not necessarily mean customers understood a product. A completed process does not automatically demonstrate that communications were effective. A customer interaction may have followed the correct procedure without necessarily delivering the support a customer needed.\n\nConsumer Duty requires firms to understand not only what happened, but whether good customer outcomes were achieved as a result.\n\nAvoiding routine Consumer Duty reporting\n\nThe annual board report should not become an exercise in repeating last year\u2019s process.\n\nThe FCA\u2019s review of second-year board reports highlighted areas where firms can continue to strengthen their approach, including linking data more clearly to customer outcomes, demonstrating meaningful board challenge, improving oversight of third parties, and strengthening their assessment of consumer understanding and support.\n\nThese observations reflect a broader regulatory theme. Having governance structures in place is important, but firms must also be able to demonstrate that those structures are delivering tangible value for customers.\n\nBoards should therefore be asking more challenging questions:\n\n\u2022 What is our MI really telling us?\n\u2022 Where are customers encountering difficulty?\n\n\u2022 How do we know customers understand key information?\n\n\u2022 What customer evidence supports our conclusions?\n\n\u2022 Are there emerging risks that are not yet visible through complaints or traditional metrics?\n\nThe most valuable discussions are often not about the metrics firms already have, but about the questions those metrics raise.\n\nWhy customer interactions matter\n\nOne of the most difficult aspects of the Consumer Duty is assessing outcomes such as consumer understanding and consumer support.\n\nThese outcomes cannot always be measured through a dashboard or a single performance metric. They depend on how customers receive, interpret and act on information throughout their journey.\n\nThis is why customer interactions are becoming an increasingly important source of evidence.\n\nEvery day, firms generate significant amounts of data through telephone calls, video meetings, emails, webchat conversations and other customer communications. Within those interactions sits valuable information about whether customers appear to understand key information, whether support is meeting their needs and whether indicators of vulnerability are being recognised appropriately.\n\nCustomer interactions can also highlight early signs of potential problems before they emerge through complaint trends, remediation activity or other traditional indicators.\n\nFor boards seeking a more complete view of customer outcomes, this evidence can provide valuable context alongside existing management information.\n\nHow interaction intelligence can support board oversight\n\nTechnology is increasingly helping firms analyse larger volumes of customer interactions and identify patterns that might otherwise be missed through traditional monitoring approaches alone.\n\nUsed appropriately, interaction analytics can help firms:\n\n\u2022 identify potential indicators of customer misunderstanding\n\n\u2022 highlight recurring themes and emerging risks\n\n\u2022 strengthen oversight of customer support activities\n\n\u2022 provide additional evidence when assessing customer outcomes\n\n\u2022 support more informed board discussions and decision-making\n\nInteraction analytics should be considered alongside other sources of evidence rather than in isolation.\n\nBoards should continue to draw on a range of quantitative and qualitative evidence, including management information, complaints data, quality assurance reviews and customer feedback.\n\nThe objective is not to automate judgement. It is to provide a richer understanding of the customer experience.\n\nAt Recordsure, we are seeing increasing interest in interaction analytics as firms look to strengthen their Consumer Duty evidence frameworks and gain deeper insight into customer outcomes.\n\nBetter evidence leads to better challenge\n\nOne of the FCA\u2019s consistent messages is the importance of meaningful challenge from governing bodies.\n\nBoards need to demonstrate how they have tested information, challenged assumptions and required action where appropriate.\n\nThat challenge is only as effective as the evidence available.\n\nWhen boards have access to richer customer outcome insights, they are often better placed to ask the questions that matter most:\n\n\u2022 What is driving this trend?\n\n\u2022 How confident are we in our conclusions?\n\n\u2022 What customer evidence supports this position?\n\n\u2022 Are we identifying risks early enough?\n\n\u2022 Are our interventions improving outcomes?\n\nThese conversations help move firms beyond reporting activity and towards genuine outcome oversight.\n\nConsumer Duty is now an ongoing discipline\n\nThe next phase of Consumer Duty is less about building frameworks and more about demonstrating that those frameworks continue to deliver good customer outcomes.\n\nRecent FCA observations suggest increasing focus on how board reports support decision-making, oversight and the delivery of customer outcomes.\n\nThat requires firms to build a more complete picture of the customer experience, challenge assumptions, identify emerging risks and act when outcomes fall short.\n\nFor many firms, customer interactions can provide valuable evidence of customer experiences and outcomes. The challenge is turning that evidence into meaningful insight.\n\nBy combining governance, oversight and customer interaction intelligence, firms can strengthen their understanding of customer outcomes, support better decision-making and build greater confidence that their Consumer Duty framework is delivering what it is designed to achieve: consistently good outcomes for customers.\n\nHow can boards improve the quality of Consumer Duty reporting?\n\nBoards can improve reporting by focusing on customer outcomes rather than reporting activity, challenging assumptions, seeking evidence from multiple sources, and ensuring that management information is translated into meaningful decisions and actions.", "wordCount": 1152, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consumer Duty reports" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-8" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-9" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA: year 2 Consumer Duty board reports, progress and what comes next", "url": "https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "text": "As firms prepare their third annual Consumer Duty board reports, there is a risk that the process starts to feel routine. Governance frameworks are established, reporting cycles are embedded, and boards have been through this exercise before.\n\nYet this is where the real challenge begins.\n\nThe early years of Consumer Duty were largely focused on implementation. Firms built governance structures, reviewed products and services, assessed customer journeys and invested in new management information (MI). Many now have more mature reporting packs, clearer accountability and stronger board oversight.\n\nThe question is no longer whether a Consumer Duty framework exists, but whether firms can demonstrate that customers are receiving good outcomes in practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Key takeaways", "text": "\u2022 Consumer Duty board reports should focus on customer outcomes, not just governance processes.\n\n\u2022 Boards need evidence that helps them understand what customers are actually experiencing.\n\n\u2022 Consumer understanding and consumer support remain among the hardest outcomes to assess.\n\n\u2022 Customer interactions can provide valuable insight into emerging risks and areas of potential customer harm.\n\n\u2022 Stronger evidence supports more effective board challenge and decision-making." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "From governance evidence to customer evidence", "text": "The FCA\u2019s recent reflections on Consumer Duty board reporting suggest the focus is increasingly shifting beyond whether governance arrangements are in place and towards how firms assess customer outcomes and respond when risks emerge.\n\nBoards are expected to understand what monitoring is revealing, where issues may be developing and how insights are driving action.\n\nFor many firms, that means moving from governance evidence to customer evidence.\n\nTraditional MI remains important. Complaint volumes, cancellation rates, quality assurance scores, customer satisfaction measures and vulnerability metrics can all provide valuable indicators of performance.\n\nHowever, these measures do not always explain what customers have actually experienced.\n\nA low level of complaints does not necessarily mean customers understood a product. A completed process does not automatically demonstrate that communications were effective. A customer interaction may have followed the correct procedure without necessarily delivering the support a customer needed.\n\nConsumer Duty requires firms to understand not only what happened, but whether good customer outcomes were achieved as a result." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Avoiding routine Consumer Duty reporting", "text": "The annual board report should not become an exercise in repeating last year\u2019s process.\n\nThe FCA\u2019s review of second-year board reports highlighted areas where firms can continue to strengthen their approach, including linking data more clearly to customer outcomes, demonstrating meaningful board challenge, improving oversight of third parties, and strengthening their assessment of consumer understanding and support.\n\nThese observations reflect a broader regulatory theme. Having governance structures in place is important, but firms must also be able to demonstrate that those structures are delivering tangible value for customers.\n\nBoards should therefore be asking more challenging questions:\n\n\u2022 What is our MI really telling us?\n\u2022 Where are customers encountering difficulty?\n\n\u2022 How do we know customers understand key information?\n\n\u2022 What customer evidence supports our conclusions?\n\n\u2022 Are there emerging risks that are not yet visible through complaints or traditional metrics?\n\nThe most valuable discussions are often not about the metrics firms already have, but about the questions those metrics raise." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Why customer interactions matter", "text": "One of the most difficult aspects of the Consumer Duty is assessing outcomes such as consumer understanding and consumer support.\n\nThese outcomes cannot always be measured through a dashboard or a single performance metric. They depend on how customers receive, interpret and act on information throughout their journey.\n\nThis is why customer interactions are becoming an increasingly important source of evidence.\n\nEvery day, firms generate significant amounts of data through telephone calls, video meetings, emails, webchat conversations and other customer communications. Within those interactions sits valuable information about whether customers appear to understand key information, whether support is meeting their needs and whether indicators of vulnerability are being recognised appropriately.\n\nCustomer interactions can also highlight early signs of potential problems before they emerge through complaint trends, remediation activity or other traditional indicators.\n\nFor boards seeking a more complete view of customer outcomes, this evidence can provide valuable context alongside existing management information." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "How interaction intelligence can support board oversight", "text": "Technology is increasingly helping firms analyse larger volumes of customer interactions and identify patterns that might otherwise be missed through traditional monitoring approaches alone.\n\nUsed appropriately, interaction analytics can help firms:\n\n\u2022 identify potential indicators of customer misunderstanding\n\n\u2022 highlight recurring themes and emerging risks\n\n\u2022 strengthen oversight of customer support activities\n\n\u2022 provide additional evidence when assessing customer outcomes\n\n\u2022 support more informed board discussions and decision-making\n\nInteraction analytics should be considered alongside other sources of evidence rather than in isolation.\n\nBoards should continue to draw on a range of quantitative and qualitative evidence, including management information, complaints data, quality assurance reviews and customer feedback.\n\nThe objective is not to automate judgement. It is to provide a richer understanding of the customer experience.\n\nAt Recordsure, we are seeing increasing interest in interaction analytics as firms look to strengthen their Consumer Duty evidence frameworks and gain deeper insight into customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Better evidence leads to better challenge", "text": "One of the FCA\u2019s consistent messages is the importance of meaningful challenge from governing bodies.\n\nBoards need to demonstrate how they have tested information, challenged assumptions and required action where appropriate.\n\nThat challenge is only as effective as the evidence available.\n\nWhen boards have access to richer customer outcome insights, they are often better placed to ask the questions that matter most:\n\n\u2022 What is driving this trend?\n\n\u2022 How confident are we in our conclusions?\n\n\u2022 What customer evidence supports this position?\n\n\u2022 Are we identifying risks early enough?\n\n\u2022 Are our interventions improving outcomes?\n\nThese conversations help move firms beyond reporting activity and towards genuine outcome oversight." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Consumer Duty is now an ongoing discipline", "text": "The next phase of Consumer Duty is less about building frameworks and more about demonstrating that those frameworks continue to deliver good customer outcomes.\n\nRecent FCA observations suggest increasing focus on how board reports support decision-making, oversight and the delivery of customer outcomes.\n\nThat requires firms to build a more complete picture of the customer experience, challenge assumptions, identify emerging risks and act when outcomes fall short.\n\nFor many firms, customer interactions can provide valuable evidence of customer experiences and outcomes. The challenge is turning that evidence into meaningful insight.\n\nBy combining governance, oversight and customer interaction intelligence, firms can strengthen their understanding of customer outcomes, support better decision-making and build greater confidence that their Consumer Duty framework is delivering what it is designed to achieve: consistently good outcomes for customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "How can boards improve the quality of Consumer Duty reporting?", "text": "Boards can improve reporting by focusing on customer outcomes rather than reporting activity, challenging assumptions, seeking evidence from multiple sources, and ensuring that management information is translated into meaningful decisions and actions." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-board-reports-from-governance-to-customer-outcomes/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What should a Consumer Duty board report include?", "acceptedAnswer": { "@type": "Answer", "text": "A Consumer Duty board report should provide an assessment of customer outcomes, identify any areas where outcomes may not be meeting expectations, summarise actions taken during the reporting period, and explain how the board has provided oversight and challenge." } }, { "@type": "Question", "name": "What is the FCA focusing on in Consumer Duty board reports?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA\u2019s recent commentary suggests firms should be able to demonstrate how they assess customer outcomes, identify emerging risks, challenge assumptions, and take action where improvements are needed. The focus is increasingly on evidence of outcomes rather than the existence of governance processes alone." } }, { "@type": "Question", "name": "How can firms evidence consumer understanding?", "acceptedAnswer": { "@type": "Answer", "text": "Consumer understanding can be evidenced through a combination of customer feedback, testing of communications, behavioural insights, customer interaction reviews, complaints analysis and outcome monitoring. No single metric is likely to provide a complete picture." } }, { "@type": "Question", "name": "Why are customer interactions important for Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "Customer interactions can provide direct evidence of how customers experience products, services, communications and support. They can also help firms identify potential misunderstandings, vulnerability indicators and emerging risks that may not yet be visible through traditional MI." } }, { "@type": "Question", "name": "Can technology help with Consumer Duty oversight?", "acceptedAnswer": { "@type": "Answer", "text": "Technology can help firms analyse larger volumes of customer interactions and identify trends, themes and risks. However, it should complement, not replace, governance, professional judgement and board accountability." } } ] } ] } ``` ### Money Marketing: Preventing foreseeable harm under Consumer Duty - URL: https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/ - Published: 2026-07-14 - Modified: 2026-10-09 **Topic:** Consumer Duty harm Joe Norburn’s Money Marketing opinion piece calls on firms to prevent foreseeable harm before it emerges through traditional warning signs. Ongoing monitoring of interactions and behavioural trends can support that expectation. #### Key points - Joe Norburn argues firms should identify foreseeable harm before complaints, arrears or other indicators appear. - Changing customer circumstances can affect product suitability, value and outcomes over time. - Ongoing customer monitoring can help firms respond before harm occurs. - Consumer Duty compliance now requires continuous outcome monitoring and adaptable assumptions. In a recent Money Marketing opinion piece, Joe Norburn, CEO of TCC Group ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)), explores how the FCA’s latest guidance reinforces a core Consumer Duty expectation: firms should proactively identify and address foreseeable harm before it emerges through complaints, arrears or other traditional indicators. Changing customer circumstances can affect product suitability, value and outcomes over time. As financial pressures continue to evolve, firms need to look beyond conventional metrics and consider more subtle signs of customer vulnerability, disengagement or changing behaviour. “A product that offered fair outcomes a year ago may still meet its original design criteria but no longer work in practice for customers with less financial headroom or reduced resilience,” comments Joe. For Recordsure, this underscores the importance of ongoing customer monitoring and insight. Identifying potential risks early through customer interactions and behavioural trends can help firms respond before harm occurs and demonstrate that they are delivering good outcomes in line with Consumer Duty expectations. Compliance is no longer about periodic reviews alone. Firms must continuously monitor customer outcomes, challenge assumptions and adapt their approach as customer needs and regulatory expectations evolve. #### Supporting sources - [Money Marketing article on foreseeable harm](https://www.moneymarketing.co.uk/opinion/joe-norburn-preventing-foreseeable-harm-in-an-evolving-consumer-duty-landscape/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Money Marketing: Preventing foreseeable harm under Consumer Duty", "item": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/", "name": "Money Marketing: Preventing foreseeable harm under Consumer Duty", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-07-14T15:09:45+01:00", "dateModified": "2026-07-14T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-07-14" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Money Marketing: Preventing foreseeable harm under Consumer Duty", "datePublished": "2026-07-14T15:09:45+01:00", "dateModified": "2026-10-09T04:42:45+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8b330003cf0b414083ddfa207b789835/thumbnail-1024-c0685be5d8860f397adc0e807458c0742af37c34d633a61d3fb7ec281078b7d0.jpg", "description": "In Money Marketing, Joe Norburn, CEO of TCC Group, explains how firms can prevent foreseeable harm under the Consumer Duty.", "inLanguage": "en-GB", "articleBody": "Joe Norburn\u2019s Money Marketing opinion piece calls on firms to prevent foreseeable harm before it emerges through traditional warning signs. Ongoing monitoring of interactions and behavioural trends can support that expectation.\n\nIn a recent Money Marketing opinion piece, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), explores how the FCA\u2019s latest guidance reinforces a core Consumer Duty expectation: firms should proactively identify and address foreseeable harm before it emerges through complaints, arrears or other traditional indicators.\n\nChanging customer circumstances can affect product suitability, value and outcomes over time. As financial pressures continue to evolve, firms need to look beyond conventional metrics and consider more subtle signs of customer vulnerability, disengagement or changing behaviour.\n\n\u201cA product that offered fair outcomes a year ago may still meet its original design criteria but no longer work in practice for customers with less financial headroom or reduced resilience,\u201d comments Joe.\n\nFor Recordsure, this underscores the importance of ongoing customer monitoring and insight. Identifying potential risks early through customer interactions and behavioural trends can help firms respond before harm occurs and demonstrate that they are delivering good outcomes in line with Consumer Duty expectations.\n\nCompliance is no longer about periodic reviews alone. Firms must continuously monitor customer outcomes, challenge assumptions and adapt their approach as customer needs and regulatory expectations evolve.", "wordCount": 218, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consumer Duty harm" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "Money Marketing article on foreseeable harm", "url": "https://www.moneymarketing.co.uk/opinion/joe-norburn-preventing-foreseeable-harm-in-an-evolving-consumer-duty-landscape/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#webpage" }, "inLanguage": "en-GB", "text": "In a recent Money Marketing opinion piece, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), explores how the FCA\u2019s latest guidance reinforces a core Consumer Duty expectation: firms should proactively identify and address foreseeable harm before it emerges through complaints, arrears or other traditional indicators.\n\nChanging customer circumstances can affect product suitability, value and outcomes over time. As financial pressures continue to evolve, firms need to look beyond conventional metrics and consider more subtle signs of customer vulnerability, disengagement or changing behaviour.\n\n\u201cA product that offered fair outcomes a year ago may still meet its original design criteria but no longer work in practice for customers with less financial headroom or reduced resilience,\u201d comments Joe.\n\nFor Recordsure, this underscores the importance of ongoing customer monitoring and insight. Identifying potential risks early through customer interactions and behavioural trends can help firms respond before harm occurs and demonstrate that they are delivering good outcomes in line with Consumer Duty expectations.\n\nCompliance is no longer about periodic reviews alone. Firms must continuously monitor customer outcomes, challenge assumptions and adapt their approach as customer needs and regulatory expectations evolve." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/money-marketing-preventing-foreseeable-harm-under-consumer-duty/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is foreseeable harm?", "acceptedAnswer": { "@type": "Answer", "text": "Foreseeable harm refers to risks that firms should identify and address before they appear through complaints, arrears or other indicators." } }, { "@type": "Question", "name": "Why can product outcomes change over time?", "acceptedAnswer": { "@type": "Answer", "text": "Changing customer circumstances can affect suitability, value and resilience even where the original design still stands." } }, { "@type": "Question", "name": "What role does ongoing monitoring play?", "acceptedAnswer": { "@type": "Answer", "text": "It helps firms identify risks early and demonstrate good outcomes under Consumer Duty." } } ] } ] } ``` ### How can firms maintain oversight as AI takes on more decisions? - URL: https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/ - Published: 2026-07-13 - Modified: 2026-10-09 **Topic:** AI Oversight The FCA Mills Review describes a financial services market in which AI increasingly influences decisions and customer journeys. Recordsure’s perspective is that firms will need continuous monitoring, clear evidence and effective human oversight as this responsibility grows. #### Key points - The FCA's Mills Review (July 2026) maps how AI could reshape financial services by 2030 — from assistant to autonomous decision-maker. - Firms face a governance gap: oversight frameworks were built for human decision-makers, not AI agents operating at scale. - Model drift and third-party AI supply chains make one-off approvals insufficient — continuous monitoring is essential. - Consumer Duty and SMR remain the regulatory foundation, but evidencing them in an AI-led environment requires new approaches. - Firms that can demonstrate effective oversight of AI decisions will be better positioned for the FCA's outcomes-focused supervision. On 6 July 2026, the FCA published the **Mills Review** — a wide-ranging examination of how AI might reshape financial services by 2030. Drawing on more than 5,000 consumer responses and submissions from firms, academics, and regulators, the review outlines a future that looks significantly different from today. For compliance, risk, and operations leaders, the question it raises is not theoretical. AI is already embedded in many firms' workflows. The review simply accelerates a conversation that is already overdue. #### From AI assistance to AI delegation The review traces a three-stage evolution that most firms are currently navigating, even if they don't describe it in those terms. In stage one, AI presents options — surfacing information, flagging patterns, or summarising data. In stage two, AI makes recommendations that humans ratify. In stage three, AI acts within agreed parameters without requiring human sign-off for each decision. The review uses a simple but effective illustration: a customer's savings account. AI first presents switching options. Then recommends a specific product. Eventually, it moves money automatically within parameters the customer has agreed to. The question for firms is not whether this kind of delegation is happening — it is whether their governance frameworks were designed for it. #### What an AI-enabled financial system could look like The review outlines an AI-enabled financial system in which automated agents are embedded across compliance monitoring, customer support, claims handling, and risk management. Agent-led customer journeys — where AI coordinates multiple tasks on behalf of a customer — are already emerging in early forms. The review notes that roughly one in five consumers would already be open to AI systems making financial recommendations. The potential benefits are real: lower barriers to financial planning, higher product-switching rates, and more personalised service at scale. The risks are equally real. Deepfakes, synthetic identities, AI-enabled fraud, and social engineering attacks represent a new threat surface that firms must monitor and report on. > "Meaningful governance requires more than placing a person within a process. Firms need clarity on what decisions humans are responsible for — and whether they genuinely understand the technology they oversee." #### The role of humans is changing, not disappearing One of the most important clarifications in the review is that increased AI involvement does not mean fewer humans — it means differently positioned humans. The expectation is that people will shift away from task execution toward setting parameters, monitoring outcomes, investigating exceptions, and challenging AI-generated decisions. That shift is conceptually straightforward. In practice, it demands something firms rarely have: a clear definition of which decisions are being delegated to AI, what the acceptable output range looks like, and how quickly a human can identify and act on exceptions. #### Why accountability becomes harder As AI ecosystems grow more complex — multiple models, third-party providers, interconnected supply chains — understanding how any given outcome was produced becomes significantly harder. The audit trail that compliance teams rely on becomes fragmented across systems, vendors, and decision layers. The review highlights **model drift** as a specific concern. A system that was accurate at the point of testing may behave differently as market conditions shift or customer behaviour evolves. This means AI governance cannot be a one-off approval at deployment. It requires continuous monitoring — and the evidence to demonstrate that monitoring is actually happening. #### Why the Consumer Duty remains central The Mills Review concludes that the existing frameworks — the Consumer Duty and the Senior Managers Regime — remain a strong foundation. The challenge is not regulatory adequacy. The challenge is demonstrating how those obligations hold as AI grows more influential in customer journeys and decision-making. For Consumer Duty specifically, the test is outcomes-based: can firms show that customers in comparable situations received comparable treatment, that needs and vulnerabilities were identified and acted upon, and that communications and decisions were fair? When AI is involved in any of those stages, the evidence trail for each question must still be there. #### Regulation is becoming more data-driven The review recommends development of an **AI-enabled Agentic Supervisory Model** for the FCA itself — a shift toward regulatory supervision that detects emerging harms and system-wide risks through data patterns rather than point-in-time document reviews. Future supervision is expected to emphasise outcomes, patterns, and real evidence rather than process documentation alone. That is a significant shift. Firms whose oversight relies primarily on management information and periodic samples will be less well-positioned than those who can demonstrate continuous, structured monitoring across interactions and decisions. #### Preparing for what comes next Firms do not need fully autonomous AI before accountability questions arise. They arise the moment AI is shaping which customers get called back, which claims get prioritised, or which advice templates are applied. The ability to demonstrate effective oversight of those inputs may become just as important as the technology itself. Recordsure is designed for exactly this environment — helping firms review customer interactions at scale, identify conduct risks, monitor outcomes, and evidence that controls are working. As AI takes on more of the work, what firms need is not less oversight but smarter, more systematic oversight. #### Supporting sources - [Mills Review](https://www.fca.org.uk/publication/corporate/the-mills-review.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How can firms maintain oversight as AI takes on more decisions?", "item": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/", "name": "How can firms maintain oversight as AI takes on more decisions?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-07-13T09:34:50+01:00", "dateModified": "2026-07-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-07-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How can firms maintain oversight as AI takes on more decisions?", "datePublished": "2026-07-13T09:34:50+01:00", "dateModified": "2026-10-09T04:42:45+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/84e80844fa85456e80de9b49bdd1568e/thumbnail-1600-3a143d9cbf8f9ad801639165e59a4e1ad5eb755ce02fe7993a25aab53e4a273d.jpg", "description": "As AI tools take on more of the analytical and administrative work, the human oversight question becomes more pressing \u2014 not less. We examine what responsible oversight looks like in practice following the FCA's Mills Review.", "inLanguage": "en-GB", "articleBody": "The FCA Mills Review describes a financial services market in which AI increasingly influences decisions and customer journeys. Recordsure\u2019s perspective is that firms will need continuous monitoring, clear evidence and effective human oversight as this responsibility grows.\n\nOn 6 July 2026, the FCA published the Mills Review \u2014 a wide-ranging examination of how AI might reshape financial services by 2030. Drawing on more than 5,000 consumer responses and submissions from firms, academics, and regulators, the review outlines a future that looks significantly different from today.\n\nFor compliance, risk, and operations leaders, the question it raises is not theoretical. AI is already embedded in many firms' workflows. The review simply accelerates a conversation that is already overdue.\n\nFrom AI assistance to AI delegation\n\nThe review traces a three-stage evolution that most firms are currently navigating, even if they don't describe it in those terms. In stage one, AI presents options \u2014 surfacing information, flagging patterns, or summarising data. In stage two, AI makes recommendations that humans ratify. In stage three, AI acts within agreed parameters without requiring human sign-off for each decision.\n\nThe review uses a simple but effective illustration: a customer's savings account. AI first presents switching options. Then recommends a specific product. Eventually, it moves money automatically within parameters the customer has agreed to. The question for firms is not whether this kind of delegation is happening \u2014 it is whether their governance frameworks were designed for it.\n\nWhat an AI-enabled financial system could look like\n\nThe review outlines an AI-enabled financial system in which automated agents are embedded across compliance monitoring, customer support, claims handling, and risk management. Agent-led customer journeys \u2014 where AI coordinates multiple tasks on behalf of a customer \u2014 are already emerging in early forms.\n\nThe review notes that roughly one in five consumers would already be open to AI systems making financial recommendations. The potential benefits are real: lower barriers to financial planning, higher product-switching rates, and more personalised service at scale.\n\nThe risks are equally real. Deepfakes, synthetic identities, AI-enabled fraud, and social engineering attacks represent a new threat surface that firms must monitor and report on.\n\n\"Meaningful governance requires more than placing a person within a process. Firms need clarity on what decisions humans are responsible for \u2014 and whether they genuinely understand the technology they oversee.\"\n\nThe role of humans is changing, not disappearing\n\nOne of the most important clarifications in the review is that increased AI involvement does not mean fewer humans \u2014 it means differently positioned humans. The expectation is that people will shift away from task execution toward setting parameters, monitoring outcomes, investigating exceptions, and challenging AI-generated decisions.\n\nThat shift is conceptually straightforward. In practice, it demands something firms rarely have: a clear definition of which decisions are being delegated to AI, what the acceptable output range looks like, and how quickly a human can identify and act on exceptions.\n\nWhy accountability becomes harder\n\nAs AI ecosystems grow more complex \u2014 multiple models, third-party providers, interconnected supply chains \u2014 understanding how any given outcome was produced becomes significantly harder. The audit trail that compliance teams rely on becomes fragmented across systems, vendors, and decision layers.\n\nThe review highlights model drift as a specific concern. A system that was accurate at the point of testing may behave differently as market conditions shift or customer behaviour evolves. This means AI governance cannot be a one-off approval at deployment. It requires continuous monitoring \u2014 and the evidence to demonstrate that monitoring is actually happening.\n\nWhy the Consumer Duty remains central\n\nThe Mills Review concludes that the existing frameworks \u2014 the Consumer Duty and the Senior Managers Regime \u2014 remain a strong foundation. The challenge is not regulatory adequacy. The challenge is demonstrating how those obligations hold as AI grows more influential in customer journeys and decision-making.\n\nFor Consumer Duty specifically, the test is outcomes-based: can firms show that customers in comparable situations received comparable treatment, that needs and vulnerabilities were identified and acted upon, and that communications and decisions were fair? When AI is involved in any of those stages, the evidence trail for each question must still be there.\n\nRegulation is becoming more data-driven\n\nThe review recommends development of an AI-enabled Agentic Supervisory Model for the FCA itself \u2014 a shift toward regulatory supervision that detects emerging harms and system-wide risks through data patterns rather than point-in-time document reviews. Future supervision is expected to emphasise outcomes, patterns, and real evidence rather than process documentation alone.\n\nThat is a significant shift. Firms whose oversight relies primarily on management information and periodic samples will be less well-positioned than those who can demonstrate continuous, structured monitoring across interactions and decisions.\n\nPreparing for what comes next\n\nFirms do not need fully autonomous AI before accountability questions arise. They arise the moment AI is shaping which customers get called back, which claims get prioritised, or which advice templates are applied. The ability to demonstrate effective oversight of those inputs may become just as important as the technology itself.\n\nRecordsure is designed for exactly this environment \u2014 helping firms review customer interactions at scale, identify conduct risks, monitor outcomes, and evidence that controls are working. 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Drawing on more than 5,000 consumer responses and submissions from firms, academics, and regulators, the review outlines a future that looks significantly different from today.\n\nFor compliance, risk, and operations leaders, the question it raises is not theoretical. AI is already embedded in many firms' workflows. The review simply accelerates a conversation that is already overdue." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "From AI assistance to AI delegation", "text": "The review traces a three-stage evolution that most firms are currently navigating, even if they don't describe it in those terms. In stage one, AI presents options \u2014 surfacing information, flagging patterns, or summarising data. In stage two, AI makes recommendations that humans ratify. In stage three, AI acts within agreed parameters without requiring human sign-off for each decision.\n\nThe review uses a simple but effective illustration: a customer's savings account. AI first presents switching options. Then recommends a specific product. Eventually, it moves money automatically within parameters the customer has agreed to. The question for firms is not whether this kind of delegation is happening \u2014 it is whether their governance frameworks were designed for it." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "What an AI-enabled financial system could look like", "text": "The review outlines an AI-enabled financial system in which automated agents are embedded across compliance monitoring, customer support, claims handling, and risk management. Agent-led customer journeys \u2014 where AI coordinates multiple tasks on behalf of a customer \u2014 are already emerging in early forms.\n\nThe review notes that roughly one in five consumers would already be open to AI systems making financial recommendations. The potential benefits are real: lower barriers to financial planning, higher product-switching rates, and more personalised service at scale.\n\nThe risks are equally real. Deepfakes, synthetic identities, AI-enabled fraud, and social engineering attacks represent a new threat surface that firms must monitor and report on.\n\n\"Meaningful governance requires more than placing a person within a process. Firms need clarity on what decisions humans are responsible for \u2014 and whether they genuinely understand the technology they oversee.\"" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "The role of humans is changing, not disappearing", "text": "One of the most important clarifications in the review is that increased AI involvement does not mean fewer humans \u2014 it means differently positioned humans. The expectation is that people will shift away from task execution toward setting parameters, monitoring outcomes, investigating exceptions, and challenging AI-generated decisions.\n\nThat shift is conceptually straightforward. In practice, it demands something firms rarely have: a clear definition of which decisions are being delegated to AI, what the acceptable output range looks like, and how quickly a human can identify and act on exceptions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "Why accountability becomes harder", "text": "As AI ecosystems grow more complex \u2014 multiple models, third-party providers, interconnected supply chains \u2014 understanding how any given outcome was produced becomes significantly harder. The audit trail that compliance teams rely on becomes fragmented across systems, vendors, and decision layers.\n\nThe review highlights model drift as a specific concern. A system that was accurate at the point of testing may behave differently as market conditions shift or customer behaviour evolves. This means AI governance cannot be a one-off approval at deployment. It requires continuous monitoring \u2014 and the evidence to demonstrate that monitoring is actually happening." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "Why the Consumer Duty remains central", "text": "The Mills Review concludes that the existing frameworks \u2014 the Consumer Duty and the Senior Managers Regime \u2014 remain a strong foundation. The challenge is not regulatory adequacy. The challenge is demonstrating how those obligations hold as AI grows more influential in customer journeys and decision-making.\n\nFor Consumer Duty specifically, the test is outcomes-based: can firms show that customers in comparable situations received comparable treatment, that needs and vulnerabilities were identified and acted upon, and that communications and decisions were fair? When AI is involved in any of those stages, the evidence trail for each question must still be there." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "Regulation is becoming more data-driven", "text": "The review recommends development of an AI-enabled Agentic Supervisory Model for the FCA itself \u2014 a shift toward regulatory supervision that detects emerging harms and system-wide risks through data patterns rather than point-in-time document reviews. Future supervision is expected to emphasise outcomes, patterns, and real evidence rather than process documentation alone.\n\nThat is a significant shift. Firms whose oversight relies primarily on management information and periodic samples will be less well-positioned than those who can demonstrate continuous, structured monitoring across interactions and decisions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "headline": "Preparing for what comes next", "text": "Firms do not need fully autonomous AI before accountability questions arise. They arise the moment AI is shaping which customers get called back, which claims get prioritised, or which advice templates are applied. The ability to demonstrate effective oversight of those inputs may become just as important as the technology itself.\n\nRecordsure is designed for exactly this environment \u2014 helping firms review customer interactions at scale, identify conduct risks, monitor outcomes, and evidence that controls are working. As AI takes on more of the work, what firms need is not less oversight but smarter, more systematic oversight." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-firms-maintain-oversight-as-ai-takes-on-more-decisions/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is the FCA Mills Review?", "acceptedAnswer": { "@type": "Answer", "text": "The Mills Review, published on 6 July 2026, is an FCA-commissioned examination of how artificial intelligence could reshape financial services by 2030. It drew on over 5,000 consumer responses and submissions from firms, academics, and regulators \u2014 and sets out a framework for how oversight and regulation should evolve alongside AI adoption." } }, { "@type": "Question", "name": "What does AI delegation mean for compliance teams?", "acceptedAnswer": { "@type": "Answer", "text": "AI delegation means that AI systems \u2014 rather than humans \u2014 make or significantly shape decisions in areas like customer triage, claims handling, and compliance monitoring. For compliance teams, this creates new accountability questions: who is responsible when an AI system produces an unfair outcome, and can you demonstrate that you were monitoring for it?" } }, { "@type": "Question", "name": "What is model drift and why does it matter for governance?", "acceptedAnswer": { "@type": "Answer", "text": "Model drift occurs when an AI system's behaviour changes over time as market conditions, customer behaviour, or input data patterns evolve. A system that was accurate and fair at deployment may behave differently six months later. This is why AI governance cannot be a one-off sign-off \u2014 it requires continuous monitoring against defined outcome benchmarks." } }, { "@type": "Question", "name": "Does the Consumer Duty still apply when AI is involved?", "acceptedAnswer": { "@type": "Answer", "text": "Yes. The Mills Review concludes that the Consumer Duty and Senior Managers Regime remain the regulatory foundation regardless of whether a human or an AI system was involved in a customer outcome. The challenge is evidencing compliance \u2014 firms need to be able to show that AI-influenced decisions met the same standards of fairness, suitability, and vulnerability identification as human-led ones." } }, { "@type": "Question", "name": "How is the FCA changing its own supervision approach?", "acceptedAnswer": { "@type": "Answer", "text": "The review recommends that the FCA develop an AI-enabled Agentic Supervisory Model \u2014 using data-driven methods to detect emerging consumer harms and system-wide risks in near real time. Future supervision is expected to focus more on outcomes and patterns than on point-in-time document reviews, making continuous evidence trails increasingly important for firms." } } ] } ] } ``` ### Citywire: Platforms seek greater visibility over AML controls - URL: https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/ - Published: 2026-07-09 - Modified: 2026-10-09 **Topic:** AML oversight Citywire reports that investment platforms are strengthening AML checks as FCA scrutiny of financial crime oversight increases. Firms need evidence of due diligence, monitoring and accountability across adviser and platform relationships. #### Key points - Investment platforms are strengthening AML controls as scrutiny of financial crime oversight increases. - Some firms are moving from reliance models to their own verification and screening processes. - Reliance models still require evidence of monitoring, oversight and accountability. - Joe Norburn says stronger models share intelligence and oversight across advisers, platforms and technology providers. Investment platforms are strengthening anti-money laundering (AML) controls as FCA scrutiny of financial crime oversight continues to increase. More firms are moving away from relying solely on advisers for customer due diligence and are undertaking their own verification and screening processes. SS&C Hubwise has moved from a reliance model to a non-reliance approach, introducing additional identity verification and AML checks for clients. Compliance specialists interviewed by Citywire note that firms using reliance models must be able to demonstrate monitoring, oversight and accountability. #### Evidence and shared oversight For firms operating in an increasingly complex regulatory environment, the focus is not only on conducting the right checks. Firms also need to evidence how financial crime risks are identified, assessed and managed. As expectations around governance and oversight evolve, clear audit trails and consistent record-keeping remain critical parts of an effective AML framework. Joe Norburn, CEO at TCC Group, comments: ‘The strongest operating models are likely to be those where advisers, platforms and technology providers each contribute intelligence and oversight, rather than treating financial crime prevention as somebody else’s responsibility.’ [Read more from Citywire](https://citywire.com/new-model-adviser/news/platforms-up-aml-checks-on-advisers-clients-after-fca-spotlight/a2493553). #### Supporting sources - [Platforms up AML checks on advisers’ clients after FCA spotlight](https://citywire.com/new-model-adviser/news/platforms-up-aml-checks-on-advisers-clients-after-fca-spotlight/a2493553) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Citywire: Platforms seek greater visibility over AML controls", "item": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/", "name": "Citywire: Platforms seek greater visibility over AML controls", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-07-09T15:41:16+01:00", "dateModified": "2026-07-09T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-07-09" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Citywire: Platforms seek greater visibility over AML controls", "datePublished": "2026-07-09T15:41:16+01:00", "dateModified": "2026-10-09T04:50:06+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8a4ac87a88a7444ab6467afffcd85f91/thumbnail-1600-388f843ce78f69dbda3e5ad5cd767d48ebdef90658b1222ba0e4490de047ac98.jpg", "description": "How platforms are strengthening AML oversight, moving beyond reliance models and building clearer evidence of financial crime controls.", "inLanguage": "en-GB", "articleBody": "Citywire reports that investment platforms are strengthening AML checks as FCA scrutiny of financial crime oversight increases. Firms need evidence of due diligence, monitoring and accountability across adviser and platform relationships.\n\nInvestment platforms are strengthening anti-money laundering (AML) controls as FCA scrutiny of financial crime oversight continues to increase. More firms are moving away from relying solely on advisers for customer due diligence and are undertaking their own verification and screening processes.\n\nSS&C Hubwise has moved from a reliance model to a non-reliance approach, introducing additional identity verification and AML checks for clients. Compliance specialists interviewed by Citywire note that firms using reliance models must be able to demonstrate monitoring, oversight and accountability.\n\nEvidence and shared oversight\n\nFor firms operating in an increasingly complex regulatory environment, the focus is not only on conducting the right checks. Firms also need to evidence how financial crime risks are identified, assessed and managed.\n\nAs expectations around governance and oversight evolve, clear audit trails and consistent record-keeping remain critical parts of an effective AML framework.\n\nJoe Norburn, CEO at TCC Group, comments: \u2018The strongest operating models are likely to be those where advisers, platforms and technology providers each contribute intelligence and oversight, rather than treating financial crime prevention as somebody else\u2019s responsibility.\u2019\n\nRead more from Citywire.", "wordCount": 212, "keywords": [ "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AML oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Platforms up AML checks on advisers\u2019 clients after FCA spotlight", "url": "https://citywire.com/new-model-adviser/news/platforms-up-aml-checks-on-advisers-clients-after-fca-spotlight/a2493553" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage" }, "inLanguage": "en-GB", "text": "Investment platforms are strengthening anti-money laundering (AML) controls as FCA scrutiny of financial crime oversight continues to increase. More firms are moving away from relying solely on advisers for customer due diligence and are undertaking their own verification and screening processes.\n\nSS&C Hubwise has moved from a reliance model to a non-reliance approach, introducing additional identity verification and AML checks for clients. Compliance specialists interviewed by Citywire note that firms using reliance models must be able to demonstrate monitoring, oversight and accountability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage" }, "inLanguage": "en-GB", "headline": "Evidence and shared oversight", "text": "For firms operating in an increasingly complex regulatory environment, the focus is not only on conducting the right checks. Firms also need to evidence how financial crime risks are identified, assessed and managed.\n\nAs expectations around governance and oversight evolve, clear audit trails and consistent record-keeping remain critical parts of an effective AML framework.\n\nJoe Norburn, CEO at TCC Group, comments: \u2018The strongest operating models are likely to be those where advisers, platforms and technology providers each contribute intelligence and oversight, rather than treating financial crime prevention as somebody else\u2019s responsibility.\u2019\n\nRead more from Citywire." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/citywire-platforms-seek-greater-visibility-over-aml-controls/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the Citywire article cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covers how investment platforms are strengthening AML controls as FCA scrutiny of financial crime oversight increases." } }, { "@type": "Question", "name": "What changed at SS&C Hubwise?", "acceptedAnswer": { "@type": "Answer", "text": "It points to SS&C Hubwise moving from a reliance model to a non-reliance approach, with additional identity verification and AML checks." } }, { "@type": "Question", "name": "What evidence do reliance models require?", "acceptedAnswer": { "@type": "Answer", "text": "Firms using reliance models need to demonstrate monitoring, oversight and accountability." } }, { "@type": "Question", "name": "What operating model does Joe Norburn describe?", "acceptedAnswer": { "@type": "Answer", "text": "He says stronger models are likely to involve advisers, platforms and technology providers each contributing intelligence and oversight." } } ] } ] } ``` ### FPS: The risk of fragmented financial crime oversight - URL: https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/ - Published: 2026-07-01 - Modified: 2026-10-09 **Topic:** Financial crime oversight Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected, making connected oversight essential for clearer financial crime risk visibility. #### Key points - Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected. - Fragmented systems, teams, technologies and data can create exploitable gaps. - Separate financial crime functions can limit visibility of risk. - Connected oversight can provide a clearer view of financial crime risk. Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected, exposing weaknesses not just within individual firms but across the financial system as a whole. In a recent [Fraud Prevention Summit](https://fpsummit.co.uk/briefing/why-fragmented-financial-crime-oversight-is-creating-new-risks-for-firms/) article, Recordsure’s CEO, Joe Norburn, highlighted how fragmented oversight is creating new financial crime risks for firms. #### Fragmented oversight risk With financial crime becoming more interconnected – fragmented systems, teams, technologies and data are creating gaps that can be exploited. Many organisations continue to manage financial crime across separate functions, each with different data sets, priorities and measures of success. This disconnect can lead to limited visibility of risk, particularly where systems and processes fail to connect. This highlights the growing need for more connected oversight, where systems, data and monitoring provide a clearer, more consistent view of financial crime risk. > Financial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness. [Fraud Prevention Summit briefing](https://fpsummit.co.uk/briefing/why-fragmented-financial-crime-oversight-is-creating-new-risks-for-firms/) #### Supporting sources - [Fraud Prevention Summit](https://fpsummit.co.uk/briefing/why-fragmented-financial-crime-oversight-is-creating-new-risks-for-firms/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FPS: The risk of fragmented financial crime oversight", "item": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/", "name": "FPS: The risk of fragmented financial crime oversight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-07-01T14:52:07+01:00", "dateModified": "2026-07-01T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-07-01" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FPS: The risk of fragmented financial crime oversight", "datePublished": "2026-07-01T14:52:07+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/7763425976cc4f00975cc21611715187/thumbnail-1024-da30bcfd79f0098c6940d1642a330b4b80d80e506e6713eca8b8a1da3e9bca45.jpg", "description": "How fragmented financial crime oversight creates risk, and why firms need more connected systems, data and monitoring.", "inLanguage": "en-GB", "articleBody": "Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected, making connected oversight essential for clearer financial crime risk visibility.\n\nFraud, money laundering, scams and crypto-enabled crime are increasingly interconnected, exposing weaknesses not just within individual firms but across the financial system as a whole.\n\nIn a recent Fraud Prevention Summit article, Recordsure\u2019s CEO, Joe Norburn, highlighted how fragmented oversight is creating new financial crime risks for firms.\n\nFragmented oversight risk\n\nWith financial crime becoming more interconnected \u2013 fragmented systems, teams, technologies and data are creating gaps that can be exploited.\n\nMany organisations continue to manage financial crime across separate functions, each with different data sets, priorities and measures of success. This disconnect can lead to limited visibility of risk, particularly where systems and processes fail to connect.\n\nThis highlights the growing need for more connected oversight, where systems, data and monitoring provide a clearer, more consistent view of financial crime risk.\n\nFinancial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness.\n\nFraud Prevention Summit briefing", "wordCount": 177, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "Financial crime oversight" } ], "citation": [ { "@type": "CreativeWork", "name": "Fraud Prevention Summit", "url": "https://fpsummit.co.uk/briefing/why-fragmented-financial-crime-oversight-is-creating-new-risks-for-firms/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage" }, "inLanguage": "en-GB", "text": "Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected, exposing weaknesses not just within individual firms but across the financial system as a whole.\n\nIn a recent Fraud Prevention Summit article, Recordsure\u2019s CEO, Joe Norburn, highlighted how fragmented oversight is creating new financial crime risks for firms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Fragmented oversight risk", "text": "With financial crime becoming more interconnected \u2013 fragmented systems, teams, technologies and data are creating gaps that can be exploited.\n\nMany organisations continue to manage financial crime across separate functions, each with different data sets, priorities and measures of success. This disconnect can lead to limited visibility of risk, particularly where systems and processes fail to connect.\n\nThis highlights the growing need for more connected oversight, where systems, data and monitoring provide a clearer, more consistent view of financial crime risk.\n\nFinancial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness.\n\nFraud Prevention Summit briefing" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fps-the-risk-of-fragmented-financial-crime-oversight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What financial crime risks are mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "Fraud, money laundering, scams and crypto-enabled crime are increasingly interconnected." } }, { "@type": "Question", "name": "Why is fragmentation a problem?", "acceptedAnswer": { "@type": "Answer", "text": "Fragmented systems, teams, technologies and data can create exploitable gaps and limit visibility where processes fail to connect." } }, { "@type": "Question", "name": "What do firms need?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need connected oversight, with systems, data and monitoring providing a clearer and more consistent view of financial crime risk." } } ] } ] } ``` ### Attivo CEO: Off-the-shelf AI won’t pass compliance scrutiny – custom AI will - URL: https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/ - Published: 2026-06-25 - Modified: 2026-10-09 **Topic:** Custom AI oversight Attivo’s partnership with Recordsure shows why regulated advice oversight needs firm-specific AI, with governance, traceability, defensible reporting and pre-delivery review built in. #### Key points - Generic AI tools may lack auditability, explainability and alignment with firm-specific compliance frameworks. - Attivo partnered with Recordsure to develop a bespoke AI solution designed around regulatory requirements. - The solution is engineered to review 100% of client advice before delivery. - Recordsure technology analyses client interactions, surfaces risks and targets human expertise. - Governed, evidenced AI is becoming important for monitoring advice and customer outcomes. Generic AI tools cannot reliably deliver compliant advice oversight Off-the-shelf AI typically fails in regulated environments because it cannot deliver consistent auditability, explainability or alignment to firm-specific compliance frameworks. Regulators increasingly expect firms to evidence how decisions are made and demonstrate control over outcomes. Meeting that standard requires purpose-built AI designed around governance, traceability and defensible reporting. #### Custom AI is redefining compliance in financial advice A recent [Citywire interview with Attivo CEO Jo French](https://citywire.com/new-model-adviser/news/attivo-ceo-off-the-shelf-ai-is-for-ego-custom-ai-is-for-compliance/a2492673) cuts through the noise on AI in financial services: off‑the‑shelf tools may impress, but they are not built for compliance. Instead, [Attivo](https://attivo.co.uk/) has partnered with Recordsure to develop a bespoke AI solution designed around regulatory requirements from day one. The distinction is critical. As French points out, many general AI models are effective at generating content – but lack the guardrails, structure and domain training needed to identify compliance risks or apply regulatory standards. In a Consumer Duty environment, that is no longer sufficient. Attivo’s approach flips the model. Its AI capability is engineered to review 100% of client advice before it is delivered, embedding compliance into the process rather than relying on retrospective file checks. This builds the firm’s existing use of Recordsure technology to analyse client interactions, surface risks and target human expertise where it adds most value. The result is a shift from blanket manual reviews to targeted, high-impact oversight, improving both efficiency and customer outcomes. The broader implication is significant. Firms are moving beyond experimentation with generic AI and towards solutions that are trained, governed and evidenced in a regulatory context. AI is no longer just a productivity tool. It is becoming foundational to how firms monitor advice, evidence outcomes and demonstrate compliance at scale. #### Attivo case shows what good looks like AI that is not bolted on, but built around compliance requirements, enriched with domain expertise and aligned to real regulatory use cases. As scrutiny increases, that model is likely to become the standard. #### Supporting sources - [Citywire interview with Attivo CEO Jo French](https://citywire.com/new-model-adviser/news/attivo-ceo-off-the-shelf-ai-is-for-ego-custom-ai-is-for-compliance/a2492673) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Attivo CEO: Off-the-shelf AI won\u2019t pass compliance scrutiny \u2013 custom AI will", "item": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/", "name": "Attivo CEO: Off-the-shelf AI won\u2019t pass compliance scrutiny \u2013 custom AI will", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-06-25T15:20:48+01:00", "dateModified": "2026-06-26T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-06-26" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Attivo CEO: Off-the-shelf AI won\u2019t pass compliance scrutiny \u2013 custom AI will", "datePublished": "2026-06-25T15:20:48+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ff3603501fda45c2b1a3207f0a1758bb/thumbnail-1024-d9df781394abe76f17bcd76db636eb4b0210ec6f7f7ed4cc23c3a29faf3c19e5.jpg", "description": "Attivo\u2019s Recordsure partnership shows why advice firms need governed, traceable AI aligned to compliance frameworks rather than generic AI tools.", "inLanguage": "en-GB", "articleBody": "Attivo\u2019s partnership with Recordsure shows why regulated advice oversight needs firm-specific AI, with governance, traceability, defensible reporting and pre-delivery review built in.\n\nGeneric AI tools cannot reliably deliver compliant advice oversight\n\nOff-the-shelf AI typically fails in regulated environments because it cannot deliver consistent auditability, explainability or alignment to firm-specific compliance frameworks. Regulators increasingly expect firms to evidence how decisions are made and demonstrate control over outcomes. Meeting that standard requires purpose-built AI designed around governance, traceability and defensible reporting.\n\nCustom AI is redefining compliance in financial advice\n\nA recent Citywire interview with Attivo CEO Jo French cuts through the noise on AI in financial services: off\u2011the\u2011shelf tools may impress, but they are not built for compliance.\n\nInstead, Attivo has partnered with Recordsure to develop a bespoke AI solution designed around regulatory requirements from day one.\n\nThe distinction is critical. As French points out, many general AI models are effective at generating content \u2013 but lack the guardrails, structure and domain training needed to identify compliance risks or apply regulatory standards. In a Consumer Duty environment, that is no longer sufficient.\n\nAttivo\u2019s approach flips the model. 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It is becoming foundational to how firms monitor advice, evidence outcomes and demonstrate compliance at scale.\n\nAttivo case shows what good looks like\n\nAI that is not bolted on, but built around compliance requirements, enriched with domain expertise and aligned to real regulatory use cases.\n\nAs scrutiny increases, that model is likely to become the standard.", "wordCount": 345, "keywords": [ "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Custom AI oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Citywire interview with Attivo CEO Jo French", "url": "https://citywire.com/new-model-adviser/news/attivo-ceo-off-the-shelf-ai-is-for-ego-custom-ai-is-for-compliance/a2492673" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/off-the-shelf-ai-wont-pass-compliance-scrutiny-custom-ai-will/#webpage" }, "inLanguage": "en-GB", "text": "Generic AI tools cannot reliably deliver compliant advice oversight\n\nOff-the-shelf AI typically fails in regulated environments because it cannot deliver consistent auditability, explainability or alignment to firm-specific compliance frameworks. 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As French points out, many general AI models are effective at generating content \u2013 but lack the guardrails, structure and domain training needed to identify compliance risks or apply regulatory standards. In a Consumer Duty environment, that is no longer sufficient.\n\nAttivo\u2019s approach flips the model. Its AI capability is engineered to review 100% of client advice before it is delivered, embedding compliance into the process rather than relying on retrospective file checks.\n\nThis builds the firm\u2019s existing use of Recordsure technology to analyse client interactions, surface risks and target human expertise where it adds most value. The result is a shift from blanket manual reviews to targeted, high-impact oversight, improving both efficiency and customer outcomes.\n\nThe broader implication is significant. 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Consistent oversight strengthens detection, monitoring and decision-making. #### Key points - Financial crime risk is being amplified by fragmented oversight and disconnected controls. - Fraud, scams and money laundering are becoming more complex and interconnected. - Fragmentation makes it harder to identify risks early and monitor control effectiveness. - The FCA expects firms to show how controls operate in practice. Joe Norburn, CEO at Recordsure, said financial crime risk is being amplified by fragmented oversight and disconnected controls. As fraud, scams and money laundering become more complex and interconnected, many firms continue to manage risk across multiple systems, teams and data sources. #### Fragmented controls and evidence This fragmentation reduces visibility, making it harder to identify risks early, monitor control effectiveness and evidence outcomes clearly. With the FCA focusing on the Consumer Duty and demonstrable outcomes, firms are expected to show how controls operate in practice, not just on paper. Organisations need consistent oversight to strengthen detection, monitoring and decision-making. > Financial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness #### Supporting sources - [Fragmented controls raise financial crime risk for firms](https://www.accountancydaily.co/fragmented-controls-raise-financial-crime-risk-firms) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Fragmented operating models weaken visibility, controls and response as fraud, scams and money laundering become more interconnected. #### Key points - Financial crime is no longer a siloed compliance issue. - Fraud, scams and money laundering are increasingly interconnected. - Fragmented operating models create gaps in visibility and weaken controls. - Firms need integrated, enterprise-wide oversight and clearer outcomes. Joe Norburn, CEO at Recordsure, said financial crime is no longer a siloed compliance issue but a system-wide risk. As fraud, scams and money laundering become increasingly interconnected, firms are still responding through fragmented operating models, with responsibility split across teams, systems and data. #### Connected oversight This fragmentation is now a risk in itself, creating gaps in visibility, weakening controls and slowing response. With the regulator placing greater emphasis on outcomes, the Consumer Duty and collective defence, firms are expected to move beyond isolated controls and demonstrate integrated, enterprise-wide oversight. The firms best positioned to respond will be those that can bring together data, oversight and decision-making, improving visibility across the organisation and enabling clearer, more consistent outcomes. > Financial crime no longer sits neatly within one team or function. Firms need to operate as connected systems if they want to keep pace with how risk is now evolving. #### Supporting sources - [Financial crime no longer compliance](https://europeanbusinessmagazine.com/financial-crime-no-longer-compliance) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Predictive AI helps classify risk, prioritise action and strengthen evidence. #### Key points - Sampling can miss important issues and cannot provide a complete view at scale. - Predictive AI helps classify and prioritise risk across large volumes of interactions. - Generative AI may summarise or present information, but it solves a different problem. - Continuous visibility can make reviews less slow, costly and hard to defend. *A Recordsure perspective, in partnership with*[*Mailock.*](https://www.beyondencryption.com/) In a [recent podcast discussion with Mailock (Beyond Encryption)](https://www.beyondencryption.com/blog/ai-review-more-conversations), a central theme emerged for regulated firms: how to move beyond limited sampling and build a clearer, defensible understanding of customer outcomes. At the heart of this shift is not just the use of AI but the **right use of AI**. As the discussion makes clear, different types of AI play different roles. In practice, predictive AI and generative AI solve different problems, and understanding that distinction is critical if firms are to scale their oversight effectively. #### Why sampling is no longer enough Traditional oversight has a fundamental gap in traditional oversight approaches. While sampling can surface individual issues, it is not designed to provide a complete or defensible view of customer outcomes at scale. Many firms continue to review *“only a small fraction of calls, files, and customer interactions”* despite increasing regulatory expectations. This creates risk. Important issues whether linked to disclosures, vulnerable customers or unclear customer journeys can easily be missed, meaning outcomes can fall short of expectations. Crucially, *“randomly sampling can mean key issues get missed and outcomes stray far from ideal.”* Scaling review is essential but doing so effectively requires more than simply introducing generic AI capabilities. #### From anecdotes to evidence: where predictive AI matters A key shift is the move from isolated examples to consistent, evidence-based oversight. Small samples may highlight issues, but they cannot prove patterns. As discussed #### “Small samples can spot anecdotes. They struggle to prove themes.” This is where the role of AI becomes more nuanced. While generative AI is often associated with summaries or outputs, the challenge here is different: firms need to identify, classify and prioritise risk across large volumes of interactions. This is particularly important in the context of Consumer Duty, where firms are expected not just to monitor but to “assess, test, understand and evidence the outcomes customers receive.” For Recordsure, this shift from sampling to evidencing outcomes is where scalable conversation review becomes critical. #### The cost of hindsight and the need for ongoing insight Another key risk is the cost of retrospective review. Where oversight is limited, remediation becomes increasingly complex Without the ability to search, classify and prioritise historic evidence at scale, reviews become “slower, costlier, and harder to defend.” This underlines the importance of continuous visibility. As Adrian Crean Strategic Partnerships Director at Recordsure notes: **“Make sure you’re doing this ongoing so there are no surprises.”** Achieving this continuous, proactive view again depends on applying the right AI capabilities. Simply generating outputs is not enough firms need to anticipate and identify risk as it emerges. This is another example of how predictive AI and generative AI solve different problems. #### What AI actually changes (and what it doesn’t) AI alone does not solve a common misconception: that AI alone solves the problem. In reality, the objective is not technology for its own sake, but better visibility and stronger evidence. To achieve stronger outcomes, better visibility of conduct risk and greater regulatory confidence, firms need the ability to review far more conversations than manual teams can manage alone. But scaling review requires clarity on capability - Generative AI may help summarise or present information - Predictive AI enables firms to analyse large datasets, detect risk, and prioritise action The distinction matters because the goal is not just to ‘review more’ but to review more **effectively and defensibly**. #### Building a complete view of customer outcomes The Mailock discussion highlights a broader shift taking place across financial services. The goal is not simply to review more conversations, but to build a more complete, evidence-based understanding of customer outcomes one that stands up to both internal scrutiny and regulatory expectations. For Recordsure, this means firms need to: - Increase visibility across all customer interactions - Identify conduct risk earlier - Provide defensible evidence of good outcomes - Reduce the cost and complexity of remediation This is not achievable through sampling alone and not achievable through generic AI approaches. It requires a clear understanding that predictive AI enables insight and risk detection, while generative AI supports presentation and interpretation. #### Closing perspective As regulatory expectations continue to evolve, particularly under the FCA’s Consumer Duty, firms are under increasing pressure to evidence customer outcomes at scale. The message is clear: - Sampling is no longer sufficient - Reviewing more conversations is essential - And critically, using the right type of AI is what makes that scale meaningful Because ultimately, predictive AI and generative AI solve different problems – and knowing when and how to use each is key to delivering better customer outcomes and defensible oversight. #### Supporting sources - [Mailock](https://www.beyondencryption.com/) - [Podcast discussion with Mailock](https://www.beyondencryption.com/blog/ai-review-more-conversations) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "From sampling to scale: why reviewing more conversations requires the right AI approach", "item": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/", "name": "From sampling to scale: why reviewing more conversations requires the right AI approach", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-06-10T08:36:23+01:00", "dateModified": "2026-06-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-06-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "From sampling to scale: why reviewing more conversations requires the right AI approach", "datePublished": "2026-06-10T08:36:23+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/35e66579411444b3b913dfcc9f75d7ea/thumbnail-1600-abe479ad5af3274ba1e85de5e81d38c29260cf2949f32714ea8e2d263312c6a6.jpg", "description": "Why regulated firms need predictive AI, not sampling alone, to review more conversations and evidence customer outcomes defensibly.", "inLanguage": "en-GB", "articleBody": "Limited sampling cannot give regulated firms a defensible view of customer outcomes at scale. Predictive AI helps classify risk, prioritise action and strengthen evidence.\n\nA Recordsure perspective, in partnership withMailock.\n\nIn a recent podcast discussion with Mailock (Beyond Encryption), a central theme emerged for regulated firms: how to move beyond limited sampling and build a clearer, defensible understanding of customer outcomes.\n\nAt the heart of this shift is not just the use of AI but the right use of AI.\n\nAs the discussion makes clear, different types of AI play different roles. In practice, predictive AI and generative AI solve different problems, and understanding that distinction is critical if firms are to scale their oversight effectively.\n\nWhy sampling is no longer enough\n\nTraditional oversight has a fundamental gap in traditional oversight approaches. While sampling can surface individual issues, it is not designed to provide a complete or defensible view of customer outcomes at scale.\n\nMany firms continue to review \u201conly a small fraction of calls, files, and customer interactions\u201d despite increasing regulatory expectations.\n\nThis creates risk. Important issues whether linked to disclosures, vulnerable customers or unclear customer journeys can easily be missed, meaning outcomes can fall short of expectations.\n\nCrucially, \u201crandomly sampling can mean key issues get missed and outcomes stray far from ideal.\u201d\n\nScaling review is essential but doing so effectively requires more than simply introducing generic AI capabilities.\n\nFrom anecdotes to evidence: where predictive AI matters\n\nA key shift is the move from isolated examples to consistent, evidence-based oversight. Small samples may highlight issues, but they cannot prove patterns. As discussed\n\n\u201cSmall samples can spot anecdotes. They struggle to prove themes.\u201d\n\nThis is where the role of AI becomes more nuanced.\n\nWhile generative AI is often associated with summaries or outputs, the challenge here is different: firms need to identify, classify and prioritise risk across large volumes of interactions.\n\nThis is particularly important in the context of Consumer Duty, where firms are expected not just to monitor but to \u201cassess, test, understand and evidence the outcomes customers receive.\u201d\n\nFor Recordsure, this shift from sampling to evidencing outcomes is where scalable conversation review becomes critical.\n\nThe cost of hindsight and the need for ongoing insight\n\nAnother key risk is the cost of retrospective review. Where oversight is limited, remediation becomes increasingly complex\n\nWithout the ability to search, classify and prioritise historic evidence at scale, reviews become \u201cslower, costlier, and harder to defend.\u201d\n\nThis underlines the importance of continuous visibility.\n\nAs Adrian Crean Strategic Partnerships Director at Recordsure notes: \u201cMake sure you\u2019re doing this ongoing so there are no surprises.\u201d\n\nAchieving this continuous, proactive view again depends on applying the right AI capabilities. Simply generating outputs is not enough firms need to anticipate and identify risk as it emerges.\n\nThis is another example of how predictive AI and generative AI solve different problems.\n\nWhat AI actually changes (and what it doesn\u2019t)\n\nAI alone does not solve a common misconception: that AI alone solves the problem.\n\nIn reality, the objective is not technology for its own sake, but better visibility and stronger evidence.\n\nTo achieve stronger outcomes, better visibility of conduct risk and greater regulatory confidence, firms need the ability to review far more conversations than manual teams can manage alone.\n\nBut scaling review requires clarity on capability\n\n\u2022 Generative AI may help summarise or present information\n\n\u2022 Predictive AI enables firms to analyse large datasets, detect risk, and prioritise action\n\nThe distinction matters because the goal is not just to \u2018review more\u2019 but to review more effectively and defensibly.\n\nBuilding a complete view of customer outcomes\n\nThe Mailock discussion highlights a broader shift taking place across financial services.\n\nThe goal is not simply to review more conversations, but to build a more complete, evidence-based understanding of customer outcomes one that stands up to both internal scrutiny and regulatory expectations.\n\nFor Recordsure, this means firms need to:\n\n\u2022 Increase visibility across all customer interactions\n\n\u2022 Identify conduct risk earlier\n\n\u2022 Provide defensible evidence of good outcomes\n\n\u2022 Reduce the cost and complexity of remediation\n\nThis is not achievable through sampling alone and not achievable through generic AI approaches.\n\nIt requires a clear understanding that predictive AI enables insight and risk detection, while generative AI supports presentation and interpretation.\n\nClosing perspective\n\nAs regulatory expectations continue to evolve, particularly under the FCA\u2019s Consumer Duty, firms are under increasing pressure to evidence customer outcomes at scale.\n\nThe message is clear:\n\n\u2022 Sampling is no longer sufficient\n\n\u2022 Reviewing more conversations is essential\n\n\u2022 And critically, using the right type of AI is what makes that scale meaningful\n\nBecause ultimately, predictive AI and generative AI solve different problems \u2013 and knowing when and how to use each is key to delivering better customer outcomes and defensible oversight.", "wordCount": 792, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-8" } ], "about": [ { "@type": "Thing", "name": "AI conversation review" } ], "citation": [ { "@type": "CreativeWork", "name": "Mailock", "url": "https://www.beyondencryption.com/" }, { "@type": "CreativeWork", "name": "Podcast discussion with Mailock", "url": "https://www.beyondencryption.com/blog/ai-review-more-conversations" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "text": "A Recordsure perspective, in partnership withMailock.\n\nIn a recent podcast discussion with Mailock (Beyond Encryption), a central theme emerged for regulated firms: how to move beyond limited sampling and build a clearer, defensible understanding of customer outcomes.\n\nAt the heart of this shift is not just the use of AI but the right use of AI.\n\nAs the discussion makes clear, different types of AI play different roles. In practice, predictive AI and generative AI solve different problems, and understanding that distinction is critical if firms are to scale their oversight effectively." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "Why sampling is no longer enough", "text": "Traditional oversight has a fundamental gap in traditional oversight approaches. While sampling can surface individual issues, it is not designed to provide a complete or defensible view of customer outcomes at scale.\n\nMany firms continue to review \u201conly a small fraction of calls, files, and customer interactions\u201d despite increasing regulatory expectations.\n\nThis creates risk. Important issues whether linked to disclosures, vulnerable customers or unclear customer journeys can easily be missed, meaning outcomes can fall short of expectations.\n\nCrucially, \u201crandomly sampling can mean key issues get missed and outcomes stray far from ideal.\u201d\n\nScaling review is essential but doing so effectively requires more than simply introducing generic AI capabilities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "From anecdotes to evidence: where predictive AI matters", "text": "A key shift is the move from isolated examples to consistent, evidence-based oversight. Small samples may highlight issues, but they cannot prove patterns. As discussed" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "\u201cSmall samples can spot anecdotes. They struggle to prove themes.\u201d", "text": "This is where the role of AI becomes more nuanced.\n\nWhile generative AI is often associated with summaries or outputs, the challenge here is different: firms need to identify, classify and prioritise risk across large volumes of interactions.\n\nThis is particularly important in the context of Consumer Duty, where firms are expected not just to monitor but to \u201cassess, test, understand and evidence the outcomes customers receive.\u201d\n\nFor Recordsure, this shift from sampling to evidencing outcomes is where scalable conversation review becomes critical." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "The cost of hindsight and the need for ongoing insight", "text": "Another key risk is the cost of retrospective review. Where oversight is limited, remediation becomes increasingly complex\n\nWithout the ability to search, classify and prioritise historic evidence at scale, reviews become \u201cslower, costlier, and harder to defend.\u201d\n\nThis underlines the importance of continuous visibility.\n\nAs Adrian Crean Strategic Partnerships Director at Recordsure notes: \u201cMake sure you\u2019re doing this ongoing so there are no surprises.\u201d\n\nAchieving this continuous, proactive view again depends on applying the right AI capabilities. Simply generating outputs is not enough firms need to anticipate and identify risk as it emerges.\n\nThis is another example of how predictive AI and generative AI solve different problems." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "What AI actually changes (and what it doesn\u2019t)", "text": "AI alone does not solve a common misconception: that AI alone solves the problem.\n\nIn reality, the objective is not technology for its own sake, but better visibility and stronger evidence.\n\nTo achieve stronger outcomes, better visibility of conduct risk and greater regulatory confidence, firms need the ability to review far more conversations than manual teams can manage alone.\n\nBut scaling review requires clarity on capability\n\n\u2022 Generative AI may help summarise or present information\n\n\u2022 Predictive AI enables firms to analyse large datasets, detect risk, and prioritise action\n\nThe distinction matters because the goal is not just to \u2018review more\u2019 but to review more effectively and defensibly." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "Building a complete view of customer outcomes", "text": "The Mailock discussion highlights a broader shift taking place across financial services.\n\nThe goal is not simply to review more conversations, but to build a more complete, evidence-based understanding of customer outcomes one that stands up to both internal scrutiny and regulatory expectations.\n\nFor Recordsure, this means firms need to:\n\n\u2022 Increase visibility across all customer interactions\n\n\u2022 Identify conduct risk earlier\n\n\u2022 Provide defensible evidence of good outcomes\n\n\u2022 Reduce the cost and complexity of remediation\n\nThis is not achievable through sampling alone and not achievable through generic AI approaches.\n\nIt requires a clear understanding that predictive AI enables insight and risk detection, while generative AI supports presentation and interpretation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "headline": "Closing perspective", "text": "As regulatory expectations continue to evolve, particularly under the FCA\u2019s Consumer Duty, firms are under increasing pressure to evidence customer outcomes at scale.\n\nThe message is clear:\n\n\u2022 Sampling is no longer sufficient\n\n\u2022 Reviewing more conversations is essential\n\n\u2022 And critically, using the right type of AI is what makes that scale meaningful\n\nBecause ultimately, predictive AI and generative AI solve different problems \u2013 and knowing when and how to use each is key to delivering better customer outcomes and defensible oversight." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-sampling-to-scale-why-reviewing-more-conversations-requires-the-right-ai-approach/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is sampling no longer enough?", "acceptedAnswer": { "@type": "Answer", "text": "Sampling can miss issues and cannot provide a complete or defensible view of customer outcomes at scale." } }, { "@type": "Question", "name": "How does predictive AI differ from generative AI?", "acceptedAnswer": { "@type": "Answer", "text": "Predictive AI analyses large datasets and detects risk; generative AI may summarise or present information." } }, { "@type": "Question", "name": "What does continuous visibility provide?", "acceptedAnswer": { "@type": "Answer", "text": "It helps firms avoid surprises and makes historic evidence easier to search, classify and prioritise." } } ] } ] } ``` ### A-Team Insight: AI in financial services where the real challenges are starting to emerge - URL: https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/ - Published: 2026-05-21 - Modified: 2026-10-09 **Topic:** AI governance AI in financial services is moving from adoption to control. Firms need evidence of outcomes, accountability and governance once AI operates at scale. #### Key points - AI is already used in onboarding, fraud detection and customer interaction. - The harder challenge is proving governance and control as systems become more complex. - Regulators are applying existing frameworks such as Consumer Duty and SM&CR to AI at scale. - Post-deployment scrutiny focuses on fairness, explainability and day-to-day accountability. AI adoption in financial services is entering a more complex and demanding phase. AI is now embedded across areas such as onboarding, fraud detection and customer interaction. The real challenge is no longer adoption but governance. Many firms are still relying on control frameworks designed for more deterministic systems, where decisions could be easily traced and challenged. #### Governance after adoption As AI becomes more complex and embedded, maintaining transparency, oversight and accountability is becoming significantly harder. Regulators, including the FCA, are not introducing entirely new regimes but are increasingly focused on how existing frameworks, such as Consumer Duty and SM&CR, are applied in practice when AI is operating at scale. The emphasis has shifted to evidencing outcomes, demonstrating control and maintaining accountability. #### Post-deployment scrutiny The pressure tends to emerge post-deployment, once AI systems are live and integral to business processes. At that point, questions of fairness, explainability and governance move quickly from theory to day-to-day scrutiny. > The challenge with AI is no longer about adoption but about control. As systems become more complex and embedded, firms need to be able to evidence outcomes, maintain accountability and demonstrate that their risk and governance frameworks still work in practice. #### Supporting sources - [A-Team Insight](https://www.getdbt.com/industry/financial-services) - [AI in financial services: where the real challenges are starting to emerge](https://a-teaminsight.com/blog/ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "A-Team Insight: AI in financial services where the real challenges are starting to emerge", "item": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage", "url": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/", "name": "A-Team Insight: AI in financial services where the real challenges are starting to emerge", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-05-21T14:25:21+01:00", "dateModified": "2026-05-21T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-05-21" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "A-Team Insight: AI in financial services where the real challenges are starting to emerge", "datePublished": "2026-05-21T14:25:21+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ede240bfef034ff6ba8f4b4b54a8034f/thumbnail-1024-ca49990c51da6f27cb9ed17e7bb74777f7af0c54bc576f842663699434268d7e.jpg", "description": "AI governance, oversight and accountability are becoming harder as financial services firms move beyond adoption and embed AI in day-to-day decisions.", "inLanguage": "en-GB", "articleBody": "AI in financial services is moving from adoption to control. Firms need evidence of outcomes, accountability and governance once AI operates at scale.\n\nAI adoption in financial services is entering a more complex and demanding phase.\n\nAI is now embedded across areas such as onboarding, fraud detection and customer interaction. The real challenge is no longer adoption but governance. Many firms are still relying on control frameworks designed for more deterministic systems, where decisions could be easily traced and challenged.\n\nGovernance after adoption\n\nAs AI becomes more complex and embedded, maintaining transparency, oversight and accountability is becoming significantly harder. Regulators, including the FCA, are not introducing entirely new regimes but are increasingly focused on how existing frameworks, such as Consumer Duty and SM&CR, are applied in practice when AI is operating at scale.\n\nThe emphasis has shifted to evidencing outcomes, demonstrating control and maintaining accountability.\n\nPost-deployment scrutiny\n\nThe pressure tends to emerge post-deployment, once AI systems are live and integral to business processes. At that point, questions of fairness, explainability and governance move quickly from theory to day-to-day scrutiny.\n\nThe challenge with AI is no longer about adoption but about control. As systems become more complex and embedded, firms need to be able to evidence outcomes, maintain accountability and demonstrate that their risk and governance frameworks still work in practice.", "wordCount": 220, "hasPart": [ { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-3" } ], "about": [ { "@type": "Thing", "name": "AI governance" } ], "citation": [ { "@type": "CreativeWork", "name": "A-Team Insight", "url": "https://www.getdbt.com/industry/financial-services" }, { "@type": "CreativeWork", "name": "AI in financial services: where the real challenges are starting to emerge", "url": "https://a-teaminsight.com/blog/ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "inLanguage": "en-GB", "text": "AI adoption in financial services is entering a more complex and demanding phase.\n\nAI is now embedded across areas such as onboarding, fraud detection and customer interaction. The real challenge is no longer adoption but governance. Many firms are still relying on control frameworks designed for more deterministic systems, where decisions could be easily traced and challenged." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "inLanguage": "en-GB", "headline": "Governance after adoption", "text": "As AI becomes more complex and embedded, maintaining transparency, oversight and accountability is becoming significantly harder. Regulators, including the FCA, are not introducing entirely new regimes but are increasingly focused on how existing frameworks, such as Consumer Duty and SM&CR, are applied in practice when AI is operating at scale.\n\nThe emphasis has shifted to evidencing outcomes, demonstrating control and maintaining accountability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "inLanguage": "en-GB", "headline": "Post-deployment scrutiny", "text": "The pressure tends to emerge post-deployment, once AI systems are live and integral to business processes. At that point, questions of fairness, explainability and governance move quickly from theory to day-to-day scrutiny.\n\nThe challenge with AI is no longer about adoption but about control. As systems become more complex and embedded, firms need to be able to evidence outcomes, maintain accountability and demonstrate that their risk and governance frameworks still work in practice." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/a-team-insight-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is the main AI challenge?", "acceptedAnswer": { "@type": "Answer", "text": "The challenge is no longer adoption alone, but maintaining governance, transparency, oversight and accountability as AI becomes embedded." } }, { "@type": "Question", "name": "How are regulators approaching AI in financial services?", "acceptedAnswer": { "@type": "Answer", "text": "Regulators, including the FCA, are focusing on how existing frameworks such as Consumer Duty and SM&CR apply when AI operates at scale." } }, { "@type": "Question", "name": "When does pressure on AI governance tend to emerge?", "acceptedAnswer": { "@type": "Answer", "text": "The pressure tends to emerge after deployment, once AI systems are live and integral to business processes." } } ] } ] } ``` ### IFA: The FCA’s Consumer Duty challenge is changing shape - URL: https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/ - Published: 2026-05-20 - Modified: 2026-10-09 **Topic:** Consumer Duty evidence The FCA’s Consumer Duty expectations are shifting from implementation progress to evidencing customer outcomes. Firms need monitoring, data analysis and auditability that withstand scrutiny. #### Key points - Consumer Duty oversight is moving towards evidence of customer outcomes. - Management information alone is no longer enough. - Firms must interpret and validate what their data shows about understanding, support and value. - Audit trails and decision-making evidence are becoming more important. - Boards need to move from process reporting into judgement. Recently featured in IFA Magazine, Joe Norburn, CEO at TCC Group ([TCC](https://tcc.group/), [Recordsure](/) and [Momenta](https://momentagroup.com/)), outlined how the FCA’s expectations under the Consumer Duty are evolving. The FCA is shifting towards evidencing customer outcomes rather than simply reporting on implementation progress. As firms enter a more mature phase of oversight, monitoring, data analysis and auditability are becoming critical to demonstrate that outcomes can withstand regulatory scrutiny. #### From management information to defensible insight Management information alone is no longer sufficient. Firms must be able to interpret and validate what their data is showing about customer understanding, support and value, and respond effectively when risks emerge. This places increasing importance on consistent oversight, clear audit trails and the ability to evidence decision-making. The Consumer Duty needs to be supported by tangible, defensible insight into customer outcomes. Joe commented: “The next phase of the FCA’s Consumer Duty isn’t about what firms say they’re doing but about what they can evidence. Boards are being asked to move beyond process and into judgement, where demonstrating good outcomes is far more complex than simply reporting activity.” #### Supporting sources - [IFA Magazine](https://ifamagazine.com/the-fcas-consumer-duty-challenge-is-changing-shape/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "IFA: The FCA\u2019s Consumer Duty challenge is changing shape", "item": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage", "url": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/", "name": "IFA: The FCA\u2019s Consumer Duty challenge is changing shape", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-05-20T08:39:06+01:00", "dateModified": "2026-05-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-05-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "IFA: The FCA\u2019s Consumer Duty challenge is changing shape", "datePublished": "2026-05-20T08:39:06+01:00", "dateModified": "2026-10-09T04:50:28+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bc151fa8dfd14bbdad565e56f8b61658/thumbnail-1024-4f68dc2102e62c96fc899aff64107a70575e7457ac466ed2170650dbbce01c05.jpg", "description": "The next phase of Consumer Duty oversight depends on evidence, audit trails and data-led judgement.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s Consumer Duty expectations are shifting from implementation progress to evidencing customer outcomes. Firms need monitoring, data analysis and auditability that withstand scrutiny.\n\nRecently featured in IFA Magazine, Joe Norburn, CEO at TCC Group (TCC, Recordsure and Momenta), outlined how the FCA\u2019s expectations under the Consumer Duty are evolving.\n\nThe FCA is shifting towards evidencing customer outcomes rather than simply reporting on implementation progress. As firms enter a more mature phase of oversight, monitoring, data analysis and auditability are becoming critical to demonstrate that outcomes can withstand regulatory scrutiny.\n\nFrom management information to defensible insight\n\nManagement information alone is no longer sufficient. Firms must be able to interpret and validate what their data is showing about customer understanding, support and value, and respond effectively when risks emerge.\n\nThis places increasing importance on consistent oversight, clear audit trails and the ability to evidence decision-making. The Consumer Duty needs to be supported by tangible, defensible insight into customer outcomes.\n\nJoe commented: \u201cThe next phase of the FCA\u2019s Consumer Duty isn\u2019t about what firms say they\u2019re doing but about what they can evidence. Boards are being asked to move beyond process and into judgement, where demonstrating good outcomes is far more complex than simply reporting activity.\u201d", "wordCount": 204, "hasPart": [ { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "Consumer Duty evidence" } ], "citation": [ { "@type": "CreativeWork", "name": "IFA Magazine", "url": "https://ifamagazine.com/the-fcas-consumer-duty-challenge-is-changing-shape/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage" }, "inLanguage": "en-GB", "text": "Recently featured in IFA Magazine, Joe Norburn, CEO at TCC Group (TCC, Recordsure and Momenta), outlined how the FCA\u2019s expectations under the Consumer Duty are evolving.\n\nThe FCA is shifting towards evidencing customer outcomes rather than simply reporting on implementation progress. As firms enter a more mature phase of oversight, monitoring, data analysis and auditability are becoming critical to demonstrate that outcomes can withstand regulatory scrutiny." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage" }, "inLanguage": "en-GB", "headline": "From management information to defensible insight", "text": "Management information alone is no longer sufficient. Firms must be able to interpret and validate what their data is showing about customer understanding, support and value, and respond effectively when risks emerge.\n\nThis places increasing importance on consistent oversight, clear audit trails and the ability to evidence decision-making. The Consumer Duty needs to be supported by tangible, defensible insight into customer outcomes.\n\nJoe commented: \u201cThe next phase of the FCA\u2019s Consumer Duty isn\u2019t about what firms say they\u2019re doing but about what they can evidence. Boards are being asked to move beyond process and into judgement, where demonstrating good outcomes is far more complex than simply reporting activity.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-the-fcas-consumer-duty-challenge-is-changing-shape/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How are the FCA\u2019s Consumer Duty expectations evolving?", "acceptedAnswer": { "@type": "Answer", "text": "Expectations are shifting towards evidencing customer outcomes rather than simply reporting implementation progress." } }, { "@type": "Question", "name": "Why is management information alone not sufficient?", "acceptedAnswer": { "@type": "Answer", "text": "Firms must interpret and validate what their data shows about customer understanding, support and value, and respond when risks emerge." } }, { "@type": "Question", "name": "What does Joe Norburn say boards need to do?", "acceptedAnswer": { "@type": "Answer", "text": "He says boards need to move beyond process and into judgement, evidencing good outcomes rather than simply reporting activity." } } ] } ] } ``` ### FCA ongoing advice rules: what firms need to evidence and how AI can help - URL: https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/ - Published: 2026-05-19 - Modified: 2026-10-09 **Topic:** Ongoing advice rules The FCA is asking tougher questions about whether ongoing advice services are delivered consistently and represent fair value. Firms need oversight, evidence and technology that show services remain appropriate over time. #### Key points - Ongoing advice is central to many firms’ client relationships and revenue, but the FCA wants stronger proof of delivery. - The focus is moving from completed processes to evidence that services remain appropriate, valuable and aligned to client needs. - CP26/10 proposes replacing mandatory annual suitability reviews with a more flexible, client-needs-based approach. - Recordsure helps monitor ongoing advice activity, spot missing evidence, flag delivery gaps and create clearer audit trails. Ongoing advice is firmly in the FCA spotlight. A mix of [supervisory work](https://www.fca.org.uk/data/understanding-financial-advice-market), [Consumer Duty](https://www.fca.org.uk/firms/consumer-duty) expectations and broader advice reform means firms are facing closer scrutiny, especially on whether services are delivered consistently and whether they can prove it. For many firms, ongoing advice is central to both client relationships and revenue. The FCA is not challenging the model itself, but it is asking tougher questions about oversight, consistency, value and how quickly firms can retrieve the right evidence when needed. Ongoing advice is no longer a supporting component of the proposition. For a large proportion of firms, it is the model. #### Ongoing advice compliance: moving beyond process to oversight At the centre of this is a move away from activity-led thinking towards a stronger focus on oversight. Historically, much of the emphasis has been on whether key processes have been completed, particularly reviews. Now the question is broader: can firms demonstrate that the service they have defined is actually being delivered and continues to meet client needs? This is where things often become unclear. Services may be well defined at the outset but oversight can become patchy over time. Management information, quality assurance and monitoring do not always join up, especially where firms still rely on manual checks and fragmented records. #### How firms can evidence fair value in ongoing advice This links directly to how firms define their ongoing service. The FCA has been clear that services should be specific, structured and designed for a clear target market. Firms need to evidence this not just through documentation but through an ongoing demonstration that the service is being delivered as intended, remains appropriate and represents fair value. It is no longer enough to show that a service exists or that a fee is being charged. Firms need to show: - how the service works in practice - who it is helping - whether the records make that clear when challenged. #### Suitability reviews and the shift to a more flexible advice model One of the most visible areas of change is around suitability reviews. Annual reviews have long been the cornerstone of ongoing advice, often acting as the primary mechanism for both delivery and evidence. For many firms, completion of that review has been treated as confirmation that the service requirement has been met. The [FCA’s CP26/10 consultation](https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules) proposes replacing the mandatory annual suitability review requirement with a more flexible, periodic approach based on client needs and circumstances. This is not simply a technical change. It signals a broader shift in how ongoing advice is expected to operate. Rather than relying on a fixed annual cycle, firms will be expected to determine when engagement is appropriate based on the client’s situation, the complexity of their arrangements and how their circumstances evolve over time. If the annual review is no longer the anchor, firms need to look back to service design: when clients are engaged, what triggers contact and how firms measure whether that contact is delivering value. #### Disengaged clients: a growing ongoing advice risk Alongside this, the FCA has continued to [highlight the issue of disengaged clients](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services). Not all clients actively use ongoing services even when they are paying for them. That creates a clear risk. For instance, if engagement is low, it becomes more difficult to demonstrate that services are being delivered in a meaningful way and whether they represent fair value. The point is not that every client must engage all the time. It is that firms should know where disengagement exists and respond appropriately through re-engagement, service changes or, in some cases, reassessing whether the arrangement is still right. #### Consumer Duty and the move to outcome-led ongoing advice Taken together, these developments point to a more outcome-led model of ongoing advice: moving away from evidence that something has been done and towards demonstrating that it has made a difference. This is closely aligned with the Consumer Duty, which emphasises good outcomes rather than completed activity. For firms, this does not necessarily mean a complete redesign of their operating model. In most cases, the foundations are already there. The challenge is to strengthen how those models are governed, monitored and evidenced, without creating an unsustainable manual burden for compliance and advisory teams. #### Why AI is becoming essential for ongoing advice oversight In practice, that means checking whether services are clearly defined, delivered consistently and backed by management information that reflects reality. It also means making sure review cycles and engagement models are built around client needs, not internal habits. The thread running through all of this is simple: firms need to be better at showing that their ongoing advice model works. For many, smarter use of technology, automation and AI can take much of the manual effort out of oversight. For some organisations this may be a natural extension of what is already in place; for others, it will require a more fundamental rethink of how ongoing services are structured, monitored and overseen. Ongoing advice is no longer just about keeping in touch or completing an annual process. It is about being able to show, clearly and consistently, that the service is still delivering value. Recordsure helps firms monitor ongoing advice activity, spot missing evidence, flag delivery gaps and create a clearer audit trail across reviews and client interactions. The result is less time spent hunting through records and more confidence that oversight stands up when it matters. #### Supporting sources - [FCA understanding the financial advice market](https://www.fca.org.uk/data/understanding-financial-advice-market) - [FCA Consumer Duty](https://www.fca.org.uk/firms/consumer-duty) - [FCA CP26/10 consultation](https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules) - [FCA multi-firm review of ongoing financial advice services](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA ongoing advice rules: what firms need to evidence and how AI can help", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/", "name": "FCA ongoing advice rules: what firms need to evidence and how AI can help", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-05-19T10:01:14+01:00", "dateModified": "2026-05-19T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-05-19" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA ongoing advice rules: what firms need to evidence and how AI can help", "datePublished": "2026-05-19T10:01:14+01:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9c91390ca401435d8911657e5e90bd11/thumbnail-1024-09576e8ab6c89161da3028339c94cc7f947eabad3e0eeb6d7783a5e49d98965f.jpg", "description": "Ongoing advice is under closer FCA scrutiny, requiring firms to evidence service delivery, fair value, review triggers and client outcomes without unsustainable manual effort.", "inLanguage": "en-GB", "articleBody": "The FCA is asking tougher questions about whether ongoing advice services are delivered consistently and represent fair value. Firms need oversight, evidence and technology that show services remain appropriate over time.\n\nOngoing advice is firmly in the FCA spotlight. A mix of supervisory work, Consumer Duty expectations and broader advice reform means firms are facing closer scrutiny, especially on whether services are delivered consistently and whether they can prove it.\n\nFor many firms, ongoing advice is central to both client relationships and revenue. The FCA is not challenging the model itself, but it is asking tougher questions about oversight, consistency, value and how quickly firms can retrieve the right evidence when needed.\n\nOngoing advice is no longer a supporting component of the proposition. For a large proportion of firms, it is the model.\n\nOngoing advice compliance: moving beyond process to oversight\n\nAt the centre of this is a move away from activity-led thinking towards a stronger focus on oversight. Historically, much of the emphasis has been on whether key processes have been completed, particularly reviews.\n\nNow the question is broader: can firms demonstrate that the service they have defined is actually being delivered and continues to meet client needs?\n\nThis is where things often become unclear. Services may be well defined at the outset but oversight can become patchy over time. Management information, quality assurance and monitoring do not always join up, especially where firms still rely on manual checks and fragmented records.\n\nHow firms can evidence fair value in ongoing advice\n\nThis links directly to how firms define their ongoing service. The FCA has been clear that services should be specific, structured and designed for a clear target market. Firms need to evidence this not just through documentation but through an ongoing demonstration that the service is being delivered as intended, remains appropriate and represents fair value.\n\nIt is no longer enough to show that a service exists or that a fee is being charged. Firms need to show:\n\n\u2022 how the service works in practice\n\u2022 who it is helping\n\u2022 whether the records make that clear when challenged.\n\nSuitability reviews and the shift to a more flexible advice model\n\nOne of the most visible areas of change is around suitability reviews. Annual reviews have long been the cornerstone of ongoing advice, often acting as the primary mechanism for both delivery and evidence. For many firms, completion of that review has been treated as confirmation that the service requirement has been met.\n\nThe FCA\u2019s CP26/10 consultation proposes replacing the mandatory annual suitability review requirement with a more flexible, periodic approach based on client needs and circumstances.\n\nThis is not simply a technical change. It signals a broader shift in how ongoing advice is expected to operate. Rather than relying on a fixed annual cycle, firms will be expected to determine when engagement is appropriate based on the client\u2019s situation, the complexity of their arrangements and how their circumstances evolve over time.\n\nIf the annual review is no longer the anchor, firms need to look back to service design: when clients are engaged, what triggers contact and how firms measure whether that contact is delivering value.\n\nDisengaged clients: a growing ongoing advice risk\n\nAlongside this, the FCA has continued to highlight the issue of disengaged clients. Not all clients actively use ongoing services even when they are paying for them. That creates a clear risk. For instance, if engagement is low, it becomes more difficult to demonstrate that services are being delivered in a meaningful way and whether they represent fair value.\n\nThe point is not that every client must engage all the time. It is that firms should know where disengagement exists and respond appropriately through re-engagement, service changes or, in some cases, reassessing whether the arrangement is still right.\n\nConsumer Duty and the move to outcome-led ongoing advice\n\nTaken together, these developments point to a more outcome-led model of ongoing advice: moving away from evidence that something has been done and towards demonstrating that it has made a difference. This is closely aligned with the Consumer Duty, which emphasises good outcomes rather than completed activity.\n\nFor firms, this does not necessarily mean a complete redesign of their operating model. In most cases, the foundations are already there. The challenge is to strengthen how those models are governed, monitored and evidenced, without creating an unsustainable manual burden for compliance and advisory teams.\n\nWhy AI is becoming essential for ongoing advice oversight\n\nIn practice, that means checking whether services are clearly defined, delivered consistently and backed by management information that reflects reality. It also means making sure review cycles and engagement models are built around client needs, not internal habits.\n\nThe thread running through all of this is simple: firms need to be better at showing that their ongoing advice model works. For many, smarter use of technology, automation and AI can take much of the manual effort out of oversight. For some organisations this may be a natural extension of what is already in place; for others, it will require a more fundamental rethink of how ongoing services are structured, monitored and overseen.\n\nOngoing advice is no longer just about keeping in touch or completing an annual process. It is about being able to show, clearly and consistently, that the service is still delivering value.\n\nRecordsure helps firms monitor ongoing advice activity, spot missing evidence, flag delivery gaps and create a clearer audit trail across reviews and client interactions. The result is less time spent hunting through records and more confidence that oversight stands up when it matters.", "wordCount": 930, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice rules" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-7" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA understanding the financial advice market", "url": "https://www.fca.org.uk/data/understanding-financial-advice-market" }, { "@type": "CreativeWork", "name": "FCA Consumer Duty", "url": "https://www.fca.org.uk/firms/consumer-duty" }, { "@type": "CreativeWork", "name": "FCA CP26/10 consultation", "url": "https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules" }, { "@type": "CreativeWork", "name": "FCA multi-firm review of ongoing financial advice services", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "text": "Ongoing advice is firmly in the FCA spotlight. A mix of supervisory work, Consumer Duty expectations and broader advice reform means firms are facing closer scrutiny, especially on whether services are delivered consistently and whether they can prove it.\n\nFor many firms, ongoing advice is central to both client relationships and revenue. The FCA is not challenging the model itself, but it is asking tougher questions about oversight, consistency, value and how quickly firms can retrieve the right evidence when needed.\n\nOngoing advice is no longer a supporting component of the proposition. For a large proportion of firms, it is the model." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "headline": "Ongoing advice compliance: moving beyond process to oversight", "text": "At the centre of this is a move away from activity-led thinking towards a stronger focus on oversight. Historically, much of the emphasis has been on whether key processes have been completed, particularly reviews.\n\nNow the question is broader: can firms demonstrate that the service they have defined is actually being delivered and continues to meet client needs?\n\nThis is where things often become unclear. Services may be well defined at the outset but oversight can become patchy over time. Management information, quality assurance and monitoring do not always join up, especially where firms still rely on manual checks and fragmented records." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "headline": "How firms can evidence fair value in ongoing advice", "text": "This links directly to how firms define their ongoing service. The FCA has been clear that services should be specific, structured and designed for a clear target market. Firms need to evidence this not just through documentation but through an ongoing demonstration that the service is being delivered as intended, remains appropriate and represents fair value.\n\nIt is no longer enough to show that a service exists or that a fee is being charged. Firms need to show:\n\n\u2022 how the service works in practice\n\u2022 who it is helping\n\u2022 whether the records make that clear when challenged." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "headline": "Suitability reviews and the shift to a more flexible advice model", "text": "One of the most visible areas of change is around suitability reviews. Annual reviews have long been the cornerstone of ongoing advice, often acting as the primary mechanism for both delivery and evidence. For many firms, completion of that review has been treated as confirmation that the service requirement has been met.\n\nThe FCA\u2019s CP26/10 consultation proposes replacing the mandatory annual suitability review requirement with a more flexible, periodic approach based on client needs and circumstances.\n\nThis is not simply a technical change. It signals a broader shift in how ongoing advice is expected to operate. Rather than relying on a fixed annual cycle, firms will be expected to determine when engagement is appropriate based on the client\u2019s situation, the complexity of their arrangements and how their circumstances evolve over time.\n\nIf the annual review is no longer the anchor, firms need to look back to service design: when clients are engaged, what triggers contact and how firms measure whether that contact is delivering value." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "headline": "Disengaged clients: a growing ongoing advice risk", "text": "Alongside this, the FCA has continued to highlight the issue of disengaged clients. Not all clients actively use ongoing services even when they are paying for them. That creates a clear risk. For instance, if engagement is low, it becomes more difficult to demonstrate that services are being delivered in a meaningful way and whether they represent fair value.\n\nThe point is not that every client must engage all the time. 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This is closely aligned with the Consumer Duty, which emphasises good outcomes rather than completed activity.\n\nFor firms, this does not necessarily mean a complete redesign of their operating model. In most cases, the foundations are already there. 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It also means making sure review cycles and engagement models are built around client needs, not internal habits.\n\nThe thread running through all of this is simple: firms need to be better at showing that their ongoing advice model works. For many, smarter use of technology, automation and AI can take much of the manual effort out of oversight. For some organisations this may be a natural extension of what is already in place; for others, it will require a more fundamental rethink of how ongoing services are structured, monitored and overseen.\n\nOngoing advice is no longer just about keeping in touch or completing an annual process. It is about being able to show, clearly and consistently, that the service is still delivering value.\n\nRecordsure helps firms monitor ongoing advice activity, spot missing evidence, flag delivery gaps and create a clearer audit trail across reviews and client interactions. The result is less time spent hunting through records and more confidence that oversight stands up when it matters." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-rules-what-firms-need-to-evidence-and-how-ai-can-help/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is ongoing advice under FCA scrutiny?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is asking whether ongoing advice services are delivered consistently, represent fair value and can be evidenced when challenged." } }, { "@type": "Question", "name": "What does CP26/10 propose?", "acceptedAnswer": { "@type": "Answer", "text": "CP26/10 proposes replacing mandatory annual suitability reviews with a more flexible, periodic approach based on client needs and circumstances." } }, { "@type": "Question", "name": "Why are disengaged clients a risk?", "acceptedAnswer": { "@type": "Answer", "text": "If clients pay for ongoing services but do not use them, firms may struggle to demonstrate meaningful delivery and fair value." } }, { "@type": "Question", "name": "How can Recordsure help?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure can monitor ongoing advice activity, identify missing evidence, flag delivery gaps and create clearer audit trails across reviews and client interactions." } } ] } ] } ``` ### European Business Magazine: Finance is scaling AI fast — now it has to prove it’s under control - URL: https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/ - Published: 2026-05-08 - Modified: 2026-10-09 **Topic:** AI control Financial services firms need to prove control as they scale AI. Data quality, explainability, auditability and accountability are central to safe automation. #### Key points - Financial services firms are rapidly adopting AI across core operations. - Efficiency and commercial pressure are driving adoption ahead of regulatory certainty. - Firms must prove oversight, accountability and governance as AI enters decision-making. - Structured data and purpose-built predictive AI are needed for regulated decisions. Joe Norburn, CEO at TCC Group, said financial services firms are rapidly adopting AI across core operations, driven by efficiency and commercial pressure rather than regulatory certainty. While regulators such as the FCA support innovation, firms are increasingly expected to prove they can maintain oversight, accountability and governance as AI becomes embedded in decision-making. #### Data, explainability and auditability Joe Norburn said the biggest challenge is not AI capability, but ensuring the quality, explainability and auditability of the underlying data. Generative AI alone is not suitable for regulated financial decisions, and firms will need trusted, structured data combined with purpose-built predictive AI to scale automation safely while meeting growing regulatory expectations. > Regulators are not asking firms to pause innovation, but they are increasingly focused on how outcomes are evidenced, how risks are identified and mitigated, and how accountability is maintained once AI is operating at scale. Joe Norburn, CEO, TCC Group #### Supporting sources - [Finance is scaling AI fast — now it has to prove it’s under control](https://europeanbusinessmagazine.com/business-finance-scaling-ai-control) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "European Business Magazine: Finance is scaling AI fast \u2014 now it has to prove it\u2019s under control", "item": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage", "url": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/", "name": "European Business Magazine: Finance is scaling AI fast \u2014 now it has to prove it\u2019s under control", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-05-08T12:49:55+01:00", "dateModified": "2026-05-08T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-05-08" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "European Business Magazine: Finance is scaling AI fast \u2014 now it has to prove it\u2019s under control", "datePublished": "2026-05-08T12:49:55+01:00", "dateModified": "2026-10-09T04:50:27+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/24e808484f3443d68a546505a1260add/thumbnail-1600-37ada015c10386669cb76ad9fdc57c269ee76e79bb249b4f3604342ab63df4e4.jpg", "description": "Financial services firms must evidence control, accountability and governance as AI becomes embedded in regulated decision-making.", "inLanguage": "en-GB", "articleBody": "Financial services firms need to prove control as they scale AI. Data quality, explainability, auditability and accountability are central to safe automation.\n\nJoe Norburn, CEO at TCC Group, said financial services firms are rapidly adopting AI across core operations, driven by efficiency and commercial pressure rather than regulatory certainty.\n\nWhile regulators such as the FCA support innovation, firms are increasingly expected to prove they can maintain oversight, accountability and governance as AI becomes embedded in decision-making.\n\nData, explainability and auditability\n\nJoe Norburn said the biggest challenge is not AI capability, but ensuring the quality, explainability and auditability of the underlying data. Generative AI alone is not suitable for regulated financial decisions, and firms will need trusted, structured data combined with purpose-built predictive AI to scale automation safely while meeting growing regulatory expectations.\n\nRegulators are not asking firms to pause innovation, but they are increasingly focused on how outcomes are evidenced, how risks are identified and mitigated, and how accountability is maintained once AI is operating at scale.\n\nJoe Norburn, CEO, TCC Group", "wordCount": 172, "hasPart": [ { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "AI control" } ], "citation": [ { "@type": "CreativeWork", "name": "Finance is scaling AI fast \u2014 now it has to prove it\u2019s under control", "url": "https://europeanbusinessmagazine.com/business-finance-scaling-ai-control" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage" }, "inLanguage": "en-GB", "text": "Joe Norburn, CEO at TCC Group, said financial services firms are rapidly adopting AI across core operations, driven by efficiency and commercial pressure rather than regulatory certainty.\n\nWhile regulators such as the FCA support innovation, firms are increasingly expected to prove they can maintain oversight, accountability and governance as AI becomes embedded in decision-making." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage" }, "inLanguage": "en-GB", "headline": "Data, explainability and auditability", "text": "Joe Norburn said the biggest challenge is not AI capability, but ensuring the quality, explainability and auditability of the underlying data. Generative AI alone is not suitable for regulated financial decisions, and firms will need trusted, structured data combined with purpose-built predictive AI to scale automation safely while meeting growing regulatory expectations.\n\nRegulators are not asking firms to pause innovation, but they are increasingly focused on how outcomes are evidenced, how risks are identified and mitigated, and how accountability is maintained once AI is operating at scale.\n\nJoe Norburn, CEO, TCC Group" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/european-business-magazine-finance-is-scaling-ai-fast-now-it-has-to-prove-its-under-control/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why are financial services firms scaling AI?", "acceptedAnswer": { "@type": "Answer", "text": "Adoption is driven by efficiency and commercial pressure rather than regulatory certainty." } }, { "@type": "Question", "name": "What are regulators increasingly expecting?", "acceptedAnswer": { "@type": "Answer", "text": "They expect firms to prove oversight, accountability and governance as AI becomes embedded in decision-making." } }, { "@type": "Question", "name": "What does Joe Norburn identify as the main challenge?", "acceptedAnswer": { "@type": "Answer", "text": "The main challenge is ensuring the quality, explainability and auditability of the underlying data." } } ] } ] } ``` ### Always Finance News: AI in financial services: where the real challenges are starting to emerge - URL: https://recordsure.com/insights/analysis-and-perspective/always-finance-news-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/ - Published: 2026-05-08 - Modified: 2026-10-09 **Topic:** AI data controls Joe Norburn’s Always Finance News comments show financial services moving from AI adoption to governance, accountability and reliable data. #### Key points - AI is widely embedded in financial services, including fraud detection, onboarding and credit assessments. - Regulators are increasing focus on governance, accountability and operational resilience. - Norburn says the main challenge is reliable, explainable and auditable underlying data. - Purpose-built AI on trusted structured data can support predictions, reporting and regulator-ready explanations. Recently featured in [Always Finance News](https://alwaysfinance.co.uk/2026/05/01/ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/), Joe Norburn, CEO at TCC Group, said AI is now widely embedded across financial services, from fraud detection to customer onboarding and credit assessments. While firms have adopted AI to improve efficiency and decision-making, regulators such as the FCA are increasing their focus on governance, accountability and operational resilience as AI becomes more deeply integrated into core processes. **Norburn said the main challenge is no longer adopting AI, but ensuring the underlying data is reliable, explainable and auditable.** He also noted that generative AI tools can process and summarise information effectively, but often struggle to meet regulatory expectations for traceability and oversight. As a result, firms are spending more time validating outputs and strengthening governance as the industry focus shifts from opportunity to control and accountability. By contrast, purpose-built AI models built on trusted, structured data are helping financial firms deliver more accurate predictions, reliable reporting and transparent insights that can be traced and explained to regulators. Norburn comments: > Inside firms, the conversation is shifting. Earlier discussions around AI focused heavily on opportunity. Those conversations have not disappeared, but they now sit alongside more practical concerns about control, governance and accountability. [Read the full article](https://alwaysfinance.co.uk/2026/05/01/ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/). #### Supporting sources - [Always Finance News article](https://alwaysfinance.co.uk/2026/05/01/ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { 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"https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/272b4285c8ad495a96adf47bbef1e527/thumbnail-1024-8c3df1cbeff5585bcb9635be836dd550dc8ea25717b180b9b74367a9dc95893e.jpg", "description": "Joe Norburn\u2019s Always Finance News comments focus on a shift from AI adoption to control, with reliable, explainable and auditable data becoming the main challenge.", "inLanguage": "en-GB", "articleBody": "Joe Norburn\u2019s Always Finance News comments show financial services moving from AI adoption to governance, accountability and reliable data.\n\nRecently featured in Always Finance News, Joe Norburn, CEO at TCC Group, said AI is now widely embedded across financial services, from fraud detection to customer onboarding and credit assessments.\n\nWhile firms have adopted AI to improve efficiency and decision-making, regulators such as the FCA are increasing their focus on governance, accountability and operational resilience as AI becomes more deeply integrated into core processes.\n\nNorburn said the main challenge is no longer adopting AI, but ensuring the underlying data is reliable, explainable and auditable.\n\nHe also noted that generative AI tools can process and summarise information effectively, but often struggle to meet regulatory expectations for traceability and oversight. 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Those conversations have not disappeared, but they now sit alongside more practical concerns about control, governance and accountability.\n\nRead the full article." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/always-finance-news-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/always-finance-news-ai-in-financial-services-where-the-real-challenges-are-starting-to-emerge/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where was Joe Norburn featured?", "acceptedAnswer": { "@type": "Answer", "text": "He was featured in Always Finance News discussing AI in financial services." } }, { "@type": "Question", "name": "What challenge does Norburn identify?", "acceptedAnswer": { "@type": "Answer", "text": "He says the challenge is no longer adopting AI, but ensuring the underlying data is reliable, explainable and auditable." } }, { "@type": "Question", "name": "Why are firms spending more time on validation?", "acceptedAnswer": { "@type": "Answer", "text": "Generative AI can struggle with traceability and oversight, so firms are validating outputs and strengthening governance." } } ] } ] } ``` ### Inside the FCA 2026–27 Work Programme: data, evidence and regulatory oversight - URL: https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/ - Published: 2026-05-07 - Modified: 2026-10-09 **Topic:** FCA oversight The FCA’s 2026–27 Work Programme points to faster, data-led supervision and stronger expectations for firm evidence. Firms need clear records, structured data and defensible oversight of customer outcomes. #### Key points - The FCA programme signals faster, data-led supervision and closer scrutiny of firm evidence. - Consumer Duty remains central, with firms expected to prove outcomes rather than rely on narrative. - Efficiency gains depend on complete, consistent and well-evidenced submissions. - Weak data governance and poor records management create direct regulatory risk. The FCA’s [2026–27 Annual Work Programme](https://www.fca.org.uk/publications/annual-work-programmes/2026-27) marks the second year of its five‑year strategy, [FCA: Our Strategy 2025–30](https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf), and provides the clearest signal yet of how supervisory expectations are changing in practice. The aim is beyond just regulatory reform or deregulation – instead, it reflects a shift towards data‑driven supervision, outcomes‑focused oversight and quicker regulatory intervention. Supported by the regulator’s own investment in technology and analytics. At the core of the strategy is the FCA’s ambition [to deepen trust, rebalance risk, support growth and improve lives.](https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf) For firms, this translates into a more proportionate and predictable regulatory framework – but one that is increasingly intolerant of poor‑quality data, weak evidence and slow responses when risks crystallise. #### A smarter regulator – and smarter scrutiny The FCA has been explicit that it is becoming a *“smarter regulator”* by embedding data, analytics and AI into its supervisory processes. In 2026–27, this includes greater use of analytics to triage intelligence, faster case handling, and the use of generative AI to review information submitted by firms. For regulated firms, this raises the bar on how evidence is captured, structured and explained, ensuring the financial services sector is better equipped to interrogate large volumes of material at speed. Firms that cannot demonstrate clear oversight, strong governance and good consumer outcomes – supported by defensible data – risk earlier and more decisive intervention from the regulator. #### Evidence underpins Consumer Duty and growth Although growth and competitiveness feature strongly in both the strategy and work programme, the FCA is clear that standards are not being diluted. Consumer Duty remains a central principle, particularly around fair value, understanding and support. What *is* changing is the expectation that firms can prove outcomes with evidence, not assumptions. As the FCA increasingly uses structured data and intelligence-led supervision, firms need to demonstrate how they identify customer harm, test communications, monitor outcomes and escalate issues. Narrative alone is unlikely to suffice. #### Faster processes, higher expectations Efficiency gains are also a theme. Shorter authorisation timelines, fewer unnecessary data returns and wider use of the “My FCA” platform are intended to reduce friction for firms. However, this efficiency depends on right‑first‑time submissions. Where information is incomplete, inconsistent or poorly evidenced, firms may find that regulatory engagement becomes more, not less, demanding. #### What this means in practice Taken together, the FCA’s strategy and Work Programme point to a regulatory environment where: - Supervisors act faster, using better tools and richer data - Firms are expected to evidence outcomes continuously, not retrospectively - Weak data governance and poor records management create direct regulatory risk For many firms, this places renewed focus on how information is captured, analysed and surfaced across compliance, conduct and risk functions. Technology that supports clear audit trails, defensible evidence and oversight at scale is becoming an essential enabler. This is where solutions such as [Recordsure’s](/) predictive AI-led compliance process analytics and large‑scale evidence review capabilities can help firms respond confidently to supervisory scrutiny. Where broader advisery insight or delivery support is needed – for example, Consumer Duty implementation or regulatory change programmes – [TCC’s compliance specialists](https://tcc.group/) provide complementary advisery and delivery expertise across governance, risk and compliance. As the FCA moves into the next phase of its strategy, the message is consistent: growth and innovation are encouraged, but only where firms can evidence trust, accountability and good outcomes. #### Supporting sources - [FCA 2026–27 Annual Work Programme](https://www.fca.org.uk/publications/annual-work-programmes/2026-27) - [FCA: Our Strategy 2025–30](https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Inside the FCA 2026\u201327 Work Programme: data, evidence and regulatory oversight", "item": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/", "name": "Inside the FCA 2026\u201327 Work Programme: data, evidence and regulatory oversight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-05-07T09:32:14+01:00", "dateModified": "2026-05-07T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-05-07" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Inside the FCA 2026\u201327 Work Programme: data, evidence and regulatory oversight", "datePublished": "2026-05-07T09:32:14+01:00", "dateModified": "2026-10-09T04:50:15+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/167f7a93fdc24ff9868139afc64c5ced/thumbnail-1600-44960bb41a7da690c2938c8dd50f88693ab72f6033a50fae0f9dfc7817c9df23.jpg", "description": "What the FCA\u2019s 2026\u201327 Work Programme means for evidence, data governance and supervisory expectations across UK financial services.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s 2026\u201327 Work Programme points to faster, data-led supervision and stronger expectations for firm evidence. Firms need clear records, structured data and defensible oversight of customer outcomes.\n\nThe FCA\u2019s 2026\u201327 Annual Work Programme marks the second year of its five\u2011year strategy, FCA: Our Strategy 2025\u201330, and provides the clearest signal yet of how supervisory expectations are changing in practice. The aim is beyond just regulatory reform or deregulation \u2013 instead, it reflects a shift towards data\u2011driven supervision, outcomes\u2011focused oversight and quicker regulatory intervention. Supported by the regulator\u2019s own investment in technology and analytics.\n\nAt the core of the strategy is the FCA\u2019s ambition to deepen trust, rebalance risk, support growth and improve lives. For firms, this translates into a more proportionate and predictable regulatory framework \u2013 but one that is increasingly intolerant of poor\u2011quality data, weak evidence and slow responses when risks crystallise.\n\nA smarter regulator \u2013 and smarter scrutiny\n\nThe FCA has been explicit that it is becoming a \u201csmarter regulator\u201d by embedding data, analytics and AI into its supervisory processes. In 2026\u201327, this includes greater use of analytics to triage intelligence, faster case handling, and the use of generative AI to review information submitted by firms.\n\nFor regulated firms, this raises the bar on how evidence is captured, structured and explained, ensuring the financial services sector is better equipped to interrogate large volumes of material at speed. Firms that cannot demonstrate clear oversight, strong governance and good consumer outcomes \u2013 supported by defensible data \u2013 risk earlier and more decisive intervention from the regulator.\n\nEvidence underpins Consumer Duty and growth\n\nAlthough growth and competitiveness feature strongly in both the strategy and work programme, the FCA is clear that standards are not being diluted. Consumer Duty remains a central principle, particularly around fair value, understanding and support.\n\nWhat is changing is the expectation that firms can prove outcomes with evidence, not assumptions. As the FCA increasingly uses structured data and intelligence-led supervision, firms need to demonstrate how they identify customer harm, test communications, monitor outcomes and escalate issues. Narrative alone is unlikely to suffice.\n\nFaster processes, higher expectations\n\nEfficiency gains are also a theme. Shorter authorisation timelines, fewer unnecessary data returns and wider use of the \u201cMy FCA\u201d platform are intended to reduce friction for firms. However, this efficiency depends on right\u2011first\u2011time submissions. Where information is incomplete, inconsistent or poorly evidenced, firms may find that regulatory engagement becomes more, not less, demanding.\n\nWhat this means in practice\n\nTaken together, the FCA\u2019s strategy and Work Programme point to a regulatory environment where:\n\n\u2022 Supervisors act faster, using better tools and richer data\n\n\u2022 Firms are expected to evidence outcomes continuously, not retrospectively\n\n\u2022 Weak data governance and poor records management create direct regulatory risk\n\nFor many firms, this places renewed focus on how information is captured, analysed and surfaced across compliance, conduct and risk functions.\n\nTechnology that supports clear audit trails, defensible evidence and oversight at scale is becoming an essential enabler. This is where solutions such as Recordsure\u2019s predictive AI-led compliance process analytics and large\u2011scale evidence review capabilities can help firms respond confidently to supervisory scrutiny. Where broader advisery insight or delivery support is needed \u2013 for example, Consumer Duty implementation or regulatory change programmes \u2013 TCC\u2019s compliance specialists provide complementary advisery and delivery expertise across governance, risk and compliance.\n\nAs the FCA moves into the next phase of its strategy, the message is consistent: growth and innovation are encouraged, but only where firms can evidence trust, accountability and good outcomes.", "wordCount": 583, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "FCA oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA 2026\u201327 Annual Work Programme", "url": "https://www.fca.org.uk/publications/annual-work-programmes/2026-27" }, { "@type": "CreativeWork", "name": "FCA: Our Strategy 2025\u201330", "url": "https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s 2026\u201327 Annual Work Programme marks the second year of its five\u2011year strategy, FCA: Our Strategy 2025\u201330, and provides the clearest signal yet of how supervisory expectations are changing in practice. The aim is beyond just regulatory reform or deregulation \u2013 instead, it reflects a shift towards data\u2011driven supervision, outcomes\u2011focused oversight and quicker regulatory intervention. Supported by the regulator\u2019s own investment in technology and analytics.\n\nAt the core of the strategy is the FCA\u2019s ambition to deepen trust, rebalance risk, support growth and improve lives. For firms, this translates into a more proportionate and predictable regulatory framework \u2013 but one that is increasingly intolerant of poor\u2011quality data, weak evidence and slow responses when risks crystallise." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "A smarter regulator \u2013 and smarter scrutiny", "text": "The FCA has been explicit that it is becoming a \u201csmarter regulator\u201d by embedding data, analytics and AI into its supervisory processes. In 2026\u201327, this includes greater use of analytics to triage intelligence, faster case handling, and the use of generative AI to review information submitted by firms.\n\nFor regulated firms, this raises the bar on how evidence is captured, structured and explained, ensuring the financial services sector is better equipped to interrogate large volumes of material at speed. Firms that cannot demonstrate clear oversight, strong governance and good consumer outcomes \u2013 supported by defensible data \u2013 risk earlier and more decisive intervention from the regulator." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Evidence underpins Consumer Duty and growth", "text": "Although growth and competitiveness feature strongly in both the strategy and work programme, the FCA is clear that standards are not being diluted. Consumer Duty remains a central principle, particularly around fair value, understanding and support.\n\nWhat is changing is the expectation that firms can prove outcomes with evidence, not assumptions. As the FCA increasingly uses structured data and intelligence-led supervision, firms need to demonstrate how they identify customer harm, test communications, monitor outcomes and escalate issues. Narrative alone is unlikely to suffice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Faster processes, higher expectations", "text": "Efficiency gains are also a theme. Shorter authorisation timelines, fewer unnecessary data returns and wider use of the \u201cMy FCA\u201d platform are intended to reduce friction for firms. However, this efficiency depends on right\u2011first\u2011time submissions. Where information is incomplete, inconsistent or poorly evidenced, firms may find that regulatory engagement becomes more, not less, demanding." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "What this means in practice", "text": "Taken together, the FCA\u2019s strategy and Work Programme point to a regulatory environment where:\n\n\u2022 Supervisors act faster, using better tools and richer data\n\n\u2022 Firms are expected to evidence outcomes continuously, not retrospectively\n\n\u2022 Weak data governance and poor records management create direct regulatory risk\n\nFor many firms, this places renewed focus on how information is captured, analysed and surfaced across compliance, conduct and risk functions.\n\nTechnology that supports clear audit trails, defensible evidence and oversight at scale is becoming an essential enabler. This is where solutions such as Recordsure\u2019s predictive AI-led compliance process analytics and large\u2011scale evidence review capabilities can help firms respond confidently to supervisory scrutiny. Where broader advisery insight or delivery support is needed \u2013 for example, Consumer Duty implementation or regulatory change programmes \u2013 TCC\u2019s compliance specialists provide complementary advisery and delivery expertise across governance, risk and compliance.\n\nAs the FCA moves into the next phase of its strategy, the message is consistent: growth and innovation are encouraged, but only where firms can evidence trust, accountability and good outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/inside-the-fca-2026-27-work-programme-data-evidence-and-regulatory-oversight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA work programme signal for firms?", "acceptedAnswer": { "@type": "Answer", "text": "It points to data-driven supervision, outcomes-focused oversight and faster intervention where evidence is weak." } }, { "@type": "Question", "name": "What evidence do firms need?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need defensible data showing how they identify harm, test communications, monitor outcomes and escalate issues." } }, { "@type": "Question", "name": "Why could efficiency make scrutiny harder?", "acceptedAnswer": { "@type": "Answer", "text": "Faster processes depend on right-first-time submissions, so incomplete or inconsistent evidence may lead to more demanding engagement." } } ] } ] } ``` ### FCA scrutiny is reshaping ongoing advice - URL: https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/ - Published: 2026-04-27 - Modified: 2026-10-09 **Topic:** Ongoing advice scrutiny The FCA is testing whether ongoing advice remains appropriate, valuable and responsive over time. Firms need evidence of trigger-based engagement, changing client circumstances, fair value and actions taken from monitoring. #### Key points - The FCA’s Regulatory Priorities approach asks boards to review what applies, take action and evidence outcomes. - Consumer Duty weakens reliance on annual reviews, standard service tiers and fixed rhythms as evidence of value. - CP26/10 points towards periodic suitability reviews based on client needs and clearer expectations for disengaged clients. - Recordsure helps turn interactions into structured, searchable compliance evidence across conversations, documents and reviews. The FCA has been setting out its expectations for consumer investments and ongoing advice with growing openness. Through its new [Regulatory Priorities approach](https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf), the regulator is asking boards and senior leaders to review what applies, take action and evidence the outcomes. For wealth and advice firms, that increasingly brings ongoing advice into focus. Ongoing advice used to be defended through processes such as annual reviews, standard service tiers and a “we’ve always done it this way” rhythm. Under the Consumer Duty, that logic is weakening. The FCA is now testing whether firms can demonstrate that ongoing services remain appropriate, valuable and responsive over time. In other words, not whether they have a framework but whether they can prove it works in practice. The regulator is explicit that building a [healthier investment culture](/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/) may involve consumers taking risk, and sometimes experiencing loss, without that automatically being a regulatory failure. That places more weight on firms being able to show clients understood risk, were supported appropriately and received a service that evolved with their needs. The FCA’s consultation on [simplifying pensions and investment advice rules](https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules) signals a broader move away from rigid, one-size-fits-all processes and towards proportionate judgement backed by stronger accountability. Proposals such as moving from annual to periodic suitability reviews based on client needs and clarifying expectations for disengaged clients are directly relevant to ongoing advice models. #### What the FCA is testing in ongoing advice For compliance, technology and risk leaders, the supervisory question set is becoming consistent: - **Trigger-based engagement, not automatic cycles:** can firms show how they decide when engagement is genuinely required, and what data or events prompt action? - **Changing circumstances between reviews:** how do firms identify vulnerability, life events, changes in objectives, risk tolerance or capacity for loss before the next formal touchpoint? - **Fair value over time:** where client engagement is light, how do firms evidence that ongoing fees remain justified and aligned to benefits actually received? - **Insight to action:** when monitoring identifies friction, poor outcomes or emerging risks, can firms demonstrate that the decisions taken had control environment behind them? The evidencing phase is where many firms feel the strain. Good governance is not new, but supervision is increasingly anchored in demonstrable control, measurable outcomes and retrievable evidence at a scale that manual quality assurance and periodic sampling struggle to meet. #### Where Recordsure fits: QA and compliance evidence, at scale Recordsure is built for this moment. It helps wealth and advice firms turn day-to-day interactions into structured, searchable compliance evidence without relying on hindsight or manual file reconstruction. Recordsure solutions include: - [Capture](/technology/conversation-intelligence/) and Meeting Notes summaries: create a reliable record of adviser-client interactions, in person or online, and turn conversations into consistent meeting summaries and follow-up actions, creating the evidence base ongoing advice now depends on. - [Recordsure technology](/): apply advanced speech and document analytics to monitor advice quality and Consumer Duty risks at scale, highlighting risk indicators and suitability concerns earlier and more consistently across the business. Leading advice firms, like [Attivo](/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/), are already implementing Recordsure’s AI technology to improve ongoing advice compliance while reducing file review costs, as described in [this related article](/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/). #### Supporting sources - [FCA Regulatory Priorities report for Consumer Investments](https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf) - [FCA CP26/10 consultation](https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA scrutiny is reshaping ongoing advice", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/", "name": "FCA scrutiny is reshaping ongoing advice", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-27T08:26:31+01:00", "dateModified": "2026-04-27T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-27" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA scrutiny is reshaping ongoing advice", "datePublished": "2026-04-27T08:26:31+01:00", "dateModified": "2026-10-09T04:50:11+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bbf8309e260b4c238265dd9e32918ca2/thumbnail-1600-fdfe2dcf988494d29aa8490320ee1b0f9b53bc325a0ab21a9f364585e5c0a71a.png", "description": "FCA priorities and Consumer Duty expectations are moving ongoing advice away from fixed processes towards evidence of judgement, value and client outcomes.", "inLanguage": "en-GB", "articleBody": "The FCA is testing whether ongoing advice remains appropriate, valuable and responsive over time. Firms need evidence of trigger-based engagement, changing client circumstances, fair value and actions taken from monitoring.\n\nThe FCA has been setting out its expectations for consumer investments and ongoing advice with growing openness. Through its new Regulatory Priorities approach, the regulator is asking boards and senior leaders to review what applies, take action and evidence the outcomes. For wealth and advice firms, that increasingly brings ongoing advice into focus.\n\nOngoing advice used to be defended through processes such as annual reviews, standard service tiers and a \u201cwe\u2019ve always done it this way\u201d rhythm. Under the Consumer Duty, that logic is weakening. The FCA is now testing whether firms can demonstrate that ongoing services remain appropriate, valuable and responsive over time. In other words, not whether they have a framework but whether they can prove it works in practice.\n\nThe regulator is explicit that building a healthier investment culture may involve consumers taking risk, and sometimes experiencing loss, without that automatically being a regulatory failure. That places more weight on firms being able to show clients understood risk, were supported appropriately and received a service that evolved with their needs.\n\nThe FCA\u2019s consultation on simplifying pensions and investment advice rules signals a broader move away from rigid, one-size-fits-all processes and towards proportionate judgement backed by stronger accountability. Proposals such as moving from annual to periodic suitability reviews based on client needs and clarifying expectations for disengaged clients are directly relevant to ongoing advice models.\n\nWhat the FCA is testing in ongoing advice\n\nFor compliance, technology and risk leaders, the supervisory question set is becoming consistent:\n\n\u2022 Trigger-based engagement, not automatic cycles: can firms show how they decide when engagement is genuinely required, and what data or events prompt action?\n\u2022 Changing circumstances between reviews: how do firms identify vulnerability, life events, changes in objectives, risk tolerance or capacity for loss before the next formal touchpoint?\n\u2022 Fair value over time: where client engagement is light, how do firms evidence that ongoing fees remain justified and aligned to benefits actually received?\n\u2022 Insight to action: when monitoring identifies friction, poor outcomes or emerging risks, can firms demonstrate that the decisions taken had control environment behind them?\n\nThe evidencing phase is where many firms feel the strain. Good governance is not new, but supervision is increasingly anchored in demonstrable control, measurable outcomes and retrievable evidence at a scale that manual quality assurance and periodic sampling struggle to meet.\n\nWhere Recordsure fits: QA and compliance evidence, at scale\n\nRecordsure is built for this moment. It helps wealth and advice firms turn day-to-day interactions into structured, searchable compliance evidence without relying on hindsight or manual file reconstruction.\n\nRecordsure solutions include:\n\n\u2022 Capture and Meeting Notes summaries: create a reliable record of adviser-client interactions, in person or online, and turn conversations into consistent meeting summaries and follow-up actions, creating the evidence base ongoing advice now depends on.\n\u2022 Recordsure technology: apply advanced speech and document analytics to monitor advice quality and Consumer Duty risks at scale, highlighting risk indicators and suitability concerns earlier and more consistently across the business.\n\nLeading advice firms, like Attivo, are already implementing Recordsure\u2019s AI technology to improve ongoing advice compliance while reducing file review costs, as described in this related article.", "wordCount": 554, "keywords": [ "Pensions", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Pensions", "url": "https://recordsure.com/sector/pensions/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice scrutiny" } ], "audience": [ { "@type": "Audience", "audienceType": "Pensions" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Regulatory Priorities report for Consumer Investments", "url": "https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf" }, { "@type": "CreativeWork", "name": "FCA CP26/10 consultation", "url": "https://www.fca.org.uk/publications/consultation-papers/cp26-10-simplifying-pensions-investment-advice-rules" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has been setting out its expectations for consumer investments and ongoing advice with growing openness. Through its new Regulatory Priorities approach, the regulator is asking boards and senior leaders to review what applies, take action and evidence the outcomes. For wealth and advice firms, that increasingly brings ongoing advice into focus.\n\nOngoing advice used to be defended through processes such as annual reviews, standard service tiers and a \u201cwe\u2019ve always done it this way\u201d rhythm. Under the Consumer Duty, that logic is weakening. The FCA is now testing whether firms can demonstrate that ongoing services remain appropriate, valuable and responsive over time. In other words, not whether they have a framework but whether they can prove it works in practice.\n\nThe regulator is explicit that building a healthier investment culture may involve consumers taking risk, and sometimes experiencing loss, without that automatically being a regulatory failure. That places more weight on firms being able to show clients understood risk, were supported appropriately and received a service that evolved with their needs.\n\nThe FCA\u2019s consultation on simplifying pensions and investment advice rules signals a broader move away from rigid, one-size-fits-all processes and towards proportionate judgement backed by stronger accountability. Proposals such as moving from annual to periodic suitability reviews based on client needs and clarifying expectations for disengaged clients are directly relevant to ongoing advice models." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "What the FCA is testing in ongoing advice", "text": "For compliance, technology and risk leaders, the supervisory question set is becoming consistent:\n\n\u2022 Trigger-based engagement, not automatic cycles: can firms show how they decide when engagement is genuinely required, and what data or events prompt action?\n\u2022 Changing circumstances between reviews: how do firms identify vulnerability, life events, changes in objectives, risk tolerance or capacity for loss before the next formal touchpoint?\n\u2022 Fair value over time: where client engagement is light, how do firms evidence that ongoing fees remain justified and aligned to benefits actually received?\n\u2022 Insight to action: when monitoring identifies friction, poor outcomes or emerging risks, can firms demonstrate that the decisions taken had control environment behind them?\n\nThe evidencing phase is where many firms feel the strain. Good governance is not new, but supervision is increasingly anchored in demonstrable control, measurable outcomes and retrievable evidence at a scale that manual quality assurance and periodic sampling struggle to meet." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Where Recordsure fits: QA and compliance evidence, at scale", "text": "Recordsure is built for this moment. It helps wealth and advice firms turn day-to-day interactions into structured, searchable compliance evidence without relying on hindsight or manual file reconstruction.\n\nRecordsure solutions include:\n\n\u2022 Capture and Meeting Notes summaries: create a reliable record of adviser-client interactions, in person or online, and turn conversations into consistent meeting summaries and follow-up actions, creating the evidence base ongoing advice now depends on.\n\u2022 Recordsure technology: apply advanced speech and document analytics to monitor advice quality and Consumer Duty risks at scale, highlighting risk indicators and suitability concerns earlier and more consistently across the business.\n\nLeading advice firms, like Attivo, are already implementing Recordsure\u2019s AI technology to improve ongoing advice compliance while reducing file review costs, as described in this related article." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-scrutiny-is-reshaping-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How is the FCA reshaping ongoing advice?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is testing whether ongoing services remain appropriate, valuable and responsive over time, rather than accepting fixed processes as sufficient evidence." } }, { "@type": "Question", "name": "What does CP26/10 signal?", "acceptedAnswer": { "@type": "Answer", "text": "It signals a move away from rigid processes towards proportionate judgement, including periodic suitability reviews based on client needs and clearer expectations for disengaged clients." } }, { "@type": "Question", "name": "What questions should firms be able to answer?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should evidence trigger-based engagement, changes in client circumstances, fair value where engagement is light, and actions taken when monitoring identifies risks." } }, { "@type": "Question", "name": "Where does Recordsure fit?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure helps turn adviser-client interactions, meeting notes, speech analytics and document analytics into searchable compliance evidence for ongoing advice oversight." } } ] } ] } ``` ### Consumer Understanding under the Consumer Duty: why evidence, not intent, is now the regulatory test - URL: https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/ - Published: 2026-04-24 - Modified: 2026-10-09 **Topic:** Consumer understanding The FCA expects firms to evidence how consumer understanding is achieved, monitored and improved. Firms need multiple MI sources, testing, documented change cycles and senior oversight. #### Key points - Consumer understanding must be demonstrable, testable and auditable under Consumer Duty. - Proxy indicators such as low complaints or strong sales are not enough regulatory assurance. - Weak evidence, data without insight and assumptions about customer capability create exposure. - Firms should define critical understanding points and document action and retesting. The FCA’s [Consumer understanding: good practice and areas for improvement](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-understanding-good-practice-areas-improvement) publication reinforces a key supervisory message under the Consumer Duty: firms are now expected to evidence how consumer understanding is being achieved, monitored and improved over time, not simply describe the steps they have taken to simplify communications. Consumer understanding is a core Consumer Duty outcome. While the FCA continues to emphasise its outcomes‑based approach, this review makes clear that reliance on proxy indicators, such as no complaints or strong sales performance, is no longer sufficient regulatory assurance. #### What are the FCA’s expectations Across the publication, the FCA highlights good practice where firms treat consumer understanding as anend‑to‑end control,not a one‑off intervention, including: - using multiple management information (MI) sources, such as call listening, complaints, chat transcripts, drop‑off data and surveys, to identify where customers struggle - testing communications with real customers before and after change - designing communications and journeys deliberately, with clear structure and accessibility - embedding vulnerability and accessibility into testing and governance - ensuring strong oversight, ownership and documented decision‑making From a compliance perspective, consumer understanding must now be demonstrable, testable and auditable. #### Where firms remain exposed The FCA’s “areas for improvement” point to three recurring weaknesses: **Weak evidence of effectiveness** Many firms could not show whether changes improved understanding, or why particular design choices were made. **MI without insight** Some firms collected data but could not explain how it informed decision‑making or risk control. **Assumptions about consumer capability** Insufficient testing with consumers who have lower financial capability, accessibility needs or characteristics of vulnerability increases the risk of foreseeable harm. For firms, these gaps increase regulatory exposure where Consumer Duty compliance is assessed during supervision, skilled person reviews or enforcement investigations. #### What firms should focus on now To strengthen Consumer Duty evidence around consumer understanding, firms should prioritise: - **Defining critical understanding points** within customer journeys – where misunderstanding would create harm. - **Triangulating evidence**, not relying on a single data source, to assess whether those points are understood. - **Documenting change cycles**, linking insight → action → re‑testing in a defensible audit trail. - **Embedding oversight**, with clear accountability under SM&CR and regular MI review at senior level. #### How Recordsure supports Consumer Duty evidence Recordsure helps firms move from intention to regulator‑ready evidence by enabling scalable oversight of customer interactions and journeys. Our purpose-built AI technology provides the right tool to examine your client interactions and create irrefutable audit trails and comprehensive MI. Having complete oversight means that you can improve your team’s performance, ensure compliance and deliver better customer outcomes. #### Supporting sources - [FCA: Consumer understanding, good practice and areas for improvement](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-understanding-good-practice-areas-improvement) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Consumer Understanding under the Consumer Duty: why evidence, not intent, is now the regulatory test", "item": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/", "name": "Consumer Understanding under the Consumer Duty: why evidence, not intent, is now the regulatory test", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-24T08:47:29+01:00", "dateModified": "2026-04-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Consumer Understanding under the Consumer Duty: why evidence, not intent, is now the regulatory test", "datePublished": "2026-04-24T08:47:29+01:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5e8f375bda0e4f51b7b132a439274a56/thumbnail-1024-84e17df457f63c45ada4a15de94f33e17dab666d8d865d3df2090d0802d29ab7.jpg", "description": "The FCA\u2019s consumer understanding review reinforces that firms need demonstrable evidence of understanding, not only clearer communications or good intentions.", "inLanguage": "en-GB", "articleBody": "The FCA expects firms to evidence how consumer understanding is achieved, monitored and improved. Firms need multiple MI sources, testing, documented change cycles and senior oversight.\n\nThe FCA\u2019s Consumer understanding: good practice and areas for improvement publication reinforces a key supervisory message under the Consumer Duty: firms are now expected to evidence how consumer understanding is being achieved, monitored and improved over time, not simply describe the steps they have taken to simplify communications.\n\nConsumer understanding is a core Consumer Duty outcome. While the FCA continues to emphasise its outcomes\u2011based approach, this review makes clear that reliance on proxy indicators, such as no complaints or strong sales performance, is no longer sufficient regulatory assurance.\n\nWhat are the FCA\u2019s expectations\n\nAcross the publication, the FCA highlights good practice where firms treat consumer understanding as anend\u2011to\u2011end control,not a one\u2011off intervention, including:\n\n\u2022 using multiple management information (MI) sources, such as call listening, complaints, chat transcripts, drop\u2011off data and surveys, to identify where customers struggle\n\n\u2022 testing communications with real customers before and after change\n\n\u2022 designing communications and journeys deliberately, with clear structure and accessibility\n\n\u2022 embedding vulnerability and accessibility into testing and governance\n\n\u2022 ensuring strong oversight, ownership and documented decision\u2011making\n\nFrom a compliance perspective, consumer understanding must now be demonstrable, testable and auditable.\n\nWhere firms remain exposed\n\nThe FCA\u2019s \u201careas for improvement\u201d point to three recurring weaknesses:\n\nWeak evidence of effectiveness Many firms could not show whether changes improved understanding, or why particular design choices were made.\n\nMI without insight Some firms collected data but could not explain how it informed decision\u2011making or risk control.\n\nAssumptions about consumer capability Insufficient testing with consumers who have lower financial capability, accessibility needs or characteristics of vulnerability increases the risk of foreseeable harm.\n\nFor firms, these gaps increase regulatory exposure where Consumer Duty compliance is assessed during supervision, skilled person reviews or enforcement investigations.\n\nWhat firms should focus on now\n\nTo strengthen Consumer Duty evidence around consumer understanding, firms should prioritise:\n\n\u2022 Defining critical understanding points within customer journeys \u2013 where misunderstanding would create harm.\n\n\u2022 Triangulating evidence, not relying on a single data source, to assess whether those points are understood.\n\n\u2022 Documenting change cycles, linking insight \u2192 action \u2192 re\u2011testing in a defensible audit trail.\n\n\u2022 Embedding oversight, with clear accountability under SM&CR and regular MI review at senior level.\n\nHow Recordsure supports Consumer Duty evidence\n\nRecordsure helps firms move from intention to regulator\u2011ready evidence by enabling scalable oversight of customer interactions and journeys. Our purpose-built AI technology provides the right tool to examine your client interactions and create irrefutable audit trails and comprehensive MI. Having complete oversight means that you can improve your team\u2019s performance, ensure compliance and deliver better customer outcomes.", "wordCount": 452, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-5" } ], "about": [ { "@type": "Thing", "name": "Consumer understanding" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA: Consumer understanding, good practice and areas for improvement", "url": "https://www.fca.org.uk/publications/good-and-poor-practice/consumer-understanding-good-practice-areas-improvement" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s Consumer understanding: good practice and areas for improvement publication reinforces a key supervisory message under the Consumer Duty: firms are now expected to evidence how consumer understanding is being achieved, monitored and improved over time, not simply describe the steps they have taken to simplify communications.\n\nConsumer understanding is a core Consumer Duty outcome. While the FCA continues to emphasise its outcomes\u2011based approach, this review makes clear that reliance on proxy indicators, such as no complaints or strong sales performance, is no longer sufficient regulatory assurance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "headline": "What are the FCA\u2019s expectations", "text": "Across the publication, the FCA highlights good practice where firms treat consumer understanding as anend\u2011to\u2011end control,not a one\u2011off intervention, including:\n\n\u2022 using multiple management information (MI) sources, such as call listening, complaints, chat transcripts, drop\u2011off data and surveys, to identify where customers struggle\n\n\u2022 testing communications with real customers before and after change\n\n\u2022 designing communications and journeys deliberately, with clear structure and accessibility\n\n\u2022 embedding vulnerability and accessibility into testing and governance\n\n\u2022 ensuring strong oversight, ownership and documented decision\u2011making\n\nFrom a compliance perspective, consumer understanding must now be demonstrable, testable and auditable." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms remain exposed", "text": "The FCA\u2019s \u201careas for improvement\u201d point to three recurring weaknesses:\n\nWeak evidence of effectiveness Many firms could not show whether changes improved understanding, or why particular design choices were made.\n\nMI without insight Some firms collected data but could not explain how it informed decision\u2011making or risk control.\n\nAssumptions about consumer capability Insufficient testing with consumers who have lower financial capability, accessibility needs or characteristics of vulnerability increases the risk of foreseeable harm.\n\nFor firms, these gaps increase regulatory exposure where Consumer Duty compliance is assessed during supervision, skilled person reviews or enforcement investigations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "headline": "What firms should focus on now", "text": "To strengthen Consumer Duty evidence around consumer understanding, firms should prioritise:\n\n\u2022 Defining critical understanding points within customer journeys \u2013 where misunderstanding would create harm.\n\n\u2022 Triangulating evidence, not relying on a single data source, to assess whether those points are understood.\n\n\u2022 Documenting change cycles, linking insight \u2192 action \u2192 re\u2011testing in a defensible audit trail.\n\n\u2022 Embedding oversight, with clear accountability under SM&CR and regular MI review at senior level." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure supports Consumer Duty evidence", "text": "Recordsure helps firms move from intention to regulator\u2011ready evidence by enabling scalable oversight of customer interactions and journeys. Our purpose-built AI technology provides the right tool to examine your client interactions and create irrefutable audit trails and comprehensive MI. Having complete oversight means that you can improve your team\u2019s performance, ensure compliance and deliver better customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-understanding-under-the-consumer-duty-why-evidence-not-intent-is-now-the-regulatory-test/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA expect on consumer understanding?", "acceptedAnswer": { "@type": "Answer", "text": "Firms are expected to evidence how consumer understanding is achieved, monitored and improved over time." } }, { "@type": "Question", "name": "Why are proxy indicators not enough?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA review makes clear that indicators such as no complaints or strong sales performance do not provide sufficient assurance on understanding." } }, { "@type": "Question", "name": "Where do firms remain exposed?", "acceptedAnswer": { "@type": "Answer", "text": "Weak evidence of effectiveness, MI without insight and assumptions about consumer capability are recurring weaknesses." } }, { "@type": "Question", "name": "What should firms prioritise now?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should define critical understanding points, triangulate evidence, document change cycles and embed senior oversight." } } ] } ] } ``` ### Turning the FCA’s Mortgage Regulatory Priorities into actionable insight - URL: https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/ - Published: 2026-04-23 - Modified: 2026-10-09 **Topic:** Mortgage priorities The FCA’s mortgages report gives firms a clearer view of supervisory priorities across market change, responsible lending, advice quality, governance and technology. Recordsure argues that firms need timely evidence and insight to demonstrate good outcomes under the Consumer Duty. #### Key points - The FCA report covers lenders, administrators and intermediaries in mortgages and home finance. - Firms are expected to adapt to changing consumer needs and evidence good outcomes. - Responsible lending, support for financial difficulty and second charge lending remain in focus. - Advice quality depends on suitability, record-keeping, assurance and journey-wide outcome testing. The FCA has published its [Regulatory Priorities report for the mortgages sector](https://www.fca.org.uk/publication/regulatory-priorities/mortgages-report.pdf), setting out where it will focus supervisory attention over the year ahead. The report covers mortgage and home finance lenders, administrators and intermediaries, and gives boards and senior leaders a clearer view of regulatory expectations. The mortgage market has shown relative resilience, including relatively low arrears despite pressure on interest rates. But the FCA’s emphasis is that resilience alone is not enough. Firms are expected to show how they are adapting to changing consumer needs and delivering good outcomes with the Consumer Duty embedded across the customer journey. #### A mortgage market evolving in real time The report recognises that the mortgage market no longer resembles the market of a decade ago. Consumers are buying later, borrowing for longer and managing mortgage debt alongside other financial commitments into later life. The [Mortgage Rule Review](https://www.fca.org.uk/firms/mortgage-rule-review) is the FCA’s way of responding to these shifts. It aims to support innovation and access without compromising responsible lending or consumer protection. For firms, this creates both opportunity and challenge. Greater flexibility to meet customer needs comes with higher expectations around how risks and outcomes are understood, monitored and evidenced. The FCA also expects firms to contribute insight and data to consultations and work on later-life lending, reflecting a broader move towards evidence-led policymaking. #### Responsible lending under closer, ongoing monitoring Responsible lending remains central to the FCA’s priorities. The report emphasises affordability as an ongoing area for review, not a one-off assessment, as products, customer profiles and economic conditions change. The FCA does not prescribe new rules in this area, but it signals that firms should be able to show their affordability approaches remain appropriate and continue to deliver good outcomes. This increases the importance of oversight, management information and early identification of emerging risks. Support for borrowers in financial difficulty also remains in focus. The FCA expects timely and appropriate forbearance, with evidence of how policies translate into real customer experiences. Second charge lending receives specific attention, with firms expected to assess whether affordability and expenditure assumptions reflect customer circumstances. #### Advice quality and the full customer journey Advice quality is the third headline priority. The FCA’s focus goes beyond individual advice interactions to the systems, controls and assurance that support them. Firms need to ensure advisers recommend products suitable for customers’ needs, including complex scenarios such as later-life borrowing or debt consolidation. Record-keeping and quality assurance are highlighted, reinforcing the need for evidence that good outcomes are being delivered consistently. Advice quality is closely linked to the [Consumer Duty](https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty). Firms should understand and test outcomes across the customer journey, rather than relying on point-in-time checks or assumptions about what good looks like. #### Governance, resilience and technology The report also brings together themes including operational resilience, disorderly failure planning, conflicts of interest, appointed representative oversight, Senior Managers and Certification Regime accountability, and use of technology and AI. Together, these themes show a regulatory focus on how well firms understand what is happening in their businesses. Strong governance increasingly depends on timely, accurate insight, not just policies and controls. Firms need to evidence how controls operate in practice as they scale, outsource and adopt new technologies. #### Turning regulatory priorities into insight For boards and senior leaders, the value of the report lies in the direction it sets. The FCA is clear about where it will look, the outcomes it cares about and the evidence firms should be able to access quickly. Firms that can surface insight, monitor outcomes effectively and respond early to emerging risks are better placed to operate confidently. Technology has a role as an enabler of oversight, assurance and more meaningful MI, rather than as a replacement for judgement. #### How Recordsure supports mortgage firms Recordsure helps mortgage firms capture, analyse and evidence customer interactions at scale. [Capture](/technology/conversation-intelligence/) creates an audio record of client conversations, whether in person or online, and turns conversations into meeting summaries. [Recordsure technology](/technology/document-intelligence/) applies speech and document analytics to transform oversight. With broader coverage, smarter automation and richer MI, firms can gain clearer insight into advice quality, emerging risks and customer outcomes, supporting faster and more confident decision-making. #### Supporting sources - [FCA Regulatory Priorities report for the mortgages sector](https://www.fca.org.uk/publication/regulatory-priorities/mortgages-report.pdf) - [FCA Mortgage Rule Review](https://www.fca.org.uk/firms/mortgage-rule-review) - [FCA Consumer Duty policy statement](https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Turning the FCA\u2019s Mortgage Regulatory Priorities into actionable insight", "item": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/", "name": "Turning the FCA\u2019s Mortgage Regulatory Priorities into actionable insight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-23T13:48:53+01:00", "dateModified": "2026-04-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Turning the FCA\u2019s Mortgage Regulatory Priorities into actionable insight", "datePublished": "2026-04-23T13:48:53+01:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f9a4f794558944bfb40677da44351c4f/thumbnail-1600-6e8a7e080632bde600d3d9a45e5cdc510988c973b04add6db99bcaaa4718d490.jpg", "description": "The FCA\u2019s mortgage priorities place renewed emphasis on evidence, outcome testing, responsible lending and the ability to understand customer experience across the journey.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s mortgages report gives firms a clearer view of supervisory priorities across market change, responsible lending, advice quality, governance and technology. Recordsure argues that firms need timely evidence and insight to demonstrate good outcomes under the Consumer Duty.\n\nThe FCA has published its Regulatory Priorities report for the mortgages sector, setting out where it will focus supervisory attention over the year ahead. The report covers mortgage and home finance lenders, administrators and intermediaries, and gives boards and senior leaders a clearer view of regulatory expectations.\n\nThe mortgage market has shown relative resilience, including relatively low arrears despite pressure on interest rates. But the FCA\u2019s emphasis is that resilience alone is not enough. Firms are expected to show how they are adapting to changing consumer needs and delivering good outcomes with the Consumer Duty embedded across the customer journey.\n\nA mortgage market evolving in real time\n\nThe report recognises that the mortgage market no longer resembles the market of a decade ago. Consumers are buying later, borrowing for longer and managing mortgage debt alongside other financial commitments into later life.\n\nThe Mortgage Rule Review is the FCA\u2019s way of responding to these shifts. It aims to support innovation and access without compromising responsible lending or consumer protection.\n\nFor firms, this creates both opportunity and challenge. Greater flexibility to meet customer needs comes with higher expectations around how risks and outcomes are understood, monitored and evidenced. The FCA also expects firms to contribute insight and data to consultations and work on later-life lending, reflecting a broader move towards evidence-led policymaking.\n\nResponsible lending under closer, ongoing monitoring\n\nResponsible lending remains central to the FCA\u2019s priorities. The report emphasises affordability as an ongoing area for review, not a one-off assessment, as products, customer profiles and economic conditions change.\n\nThe FCA does not prescribe new rules in this area, but it signals that firms should be able to show their affordability approaches remain appropriate and continue to deliver good outcomes. This increases the importance of oversight, management information and early identification of emerging risks.\n\nSupport for borrowers in financial difficulty also remains in focus. The FCA expects timely and appropriate forbearance, with evidence of how policies translate into real customer experiences. Second charge lending receives specific attention, with firms expected to assess whether affordability and expenditure assumptions reflect customer circumstances.\n\nAdvice quality and the full customer journey\n\nAdvice quality is the third headline priority. The FCA\u2019s focus goes beyond individual advice interactions to the systems, controls and assurance that support them.\n\nFirms need to ensure advisers recommend products suitable for customers\u2019 needs, including complex scenarios such as later-life borrowing or debt consolidation. Record-keeping and quality assurance are highlighted, reinforcing the need for evidence that good outcomes are being delivered consistently.\n\nAdvice quality is closely linked to the Consumer Duty. Firms should understand and test outcomes across the customer journey, rather than relying on point-in-time checks or assumptions about what good looks like.\n\nGovernance, resilience and technology\n\nThe report also brings together themes including operational resilience, disorderly failure planning, conflicts of interest, appointed representative oversight, Senior Managers and Certification Regime accountability, and use of technology and AI.\n\nTogether, these themes show a regulatory focus on how well firms understand what is happening in their businesses. Strong governance increasingly depends on timely, accurate insight, not just policies and controls. Firms need to evidence how controls operate in practice as they scale, outsource and adopt new technologies.\n\nTurning regulatory priorities into insight\n\nFor boards and senior leaders, the value of the report lies in the direction it sets. The FCA is clear about where it will look, the outcomes it cares about and the evidence firms should be able to access quickly.\n\nFirms that can surface insight, monitor outcomes effectively and respond early to emerging risks are better placed to operate confidently. Technology has a role as an enabler of oversight, assurance and more meaningful MI, rather than as a replacement for judgement.\n\nHow Recordsure supports mortgage firms\n\nRecordsure helps mortgage firms capture, analyse and evidence customer interactions at scale. Capture creates an audio record of client conversations, whether in person or online, and turns conversations into meeting summaries.\n\nRecordsure technology applies speech and document analytics to transform oversight. With broader coverage, smarter automation and richer MI, firms can gain clearer insight into advice quality, emerging risks and customer outcomes, supporting faster and more confident decision-making.", "wordCount": 729, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Mortgage priorities" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-7" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Regulatory Priorities report for the mortgages sector", "url": "https://www.fca.org.uk/publication/regulatory-priorities/mortgages-report.pdf" }, { "@type": "CreativeWork", "name": "FCA Mortgage Rule Review", "url": "https://www.fca.org.uk/firms/mortgage-rule-review" }, { "@type": "CreativeWork", "name": "FCA Consumer Duty policy statement", "url": "https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has published its Regulatory Priorities report for the mortgages sector, setting out where it will focus supervisory attention over the year ahead. The report covers mortgage and home finance lenders, administrators and intermediaries, and gives boards and senior leaders a clearer view of regulatory expectations.\n\nThe mortgage market has shown relative resilience, including relatively low arrears despite pressure on interest rates. But the FCA\u2019s emphasis is that resilience alone is not enough. Firms are expected to show how they are adapting to changing consumer needs and delivering good outcomes with the Consumer Duty embedded across the customer journey." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "A mortgage market evolving in real time", "text": "The report recognises that the mortgage market no longer resembles the market of a decade ago. Consumers are buying later, borrowing for longer and managing mortgage debt alongside other financial commitments into later life.\n\nThe Mortgage Rule Review is the FCA\u2019s way of responding to these shifts. It aims to support innovation and access without compromising responsible lending or consumer protection.\n\nFor firms, this creates both opportunity and challenge. Greater flexibility to meet customer needs comes with higher expectations around how risks and outcomes are understood, monitored and evidenced. 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The report emphasises affordability as an ongoing area for review, not a one-off assessment, as products, customer profiles and economic conditions change.\n\nThe FCA does not prescribe new rules in this area, but it signals that firms should be able to show their affordability approaches remain appropriate and continue to deliver good outcomes. This increases the importance of oversight, management information and early identification of emerging risks.\n\nSupport for borrowers in financial difficulty also remains in focus. The FCA expects timely and appropriate forbearance, with evidence of how policies translate into real customer experiences. 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Record-keeping and quality assurance are highlighted, reinforcing the need for evidence that good outcomes are being delivered consistently.\n\nAdvice quality is closely linked to the Consumer Duty. Firms should understand and test outcomes across the customer journey, rather than relying on point-in-time checks or assumptions about what good looks like." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Governance, resilience and technology", "text": "The report also brings together themes including operational resilience, disorderly failure planning, conflicts of interest, appointed representative oversight, Senior Managers and Certification Regime accountability, and use of technology and AI.\n\nTogether, these themes show a regulatory focus on how well firms understand what is happening in their businesses. 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The FCA is clear about where it will look, the outcomes it cares about and the evidence firms should be able to access quickly.\n\nFirms that can surface insight, monitor outcomes effectively and respond early to emerging risks are better placed to operate confidently. Technology has a role as an enabler of oversight, assurance and more meaningful MI, rather than as a replacement for judgement." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure supports mortgage firms", "text": "Recordsure helps mortgage firms capture, analyse and evidence customer interactions at scale. Capture creates an audio record of client conversations, whether in person or online, and turns conversations into meeting summaries.\n\nRecordsure technology applies speech and document analytics to transform oversight. With broader coverage, smarter automation and richer MI, firms can gain clearer insight into advice quality, emerging risks and customer outcomes, supporting faster and more confident decision-making." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-the-fcas-mortgage-regulatory-priorities-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA mortgages report cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covers mortgage and home finance lenders, administrators and intermediaries, and sets supervisory priorities for the year ahead." } }, { "@type": "Question", "name": "Why is the Mortgage Rule Review relevant?", "acceptedAnswer": { "@type": "Answer", "text": "It is the FCA\u2019s response to market shifts such as later buying, longer borrowing and more complex later-life lending needs." } }, { "@type": "Question", "name": "What does the report say about responsible lending?", "acceptedAnswer": { "@type": "Answer", "text": "Affordability should be actively reviewed as products, customer profiles and economic conditions change." } }, { "@type": "Question", "name": "How does the Consumer Duty connect to advice quality?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to understand and test outcomes across the customer journey, not rely only on point-in-time checks." } } ] } ] } ``` ### FCA Regulatory Priorities Payments: Key areas of focus - URL: https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/ - Published: 2026-04-23 - Modified: 2026-10-09 **Topic:** Payments priorities The FCA’s 2026 payments priorities give payment and e-money firms a practical agenda for board oversight. Firms need evidence for innovation readiness, Consumer Duty, financial crime controls, resilience and safeguarding. #### Key points - The FCA’s payments report highlights four themes shaping supervisory scrutiny over the coming year. - Innovation in open banking, variable recurring payments, stablecoins and digital payments must be matched with controls. - Consumer Duty, financial crime, resilience and safeguarding weaknesses are likely to draw intervention. - Recordsure supports regulator-ready MI and audit trails for boards and senior managers. The [FCA’s Regulatory Priorities: Payments report for 2026](https://www.fca.org.uk/publication/regulatory-priorities/payments-report.pdf) outlines the supervisory focus for payment and e-money firms. It serves as a practical guide for boards and senior managers, highlighting key areas where regulatory scrutiny will intensify over the coming year. #### Four core themes for the payments sector The report emphasises four consistent themes shaping the FCA’s approach. - **Preparing for future regulation and innovation:** the FCA supports innovation in open banking, variable recurring payments, stablecoins and digital payments, but insists growth must be backed by compliant governance and operational readiness. Firms are urged to invest early to align with regulatory changes and engage actively with policy and supervisory initiatives. - **Delivering the Consumer Duty in practice:** while some firms show improved consumer outcomes, the FCA notes ongoing issues with pricing transparency, especially in international payments, treatment of vulnerable customers and governance oversight. Firms must continuously assess products and services against the Consumer Duty and promptly address deficiencies. - **Protecting financial system integrity:** preventing financial crime and ensuring operational resilience remain priorities. The FCA expects firms to maintain strong systems and controls, have skilled oversight, and be prepared for new incident and third-party reporting requirements. Weak resilience or controls pose risks to individual firms, market confidence and competition. - **Keeping customers’ money safe:** safeguarding remains central, especially with the introduction of the Safeguarding Supplementary Regime. Firms must demonstrate effective governance, resilient safeguarding arrangements and credible wind-down plans. The FCA warns that weaknesses here will lead to regulatory intervention. #### Immediate actions for firms The report advises payments firms to prioritise several key actions: - Re-test governance, safeguarding and resilience frameworks to ensure alignment with current FCA expectations. - Provide evidence of ongoing Consumer Duty assessments and ensure board-level oversight. - Prepare for upcoming changes to incident, third-party and safeguarding rules ahead of increased enforcement activity. - Match innovation initiatives with compliant controls and establish clear accountability. #### Regulator-ready evidence and audit trails Recordsure helps firms evidence compliance, supporting boards and senior managers with clear, regulator-ready management information and audit trails. #### Supporting sources - [FCA Regulatory Priorities: Payments report for 2026](https://www.fca.org.uk/publication/regulatory-priorities/payments-report.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA Regulatory Priorities Payments: Key areas of focus", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/", "name": "FCA Regulatory Priorities Payments: Key areas of focus", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-23T11:08:24+01:00", "dateModified": "2026-04-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-23" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA Regulatory Priorities Payments: Key areas of focus", "datePublished": "2026-04-23T11:08:24+01:00", "dateModified": "2026-10-09T04:50:11+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ab31863e0e4f44c89622321feda7d80a/thumbnail-1600-b176be389fabf9334c69645050d01fccda4f96f9d9f9fb94c6a3fe28aee0c7c3.jpg", "description": "The FCA\u2019s payments priorities focus on innovation, Consumer Duty, financial crime, operational resilience and safeguarding, with boards expected to evidence readiness.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s 2026 payments priorities give payment and e-money firms a practical agenda for board oversight. Firms need evidence for innovation readiness, Consumer Duty, financial crime controls, resilience and safeguarding.\n\nThe FCA\u2019s Regulatory Priorities: Payments report for 2026 outlines the supervisory focus for payment and e-money firms. It serves as a practical guide for boards and senior managers, highlighting key areas where regulatory scrutiny will intensify over the coming year.\n\nFour core themes for the payments sector\n\nThe report emphasises four consistent themes shaping the FCA\u2019s approach.\n\n\u2022 Preparing for future regulation and innovation: the FCA supports innovation in open banking, variable recurring payments, stablecoins and digital payments, but insists growth must be backed by compliant governance and operational readiness. Firms are urged to invest early to align with regulatory changes and engage actively with policy and supervisory initiatives.\n\u2022 Delivering the Consumer Duty in practice: while some firms show improved consumer outcomes, the FCA notes ongoing issues with pricing transparency, especially in international payments, treatment of vulnerable customers and governance oversight. Firms must continuously assess products and services against the Consumer Duty and promptly address deficiencies.\n\u2022 Protecting financial system integrity: preventing financial crime and ensuring operational resilience remain priorities. The FCA expects firms to maintain strong systems and controls, have skilled oversight, and be prepared for new incident and third-party reporting requirements. Weak resilience or controls pose risks to individual firms, market confidence and competition.\n\u2022 Keeping customers\u2019 money safe: safeguarding remains central, especially with the introduction of the Safeguarding Supplementary Regime. Firms must demonstrate effective governance, resilient safeguarding arrangements and credible wind-down plans. The FCA warns that weaknesses here will lead to regulatory intervention.\n\nImmediate actions for firms\n\nThe report advises payments firms to prioritise several key actions:\n\n\u2022 Re-test governance, safeguarding and resilience frameworks to ensure alignment with current FCA expectations.\n\u2022 Provide evidence of ongoing Consumer Duty assessments and ensure board-level oversight.\n\u2022 Prepare for upcoming changes to incident, third-party and safeguarding rules ahead of increased enforcement activity.\n\u2022 Match innovation initiatives with compliant controls and establish clear accountability.\n\nRegulator-ready evidence and audit trails\n\nRecordsure helps firms evidence compliance, supporting boards and senior managers with clear, regulator-ready management information and audit trails.", "wordCount": 367, "keywords": [ "Banking", "Insurance", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Payments priorities" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Regulatory Priorities: Payments report for 2026", "url": "https://www.fca.org.uk/publication/regulatory-priorities/payments-report.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s Regulatory Priorities: Payments report for 2026 outlines the supervisory focus for payment and e-money firms. It serves as a practical guide for boards and senior managers, highlighting key areas where regulatory scrutiny will intensify over the coming year." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "inLanguage": "en-GB", "headline": "Four core themes for the payments sector", "text": "The report emphasises four consistent themes shaping the FCA\u2019s approach.\n\n\u2022 Preparing for future regulation and innovation: the FCA supports innovation in open banking, variable recurring payments, stablecoins and digital payments, but insists growth must be backed by compliant governance and operational readiness. Firms are urged to invest early to align with regulatory changes and engage actively with policy and supervisory initiatives.\n\u2022 Delivering the Consumer Duty in practice: while some firms show improved consumer outcomes, the FCA notes ongoing issues with pricing transparency, especially in international payments, treatment of vulnerable customers and governance oversight. Firms must continuously assess products and services against the Consumer Duty and promptly address deficiencies.\n\u2022 Protecting financial system integrity: preventing financial crime and ensuring operational resilience remain priorities. The FCA expects firms to maintain strong systems and controls, have skilled oversight, and be prepared for new incident and third-party reporting requirements. 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The FCA warns that weaknesses here will lead to regulatory intervention." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "inLanguage": "en-GB", "headline": "Immediate actions for firms", "text": "The report advises payments firms to prioritise several key actions:\n\n\u2022 Re-test governance, safeguarding and resilience frameworks to ensure alignment with current FCA expectations.\n\u2022 Provide evidence of ongoing Consumer Duty assessments and ensure board-level oversight.\n\u2022 Prepare for upcoming changes to incident, third-party and safeguarding rules ahead of increased enforcement activity.\n\u2022 Match innovation initiatives with compliant controls and establish clear accountability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "inLanguage": "en-GB", "headline": "Regulator-ready evidence and audit trails", "text": "Recordsure helps firms evidence compliance, supporting boards and senior managers with clear, regulator-ready management information and audit trails." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-payments-key-areas-of-focus/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is the FCA payments report for?", "acceptedAnswer": { "@type": "Answer", "text": "It is for payment and e-money firms, and gives boards and senior managers a guide to supervisory focus over the coming year." } }, { "@type": "Question", "name": "What are the four themes in the report?", "acceptedAnswer": { "@type": "Answer", "text": "They are preparing for future regulation and innovation, delivering the Consumer Duty, protecting financial system integrity and keeping customers\u2019 money safe." } }, { "@type": "Question", "name": "What immediate actions should firms take?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should re-test governance, safeguarding and resilience frameworks, evidence Consumer Duty assessments, prepare for rule changes and match innovation with controls." } }, { "@type": "Question", "name": "How does Recordsure support payments firms?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure helps firms evidence compliance through regulator-ready management information and audit trails for boards and senior managers." } } ] } ] } ``` ### FCA Regulatory Priorities 2026: What wholesale firms need to evidence now - URL: https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/ - Published: 2026-04-23 - Modified: 2026-10-09 **Topic:** Wholesale priorities The FCA’s Wholesale Markets and Wholesale Buy Side reports shift supervisory attention to evidenced resilience, governance and controlled technology adoption. Boards need evidence trails that are reviewable and visible in day-to-day oversight. #### Key points - The FCA’s wholesale reports replace more than 40 portfolio letters with outcomes-focused supervisory expectations. - Operational resilience must be evidenced through scenario testing, incident decisions, escalation routes and follow-up actions. - Technology adoption, including AI and data analytics, must have proportionate governance, ownership and risk controls. - Recordsure helps regulated firms create evidence trails across risk, compliance and operational oversight. In March 2026, the FCA published its first [**Regulatory Priorities reports for Wholesale Markets**](https://www.fca.org.uk/publication/regulatory-priorities/wholesale-markets-report.pdf) and the [**Wholesale Buy Side**](https://www.fca.org.uk/publication/regulatory-priorities/wholesale-buy-side-report.pdf), replacing more than 40 portfolio letters with a single, outcomes-focused statement of supervisory expectations. The shift is significant. These reports are aimed directly at boards and senior management and make clear that firms will be judged not on intent or policy coverage, but on whether governance, controls and decision-making can be evidenced in practice. Across both reports, two priorities stand out as particularly relevant for wholesale firms: **operational resilience and governance**, and **the safe, controlled adoption of technology**. #### From documented frameworks to evidenced operational resilience In both wholesale markets and buy-side activity, operational resilience is no longer treated as a periodic compliance exercise. The FCA expects firms to demonstrate that important business services can remain within defined impact tolerances during severe disruption, including technology failures and third-party outages. This includes stronger oversight of outsourced and intra-group providers, clearer accountability and mature incident response processes. Crucially, the FCA makes clear that it will increasingly test whether frameworks *work in practice*. For wholesale firms, this means being able to evidence scenario testing, decision-making during incidents, escalation routes and follow-up actions, not simply the existence of policies or registers. Buy-side firms face similar expectations, particularly where operational weaknesses could undermine investor trust or market stability. The learning for firms is that resilience must be operationalised and auditable. Fragmented documentation, manual tracking and ad hoc evidence gathering leave firms exposed when supervisory scrutiny increases. #### Governance and accountability in technology adoption Both reports emphasise that innovation, including the use of AI, data analytics and digital infrastructure, must be accompanied by proportionate governance and oversight. The FCA continues to support innovation through initiatives such as sandboxes and digital market infrastructure reforms, but is explicit that firms remain fully accountable for outcomes. For buy-side firms in particular, the FCA highlights governance around data quality, model risk, valuation practices and conflicts of interest as areas of supervisory focus. Where technology is used in decision-making or oversight, firms must be able to explain how risks are identified, controlled and reviewed. This reinforces a broader FCA message: technology does not reduce regulatory responsibility; it increases the need for clear ownership, evidence trails and governance discipline. #### What firms should prioritise now Taken together, the Wholesale Markets and Wholesale Buy-Side reports point to a supervisory model that is more targeted, more data-driven and less forgiving of weak execution. Firms that can demonstrate consistent oversight, structured evidence and accountable processes can expect a lighter supervisory touch; those that cannot should expect earlier and more assertive intervention. For wholesale firms, the immediate priority is not new policy creation, but ensuring that **governance, resilience and technology controls are evidenced, reviewable and board-visible**. As the FCA’s new approach beds in, the ability to demonstrate outcomes, rather than describe intentions, will increasingly define regulatory credibility. #### Turning regulatory expectations into day-to-day oversight Recordsure is used by regulated firms to operationalise governance and resilience requirements, creating clear evidence trails across risk, compliance and operational oversight as supervisory scrutiny increases. #### Supporting sources - [FCA Regulatory Priorities report for Wholesale Markets](https://www.fca.org.uk/publication/regulatory-priorities/wholesale-markets-report.pdf) - [FCA Regulatory Priorities report for Wholesale Buy Side](https://www.fca.org.uk/publication/regulatory-priorities/wholesale-buy-side-report.pdf) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA Regulatory Priorities 2026: What wholesale firms need to evidence now", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/", "name": "FCA Regulatory Priorities 2026: What wholesale firms need to evidence now", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-23T10:52:03+01:00", "dateModified": "2026-04-27T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-27" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA Regulatory Priorities 2026: What wholesale firms need to evidence now", "datePublished": "2026-04-23T10:52:03+01:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c0184070d74b4181a60a073a4bade3ea/thumbnail-1600-baf04dbffeb68849d4b34273f3e99879dd42f9f0a8c3e7770a4c4fb9f193a879.jpg", "description": "The FCA\u2019s wholesale priorities require firms to evidence operational resilience, governance and technology controls in practice, not just maintain documented frameworks.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s Wholesale Markets and Wholesale Buy Side reports shift supervisory attention to evidenced resilience, governance and controlled technology adoption. Boards need evidence trails that are reviewable and visible in day-to-day oversight.\n\nIn March 2026, the FCA published its first Regulatory Priorities reports for Wholesale Markets and the Wholesale Buy Side, replacing more than 40 portfolio letters with a single, outcomes-focused statement of supervisory expectations.\n\nThe shift is significant. These reports are aimed directly at boards and senior management and make clear that firms will be judged not on intent or policy coverage, but on whether governance, controls and decision-making can be evidenced in practice.\n\nAcross both reports, two priorities stand out as particularly relevant for wholesale firms: operational resilience and governance, and the safe, controlled adoption of technology.\n\nFrom documented frameworks to evidenced operational resilience\n\nIn both wholesale markets and buy-side activity, operational resilience is no longer treated as a periodic compliance exercise. The FCA expects firms to demonstrate that important business services can remain within defined impact tolerances during severe disruption, including technology failures and third-party outages. This includes stronger oversight of outsourced and intra-group providers, clearer accountability and mature incident response processes.\n\nCrucially, the FCA makes clear that it will increasingly test whether frameworks work in practice. For wholesale firms, this means being able to evidence scenario testing, decision-making during incidents, escalation routes and follow-up actions, not simply the existence of policies or registers. Buy-side firms face similar expectations, particularly where operational weaknesses could undermine investor trust or market stability.\n\nThe learning for firms is that resilience must be operationalised and auditable. Fragmented documentation, manual tracking and ad hoc evidence gathering leave firms exposed when supervisory scrutiny increases.\n\nGovernance and accountability in technology adoption\n\nBoth reports emphasise that innovation, including the use of AI, data analytics and digital infrastructure, must be accompanied by proportionate governance and oversight. The FCA continues to support innovation through initiatives such as sandboxes and digital market infrastructure reforms, but is explicit that firms remain fully accountable for outcomes.\n\nFor buy-side firms in particular, the FCA highlights governance around data quality, model risk, valuation practices and conflicts of interest as areas of supervisory focus. Where technology is used in decision-making or oversight, firms must be able to explain how risks are identified, controlled and reviewed.\n\nThis reinforces a broader FCA message: technology does not reduce regulatory responsibility; it increases the need for clear ownership, evidence trails and governance discipline.\n\nWhat firms should prioritise now\n\nTaken together, the Wholesale Markets and Wholesale Buy-Side reports point to a supervisory model that is more targeted, more data-driven and less forgiving of weak execution. 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These reports are aimed directly at boards and senior management and make clear that firms will be judged not on intent or policy coverage, but on whether governance, controls and decision-making can be evidenced in practice.\n\nAcross both reports, two priorities stand out as particularly relevant for wholesale firms: operational resilience and governance, and the safe, controlled adoption of technology." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "inLanguage": "en-GB", "headline": "From documented frameworks to evidenced operational resilience", "text": "In both wholesale markets and buy-side activity, operational resilience is no longer treated as a periodic compliance exercise. The FCA expects firms to demonstrate that important business services can remain within defined impact tolerances during severe disruption, including technology failures and third-party outages. This includes stronger oversight of outsourced and intra-group providers, clearer accountability and mature incident response processes.\n\nCrucially, the FCA makes clear that it will increasingly test whether frameworks work in practice. For wholesale firms, this means being able to evidence scenario testing, decision-making during incidents, escalation routes and follow-up actions, not simply the existence of policies or registers. Buy-side firms face similar expectations, particularly where operational weaknesses could undermine investor trust or market stability.\n\nThe learning for firms is that resilience must be operationalised and auditable. Fragmented documentation, manual tracking and ad hoc evidence gathering leave firms exposed when supervisory scrutiny increases." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "inLanguage": "en-GB", "headline": "Governance and accountability in technology adoption", "text": "Both reports emphasise that innovation, including the use of AI, data analytics and digital infrastructure, must be accompanied by proportionate governance and oversight. The FCA continues to support innovation through initiatives such as sandboxes and digital market infrastructure reforms, but is explicit that firms remain fully accountable for outcomes.\n\nFor buy-side firms in particular, the FCA highlights governance around data quality, model risk, valuation practices and conflicts of interest as areas of supervisory focus. Where technology is used in decision-making or oversight, firms must be able to explain how risks are identified, controlled and reviewed.\n\nThis reinforces a broader FCA message: technology does not reduce regulatory responsibility; it increases the need for clear ownership, evidence trails and governance discipline." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "inLanguage": "en-GB", "headline": "What firms should prioritise now", "text": "Taken together, the Wholesale Markets and Wholesale Buy-Side reports point to a supervisory model that is more targeted, more data-driven and less forgiving of weak execution. Firms that can demonstrate consistent oversight, structured evidence and accountable processes can expect a lighter supervisory touch; those that cannot should expect earlier and more assertive intervention.\n\nFor wholesale firms, the immediate priority is not new policy creation, but ensuring that governance, resilience and technology controls are evidenced, reviewable and board-visible.\n\nAs the FCA\u2019s new approach beds in, the ability to demonstrate outcomes, rather than describe intentions, will increasingly define regulatory credibility." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "inLanguage": "en-GB", "headline": "Turning regulatory expectations into day-to-day oversight", "text": "Recordsure is used by regulated firms to operationalise governance and resilience requirements, creating clear evidence trails across risk, compliance and operational oversight as supervisory scrutiny increases." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-regulatory-priorities-2026-what-wholesale-firms-need-to-evidence-now/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed in the FCA\u2019s wholesale reports?", "acceptedAnswer": { "@type": "Answer", "text": "The reports replace more than 40 portfolio letters with outcomes-focused supervisory expectations for wholesale markets and wholesale buy-side firms." } }, { "@type": "Question", "name": "What does evidenced operational resilience require?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to evidence scenario testing, incident decision-making, escalation routes, follow-up actions and oversight of outsourced or intra-group providers." } }, { "@type": "Question", "name": "How does the FCA view technology adoption?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA supports innovation but expects proportionate governance, clear accountability, data controls and reviewable evidence where technology affects decisions or oversight." } }, { "@type": "Question", "name": "What should boards prioritise now?", "acceptedAnswer": { "@type": "Answer", "text": "Boards should ensure governance, resilience and technology controls are evidenced, reviewable and visible at board level." } } ] } ] } ``` ### FCA’s Retail Banking regulatory priorities 2026: What firms must evidence - URL: https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/ - Published: 2026-04-23 - Modified: 2026-10-09 **Topic:** Retail banking priorities The FCA’s retail banking priorities shift attention from policy alignment to demonstrable oversight, data and evidence. Retail banks and building societies need traceability across access, outcomes, fraud, resilience and data security. #### Key points - The FCA’s 2026 retail banking report sets a more focused and outcome-driven supervisory agenda. - Access to cash and essential banking services remain a priority despite digital transformation. - Consumer Duty, fraud, financial crime, operational resilience and data security all require board-visible evidence. - Recordsure analytics support interaction oversight, actionable insights, evidence and audit trails. The FCA’s [Regulatory Priorities: Retail Banking report](https://www.fca.org.uk/publication/regulatory-priorities/retail-banking-report.pdf) for 2026 sets out a more focused and outcome-driven supervisory agenda for retail banks and building societies. While many themes will be familiar, the report marks a shift in emphasis from policy alignment and stated intention to demonstrable oversight, data and evidence. Retail banking continues to undergo structural change. Consumers are using branches less, digital and mobile channels more, and business models are diversifying as fintechs and new entrants play a larger role. At the same time, fraud losses, cyber risk and operational dependencies are increasing. Against this backdrop, the FCA has consolidated its expectations into four priority areas that boards and senior executives are expected to review and act on over the next 12 months. Across all four priorities, a consistent regulatory message emerges: firms must be able to show that controls operate effectively in practice and that consumer outcomes are monitored, understood and acted upon. #### Access to cash and essential banking services Despite the pace of digital transformation, the FCA stresses that access to cash and essential banking services remains a core priority. Firms undertaking branch closures or moving to digital-first models are expected to avoid foreseeable consumer harm, particularly for customers who rely on face-to-face services or are less digitally capable. Designated firms are required to fill significant local gaps in cash access in line with the Access to Cash regime and comply with basic bank account obligations. The regulator also highlights the need to ensure that financial crime controls do not result in unnecessary or prolonged account freezing. Increasingly, scrutiny will extend beyond high-level strategy to the evidence supporting individual decisions, including how customer needs were assessed and alternatives evaluated. #### Delivering good outcomes under the Consumer Duty The Consumer Duty underpins the FCA’s second priority: delivering good outcomes from products and services. While the regulator acknowledges progress across the sector, it is clear that many firms still need to strengthen how they monitor and evidence outcomes on an ongoing basis. The FCA expects firms to continue improving the quality of their data, management information and governance arrangements so boards can identify where customers may be experiencing harm, receiving poor value or requiring additional support. Vulnerable customers and those in financial difficulty remain areas of particular focus. As retail banks increasingly deploy automated and AI-enabled tools, the FCA reiterates that innovation must not dilute accountability. Consumer outcomes must remain central to product design, distribution and ongoing monitoring, with firms able to evidence how risks are identified and mitigated in practice. #### Fighting fraud and financial crime Fraud and financial crime remain persistent and evolving threats. The FCA expects retail banks to continuously monitor and refine their controls in response to emerging risks, rather than relying on static frameworks. This includes not only prevention but also how firms support consumers when harm occurs. Fair treatment of fraud victims, prompt remediation of control weaknesses and effective escalation to senior management all form part of the regulator’s expectations. For boards, this reinforces the need for end-to-end visibility over control performance, not just assurance that policies exist. #### Operational resilience and data security Operational resilience and data security complete the FCA’s priority set. Firms are expected to identify their important business services, map critical dependencies, including third parties, and remain within impact tolerances during disruption. Data security is treated as integral to resilience, particularly as digital services and AI-enabled processes scale. Weaknesses in data governance, third-party oversight or incident response capabilities will continue to attract close supervisory attention. #### From intention to proof Taken together, the FCA’s retail banking priorities reinforce the regulator’s direction. Firms are no longer assessed primarily on stated intent or policy alignment, but on their ability to evidence governance, oversight and outcomes at scale. As the FCA becomes more data-led in its supervision, retail banks that can demonstrate traceability, accountability and strong monitoring across customer access, product outcomes, financial crime and operational resilience will be better placed to withstand regulatory scrutiny than those relying on narrative assurance alone. Recordsure’s regulatory-grade AI analytics tools deliver customer interactions oversight and actionable insights supported by evidence and audit trails, giving boards confidence when scrutiny increases. #### Supporting sources - [FCA Regulatory Priorities: Retail Banking report](https://www.fca.org.uk/publication/regulatory-priorities/retail-banking-report.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Retail banks and building societies need traceability across access, outcomes, fraud, resilience and data security.\n\nThe FCA\u2019s Regulatory Priorities: Retail Banking report for 2026 sets out a more focused and outcome-driven supervisory agenda for retail banks and building societies. While many themes will be familiar, the report marks a shift in emphasis from policy alignment and stated intention to demonstrable oversight, data and evidence.\n\nRetail banking continues to undergo structural change. Consumers are using branches less, digital and mobile channels more, and business models are diversifying as fintechs and new entrants play a larger role. At the same time, fraud losses, cyber risk and operational dependencies are increasing. 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Vulnerable customers and those in financial difficulty remain areas of particular focus.\n\nAs retail banks increasingly deploy automated and AI-enabled tools, the FCA reiterates that innovation must not dilute accountability. Consumer outcomes must remain central to product design, distribution and ongoing monitoring, with firms able to evidence how risks are identified and mitigated in practice.\n\nFighting fraud and financial crime\n\nFraud and financial crime remain persistent and evolving threats. The FCA expects retail banks to continuously monitor and refine their controls in response to emerging risks, rather than relying on static frameworks.\n\nThis includes not only prevention but also how firms support consumers when harm occurs. Fair treatment of fraud victims, prompt remediation of control weaknesses and effective escalation to senior management all form part of the regulator\u2019s expectations. 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Against this backdrop, the FCA has consolidated its expectations into four priority areas that boards and senior executives are expected to review and act on over the next 12 months.\n\nAcross all four priorities, a consistent regulatory message emerges: firms must be able to show that controls operate effectively in practice and that consumer outcomes are monitored, understood and acted upon." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "Access to cash and essential banking services", "text": "Despite the pace of digital transformation, the FCA stresses that access to cash and essential banking services remains a core priority. 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Consumer outcomes must remain central to product design, distribution and ongoing monitoring, with firms able to evidence how risks are identified and mitigated in practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "Fighting fraud and financial crime", "text": "Fraud and financial crime remain persistent and evolving threats. The FCA expects retail banks to continuously monitor and refine their controls in response to emerging risks, rather than relying on static frameworks.\n\nThis includes not only prevention but also how firms support consumers when harm occurs. Fair treatment of fraud victims, prompt remediation of control weaknesses and effective escalation to senior management all form part of the regulator\u2019s expectations. For boards, this reinforces the need for end-to-end visibility over control performance, not just assurance that policies exist." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "Operational resilience and data security", "text": "Operational resilience and data security complete the FCA\u2019s priority set. Firms are expected to identify their important business services, map critical dependencies, including third parties, and remain within impact tolerances during disruption.\n\nData security is treated as integral to resilience, particularly as digital services and AI-enabled processes scale. Weaknesses in data governance, third-party oversight or incident response capabilities will continue to attract close supervisory attention." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "From intention to proof", "text": "Taken together, the FCA\u2019s retail banking priorities reinforce the regulator\u2019s direction. Firms are no longer assessed primarily on stated intent or policy alignment, but on their ability to evidence governance, oversight and outcomes at scale.\n\nAs the FCA becomes more data-led in its supervision, retail banks that can demonstrate traceability, accountability and strong monitoring across customer access, product outcomes, financial crime and operational resilience will be better placed to withstand regulatory scrutiny than those relying on narrative assurance alone.\n\nRecordsure\u2019s regulatory-grade AI analytics tools deliver customer interactions oversight and actionable insights supported by evidence and audit trails, giving boards confidence when scrutiny increases." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fcas-retail-banking-regulatory-priorities-2026-what-firms-must-evidence/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA\u2019s retail banking report cover?", "acceptedAnswer": { "@type": "Answer", "text": "It sets expectations for retail banks and building societies across access to cash and services, Consumer Duty outcomes, fraud and financial crime, and operational resilience and data security." } }, { "@type": "Question", "name": "Why is access to cash still a priority?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects firms to avoid foreseeable harm for customers who rely on face-to-face services or are less digitally capable, even as banking becomes more digital." } }, { "@type": "Question", "name": "How does Consumer Duty feature in the priorities?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects firms to improve data, management information and governance so boards can identify harm, poor value and support needs." } }, { "@type": "Question", "name": "What evidence does the FCA expect?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need evidence that controls operate effectively and consumer outcomes are monitored, understood and acted upon across the priority areas." } } ] } ] } ``` ### Year three Consumer Duty board report: five priorities to strengthen outcomes evidence - URL: https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/ - Published: 2026-04-22 - Modified: 2026-10-09 **Topic:** Consumer Duty evidence Year three Consumer Duty Board reports need stronger evidence, traceability, third-party oversight and measurable improvements in customer outcomes. #### Key points - Board reports need to explain what data indicates about outcomes, not just what is tracked. - Firms should evidence specific Board challenge, follow-up and resulting customer improvements. - AI-enabled monitoring can help detect recurring friction, misunderstanding, support gaps and remediation effectiveness. As firms prepare for their [third annual Consumer Duty Board report](https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next), expectations are shifting from demonstrating governance and management information (MI) to evidencing effectiveness and measurable improvements in customer outcomes. Senior leaders and Boards need confidence that what they are signing off is grounded in defensible evidence across products, channels and customer cohorts. For many firms, the challenge is not intent – it is scale and traceability. For instance, how should customer interactions be monitored consistently, emerging risks detected early, whilst maintaining an audit-ready trail from insight to action? This is where AI-enabled monitoring and quality assurance (QA) can strengthen the evidence base for Board reporting. Read our five priorities to refine for your year three report, with practical considerations for how technology can support them. #### 1\. Explain what the data says about outcomes – not just what it tracks Board reports often contain large volumes of Consumer Duty MI but some may stop short of answering the Board’s core questions: what does the data indicate for customer outcomes, where are outcomes weakening and what is being done as a result? Purpose-built (predictive) AI tools can help convert tracking into insight by analysing customer interactions at scale (including recorded customer calls, face-to-face meetings and emails) to identify recurring drivers of friction, misunderstanding, delays and repeat contact. This provides stronger triangulation behind MI and supports a clearer Board-level narrative on what is happening, why it matters, and which interventions are expected to improve outcomes. #### 2\. Make Board challenge visible, specific and outcome-focused In year three, it is increasingly important to evidence not only that the Board reviewed the Consumer Duty report, but that the challenge was targeted, informed and led to change. Generic statements about oversight are unlikely to reassure in an outcomes-focused supervisory environment. AI-enabled QA and monitoring that uses predictive AI analytics can support this by creating structured, comparable evidence of what was reviewed, what issues were found, how they were prioritised and whether remediation was effective. When this evidence is surfaced clearly, Boards can challenge with precision and the report can demonstrate traceable follow-up from challenge to improved outcomes. #### 3\. Strengthen oversight of outcomes delivered through third parties Where distribution chains, appointed representatives (ARs), outsourcers or technology suppliers influence the customer experience, Boards need a realistic view of where visibility is strong, where it is weak, and what the firm is doing to close gaps. It is not enough to acknowledge reliance on third parties. The report should demonstrate how the firm monitors and acts on outcome-related signals. Technology can support scalable oversight by applying consistent monitoring and quality checks across interactions, highlighting exceptions and emerging trends. This helps firms evidence adherence to standards, identify where harm may be introduced in the distribution chain and demonstrate that oversight is active. #### 4\. Deepen analysis of consumer understanding and support across the journey High-level indicators (such as satisfaction, complaints and persistency) can be useful, but they rarely explain whether customers are genuinely understanding key information and getting the support they need – especially at moments of change, stress or vulnerability. Using predictive AI analytics tools, firms can add depth by analysing interaction content and journey signals to identify themes such as confusion, misaligned expectations, disclosure gaps, repeat explanations, and delays in getting help. Used well, this supports stronger testing and monitoring. In turn, this means the Board report can evidence where communications and support are working, where they are not and what changes are being made to improve outcomes for different customer groups. #### 5\. Show how Consumer Duty insight is shaping decisions and improving outcomes The most credible Board reports demonstrate a clear chain. For example, monitoring to identify risks or weak outcomes > management intervenes > the firm can evidence whether outcomes improved. Reports that describe frameworks without showing the impact of decisions will struggle to meet rising regulatory expectations. Purpose-built AI models for monitoring and QA can strengthen this insight-to-action chain by detecting issues earlier, quantifying their scale, and supporting consistent post-remediation testing. That makes it easier to evidence to the Board not just what the firm decided, but why, and most importantly, what changed for customers afterwards. #### Build audit-ready evidence base for year three As Consumer Duty supervision becomes more outcomes-focused, Boards will benefit from reporting that is concise, evidence-led and clear on impact. Refining the five priorities above can help firms move beyond describing activity to demonstrating effectiveness. Recordsure provides proprietary AI technology to help financial services firms monitor interactions at scale, strengthen QA and provide a strong audit trail to evidence actions and outcomes. This can lead to supporting stronger governance and more confident Board reporting. #### Supporting sources - [FCA blog on year two Consumer Duty Board reports](https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Year three Consumer Duty board report: five priorities to strengthen outcomes evidence", "item": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/", "name": "Year three Consumer Duty board report: five priorities to strengthen outcomes evidence", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-22T13:19:51+01:00", "dateModified": "2026-04-22T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-22" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Year three Consumer Duty board report: five priorities to strengthen outcomes evidence", "datePublished": "2026-04-22T13:19:51+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c32e0f28c6ae43e9a0b506e364de39a0/thumbnail-1024-3e172b7ebdb4a8778ec969f22024c29077e2f8007ea127dbca83f9c209740cef.jpg", "description": "For year three Consumer Duty reporting, firms need to move beyond governance MI and show evidence of effectiveness, Board challenge and improved customer outcomes.", "inLanguage": "en-GB", "articleBody": "Year three Consumer Duty Board reports need stronger evidence, traceability, third-party oversight and measurable improvements in customer outcomes.\n\nAs firms prepare for their third annual Consumer Duty Board report, expectations are shifting from demonstrating governance and management information (MI) to evidencing effectiveness and measurable improvements in customer outcomes.\n\nSenior leaders and Boards need confidence that what they are signing off is grounded in defensible evidence across products, channels and customer cohorts.\n\nFor many firms, the challenge is not intent \u2013 it is scale and traceability. For instance, how should customer interactions be monitored consistently, emerging risks detected early, whilst maintaining an audit-ready trail from insight to action? This is where AI-enabled monitoring and quality assurance (QA) can strengthen the evidence base for Board reporting.\n\nRead our five priorities to refine for your year three report, with practical considerations for how technology can support them.\n\n1. Explain what the data says about outcomes \u2013 not just what it tracks\n\nBoard reports often contain large volumes of Consumer Duty MI but some may stop short of answering the Board\u2019s core questions: what does the data indicate for customer outcomes, where are outcomes weakening and what is being done as a result?\n\nPurpose-built (predictive) AI tools can help convert tracking into insight by analysing customer interactions at scale (including recorded customer calls, face-to-face meetings and emails) to identify recurring drivers of friction, misunderstanding, delays and repeat contact. This provides stronger triangulation behind MI and supports a clearer Board-level narrative on what is happening, why it matters, and which interventions are expected to improve outcomes.\n\n2. Make Board challenge visible, specific and outcome-focused\n\nIn year three, it is increasingly important to evidence not only that the Board reviewed the Consumer Duty report, but that the challenge was targeted, informed and led to change. Generic statements about oversight are unlikely to reassure in an outcomes-focused supervisory environment.\n\nAI-enabled QA and monitoring that uses predictive AI analytics can support this by creating structured, comparable evidence of what was reviewed, what issues were found, how they were prioritised and whether remediation was effective. When this evidence is surfaced clearly, Boards can challenge with precision and the report can demonstrate traceable follow-up from challenge to improved outcomes.\n\n3. Strengthen oversight of outcomes delivered through third parties\n\nWhere distribution chains, appointed representatives (ARs), outsourcers or technology suppliers influence the customer experience, Boards need a realistic view of where visibility is strong, where it is weak, and what the firm is doing to close gaps. It is not enough to acknowledge reliance on third parties. The report should demonstrate how the firm monitors and acts on outcome-related signals.\n\nTechnology can support scalable oversight by applying consistent monitoring and quality checks across interactions, highlighting exceptions and emerging trends. This helps firms evidence adherence to standards, identify where harm may be introduced in the distribution chain and demonstrate that oversight is active.\n\n4. Deepen analysis of consumer understanding and support across the journey\n\nHigh-level indicators (such as satisfaction, complaints and persistency) can be useful, but they rarely explain whether customers are genuinely understanding key information and getting the support they need \u2013 especially at moments of change, stress or vulnerability.\n\nUsing predictive AI analytics tools, firms can add depth by analysing interaction content and journey signals to identify themes such as confusion, misaligned expectations, disclosure gaps, repeat explanations, and delays in getting help. Used well, this supports stronger testing and monitoring. In turn, this means the Board report can evidence where communications and support are working, where they are not and what changes are being made to improve outcomes for different customer groups.\n\n5. Show how Consumer Duty insight is shaping decisions and improving outcomes\n\nThe most credible Board reports demonstrate a clear chain. For example, monitoring to identify risks or weak outcomes > management intervenes > the firm can evidence whether outcomes improved. Reports that describe frameworks without showing the impact of decisions will struggle to meet rising regulatory expectations.\n\nPurpose-built AI models for monitoring and QA can strengthen this insight-to-action chain by detecting issues earlier, quantifying their scale, and supporting consistent post-remediation testing. That makes it easier to evidence to the Board not just what the firm decided, but why, and most importantly, what changed for customers afterwards.\n\nBuild audit-ready evidence base for year three\n\nAs Consumer Duty supervision becomes more outcomes-focused, Boards will benefit from reporting that is concise, evidence-led and clear on impact. Refining the five priorities above can help firms move beyond describing activity to demonstrating effectiveness.\n\nRecordsure provides proprietary AI technology to help financial services firms monitor interactions at scale, strengthen QA and provide a strong audit trail to evidence actions and outcomes. This can lead to supporting stronger governance and more confident Board reporting.", "wordCount": 789, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-7" } ], "about": [ { "@type": "Thing", "name": "Consumer Duty evidence" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA blog on year two Consumer Duty Board reports", "url": "https://www.fca.org.uk/news/blogs/year-2-consumer-duty-board-reports-progress-and-what-comes-next" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "text": "As firms prepare for their third annual Consumer Duty Board report, expectations are shifting from demonstrating governance and management information (MI) to evidencing effectiveness and measurable improvements in customer outcomes.\n\nSenior leaders and Boards need confidence that what they are signing off is grounded in defensible evidence across products, channels and customer cohorts.\n\nFor many firms, the challenge is not intent \u2013 it is scale and traceability. For instance, how should customer interactions be monitored consistently, emerging risks detected early, whilst maintaining an audit-ready trail from insight to action? This is where AI-enabled monitoring and quality assurance (QA) can strengthen the evidence base for Board reporting.\n\nRead our five priorities to refine for your year three report, with practical considerations for how technology can support them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "1. Explain what the data says about outcomes \u2013 not just what it tracks", "text": "Board reports often contain large volumes of Consumer Duty MI but some may stop short of answering the Board\u2019s core questions: what does the data indicate for customer outcomes, where are outcomes weakening and what is being done as a result?\n\nPurpose-built (predictive) AI tools can help convert tracking into insight by analysing customer interactions at scale (including recorded customer calls, face-to-face meetings and emails) to identify recurring drivers of friction, misunderstanding, delays and repeat contact. This provides stronger triangulation behind MI and supports a clearer Board-level narrative on what is happening, why it matters, and which interventions are expected to improve outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "2. Make Board challenge visible, specific and outcome-focused", "text": "In year three, it is increasingly important to evidence not only that the Board reviewed the Consumer Duty report, but that the challenge was targeted, informed and led to change. Generic statements about oversight are unlikely to reassure in an outcomes-focused supervisory environment.\n\nAI-enabled QA and monitoring that uses predictive AI analytics can support this by creating structured, comparable evidence of what was reviewed, what issues were found, how they were prioritised and whether remediation was effective. When this evidence is surfaced clearly, Boards can challenge with precision and the report can demonstrate traceable follow-up from challenge to improved outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "3. Strengthen oversight of outcomes delivered through third parties", "text": "Where distribution chains, appointed representatives (ARs), outsourcers or technology suppliers influence the customer experience, Boards need a realistic view of where visibility is strong, where it is weak, and what the firm is doing to close gaps. It is not enough to acknowledge reliance on third parties. The report should demonstrate how the firm monitors and acts on outcome-related signals.\n\nTechnology can support scalable oversight by applying consistent monitoring and quality checks across interactions, highlighting exceptions and emerging trends. This helps firms evidence adherence to standards, identify where harm may be introduced in the distribution chain and demonstrate that oversight is active." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "4. Deepen analysis of consumer understanding and support across the journey", "text": "High-level indicators (such as satisfaction, complaints and persistency) can be useful, but they rarely explain whether customers are genuinely understanding key information and getting the support they need \u2013 especially at moments of change, stress or vulnerability.\n\nUsing predictive AI analytics tools, firms can add depth by analysing interaction content and journey signals to identify themes such as confusion, misaligned expectations, disclosure gaps, repeat explanations, and delays in getting help. Used well, this supports stronger testing and monitoring. 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Reports that describe frameworks without showing the impact of decisions will struggle to meet rising regulatory expectations.\n\nPurpose-built AI models for monitoring and QA can strengthen this insight-to-action chain by detecting issues earlier, quantifying their scale, and supporting consistent post-remediation testing. That makes it easier to evidence to the Board not just what the firm decided, but why, and most importantly, what changed for customers afterwards." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "headline": "Build audit-ready evidence base for year three", "text": "As Consumer Duty supervision becomes more outcomes-focused, Boards will benefit from reporting that is concise, evidence-led and clear on impact. Refining the five priorities above can help firms move beyond describing activity to demonstrating effectiveness.\n\nRecordsure provides proprietary AI technology to help financial services firms monitor interactions at scale, strengthen QA and provide a strong audit trail to evidence actions and outcomes. This can lead to supporting stronger governance and more confident Board reporting." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/year-three-consumer-duty-board-report-five-priorities-to-strengthen-outcomes-evidence/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is changing for year three Consumer Duty Board reports?", "acceptedAnswer": { "@type": "Answer", "text": "Expectations are shifting from demonstrating governance and MI to evidencing effectiveness and measurable improvements in customer outcomes." } }, { "@type": "Question", "name": "What should Board reports explain about data?", "acceptedAnswer": { "@type": "Answer", "text": "They should explain what data indicates for customer outcomes, where outcomes are weakening and what action is being taken." } }, { "@type": "Question", "name": "Why does third-party oversight matter?", "acceptedAnswer": { "@type": "Answer", "text": "Distribution chains, ARs, outsourcers and technology suppliers can influence customer experience, so Boards need visibility over related outcomes." } }, { "@type": "Question", "name": "How can AI-enabled QA support reporting?", "acceptedAnswer": { "@type": "Answer", "text": "It can create structured evidence of reviewed interactions, issues found, prioritisation and whether remediation was effective." } } ] } ] } ``` ### FCA Insurance Regulatory Priorities report: key impacts for insurers and intermediaries - URL: https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/ - Published: 2026-04-22 - Modified: 2026-10-09 **Topic:** Insurance priorities The FCA’s insurance priorities shift attention from policy intent to evidence of consumer outcomes, claims quality, governance and oversight. Insurance leaders need reliable MI across products, claims and delegated arrangements. #### Key points - The FCA’s report replaces more than 40 portfolio letters with a central annual reference for insurance boards and senior executives. - Firms with consistent evidence of good outcomes may face lighter supervision; weak evidence can prompt earlier FCA action. - Claims handling, consumer understanding, outsourced arrangements, access, innovation and board-visible MI all need stronger evidence. - Recordsure supports gap assessments, governance design, specialist resourcing and data-led assurance for regulated insurance firms. In February, the FCA published its first [Regulatory Priorities report for the insurance sector](https://www.fca.org.uk/publication/regulatory-priorities/insurance-report.pdf), marking a significant shift in how supervisory expectations are communicated. The report replaces over 40 portfolio letters and is intended to become the FCA’s central annual reference point for boards and senior executives across retail and wholesale insurers, intermediaries, price comparison websites, life insurers and funeral plan providers. The FCA signals a more differentiated supervisory approach. Firms that can evidence consistently good consumer outcomes may see a lighter touch, while those unable to do so should expect earlier and more assertive action. For insurance leaders, the report is not a passive update but a call to review, evidence and, where needed, recalibrate how firms are governed, managed and monitored. #### A sector under continued scrutiny Insurance remains central to the UK economy and household financial resilience, yet the FCA is explicit that persistent weaknesses remain, particularly in claims handling, consumer understanding and service quality. Poor outcomes at the point of claim remain a central regulatory concern. In its Insurance Regulatory Priorities report, the regulator highlights continued supervisory and enforcement focus on claims handling and service quality, particularly in home and travel insurance, and confirms that this work builds directly on its response to the Which? super-complaint. Firms must demonstrate that claims processes consistently deliver fair, timely and transparent outcomes for consumers. Alongside this, the FCA is sharpening its focus on oversight, data and evidence. The regulator expects boards to demonstrate, not assume, that products deliver what they promise, and that outsourced and delegated arrangements are properly governed. #### The FCA’s four regulatory priorities for insurance The report groups the FCA’s insurance focus into four priorities: improving consumer understanding, claims handling and service quality; increasing access to insurance; supporting growth and innovation; and simplifying regulation and supervision. On consumer understanding, claims handling and service quality, the FCA says too many consumers still struggle to understand their cover and experience avoidable friction and delay when making claims. Firms are expected to ensure communications are clear at every stage of the journey and that claims are handled promptly, fairly and transparently, in line with Consumer Duty outcomes. A key escalation is the expanded scrutiny of outsourced and delegated claims arrangements. The FCA will assess whether boards have appropriate oversight, governance, remuneration controls and management information across third-party and delegated authority models, where weaknesses have historically been difficult to evidence and challenge. #### Increasing access to insurance Access to suitable insurance is framed as essential to consumer resilience. The FCA expects firms to consider how products, pricing, distribution and underwriting decisions may be excluding vulnerable or underserved consumers, and to engage with wider government and industry initiatives aimed at improving inclusion. Access is not positioned as a trade-off against conduct. Firms must show that expanded access remains compatible with fair value, suitability and sustainable outcomes. #### Supporting growth and innovation The FCA continues to emphasise that it supports sustainable growth and innovation, provided they are underpinned by appropriate governance, data controls and risk management. Firms are encouraged to engage with the FCA’s Innovation Hub and to modernise operations where this improves efficiency and outcomes. For insurance leaders, innovation must be matched with clear accountability, reliable decision-making and the ability to evidence how new propositions support Consumer Duty objectives. #### Simplifying regulation and supervision The FCA aims to be a **“smarter regulator”**: predictable, proportionate and risk-based. Firms demonstrating good governance, culture and reliable management information can expect less intensive supervision over time. However, simplification places greater responsibility on firms themselves. Boards are expected to interpret the priorities, assess applicability across their business models and act where gaps exist. #### What this means for boards and senior executives Across the insurance market, the direction of travel is consistent: **assurance is shifting from policy compliance to outcome evidence**. Senior leaders need confidence that oversight frameworks genuinely reflect what is happening across product design, sales journeys, claims and third-party arrangements. This is particularly challenging in insurance, where data, processes and accountability are often fragmented across lines of business, legacy platforms and outsourced partners. Without clear, trusted management information, firms risk being unable to demonstrate that they are delivering good outcomes, even where intent is sound. #### What firms should be doing now Based on the FCA’s priorities, insurance firms should consider: - Reviewing claims handling and consumer understanding through the lens of Consumer Duty outcomes, not legacy process metrics. - Mapping outsourced and delegated authority arrangements and testing whether governance, MI and remuneration structures genuinely enable effective oversight. - Assessing whether access or exclusion risks exist within underwriting, pricing or distribution models, and whether these are understood at board level. - Ensuring innovation and growth strategies are supported by proportionate but strong governance and data controls. - Challenging whether current board and executive information provides a reliable, joined-up view of consumer outcomes across the full insurance lifecycle. #### How Recordsure supports insurance firms Recordsure works with boards, executives and regulated functions to bridge the gap between regulatory expectations and operational reality. Support includes: - **Targeted regulatory gap assessments** aligned to FCA sector priorities and Consumer Duty outcomes. - **Operating model and governance design**, ensuring oversight frameworks are proportionate, scalable and defensible. - **Interim executive and specialist resourcing**, supporting claims transformation, governance remediation and oversight roles where capacity or experience is constrained. - **Data-led assurance and MI design**, helping firms evidence outcomes across complex and outsourced environments. Where firms need to move quickly, whether to respond to supervisory engagement, strengthen claims oversight or prepare for increased scrutiny, Recordsure provides experienced leadership and practical delivery support from day one. #### Supporting sources - [Regulatory Priorities report for the insurance sector](https://www.fca.org.uk/publication/regulatory-priorities/insurance-report.pdf) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA Insurance Regulatory Priorities report: key impacts for insurers and intermediaries", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/", "name": "FCA Insurance Regulatory Priorities report: key impacts for insurers and intermediaries", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-22T08:41:03+01:00", "dateModified": "2026-04-22T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-22" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA Insurance Regulatory Priorities report: key impacts for insurers and intermediaries", "datePublished": "2026-04-22T08:41:03+01:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1b3b61ee9e7b4efc896f0d62db82edb5/thumbnail-1024-55be4db07564e41faa6fd077feb4dc3d0eac3daaa447d1d3f54ac114d8731a70.jpg", "description": "The FCA\u2019s insurance priorities require boards to evidence claims oversight, Consumer Duty outcomes, access decisions, innovation controls and third-party governance across complex operating models.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s insurance priorities shift attention from policy intent to evidence of consumer outcomes, claims quality, governance and oversight. Insurance leaders need reliable MI across products, claims and delegated arrangements.\n\nIn February, the FCA published its first Regulatory Priorities report for the insurance sector, marking a significant shift in how supervisory expectations are communicated. The report replaces over 40 portfolio letters and is intended to become the FCA\u2019s central annual reference point for boards and senior executives across retail and wholesale insurers, intermediaries, price comparison websites, life insurers and funeral plan providers.\n\nThe FCA signals a more differentiated supervisory approach. Firms that can evidence consistently good consumer outcomes may see a lighter touch, while those unable to do so should expect earlier and more assertive action. For insurance leaders, the report is not a passive update but a call to review, evidence and, where needed, recalibrate how firms are governed, managed and monitored.\n\nA sector under continued scrutiny\n\nInsurance remains central to the UK economy and household financial resilience, yet the FCA is explicit that persistent weaknesses remain, particularly in claims handling, consumer understanding and service quality. Poor outcomes at the point of claim remain a central regulatory concern.\n\nIn its Insurance Regulatory Priorities report, the regulator highlights continued supervisory and enforcement focus on claims handling and service quality, particularly in home and travel insurance, and confirms that this work builds directly on its response to the Which? super-complaint. Firms must demonstrate that claims processes consistently deliver fair, timely and transparent outcomes for consumers.\n\nAlongside this, the FCA is sharpening its focus on oversight, data and evidence. The regulator expects boards to demonstrate, not assume, that products deliver what they promise, and that outsourced and delegated arrangements are properly governed.\n\nThe FCA\u2019s four regulatory priorities for insurance\n\nThe report groups the FCA\u2019s insurance focus into four priorities: improving consumer understanding, claims handling and service quality; increasing access to insurance; supporting growth and innovation; and simplifying regulation and supervision.\n\nOn consumer understanding, claims handling and service quality, the FCA says too many consumers still struggle to understand their cover and experience avoidable friction and delay when making claims. Firms are expected to ensure communications are clear at every stage of the journey and that claims are handled promptly, fairly and transparently, in line with Consumer Duty outcomes.\n\nA key escalation is the expanded scrutiny of outsourced and delegated claims arrangements. The FCA will assess whether boards have appropriate oversight, governance, remuneration controls and management information across third-party and delegated authority models, where weaknesses have historically been difficult to evidence and challenge.\n\nIncreasing access to insurance\n\nAccess to suitable insurance is framed as essential to consumer resilience. The FCA expects firms to consider how products, pricing, distribution and underwriting decisions may be excluding vulnerable or underserved consumers, and to engage with wider government and industry initiatives aimed at improving inclusion.\n\nAccess is not positioned as a trade-off against conduct. Firms must show that expanded access remains compatible with fair value, suitability and sustainable outcomes.\n\nSupporting growth and innovation\n\nThe FCA continues to emphasise that it supports sustainable growth and innovation, provided they are underpinned by appropriate governance, data controls and risk management. Firms are encouraged to engage with the FCA\u2019s Innovation Hub and to modernise operations where this improves efficiency and outcomes.\n\nFor insurance leaders, innovation must be matched with clear accountability, reliable decision-making and the ability to evidence how new propositions support Consumer Duty objectives.\n\nSimplifying regulation and supervision\n\nThe FCA aims to be a \u201csmarter regulator\u201d: predictable, proportionate and risk-based. Firms demonstrating good governance, culture and reliable management information can expect less intensive supervision over time.\n\nHowever, simplification places greater responsibility on firms themselves. Boards are expected to interpret the priorities, assess applicability across their business models and act where gaps exist.\n\nWhat this means for boards and senior executives\n\nAcross the insurance market, the direction of travel is consistent: assurance is shifting from policy compliance to outcome evidence. Senior leaders need confidence that oversight frameworks genuinely reflect what is happening across product design, sales journeys, claims and third-party arrangements.\n\nThis is particularly challenging in insurance, where data, processes and accountability are often fragmented across lines of business, legacy platforms and outsourced partners. Without clear, trusted management information, firms risk being unable to demonstrate that they are delivering good outcomes, even where intent is sound.\n\nWhat firms should be doing now\n\nBased on the FCA\u2019s priorities, insurance firms should consider:\n\n\u2022 Reviewing claims handling and consumer understanding through the lens of Consumer Duty outcomes, not legacy process metrics.\n\u2022 Mapping outsourced and delegated authority arrangements and testing whether governance, MI and remuneration structures genuinely enable effective oversight.\n\u2022 Assessing whether access or exclusion risks exist within underwriting, pricing or distribution models, and whether these are understood at board level.\n\u2022 Ensuring innovation and growth strategies are supported by proportionate but strong governance and data controls.\n\u2022 Challenging whether current board and executive information provides a reliable, joined-up view of consumer outcomes across the full insurance lifecycle.\n\nHow Recordsure supports insurance firms\n\nRecordsure works with boards, executives and regulated functions to bridge the gap between regulatory expectations and operational reality.\n\nSupport includes:\n\n\u2022 Targeted regulatory gap assessments aligned to FCA sector priorities and Consumer Duty outcomes.\n\u2022 Operating model and governance design, ensuring oversight frameworks are proportionate, scalable and defensible.\n\u2022 Interim executive and specialist resourcing, supporting claims transformation, governance remediation and oversight roles where capacity or experience is constrained.\n\u2022 Data-led assurance and MI design, helping firms evidence outcomes across complex and outsourced environments.\n\nWhere firms need to move quickly, whether to respond to supervisory engagement, strengthen claims oversight or prepare for increased scrutiny, Recordsure provides experienced leadership and practical delivery support from day one.", "wordCount": 955, "keywords": [ "Government", "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Insurance priorities" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-8" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-9" } ], "citation": [ { "@type": "CreativeWork", "name": "Regulatory Priorities report for the insurance sector", "url": "https://www.fca.org.uk/publication/regulatory-priorities/insurance-report.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "text": "In February, the FCA published its first Regulatory Priorities report for the insurance sector, marking a significant shift in how supervisory expectations are communicated. The report replaces over 40 portfolio letters and is intended to become the FCA\u2019s central annual reference point for boards and senior executives across retail and wholesale insurers, intermediaries, price comparison websites, life insurers and funeral plan providers.\n\nThe FCA signals a more differentiated supervisory approach. Firms that can evidence consistently good consumer outcomes may see a lighter touch, while those unable to do so should expect earlier and more assertive action. For insurance leaders, the report is not a passive update but a call to review, evidence and, where needed, recalibrate how firms are governed, managed and monitored." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "A sector under continued scrutiny", "text": "Insurance remains central to the UK economy and household financial resilience, yet the FCA is explicit that persistent weaknesses remain, particularly in claims handling, consumer understanding and service quality. Poor outcomes at the point of claim remain a central regulatory concern.\n\nIn its Insurance Regulatory Priorities report, the regulator highlights continued supervisory and enforcement focus on claims handling and service quality, particularly in home and travel insurance, and confirms that this work builds directly on its response to the Which? super-complaint. Firms must demonstrate that claims processes consistently deliver fair, timely and transparent outcomes for consumers.\n\nAlongside this, the FCA is sharpening its focus on oversight, data and evidence. The regulator expects boards to demonstrate, not assume, that products deliver what they promise, and that outsourced and delegated arrangements are properly governed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA\u2019s four regulatory priorities for insurance", "text": "The report groups the FCA\u2019s insurance focus into four priorities: improving consumer understanding, claims handling and service quality; increasing access to insurance; supporting growth and innovation; and simplifying regulation and supervision.\n\nOn consumer understanding, claims handling and service quality, the FCA says too many consumers still struggle to understand their cover and experience avoidable friction and delay when making claims. Firms are expected to ensure communications are clear at every stage of the journey and that claims are handled promptly, fairly and transparently, in line with Consumer Duty outcomes.\n\nA key escalation is the expanded scrutiny of outsourced and delegated claims arrangements. The FCA will assess whether boards have appropriate oversight, governance, remuneration controls and management information across third-party and delegated authority models, where weaknesses have historically been difficult to evidence and challenge." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "Increasing access to insurance", "text": "Access to suitable insurance is framed as essential to consumer resilience. The FCA expects firms to consider how products, pricing, distribution and underwriting decisions may be excluding vulnerable or underserved consumers, and to engage with wider government and industry initiatives aimed at improving inclusion.\n\nAccess is not positioned as a trade-off against conduct. Firms must show that expanded access remains compatible with fair value, suitability and sustainable outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "Supporting growth and innovation", "text": "The FCA continues to emphasise that it supports sustainable growth and innovation, provided they are underpinned by appropriate governance, data controls and risk management. Firms are encouraged to engage with the FCA\u2019s Innovation Hub and to modernise operations where this improves efficiency and outcomes.\n\nFor insurance leaders, innovation must be matched with clear accountability, reliable decision-making and the ability to evidence how new propositions support Consumer Duty objectives." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "Simplifying regulation and supervision", "text": "The FCA aims to be a \u201csmarter regulator\u201d: predictable, proportionate and risk-based. Firms demonstrating good governance, culture and reliable management information can expect less intensive supervision over time.\n\nHowever, simplification places greater responsibility on firms themselves. Boards are expected to interpret the priorities, assess applicability across their business models and act where gaps exist." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "What this means for boards and senior executives", "text": "Across the insurance market, the direction of travel is consistent: assurance is shifting from policy compliance to outcome evidence. Senior leaders need confidence that oversight frameworks genuinely reflect what is happening across product design, sales journeys, claims and third-party arrangements.\n\nThis is particularly challenging in insurance, where data, processes and accountability are often fragmented across lines of business, legacy platforms and outsourced partners. Without clear, trusted management information, firms risk being unable to demonstrate that they are delivering good outcomes, even where intent is sound." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "What firms should be doing now", "text": "Based on the FCA\u2019s priorities, insurance firms should consider:\n\n\u2022 Reviewing claims handling and consumer understanding through the lens of Consumer Duty outcomes, not legacy process metrics.\n\u2022 Mapping outsourced and delegated authority arrangements and testing whether governance, MI and remuneration structures genuinely enable effective oversight.\n\u2022 Assessing whether access or exclusion risks exist within underwriting, pricing or distribution models, and whether these are understood at board level.\n\u2022 Ensuring innovation and growth strategies are supported by proportionate but strong governance and data controls.\n\u2022 Challenging whether current board and executive information provides a reliable, joined-up view of consumer outcomes across the full insurance lifecycle." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure supports insurance firms", "text": "Recordsure works with boards, executives and regulated functions to bridge the gap between regulatory expectations and operational reality.\n\nSupport includes:\n\n\u2022 Targeted regulatory gap assessments aligned to FCA sector priorities and Consumer Duty outcomes.\n\u2022 Operating model and governance design, ensuring oversight frameworks are proportionate, scalable and defensible.\n\u2022 Interim executive and specialist resourcing, supporting claims transformation, governance remediation and oversight roles where capacity or experience is constrained.\n\u2022 Data-led assurance and MI design, helping firms evidence outcomes across complex and outsourced environments.\n\nWhere firms need to move quickly, whether to respond to supervisory engagement, strengthen claims oversight or prepare for increased scrutiny, Recordsure provides experienced leadership and practical delivery support from day one." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-insurance-regulatory-priorities-report-key-impacts-for-insurers-and-intermediaries/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed in the FCA\u2019s insurance priorities report?", "acceptedAnswer": { "@type": "Answer", "text": "The report replaced over 40 portfolio letters with a central annual reference point for insurance boards and senior executives." } }, { "@type": "Question", "name": "Why does claims oversight matter in the report?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA highlights persistent weaknesses in claims handling, consumer understanding and service quality, especially where consumers experience friction, delay or poor outcomes at claim stage." } }, { "@type": "Question", "name": "What evidence should insurance boards expect to provide?", "acceptedAnswer": { "@type": "Answer", "text": "Boards should be able to evidence product outcomes, claims performance, outsourced and delegated authority oversight, innovation controls and reliable management information." } }, { "@type": "Question", "name": "How can Recordsure support insurance firms?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure supports regulatory gap assessments, governance design, specialist resourcing and data-led assurance to help firms evidence outcomes across complex and outsourced environments." } } ] } ] } ``` ### AI in financial services: FCA scrutiny, governance and evidencing outcomes - URL: https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/ - Published: 2026-04-21 - Modified: 2026-10-09 **Topic:** AI evidence Regulated AI needs trusted data, traceability and defensible evidence. General-purpose GenAI differs from predictive AI built around structured, regulator-ready data. #### Key points - AI is now embedded in fraud detection, onboarding, suitability assessments and monitoring consumer outcomes. - Policy support for AI is increasing alongside clearer regulatory expectations for governance and evidence. - Firms struggle most after deployment, when explainability, audit trails and accountability become operational issues. - Recordsure technology converts interactions into structured data for MI, audit trails and supervisory engagement. AI is no longer experimental in financial services. Across advice, banking, insurance and credit, it is embedded in live processes, from fraud detection and onboarding to suitability assessments and monitoring consumer outcomes. Adoption has accelerated quickly, often faster than regulatory certainty. UK policymakers have backed AI as a driver of productivity and growth, reflected in the Government’s [AI Opportunities Action Plan](https://www.gov.uk/government/publications/ai-opportunities-action-plan/ai-opportunities-action-plan). Alongside these developments, regulators are providing more explicit guidance on AI governance and evidencing outcomes, signalling an evolving policy and regulatory landscape. In its [2026–27 Annual Work Programme](https://www.fca.org.uk/publications/annual-work-programmes/2026-27), the FCA sets out plans to become a more data-led regulator, including using AI in supervision to detect harm, review firm submissions and support faster decision-making. Parliamentary interest has also increased, with the [Treasury Select Committee examining AI adoption and risk management](https://publications.parliament.uk/pa/cm5901/cmselect/cmtreasy/684/report.html) across the sector. Attention is moving from capability to proof: can firms evidence control, auditability, accountability and outcomes? That is why technology is no longer optional. #### Adoption at scale with uneven governance Large financial services firms are already widely using AI. The Treasury Select Committee’s recent inquiry underlines how common adoption has become, while also showing that governance maturity varies significantly. Many firms continue to rely on control frameworks designed for deterministic systems, where decision paths are easier to explain and challenge. As AI becomes more complex and more deeply embedded, those approaches are being stretched. Consumer Duty, SM&CR and operational resilience still apply, but applying them to AI-driven decisions raises new questions about oversight, documentation and evidencing. #### Where firms struggle: explainability, audit trail and evidencing The hardest issues tend to appear after deployment, when AI is scaled and relied on for business-critical processes. Fairness, explainability, oversight and accountability move quickly from theory into day-to-day reality. This is most acute when general-purpose tools are used in contexts that require regulatory-grade evidence. That is where the real gap sits. #### Regulatory-grade AI needs traceability, not just capability As firms move beyond experimentation and try to operationalise AI, a more fundamental constraint becomes clear. In most cases, the limiting factor is not AI capability, but the combination of generative AI tools and the quality, consistency and reliability of the underlying data. Mainstream GenAI and LLM-based tools are effective at text extraction, summarisation and surface-level pattern recognition. They can turn large volumes of content into more digestible content. However, they are not designed to support regulated decision-making. They do not inherently understand what financial advice data represents, how values relate to one another, or why one data point should be trusted over another. These models often struggle to provide the explainability, traceability and auditability regulators expect. They can silently resolve conflicts, obscure data lineage and produce outputs that sound confident even when incomplete or wrong. Firms can therefore end up increasing human oversight rather than reducing it, spending more time validating outputs, resolving inconsistencies and evidencing compliance. By contrast, purpose-built predictive AI models for analytics and prediction are designed around structured, trusted data. They are trained to understand how advice data is created, how it changes over time and when it must be corrected rather than inferred. This supports predictive analysis, consistent MI and defensible insights that can be traced back to source material and explained to regulators. The more reliable, explainable and auditable the data foundation becomes, the more safely AI can be applied. In regulated environments, value does not come from applying GenAI and LLM models to unstructured data, but from combining selective GenAI capabilities with predictive AI operating on trusted, regulator-ready data. That is what allows automation to scale and risk to come down. #### FCA expectations: outcomes, governance and supervisory evidence Regulatory engagement is becoming more hands-on and outcome-focused. [The FCA’s Mills Review indicates a preference for testing](https://www.fca.org.uk/publications/calls-input/review-long-term-impact-ai-retail-financial-services-mills-review) whether existing regimes remain fit for purpose as AI becomes more embedded, rather than rewriting the rulebook entirely. The [Critical Third Parties regime](https://www.fca.org.uk/publications/policy-statements/ps24-16-operational-resilience-critical-third-parties-uk-financial-sector) reinforces a growing focus on systemic technology dependencies and data integrity across the wider AI ecosystem. Joe Norburn, CEO of TCC Group and Recordsure, summarises the practical challenge: > Regulators aren’t asking firms to slow down innovation – they’re asking them to show control. That means being able to explain how decisions are made, evidence outcomes, and demonstrate accountability long after AI systems are live and scaled. #### What to do now: build evidence before scrutiny increases Supervisory expectations are still evolving, but the emphasis on evidence is increasing. Investing now in data foundations and regulator-ready reporting supports stronger control as AI use expands. **In regulated environments, how AI is built and governed matters more than how impressive it looks.** Trusted data and defensible evidence are what make AI scalable. When outcomes can be traced back to the source and supported by reliable MI, oversight improves without increasing risk. #### How Recordsure helps evidence AI decisions Recordsure technology is purpose-built for regulated environments where auditability, traceability and defensible outcomes matter. It uses proprietary predictive AI analytics tools to convert advice and servicing interactions into structured, trusted data so firms can produce consistent MI, evidence how decisions were reached and maintain an audit trail that supports governance and supervisory engagement over time. A Recordsure technology walkthrough can show how operational efficiency and regulatory oversight scale together. #### Supporting sources - [AI Opportunities Action Plan](https://www.gov.uk/government/publications/ai-opportunities-action-plan/ai-opportunities-action-plan) - [FCA 2026–27 Annual Work Programme](https://www.fca.org.uk/publications/annual-work-programmes/2026-27) - [Treasury Select Committee report on AI in financial services](https://publications.parliament.uk/pa/cm5901/cmselect/cmtreasy/684/report.html) - [FCA Mills Review](https://www.fca.org.uk/publications/calls-input/review-long-term-impact-ai-retail-financial-services-mills-review) - [Critical Third Parties regime](https://www.fca.org.uk/publications/policy-statements/ps24-16-operational-resilience-critical-third-parties-uk-financial-sector) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI in financial services: FCA scrutiny, governance and evidencing outcomes", "item": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/", "name": "AI in financial services: FCA scrutiny, governance and evidencing outcomes", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-21T09:07:36+01:00", "dateModified": "2026-04-22T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-22" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI in financial services: FCA scrutiny, governance and evidencing outcomes", "datePublished": "2026-04-21T09:07:36+01:00", "dateModified": "2026-10-09T04:50:05+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a0020f0dc83544b0ab7ea12b44e016a8/thumbnail-1600-224860554cdf3cf6aef34902b370656df2fd42e6406e987c3c15b28c05939538.jpg", "description": "FCA scrutiny is moving AI in financial services from capability to proof, requiring governance, auditability, accountability and outcome evidence as adoption scales.", "inLanguage": "en-GB", "articleBody": "Regulated AI needs trusted data, traceability and defensible evidence. General-purpose GenAI differs from predictive AI built around structured, regulator-ready data.\n\nAI is no longer experimental in financial services. Across advice, banking, insurance and credit, it is embedded in live processes, from fraud detection and onboarding to suitability assessments and monitoring consumer outcomes. Adoption has accelerated quickly, often faster than regulatory certainty.\n\nUK policymakers have backed AI as a driver of productivity and growth, reflected in the Government\u2019s AI Opportunities Action Plan. Alongside these developments, regulators are providing more explicit guidance on AI governance and evidencing outcomes, signalling an evolving policy and regulatory landscape.\n\nIn its 2026\u201327 Annual Work Programme, the FCA sets out plans to become a more data-led regulator, including using AI in supervision to detect harm, review firm submissions and support faster decision-making. Parliamentary interest has also increased, with the Treasury Select Committee examining AI adoption and risk management across the sector.\n\nAttention is moving from capability to proof: can firms evidence control, auditability, accountability and outcomes? That is why technology is no longer optional.\n\nAdoption at scale with uneven governance\n\nLarge financial services firms are already widely using AI. The Treasury Select Committee\u2019s recent inquiry underlines how common adoption has become, while also showing that governance maturity varies significantly.\n\nMany firms continue to rely on control frameworks designed for deterministic systems, where decision paths are easier to explain and challenge. As AI becomes more complex and more deeply embedded, those approaches are being stretched. Consumer Duty, SM&CR and operational resilience still apply, but applying them to AI-driven decisions raises new questions about oversight, documentation and evidencing.\n\nWhere firms struggle: explainability, audit trail and evidencing\n\nThe hardest issues tend to appear after deployment, when AI is scaled and relied on for business-critical processes. Fairness, explainability, oversight and accountability move quickly from theory into day-to-day reality.\n\nThis is most acute when general-purpose tools are used in contexts that require regulatory-grade evidence. That is where the real gap sits.\n\nRegulatory-grade AI needs traceability, not just capability\n\nAs firms move beyond experimentation and try to operationalise AI, a more fundamental constraint becomes clear. In most cases, the limiting factor is not AI capability, but the combination of generative AI tools and the quality, consistency and reliability of the underlying data.\n\nMainstream GenAI and LLM-based tools are effective at text extraction, summarisation and surface-level pattern recognition. They can turn large volumes of content into more digestible content. However, they are not designed to support regulated decision-making. They do not inherently understand what financial advice data represents, how values relate to one another, or why one data point should be trusted over another.\n\nThese models often struggle to provide the explainability, traceability and auditability regulators expect. They can silently resolve conflicts, obscure data lineage and produce outputs that sound confident even when incomplete or wrong. Firms can therefore end up increasing human oversight rather than reducing it, spending more time validating outputs, resolving inconsistencies and evidencing compliance.\n\nBy contrast, purpose-built predictive AI models for analytics and prediction are designed around structured, trusted data. They are trained to understand how advice data is created, how it changes over time and when it must be corrected rather than inferred. This supports predictive analysis, consistent MI and defensible insights that can be traced back to source material and explained to regulators.\n\nThe more reliable, explainable and auditable the data foundation becomes, the more safely AI can be applied. In regulated environments, value does not come from applying GenAI and LLM models to unstructured data, but from combining selective GenAI capabilities with predictive AI operating on trusted, regulator-ready data. That is what allows automation to scale and risk to come down.\n\nFCA expectations: outcomes, governance and supervisory evidence\n\nRegulatory engagement is becoming more hands-on and outcome-focused. The FCA\u2019s Mills Review indicates a preference for testing whether existing regimes remain fit for purpose as AI becomes more embedded, rather than rewriting the rulebook entirely. The Critical Third Parties regime reinforces a growing focus on systemic technology dependencies and data integrity across the wider AI ecosystem.\n\nJoe Norburn, CEO of TCC Group and Recordsure, summarises the practical challenge:\n\nRegulators aren\u2019t asking firms to slow down innovation \u2013 they\u2019re asking them to show control. That means being able to explain how decisions are made, evidence outcomes, and demonstrate accountability long after AI systems are live and scaled.\n\nWhat to do now: build evidence before scrutiny increases\n\nSupervisory expectations are still evolving, but the emphasis on evidence is increasing. Investing now in data foundations and regulator-ready reporting supports stronger control as AI use expands.\n\nIn regulated environments, how AI is built and governed matters more than how impressive it looks.\n\nTrusted data and defensible evidence are what make AI scalable. When outcomes can be traced back to the source and supported by reliable MI, oversight improves without increasing risk.\n\nHow Recordsure helps evidence AI decisions\n\nRecordsure technology is purpose-built for regulated environments where auditability, traceability and defensible outcomes matter. It uses proprietary predictive AI analytics tools to convert advice and servicing interactions into structured, trusted data so firms can produce consistent MI, evidence how decisions were reached and maintain an audit trail that supports governance and supervisory engagement over time.\n\nA Recordsure technology walkthrough can show how operational efficiency and regulatory oversight scale together.", "wordCount": 883, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI evidence" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-7" } ], "citation": [ { "@type": "CreativeWork", "name": "AI Opportunities Action Plan", "url": "https://www.gov.uk/government/publications/ai-opportunities-action-plan/ai-opportunities-action-plan" }, { "@type": "CreativeWork", "name": "FCA 2026\u201327 Annual Work Programme", "url": "https://www.fca.org.uk/publications/annual-work-programmes/2026-27" }, { "@type": "CreativeWork", "name": "Treasury Select Committee report on AI in financial services", "url": "https://publications.parliament.uk/pa/cm5901/cmselect/cmtreasy/684/report.html" }, { "@type": "CreativeWork", "name": "FCA Mills Review", "url": "https://www.fca.org.uk/publications/calls-input/review-long-term-impact-ai-retail-financial-services-mills-review" }, { "@type": "CreativeWork", "name": "Critical Third Parties regime", "url": "https://www.fca.org.uk/publications/policy-statements/ps24-16-operational-resilience-critical-third-parties-uk-financial-sector" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "text": "AI is no longer experimental in financial services. Across advice, banking, insurance and credit, it is embedded in live processes, from fraud detection and onboarding to suitability assessments and monitoring consumer outcomes. Adoption has accelerated quickly, often faster than regulatory certainty.\n\nUK policymakers have backed AI as a driver of productivity and growth, reflected in the Government\u2019s AI Opportunities Action Plan. Alongside these developments, regulators are providing more explicit guidance on AI governance and evidencing outcomes, signalling an evolving policy and regulatory landscape.\n\nIn its 2026\u201327 Annual Work Programme, the FCA sets out plans to become a more data-led regulator, including using AI in supervision to detect harm, review firm submissions and support faster decision-making. Parliamentary interest has also increased, with the Treasury Select Committee examining AI adoption and risk management across the sector.\n\nAttention is moving from capability to proof: can firms evidence control, auditability, accountability and outcomes? That is why technology is no longer optional." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Adoption at scale with uneven governance", "text": "Large financial services firms are already widely using AI. The Treasury Select Committee\u2019s recent inquiry underlines how common adoption has become, while also showing that governance maturity varies significantly.\n\nMany firms continue to rely on control frameworks designed for deterministic systems, where decision paths are easier to explain and challenge. As AI becomes more complex and more deeply embedded, those approaches are being stretched. Consumer Duty, SM&CR and operational resilience still apply, but applying them to AI-driven decisions raises new questions about oversight, documentation and evidencing." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms struggle: explainability, audit trail and evidencing", "text": "The hardest issues tend to appear after deployment, when AI is scaled and relied on for business-critical processes. Fairness, explainability, oversight and accountability move quickly from theory into day-to-day reality.\n\nThis is most acute when general-purpose tools are used in contexts that require regulatory-grade evidence. That is where the real gap sits." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "Regulatory-grade AI needs traceability, not just capability", "text": "As firms move beyond experimentation and try to operationalise AI, a more fundamental constraint becomes clear. In most cases, the limiting factor is not AI capability, but the combination of generative AI tools and the quality, consistency and reliability of the underlying data.\n\nMainstream GenAI and LLM-based tools are effective at text extraction, summarisation and surface-level pattern recognition. They can turn large volumes of content into more digestible content. However, they are not designed to support regulated decision-making. They do not inherently understand what financial advice data represents, how values relate to one another, or why one data point should be trusted over another.\n\nThese models often struggle to provide the explainability, traceability and auditability regulators expect. They can silently resolve conflicts, obscure data lineage and produce outputs that sound confident even when incomplete or wrong. Firms can therefore end up increasing human oversight rather than reducing it, spending more time validating outputs, resolving inconsistencies and evidencing compliance.\n\nBy contrast, purpose-built predictive AI models for analytics and prediction are designed around structured, trusted data. They are trained to understand how advice data is created, how it changes over time and when it must be corrected rather than inferred. This supports predictive analysis, consistent MI and defensible insights that can be traced back to source material and explained to regulators.\n\nThe more reliable, explainable and auditable the data foundation becomes, the more safely AI can be applied. In regulated environments, value does not come from applying GenAI and LLM models to unstructured data, but from combining selective GenAI capabilities with predictive AI operating on trusted, regulator-ready data. That is what allows automation to scale and risk to come down." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "FCA expectations: outcomes, governance and supervisory evidence", "text": "Regulatory engagement is becoming more hands-on and outcome-focused. The FCA\u2019s Mills Review indicates a preference for testing whether existing regimes remain fit for purpose as AI becomes more embedded, rather than rewriting the rulebook entirely. The Critical Third Parties regime reinforces a growing focus on systemic technology dependencies and data integrity across the wider AI ecosystem.\n\nJoe Norburn, CEO of TCC Group and Recordsure, summarises the practical challenge:\n\nRegulators aren\u2019t asking firms to slow down innovation \u2013 they\u2019re asking them to show control. That means being able to explain how decisions are made, evidence outcomes, and demonstrate accountability long after AI systems are live and scaled." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "What to do now: build evidence before scrutiny increases", "text": "Supervisory expectations are still evolving, but the emphasis on evidence is increasing. Investing now in data foundations and regulator-ready reporting supports stronger control as AI use expands.\n\nIn regulated environments, how AI is built and governed matters more than how impressive it looks.\n\nTrusted data and defensible evidence are what make AI scalable. When outcomes can be traced back to the source and supported by reliable MI, oversight improves without increasing risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure helps evidence AI decisions", "text": "Recordsure technology is purpose-built for regulated environments where auditability, traceability and defensible outcomes matter. It uses proprietary predictive AI analytics tools to convert advice and servicing interactions into structured, trusted data so firms can produce consistent MI, evidence how decisions were reached and maintain an audit trail that supports governance and supervisory engagement over time.\n\nA Recordsure technology walkthrough can show how operational efficiency and regulatory oversight scale together." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-fca-scrutiny-governance-and-evidencing-outcomes/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is AI governance becoming more urgent?", "acceptedAnswer": { "@type": "Answer", "text": "AI is embedded in live financial services processes, while regulators are asking firms to evidence control, auditability, accountability and outcomes." } }, { "@type": "Question", "name": "What limitation does GenAI have in regulated decisions?", "acceptedAnswer": { "@type": "Answer", "text": "It says GenAI can summarise and extract text, but is not designed to provide traceability, auditability or trusted data relationships for regulated decisions." } }, { "@type": "Question", "name": "How does Recordsure support AI evidence?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure converts advice and servicing interactions into structured, trusted data for MI, outcome evidence and audit trails." } } ] } ] } ``` ### Connected intelligence, compounding risk: Rethinking agentic AI - URL: https://recordsure.com/insights/news/connected-intelligence-compounding-risk-rethinking-agentic-ai/ - Published: 2026-04-14 - Modified: 2026-10-09 **Topic:** Agentic AI risk Agentic AI can expose weaknesses in connected systems. Natural language reliance, layered decision-making and model interaction make structured design and oversight essential. #### Key points - AI agents can coordinate across platforms. - Natural language and layered decision-making can introduce inconsistency. - Small errors can escalate as models interact. - Structured design, clear separation of capabilities and oversight are needed. The rise of agentic AI is exposing weaknesses in how organisations design connected systems. While AI agents can coordinate across platforms, their reliance on natural language and layered decision-making can introduce inconsistency and hidden failure points. As models interact, small errors can quickly escalate, making outcomes harder to predict. Structured design, clear separation of capabilities and strong oversight are needed to ensure reliable and resilient AI systems. #### Supporting sources - [The hidden risks inside agentic AI systems](https://networkingplus.co.uk/news-details?itemid=9491&post=the-hidden-risks-inside-agentic-ai-systems-973870) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Natural language reliance, layered decision-making and model interaction make structured design and oversight essential.\n\nThe rise of agentic AI is exposing weaknesses in how organisations design connected systems. While AI agents can coordinate across platforms, their reliance on natural language and layered decision-making can introduce inconsistency and hidden failure points.\n\nAs models interact, small errors can quickly escalate, making outcomes harder to predict. Structured design, clear separation of capabilities and strong oversight are needed to ensure reliable and resilient AI systems.", "wordCount": 89, "hasPart": [ { "@id": "https://recordsure.com/insights/news/connected-intelligence-compounding-risk-rethinking-agentic-ai/#analysis-1" } ], "about": [ { "@type": "Thing", "name": "Agentic AI risk" } ], "citation": [ { "@type": "CreativeWork", "name": "The hidden risks inside agentic AI systems", "url": "https://networkingplus.co.uk/news-details?itemid=9491&post=the-hidden-risks-inside-agentic-ai-systems-973870" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/connected-intelligence-compounding-risk-rethinking-agentic-ai/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/connected-intelligence-compounding-risk-rethinking-agentic-ai/#webpage" }, "inLanguage": "en-GB", "text": "The rise of agentic AI is exposing weaknesses in how organisations design connected systems. While AI agents can coordinate across platforms, their reliance on natural language and layered decision-making can introduce inconsistency and hidden failure points.\n\nAs models interact, small errors can quickly escalate, making outcomes harder to predict. 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IT Supply Chain recently highlighted hidden risks in agentic AI, warning that many organisations are adopting complex systems without fully understanding how they work. As AI agents increasingly communicate in natural language, ambiguity and compounding errors can reduce reliability and produce confident but inaccurate outputs. Kit Ruparel, Recordsure’s CTO, emphasised the need for clear architecture, strong governance and the ability for systems to acknowledge uncertainty. Agentic AI is only as safe as its design, making responsible implementation critical. [Read the full article.](https://www.supplychainit.com/the-hidden-risks-inside-agentic-ai-systems/) #### Supporting sources - [The hidden risks inside agentic AI systems](https://www.supplychainit.com/the-hidden-risks-inside-agentic-ai-systems/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Organisations should treat agentic AI as critical infrastructure. #### Key points - Agentic AI tools can act autonomously across platforms. - Poorly governed deployments can reduce visibility and blur accountability. - Security vulnerabilities can spread across complex supply chains. - Organisations should prioritise strong oversight and responsible implementation. Kit Ruparel, CTO at Recordsure, said agentic AI systems, autonomous tools capable of acting across platforms, introduce significant risks when deployed without proper governance. These risks include reduced visibility, increased security vulnerabilities and blurred accountability across complex supply chains, with the potential for unpredictable and cascading failures. #### Treating agentic AI as infrastructure Organisations must treat agentic AI as critical infrastructure, prioritising strong oversight and responsible implementation. #### Supporting sources - [The hidden risks inside agentic AI systems](https://itsupplychain.com/the-hidden-risks-inside-agentic-ai-systems/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Organisations should treat agentic AI as critical infrastructure.\n\nKit Ruparel, CTO at Recordsure, said agentic AI systems, autonomous tools capable of acting across platforms, introduce significant risks when deployed without proper governance.\n\nThese risks include reduced visibility, increased security vulnerabilities and blurred accountability across complex supply chains, with the potential for unpredictable and cascading failures.\n\nTreating agentic AI as infrastructure\n\nOrganisations must treat agentic AI as critical infrastructure, prioritising strong oversight and responsible implementation.", "wordCount": 85, "hasPart": [ { "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "Agentic AI risk" } ], "citation": [ { "@type": "CreativeWork", "name": "The hidden risks inside agentic AI systems", "url": "https://itsupplychain.com/the-hidden-risks-inside-agentic-ai-systems/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#webpage" }, "inLanguage": "en-GB", "text": "Kit Ruparel, CTO at Recordsure, said agentic AI systems, autonomous tools capable of acting across platforms, introduce significant risks when deployed without proper governance.\n\nThese risks include reduced visibility, increased security vulnerabilities and blurred accountability across complex supply chains, with the potential for unpredictable and cascading failures." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#webpage" }, "inLanguage": "en-GB", "headline": "Treating agentic AI as infrastructure", "text": "Organisations must treat agentic AI as critical infrastructure, prioritising strong oversight and responsible implementation." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/agentic-ai-hidden-risks/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What are agentic AI systems?", "acceptedAnswer": { "@type": "Answer", "text": "They are autonomous tools capable of acting across platforms." } }, { "@type": "Question", "name": "What risks can agentic AI create?", "acceptedAnswer": { "@type": "Answer", "text": "Agentic AI can create reduced visibility, increased security vulnerabilities, blurred accountability and the potential for unpredictable cascading failures." } } ] } ] } ``` ### Motor finance redress: why remediation and tech will make or break the next phase - URL: https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/ - Published: 2026-04-10 - Modified: 2026-10-09 **Topic:** Motor finance remediation The FCA’s final motor finance redress scheme turns remediation into an evidence and data discipline. Firms need controlled processes that link eligibility, calculations, decisions and communications at scale. #### Key points - Redress execution depends on consistent, evidenced decisions across historic agreements and customer cohorts. - Fragmented manual remediation can create gaps between data, decisions, documentation and customer explanations. - Technology can centralise evidence, apply consistent logic, track assumptions and preserve human oversight. - Scale changes risk because weak controls become more visible as programme volumes increase. - Clear communications protect customer trust when they reflect the same logic used for decisions. The [FCA’s final motor finance](https://www.fca.org.uk/publications/policy-statements/ps26-3-motor-finance-consumer-redress-scheme) – redress scheme is more than a large‑scale compensation exercise. It is a test of whether firms can deliver remediation that is controlled, evidenced and capable of standing up to scrutiny – at pace, and at scale. For lenders, the challenge is no longer understanding the rules but executing them consistently, accurately, and with confidence across millions of historic agreements. That is where remediation programmes succeed or fail. And it is why technology is no longer optional. #### From policy to execution: where pressure really sits The scheme sets clear expectations around redress. What it does not remove is operational complexity. Firms must reconstruct decisions made years ago, trace commission structures, assess historic disclosures and apply remedies consistently across different cohorts. That work must be evidenced and controlled, not just for today, but months or years from now, should the decisions be challenged. At this point, remediation stops being a regulatory exercise and becomes an evidence and data discipline. #### Remediation without evidence won't stand up Every redress outcome relies on one core question: can the firm demonstrate how that decision was reached? Eligibility assessments, exclusions, redress calculations and customer communications all need to align. Gaps between data, decisions and documentation can quickly become a risk – particularly when customers or the regulator ask for explanations. Manual or fragmented remediation approaches struggle here. As volumes grow, inconsistencies multiply and audit trails weaken. Firms may reach the “right” outcome, but struggle to prove it. That lack of proof is where exposure sits. #### Technology brings structure to remediation Effective remediation does not eliminate human judgement – it strengthens it. Purpose‑built, technology-led remediation processes and workflows allow firms to apply structured logic consistently, while maintaining full transparency over how outcomes are reached. Decisions are tracked. Evidence is linked. Assumptions are visible. Instead of scrambling to respond, firms can: - Centralise historic agreement data and supporting evidence - Apply consistent rules and logic to assess eligibility and redress - Automate large parts of review and calculation while keeping human oversight where it matters - Produce clear, defensible audit trails for every outcome - Generate customer communications that actually reflect the decision made Remediation becomes repeatable, explainable and scalable. Reviews are carried out against defined rules, supported by data and documented end‑to‑end. The result is not just efficiency. It is confidence – internally and externally. #### Scale changes risk, not just workload Motor finance redress is large by any measure. Scale brings scrutiny, and scrutiny brings risk where controls are weak. As programmes expand, firms need assurance that outcomes do not vary across teams, systems, or timeframes. They need to know that redress logic is applied consistently, and that exceptions are identifiable and explainable. Technology enables oversight. It allows firms to monitor the remediation process, identify patterns early and demonstrate control over complex populations, rather than discovering issues after decisions have already been communicated to customers. #### Customer trust is built on clarity Remediation outcomes mean little if customers cannot understand them. Clear explanations matter – not because of tone, but because transparency reduces challenge and escalation. Customers need to see that decisions are grounded in facts and applied fairly. When remediation decisions, calculations, and communications are generated from the same underlying logic, clarity naturally improves. That consistency protects customer confidence and reduces the risk of later complaints. #### Remediation is no longer a one‑off exercise The motor finance redress scheme is unlikely to be the last complex remediation exercise firms might face. Expectations around fairness, explainability and evidencing are rising across financial services. Firms that rely on short‑term fixes will face the same operational strain again. Those that invest in controlled remediation capability – underpinned by trusted technology – place themselves in a stronger position. Not just to resolve past issues, but to demonstrate confidence in future ones. At Recordsure, [we support firms with technology](/sectors/) that helps ensure [remediation](/case-studies/) that is controlled, transparent and built to stand up to scrutiny. #### Supporting sources - [FCA final motor finance consumer redress scheme](https://www.fca.org.uk/publications/policy-statements/ps26-3-motor-finance-consumer-redress-scheme) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Motor finance redress: why remediation and tech will make or break the next phase", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/", "name": "Motor finance redress: why remediation and tech will make or break the next phase", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-04-10T09:20:23+01:00", "dateModified": "2026-04-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Motor finance redress: why remediation and tech will make or break the next phase", "datePublished": "2026-04-10T09:20:23+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/cdf31c6ad69c4c90850a9c5d2f77a9dd/thumbnail-1600-08e9f3b885b3249dc6cbdf6fa829bf6855d2a8baed3110a28c28702de503aca3.jpg", "description": "Motor finance redress will test whether lenders can evidence consistent remediation decisions across historic agreements, customer communications and audit trails.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s final motor finance redress scheme turns remediation into an evidence and data discipline. Firms need controlled processes that link eligibility, calculations, decisions and communications at scale.\n\nThe FCA\u2019s final motor finance \u2013 redress scheme is more than a large\u2011scale compensation exercise. It is a test of whether firms can deliver remediation that is controlled, evidenced and capable of standing up to scrutiny \u2013 at pace, and at scale.\n\nFor lenders, the challenge is no longer understanding the rules but executing them consistently, accurately, and with confidence across millions of historic agreements. That is where remediation programmes succeed or fail.\n\nAnd it is why technology is no longer optional.\n\nFrom policy to execution: where pressure really sits\n\nThe scheme sets clear expectations around redress. What it does not remove is operational complexity.\n\nFirms must reconstruct decisions made years ago, trace commission structures, assess historic disclosures and apply remedies consistently across different cohorts. That work must be evidenced and controlled, not just for today, but months or years from now, should the decisions be challenged.\n\nAt this point, remediation stops being a regulatory exercise and becomes an evidence and data discipline.\n\nRemediation without evidence won't stand up\n\nEvery redress outcome relies on one core question: can the firm demonstrate how that decision was reached?\n\nEligibility assessments, exclusions, redress calculations and customer communications all need to align. Gaps between data, decisions and documentation can quickly become a risk \u2013 particularly when customers or the regulator ask for explanations.\n\nManual or fragmented remediation approaches struggle here. As volumes grow, inconsistencies multiply and audit trails weaken. Firms may reach the \u201cright\u201d outcome, but struggle to prove it.\n\nThat lack of proof is where exposure sits.\n\nTechnology brings structure to remediation\n\nEffective remediation does not eliminate human judgement \u2013 it strengthens it.\n\nPurpose\u2011built, technology-led remediation processes and workflows allow firms to apply structured logic consistently, while maintaining full transparency over how outcomes are reached. Decisions are tracked. Evidence is linked. Assumptions are visible.\n\nInstead of scrambling to respond, firms can:\n\n\u2022 Centralise historic agreement data and supporting evidence\n\n\u2022 Apply consistent rules and logic to assess eligibility and redress\n\n\u2022 Automate large parts of review and calculation while keeping human oversight where it matters\n\n\u2022 Produce clear, defensible audit trails for every outcome\n\n\u2022 Generate customer communications that actually reflect the decision made\n\nRemediation becomes repeatable, explainable and scalable. Reviews are carried out against defined rules, supported by data and documented end\u2011to\u2011end.\n\nThe result is not just efficiency. It is confidence \u2013 internally and externally.\n\nScale changes risk, not just workload\n\nMotor finance redress is large by any measure. Scale brings scrutiny, and scrutiny brings risk where controls are weak.\n\nAs programmes expand, firms need assurance that outcomes do not vary across teams, systems, or timeframes. They need to know that redress logic is applied consistently, and that exceptions are identifiable and explainable.\n\nTechnology enables oversight. It allows firms to monitor the remediation process, identify patterns early and demonstrate control over complex populations, rather than discovering issues after decisions have already been communicated to customers.\n\nCustomer trust is built on clarity\n\nRemediation outcomes mean little if customers cannot understand them.\n\nClear explanations matter \u2013 not because of tone, but because transparency reduces challenge and escalation. Customers need to see that decisions are grounded in facts and applied fairly.\n\nWhen remediation decisions, calculations, and communications are generated from the same underlying logic, clarity naturally improves. That consistency protects customer confidence and reduces the risk of later complaints.\n\nRemediation is no longer a one\u2011off exercise\n\nThe motor finance redress scheme is unlikely to be the last complex remediation exercise firms might face.\n\nExpectations around fairness, explainability and evidencing are rising across financial services. Firms that rely on short\u2011term fixes will face the same operational strain again.\n\nThose that invest in controlled remediation capability \u2013 underpinned by trusted technology \u2013 place themselves in a stronger position. Not just to resolve past issues, but to demonstrate confidence in future ones.\n\nAt Recordsure, we support firms with technology that helps ensure remediation that is controlled, transparent and built to stand up to scrutiny.", "wordCount": 684, "keywords": [ "Insurance", "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Motor finance remediation" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-7" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA final motor finance consumer redress scheme", "url": "https://www.fca.org.uk/publications/policy-statements/ps26-3-motor-finance-consumer-redress-scheme" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s final motor finance \u2013 redress scheme is more than a large\u2011scale compensation exercise. It is a test of whether firms can deliver remediation that is controlled, evidenced and capable of standing up to scrutiny \u2013 at pace, and at scale.\n\nFor lenders, the challenge is no longer understanding the rules but executing them consistently, accurately, and with confidence across millions of historic agreements. That is where remediation programmes succeed or fail.\n\nAnd it is why technology is no longer optional." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "From policy to execution: where pressure really sits", "text": "The scheme sets clear expectations around redress. What it does not remove is operational complexity.\n\nFirms must reconstruct decisions made years ago, trace commission structures, assess historic disclosures and apply remedies consistently across different cohorts. That work must be evidenced and controlled, not just for today, but months or years from now, should the decisions be challenged.\n\nAt this point, remediation stops being a regulatory exercise and becomes an evidence and data discipline." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "Remediation without evidence won't stand up", "text": "Every redress outcome relies on one core question: can the firm demonstrate how that decision was reached?\n\nEligibility assessments, exclusions, redress calculations and customer communications all need to align. Gaps between data, decisions and documentation can quickly become a risk \u2013 particularly when customers or the regulator ask for explanations.\n\nManual or fragmented remediation approaches struggle here. As volumes grow, inconsistencies multiply and audit trails weaken. Firms may reach the \u201cright\u201d outcome, but struggle to prove it.\n\nThat lack of proof is where exposure sits." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "Technology brings structure to remediation", "text": "Effective remediation does not eliminate human judgement \u2013 it strengthens it.\n\nPurpose\u2011built, technology-led remediation processes and workflows allow firms to apply structured logic consistently, while maintaining full transparency over how outcomes are reached. Decisions are tracked. Evidence is linked. Assumptions are visible.\n\nInstead of scrambling to respond, firms can:\n\n\u2022 Centralise historic agreement data and supporting evidence\n\n\u2022 Apply consistent rules and logic to assess eligibility and redress\n\n\u2022 Automate large parts of review and calculation while keeping human oversight where it matters\n\n\u2022 Produce clear, defensible audit trails for every outcome\n\n\u2022 Generate customer communications that actually reflect the decision made\n\nRemediation becomes repeatable, explainable and scalable. Reviews are carried out against defined rules, supported by data and documented end\u2011to\u2011end.\n\nThe result is not just efficiency. It is confidence \u2013 internally and externally." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "Scale changes risk, not just workload", "text": "Motor finance redress is large by any measure. Scale brings scrutiny, and scrutiny brings risk where controls are weak.\n\nAs programmes expand, firms need assurance that outcomes do not vary across teams, systems, or timeframes. They need to know that redress logic is applied consistently, and that exceptions are identifiable and explainable.\n\nTechnology enables oversight. It allows firms to monitor the remediation process, identify patterns early and demonstrate control over complex populations, rather than discovering issues after decisions have already been communicated to customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "Customer trust is built on clarity", "text": "Remediation outcomes mean little if customers cannot understand them.\n\nClear explanations matter \u2013 not because of tone, but because transparency reduces challenge and escalation. Customers need to see that decisions are grounded in facts and applied fairly.\n\nWhen remediation decisions, calculations, and communications are generated from the same underlying logic, clarity naturally improves. That consistency protects customer confidence and reduces the risk of later complaints." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "headline": "Remediation is no longer a one\u2011off exercise", "text": "The motor finance redress scheme is unlikely to be the last complex remediation exercise firms might face.\n\nExpectations around fairness, explainability and evidencing are rising across financial services. Firms that rely on short\u2011term fixes will face the same operational strain again.\n\nThose that invest in controlled remediation capability \u2013 underpinned by trusted technology \u2013 place themselves in a stronger position. Not just to resolve past issues, but to demonstrate confidence in future ones.\n\nAt Recordsure, we support firms with technology that helps ensure remediation that is controlled, transparent and built to stand up to scrutiny." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-why-remediation-and-tech-will-make-or-break-the-next-phase/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is motor finance redress a data discipline?", "acceptedAnswer": { "@type": "Answer", "text": "Firms must reconstruct historic decisions, trace commission structures, assess disclosures and evidence how each outcome was reached." } }, { "@type": "Question", "name": "What risk does manual remediation create?", "acceptedAnswer": { "@type": "Answer", "text": "Manual or fragmented approaches can multiply inconsistencies and weaken audit trails as case volumes grow." } }, { "@type": "Question", "name": "How can technology support remediation?", "acceptedAnswer": { "@type": "Answer", "text": "It can centralise data, apply consistent rules, automate parts of review and calculation, link evidence and produce defensible audit trails." } }, { "@type": "Question", "name": "Why do customer explanations matter?", "acceptedAnswer": { "@type": "Answer", "text": "Clear explanations help customers understand decisions, reduce escalation and show that outcomes are grounded in facts and applied fairly." } } ] } ] } ``` ### UK financial regulator cuts cases to focus on investigations that achieve results - URL: https://recordsure.com/insights/news/uk-financial-regulator-cuts-cases-to-focus-on-investigations/ - Published: 2026-03-27 - Modified: 2026-10-09 **Topic:** FCA enforcement Joe Norburn featured in Compliance Week on the FCA’s evolving enforcement strategy, as the regulator shifts towards fewer investigations and more cases likely to deliver tangible outcomes. #### Key points - Joe Norburn discussed the FCA’s evolving enforcement strategy in Compliance Week. - The FCA is reducing the number of investigations it pursues. - Around 100 cases were closed in recent years because they were unlikely to lead to action. - The broader shift prioritises cases that deliver tangible outcomes. TCC Group’s ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)) CEO Joe Norburn recently featured in Compliance Week to discuss the Financial Conduct Authority’s (FCA) evolving enforcement strategy and what it means for firms. The FCA is reducing the number of investigations it pursues, closing around 100 cases in recent years that were unlikely to lead to action, as part of a broader shift toward prioritising cases that deliver tangible outcomes. #### Supporting sources - [Compliance Week article](https://www.complianceweek.com/regulatory-enforcement/uk-financial-regulator-cuts-cases-to-focus-on-investigations-that-achieve-results/36502.article) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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TCC Group’s ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)) CEO Joe Norburn recently featured in Wealth DFM to discuss the FCA’s consolidation review and what it means for advice and wealth management firms. Consolidation is becoming a defining trend across the sector, bringing both opportunities for growth and increased regulatory scrutiny around governance, financial resilience and client outcomes. Firms also face challenges in managing acquisitions effectively, with a growing emphasis on thorough due diligence, integration planning and maintaining strong customer outcomes as the market continues to evolve. #### Supporting sources - [Wealth DFM article](https://wealthdfm.com/tcc-group-what-the-fcas-consolidation-review-means-for-advice-and-wealth-management-firms/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Bad Execution Is. - URL: https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/ - Published: 2026-03-20 - Modified: 2026-10-09 **Topic:** Wealth consolidation Joe Norburn featured in European Business Magazine on consolidation in the UK wealth market, with governance, disciplined due diligence, integration and oversight central across the deal lifecycle. #### Key points - Joe Norburn discussed growth through consolidation in European Business Magazine. - Governance, due diligence and integration are key consolidation challenges. - Overlooked issues often re-emerge later at higher cost. - Sustainable growth depends on scaling with control and oversight. TCC Group (TCC, Momenta, and Recordsure) CEO Joe Norburn was recently featured in European Business Magazine, where he discussed how acquisitive firms can drive growth through consolidation. He highlighted that one of the key challenges organisations face is maintaining strong governance, carrying out disciplined due diligence, and ensuring effective integration throughout the consolidation process. Issues overlooked early on often re-emerge later at a significantly higher cost. While the regulator expects firms to manage risk proactively across the entire deal lifecycle, sustainable growth ultimately depends not on consolidation alone, but on the ability to scale with control and maintain clear oversight. #### Supporting sources - [European Business Magazine article](https://europeanbusinessmagazine.com/awards/why-consolidation-isnt-the-risk-getting-it-wrong-is/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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He highlighted that one of the key challenges organisations face is maintaining strong governance, carrying out disciplined due diligence, and ensuring effective integration throughout the consolidation process. Issues overlooked early on often re-emerge later at a significantly higher cost. While the regulator expects firms to manage risk proactively across the entire deal lifecycle, sustainable growth ultimately depends not on consolidation alone, but on the ability to scale with control and maintain clear oversight.", "wordCount": 127, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth consolidation" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "European Business Magazine article", "url": "https://europeanbusinessmagazine.com/awards/why-consolidation-isnt-the-risk-getting-it-wrong-is/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#webpage" }, "inLanguage": "en-GB", "text": "TCC Group (TCC, Momenta, and Recordsure) CEO Joe Norburn was recently featured in European Business Magazine, where he discussed how acquisitive firms can drive growth through consolidation. He highlighted that one of the key challenges organisations face is maintaining strong governance, carrying out disciplined due diligence, and ensuring effective integration throughout the consolidation process. Issues overlooked early on often re-emerge later at a significantly higher cost. While the regulator expects firms to manage risk proactively across the entire deal lifecycle, sustainable growth ultimately depends not on consolidation alone, but on the ability to scale with control and maintain clear oversight." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who discussed consolidation in European Business Magazine?", "acceptedAnswer": { "@type": "Answer", "text": "TCC Group CEO Joe Norburn discussed how acquisitive firms can drive growth through consolidation." } }, { "@type": "Question", "name": "What consolidation challenges are highlighted?", "acceptedAnswer": { "@type": "Answer", "text": "Strong governance, disciplined due diligence and effective integration are key challenges throughout the consolidation process." } }, { "@type": "Question", "name": "What does sustainable growth depend on?", "acceptedAnswer": { "@type": "Answer", "text": "Sustainable growth depends on scaling with control and maintaining clear oversight, not on consolidation alone." } } ] } ] } ``` ### Insurance claims rewired: The rise of agentic AI - URL: https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/ - Published: 2026-03-20 - Modified: 2026-10-09 **Topic:** Agentic AI claims Agentic AI is changing insurance claims by moving beyond passive support. Tools that once surfaced information or flagged risks can now act within workflows and support real-time decisions. #### Key points - AI in claims is moving beyond surfacing information and flagging risks. - Agentic AI tools can progress claims, manage workflows and support real-time decisions. - The shift changes the balance between automation and human oversight. TCC Group’s (TCC, Momenta, and Recordsure) CTO, Kit Ruparel, was recently featured by IT Briefing on how AI is moving beyond a passive support role in insurance claims. Agentic AI is being actively used to assist in decision-making. Unlike earlier systems that simply analysed data or flagged risks, agentic AI tools can take action – progressing claims, managing workflows and supporting real-time decisions. This shift marks a significant transformation in how insurers handle claims, promising greater efficiency and automation while redefining the balance between human oversight and machine-driven execution. #### Supporting sources - [FinTech Global](https://fintech.global/2026/03/17/insurance-claims-rewired-the-rise-of-agentic-ai/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Insurance claims rewired: The rise of agentic AI", "item": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#webpage", "url": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/", "name": "Insurance claims rewired: The rise of agentic AI", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-03-20T15:12:28+00:00", "dateModified": "2026-03-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Insurance claims rewired: The rise of agentic AI", "datePublished": "2026-03-20T15:12:28+00:00", "dateModified": "2026-10-09T04:50:29+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/79d443e9029c4ac4b9436b35ba14a37d/thumbnail-1024-e62a366f6994ccea93de31cd4c1fd3488da6fcc6099eddbf371cc803003e233f.jpg", "description": "Kit Ruparel comments on agentic AI in insurance claims, where tools can support real-time decisions, progress claims and manage workflows under human oversight.", "inLanguage": "en-GB", "articleBody": "Agentic AI is changing insurance claims by moving beyond passive support. Tools that once surfaced information or flagged risks can now act within workflows and support real-time decisions.\n\nTCC Group\u2019s (TCC, Momenta, and Recordsure) CTO, Kit Ruparel, was recently featured by IT Briefing on how AI is moving beyond a passive support role in insurance claims. Agentic AI is being actively used to assist in decision-making. Unlike earlier systems that simply analysed data or flagged risks, agentic AI tools can take action \u2013 progressing claims, managing workflows and supporting real-time decisions. This shift marks a significant transformation in how insurers handle claims, promising greater efficiency and automation while redefining the balance between human oversight and machine-driven execution.", "wordCount": 117, "keywords": [ "Insurance" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Agentic AI claims" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "FinTech Global", "url": "https://fintech.global/2026/03/17/insurance-claims-rewired-the-rise-of-agentic-ai/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#webpage" }, "inLanguage": "en-GB", "text": "TCC Group\u2019s (TCC, Momenta, and Recordsure) CTO, Kit Ruparel, was recently featured by IT Briefing on how AI is moving beyond a passive support role in insurance claims. Agentic AI is being actively used to assist in decision-making. Unlike earlier systems that simply analysed data or flagged risks, agentic AI tools can take action \u2013 progressing claims, managing workflows and supporting real-time decisions. This shift marks a significant transformation in how insurers handle claims, promising greater efficiency and automation while redefining the balance between human oversight and machine-driven execution." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/insurance-claims-rewired-the-rise-of-agentic-ai/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How is agentic AI different from earlier claims systems?", "acceptedAnswer": { "@type": "Answer", "text": "Earlier systems analysed data or flagged risks. Agentic AI tools can take action in claims workflows." } }, { "@type": "Question", "name": "What claims activities can agentic AI support?", "acceptedAnswer": { "@type": "Answer", "text": "It can progress claims, manage workflows and support real-time decisions, while changing how insurers balance automation with human oversight." } } ] } ] } ``` ### AI, compliance and customer outcomes: Recordsure in conversation with intelliflo - URL: https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/ - Published: 2026-03-19 - Modified: 2026-10-09 **Topic:** Wealth AI oversight A three-part intelliflo Interacts discussion covers AI in wealth management compliance, including triage, customer outcomes, human oversight and evidence frameworks. #### Key points - The series examines how wealth firms can move from manual reviews to smarter compliance without losing control. - Predictive AI can help identify risk areas, increase sample rates and prioritise reviews. - Predictive AI and generative AI play different roles in compliance-critical environments. - Structured governance and platform integration are presented as key to evidencing outcomes. Recordsure recently sat down with [intelliflo](https://www.intelliflo.com/) to record a new episode for the [intelliflo Interacts vodcast series](https://www.intelliflo.com/insights/thought-leadership/intelliflo-interacts-episode-7/). Garry Evans, Recordsure’s Chief Product Officer and Chief Commercial Officer, joined Thomas Richter, Director of Strategic Partnerships at intelliflo, for a wide-ranging conversation about how artificial intelligence is reshaping compliance, quality assurance (QA) and customer outcomes in wealth management. The result is three honest discussions that avoid overselling and look practically at where AI is making a difference, where it has limits and what comes next. For compliance, risk and technology leaders trying to cut through the noise around AI in financial services, the series is worth watching. #### What the three-part series covers The series is structured around Recordsure’s role in wealth management, customer outcomes and triage, and the future of compliance and AI in advice. Across the three parts, the recurring theme is how firms can use AI to improve coverage while retaining human oversight and governance. #### Part 1: Recordsure and the role of AI in wealth management The first conversation asks how firms can move from manual, labour-intensive compliance reviews to something smarter without losing oversight or control. Garry traces Recordsure’s origins as a business built to tackle the burden of suitability reviews and compliance monitoring in wealth management. The discussion explains how Recordsure has evolved as AI capabilities have advanced, covers the partnership with intelliflo and explores the right balance between automation and human oversight. AI can do the heavy lifting, but human judgement remains essential; that balance is a feature, not a limitation. #### Part 2: Customer outcomes, triage and the future of AI in advice Part 2 moves into operational detail. Predictive AI can help firms evidence good customer outcomes under the FCA’s Consumer Duty, show how triage works in practice and increase sample rates dramatically without hiring more people. Garry explains how Recordsure technology helps compliance teams identify risk areas faster, prioritise reviews more intelligently and get consistent coverage across advice interactions. The conversation also covers customer and adviser interaction analytics, and the distinction between predictive and generative AI. Generative AI is accessible, but it is not always the right tool for compliance-critical decisions; knowing the difference is part of responsible AI use. #### Part 3: Compliance evolution, global insights and what’s next for Recordsure Compliance expectations are changing, and compliance teams can move from being seen as a cost centre to becoming a driver of business value. Garry draws on UK and Australian experience, where large-scale remediation projects, including “fee for no service” cases, showed what AI-driven triage and document analysis can achieve at scale: significantly reduced effort, faster resolution and better customer outcomes. The episode closes with what is next for Recordsure: data extraction, cross-source validation and raising the standard of evidence and integrity across the advice process. As industry consolidation accelerates and regulatory expectations rise, an evidencing framework is becoming a competitive necessity. #### Why this conversation matters The pressure on wealth management firms to evidence good customer outcomes is increasing. The FCA has been explicit that Consumer Duty compliance is not a tick-box exercise: firms must demonstrate, with real data, that customers receive suitable advice and appropriate ongoing service. Manual QA processes, even when well run, can only cover a fraction of interactions. Predictive AI changes that equation by enabling triage at scale, identifying emerging risk earlier and freeing compliance professionals to focus on cases that need their expertise. Firms getting most value from AI are not handing everything to technology. They are thinking carefully about governance, human oversight and how AI fits existing workflows. As explored in the Attivo case study, that structured approach can deliver a 40% reduction in file review costs and a step-change in advice quality. The intelliflo partnership helps deliver this in practice. Integrating AI-powered compliance tools into adviser platforms removes friction, speeds workflows and makes evidencing outcomes part of the advice process rather than a separate overhead. The series forms part of intelliflo Interacts episode 7. #### Supporting sources - [intelliflo Interacts episode 7](https://www.intelliflo.com/insights/thought-leadership/intelliflo-interacts-episode-7/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI, compliance and customer outcomes: Recordsure in conversation with intelliflo", "item": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/", "name": "AI, compliance and customer outcomes: Recordsure in conversation with intelliflo", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-03-19T10:15:01+00:00", "dateModified": "2026-04-21T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-04-21" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI, compliance and customer outcomes: Recordsure in conversation with intelliflo", "datePublished": "2026-03-19T10:15:01+00:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e22b04afcefe4f38844dea048a22de8c/thumbnail-1600-4539804f1a0c8641cd90931082eca53ddacaf9c6e204ad9af4b8d989f8129845.png", "description": "Recordsure\u2019s Garry Evans joins intelliflo to discuss how AI can improve compliance, QA and customer outcome evidence in wealth management without removing human oversight.", "inLanguage": "en-GB", "articleBody": "A three-part intelliflo Interacts discussion covers AI in wealth management compliance, including triage, customer outcomes, human oversight and evidence frameworks.\n\nRecordsure recently sat down with intelliflo to record a new episode for the intelliflo Interacts vodcast series. Garry Evans, Recordsure\u2019s Chief Product Officer and Chief Commercial Officer, joined Thomas Richter, Director of Strategic Partnerships at intelliflo, for a wide-ranging conversation about how artificial intelligence is reshaping compliance, quality assurance (QA) and customer outcomes in wealth management.\n\nThe result is three honest discussions that avoid overselling and look practically at where AI is making a difference, where it has limits and what comes next. For compliance, risk and technology leaders trying to cut through the noise around AI in financial services, the series is worth watching.\n\nWhat the three-part series covers\n\nThe series is structured around Recordsure\u2019s role in wealth management, customer outcomes and triage, and the future of compliance and AI in advice. Across the three parts, the recurring theme is how firms can use AI to improve coverage while retaining human oversight and governance.\n\nPart 1: Recordsure and the role of AI in wealth management\n\nThe first conversation asks how firms can move from manual, labour-intensive compliance reviews to something smarter without losing oversight or control. Garry traces Recordsure\u2019s origins as a business built to tackle the burden of suitability reviews and compliance monitoring in wealth management.\n\nThe discussion explains how Recordsure has evolved as AI capabilities have advanced, covers the partnership with intelliflo and explores the right balance between automation and human oversight. AI can do the heavy lifting, but human judgement remains essential; that balance is a feature, not a limitation.\n\nPart 2: Customer outcomes, triage and the future of AI in advice\n\nPart 2 moves into operational detail. Predictive AI can help firms evidence good customer outcomes under the FCA\u2019s Consumer Duty, show how triage works in practice and increase sample rates dramatically without hiring more people.\n\nGarry explains how Recordsure technology helps compliance teams identify risk areas faster, prioritise reviews more intelligently and get consistent coverage across advice interactions. The conversation also covers customer and adviser interaction analytics, and the distinction between predictive and generative AI. Generative AI is accessible, but it is not always the right tool for compliance-critical decisions; knowing the difference is part of responsible AI use.\n\nPart 3: Compliance evolution, global insights and what\u2019s next for Recordsure\n\nCompliance expectations are changing, and compliance teams can move from being seen as a cost centre to becoming a driver of business value. Garry draws on UK and Australian experience, where large-scale remediation projects, including \u201cfee for no service\u201d cases, showed what AI-driven triage and document analysis can achieve at scale: significantly reduced effort, faster resolution and better customer outcomes.\n\nThe episode closes with what is next for Recordsure: data extraction, cross-source validation and raising the standard of evidence and integrity across the advice process. As industry consolidation accelerates and regulatory expectations rise, an evidencing framework is becoming a competitive necessity.\n\nWhy this conversation matters\n\nThe pressure on wealth management firms to evidence good customer outcomes is increasing. The FCA has been explicit that Consumer Duty compliance is not a tick-box exercise: firms must demonstrate, with real data, that customers receive suitable advice and appropriate ongoing service.\n\nManual QA processes, even when well run, can only cover a fraction of interactions. Predictive AI changes that equation by enabling triage at scale, identifying emerging risk earlier and freeing compliance professionals to focus on cases that need their expertise.\n\nFirms getting most value from AI are not handing everything to technology. They are thinking carefully about governance, human oversight and how AI fits existing workflows. As explored in the Attivo case study, that structured approach can deliver a 40% reduction in file review costs and a step-change in advice quality.\n\nThe intelliflo partnership helps deliver this in practice. Integrating AI-powered compliance tools into adviser platforms removes friction, speeds workflows and makes evidencing outcomes part of the advice process rather than a separate overhead.\n\nThe series forms part of intelliflo Interacts episode 7.", "wordCount": 676, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth AI oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "intelliflo Interacts episode 7", "url": "https://www.intelliflo.com/insights/thought-leadership/intelliflo-interacts-episode-7/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure recently sat down with intelliflo to record a new episode for the intelliflo Interacts vodcast series. Garry Evans, Recordsure\u2019s Chief Product Officer and Chief Commercial Officer, joined Thomas Richter, Director of Strategic Partnerships at intelliflo, for a wide-ranging conversation about how artificial intelligence is reshaping compliance, quality assurance (QA) and customer outcomes in wealth management.\n\nThe result is three honest discussions that avoid overselling and look practically at where AI is making a difference, where it has limits and what comes next. For compliance, risk and technology leaders trying to cut through the noise around AI in financial services, the series is worth watching." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "What the three-part series covers", "text": "The series is structured around Recordsure\u2019s role in wealth management, customer outcomes and triage, and the future of compliance and AI in advice. Across the three parts, the recurring theme is how firms can use AI to improve coverage while retaining human oversight and governance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "Part 1: Recordsure and the role of AI in wealth management", "text": "The first conversation asks how firms can move from manual, labour-intensive compliance reviews to something smarter without losing oversight or control. Garry traces Recordsure\u2019s origins as a business built to tackle the burden of suitability reviews and compliance monitoring in wealth management.\n\nThe discussion explains how Recordsure has evolved as AI capabilities have advanced, covers the partnership with intelliflo and explores the right balance between automation and human oversight. AI can do the heavy lifting, but human judgement remains essential; that balance is a feature, not a limitation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "Part 2: Customer outcomes, triage and the future of AI in advice", "text": "Part 2 moves into operational detail. Predictive AI can help firms evidence good customer outcomes under the FCA\u2019s Consumer Duty, show how triage works in practice and increase sample rates dramatically without hiring more people.\n\nGarry explains how Recordsure technology helps compliance teams identify risk areas faster, prioritise reviews more intelligently and get consistent coverage across advice interactions. The conversation also covers customer and adviser interaction analytics, and the distinction between predictive and generative AI. Generative AI is accessible, but it is not always the right tool for compliance-critical decisions; knowing the difference is part of responsible AI use." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "Part 3: Compliance evolution, global insights and what\u2019s next for Recordsure", "text": "Compliance expectations are changing, and compliance teams can move from being seen as a cost centre to becoming a driver of business value. Garry draws on UK and Australian experience, where large-scale remediation projects, including \u201cfee for no service\u201d cases, showed what AI-driven triage and document analysis can achieve at scale: significantly reduced effort, faster resolution and better customer outcomes.\n\nThe episode closes with what is next for Recordsure: data extraction, cross-source validation and raising the standard of evidence and integrity across the advice process. As industry consolidation accelerates and regulatory expectations rise, an evidencing framework is becoming a competitive necessity." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "Why this conversation matters", "text": "The pressure on wealth management firms to evidence good customer outcomes is increasing. The FCA has been explicit that Consumer Duty compliance is not a tick-box exercise: firms must demonstrate, with real data, that customers receive suitable advice and appropriate ongoing service.\n\nManual QA processes, even when well run, can only cover a fraction of interactions. Predictive AI changes that equation by enabling triage at scale, identifying emerging risk earlier and freeing compliance professionals to focus on cases that need their expertise.\n\nFirms getting most value from AI are not handing everything to technology. They are thinking carefully about governance, human oversight and how AI fits existing workflows. As explored in the Attivo case study, that structured approach can deliver a 40% reduction in file review costs and a step-change in advice quality.\n\nThe intelliflo partnership helps deliver this in practice. Integrating AI-powered compliance tools into adviser platforms removes friction, speeds workflows and makes evidencing outcomes part of the advice process rather than a separate overhead.\n\nThe series forms part of intelliflo Interacts episode 7." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-compliance-and-customer-outcomes-recordsure-in-conversation-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who took part in the intelliflo discussion?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans from Recordsure joined Thomas Richter, Director of Strategic Partnerships at intelliflo." } }, { "@type": "Question", "name": "How can predictive AI improve compliance reviews?", "acceptedAnswer": { "@type": "Answer", "text": "It can support triage at scale, identify emerging risk earlier, increase sample coverage and help compliance teams focus on cases needing expertise." } }, { "@type": "Question", "name": "Why does human oversight remain important?", "acceptedAnswer": { "@type": "Answer", "text": "Firms gain most when AI is governed, fitted into workflows and used with human judgement rather than handed complete control." } } ] } ] } ``` ### Ecommerce & Payments Briefing: The hidden risks inside agentic AI systems - URL: https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/ - Published: 2026-03-17 - Modified: 2026-10-09 **Topic:** Agentic AI risk Autonomous agentic AI tools can create data, compliance and security risks without proper oversight. Strict permissions, governance and security-first deployment are essential. #### Key points - Agentic AI systems can act independently across multiple platforms. - Broad access can create data leaks, compliance issues and security vulnerabilities. - Shadow AI, prompt injection and unintended actions can cause errors to scale quickly. - Agentic AI should be treated as high-risk infrastructure. TCC Group’s Kit Ruparel, Chief Technology Officer, said agentic AI systems, autonomous tools that can act across multiple platforms, are introducing a new layer of risk for businesses. Their ability to operate independently with broad access can lead to data leaks, compliance issues and security vulnerabilities, especially when used without proper oversight or governance. The rise of shadow AI, along with risks like prompt injection and unintended actions, means errors can scale quickly. #### High-risk infrastructure While agentic AI offers significant efficiency gains, companies should treat agentic AI as high-risk infrastructure. That means governance, strict permissions and security-first deployment are needed, rather than viewing it as a simple extension of existing AI tools or an evolution of traditional chatbots. #### Supporting sources - [The hidden risks inside agentic AI systems](https://ecommerce-forum.co.uk/briefing/the-hidden-risks-inside-agentic-ai-systems/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Ecommerce & Payments Briefing: The hidden risks inside agentic AI systems", "item": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage", "url": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/", "name": "Ecommerce & Payments Briefing: The hidden risks inside agentic AI systems", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-03-17T09:26:19+00:00", "dateModified": "2026-03-17T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-17" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Ecommerce & Payments Briefing: The hidden risks inside agentic AI systems", "datePublished": "2026-03-17T09:26:19+00:00", "dateModified": "2026-10-09T04:50:26+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6ed7824f031f4cbb81bc7e79fa028d00/thumbnail-1024-d5456fc534fe86bd11a90116dc6334edbe0e16cd826f1cc7d00692a4757a60d6.jpg", "description": "Agentic AI needs strict permissions, governance and security-first deployment because autonomous tools can create data, compliance and security risks.", "inLanguage": "en-GB", "articleBody": "Autonomous agentic AI tools can create data, compliance and security risks without proper oversight. Strict permissions, governance and security-first deployment are essential.\n\nTCC Group\u2019s Kit Ruparel, Chief Technology Officer, said agentic AI systems, autonomous tools that can act across multiple platforms, are introducing a new layer of risk for businesses.\n\nTheir ability to operate independently with broad access can lead to data leaks, compliance issues and security vulnerabilities, especially when used without proper oversight or governance. The rise of shadow AI, along with risks like prompt injection and unintended actions, means errors can scale quickly.\n\nHigh-risk infrastructure\n\nWhile agentic AI offers significant efficiency gains, companies should treat agentic AI as high-risk infrastructure. That means governance, strict permissions and security-first deployment are needed, rather than viewing it as a simple extension of existing AI tools or an evolution of traditional chatbots.", "wordCount": 140, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Agentic AI risk" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "The hidden risks inside agentic AI systems", "url": "https://ecommerce-forum.co.uk/briefing/the-hidden-risks-inside-agentic-ai-systems/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage" }, "inLanguage": "en-GB", "text": "TCC Group\u2019s Kit Ruparel, Chief Technology Officer, said agentic AI systems, autonomous tools that can act across multiple platforms, are introducing a new layer of risk for businesses.\n\nTheir ability to operate independently with broad access can lead to data leaks, compliance issues and security vulnerabilities, especially when used without proper oversight or governance. The rise of shadow AI, along with risks like prompt injection and unintended actions, means errors can scale quickly." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage" }, "inLanguage": "en-GB", "headline": "High-risk infrastructure", "text": "While agentic AI offers significant efficiency gains, companies should treat agentic AI as high-risk infrastructure. That means governance, strict permissions and security-first deployment are needed, rather than viewing it as a simple extension of existing AI tools or an evolution of traditional chatbots." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/ecommerce-payments-briefing-the-hidden-risks-inside-agentic-ai-systems/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What risks can agentic AI create?", "acceptedAnswer": { "@type": "Answer", "text": "Agentic AI can create data leaks, compliance issues, security vulnerabilities, shadow AI, prompt injection and unintended actions." } }, { "@type": "Question", "name": "Why can errors scale quickly?", "acceptedAnswer": { "@type": "Answer", "text": "Agentic AI can operate independently across multiple platforms with broad access, so unintended actions can spread quickly." } }, { "@type": "Question", "name": "How should companies treat agentic AI?", "acceptedAnswer": { "@type": "Answer", "text": "Companies should treat it as high-risk infrastructure, with governance, strict permissions and security-first deployment." } } ] } ] } ``` ### What the FCA’s Regulatory Priorities mean for consumer investment firms - URL: https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/ - Published: 2026-03-10 - Modified: 2026-10-09 **Topic:** Consumer investment priorities The FCA’s first Regulatory Priorities reports give boards and compliance leaders clearer expectations. Consumer investment firms need stronger monitoring, evidence and customer-outcomes oversight. #### Key points - The FCA’s sector reports set out risks, supervisory focus areas and expected firm responses. - Consumer investment firms are directed to four strategic priorities. - Several expectations affect customer interaction monitoring, product value and compliance evidence. - Fair value, target market oversight and vulnerability considerations require evidence from real interactions. - Ongoing advice services and evidence-based supervision make monitoring technology more important. The Financial Conduct Authority (FCA) has introduced a new way of communicating its expectations to the financial services sectors. In February, the regulator published the first of its [**Regulatory Priorities reports**](https://www.fca.org.uk/regulatory-priorities), designed to give firms clearer visibility of the risks, supervisory focus areas and expectations shaping the year ahead. These reports are expected to become the FCA’s central annual communication for each sector, offering a more structured view of regulatory priorities. For consumer investment firms, the message is straightforward: these reports should be treated as essential reading for boards and compliance leaders. Each report outlines the work the FCA has undertaken in the sector, the risks it believes require attention, and, most importantly, **what firms are expected to do in response.** Organisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator’s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight. Organisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator’s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight. #### The FCA’s four priorities for consumer investments In its [consumer investments report,](https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf) published on 4th March, the FCA identifies four strategic priorities: - Building a stronger investment culture - Strengthening trust in the market - Securing good consumer outcomes - Improving financial crime controls These priorities sit within the FCA’s wider regulatory strategy and signal where supervisory scrutiny is likely to increase over the coming year. Their importance was reinforced by [Lucy Castledine, Director of Consumer Investments at the FCA, during remarks at The Investing and Saving Alliance (TISA) Inclusive Investing Conference](https://www.fca.org.uk/news/speeches/consumer-investments-priorities-strengthening-trust-supporting-investors). She emphasised that the report should serve as a guide for boards and executive teams when assessing how well their firms are meeting regulatory expectations. For firms, the report goes beyond high-level strategy. The FCA outlines 11 specific expectations, several of which directly affect how firms monitor customer interactions, assess product value and demonstrate compliance with the regulator’s consumer protection objectives. Key areas in particular stand out… #### Demonstrating fair value under Consumer Duty The first is the requirement for firms to clearly demonstrate fair value in the products and services they offer. Fair value is a core pillar of the FCA’s Consumer Duty framework, which requires firms to ensure customers receive products and services that represent appropriate value relative to their cost. The regulator recently confirmed it’s investigating several firms for potential breaches of fair value requirements, signalling that enforcement activity in this area may increase. For many firms, fair value assessments have traditionally relied on internal reviews and pricing analysis. However, the FCA increasingly expects firms to provide **evidence that customers are actually receiving the value firms claim to deliver**. This requires a more data-driven approach. Firms need to demonstrate how value assessments are conducted, what information informs pricing decisions, and how value is monitored over time. Crucially, firms need to demonstrate that customer outcomes align with the intended benefits of their products or services. As a result, compliance teams should be placing greater emphasis on **customer interaction monitoring**, using data from calls, messages and digital communications to verify how products are explained, sold and serviced in practice. #### Product design and target market oversight Another key focus of the report is **product design and distribution governance.** The FCA expects firms to define clear target markets for their products and ensure that distribution channels remain aligned with those intended customers. This means firms must maintain oversight of how products are sold and ensure that sales practices reflect the characteristics and needs of the target market. The regulator is also placing strong emphasis on **customers in vulnerable circumstances.** Firms must demonstrate that vulnerability considerations are embedded throughout the product lifecycle, including design, distribution strategies and ongoing monitoring. For many organisations, meeting these expectations requires greater visibility into real customer interactions. It’s no longer sufficient to rely solely on policy frameworks or training programmes. Firms increasingly need to analyse interaction data to confirm that advice processes and sales conversations reflect their intended product governance approach. #### Outcomes monitoring is becoming a regulatory expectation Across the report, one theme appears consistently: the importance of **monitoring customer outcomes**. The FCA expects firms to produce meaningful management information (MI) that allows them to assess whether customers are receiving products that meet their needs and deliver the intended outcomes. In other words, compliance should be supported by evidence, not assumptions. Producing this insight can be challenging. Consumer investment firms often handle large volumes of customer communications across multiple channels, making it difficult to review interactions manually or identify emerging risks. However, effective **Consumer Duty monitoring** increasingly depends on the ability to analyse these interactions at scale. By identifying patterns in advice conversations, product explanations and service interactions, firms can detect potential mis-selling risks or conduct issues earlier and take corrective action before they become regulatory concerns. For CROs and CTOs, this makes outcomes monitoring both a compliance challenge and a data challenge. Firms need systems capable of capturing relevant interactions, analysing them efficiently and producing actionable insights for risk and compliance teams. #### Ongoing advice services under review The FCA’s report also provides insight into the regulator’s planned supervisory activity. One notable area is **ongoing advice services**. The FCA confirmed that it will conduct follow-up work in the first half of the year, asking firms to demonstrate what steps they have taken since the publication of its February 2025 paper on the topic. Firms offering ongoing advice will need to show that customers paying for these services are receiving the support and engagement they were promised. This may involve demonstrating that regular reviews are taking place and that the service continues to deliver value to customers. #### Technology is becoming central to regulatory compliance The FCA’s Regulatory Priorities highlight a broader trend in financial services regulation: compliance increasingly depends on **operational visibility and data-driven monitoring**. To demonstrate fair value, monitor customer outcomes and ensure products reach the right customers, firms need clear insight into how services are delivered across real customer interactions. This is particularly important as regulators move away from purely policy-based compliance and toward **evidence-based supervision**. For many regulated firms, this means investing in technology that can capture and analyse large volumes of customer interaction data. Automated monitoring and AI-driven analysis can help compliance teams identify risks earlier, strengthen Consumer Duty oversight and respond more confidently to regulatory enquiries. As the FCA’s new reporting framework takes hold, firms that build stronger monitoring capabilities will be better positioned not only to meet regulatory expectations but also to strengthen trust and transparency in the consumer investment market. #### How Recordsure can help Recordsure helps financial services firms gain clearer visibility and oversight of customer interactions and analyse communications at scale. Firms can better monitor advice processes, identify potential conduct risks and generate the management information needed to support the regulator’s expectations, such as Consumer Duty and fair value oversight. #### Supporting sources - [FCA Regulatory Priorities](https://www.fca.org.uk/regulatory-priorities) - [FCA consumer investments report](https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf) - [Consumer investments priorities speech](https://www.fca.org.uk/news/speeches/consumer-investments-priorities-strengthening-trust-supporting-investors) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Consumer investment firms need stronger monitoring, evidence and customer-outcomes oversight.\n\nThe Financial Conduct Authority (FCA) has introduced a new way of communicating its expectations to the financial services sectors. In February, the regulator published the first of its Regulatory Priorities reports, designed to give firms clearer visibility of the risks, supervisory focus areas and expectations shaping the year ahead.\n\nThese reports are expected to become the FCA\u2019s central annual communication for each sector, offering a more structured view of regulatory priorities. For consumer investment firms, the message is straightforward: these reports should be treated as essential reading for boards and compliance leaders.\n\nEach report outlines the work the FCA has undertaken in the sector, the risks it believes require attention, and, most importantly, what firms are expected to do in response. Organisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator\u2019s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight.\n\nOrganisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator\u2019s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight.\n\nThe FCA\u2019s four priorities for consumer investments\n\nIn its consumer investments report, published on 4th March, the FCA identifies four strategic priorities:\n\n\u2022 Building a stronger investment culture\n\n\u2022 Strengthening trust in the market\n\n\u2022 Securing good consumer outcomes\n\n\u2022 Improving financial crime controls\n\nThese priorities sit within the FCA\u2019s wider regulatory strategy and signal where supervisory scrutiny is likely to increase over the coming year. Their importance was reinforced by Lucy Castledine, Director of Consumer Investments at the FCA, during remarks at The Investing and Saving Alliance (TISA) Inclusive Investing Conference. She emphasised that the report should serve as a guide for boards and executive teams when assessing how well their firms are meeting regulatory expectations.\n\nFor firms, the report goes beyond high-level strategy. The FCA outlines 11 specific expectations, several of which directly affect how firms monitor customer interactions, assess product value and demonstrate compliance with the regulator\u2019s consumer protection objectives.\n\nKey areas in particular stand out\u2026\n\nDemonstrating fair value under Consumer Duty\n\nThe first is the requirement for firms to clearly demonstrate fair value in the products and services they offer.\n\nFair value is a core pillar of the FCA\u2019s Consumer Duty framework, which requires firms to ensure customers receive products and services that represent appropriate value relative to their cost. The regulator recently confirmed it\u2019s investigating several firms for potential breaches of fair value requirements, signalling that enforcement activity in this area may increase.\n\nFor many firms, fair value assessments have traditionally relied on internal reviews and pricing analysis. However, the FCA increasingly expects firms to provide evidence that customers are actually receiving the value firms claim to deliver.\n\nThis requires a more data-driven approach. Firms need to demonstrate how value assessments are conducted, what information informs pricing decisions, and how value is monitored over time.\n\nCrucially, firms need to demonstrate that customer outcomes align with the intended benefits of their products or services.\n\nAs a result, compliance teams should be placing greater emphasis on customer interaction monitoring, using data from calls, messages and digital communications to verify how products are explained, sold and serviced in practice.\n\nProduct design and target market oversight\n\nAnother key focus of the report is product design and distribution governance.\n\nThe FCA expects firms to define clear target markets for their products and ensure that distribution channels remain aligned with those intended customers. This means firms must maintain oversight of how products are sold and ensure that sales practices reflect the characteristics and needs of the target market.\n\nThe regulator is also placing strong emphasis on customers in vulnerable circumstances. Firms must demonstrate that vulnerability considerations are embedded throughout the product lifecycle, including design, distribution strategies and ongoing monitoring.\n\nFor many organisations, meeting these expectations requires greater visibility into real customer interactions. It\u2019s no longer sufficient to rely solely on policy frameworks or training programmes. Firms increasingly need to analyse interaction data to confirm that advice processes and sales conversations reflect their intended product governance approach.\n\nOutcomes monitoring is becoming a regulatory expectation\n\nAcross the report, one theme appears consistently: the importance of monitoring customer outcomes.\n\nThe FCA expects firms to produce meaningful management information (MI) that allows them to assess whether customers are receiving products that meet their needs and deliver the intended outcomes. In other words, compliance should be supported by evidence, not assumptions.\n\nProducing this insight can be challenging. Consumer investment firms often handle large volumes of customer communications across multiple channels, making it difficult to review interactions manually or identify emerging risks.\n\nHowever, effective Consumer Duty monitoring increasingly depends on the ability to analyse these interactions at scale. By identifying patterns in advice conversations, product explanations and service interactions, firms can detect potential mis-selling risks or conduct issues earlier and take corrective action before they become regulatory concerns.\n\nFor CROs and CTOs, this makes outcomes monitoring both a compliance challenge and a data challenge. Firms need systems capable of capturing relevant interactions, analysing them efficiently and producing actionable insights for risk and compliance teams.\n\nOngoing advice services under review\n\nThe FCA\u2019s report also provides insight into the regulator\u2019s planned supervisory activity.\n\nOne notable area is ongoing advice services. The FCA confirmed that it will conduct follow-up work in the first half of the year, asking firms to demonstrate what steps they have taken since the publication of its February 2025 paper on the topic.\n\nFirms offering ongoing advice will need to show that customers paying for these services are receiving the support and engagement they were promised. This may involve demonstrating that regular reviews are taking place and that the service continues to deliver value to customers.\n\nTechnology is becoming central to regulatory compliance\n\nThe FCA\u2019s Regulatory Priorities highlight a broader trend in financial services regulation: compliance increasingly depends on operational visibility and data-driven monitoring.\n\nTo demonstrate fair value, monitor customer outcomes and ensure products reach the right customers, firms need clear insight into how services are delivered across real customer interactions. This is particularly important as regulators move away from purely policy-based compliance and toward evidence-based supervision.\n\nFor many regulated firms, this means investing in technology that can capture and analyse large volumes of customer interaction data. Automated monitoring and AI-driven analysis can help compliance teams identify risks earlier, strengthen Consumer Duty oversight and respond more confidently to regulatory enquiries.\n\nAs the FCA\u2019s new reporting framework takes hold, firms that build stronger monitoring capabilities will be better positioned not only to meet regulatory expectations but also to strengthen trust and transparency in the consumer investment market.\n\nHow Recordsure can help\n\nRecordsure helps financial services firms gain clearer visibility and oversight of customer interactions and analyse communications at scale. Firms can better monitor advice processes, identify potential conduct risks and generate the management information needed to support the regulator\u2019s expectations, such as Consumer Duty and fair value oversight.", "wordCount": 1197, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consumer investment priorities" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-8" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Regulatory Priorities", "url": "https://www.fca.org.uk/regulatory-priorities" }, { "@type": "CreativeWork", "name": "FCA consumer investments report", "url": "https://www.fca.org.uk/publication/regulatory-priorities/consumer-investments-report.pdf" }, { "@type": "CreativeWork", "name": "Consumer investments priorities speech", "url": "https://www.fca.org.uk/news/speeches/consumer-investments-priorities-strengthening-trust-supporting-investors" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "text": "The Financial Conduct Authority (FCA) has introduced a new way of communicating its expectations to the financial services sectors. In February, the regulator published the first of its Regulatory Priorities reports, designed to give firms clearer visibility of the risks, supervisory focus areas and expectations shaping the year ahead.\n\nThese reports are expected to become the FCA\u2019s central annual communication for each sector, offering a more structured view of regulatory priorities. For consumer investment firms, the message is straightforward: these reports should be treated as essential reading for boards and compliance leaders.\n\nEach report outlines the work the FCA has undertaken in the sector, the risks it believes require attention, and, most importantly, what firms are expected to do in response. Organisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator\u2019s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight.\n\nOrganisations are expected to review the report relevant to their sector and assess whether their governance, monitoring processes and customer outcomes align with the regulator\u2019s expectations. Where gaps exist, firms should establish clear remediation plans with defined ownership, timelines and oversight." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA\u2019s four priorities for consumer investments", "text": "In its consumer investments report, published on 4th March, the FCA identifies four strategic priorities:\n\n\u2022 Building a stronger investment culture\n\n\u2022 Strengthening trust in the market\n\n\u2022 Securing good consumer outcomes\n\n\u2022 Improving financial crime controls\n\nThese priorities sit within the FCA\u2019s wider regulatory strategy and signal where supervisory scrutiny is likely to increase over the coming year. Their importance was reinforced by Lucy Castledine, Director of Consumer Investments at the FCA, during remarks at The Investing and Saving Alliance (TISA) Inclusive Investing Conference. She emphasised that the report should serve as a guide for boards and executive teams when assessing how well their firms are meeting regulatory expectations.\n\nFor firms, the report goes beyond high-level strategy. The FCA outlines 11 specific expectations, several of which directly affect how firms monitor customer interactions, assess product value and demonstrate compliance with the regulator\u2019s consumer protection objectives.\n\nKey areas in particular stand out\u2026" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "Demonstrating fair value under Consumer Duty", "text": "The first is the requirement for firms to clearly demonstrate fair value in the products and services they offer.\n\nFair value is a core pillar of the FCA\u2019s Consumer Duty framework, which requires firms to ensure customers receive products and services that represent appropriate value relative to their cost. The regulator recently confirmed it\u2019s investigating several firms for potential breaches of fair value requirements, signalling that enforcement activity in this area may increase.\n\nFor many firms, fair value assessments have traditionally relied on internal reviews and pricing analysis. However, the FCA increasingly expects firms to provide evidence that customers are actually receiving the value firms claim to deliver.\n\nThis requires a more data-driven approach. Firms need to demonstrate how value assessments are conducted, what information informs pricing decisions, and how value is monitored over time.\n\nCrucially, firms need to demonstrate that customer outcomes align with the intended benefits of their products or services.\n\nAs a result, compliance teams should be placing greater emphasis on customer interaction monitoring, using data from calls, messages and digital communications to verify how products are explained, sold and serviced in practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "Product design and target market oversight", "text": "Another key focus of the report is product design and distribution governance.\n\nThe FCA expects firms to define clear target markets for their products and ensure that distribution channels remain aligned with those intended customers. This means firms must maintain oversight of how products are sold and ensure that sales practices reflect the characteristics and needs of the target market.\n\nThe regulator is also placing strong emphasis on customers in vulnerable circumstances. Firms must demonstrate that vulnerability considerations are embedded throughout the product lifecycle, including design, distribution strategies and ongoing monitoring.\n\nFor many organisations, meeting these expectations requires greater visibility into real customer interactions. It\u2019s no longer sufficient to rely solely on policy frameworks or training programmes. Firms increasingly need to analyse interaction data to confirm that advice processes and sales conversations reflect their intended product governance approach." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "Outcomes monitoring is becoming a regulatory expectation", "text": "Across the report, one theme appears consistently: the importance of monitoring customer outcomes.\n\nThe FCA expects firms to produce meaningful management information (MI) that allows them to assess whether customers are receiving products that meet their needs and deliver the intended outcomes. In other words, compliance should be supported by evidence, not assumptions.\n\nProducing this insight can be challenging. Consumer investment firms often handle large volumes of customer communications across multiple channels, making it difficult to review interactions manually or identify emerging risks.\n\nHowever, effective Consumer Duty monitoring increasingly depends on the ability to analyse these interactions at scale. By identifying patterns in advice conversations, product explanations and service interactions, firms can detect potential mis-selling risks or conduct issues earlier and take corrective action before they become regulatory concerns.\n\nFor CROs and CTOs, this makes outcomes monitoring both a compliance challenge and a data challenge. Firms need systems capable of capturing relevant interactions, analysing them efficiently and producing actionable insights for risk and compliance teams." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "Ongoing advice services under review", "text": "The FCA\u2019s report also provides insight into the regulator\u2019s planned supervisory activity.\n\nOne notable area is ongoing advice services. The FCA confirmed that it will conduct follow-up work in the first half of the year, asking firms to demonstrate what steps they have taken since the publication of its February 2025 paper on the topic.\n\nFirms offering ongoing advice will need to show that customers paying for these services are receiving the support and engagement they were promised. This may involve demonstrating that regular reviews are taking place and that the service continues to deliver value to customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "Technology is becoming central to regulatory compliance", "text": "The FCA\u2019s Regulatory Priorities highlight a broader trend in financial services regulation: compliance increasingly depends on operational visibility and data-driven monitoring.\n\nTo demonstrate fair value, monitor customer outcomes and ensure products reach the right customers, firms need clear insight into how services are delivered across real customer interactions. This is particularly important as regulators move away from purely policy-based compliance and toward evidence-based supervision.\n\nFor many regulated firms, this means investing in technology that can capture and analyse large volumes of customer interaction data. Automated monitoring and AI-driven analysis can help compliance teams identify risks earlier, strengthen Consumer Duty oversight and respond more confidently to regulatory enquiries.\n\nAs the FCA\u2019s new reporting framework takes hold, firms that build stronger monitoring capabilities will be better positioned not only to meet regulatory expectations but also to strengthen trust and transparency in the consumer investment market." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure can help", "text": "Recordsure helps financial services firms gain clearer visibility and oversight of customer interactions and analyse communications at scale. Firms can better monitor advice processes, identify potential conduct risks and generate the management information needed to support the regulator\u2019s expectations, such as Consumer Duty and fair value oversight." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-the-fcas-regulatory-priorities-mean-for-consumer-investment-firms/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What are the FCA Regulatory Priorities reports?", "acceptedAnswer": { "@type": "Answer", "text": "They are sector reports intended to give firms clearer visibility of risks, supervisory focus areas and expectations for the year ahead." } }, { "@type": "Question", "name": "What priorities are named for consumer investments?", "acceptedAnswer": { "@type": "Answer", "text": "The four priorities are building a stronger investment culture, strengthening trust, securing good consumer outcomes and improving financial crime controls." } }, { "@type": "Question", "name": "Why does outcomes monitoring matter?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects meaningful management information showing whether customers receive products that meet their needs and deliver intended outcomes." } } ] } ] } ``` ### UK FinTech Awards Finalist RegTech of the Year 2026 - URL: https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/ - Published: 2026-03-05 - Modified: 2026-10-09 **Topic:** RegTech awards Recordsure and TCC were named finalists for RegTech of the Year by the UK FinTech Awards, recognising AI-powered compliance analytics combined with regulatory consulting expertise. #### Key points - The UK FinTech Awards named Recordsure and TCC finalists for RegTech of the Year. - The nomination recognises AI-powered compliance technology combined with regulatory expertise. - Recordsure and TCC support 100% oversight of customer interactions and documentation. - Attivo reported lower review costs, full file review and more focused compliance work. - The approach combines technology, governance and regulatory expertise. We’re proud to announce that Recordsure + TCC have been named **finalists for RegTech of the Year** by the prestigious UK [FinTech Awards](https://ukfintechawards.co.uk/). The nomination recognises the powerful combination of AI-driven compliance technology and deep regulatory expertise that is helping financial services firms transform how they evidence, manage and improve compliance outcomes. In an industry where regulatory expectations are constantly evolving, this recognition highlights the growing importance of solutions that combine advanced technology with real-world regulatory insight. #### Redefining compliance for a new regulatory era Financial services organisations today face increasing pressure to demonstrate not only that they are compliant, but that they can evidence compliance at scale across every customer interaction. That’s where Recordsure + TCC solutions come in. Together, we deliver an innovative AI-led solution that enables organisations to capture, analyse and evidence 100% of customer interactions and documentation, replacing traditional sampling approaches with intelligent, AI-powered oversight. By combining Recordsure’s advanced compliance analytics with TCC’s regulatory consulting expertise, firms gain a solution that is not only technologically advanced but grounded in real regulatory practice and governance. The result is a powerful platform that helps organisations: - Strengthen regulatory compliance - Reduce operational and conduct risk - Improve customer outcomes - Unlock significant operational efficiencies #### Recordsure technology: Technology built by compliance experts At the centre of the nomination is Recordsure technology, a powerful suite of compliance analytics tools designed specifically for highly regulated industries. Unlike generic AI tools, Recordsure technology has been developed by compliance experts, for compliance teams. The platform combines multiple layers of advanced technology to deliver real regulatory insight: **Predictive AI trained on real customer interactions – turning insights into evidence** Models trained on more than 100,000 customer conversations and transcripts identify and categorise information and critical compliance signals with speed and accuracy. Structured case files are automatically created, enabling compliance teams to review cases faster and more consistently. **Generative AI for conversation summaries** GenAI uses Predictive AI findings and creates clear, concise summaries and case files. **Continuous oversight from regulatory specialists** Through the partnership with TCC, AI models are continually refined to ensure outputs remain aligned with regulatory frameworks, such as the Consumer Duty, and evolving supervisory expectations. This approach ensures organisations receive insights that are meaningful, actionable and regulator scrutiny ready. #### Proven results: Delivering measurable impact The real power of the Recordsure + TCC approach lies in the outcomes it delivers for clients. Financial advice firm **Attivo** implemented the solution to enhance oversight of ongoing advice and client meetings. The results were immediate and transformative: - 40% reduction in per-case compliance review costs - 100% of client files reviewed and analysed - Compliance teams focused on high-risk cases flagged by AI - Improved quality and consistency of advice monitoring What began as a compliance improvement initiative quickly evolved into a **scalable operational advantage**, enabling Attivo to increase oversight while freeing skilled teams to focus on higher-value work. #### Setting a new standard for RegTech What differentiates Recordsure technology is the fusion of technology, governance and regulatory expertise. While many solutions focus purely on automation, the Recordsure + TCC model embeds compliance expertise throughout the entire lifecycle, from solution design and AI model development to implementation and governance frameworks. This approach ensures that organisations benefit from: - **Technology aligned with regulatory expectations** - **Transparent and responsible AI models** - **Clear governance structures supporting adoption** - **Solutions proven in highly regulated environments** The result is a predictive AI-led RegTech platform that goes beyond GenAI summaries and automation to deliver trusted, evidence-led compliance at scale. #### A recognition of innovation and industry impact Being shortlisted for RegTech of the Year by the UK FinTech Awards is a testament to the impact Recordsure and TCC are making across the financial services sector. As regulatory scrutiny increases and organisations seek smarter ways to manage compliance, the demand for intelligent, scalable and expert-led RegTech solutions continues to grow. This recognition reflects not only the strength of the technology but also the collaborative approach that combines AI innovation with regulatory expertise. #### Shaping the future of compliance The future of compliance will be defined by organisations that can combine **advanced technology, responsible AI and regulatory insight** to deliver better outcomes for customers and firms alike. Recordsure and TCC are proud to be at the forefront of that transformation. And as finalists of the UK FinTech Awards, we’re excited to continue pushing the boundaries of what RegTech can achieve. #### Supporting sources - [UK FinTech Awards](https://ukfintechawards.co.uk/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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"Person", "name": "" }, "headline": "UK FinTech Awards Finalist RegTech of the Year 2026", "datePublished": "2026-03-05T15:38:09+00:00", "dateModified": "2026-10-09T04:50:34+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/45f2f8755d4b46ce90c739b9c59fd067/thumbnail-1024-5c38aa35a564178e4979bb8e701ccbf57744014bc33426488193e0a22028a49e.jpg", "description": "Recordsure and TCC have been named finalists for RegTech of the Year, recognising their combination of AI-powered compliance technology and regulatory expertise.", "inLanguage": "en-GB", "articleBody": "Recordsure and TCC were named finalists for RegTech of the Year by the UK FinTech Awards, recognising AI-powered compliance analytics combined with regulatory consulting expertise.\n\nWe\u2019re proud to announce that Recordsure + TCC have been named finalists for RegTech of the Year by the prestigious UK FinTech Awards.\n\nThe nomination recognises the powerful combination of AI-driven compliance technology and deep regulatory expertise that is helping financial services firms transform how they evidence, manage and improve compliance outcomes.\n\nIn an industry where regulatory expectations are constantly evolving, this recognition highlights the growing importance of solutions that combine advanced technology with real-world regulatory insight.\n\nRedefining compliance for a new regulatory era\n\nFinancial services organisations today face increasing pressure to demonstrate not only that they are compliant, but that they can evidence compliance at scale across every customer interaction.\n\nThat\u2019s where Recordsure + TCC solutions come in.\n\nTogether, we deliver an innovative AI-led solution that enables organisations to capture, analyse and evidence 100% of customer interactions and documentation, replacing traditional sampling approaches with intelligent, AI-powered oversight.\n\nBy combining Recordsure\u2019s advanced compliance analytics with TCC\u2019s regulatory consulting expertise, firms gain a solution that is not only technologically advanced but grounded in real regulatory practice and governance.\n\nThe result is a powerful platform that helps organisations:\n\n\u2022 Strengthen regulatory compliance\n\u2022 Reduce operational and conduct risk\n\u2022 Improve customer outcomes\n\u2022 Unlock significant operational efficiencies\n\nRecordsure technology: Technology built by compliance experts\n\nAt the centre of the nomination is Recordsure technology, a powerful suite of compliance analytics tools designed specifically for highly regulated industries. Unlike generic AI tools, Recordsure technology has been developed by compliance experts, for compliance teams.\n\nThe platform combines multiple layers of advanced technology to deliver real regulatory insight:\n\nPredictive AI trained on real customer interactions \u2013 turning insights into evidence\n\nModels trained on more than 100,000 customer conversations and transcripts identify and categorise information and critical compliance signals with speed and accuracy. Structured case files are automatically created, enabling compliance teams to review cases faster and more consistently.\n\nGenerative AI for conversation summaries\n\nGenAI uses Predictive AI findings and creates clear, concise summaries and case files.\n\nContinuous oversight from regulatory specialists\n\nThrough the partnership with TCC, AI models are continually refined to ensure outputs remain aligned with regulatory frameworks, such as the Consumer Duty, and evolving supervisory expectations.\n\nThis approach ensures organisations receive insights that are meaningful, actionable and regulator scrutiny ready.\n\nProven results: Delivering measurable impact\n\nThe real power of the Recordsure + TCC approach lies in the outcomes it delivers for clients.\n\nFinancial advice firm Attivo implemented the solution to enhance oversight of ongoing advice and client meetings. The results were immediate and transformative:\n\n\u2022 40% reduction in per-case compliance review costs\n\u2022 100% of client files reviewed and analysed\n\u2022 Compliance teams focused on high-risk cases flagged by AI\n\u2022 Improved quality and consistency of advice monitoring\n\nWhat began as a compliance improvement initiative quickly evolved into a scalable operational advantage, enabling Attivo to increase oversight while freeing skilled teams to focus on higher-value work.\n\nSetting a new standard for RegTech\n\nWhat differentiates Recordsure technology is the fusion of technology, governance and regulatory expertise.\n\nWhile many solutions focus purely on automation, the Recordsure + TCC model embeds compliance expertise throughout the entire lifecycle, from solution design and AI model development to implementation and governance frameworks.\n\nThis approach ensures that organisations benefit from:\n\n\u2022 Technology aligned with regulatory expectations\n\u2022 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technology, responsible AI and regulatory insight to deliver better outcomes for customers and firms alike.\n\nRecordsure and TCC are proud to be at the forefront of that transformation.\n\nAnd as finalists of the UK FinTech Awards, we\u2019re excited to continue pushing the boundaries of what RegTech can achieve.", "wordCount": 758, "keywords": [ "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech awards" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#analysis-1" }, { "@id": 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"inLanguage": "en-GB", "headline": "Redefining compliance for a new regulatory era", "text": "Financial services organisations today face increasing pressure to demonstrate not only that they are compliant, but that they can evidence compliance at scale across every customer interaction.\n\nThat\u2019s where Recordsure + TCC solutions come in.\n\nTogether, we deliver an innovative AI-led solution that enables organisations to capture, analyse and evidence 100% of customer interactions and documentation, replacing traditional sampling approaches with intelligent, AI-powered oversight.\n\nBy combining Recordsure\u2019s advanced compliance analytics with TCC\u2019s regulatory consulting expertise, firms gain a solution that is not only technologically advanced but grounded in real regulatory practice and governance.\n\nThe result is a powerful platform that helps organisations:\n\n\u2022 Strengthen regulatory compliance\n\u2022 Reduce operational and conduct risk\n\u2022 Improve customer 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Unlike generic AI tools, Recordsure technology has been developed by compliance experts, for compliance teams.\n\nThe platform combines multiple layers of advanced technology to deliver real regulatory insight:\n\nPredictive AI trained on real customer interactions \u2013 turning insights into evidence\n\nModels trained on more than 100,000 customer conversations and transcripts identify and categorise information and critical compliance signals with speed and accuracy. Structured case files are automatically created, enabling compliance teams to review cases faster and more consistently.\n\nGenerative AI for conversation summaries\n\nGenAI uses Predictive AI findings and creates clear, concise summaries and case files.\n\nContinuous oversight from regulatory specialists\n\nThrough the partnership with TCC, AI models are continually refined to ensure outputs remain aligned with regulatory frameworks, such as the Consumer Duty, and evolving supervisory expectations.\n\nThis approach ensures organisations receive insights that are meaningful, actionable and regulator scrutiny ready." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "inLanguage": "en-GB", "headline": "Proven results: Delivering measurable impact", "text": "The real power of the Recordsure + TCC approach lies in the outcomes it delivers for clients.\n\nFinancial advice firm Attivo implemented the solution to enhance oversight of ongoing advice and client meetings. The results were immediate and transformative:\n\n\u2022 40% reduction in per-case compliance review costs\n\u2022 100% of client files reviewed and analysed\n\u2022 Compliance teams focused on high-risk cases flagged by AI\n\u2022 Improved quality and consistency of advice monitoring\n\nWhat began as a compliance improvement initiative quickly evolved into a scalable operational advantage, enabling Attivo to increase oversight while freeing skilled teams to focus on higher-value work." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "inLanguage": "en-GB", "headline": "Setting a new standard for RegTech", "text": "What differentiates Recordsure technology is the fusion of technology, governance and regulatory expertise.\n\nWhile many solutions focus purely on automation, the Recordsure + TCC model embeds compliance expertise throughout the entire lifecycle, from solution design and AI model development to implementation and governance frameworks.\n\nThis approach ensures that organisations benefit from:\n\n\u2022 Technology aligned with regulatory expectations\n\u2022 Transparent and responsible AI models\n\u2022 Clear governance structures supporting adoption\n\u2022 Solutions proven in highly regulated environments\n\nThe result is a predictive AI-led RegTech platform that goes beyond GenAI summaries and automation to deliver trusted, evidence-led compliance at scale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "inLanguage": "en-GB", "headline": "A recognition of innovation and industry impact", "text": "Being shortlisted for RegTech of the Year by the UK FinTech Awards is a testament to the impact Recordsure and TCC are making across the financial services sector.\n\nAs regulatory scrutiny increases and organisations seek smarter ways to manage compliance, the demand for intelligent, scalable and expert-led RegTech solutions continues to grow.\n\nThis recognition reflects not only the strength of the technology but also the collaborative approach that combines AI innovation with regulatory expertise." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "inLanguage": "en-GB", "headline": "Shaping the future of compliance", "text": "The future of compliance will be defined by organisations that can combine advanced technology, responsible AI and regulatory insight to deliver better outcomes for customers and firms alike.\n\nRecordsure and TCC are proud to be at the forefront of that transformation.\n\nAnd as finalists of the UK FinTech Awards, we\u2019re excited to continue pushing the boundaries of what RegTech can achieve." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-named-regtech-of-the-year-finalists/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What award recognition did Recordsure and TCC receive?", "acceptedAnswer": { "@type": "Answer", "text": "They were named finalists for RegTech of the Year by the UK FinTech Awards." } }, { "@type": "Question", "name": "What does the nomination recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognises the combination of AI-powered compliance technology and regulatory expertise used to evidence, manage and improve compliance outcomes." } }, { "@type": "Question", "name": "How does the Recordsure and TCC approach support oversight?", "acceptedAnswer": { "@type": "Answer", "text": "It captures, analyses and evidences 100% of customer interactions and documentation, replacing sampling with AI-powered oversight." } }, { "@type": "Question", "name": "What results were reported by Attivo?", "acceptedAnswer": { "@type": "Answer", "text": "Attivo reported a 40% reduction in per-case compliance review costs, 100% file review, more focused high-risk case work and improved monitoring consistency." } } ] } ] } ``` ### Money Marketing: Joe Norburn Consumer Duty and the next phase of advice regulation - URL: https://recordsure.com/insights/news/money-marketing-joe-norburn-consumer-duty-and-the-next-phase-of-advice-regulation/ - Published: 2026-03-02 - Modified: 2026-10-09 **Topic:** Consumer Duty evidence The next phase of Consumer Duty is moving from implementation to evidence. Firms should focus on continuous improvement, customer journeys, vulnerability support and measurable change. #### Key points - The next phase of Consumer Duty marks a shift from implementation to evidence. - The FCA expects firms to demonstrate outcomes through data, monitoring and measurable improvements. - Firms should strengthen fair value testing, customer journeys and vulnerability support. Recently featured in Money Marketing, Joe Norburn TCC Group’s CEO ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)), outlines how the next phase of Consumer Duty marks a shift from implementation to evidence. The Financial Conduct Authority (FCA) is signalling a move away from additional prescriptive rules, instead expecting firms to demonstrate —through data, monitoring and measurable improvements — how they are delivering good customer outcomes in practice. Firm’s focus should now be on continuous improvement: testing fair value, refining customer journeys, strengthening vulnerability support and ensuring insights lead to tangible change. Firms that embed Consumer Duty as a strategic driver, rather than a compliance exercise, will be better positioned to meet regulatory scrutiny, build trust and deliver sustainable, client-centred growth. #### Supporting sources - [Money Marketing](https://www.moneymarketing.co.uk/opinion/joe-norburn-consumer-duty-and-the-next-phase-of-advice-regulation/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Firms should focus on continuous improvement, customer journeys, vulnerability support and measurable change.\n\nRecently featured in Money Marketing, Joe Norburn TCC Group\u2019s CEO (TCC, Momenta and Recordsure), outlines how the next phase of Consumer Duty marks a shift from implementation to evidence. The Financial Conduct Authority (FCA) is signalling a move away from additional prescriptive rules, instead expecting firms to demonstrate \u2014through data, monitoring and measurable improvements \u2014 how they are delivering good customer outcomes in practice.\n\nFirm\u2019s focus should now be on continuous improvement: testing fair value, refining customer journeys, strengthening vulnerability support and ensuring insights lead to tangible change. 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The Financial Conduct Authority (FCA) is signalling a move away from additional prescriptive rules, instead expecting firms to demonstrate \u2014through data, monitoring and measurable improvements \u2014 how they are delivering good customer outcomes in practice.\n\nFirm\u2019s focus should now be on continuous improvement: testing fair value, refining customer journeys, strengthening vulnerability support and ensuring insights lead to tangible change. Firms that embed Consumer Duty as a strategic driver, rather than a compliance exercise, will be better positioned to meet regulatory scrutiny, build trust and deliver sustainable, client-centred growth." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/money-marketing-joe-norburn-consumer-duty-and-the-next-phase-of-advice-regulation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/money-marketing-joe-norburn-consumer-duty-and-the-next-phase-of-advice-regulation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What shift is happening in Consumer Duty regulation?", "acceptedAnswer": { "@type": "Answer", "text": "A shift from implementation to evidence: firms are expected to demonstrate good customer outcomes in practice." } }, { "@type": "Question", "name": "What should firms focus on next?", "acceptedAnswer": { "@type": "Answer", "text": "They should focus on continuous improvement, fair value testing, customer journeys, vulnerability support and turning insights into tangible change." } } ] } ] } ``` ### Forum Events and Media Group: 2026 the year the FCA demands proof, not promises - URL: https://recordsure.com/insights/news/forum-events-and-media-group-2026-the-year-the-fca-demands-proof-not-promises/ - Published: 2026-02-23 - Modified: 2026-10-09 **Topic:** FCA evidence In 2026, firms that can evidence governance and customer outcomes will stand apart from those relying on policy statements. #### Key points - The FCA is moving from prescriptive regulation towards outcomes-based supervision. - Firms that demonstrate effective controls may face reduced reporting burdens. - Consumer Duty remains focused on fair value, clear communications and positive outcomes. - AI, digital tools and third parties require transparency, accountability and strong data governance. - Operational readiness and reliable audit trails are central to trust and competitiveness. Recently featured in [Forum Events and Media Group](https://cybersecureforum.co.uk/briefing/2026-the-year-the-fca-demands-proof-not-promises/), TCC Group ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)) shared Joe Norburn’s reflection on the FCA’s approach in 2026. The FCA is shifting from prescriptive regulation to outcomes-based supervision, with a stronger emphasis on evidence rather than intent. While the regulator is adopting a more pro-growth tone and reducing reporting burdens for firms that can demonstrate effective controls, scrutiny is becoming increasingly targeted and data-led. Consumer Duty remains central. Firms are expected to prove they deliver fair value, clear communications and positive customer outcomes, supported by monitoring and governance rather than policy statements alone. #### Governance, innovation and readiness The FCA is also sharpening its focus on responsible innovation, operational resilience and financial crime prevention. As firms expand their use of AI, digital tools and third-party providers, they need transparency, accountability and strong data governance. Continued attention on areas such as motor finance, cyber security and customer vulnerability highlights the need for operational readiness and reliable audit trails. Ultimately, 2026 will distinguish firms that can evidence strong governance and customer-centric practices from those that cannot, making demonstrable capability a driver of trust and competitiveness. #### Supporting sources - [Forum Events and Media Group](https://cybersecureforum.co.uk/briefing/2026-the-year-the-fca-demands-proof-not-promises/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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FCA supervision is expected to become more targeted and data-led. #### Key points - The FCA is expected to emphasise evidence over intent in 2026. - Supervision is shifting towards more targeted, data-led activity. - Firms that show strong governance and fair outcomes may benefit from lighter reporting. - Responsible AI, operational resilience, motor finance, cyber and data protection remain priorities. TCC Group said 2026 will see the Financial Conduct Authority place greater emphasis on evidence over intent. The FCA is expected to shift to more targeted, data-led supervision while maintaining a pro-growth stance. Firms that can clearly demonstrate strong governance, fair customer outcomes and effective risk controls may benefit from lighter reporting, but scrutiny will be sharper and more outcome-focused, particularly under Consumer Duty requirements. #### Proof of capability Alongside this, regulators are prioritising responsible AI use, operational resilience, motor finance preparedness and integrated cyber and data protection. The message for firms is clear: those investing in transparent systems, reliable data and customer-centred practices will reduce regulatory risk and gain competitive trust, as success in 2026 will depend on proving capability rather than promising compliance. #### Supporting sources - [2026: the year the FCA demands proof, not promises](https://alwaysfinance.co.uk/2026/01/27/2026-the-year-the-fca-demands-proof-not-promises/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Bad execution is. - URL: https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/ - Published: 2026-02-18 - Modified: 2026-10-09 **Topic:** Wealth consolidation Consolidation is now a structural reality in UK wealth management and advice. The central risk is poor execution, not mergers themselves. #### Key points - Consolidation is being driven by succession pressures, regulatory demands and the need for scale. - FCA scrutiny is focused on governance, data and oversight as firms grow. - Boards must evidence risk control, conflict management and service standards during integration. - Data-led, continuous monitoring helps firms protect client outcomes as organisations expand. Recently featured in [European Business Magazine](https://europeanbusinessmagazine.com/awards/why-consolidation-isnt-the-risk-getting-it-wrong-is/), TCC Group ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)) highlighted that consolidation in the UK wealth management and advice sector has become a structural reality. Succession pressures, regulatory demands and the need for greater scale are driving merger activity. The FCA’s latest review indicates that mergers are not the main concern. The challenge is whether firms have the governance, data and oversight needed to manage growth without compromising client outcomes. #### Execution and evidence As CEO Joe Norburn explained, financial resilience, disciplined integration and strong cultural governance must underpin acquisition strategies. Boards need to evidence how risks, conflicts and service standards are controlled as organisations expand. The Financial Conduct Authority is signalling that firms must adopt a more data-driven and continuously monitored approach to growth. Poor execution, rather than consolidation itself, poses the greatest risk to long-term stability and consumer protection. #### Supporting sources - [European Business Magazine](https://europeanbusinessmagazine.com/awards/why-consolidation-isnt-the-risk-getting-it-wrong-is/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "European Business Magazine: The UK wealth management merger wave isn\u2019t the risk. Bad execution is.", "item": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#webpage", "url": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/", "name": "European Business Magazine: The UK wealth management merger wave isn\u2019t the risk. Bad execution is.", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-02-18T11:59:42+00:00", "dateModified": "2026-03-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "European Business Magazine: The UK wealth management merger wave isn\u2019t the risk. Bad execution is.", "datePublished": "2026-02-18T11:59:42+00:00", "dateModified": "2026-10-09T04:50:27+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/european-business-magazine-the-uk-wealth-management-merger-wave-isnt-the-risk-bad-execution-is/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/96e724b43ee240f2a0f251ca62a747e0/thumbnail-1600-af35dd2688ae9caf72b8a5465b442184d089d76f43b5ac663aec05b0f19e87bb.jpg", "description": "Execution, governance and evidence matter as consolidation becomes part of the UK wealth management and advice market.", "inLanguage": "en-GB", "articleBody": "Consolidation is now a structural reality in UK wealth management and advice. The central risk is poor execution, not mergers themselves.\n\nRecently featured in European Business Magazine, TCC Group (TCC, Momenta and Recordsure) highlighted that consolidation in the UK wealth management and advice sector has become a structural reality.\n\nSuccession pressures, regulatory demands and the need for greater scale are driving merger activity. The FCA\u2019s latest review indicates that mergers are not the main concern. The challenge is whether firms have the governance, data and oversight needed to manage growth without compromising client outcomes.\n\nExecution and evidence\n\nAs CEO Joe Norburn explained, financial resilience, disciplined integration and strong cultural governance must underpin acquisition strategies. Boards need to evidence how risks, conflicts and service standards are controlled as organisations expand.\n\nThe Financial Conduct Authority is signalling that firms must adopt a more data-driven and continuously monitored approach to growth. 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Boards need to evidence how risks, conflicts and service standards are controlled as organisations expand.\n\nThe Financial Conduct Authority is signalling that firms must adopt a more data-driven and continuously monitored approach to growth. 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Commenting on the UK Parliament Treasury Committee publication of the [Artificial Intelligence in Financial Services](https://publications.parliament.uk/pa/cm5901/cmselect/cmtreasy/684/report.html) report, Joe Norburn, CEO at TCC Group, highlighted the growing regulatory and operational challenge posed by AI. “The Treasury Select Committee’s latest report on AI in financial services delivers a stark warning to regulators and firms. AI is already shaping decisions across credit, insurance and customer services, yet opaque decision-making, the risk of excluding vulnerable consumers, increased fraud and unregulated advice from AI chatbots expose a widening gap in regulatory oversight. What the report exposes is a growing tension inside firms,” Norburn said. The Committee’s report echoes this concern. It emphasises that more than three-quarters of UK financial services firms are now using AI, especially in areas such as insurance claims processing and credit assessments, and that the current [“wait-and-see” regulatory stance may not be sufficient to manage the associated risks](https://committees.parliament.uk/committee/158/treasury-committee/news/211401/current-approach-to-ai-in-financial-services-risks-serious-harm-to-consumers-and-wider-system/). According to the Treasury Committee, AI offers benefits including improved efficiency and faster customer service, but risks to consumers and market stability are real. [Evidence submitted to MPs underscored worries about the lack of transparency in AI-driven decisions](https://www.lbc.co.uk/article/133e2c9816974bff8e88ff4e9e10699f-5HjdR2R_2/), potential financial exclusion of vulnerable customers, fraud and risks to consumer protection. Norburn says AI is evolving quickly, often embedded deep within operational processes, while regulatory expectations remain fragmented and sometimes ambiguous. A passive “wait-and-see” approach is now untenable. Without decisive action, AI-driven decision-making risks amplifying bias, weakening consumer protection and creating new sources of systemic shock. Where accountability is unclear, responsibility will fall through the gaps. The Committee’s recommendations are a turning point in how AI’s role in finance is governed. The Bank of England and the Financial Conduct Authority are being told to provide comprehensive, practical guidance on how existing rules apply to AI by the end of 2026, strengthen accountability under the Senior Managers and Certification Regime, and introduce AI-specific stress testing to prepare for market disruption. HM Treasury is also urged to bring major AI and cloud providers into the Critical Third Parties regime to address concentration risk. #### A timely reminder that responsible AI isn’t just about innovation, it’s about governance, transparency and trust “The message is simple: responsible AI is no longer optional,” Norburn said. “It is fast becoming a core conduct and operational resilience concern. Innovation could and should deliver better outcomes for consumers, but only where governance, transparency and accountability are built in from the outset.” Firms that act now to strengthen governance frameworks, clarify accountability for AI outcomes and align with emerging regulatory expectations will be better placed to navigate the evolving landscape. As AI becomes more embedded in financial decision-making, thoughtful implementation supported by oversight will be key to realising opportunities while protecting consumers and market integrity. Recordsure works to AI principles focused on safety, security, ethical responsibility and accountability, helping firms adopt AI with confidence in regulated environments. #### Supporting sources - [Artificial Intelligence in Financial Services](https://publications.parliament.uk/pa/cm5901/cmselect/cmtreasy/684/report.html) - [Treasury Committee statement on AI in financial services](https://committees.parliament.uk/committee/158/treasury-committee/news/211401/current-approach-to-ai-in-financial-services-risks-serious-harm-to-consumers-and-wider-system/) - [LBC report on evidence submitted to MPs](https://www.lbc.co.uk/article/133e2c9816974bff8e88ff4e9e10699f-5HjdR2R_2/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The Bank of England and the Financial Conduct Authority are being told to provide comprehensive, practical guidance on how existing rules apply to AI by the end of 2026, strengthen accountability under the Senior Managers and Certification Regime, and introduce AI-specific stress testing to prepare for market disruption. HM Treasury is also urged to bring major AI and cloud providers into the Critical Third Parties regime to address concentration risk.\n\nA timely reminder that responsible AI isn\u2019t just about innovation, it\u2019s about governance, transparency and trust\n\n\u201cThe message is simple: responsible AI is no longer optional,\u201d Norburn said. \u201cIt is fast becoming a core conduct and operational resilience concern. Innovation could and should deliver better outcomes for consumers, but only where governance, transparency and accountability are built in from the outset.\u201d\n\nFirms that act now to strengthen governance frameworks, clarify accountability for AI outcomes and align with emerging regulatory expectations will be better placed to navigate the evolving landscape. 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AI is already shaping decisions across credit, insurance and customer services, yet opaque decision-making, the risk of excluding vulnerable consumers, increased fraud and unregulated advice from AI chatbots expose a widening gap in regulatory oversight. What the report exposes is a growing tension inside firms,\u201d Norburn said.\n\nThe Committee\u2019s report echoes this concern. It emphasises that more than three-quarters of UK financial services firms are now using AI, especially in areas such as insurance claims processing and credit assessments, and that the current \u201cwait-and-see\u201d regulatory stance may not be sufficient to manage the associated risks.\n\nAccording to the Treasury Committee, AI offers benefits including improved efficiency and faster customer service, but risks to consumers and market stability are real. Evidence submitted to MPs underscored worries about the lack of transparency in AI-driven decisions, potential financial exclusion of vulnerable customers, fraud and risks to consumer protection.\n\nNorburn says AI is evolving quickly, often embedded deep within operational processes, while regulatory expectations remain fragmented and sometimes ambiguous. A passive \u201cwait-and-see\u201d approach is now untenable. Without decisive action, AI-driven decision-making risks amplifying bias, weakening consumer protection and creating new sources of systemic shock. Where accountability is unclear, responsibility will fall through the gaps.\n\nThe Committee\u2019s recommendations are a turning point in how AI\u2019s role in finance is governed. The Bank of England and the Financial Conduct Authority are being told to provide comprehensive, practical guidance on how existing rules apply to AI by the end of 2026, strengthen accountability under the Senior Managers and Certification Regime, and introduce AI-specific stress testing to prepare for market disruption. HM Treasury is also urged to bring major AI and cloud providers into the Critical Third Parties regime to address concentration risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-a-turning-point-for-regulators-and-firms/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-a-turning-point-for-regulators-and-firms/#webpage" }, "inLanguage": "en-GB", "headline": "A timely reminder that responsible AI isn\u2019t just about innovation, it\u2019s about governance, transparency and trust", "text": "\u201cThe message is simple: responsible AI is no longer optional,\u201d Norburn said. \u201cIt is fast becoming a core conduct and operational resilience concern. Innovation could and should deliver better outcomes for consumers, but only where governance, transparency and accountability are built in from the outset.\u201d\n\nFirms that act now to strengthen governance frameworks, clarify accountability for AI outcomes and align with emerging regulatory expectations will be better placed to navigate the evolving landscape. As AI becomes more embedded in financial decision-making, thoughtful implementation supported by oversight will be key to realising opportunities while protecting consumers and market integrity.\n\nRecordsure works to AI principles focused on safety, security, ethical responsibility and accountability, helping firms adopt AI with confidence in regulated environments." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-a-turning-point-for-regulators-and-firms/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-financial-services-a-turning-point-for-regulators-and-firms/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which report raised these concerns about AI in financial services?", "acceptedAnswer": { "@type": "Answer", "text": "The UK Parliament Treasury Committee report, Artificial Intelligence in Financial Services." } }, { "@type": "Question", "name": "What risks does AI create for financial services?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies opaque AI decisions, exclusion of vulnerable consumers, increased fraud, unregulated chatbot advice and risks to market stability." } }, { "@type": "Question", "name": "What recommendations does the Committee make?", "acceptedAnswer": { "@type": "Answer", "text": "Regulators are being told to provide practical AI guidance by the end of 2026, strengthen SM&CR accountability and introduce AI-specific stress testing." } } ] } ] } ``` ### Watch on-demand: Sessions with our compliance experts - URL: https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/ - Published: 2026-01-29 - Modified: 2026-10-09 **Topic:** Expert sessions Recordsure’s on-demand expert sessions bring together practical discussions on regulatory change, compliance evidence, AI adoption, redress, suitability and vulnerable customer support. #### Key points - Recordsure brings its expert online sessions together in one place. - Sessions cover regulatory change, Consumer Duty, outcomes-based supervision and sustainable AI use. - Topics include motor finance redress, suitability reviews and vulnerable customer support. Recordsure’s online expert sessions are gathered in one place for financial services firms that need to keep up with regulatory change, practical compliance expectations and current good practice. #### Compliance and AI foundations **‘Show me don’t tell me’ compliance** explores how financial services firms can evidence compliance while meeting the FCA’s Consumer Duty and outcomes-based supervision. The session is listed for November 2025. **Building on solid foundations** looks at how wealth management firms can adopt the right tools without introducing unnecessary operational or regulatory risk, and how they can build strong foundations for sustainable AI use in compliance. The session is listed for October 2025. #### Redress and suitability **Redress roadmap** examines what the FCA’s new scheme means in practice for firms and how firms should prepare for the challenges ahead. The session is listed for October 2025. **Right-first-time suitability** considers how wealth managers can improve suitability reviews and move beyond tick-box compliance. The session is listed for October 2025. #### Motor finance and vulnerable customers **Driving change - FCA redress and the future of motor finance** examines the FCA’s proposed motor finance redress scheme and its potential impact on firms. The session is listed for August 2025. **Critical gaps in support for vulnerable customers** explores the practical challenges firms face in identifying and supporting vulnerable customers, and what organisations can do to strengthen their approach. The session is listed for May 2025. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Watch on-demand: Sessions with our compliance experts", "item": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#webpage", "url": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/", "name": "Watch on-demand: Sessions with our compliance experts", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-29T10:13:44+00:00", "dateModified": "2026-01-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-01-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Watch on-demand: Sessions with our compliance experts", "datePublished": "2026-01-29T10:13:44+00:00", "dateModified": "2026-10-09T04:50:36+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/718b336ed96641d687b1b948c7a0ca43/thumbnail-1024-55b73cbe2145c3f3803847ecf4f54ab58887932c9262c227b45aa133ddc876cc.jpg", "description": "Find Recordsure\u2019s on-demand expert sessions on regulatory change, Consumer Duty, AI adoption, motor finance redress, suitability reviews and support for vulnerable customers.", "inLanguage": "en-GB", "articleBody": "Recordsure\u2019s on-demand expert sessions bring together practical discussions on regulatory change, compliance evidence, AI adoption, redress, suitability and vulnerable customer support.\n\nRecordsure\u2019s online expert sessions are gathered in one place for financial services firms that need to keep up with regulatory change, practical compliance expectations and current good practice.\n\nCompliance and AI foundations\n\n\u2018Show me don\u2019t tell me\u2019 compliance explores how financial services firms can evidence compliance while meeting the FCA\u2019s Consumer Duty and outcomes-based supervision. The session is listed for November 2025.\n\nBuilding on solid foundations looks at how wealth management firms can adopt the right tools without introducing unnecessary operational or regulatory risk, and how they can build strong foundations for sustainable AI use in compliance. The session is listed for October 2025.\n\nRedress and suitability\n\nRedress roadmap examines what the FCA\u2019s new scheme means in practice for firms and how firms should prepare for the challenges ahead. The session is listed for October 2025.\n\nRight-first-time suitability considers how wealth managers can improve suitability reviews and move beyond tick-box compliance. The session is listed for October 2025.\n\nMotor finance and vulnerable customers\n\nDriving change - FCA redress and the future of motor finance examines the FCA\u2019s proposed motor finance redress scheme and its potential impact on firms. The session is listed for August 2025.\n\nCritical gaps in support for vulnerable customers explores the practical challenges firms face in identifying and supporting vulnerable customers, and what organisations can do to strengthen their approach. 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The session is listed for October 2025." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#webpage" }, "inLanguage": "en-GB", "headline": "Motor finance and vulnerable customers", "text": "Driving change - FCA redress and the future of motor finance examines the FCA\u2019s proposed motor finance redress scheme and its potential impact on firms. The session is listed for August 2025.\n\nCritical gaps in support for vulnerable customers explores the practical challenges firms face in identifying and supporting vulnerable customers, and what organisations can do to strengthen their approach. The session is listed for May 2025." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/watch-on-demand-sessions-with-our-compliance-experts/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What do the on-demand sessions cover?", "acceptedAnswer": { "@type": "Answer", "text": "It brings together Recordsure online sessions on regulatory change, compliance evidence and practical good practice for financial services firms." } }, { "@type": "Question", "name": "Which themes are included in the sessions?", "acceptedAnswer": { "@type": "Answer", "text": "The sessions cover Consumer Duty evidence, sustainable AI use, FCA redress, suitability reviews, motor finance and support for vulnerable customers." } } ] } ] } ``` ### Consolidation success starts with data: why good data and strong oversight matter more than ever - URL: https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/ - Published: 2026-01-27 - Modified: 2026-10-09 **Topic:** Consolidation oversight Consolidation creates value only when firms understand what they are acquiring and can evidence customer outcomes through integration. Data quality, governance and oversight should sit at the centre of acquisition planning. #### Key points - Acquisition risk is often hidden when target-firm data is incomplete or inconsistent. - Oversight should support strategic decisions, not only satisfy compliance processes. - Integration depends on structured data, aligned processes and early remediation of real risks. - Consumer Duty requires evidence of customer outcomes throughout acquisition, integration and beyond. Consolidation has become a defining feature of growth across regulated sectors such as financial advice and wealth management. For many firms, acquisition is no longer an occasional strategic move, but a repeatable model designed to drive scale, efficiency and long-term value. Yet as the pace of consolidation increases, so too does regulatory scrutiny. [The FCA has been clear that growth through acquisition must not come at the expense of good governance or customer outcomes](https://www.fca.org.uk/publications/multi-firm-reviews/consolidation-financial-advice-and-wealth-management-sector). In that environment, success depends on more than deal volume and valuation multiples. It depends on data quality, oversight and the ability to evidence what is really happening to customers before, during and after integration. These factors determine whether consolidation creates sustainable value or stores up future risk. #### Data as the foundation of acquisition decisions *Without a clear picture of what you’re acquiring, you can’t plan for it, let alone evidence that you’ve successfully integrated it.* Every acquisition starts with a view of the target firm’s risk profile. But that view is only as good as the data that supports it. Incomplete, inconsistent or poorly structured records can mask issues in legacy advice, client segmentation, complaints history or ongoing service obligations. When that happens, risk is often underpriced, and remediation costs emerge long after the deal is done. Strong, reliable data changes the equation. It enables consolidators to carry out meaningful due diligence, identify areas of concern early and make informed decisions about valuation, integration planning and resource allocation. Crucially, it also provides an audit trail, something the regulator increasingly expects to see. The FCA’s recent work on consolidation highlights this point clearly. Firms that approached acquisitions with structured due diligence and strong information frameworks are better placed to manage risk and protect customers. Those without them faced challenges maintaining service standards, business continuity and oversight at scale. #### Oversight as a strategic capability, not a compliance burden *Oversight isn’t just about ticking regulatory expectations – it’s about* building confidence *in your strategic decisions and in the performance of the combined organisation.* As firms grow through acquisition, oversight becomes more complex. Multiple legacy businesses, systems, and operating models must be brought together under a single governance framework. Without clear visibility, boards and senior managers can quickly lose sight of emerging risks. Effective oversight is not about adding layers of process for the sake of it. It’s about having the right information, at the right level of detail, to support confident decision-making. This includes understanding how legacy advice is being reviewed, how integration activity is progressing and whether customers are experiencing disruption or detriment as a result of change. Regulators are increasingly focused on whether firms can demonstrate that oversight is working in practice, not just on paper. That means being able to evidence how risks are identified, monitored and addressed across acquired books and entities, particularly where those risks relate to customer outcomes. #### Integration is where value is won or lost *Integration isn’t a backend task but a strategic investment in capability and resilience – a successful integration is where strategy meets execution.* Integration is often described as the most challenging phase of any acquisition, and for good reason. This is where assumptions made during due diligence meet operational reality. Disparate systems, inconsistent data and differing approaches to record-keeping can slow progress and obscure emerging issues. When data is well structured and consistently captured, integration becomes faster and more controlled. Firms are better able to align processes, assess the quality of advice at scale, and prioritise remediation where it’s genuinely needed. Where data is poor, integration teams are forced into reactive clean-up exercises, diverting time and resources away from strategic objectives. From a customer perspective, this matters enormously. Poor integration can result in service disruptions, delays, and confusion, all of which undermine trust and increase regulatory risk. #### FCA Consumer Duty: Evidencing customer outcomes *In a world where the regulator increasingly demands evidence-based assessments of customer outcomes, having reliable, searchable records isn’t optional; it’s essential.* Perhaps the most significant shift in recent years is the regulator’s emphasis on outcomes rather than intent. Under the FCA’s Consumer Duty, firms must be able to demonstrate that customers receive good outcomes, not just assert that they do. For consolidators, this creates a particular challenge. Customer outcomes must be understood not only at the point of acquisition, but throughout integration and beyond. That requires consistent, reliable evidence drawn from records, reviews and monitoring activity across legacy businesses. This is where strong data and oversight come together. When firms can analyse advice records at scale, track trends and identify issues early, they are far better placed to demonstrate compliance, take proportionate action and show continuous improvement. Evidence becomes an asset rather than a defensive afterthought. TCC, our compliance partner, explains how to achieve FCA compliance and operational resilience at scale in a downloadable guide for consolidators. Get your copy [here](https://insights.tcc.group/consolidation-guide). #### Three takeaways for consolidators The message from regulators, industry guidance and practical experience is clear: consolidation success is built on foundations that extend well beyond deal execution. Data quality, governance and evidence of customer outcomes are not peripheral considerations but critical to long-term resilience. Here is what consolidators need to know: 1. **Data quality is strategic:** It should be central to your acquisition playbook, not an afterthought. 1. **Oversight drives resilience:** Strong governance and monitoring translate into tangible customer and business benefits. 1. **Outcomes first:** Your consolidator metrics should include customer experience, continuity and long-term value, and be backed by solid evidence. Firms that invest early in these capabilities are better equipped to grow with confidence, respond to scrutiny and protect both customers and business value. Consolidation success isn’t accidental. It’s built on disciplined, data-led execution and real oversight capabilities – the very areas where Recordsure helps firms excel. Recordsure helps consolidators strengthen data quality, maintain oversight and evidence customer outcomes with confidence. Book a call #### Supporting sources - [FCA: consolidation in the financial advice and wealth management sector](https://www.fca.org.uk/publications/multi-firm-reviews/consolidation-financial-advice-and-wealth-management-sector) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Consolidation success starts with data: why good data and strong oversight matter more than ever", "item": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/", "name": "Consolidation success starts with data: why good data and strong oversight matter more than ever", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-27T15:07:34+00:00", "dateModified": "2026-02-09T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-02-09" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Consolidation success starts with data: why good data and strong oversight matter more than ever", "datePublished": "2026-01-27T15:07:34+00:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/2bffe249994248c0b16e4547a9dd5155/thumbnail-1024-628ca4e51dc012319369720bd60ba31c128ca18bcaf142746126f2de07c34a42.jpg", "description": "Consolidators in advice and wealth management need reliable data, clear oversight and evidence of customer outcomes to manage acquisition risk and create sustainable value.", "inLanguage": "en-GB", "articleBody": "Consolidation creates value only when firms understand what they are acquiring and can evidence customer outcomes through integration. Data quality, governance and oversight should sit at the centre of acquisition planning.\n\nConsolidation has become a defining feature of growth across regulated sectors such as financial advice and wealth management. For many firms, acquisition is no longer an occasional strategic move, but a repeatable model designed to drive scale, efficiency and long-term value.\n\nYet as the pace of consolidation increases, so too does regulatory scrutiny. The FCA has been clear that growth through acquisition must not come at the expense of good governance or customer outcomes. In that environment, success depends on more than deal volume and valuation multiples. It depends on data quality, oversight and the ability to evidence what is really happening to customers before, during and after integration.\n\nThese factors determine whether consolidation creates sustainable value or stores up future risk.\n\nData as the foundation of acquisition decisions\n\nWithout a clear picture of what you\u2019re acquiring, you can\u2019t plan for it, let alone evidence that you\u2019ve successfully integrated it.\n\nEvery acquisition starts with a view of the target firm\u2019s risk profile. But that view is only as good as the data that supports it. Incomplete, inconsistent or poorly structured records can mask issues in legacy advice, client segmentation, complaints history or ongoing service obligations. When that happens, risk is often underpriced, and remediation costs emerge long after the deal is done.\n\nStrong, reliable data changes the equation. It enables consolidators to carry out meaningful due diligence, identify areas of concern early and make informed decisions about valuation, integration planning and resource allocation. Crucially, it also provides an audit trail, something the regulator increasingly expects to see.\n\nThe FCA\u2019s recent work on consolidation highlights this point clearly. Firms that approached acquisitions with structured due diligence and strong information frameworks are better placed to manage risk and protect customers. Those without them faced challenges maintaining service standards, business continuity and oversight at scale.\n\nOversight as a strategic capability, not a compliance burden\n\nOversight isn\u2019t just about ticking regulatory expectations \u2013 it\u2019s about building confidence in your strategic decisions and in the performance of the combined organisation.\n\nAs firms grow through acquisition, oversight becomes more complex. Multiple legacy businesses, systems, and operating models must be brought together under a single governance framework. Without clear visibility, boards and senior managers can quickly lose sight of emerging risks.\n\nEffective oversight is not about adding layers of process for the sake of it. It\u2019s about having the right information, at the right level of detail, to support confident decision-making. This includes understanding how legacy advice is being reviewed, how integration activity is progressing and whether customers are experiencing disruption or detriment as a result of change.\n\nRegulators are increasingly focused on whether firms can demonstrate that oversight is working in practice, not just on paper. That means being able to evidence how risks are identified, monitored and addressed across acquired books and entities, particularly where those risks relate to customer outcomes.\n\nIntegration is where value is won or lost\n\nIntegration isn\u2019t a backend task but a strategic investment in capability and resilience \u2013 a successful integration is where strategy meets execution.\n\nIntegration is often described as the most challenging phase of any acquisition, and for good reason. This is where assumptions made during due diligence meet operational reality. Disparate systems, inconsistent data and differing approaches to record-keeping can slow progress and obscure emerging issues.\n\nWhen data is well structured and consistently captured, integration becomes faster and more controlled. Firms are better able to align processes, assess the quality of advice at scale, and prioritise remediation where it\u2019s genuinely needed. Where data is poor, integration teams are forced into reactive clean-up exercises, diverting time and resources away from strategic objectives.\n\nFrom a customer perspective, this matters enormously. Poor integration can result in service disruptions, delays, and confusion, all of which undermine trust and increase regulatory risk.\n\nFCA Consumer Duty: Evidencing customer outcomes\n\nIn a world where the regulator increasingly demands evidence-based assessments of customer outcomes, having reliable, searchable records isn\u2019t optional; it\u2019s essential.\n\nPerhaps the most significant shift in recent years is the regulator\u2019s emphasis on outcomes rather than intent. Under the FCA\u2019s Consumer Duty, firms must be able to demonstrate that customers receive good outcomes, not just assert that they do.\n\nFor consolidators, this creates a particular challenge. Customer outcomes must be understood not only at the point of acquisition, but throughout integration and beyond. That requires consistent, reliable evidence drawn from records, reviews and monitoring activity across legacy businesses.\n\nThis is where strong data and oversight come together. When firms can analyse advice records at scale, track trends and identify issues early, they are far better placed to demonstrate compliance, take proportionate action and show continuous improvement. Evidence becomes an asset rather than a defensive afterthought.\n\nTCC, our compliance partner, explains how to achieve FCA compliance and operational resilience at scale in a downloadable guide for consolidators. Get your copy here.\n\nThree takeaways for consolidators\n\nThe message from regulators, industry guidance and practical experience is clear: consolidation success is built on foundations that extend well beyond deal execution. Data quality, governance and evidence of customer outcomes are not peripheral considerations but critical to long-term resilience.\n\nHere is what consolidators need to know:\n\n1. Data quality is strategic: It should be central to your acquisition playbook, not an afterthought.\n\n1. Oversight drives resilience: Strong governance and monitoring translate into tangible customer and business benefits.\n\n1. Outcomes first: Your consolidator metrics should include customer experience, continuity and long-term value, and be backed by solid evidence.\n\nFirms that invest early in these capabilities are better equipped to grow with confidence, respond to scrutiny and protect both customers and business value.\n\nConsolidation success isn\u2019t accidental. It\u2019s built on disciplined, data-led execution and real oversight capabilities \u2013 the very areas where Recordsure helps firms excel.\n\nRecordsure helps consolidators strengthen data quality, maintain oversight and evidence customer outcomes with confidence.\n\nBook a call", "wordCount": 1004, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consolidation oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA: consolidation in the financial advice and wealth management sector", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/consolidation-financial-advice-and-wealth-management-sector" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "text": "Consolidation has become a defining feature of growth across regulated sectors such as financial advice and wealth management. For many firms, acquisition is no longer an occasional strategic move, but a repeatable model designed to drive scale, efficiency and long-term value.\n\nYet as the pace of consolidation increases, so too does regulatory scrutiny. The FCA has been clear that growth through acquisition must not come at the expense of good governance or customer outcomes. In that environment, success depends on more than deal volume and valuation multiples. It depends on data quality, oversight and the ability to evidence what is really happening to customers before, during and after integration.\n\nThese factors determine whether consolidation creates sustainable value or stores up future risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "headline": "Data as the foundation of acquisition decisions", "text": "Without a clear picture of what you\u2019re acquiring, you can\u2019t plan for it, let alone evidence that you\u2019ve successfully integrated it.\n\nEvery acquisition starts with a view of the target firm\u2019s risk profile. But that view is only as good as the data that supports it. Incomplete, inconsistent or poorly structured records can mask issues in legacy advice, client segmentation, complaints history or ongoing service obligations. When that happens, risk is often underpriced, and remediation costs emerge long after the deal is done.\n\nStrong, reliable data changes the equation. It enables consolidators to carry out meaningful due diligence, identify areas of concern early and make informed decisions about valuation, integration planning and resource allocation. Crucially, it also provides an audit trail, something the regulator increasingly expects to see.\n\nThe FCA\u2019s recent work on consolidation highlights this point clearly. Firms that approached acquisitions with structured due diligence and strong information frameworks are better placed to manage risk and protect customers. Those without them faced challenges maintaining service standards, business continuity and oversight at scale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "headline": "Oversight as a strategic capability, not a compliance burden", "text": "Oversight isn\u2019t just about ticking regulatory expectations \u2013 it\u2019s about building confidence in your strategic decisions and in the performance of the combined organisation.\n\nAs firms grow through acquisition, oversight becomes more complex. Multiple legacy businesses, systems, and operating models must be brought together under a single governance framework. Without clear visibility, boards and senior managers can quickly lose sight of emerging risks.\n\nEffective oversight is not about adding layers of process for the sake of it. It\u2019s about having the right information, at the right level of detail, to support confident decision-making. This includes understanding how legacy advice is being reviewed, how integration activity is progressing and whether customers are experiencing disruption or detriment as a result of change.\n\nRegulators are increasingly focused on whether firms can demonstrate that oversight is working in practice, not just on paper. That means being able to evidence how risks are identified, monitored and addressed across acquired books and entities, particularly where those risks relate to customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "headline": "Integration is where value is won or lost", "text": "Integration isn\u2019t a backend task but a strategic investment in capability and resilience \u2013 a successful integration is where strategy meets execution.\n\nIntegration is often described as the most challenging phase of any acquisition, and for good reason. This is where assumptions made during due diligence meet operational reality. Disparate systems, inconsistent data and differing approaches to record-keeping can slow progress and obscure emerging issues.\n\nWhen data is well structured and consistently captured, integration becomes faster and more controlled. Firms are better able to align processes, assess the quality of advice at scale, and prioritise remediation where it\u2019s genuinely needed. Where data is poor, integration teams are forced into reactive clean-up exercises, diverting time and resources away from strategic objectives.\n\nFrom a customer perspective, this matters enormously. Poor integration can result in service disruptions, delays, and confusion, all of which undermine trust and increase regulatory risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "headline": "FCA Consumer Duty: Evidencing customer outcomes", "text": "In a world where the regulator increasingly demands evidence-based assessments of customer outcomes, having reliable, searchable records isn\u2019t optional; it\u2019s essential.\n\nPerhaps the most significant shift in recent years is the regulator\u2019s emphasis on outcomes rather than intent. Under the FCA\u2019s Consumer Duty, firms must be able to demonstrate that customers receive good outcomes, not just assert that they do.\n\nFor consolidators, this creates a particular challenge. Customer outcomes must be understood not only at the point of acquisition, but throughout integration and beyond. That requires consistent, reliable evidence drawn from records, reviews and monitoring activity across legacy businesses.\n\nThis is where strong data and oversight come together. When firms can analyse advice records at scale, track trends and identify issues early, they are far better placed to demonstrate compliance, take proportionate action and show continuous improvement. Evidence becomes an asset rather than a defensive afterthought.\n\nTCC, our compliance partner, explains how to achieve FCA compliance and operational resilience at scale in a downloadable guide for consolidators. Get your copy here." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "headline": "Three takeaways for consolidators", "text": "The message from regulators, industry guidance and practical experience is clear: consolidation success is built on foundations that extend well beyond deal execution. Data quality, governance and evidence of customer outcomes are not peripheral considerations but critical to long-term resilience.\n\nHere is what consolidators need to know:\n\n1. Data quality is strategic: It should be central to your acquisition playbook, not an afterthought.\n\n1. Oversight drives resilience: Strong governance and monitoring translate into tangible customer and business benefits.\n\n1. Outcomes first: Your consolidator metrics should include customer experience, continuity and long-term value, and be backed by solid evidence.\n\nFirms that invest early in these capabilities are better equipped to grow with confidence, respond to scrutiny and protect both customers and business value.\n\nConsolidation success isn\u2019t accidental. It\u2019s built on disciplined, data-led execution and real oversight capabilities \u2013 the very areas where Recordsure helps firms excel.\n\nRecordsure helps consolidators strengthen data quality, maintain oversight and evidence customer outcomes with confidence.\n\nBook a call" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consolidation-success-starts-with-data-why-good-data-and-strong-oversight-matter-more-than-ever/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does consolidation depend on data quality?", "acceptedAnswer": { "@type": "Answer", "text": "Data quality shapes due diligence, valuation, integration planning and the ability to evidence customer outcomes after acquisition." } }, { "@type": "Question", "name": "What risks can poor data hide during an acquisition?", "acceptedAnswer": { "@type": "Answer", "text": "Poor data can mask issues in legacy advice, client segmentation, complaints history and ongoing service obligations." } }, { "@type": "Question", "name": "How does oversight support consolidation?", "acceptedAnswer": { "@type": "Answer", "text": "Oversight gives boards and senior managers visibility of legacy advice reviews, integration progress, customer disruption and emerging risks." } }, { "@type": "Question", "name": "Why is Consumer Duty important for consolidators?", "acceptedAnswer": { "@type": "Answer", "text": "Consumer Duty requires firms to demonstrate good customer outcomes throughout acquisition, integration and beyond." } } ] } ] } ``` ### AB Accounting: AML heat to rise - URL: https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/ - Published: 2026-01-27 - Modified: 2026-10-09 **Topic:** AML supervision A tougher AML and CTF regime is facing accountancy firms as the FCA prepares to take over supervision. Evidence, audit trails and senior management accountability will matter more. #### Key points - The FCA is set to take supervision from 23 professional body supervisors. - The shift brings stricter enforcement, greater scrutiny and heavier compliance demands. - Firms will need stronger governance, documentation and senior management accountability. - Broad statements of compliance will no longer be enough. Accountancy firms should prepare for tougher anti-money laundering and counter-terrorism financing supervision as the FCA is set to take supervision from 23 professional body supervisors. The change will bring stricter enforcement, greater scrutiny and heavier compliance demands. The regulator’s data-led, risk-based approach will increase the depth and frequency of checks, with a strong focus on governance, documentation and senior management accountability. #### Evidence and accountability In a recent piece for [AB.accounting](https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html), Joe Norburn, CEO of TCC Group, said the change is transformational, pushing firms into a far more structured regulatory environment. Broad statements of compliance will no longer be enough, with the FCA expecting clear evidence, audit trails and active senior leadership engagement in managing AML and CTF risk. #### Supporting sources - [AB.accounting](https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AB Accounting: AML heat to rise", "item": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage", "url": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/", "name": "AB Accounting: AML heat to rise", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-27T10:23:14+00:00", "dateModified": "2026-03-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AB Accounting: AML heat to rise", "datePublished": "2026-01-27T10:23:14+00:00", "dateModified": "2026-10-09T04:50:26+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/736da159a39d453bbccb43d2af0640ce/thumbnail-1024-d8eb254a90dd211dece3681035f0e22e6b51d931ace1c26f306c39b635dfd100.jpg", "description": "Tougher AML and CTF supervision will raise the standard of evidence, audit trails and senior management accountability for accountancy firms.", "inLanguage": "en-GB", "articleBody": "A tougher AML and CTF regime is facing accountancy firms as the FCA prepares to take over supervision. Evidence, audit trails and senior management accountability will matter more.\n\nAccountancy firms should prepare for tougher anti-money laundering and counter-terrorism financing supervision as the FCA is set to take supervision from 23 professional body supervisors.\n\nThe change will bring stricter enforcement, greater scrutiny and heavier compliance demands. The regulator\u2019s data-led, risk-based approach will increase the depth and frequency of checks, with a strong focus on governance, documentation and senior management accountability.\n\nEvidence and accountability\n\nIn a recent piece for AB.accounting, Joe Norburn, CEO of TCC Group, said the change is transformational, pushing firms into a far more structured regulatory environment.\n\nBroad statements of compliance will no longer be enough, with the FCA expecting clear evidence, audit trails and active senior leadership engagement in managing AML and CTF risk.", "wordCount": 146, "hasPart": [ { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "AML supervision" } ], "citation": [ { "@type": "CreativeWork", "name": "AB.accounting", "url": "https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage" }, "inLanguage": "en-GB", "text": "Accountancy firms should prepare for tougher anti-money laundering and counter-terrorism financing supervision as the FCA is set to take supervision from 23 professional body supervisors.\n\nThe change will bring stricter enforcement, greater scrutiny and heavier compliance demands. The regulator\u2019s data-led, risk-based approach will increase the depth and frequency of checks, with a strong focus on governance, documentation and senior management accountability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage" }, "inLanguage": "en-GB", "headline": "Evidence and accountability", "text": "In a recent piece for AB.accounting, Joe Norburn, CEO of TCC Group, said the change is transformational, pushing firms into a far more structured regulatory environment.\n\nBroad statements of compliance will no longer be enough, with the FCA expecting clear evidence, audit trails and active senior leadership engagement in managing AML and CTF risk." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/ab-accounting-aml-heat-to-rise/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What change is expected for accountancy firms?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is set to take AML and CTF supervision from 23 professional body supervisors." } }, { "@type": "Question", "name": "What will the FCA expect from firms?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA will expect clear evidence, audit trails and active senior leadership engagement in managing AML and CTF risk." } }, { "@type": "Question", "name": "Why are broad statements of compliance insufficient?", "acceptedAnswer": { "@type": "Answer", "text": "The new environment is more structured, data-led and risk-based, with greater scrutiny of governance and documentation." } } ] } ] } ``` ### Accountancy firms are facing new data-led era of FCA supervision: Are firms ready? - URL: https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/ - Published: 2026-01-26 - Modified: 2026-10-09 **Topic:** AML supervision FCA supervision will raise the standard of AML and CTF evidence for accountancy firms. Firms should strengthen governance, reporting and control evidence before the regime changes. #### Key points - The FCA is poised to replace professional body supervisors for AML and CTF oversight in legal and accounting sectors. - Joe Norburn says firms will need clearer evidence for risk assessment, control testing and governance. - Senior leaders must treat AML risk as a regular governance issue, not a side task. - Firms that adapt can show clients and stakeholders that they take financial crime risk seriously. The anti-money laundering (AML) landscape is about to change dramatically for accountancy firms. With the FCA poised to take over AML and counter-terrorist financing (CTF) supervision from 23 professional body supervisors for the legal and accounting sectors, firms will face a new era of regulatory rigour under the single regulator. Joe Norburn, CEO of TCC Group, shared his views on this “transformational” shift with [AB.accounting](https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html). He explains that firms will no longer be able to rely on broad statements of compliance. Instead, they will need to “provide clearer evidence for risk assessment, control testing and governance”. This means moving beyond tick-box exercises and embracing demonstrable compliance. Norburn warns that AML can no longer be treated as a side task. “Practices will likely need to adopt a more structured approach to governance, with proper reporting, clear escalation routes and senior leaders engaging with AML risk on a regular basis.” Accountability must sit at the top table. #### What does this mean for accountancy firms? - **Greater scrutiny:** firms should expect deeper reviews of AML frameworks and evidence-based assessments. - **Structured governance:** clear reporting lines, escalation processes and board-level engagement will become essential. - **Data-driven compliance:** firms will need systems to monitor, document and demonstrate AML controls. #### Why accountancy firms must act now The FCA’s involvement signals a shift towards higher standards and stronger enforcement. Firms that fail to adapt risk regulatory penalties and reputational damage. Firms that embrace the change can use compliance to demonstrate to clients and stakeholders that they take financial crime risk seriously. #### Is your firm ready for the FCA’s tougher AML regime? Recordsure helps firms build and implement resilient compliance frameworks that meet regulatory expectations and protect reputation. #### Supporting sources - [AB.accounting](https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Accountancy firms are facing new data-led era of FCA supervision: Are firms ready?", "item": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/", "name": "Accountancy firms are facing new data-led era of FCA supervision: Are firms ready?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-26T15:42:24+00:00", "dateModified": "2026-01-26T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-01-26" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Accountancy firms are facing new data-led era of FCA supervision: Are firms ready?", "datePublished": "2026-01-26T15:42:24+00:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/02553a835bc946c8b3fcdc5c59726111/thumbnail-1024-e021a6f224f2572c68f606bcf985daa82f1566a2e5e5313588dd7312a60431cf.jpg", "description": "Accountancy firms face a sharper AML supervision environment as the FCA prepares to take over from professional body supervisors, increasing expectations for evidence, governance and senior accountability.", "inLanguage": "en-GB", "articleBody": "FCA supervision will raise the standard of AML and CTF evidence for accountancy firms. Firms should strengthen governance, reporting and control evidence before the regime changes.\n\nThe anti-money laundering (AML) landscape is about to change dramatically for accountancy firms. With the FCA poised to take over AML and counter-terrorist financing (CTF) supervision from 23 professional body supervisors for the legal and accounting sectors, firms will face a new era of regulatory rigour under the single regulator.\n\nJoe Norburn, CEO of TCC Group, shared his views on this \u201ctransformational\u201d shift with AB.accounting. He explains that firms will no longer be able to rely on broad statements of compliance. Instead, they will need to \u201cprovide clearer evidence for risk assessment, control testing and governance\u201d. This means moving beyond tick-box exercises and embracing demonstrable compliance.\n\nNorburn warns that AML can no longer be treated as a side task. \u201cPractices will likely need to adopt a more structured approach to governance, with proper reporting, clear escalation routes and senior leaders engaging with AML risk on a regular basis.\u201d Accountability must sit at the top table.\n\nWhat does this mean for accountancy firms?\n\n\u2022 Greater scrutiny: firms should expect deeper reviews of AML frameworks and evidence-based assessments.\n\u2022 Structured governance: clear reporting lines, escalation processes and board-level engagement will become essential.\n\u2022 Data-driven compliance: firms will need systems to monitor, document and demonstrate AML controls.\n\nWhy accountancy firms must act now\n\nThe FCA\u2019s involvement signals a shift towards higher standards and stronger enforcement. Firms that fail to adapt risk regulatory penalties and reputational damage. Firms that embrace the change can use compliance to demonstrate to clients and stakeholders that they take financial crime risk seriously.\n\nIs your firm ready for the FCA\u2019s tougher AML regime?\n\nRecordsure helps firms build and implement resilient compliance frameworks that meet regulatory expectations and protect reputation.", "wordCount": 306, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-4" } ], "about": [ { "@type": "Thing", "name": "AML supervision" } ], "citation": [ { "@type": "CreativeWork", "name": "AB.accounting", "url": "https://abmagazine.accaglobal.com/global/articles/2025/dec/practice/aml-heat-to-rise.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "inLanguage": "en-GB", "text": "The anti-money laundering (AML) landscape is about to change dramatically for accountancy firms. With the FCA poised to take over AML and counter-terrorist financing (CTF) supervision from 23 professional body supervisors for the legal and accounting sectors, firms will face a new era of regulatory rigour under the single regulator.\n\nJoe Norburn, CEO of TCC Group, shared his views on this \u201ctransformational\u201d shift with AB.accounting. He explains that firms will no longer be able to rely on broad statements of compliance. Instead, they will need to \u201cprovide clearer evidence for risk assessment, control testing and governance\u201d. This means moving beyond tick-box exercises and embracing demonstrable compliance.\n\nNorburn warns that AML can no longer be treated as a side task. \u201cPractices will likely need to adopt a more structured approach to governance, with proper reporting, clear escalation routes and senior leaders engaging with AML risk on a regular basis.\u201d Accountability must sit at the top table." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "inLanguage": "en-GB", "headline": "What does this mean for accountancy firms?", "text": "\u2022 Greater scrutiny: firms should expect deeper reviews of AML frameworks and evidence-based assessments.\n\u2022 Structured governance: clear reporting lines, escalation processes and board-level engagement will become essential.\n\u2022 Data-driven compliance: firms will need systems to monitor, document and demonstrate AML controls." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "inLanguage": "en-GB", "headline": "Why accountancy firms must act now", "text": "The FCA\u2019s involvement signals a shift towards higher standards and stronger enforcement. Firms that fail to adapt risk regulatory penalties and reputational damage. Firms that embrace the change can use compliance to demonstrate to clients and stakeholders that they take financial crime risk seriously." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "inLanguage": "en-GB", "headline": "Is your firm ready for the FCA\u2019s tougher AML regime?", "text": "Recordsure helps firms build and implement resilient compliance frameworks that meet regulatory expectations and protect reputation." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/accountancy-firms-are-facing-new-data-led-era-of-fca-supervision-are-firms-ready/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What regulatory change is coming for accountancy firms?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is preparing to take over AML and CTF supervision from 23 professional body supervisors for the legal and accounting sectors." } }, { "@type": "Question", "name": "What evidence will accountancy firms need?", "acceptedAnswer": { "@type": "Answer", "text": "They will need clearer evidence for risk assessment, control testing and governance, supported by monitoring, documentation and demonstrable controls." } }, { "@type": "Question", "name": "Why should senior leaders be involved?", "acceptedAnswer": { "@type": "Answer", "text": "Norburn says AML risk should be managed through structured governance, clear reporting, escalation routes and regular engagement by senior leaders." } } ] } ] } ``` ### IT Supply Chain: 2026 predictions evidencing compliance in a data-led regulatory world - URL: https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/ - Published: 2026-01-12 - Modified: 2026-10-09 **Topic:** Evidence readiness Firms should expect more focused regulatory data requests and tougher evidential thresholds. Successful firms will build evidence readiness into everyday processes. #### Key points - The FCA is raising the bar on how compliance must be demonstrated. - Firms should expect focused data requests, tougher thresholds and less patience for audit-trail gaps. - Evidence readiness should be built into everyday processes with AI-driven foresight and human judgement. As the FCA raises the bar on how compliance must be demonstrated, Joe Norburn, CEO of TCC Group ([TCC](https://tcc.group/), [Momenta](https://momentagroup.com/) and [Recordsure](/)), shares what firms need to do now to be ready for 2026 and why moving beyond good intentions to always-on, data-led evidencing. The insight was featured by [IT Supply Chain](https://itsupplychain.com/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/). Firms can expect increasingly focused regulatory data requests, tougher evidential thresholds and far less patience for gaps in audit trails or reliance on manual, sample-based reviews. Organisations still operating on periodic assessments or purely human-led controls are likely to struggle as scrutiny intensifies. Looking ahead to 2026, those that succeed will be the ones that hardwire evidence readiness into everyday processes, blending AI-driven foresight with human judgement to achieve full-population visibility, defensible audit trails and clear proof of positive customer outcomes. #### Supporting sources - [IT Supply Chain](https://itsupplychain.com/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "IT Supply Chain: 2026 predictions evidencing compliance in a data-led regulatory world", "item": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#webpage", "url": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/", "name": "IT Supply Chain: 2026 predictions evidencing compliance in a data-led regulatory world", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-12T12:09:30+00:00", "dateModified": "2026-03-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "IT Supply Chain: 2026 predictions evidencing compliance in a data-led regulatory world", "datePublished": "2026-01-12T12:09:30+00:00", "dateModified": "2026-10-09T04:50:29+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b0413f3032e5477a9bad6617cead56d6/thumbnail-1024-39b4b08dd9c8b7d80b9388942432e4f5a09e6806acd7e28caef61e92ae20f1fb.jpg", "description": "Joe Norburn explains why firms should move beyond good intentions and prepare for tougher evidence requests, defensible audit trails and data-led oversight in 2026.", "inLanguage": "en-GB", "articleBody": "Firms should expect more focused regulatory data requests and tougher evidential thresholds. 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Organisations still operating on periodic assessments or purely human-led controls are likely to struggle as scrutiny intensifies.\n\nLooking ahead to 2026, those that succeed will be the ones that hardwire evidence readiness into everyday processes, blending AI-driven foresight with human judgement to achieve full-population visibility, defensible audit trails and clear proof of positive customer outcomes.", "wordCount": 154, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Evidence readiness" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "IT Supply Chain", "url": "https://itsupplychain.com/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/it-supply-chain-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "text": "As the FCA raises the bar on how compliance must be demonstrated, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), shares what firms need to do now to be ready for 2026 and why moving beyond good intentions to always-on, data-led evidencing. 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Practical insights from TCC Group - URL: https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/ - Published: 2026-01-05 - Modified: 2026-10-09 **Topic:** Advice compliance Advice firms should expect the FCA to ask for clearer, more targeted proof of Consumer Duty outcomes in 2026. Evidence readiness, customer comprehension and pressure on manual compliance models are central themes. #### Key points - The FCA is expected to move from interpreting Consumer Duty to asking for demonstrable proof. - Advice firms should prepare for targeted evidence requests and deeper scrutiny. - Evidence readiness will matter as manual compliance models face greater pressure. Recently featured in [IFA Magazine](https://ifamagazine.com/will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/), TCC Group explores how advice firms will need to adapt their compliance approach in 2026 as the FCA shifts from interpreting Consumer Duty to demanding clear, demonstrable proof. Joe Norburn, CEO of TCC Group ([TCC](https://tcc.group/), [Recordsure](/), [Momenta](https://momentagroup.com/)), highlights that despite ongoing political rhetoric around reducing regulatory burdens, firms should expect more targeted evidence requests, deeper scrutiny and far less tolerance for unsupported assumptions about good customer outcomes. Evidence readiness will become a defining capability in 2026, with higher standards of proof, greater focus on customer comprehension and increasing pressure on manual compliance models. #### Supporting sources - [IFA Magazine](https://ifamagazine.com/will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "IFA: Will advice firms need to adapt compliance requirements in 2026? 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Practical insights from TCC Group", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2026-01-05T10:51:09+00:00", "dateModified": "2026-03-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "IFA: Will advice firms need to adapt compliance requirements in 2026? Practical insights from TCC Group", "datePublished": "2026-01-05T10:51:09+00:00", "dateModified": "2026-10-09T04:50:28+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1220fd36795f42978c5a839f02e36304/thumbnail-1024-d11e500326199fae48f4eec5db6d13ff2447e37c326bfc9157699abb0b8e74f3.jpg", "description": "TCC Group explains why advice firms should prepare for more targeted FCA evidence requests in 2026, with clearer proof of customer outcomes and stronger evidence readiness.", "inLanguage": "en-GB", "articleBody": "Advice firms should expect the FCA to ask for clearer, more targeted proof of Consumer Duty outcomes in 2026. Evidence readiness, customer comprehension and pressure on manual compliance models are central themes.\n\nRecently featured in IFA Magazine, TCC Group explores how advice firms will need to adapt their compliance approach in 2026 as the FCA shifts from interpreting Consumer Duty to demanding clear, demonstrable proof. Joe Norburn, CEO of TCC Group (TCC, Recordsure, Momenta), highlights that despite ongoing political rhetoric around reducing regulatory burdens, firms should expect more targeted evidence requests, deeper scrutiny and far less tolerance for unsupported assumptions about good customer outcomes.\n\nEvidence readiness will become a defining capability in 2026, with higher standards of proof, greater focus on customer comprehension and increasing pressure on manual compliance models.", "wordCount": 130, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "IFA Magazine", "url": "https://ifamagazine.com/will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#webpage" }, "inLanguage": "en-GB", "text": "Recently featured in IFA Magazine, TCC Group explores how advice firms will need to adapt their compliance approach in 2026 as the FCA shifts from interpreting Consumer Duty to demanding clear, demonstrable proof. Joe Norburn, CEO of TCC Group (TCC, Recordsure, Momenta), highlights that despite ongoing political rhetoric around reducing regulatory burdens, firms should expect more targeted evidence requests, deeper scrutiny and far less tolerance for unsupported assumptions about good customer outcomes.\n\nEvidence readiness will become a defining capability in 2026, with higher standards of proof, greater focus on customer comprehension and increasing pressure on manual compliance models." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/ifa-will-advice-firms-need-to-adapt-compliance-requirements-in-2026-practical-insights-from-tcc-group/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What compliance change should advice firms prepare for in 2026?", "acceptedAnswer": { "@type": "Answer", "text": "They should prepare for the FCA to ask for clearer, more targeted proof that they are delivering good customer outcomes." } }, { "@type": "Question", "name": "Why is evidence readiness important?", "acceptedAnswer": { "@type": "Answer", "text": "Evidence readiness will matter because standards of proof, customer comprehension expectations and scrutiny of manual compliance models are increasing." } } ] } ] } ``` ### Top ten regulatory priorities for financial services firms in 2026 - URL: https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/ - Published: 2025-12-18 - Modified: 2026-10-09 **Topic:** Regulatory priorities Financial services firms should prioritise Consumer Duty monitoring, responsible innovation, redress readiness, financial crime controls and ongoing advice evidence in 2026. #### Key points - The FCA’s 2025–2030 priorities balance growth with firms doing the right thing. - Consumer Duty, technology, financial crime and operational resilience remain central regulatory themes. - Targeted support, insurance simplification, ESG and ongoing advice create both opportunity and risk. - Firms need evidence, governance and outcome monitoring to meet expectations. As financial services firms consider what lies ahead for them in 2026, the FCA’s priorities for 2025–2030 continue to emphasise the delicate balance between supporting growth and ensuring firms “do the right thing.” The FCA’s [five-year strategy](https://www.fca.org.uk/news/press-releases/fca-launches-5-year-strategy-support-growth-and-improve-lives), set out in March 2025, is anchored in four areas: being a smarter, more efficient regulator; supporting growth and innovation; helping customers navigate their financial lives; and combating financial crime. Regulatory efficiency and proportionality remain front and centre: firms that seek to do the right thing can expect streamlined reporting, simplified authorisation and reduced data requests – with 36,000 firms already benefiting from lighter reporting obligations. In [a recent letter to Prime Minister Keir Starmer](https://www.fca.org.uk/publication/correspondence/growth-approach-pm-letter-december-2025.pdf), FCA CEO Nikhil Rathi highlighted the regulator’s focus on enabling sustainable financial growth, supporting digital innovation and promoting financial inclusion – all while protecting consumers and safeguarding market integrity. Against this backdrop, financial services firms are operating under a more pro-growth regulatory approach, with reduced reporting burdens, fewer formal enforcement actions but continued supervisory scrutiny. The FCA is placing greater reliance on data requests as a tool for supervision and asking firms to evidence how they are delivering good outcomes for customers, fighting financial crime and demonstrating effective governance and risk management whilst continuing to deliver value for customers. We’ve grouped our top ten priorities into four key topics: current themes, emerging opportunities, ongoing issues and areas to watch. Together, these highlight where firms should focus in 2026 to meet FCA expectations, manage risk effectively and deliver lasting value for customers. Current themes 1. Embedding and monitoring the Consumer Duty #### What’s changing The FCA continues to [prioritise embedding the Consumer Duty across all sectors](https://www.fca.org.uk/publications/corporate-documents/consumer-duty-focus-areas#:~:text=Corporate%20documents%20Published:%2030/09,and%20our%20annual%20work%20programme), using it as the primary mechanism to drive good outcomes rather than introducing prescriptive rules. The regulator’s plan for multi-firm reviews will examine how the Duty is being embedded with a focus on outcome monitoring, product design, customer journey mapping and consumer understanding. For example, in the consumer investment sector, the FCA is conducting a market-wide review of the implementation of the Duty in model portfolio services. The treatment of vulnerable customers also remains of regulatory importance. As part of a streamlined complaints reporting process, the FCA now requires firms to report complaints involving vulnerable customers and is working with the Information Commissioner’s Office (ICO) to address the challenges of supporting such customers while complying with data protection requirements. #### Why it matters now Embedding the Consumer Duty well is crucial for protecting customers, improving engagement and ensuring delivery of fair value – particularly for vulnerable clients. Regulatory scrutiny is intensifying, with the FCA expecting firms to evidence how they assess and monitor outcomes, design products responsibly and communicate effectively with consumers. Despite a reduced number of S166s the FCA is increasing its use of information requests as a supervisory tool. Consistent alignment is key to gaining a competitive advantage of fostering trust and transparency. #### Where firms typically struggle Firms can often find it challenging to translate high-level Consumer Duty requirements into operational practice. Common issues include inconsistent monitoring of customer outcomes, fragmented ownership of product governance, gaps in customer journey design and poor identification of vulnerable clients. These gaps can lead to compliance risks and missed opportunities to improve customer outcomes. #### How TCC and Recordsure can help TCC’s experts work with firms to embed the Consumer Duty’s principles into their governance, culture and business model, which, in turn, helps create a clear, auditable framework for monitoring customer outcomes. Recordsure’s AI-led technology complements this by capturing and evidencing client interactions, enabling firms to demonstrate regulatory compliance efficiently and confidently, whilst keeping customer outcomes at the heart of the firm’s operations. 1. Tech, data and innovation #### What’s changing The FCA is pursuing [a five-year strategy](https://www.fca.org.uk/news/press-releases/fca-launches-5-year-strategy-support-growth-and-improve-lives) focused on supporting growth, improving consumer outcomes and becoming a “smarter regulator” through digitalisation, streamlined authorisations and more efficient supervision. As digital transformation accelerates, firms are increasingly embedding new technologies such as AI, data analytics and digital identity solutions. Regulatory expectations are evolving to ensure these innovations are deployed safely, whilst the FCA invests in its own technology, people and systems. #### Why it matters now Firms are expected to ensure that any AI and data-driven tools they use are explainable, unbiased and aligned with customer outcomes, whilst maintaining effective oversight of vendors and models. Responsible use of AI is fast becoming a priority – firms and technology vendors should be deploying the highest AI principles to ensure safety, security, ethical responsibility and accountability. The FCA’s focus on smarter regulation means firms that don’t manage technology and data risks effectively may face increased scrutiny and enforcement action. #### Where firms typically struggle Many firms struggle with embedding emerging technology safely and at scale. Common challenges include implementing effective data governance, monitoring risk and maintaining compliance with data protection requirements. These gaps can increase operational, reputational and regulatory risk. #### How TCC and Recordsure can help TCC and Recordsure combine smart people and innovative technology to help firms navigate regulatory complexity, strengthen compliance and unlock lasting value. TCC embeds governance and operational frameworks for safe innovation, while Recordsure’s AI captures and analyses client interactions at scale, helping firms monitor outcomes, manage risk and demonstrate compliance. 1. Motor finance redress scheme #### What’s changing The FCA is progressing its work on [motor finance following concerns about historical discretionary commission arrangements](https://www.fca.org.uk/firms/information-firms-motor-finance-complaints) (DCAs) [and has paused handling certain motor finance complaints while the regulatory and legal position is clarified](https://www.fca.org.uk/news/statements/pause-motor-finance-complaints-handling-lift-31-may-2026). Firms are expected to retain relevant records, respond to FCA data requests and prepare for an industry-wide redress scheme. The regulator has made it clear that operational readiness, data integrity and governance will be critical when the scheme is introduced. #### Why it matters now Motor finance redress presents significant financial, operational and reputational risk. Firms that delay preparation risk being unable to respond quickly and effectively to large volumes of complaints, regulatory information requests and potential redress activity. The FCA’s intervention in complaints handling underscores its expectation that firms act proactively to protect customer outcomes and maintain trust, even while final decisions are pending. #### Where firms typically struggle Many firms face challenges with fragmented or incomplete historical data, inconsistent documentation of commission arrangements and limited visibility over past customer journeys. Scaling complaints handling, responding to regulatory data requests and evidencing fair treatment can strain existing operations. Weak governance, unclear ownership and insufficient management information further increase execution and regulatory risk. #### How TCC and Recordsure can help At TCC Group, together with our [Momenta](https://momentagroup.com/) brand, we combine deep expertise with years of experience delivering innovative solutions that help firms execute proposed redress schemes efficiently and at pace. We support clients in preparing and validating existing plans and go further by partnering to build sound processes and solutions that ensure long-term compliance and resilience. Emerging opportunities 4. Targted support #### What’s changing Following [a joint review with the government and two consultation papers](https://www.fca.org.uk/news/press-releases/millions-extra-help-investments-pensions-decisions), the FCA has published its policy statement and near-final rules for the new targeted support regime. The framework aims to bridge the gap between guidance and advice for pensions and retail investments, addressing the needs of an estimated 7 million UK adults with significant cash savings who may be missing out on investment opportunities. Firms can apply for FCA permissions to deliver targeted support from March 2026, ahead of the regime’s planned implementation on the 6th of April 2026, subject to legislation. Some firms are already engaging with the FCA’s pre-application support service. #### Why it matters now With only a small fraction of consumers accessing regulated financial advice, many savers and investors remain unsupported at crucial decision points. The new targeted support regime presents a potential area for growth for firms – particularly product providers and those new to the market – and reflects the political agenda to encourage investment. It aims to enable customers to make informed decisions, a core part of the cross-cutting rules,with guidance on how to receive better returns on their cash savings, as well as supporting those who are not saving enough for retirement. 1. Simplification of insurance rules #### What’s changing The FCA has finalised its [simplified insurance rules and plans further review](https://www.fca.org.uk/news/press-releases/fca-simplifies-insurance-rules-and-plans-further-reviews-requirements) to give insurance firms more “flexibility and responsibility”.[Key changes](https://www.fca.org.uk/publications/policy-statements/ps25-21-simplifying-insurance-rules) include giving firms the flexibility to set product review frequency, moving from annual reviews per product to risk-based reviews, and removing the 15-hour continuing professional development (CPD) requirement for staff. The regulator also intends to remove three further insurance data returns, reassess eligibility and disclosure requirements for packaged bank accounts, streamline collective investment rules and remove handbook references that are no longer needed under the Consumer Duty. #### Why it matters now Simplified rules will enable firms to reduce compliance costs and focus resources where they are most needed. By reducing regulatory burdens, insurers can strengthen their competitive position. 1. Governance – non-financial misconduct #### What’s changing The FCA has long warned that a firm’s handling of non-financial misconduct is a key indicator of its culture. It has now issued much-anticipated guidance on how firms should interpret non-financial misconduct within its Conduct Rules and within firms required annual assessment of an employee’s Fitness and Propriety (F&P). The guidance clarifies that behaviours such as bullying and harassment can constitute breaches of fundamental principles. Starting in September 2026, it will also introduce minimum standards of behaviour for employees across financial services and outline the factors that should be considered when assessing their F&P. #### Why it matters now Non-financial misconduct is an increasingly high-profile area under regulatory scrutiny, and poorly managed misconduct is a clear sign of weak governance. The regulator’s message is unmistakable: how a firm handles non-financial misconduct reflects its culture. Poor culture harms not just consumers and employees but also markets and a firm’s bottom line. The FCA is now actively prioritising this issue through its supervision of firms and senior managers, so taking a proactive approach to address it will give firms a clear advantage. Ongoing issues 7. Financial crime and market integrity #### What’s changing The FCA continues to prioritise the detection and prevention of financial crime, including money laundering, fraud and market abuse. [Its 2025–30 strategy](https://www.fca.org.uk/news/press-releases/fca-launches-5-year-strategy-support-growth-and-improve-lives) highlights the increasing complexity of digital payments, fintech innovation and emerging financial crime threats, emphasising that firms must implement adaptable and risk-based controls. The recent [£44m fine against Nationwide](https://www.fca.org.uk/news/press-releases/fca-fines-nationwide-44m-failings-financial-crime-controls) for failures in anti-financial crime systems underscores the regulator’s focus on firms’ ability to maintain accurate know-your-customer information, monitor transactions effectively and respond promptly to emerging risks. Firms are expected to strengthen oversight, embed accountability and proactively identify high-risk customers and activities. #### Why it matters now Financial crime risks can expose firms to regulatory breaches, significant financial losses, reputational damage and the erosion of consumer trust. With rapid growth in digital channels and payment methods, the FCA expects firms to move beyond static compliance checklists to implement proactive, adaptable and fully integrated financial crime controls. #### Where firms typically struggle Common challenges include embedding effective financial crime frameworks across the business, maintaining clear accountability, conducting comprehensive risk assessments, monitoring third parties and appointed representatives, and keeping pace with evolving threats. Financial crime is no longer a static threat – with the increasing presence of fintech products, instant payments and AI-driven fraud, firms need to rethink their fraud prevention strategy to protect customers in real-time digital world. Firms also often struggle to capture complete evidence and provide senior management with sufficient oversight for informed decision-making and regulatory reporting. #### How TCC and Recordsure can help TCC’s team of practitioners and ex-regulators can help firms design, implement and embed compliance frameworks that ensure risk assessments, monitoring processes and senior management oversight meet the FCA’s expectations. When combined with Recordsure’s AI, which captures and analyses interactions, firms gain a clear audit trail, enhanced monitoring capabilities, and the confidence to manage compliance risks effectively. 1. Data privacy and cyber risk integration #### What’s changing The FCA has signalled that [operational resilience must go beyond compliance frameworks](https://www.fca.org.uk/news/blogs/operational-resilience-beyond-regulatory-raincoats) to address how firms actually protect client data and respond to cyber threats. Its focus is expanding to include data privacy, cybersecurity controls, incident reporting and the resilience of third-party and vendor ecosystems. As firms become more digital and interconnected, the regulator expects closer integration among operational resilience, cyber security and data governance – rather than treating them as separate disciplines. #### Why it matters now Cyber incidents, data breaches and third-party failures can cause immediate and widespread harm to customers and markets, as seen in numerous high-profile incidents in 2025. The FCA increasingly expects firms to demonstrate that data protection and cyber risk are embedded in their resilience planning with clear escalation, testing and response mechanisms in place. Areas to watch 9. ESG compliance #### What’s changing The FCA is increasing its focus on ESG and sustainable finance, emphasising accurate disclosures, sound governance and strong controls. [The December 2025 Regulatory Initiatives Grid](https://www.fca.org.uk/publication/corporate/regulatory-initiatives-grid-dec-2025.pdf) highlights key upcoming measures, including Sustainability Disclosure Requirements (SDRs), oversight of ESG rating providers and alignment with the UK Sustainability Reporting Standards. Firms are expected to ensure ESG considerations are fully embedded in product design, distribution and ongoing oversight, supported by reliable data and transparent governance. #### Why it matters now As demand for sustainable products grows, the FCA is signalling that claims must be transparent, substantiated and aligned with emerging regulatory standards. Firms that fail to meet these expectations risk undermining consumer trust, attracting regulatory scrutiny and harming market integrity. The next two years will see implementation milestones for SDR, ESG rating regulations and sustainability reporting, making proactive compliance essential. 1. Ongoing advice services #### What's changing The FCA is reviewing how [ongoing financial advice](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) is delivered, including a potential removal of the annual suitability requirement for advice clients. This was signalled by the FCA when it published the findings of its review of ongoing financial advice services earlier this year. We are expecting the FCA to clarify its position in H1 2026. #### Why it matters now With changes to the annual suitability requirement under consideration, firms must ensure that they can continue to demonstrate that clients receive timely, appropriate advice. Clear evidence of ongoing oversight and engagement is critical to protecting clients, managing regulatory expectations and maintaining trust. Failure to meet these standards could lead to customer harm, complaints or regulatory scrutiny. #### Where firms typically struggle Firms often struggle to consistently demonstrate ongoing suitability, particularly when record-keeping and monitoring processes are fragmented. Challenges include tracking changes in client circumstances, aligning advice with evolving client objectives and ensuring that communications and recommendations are documented effectively. #### How TCC and Recordsure can help TCC helps firms embed governance, workflows and monitoring processes to ensure that ongoing advice is consistently suitable, client-focused and fully auditable. Recordsure’s AI captures client interactions and key decisions, creating a clear, evidence-based record that demonstrates regulatory compliance and supports firms in delivering high-quality, transparent advice. Conclusion As we move into 2026, financial services firms face a landscape of rapid change, an evolving political agenda, greater responsibility on firms when it comes to active risk management and rising customer expectations. Compliance is not a once-and-done exercise, and it’s vital to continue to embed the Consumer Duty throughout the culture of the business – from product design and distribution to communications and support for vulnerable clients. At the same time, firms adopting AI, data analytics or third-party technology need to ensure that innovation is underpinned by strong governance, effective vendor oversight, and effective model and data controls. Operational resilience and a healthy risk culture remain critical, encompassing cyber security, third-party dependencies, business continuity and clear senior management accountability. AML, fraud, and financial crime controls remain a core obligation, and firms must balance innovation with these fundamental responsibilities. With regulatory change reducing, the FCA signals opportunities for simplification, but the pressure on firms to evidence good outcomes through the use of data is not going away. Firms that are organised, transparent and proactive will be best placed to benefit from more predictable and proportionate supervision. Independent expertise Partnering with independent experts such as [TCC](https://tcc.group/), alongside utilising Recordsure’s AI technology, can help firms navigate this complex landscape. TCC’s team of experts bring deep regulatory expertise and practical experience to strengthen business models, governance frameworks and operational compliance processes. While using Recordsure’s purpose-built AI to capture and analyse client and employee interactions at scale, enables firms to monitor outcomes, demonstrate compliance and provide clear oversight. Together, we empower firms to act confidently, innovate responsibly and deliver lasting value to customers while meeting financial services regulatory expectations. Wherever you are on your regulatory journey, we can help you work through the challenges, take ownership of responsibilities and reflect inwardly on what these obligations mean for your firm – turning compliance into a framework for stronger, more accountable business practices. #### Supporting sources - [FCA five-year strategy to support growth and improve lives](https://www.fca.org.uk/news/press-releases/fca-launches-5-year-strategy-support-growth-and-improve-lives) - [FCA growth approach letter to the Prime Minister](https://www.fca.org.uk/publication/correspondence/growth-approach-pm-letter-december-2025.pdf) - [FCA Consumer Duty focus areas](https://www.fca.org.uk/publications/corporate-documents/consumer-duty-focus-areas#:~:text=Corporate%20documents%20Published:%2030/09,and%20our%20annual%20work%20programme) - [FCA motor finance complaints information for firms](https://www.fca.org.uk/firms/information-firms-motor-finance-complaints) - [FCA statement on motor finance complaints pause](https://www.fca.org.uk/news/statements/pause-motor-finance-complaints-handling-lift-31-may-2026) - [FCA targeted support announcement](https://www.fca.org.uk/news/press-releases/millions-extra-help-investments-pensions-decisions) - [FCA insurance simplification announcement](https://www.fca.org.uk/news/press-releases/fca-simplifies-insurance-rules-and-plans-further-reviews-requirements) - [FCA policy statement PS25/21 on simplifying insurance rules](https://www.fca.org.uk/publications/policy-statements/ps25-21-simplifying-insurance-rules) - [FCA Nationwide fine announcement](https://www.fca.org.uk/news/press-releases/fca-fines-nationwide-44m-failings-financial-crime-controls) - [FCA operational resilience blog](https://www.fca.org.uk/news/blogs/operational-resilience-beyond-regulatory-raincoats) - [December 2025 Regulatory Initiatives Grid](https://www.fca.org.uk/publication/corporate/regulatory-initiatives-grid-dec-2025.pdf) - [FCA review of ongoing financial advice services](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Top ten regulatory priorities for financial services firms in 2026", "item": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/", "name": "Top ten regulatory priorities for financial services firms in 2026", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-12-18T11:27:57+00:00", "dateModified": "2025-12-18T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-12-18" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Top ten regulatory priorities for financial services firms in 2026", "datePublished": "2025-12-18T11:27:57+00:00", "dateModified": "2026-10-09T04:50:03+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/705a9efc70bd43feb6b0c6e7a0212d36/thumbnail-1024-573b68fc54b25288c764440c14388f8beab29102fd35f1688406dfcc57e9c6ec.jpg", "description": "Financial services firms should prioritise Consumer Duty monitoring, responsible innovation, redress readiness, financial crime controls and ongoing advice evidence in 2026.", "inLanguage": "en-GB", "articleBody": "Financial services firms should prioritise Consumer Duty monitoring, responsible innovation, redress readiness, financial crime controls and ongoing advice evidence in 2026.\n\nAs financial services firms consider what lies ahead for them in 2026, the FCA\u2019s priorities for 2025\u20132030 continue to emphasise the delicate balance between supporting growth and ensuring firms \u201cdo the right thing.\u201d\n\nThe FCA\u2019s five-year strategy, set out in March 2025, is anchored in four areas: being a smarter, more efficient regulator; supporting growth and innovation; helping customers navigate their financial lives; and combating financial crime. Regulatory efficiency and proportionality remain front and centre: firms that seek to do the right thing can expect streamlined reporting, simplified authorisation and reduced data requests \u2013 with 36,000 firms already benefiting from lighter reporting obligations.\n\nIn a recent letter to Prime Minister Keir Starmer, FCA CEO Nikhil Rathi highlighted the regulator\u2019s focus on enabling sustainable financial growth, supporting digital innovation and promoting financial inclusion \u2013 all while protecting consumers and safeguarding market integrity.\n\nAgainst this backdrop, financial services firms are operating under a more pro-growth regulatory approach, with reduced reporting burdens, fewer formal enforcement actions but continued supervisory scrutiny. The FCA is placing greater reliance on data requests as a tool for supervision and asking firms to evidence how they are delivering good outcomes for customers, fighting financial crime and demonstrating effective governance and risk management whilst continuing to deliver value for customers.\n\nWe\u2019ve grouped our top ten priorities into four key topics: current themes, emerging opportunities, ongoing issues and areas to watch. Together, these highlight where firms should focus in 2026 to meet FCA expectations, manage risk effectively and deliver lasting value for customers.\n\nCurrent themes 1. Embedding and monitoring the Consumer Duty\n\nWhat\u2019s changing\n\nThe FCA continues to prioritise embedding the Consumer Duty across all sectors, using it as the primary mechanism to drive good outcomes rather than introducing prescriptive rules. The regulator\u2019s plan for multi-firm reviews will examine how the Duty is being embedded with a focus on outcome monitoring, product design, customer journey mapping and consumer understanding. For example, in the consumer investment sector, the FCA is conducting a market-wide review of the implementation of the Duty in model portfolio services.\n\nThe treatment of vulnerable customers also remains of regulatory importance. As part of a streamlined complaints reporting process, the FCA now requires firms to report complaints involving vulnerable customers and is working with the Information Commissioner\u2019s Office (ICO) to address the challenges of supporting such customers while complying with data protection requirements.\n\nWhy it matters now\n\nEmbedding the Consumer Duty well is crucial for protecting customers, improving engagement and ensuring delivery of fair value \u2013 particularly for vulnerable clients. Regulatory scrutiny is intensifying, with the FCA expecting firms to evidence how they assess and monitor outcomes, design products responsibly and communicate effectively with consumers. Despite a reduced number of S166s the FCA is increasing its use of information requests as a supervisory tool. Consistent alignment is key to gaining a competitive advantage of fostering trust and transparency.\n\nWhere firms typically struggle\n\nFirms can often find it challenging to translate high-level Consumer Duty requirements into operational practice. Common issues include inconsistent monitoring of customer outcomes, fragmented ownership of product governance, gaps in customer journey design and poor identification of vulnerable clients. These gaps can lead to compliance risks and missed opportunities to improve customer outcomes.\n\nHow TCC and Recordsure can help\n\nTCC\u2019s experts work with firms to embed the Consumer Duty\u2019s principles into their governance, culture and business model, which, in turn, helps create a clear, auditable framework for monitoring customer outcomes. Recordsure\u2019s AI-led technology complements this by capturing and evidencing client interactions, enabling firms to demonstrate regulatory compliance efficiently and confidently, whilst keeping customer outcomes at the heart of the firm\u2019s operations.\n\n1. Tech, data and innovation\n\nWhat\u2019s changing\n\nThe FCA is pursuing a five-year strategy focused on supporting growth, improving consumer outcomes and becoming a \u201csmarter regulator\u201d through digitalisation, streamlined authorisations and more efficient supervision. As digital transformation accelerates, firms are increasingly embedding new technologies such as AI, data analytics and digital identity solutions. Regulatory expectations are evolving to ensure these innovations are deployed safely, whilst the FCA invests in its own technology, people and systems.\n\nWhy it matters now\n\nFirms are expected to ensure that any AI and data-driven tools they use are explainable, unbiased and aligned with customer outcomes, whilst maintaining effective oversight of vendors and models. Responsible use of AI is fast becoming a priority \u2013 firms and technology vendors should be deploying the highest AI principles to ensure safety, security, ethical responsibility and accountability. The FCA\u2019s focus on smarter regulation means firms that don\u2019t manage technology and data risks effectively may face increased scrutiny and enforcement action.\n\nWhere firms typically struggle\n\nMany firms struggle with embedding emerging technology safely and at scale. Common challenges include implementing effective data governance, monitoring risk and maintaining compliance with data protection requirements. These gaps can increase operational, reputational and regulatory risk.\n\nHow TCC and Recordsure can help\n\nTCC and Recordsure combine smart people and innovative technology to help firms navigate regulatory complexity, strengthen compliance and unlock lasting value. TCC embeds governance and operational frameworks for safe innovation, while Recordsure\u2019s AI captures and analyses client interactions at scale, helping firms monitor outcomes, manage risk and demonstrate compliance.\n\n1. Motor finance redress scheme\n\nWhat\u2019s changing\n\nThe FCA is progressing its work on motor finance following concerns about historical discretionary commission arrangements (DCAs) and has paused handling certain motor finance complaints while the regulatory and legal position is clarified. Firms are expected to retain relevant records, respond to FCA data requests and prepare for an industry-wide redress scheme. The regulator has made it clear that operational readiness, data integrity and governance will be critical when the scheme is introduced.\n\nWhy it matters now\n\nMotor finance redress presents significant financial, operational and reputational risk. Firms that delay preparation risk being unable to respond quickly and effectively to large volumes of complaints, regulatory information requests and potential redress activity. The FCA\u2019s intervention in complaints handling underscores its expectation that firms act proactively to protect customer outcomes and maintain trust, even while final decisions are pending.\n\nWhere firms typically struggle\n\nMany firms face challenges with fragmented or incomplete historical data, inconsistent documentation of commission arrangements and limited visibility over past customer journeys. Scaling complaints handling, responding to regulatory data requests and evidencing fair treatment can strain existing operations. Weak governance, unclear ownership and insufficient management information further increase execution and regulatory risk.\n\nHow TCC and Recordsure can help\n\nAt TCC Group, together with our Momenta brand, we combine deep expertise with years of experience delivering innovative solutions that help firms execute proposed redress schemes efficiently and at pace. We support clients in preparing and validating existing plans and go further by partnering to build sound processes and solutions that ensure long-term compliance and resilience.\n\nEmerging opportunities 4. Targted support\n\nWhat\u2019s changing\n\nFollowing a joint review with the government and two consultation papers, the FCA has published its policy statement and near-final rules for the new targeted support regime. The framework aims to bridge the gap between guidance and advice for pensions and retail investments, addressing the needs of an estimated 7 million UK adults with significant cash savings who may be missing out on investment opportunities. Firms can apply for FCA permissions to deliver targeted support from March 2026, ahead of the regime\u2019s planned implementation on the 6th of April 2026, subject to legislation. Some firms are already engaging with the FCA\u2019s pre-application support service.\n\nWhy it matters now\n\nWith only a small fraction of consumers accessing regulated financial advice, many savers and investors remain unsupported at crucial decision points. The new targeted support regime presents a potential area for growth for firms \u2013 particularly product providers and those new to the market \u2013 and reflects the political agenda to encourage investment. It aims to enable customers to make informed decisions, a core part of the cross-cutting rules,with guidance on how to receive better returns on their cash savings, as well as supporting those who are not saving enough for retirement.\n\n1. Simplification of insurance rules\n\nWhat\u2019s changing\n\nThe FCA has finalised its simplified insurance rules and plans further review to give insurance firms more \u201cflexibility and responsibility\u201d.Key changes include giving firms the flexibility to set product review frequency, moving from annual reviews per product to risk-based reviews, and removing the 15-hour continuing professional development (CPD) requirement for staff. The regulator also intends to remove three further insurance data returns, reassess eligibility and disclosure requirements for packaged bank accounts, streamline collective investment rules and remove handbook references that are no longer needed under the Consumer Duty.\n\nWhy it matters now\n\nSimplified rules will enable firms to reduce compliance costs and focus resources where they are most needed. By reducing regulatory burdens, insurers can strengthen their competitive position.\n\n1. Governance \u2013 non-financial misconduct\n\nWhat\u2019s changing\n\nThe FCA has long warned that a firm\u2019s handling of non-financial misconduct is a key indicator of its culture. It has now issued much-anticipated guidance on how firms should interpret non-financial misconduct within its Conduct Rules and within firms required annual assessment of an employee\u2019s Fitness and Propriety (F&P). The guidance clarifies that behaviours such as bullying and harassment can constitute breaches of fundamental principles. Starting in September 2026, it will also introduce minimum standards of behaviour for employees across financial services and outline the factors that should be considered when assessing their F&P.\n\nWhy it matters now\n\nNon-financial misconduct is an increasingly high-profile area under regulatory scrutiny, and poorly managed misconduct is a clear sign of weak governance.\n\nThe regulator\u2019s message is unmistakable: how a firm handles non-financial misconduct reflects its culture. Poor culture harms not just consumers and employees but also markets and a firm\u2019s bottom line. The FCA is now actively prioritising this issue through its supervision of firms and senior managers, so taking a proactive approach to address it will give firms a clear advantage.\n\nOngoing issues 7. Financial crime and market integrity\n\nWhat\u2019s changing\n\nThe FCA continues to prioritise the detection and prevention of financial crime, including money laundering, fraud and market abuse. Its 2025\u201330 strategy highlights the increasing complexity of digital payments, fintech innovation and emerging financial crime threats, emphasising that firms must implement adaptable and risk-based controls. The recent \u00a344m fine against Nationwide for failures in anti-financial crime systems underscores the regulator\u2019s focus on firms\u2019 ability to maintain accurate know-your-customer information, monitor transactions effectively and respond promptly to emerging risks. Firms are expected to strengthen oversight, embed accountability and proactively identify high-risk customers and activities.\n\nWhy it matters now\n\nFinancial crime risks can expose firms to regulatory breaches, significant financial losses, reputational damage and the erosion of consumer trust. With rapid growth in digital channels and payment methods, the FCA expects firms to move beyond static compliance checklists to implement proactive, adaptable and fully integrated financial crime controls.\n\nWhere firms typically struggle\n\nCommon challenges include embedding effective financial crime frameworks across the business, maintaining clear accountability, conducting comprehensive risk assessments, monitoring third parties and appointed representatives, and keeping pace with evolving threats. Financial crime is no longer a static threat \u2013 with the increasing presence of fintech products, instant payments and AI-driven fraud, firms need to rethink their fraud prevention strategy to protect customers in real-time digital world. Firms also often struggle to capture complete evidence and provide senior management with sufficient oversight for informed decision-making and regulatory reporting.\n\nHow TCC and Recordsure can help\n\nTCC\u2019s team of practitioners and ex-regulators can help firms design, implement and embed compliance frameworks that ensure risk assessments, monitoring processes and senior management oversight meet the FCA\u2019s expectations. When combined with Recordsure\u2019s AI, which captures and analyses interactions, firms gain a clear audit trail, enhanced monitoring capabilities, and the confidence to manage compliance risks effectively.\n\n1. Data privacy and cyber risk integration\n\nWhat\u2019s changing\n\nThe FCA has signalled that operational resilience must go beyond compliance frameworks to address how firms actually protect client data and respond to cyber threats. Its focus is expanding to include data privacy, cybersecurity controls, incident reporting and the resilience of third-party and vendor ecosystems. As firms become more digital and interconnected, the regulator expects closer integration among operational resilience, cyber security and data governance \u2013 rather than treating them as separate disciplines.\n\nWhy it matters now\n\nCyber incidents, data breaches and third-party failures can cause immediate and widespread harm to customers and markets, as seen in numerous high-profile incidents in 2025. The FCA increasingly expects firms to demonstrate that data protection and cyber risk are embedded in their resilience planning with clear escalation, testing and response mechanisms in place.\n\nAreas to watch 9. ESG compliance\n\nWhat\u2019s changing\n\nThe FCA is increasing its focus on ESG and sustainable finance, emphasising accurate disclosures, sound governance and strong controls. The December 2025 Regulatory Initiatives Grid highlights key upcoming measures, including Sustainability Disclosure Requirements (SDRs), oversight of ESG rating providers and alignment with the UK Sustainability Reporting Standards. Firms are expected to ensure ESG considerations are fully embedded in product design, distribution and ongoing oversight, supported by reliable data and transparent governance.\n\nWhy it matters now\n\nAs demand for sustainable products grows, the FCA is signalling that claims must be transparent, substantiated and aligned with emerging regulatory standards. Firms that fail to meet these expectations risk undermining consumer trust, attracting regulatory scrutiny and harming market integrity. The next two years will see implementation milestones for SDR, ESG rating regulations and sustainability reporting, making proactive compliance essential.\n\n1. Ongoing advice services\n\nWhat's changing\n\nThe FCA is reviewing how ongoing financial advice is delivered, including a potential removal of the annual suitability requirement for advice clients. This was signalled by the FCA when it published the findings of its review of ongoing financial advice services earlier this year. We are expecting the FCA to clarify its position in H1 2026.\n\nWhy it matters now\n\nWith changes to the annual suitability requirement under consideration, firms must ensure that they can continue to demonstrate that clients receive timely, appropriate advice. Clear evidence of ongoing oversight and engagement is critical to protecting clients, managing regulatory expectations and maintaining trust. Failure to meet these standards could lead to customer harm, complaints or regulatory scrutiny.\n\nWhere firms typically struggle\n\nFirms often struggle to consistently demonstrate ongoing suitability, particularly when record-keeping and monitoring processes are fragmented. Challenges include tracking changes in client circumstances, aligning advice with evolving client objectives and ensuring that communications and recommendations are documented effectively.\n\nHow TCC and Recordsure can help\n\nTCC helps firms embed governance, workflows and monitoring processes to ensure that ongoing advice is consistently suitable, client-focused and fully auditable. Recordsure\u2019s AI captures client interactions and key decisions, creating a clear, evidence-based record that demonstrates regulatory compliance and supports firms in delivering high-quality, transparent advice.\n\nConclusion\n\nAs we move into 2026, financial services firms face a landscape of rapid change, an evolving political agenda, greater responsibility on firms when it comes to active risk management and rising customer expectations.\n\nCompliance is not a once-and-done exercise, and it\u2019s vital to continue to embed the Consumer Duty throughout the culture of the business \u2013 from product design and distribution to communications and support for vulnerable clients. At the same time, firms adopting AI, data analytics or third-party technology need to ensure that innovation is underpinned by strong governance, effective vendor oversight, and effective model and data controls.\n\nOperational resilience and a healthy risk culture remain critical, encompassing cyber security, third-party dependencies, business continuity and clear senior management accountability. AML, fraud, and financial crime controls remain a core obligation, and firms must balance innovation with these fundamental responsibilities.\n\nWith regulatory change reducing, the FCA signals opportunities for simplification, but the pressure on firms to evidence good outcomes through the use of data is not going away. Firms that are organised, transparent and proactive will be best placed to benefit from more predictable and proportionate supervision.\n\nIndependent expertise\n\nPartnering with independent experts such as TCC, alongside utilising Recordsure\u2019s AI technology, can help firms navigate this complex landscape. TCC\u2019s team of experts bring deep regulatory expertise and practical experience to strengthen business models, governance frameworks and operational compliance processes. While using Recordsure\u2019s purpose-built AI to capture and analyse client and employee interactions at scale, enables firms to monitor outcomes, demonstrate compliance and provide clear oversight.\n\nTogether, we empower firms to act confidently, innovate responsibly and deliver lasting value to customers while meeting financial services regulatory expectations. 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"https://www.fca.org.uk/publications/corporate-documents/consumer-duty-focus-areas#:~:text=Corporate%20documents%20Published:%2030/09,and%20our%20annual%20work%20programme" }, { "@type": "CreativeWork", "name": "FCA motor finance complaints information for firms", "url": "https://www.fca.org.uk/firms/information-firms-motor-finance-complaints" }, { "@type": "CreativeWork", "name": "FCA statement on motor finance complaints pause", "url": "https://www.fca.org.uk/news/statements/pause-motor-finance-complaints-handling-lift-31-may-2026" }, { "@type": "CreativeWork", "name": "FCA targeted support announcement", "url": "https://www.fca.org.uk/news/press-releases/millions-extra-help-investments-pensions-decisions" }, { "@type": "CreativeWork", "name": "FCA insurance simplification announcement", "url": "https://www.fca.org.uk/news/press-releases/fca-simplifies-insurance-rules-and-plans-further-reviews-requirements" }, { "@type": "CreativeWork", "name": "FCA policy statement PS25/21 on simplifying insurance rules", "url": "https://www.fca.org.uk/publications/policy-statements/ps25-21-simplifying-insurance-rules" }, { "@type": "CreativeWork", "name": "FCA Nationwide fine announcement", "url": "https://www.fca.org.uk/news/press-releases/fca-fines-nationwide-44m-failings-financial-crime-controls" }, { "@type": "CreativeWork", "name": "FCA operational resilience blog", "url": "https://www.fca.org.uk/news/blogs/operational-resilience-beyond-regulatory-raincoats" }, { "@type": "CreativeWork", "name": "December 2025 Regulatory Initiatives Grid", "url": "https://www.fca.org.uk/publication/corporate/regulatory-initiatives-grid-dec-2025.pdf" }, { "@type": "CreativeWork", "name": "FCA review of ongoing financial advice services", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "text": "As financial services firms consider what lies ahead for them in 2026, the FCA\u2019s priorities for 2025\u20132030 continue to emphasise the delicate balance between supporting growth and ensuring firms \u201cdo the right thing.\u201d\n\nThe FCA\u2019s five-year strategy, set out in March 2025, is anchored in four areas: being a smarter, more efficient regulator; supporting growth and innovation; helping customers navigate their financial lives; and combating financial crime. Regulatory efficiency and proportionality remain front and centre: firms that seek to do the right thing can expect streamlined reporting, simplified authorisation and reduced data requests \u2013 with 36,000 firms already benefiting from lighter reporting obligations.\n\nIn a recent letter to Prime Minister Keir Starmer, FCA CEO Nikhil Rathi highlighted the regulator\u2019s focus on enabling sustainable financial growth, supporting digital innovation and promoting financial inclusion \u2013 all while protecting consumers and safeguarding market integrity.\n\nAgainst this backdrop, financial services firms are operating under a more pro-growth regulatory approach, with reduced reporting burdens, fewer formal enforcement actions but continued supervisory scrutiny. The FCA is placing greater reliance on data requests as a tool for supervision and asking firms to evidence how they are delivering good outcomes for customers, fighting financial crime and demonstrating effective governance and risk management whilst continuing to deliver value for customers.\n\nWe\u2019ve grouped our top ten priorities into four key topics: current themes, emerging opportunities, ongoing issues and areas to watch. Together, these highlight where firms should focus in 2026 to meet FCA expectations, manage risk effectively and deliver lasting value for customers.\n\nCurrent themes 1. Embedding and monitoring the Consumer Duty" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA continues to prioritise embedding the Consumer Duty across all sectors, using it as the primary mechanism to drive good outcomes rather than introducing prescriptive rules. The regulator\u2019s plan for multi-firm reviews will examine how the Duty is being embedded with a focus on outcome monitoring, product design, customer journey mapping and consumer understanding. For example, in the consumer investment sector, the FCA is conducting a market-wide review of the implementation of the Duty in model portfolio services.\n\nThe treatment of vulnerable customers also remains of regulatory importance. As part of a streamlined complaints reporting process, the FCA now requires firms to report complaints involving vulnerable customers and is working with the Information Commissioner\u2019s Office (ICO) to address the challenges of supporting such customers while complying with data protection requirements." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Embedding the Consumer Duty well is crucial for protecting customers, improving engagement and ensuring delivery of fair value \u2013 particularly for vulnerable clients. Regulatory scrutiny is intensifying, with the FCA expecting firms to evidence how they assess and monitor outcomes, design products responsibly and communicate effectively with consumers. Despite a reduced number of S166s the FCA is increasing its use of information requests as a supervisory tool. Consistent alignment is key to gaining a competitive advantage of fostering trust and transparency." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms typically struggle", "text": "Firms can often find it challenging to translate high-level Consumer Duty requirements into operational practice. Common issues include inconsistent monitoring of customer outcomes, fragmented ownership of product governance, gaps in customer journey design and poor identification of vulnerable clients. These gaps can lead to compliance risks and missed opportunities to improve customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "How TCC and Recordsure can help", "text": "TCC\u2019s experts work with firms to embed the Consumer Duty\u2019s principles into their governance, culture and business model, which, in turn, helps create a clear, auditable framework for monitoring customer outcomes. Recordsure\u2019s AI-led technology complements this by capturing and evidencing client interactions, enabling firms to demonstrate regulatory compliance efficiently and confidently, whilst keeping customer outcomes at the heart of the firm\u2019s operations.\n\n1. Tech, data and innovation" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA is pursuing a five-year strategy focused on supporting growth, improving consumer outcomes and becoming a \u201csmarter regulator\u201d through digitalisation, streamlined authorisations and more efficient supervision. As digital transformation accelerates, firms are increasingly embedding new technologies such as AI, data analytics and digital identity solutions. Regulatory expectations are evolving to ensure these innovations are deployed safely, whilst the FCA invests in its own technology, people and systems." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Firms are expected to ensure that any AI and data-driven tools they use are explainable, unbiased and aligned with customer outcomes, whilst maintaining effective oversight of vendors and models. Responsible use of AI is fast becoming a priority \u2013 firms and technology vendors should be deploying the highest AI principles to ensure safety, security, ethical responsibility and accountability. The FCA\u2019s focus on smarter regulation means firms that don\u2019t manage technology and data risks effectively may face increased scrutiny and enforcement action." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms typically struggle", "text": "Many firms struggle with embedding emerging technology safely and at scale. Common challenges include implementing effective data governance, monitoring risk and maintaining compliance with data protection requirements. These gaps can increase operational, reputational and regulatory risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "How TCC and Recordsure can help", "text": "TCC and Recordsure combine smart people and innovative technology to help firms navigate regulatory complexity, strengthen compliance and unlock lasting value. TCC embeds governance and operational frameworks for safe innovation, while Recordsure\u2019s AI captures and analyses client interactions at scale, helping firms monitor outcomes, manage risk and demonstrate compliance.\n\n1. Motor finance redress scheme" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-10", "position": 10, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA is progressing its work on motor finance following concerns about historical discretionary commission arrangements (DCAs) and has paused handling certain motor finance complaints while the regulatory and legal position is clarified. Firms are expected to retain relevant records, respond to FCA data requests and prepare for an industry-wide redress scheme. The regulator has made it clear that operational readiness, data integrity and governance will be critical when the scheme is introduced." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-11", "position": 11, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Motor finance redress presents significant financial, operational and reputational risk. Firms that delay preparation risk being unable to respond quickly and effectively to large volumes of complaints, regulatory information requests and potential redress activity. The FCA\u2019s intervention in complaints handling underscores its expectation that firms act proactively to protect customer outcomes and maintain trust, even while final decisions are pending." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-12", "position": 12, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms typically struggle", "text": "Many firms face challenges with fragmented or incomplete historical data, inconsistent documentation of commission arrangements and limited visibility over past customer journeys. Scaling complaints handling, responding to regulatory data requests and evidencing fair treatment can strain existing operations. Weak governance, unclear ownership and insufficient management information further increase execution and regulatory risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-13", "position": 13, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "How TCC and Recordsure can help", "text": "At TCC Group, together with our Momenta brand, we combine deep expertise with years of experience delivering innovative solutions that help firms execute proposed redress schemes efficiently and at pace. We support clients in preparing and validating existing plans and go further by partnering to build sound processes and solutions that ensure long-term compliance and resilience.\n\nEmerging opportunities 4. Targted support" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-14", "position": 14, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "Following a joint review with the government and two consultation papers, the FCA has published its policy statement and near-final rules for the new targeted support regime. The framework aims to bridge the gap between guidance and advice for pensions and retail investments, addressing the needs of an estimated 7 million UK adults with significant cash savings who may be missing out on investment opportunities. Firms can apply for FCA permissions to deliver targeted support from March 2026, ahead of the regime\u2019s planned implementation on the 6th of April 2026, subject to legislation. Some firms are already engaging with the FCA\u2019s pre-application support service." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-15", "position": 15, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "With only a small fraction of consumers accessing regulated financial advice, many savers and investors remain unsupported at crucial decision points. The new targeted support regime presents a potential area for growth for firms \u2013 particularly product providers and those new to the market \u2013 and reflects the political agenda to encourage investment. It aims to enable customers to make informed decisions, a core part of the cross-cutting rules,with guidance on how to receive better returns on their cash savings, as well as supporting those who are not saving enough for retirement.\n\n1. Simplification of insurance rules" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-16", "position": 16, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA has finalised its simplified insurance rules and plans further review to give insurance firms more \u201cflexibility and responsibility\u201d.Key changes include giving firms the flexibility to set product review frequency, moving from annual reviews per product to risk-based reviews, and removing the 15-hour continuing professional development (CPD) requirement for staff. The regulator also intends to remove three further insurance data returns, reassess eligibility and disclosure requirements for packaged bank accounts, streamline collective investment rules and remove handbook references that are no longer needed under the Consumer Duty." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-17", "position": 17, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Simplified rules will enable firms to reduce compliance costs and focus resources where they are most needed. By reducing regulatory burdens, insurers can strengthen their competitive position.\n\n1. Governance \u2013 non-financial misconduct" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-18", "position": 18, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA has long warned that a firm\u2019s handling of non-financial misconduct is a key indicator of its culture. It has now issued much-anticipated guidance on how firms should interpret non-financial misconduct within its Conduct Rules and within firms required annual assessment of an employee\u2019s Fitness and Propriety (F&P). The guidance clarifies that behaviours such as bullying and harassment can constitute breaches of fundamental principles. Starting in September 2026, it will also introduce minimum standards of behaviour for employees across financial services and outline the factors that should be considered when assessing their F&P." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-19", "position": 19, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Non-financial misconduct is an increasingly high-profile area under regulatory scrutiny, and poorly managed misconduct is a clear sign of weak governance.\n\nThe regulator\u2019s message is unmistakable: how a firm handles non-financial misconduct reflects its culture. Poor culture harms not just consumers and employees but also markets and a firm\u2019s bottom line. The FCA is now actively prioritising this issue through its supervision of firms and senior managers, so taking a proactive approach to address it will give firms a clear advantage.\n\nOngoing issues 7. Financial crime and market integrity" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-20", "position": 20, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA continues to prioritise the detection and prevention of financial crime, including money laundering, fraud and market abuse. Its 2025\u201330 strategy highlights the increasing complexity of digital payments, fintech innovation and emerging financial crime threats, emphasising that firms must implement adaptable and risk-based controls. The recent \u00a344m fine against Nationwide for failures in anti-financial crime systems underscores the regulator\u2019s focus on firms\u2019 ability to maintain accurate know-your-customer information, monitor transactions effectively and respond promptly to emerging risks. Firms are expected to strengthen oversight, embed accountability and proactively identify high-risk customers and activities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-21", "position": 21, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Financial crime risks can expose firms to regulatory breaches, significant financial losses, reputational damage and the erosion of consumer trust. With rapid growth in digital channels and payment methods, the FCA expects firms to move beyond static compliance checklists to implement proactive, adaptable and fully integrated financial crime controls." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-22", "position": 22, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms typically struggle", "text": "Common challenges include embedding effective financial crime frameworks across the business, maintaining clear accountability, conducting comprehensive risk assessments, monitoring third parties and appointed representatives, and keeping pace with evolving threats. Financial crime is no longer a static threat \u2013 with the increasing presence of fintech products, instant payments and AI-driven fraud, firms need to rethink their fraud prevention strategy to protect customers in real-time digital world. Firms also often struggle to capture complete evidence and provide senior management with sufficient oversight for informed decision-making and regulatory reporting." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-23", "position": 23, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "How TCC and Recordsure can help", "text": "TCC\u2019s team of practitioners and ex-regulators can help firms design, implement and embed compliance frameworks that ensure risk assessments, monitoring processes and senior management oversight meet the FCA\u2019s expectations. When combined with Recordsure\u2019s AI, which captures and analyses interactions, firms gain a clear audit trail, enhanced monitoring capabilities, and the confidence to manage compliance risks effectively.\n\n1. Data privacy and cyber risk integration" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-24", "position": 24, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA has signalled that operational resilience must go beyond compliance frameworks to address how firms actually protect client data and respond to cyber threats. Its focus is expanding to include data privacy, cybersecurity controls, incident reporting and the resilience of third-party and vendor ecosystems. As firms become more digital and interconnected, the regulator expects closer integration among operational resilience, cyber security and data governance \u2013 rather than treating them as separate disciplines." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-25", "position": 25, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "Cyber incidents, data breaches and third-party failures can cause immediate and widespread harm to customers and markets, as seen in numerous high-profile incidents in 2025. The FCA increasingly expects firms to demonstrate that data protection and cyber risk are embedded in their resilience planning with clear escalation, testing and response mechanisms in place.\n\nAreas to watch 9. ESG compliance" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-26", "position": 26, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s changing", "text": "The FCA is increasing its focus on ESG and sustainable finance, emphasising accurate disclosures, sound governance and strong controls. The December 2025 Regulatory Initiatives Grid highlights key upcoming measures, including Sustainability Disclosure Requirements (SDRs), oversight of ESG rating providers and alignment with the UK Sustainability Reporting Standards. Firms are expected to ensure ESG considerations are fully embedded in product design, distribution and ongoing oversight, supported by reliable data and transparent governance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-27", "position": 27, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "As demand for sustainable products grows, the FCA is signalling that claims must be transparent, substantiated and aligned with emerging regulatory standards. Firms that fail to meet these expectations risk undermining consumer trust, attracting regulatory scrutiny and harming market integrity. The next two years will see implementation milestones for SDR, ESG rating regulations and sustainability reporting, making proactive compliance essential.\n\n1. Ongoing advice services" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-28", "position": 28, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "What's changing", "text": "The FCA is reviewing how ongoing financial advice is delivered, including a potential removal of the annual suitability requirement for advice clients. This was signalled by the FCA when it published the findings of its review of ongoing financial advice services earlier this year. We are expecting the FCA to clarify its position in H1 2026." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-29", "position": 29, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Why it matters now", "text": "With changes to the annual suitability requirement under consideration, firms must ensure that they can continue to demonstrate that clients receive timely, appropriate advice. Clear evidence of ongoing oversight and engagement is critical to protecting clients, managing regulatory expectations and maintaining trust. Failure to meet these standards could lead to customer harm, complaints or regulatory scrutiny." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-30", "position": 30, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "Where firms typically struggle", "text": "Firms often struggle to consistently demonstrate ongoing suitability, particularly when record-keeping and monitoring processes are fragmented. Challenges include tracking changes in client circumstances, aligning advice with evolving client objectives and ensuring that communications and recommendations are documented effectively." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#analysis-31", "position": 31, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "headline": "How TCC and Recordsure can help", "text": "TCC helps firms embed governance, workflows and monitoring processes to ensure that ongoing advice is consistently suitable, client-focused and fully auditable. Recordsure\u2019s AI captures client interactions and key decisions, creating a clear, evidence-based record that demonstrates regulatory compliance and supports firms in delivering high-quality, transparent advice.\n\nConclusion\n\nAs we move into 2026, financial services firms face a landscape of rapid change, an evolving political agenda, greater responsibility on firms when it comes to active risk management and rising customer expectations.\n\nCompliance is not a once-and-done exercise, and it\u2019s vital to continue to embed the Consumer Duty throughout the culture of the business \u2013 from product design and distribution to communications and support for vulnerable clients. At the same time, firms adopting AI, data analytics or third-party technology need to ensure that innovation is underpinned by strong governance, effective vendor oversight, and effective model and data controls.\n\nOperational resilience and a healthy risk culture remain critical, encompassing cyber security, third-party dependencies, business continuity and clear senior management accountability. AML, fraud, and financial crime controls remain a core obligation, and firms must balance innovation with these fundamental responsibilities.\n\nWith regulatory change reducing, the FCA signals opportunities for simplification, but the pressure on firms to evidence good outcomes through the use of data is not going away. Firms that are organised, transparent and proactive will be best placed to benefit from more predictable and proportionate supervision.\n\nIndependent expertise\n\nPartnering with independent experts such as TCC, alongside utilising Recordsure\u2019s AI technology, can help firms navigate this complex landscape. TCC\u2019s team of experts bring deep regulatory expertise and practical experience to strengthen business models, governance frameworks and operational compliance processes. While using Recordsure\u2019s purpose-built AI to capture and analyse client and employee interactions at scale, enables firms to monitor outcomes, demonstrate compliance and provide clear oversight.\n\nTogether, we empower firms to act confidently, innovate responsibly and deliver lasting value to customers while meeting financial services regulatory expectations. Wherever you are on your regulatory journey, we can help you work through the challenges, take ownership of responsibilities and reflect inwardly on what these obligations mean for your firm \u2013 turning compliance into a framework for stronger, more accountable business practices." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/2026-regulatory-priorities/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What are the main priority areas for 2026?", "acceptedAnswer": { "@type": "Answer", "text": "The ten priorities are grouped into current themes, emerging opportunities, ongoing issues and areas to watch." } }, { "@type": "Question", "name": "Why does Consumer Duty remain important?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA continues to use it to drive good outcomes, with scrutiny on monitoring, product design, customer journeys and consumer understanding." } }, { "@type": "Question", "name": "What opportunities should firms consider?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies targeted support and simplified insurance rules as emerging opportunities for firms." } }, { "@type": "Question", "name": "What ongoing issues remain?", "acceptedAnswer": { "@type": "Answer", "text": "Financial crime, data privacy, cyber risk and ongoing advice services remain important areas of regulatory focus." } } ] } ] } ``` ### Forum Events & Media Group: 2026 predictions evidencing compliance in a data-led regulatory world - URL: https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/ - Published: 2025-12-17 - Modified: 2026-10-09 **Topic:** Evidence readiness Firms should prepare for more targeted data requests and higher standards of proof. Evidence readiness needs to be embedded in day-to-day operations. #### Key points - The FCA is sharpening expectations around evidencing compliance. - Firms should move from intent-led compliance to continuous evidence readiness. - Incomplete audit trails and manual sample-led approaches may fall short. - Predictive AI and human expertise can support population-level insight and demonstrable outcomes. As the FCA sharpens its expectations around evidencing compliance, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), outlines how firms must prepare for 2026 by shifting from intent-led compliance to continuous, data-driven evidence readiness, as featured by Forum Events & Media Group. Firms should expect more targeted data requests, higher standards of proof and less tolerance for incomplete audit trails or manual, sample-led approaches. Those relying on periodic reviews or human-only oversight risk falling behind as evidential demands increase. In 2026, success will belong to firms that embed evidence readiness into day-to-day operations, combining predictive AI with human expertise to deliver population-level insight, audit trails and demonstrable customer outcomes. #### Supporting sources - [Forum Events & Media Group](https://fpsummit.co.uk/briefing/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Forum Events & Media Group: 2026 predictions evidencing compliance in a data-led regulatory world", "item": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#webpage", "url": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/", "name": "Forum Events & Media Group: 2026 predictions evidencing compliance in a data-led regulatory world", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-12-17T09:14:28+00:00", "dateModified": "2026-03-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2026-03-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Forum Events & Media Group: 2026 predictions evidencing compliance in a data-led regulatory world", "datePublished": "2025-12-17T09:14:28+00:00", "dateModified": "2026-10-09T04:50:27+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3802f8890777496987aa3245818caf50/thumbnail-1024-0212867ed253299c241c5754868a30dbe557a1bf683b2d7736e54a45d7871e08.jpg", "description": "Joe Norburn\u2019s Forum Events & Media Group feature sets out why firms should prepare for continuous, data-driven evidence readiness in 2026.", "inLanguage": "en-GB", "articleBody": "Firms should prepare for more targeted data requests and higher standards of proof. Evidence readiness needs to be embedded in day-to-day operations.\n\nAs the FCA sharpens its expectations around evidencing compliance, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), outlines how firms must prepare for 2026 by shifting from intent-led compliance to continuous, data-driven evidence readiness, as featured by Forum Events & Media Group.\n\nFirms should expect more targeted data requests, higher standards of proof and less tolerance for incomplete audit trails or manual, sample-led approaches. Those relying on periodic reviews or human-only oversight risk falling behind as evidential demands increase.\n\nIn 2026, success will belong to firms that embed evidence readiness into day-to-day operations, combining predictive AI with human expertise to deliver population-level insight, audit trails and demonstrable customer outcomes.", "wordCount": 133, "hasPart": [ { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#analysis-1" } ], "about": [ { "@type": "Thing", "name": "Evidence readiness" } ], "citation": [ { "@type": "CreativeWork", "name": "Forum Events & Media Group", "url": "https://fpsummit.co.uk/briefing/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#webpage" }, "inLanguage": "en-GB", "text": "As the FCA sharpens its expectations around evidencing compliance, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), outlines how firms must prepare for 2026 by shifting from intent-led compliance to continuous, data-driven evidence readiness, as featured by Forum Events & Media Group.\n\nFirms should expect more targeted data requests, higher standards of proof and less tolerance for incomplete audit trails or manual, sample-led approaches. Those relying on periodic reviews or human-only oversight risk falling behind as evidential demands increase.\n\nIn 2026, success will belong to firms that embed evidence readiness into day-to-day operations, combining predictive AI with human expertise to deliver population-level insight, audit trails and demonstrable customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/forum-events-media-group-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world-2/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What shift must firms make for 2026?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should move from intent-led compliance to continuous, data-driven evidence readiness." } }, { "@type": "Question", "name": "What evidential demands should firms expect?", "acceptedAnswer": { "@type": "Answer", "text": "They should expect targeted data requests, higher standards of proof and less tolerance for incomplete audit trails." } }, { "@type": "Question", "name": "What approaches may fall behind?", "acceptedAnswer": { "@type": "Answer", "text": "Periodic reviews and human-only oversight may fall behind as evidential demands increase." } } ] } ] } ``` ### From principles to proof: Data-led compliance evidencing in 2026 - URL: https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/ - Published: 2025-12-16 - Modified: 2026-10-09 **Topic:** Evidence readiness In 2026, compliance teams will need continuous evidence readiness: high-quality data, reliable audit trails, scalable outcome testing and faster responses to FCA scrutiny. #### Key points - Firms should expect more targeted evidence requests and granular scrutiny in 2026. - A TCC Group poll found 42% believe the regulatory environment is unlikely to change significantly. - TCC data says 17% review more than 10% of interactions, while 30% do not record all customer conversations. - Predictive AI is presented as a route from low-volume sampling to population-level insight. If 2024 and 2025 were about interpreting the FCA’s Consumer Duty, 2026 will be about proving it. Political pressure to stimulate growth may continue and talk of “reducing burdens” will persist. But firms should expect the operational reality to move in the opposite direction: more targeted evidence requests, more granular scrutiny and less tolerance for “we think we’re doing the right thing” without demonstrable proof. Joe Norburn, CEO of [TCC Group](https://tcc.group/tcc-group/) (TCC, Momenta and Recordsure), sets out the predictions for how evidencing compliance will evolve in 2026. #### “Mixed signals” might continue, but the direction is clear The FCA is increasingly operating an increasingly outcome-focused model of supervision built on data, not intention. In practice, that means firms must be ready to demonstrate, often at short notice, how they are measuring, monitoring and consistently delivering good outcomes. While 42% of respondents in a recent poll conducted by TCC Group believe the regulatory environment is unlikely to change significantly, the FCA’s use of tools such as S165 mandatory information requests and bespoke data demands are set to remain central as it tests what happens in real customer journeys, not just what sits within policy documents. **Prediction** In 2026, firms that treat Consumer Duty evidence as a periodic exercise will be on the backfoot. The winners will recognise that “evidence readiness” is a continuous operational state, not a quarterly task. #### The standard of proof will rise again The regulatory intent remains the same but the expectation of “principles with proof” is hardening. Across the sector, long standing evidential gaps, missing audit trails, inconsistent records and incomplete documentation continue to create avoidable risk. Even when firms have delivered appropriate outcomes, a weak evidence chain can turn good practice into a regulatory vulnerability. TCC’s data shows the tension clearly: 17% of businesses now review more than 10% of interactions (significantly above the historic baseline), yet 30% still do not record all customer conversations, and 35% only record and assess a small fraction of client interactions. **Prediction** In 2026, the FCA will pay closer attention to how reliably audit trails and evidence can be produced, not simply whether a firm believes it has delivered good customer outcomes. #### The confidence gap in outcome testing will become more visible While 82% of businesses report confidence in their ability to evidence that known vulnerable customers were treated appropriately, the operational foundations often tell a different story. If conversations aren’t consistently recorded or if assessments rely on small samples alone, the bigger compliance picture remains unclear. Post-interaction surveys and structured comprehension testing are among some of the most reliable methods for validating understanding but are still underused. **Prediction** The regulator will push firms to demonstrate not just procedural compliance but also proven customer comprehension and absence of detriment, supported by consistent and retrievable evidence. #### Manual compliance models will struggle to hold up under 2026 demands Traditional outcome testing relies on labour-intensive manual sampling. Most compliance teams simply do not have the capacity to review interactions at statistically meaningful levels. As evidential expectations mature, the gap between what firms *need* to evidence and what they can evidence manually will widen. **Prediction** By late 2026, “manual-first” models will increasingly be viewed as insufficient and dated for larger firms and complex advice/service models, particularly where volumes are high, and risk is unevenly distributed. #### Predictive AI will become a core compliance capability (with humans firmly in the loop) As evidential expectations rise, technology, specifically predictive AI, will shift from being seen as “innovation” to becoming part of critical compliance infrastructure. Unlike generative AI tools, predictive models can surface risk patterns, identify missing steps and analyse entire populations of interactions. When used to triage effectively, they allow human specialists to focus on the conversations and files that require their expertise, while creating stronger and more consistent audit trails without expanding headcount. **Prediction** The firms best positioned for 2026 will use predictive AI tools to move from low-volume sampling to population-level insight, improving response speed to FCA queries and strengthening internal decision-making. #### The defining capability of 2026: evidence readiness In 2026, compliance leaders won’t be judged on good intentions. Instead, they’ll be judged on the quality and consistency of their evidence. Firms that invest now in data quality, evidencing frameworks and scalable outcome testing will not only reduce regulatory risk but also unlock operational efficiencies and improved customer outcomes. In the FCA’s maturing model, being able to say “we can show you” will be the real competitive advantage as firms head into the new year. \**All figures, unless otherwise stated, are from TCC Group. Total sample size was 20 compliance professionals within the finance space across various sectors. The survey was carried out online.* > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Political pressure to stimulate growth may continue and talk of \u201creducing burdens\u201d will persist. But firms should expect the operational reality to move in the opposite direction: more targeted evidence requests, more granular scrutiny and less tolerance for \u201cwe think we\u2019re doing the right thing\u201d without demonstrable proof.\n\nJoe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), sets out the predictions for how evidencing compliance will evolve in 2026.\n\n\u201cMixed signals\u201d might continue, but the direction is clear\n\nThe FCA is increasingly operating an increasingly outcome-focused model of supervision built on data, not intention. In practice, that means firms must be ready to demonstrate, often at short notice, how they are measuring, monitoring and consistently delivering good outcomes.\n\nWhile 42% of respondents in a recent poll conducted by TCC Group believe the regulatory environment is unlikely to change significantly, the FCA\u2019s use of tools such as S165 mandatory information requests and bespoke data demands are set to remain central as it tests what happens in real customer journeys, not just what sits within policy documents.\n\nPrediction In 2026, firms that treat Consumer Duty evidence as a periodic exercise will be on the backfoot. The winners will recognise that \u201cevidence readiness\u201d is a continuous operational state, not a quarterly task.\n\nThe standard of proof will rise again\n\nThe regulatory intent remains the same but the expectation of \u201cprinciples with proof\u201d is hardening. Across the sector, long standing evidential gaps, missing audit trails, inconsistent records and incomplete documentation continue to create avoidable risk. Even when firms have delivered appropriate outcomes, a weak evidence chain can turn good practice into a regulatory vulnerability.\n\nTCC\u2019s data shows the tension clearly: 17% of businesses now review more than 10% of interactions (significantly above the historic baseline), yet 30% still do not record all customer conversations, and 35% only record and assess a small fraction of client interactions.\n\nPrediction In 2026, the FCA will pay closer attention to how reliably audit trails and evidence can be produced, not simply whether a firm believes it has delivered good customer outcomes.\n\nThe confidence gap in outcome testing will become more visible\n\nWhile 82% of businesses report confidence in their ability to evidence that known vulnerable customers were treated appropriately, the operational foundations often tell a different story. If conversations aren\u2019t consistently recorded or if assessments rely on small samples alone, the bigger compliance picture remains unclear. Post-interaction surveys and structured comprehension testing are among some of the most reliable methods for validating understanding but are still underused.\n\nPrediction The regulator will push firms to demonstrate not just procedural compliance but also proven customer comprehension and absence of detriment, supported by consistent and retrievable evidence.\n\nManual compliance models will struggle to hold up under 2026 demands\n\nTraditional outcome testing relies on labour-intensive manual sampling. Most compliance teams simply do not have the capacity to review interactions at statistically meaningful levels. As evidential expectations mature, the gap between what firms need to evidence and what they can evidence manually will widen.\n\nPrediction By late 2026, \u201cmanual-first\u201d models will increasingly be viewed as insufficient and dated for larger firms and complex advice/service models, particularly where volumes are high, and risk is unevenly distributed.\n\nPredictive AI will become a core compliance capability (with humans firmly in the loop)\n\nAs evidential expectations rise, technology, specifically predictive AI, will shift from being seen as \u201cinnovation\u201d to becoming part of critical compliance infrastructure. Unlike generative AI tools, predictive models can surface risk patterns, identify missing steps and analyse entire populations of interactions. When used to triage effectively, they allow human specialists to focus on the conversations and files that require their expertise, while creating stronger and more consistent audit trails without expanding headcount.\n\nPrediction The firms best positioned for 2026 will use predictive AI tools to move from low-volume sampling to population-level insight, improving response speed to FCA queries and strengthening internal decision-making.\n\nThe defining capability of 2026: evidence readiness\n\nIn 2026, compliance leaders won\u2019t be judged on good intentions. Instead, they\u2019ll be judged on the quality and consistency of their evidence. Firms that invest now in data quality, evidencing frameworks and scalable outcome testing will not only reduce regulatory risk but also unlock operational efficiencies and improved customer outcomes.\n\nIn the FCA\u2019s maturing model, being able to say \u201cwe can show you\u201d will be the real competitive advantage as firms head into the new year.\n\nAll figures, unless otherwise stated, are from TCC Group. Total sample size was 20 compliance professionals within the finance space across various sectors. The survey was carried out online.", "wordCount": 801, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Evidence readiness" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "text": "If 2024 and 2025 were about interpreting the FCA\u2019s Consumer Duty, 2026 will be about proving it. Political pressure to stimulate growth may continue and talk of \u201creducing burdens\u201d will persist. But firms should expect the operational reality to move in the opposite direction: more targeted evidence requests, more granular scrutiny and less tolerance for \u201cwe think we\u2019re doing the right thing\u201d without demonstrable proof.\n\nJoe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), sets out the predictions for how evidencing compliance will evolve in 2026." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "\u201cMixed signals\u201d might continue, but the direction is clear", "text": "The FCA is increasingly operating an increasingly outcome-focused model of supervision built on data, not intention. In practice, that means firms must be ready to demonstrate, often at short notice, how they are measuring, monitoring and consistently delivering good outcomes.\n\nWhile 42% of respondents in a recent poll conducted by TCC Group believe the regulatory environment is unlikely to change significantly, the FCA\u2019s use of tools such as S165 mandatory information requests and bespoke data demands are set to remain central as it tests what happens in real customer journeys, not just what sits within policy documents.\n\nPrediction In 2026, firms that treat Consumer Duty evidence as a periodic exercise will be on the backfoot. The winners will recognise that \u201cevidence readiness\u201d is a continuous operational state, not a quarterly task." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "The standard of proof will rise again", "text": "The regulatory intent remains the same but the expectation of \u201cprinciples with proof\u201d is hardening. Across the sector, long standing evidential gaps, missing audit trails, inconsistent records and incomplete documentation continue to create avoidable risk. Even when firms have delivered appropriate outcomes, a weak evidence chain can turn good practice into a regulatory vulnerability.\n\nTCC\u2019s data shows the tension clearly: 17% of businesses now review more than 10% of interactions (significantly above the historic baseline), yet 30% still do not record all customer conversations, and 35% only record and assess a small fraction of client interactions.\n\nPrediction In 2026, the FCA will pay closer attention to how reliably audit trails and evidence can be produced, not simply whether a firm believes it has delivered good customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "The confidence gap in outcome testing will become more visible", "text": "While 82% of businesses report confidence in their ability to evidence that known vulnerable customers were treated appropriately, the operational foundations often tell a different story. If conversations aren\u2019t consistently recorded or if assessments rely on small samples alone, the bigger compliance picture remains unclear. Post-interaction surveys and structured comprehension testing are among some of the most reliable methods for validating understanding but are still underused.\n\nPrediction The regulator will push firms to demonstrate not just procedural compliance but also proven customer comprehension and absence of detriment, supported by consistent and retrievable evidence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "Manual compliance models will struggle to hold up under 2026 demands", "text": "Traditional outcome testing relies on labour-intensive manual sampling. Most compliance teams simply do not have the capacity to review interactions at statistically meaningful levels. As evidential expectations mature, the gap between what firms need to evidence and what they can evidence manually will widen.\n\nPrediction By late 2026, \u201cmanual-first\u201d models will increasingly be viewed as insufficient and dated for larger firms and complex advice/service models, particularly where volumes are high, and risk is unevenly distributed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "Predictive AI will become a core compliance capability (with humans firmly in the loop)", "text": "As evidential expectations rise, technology, specifically predictive AI, will shift from being seen as \u201cinnovation\u201d to becoming part of critical compliance infrastructure. Unlike generative AI tools, predictive models can surface risk patterns, identify missing steps and analyse entire populations of interactions. When used to triage effectively, they allow human specialists to focus on the conversations and files that require their expertise, while creating stronger and more consistent audit trails without expanding headcount.\n\nPrediction The firms best positioned for 2026 will use predictive AI tools to move from low-volume sampling to population-level insight, improving response speed to FCA queries and strengthening internal decision-making." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "headline": "The defining capability of 2026: evidence readiness", "text": "In 2026, compliance leaders won\u2019t be judged on good intentions. Instead, they\u2019ll be judged on the quality and consistency of their evidence. Firms that invest now in data quality, evidencing frameworks and scalable outcome testing will not only reduce regulatory risk but also unlock operational efficiencies and improved customer outcomes.\n\nIn the FCA\u2019s maturing model, being able to say \u201cwe can show you\u201d will be the real competitive advantage as firms head into the new year.\n\nAll figures, unless otherwise stated, are from TCC Group. Total sample size was 20 compliance professionals within the finance space across various sectors. The survey was carried out online." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-principles-to-proof-data-led-compliance-evidencing-in-2026/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changes in 2026?", "acceptedAnswer": { "@type": "Answer", "text": "Firms will need to prove Consumer Duty outcomes through consistent, retrievable evidence." } }, { "@type": "Question", "name": "What FCA tools are mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "S165 mandatory information requests and bespoke data demands are mentioned." } }, { "@type": "Question", "name": "Why are manual-first models challenged?", "acceptedAnswer": { "@type": "Answer", "text": "Manual sampling cannot review interactions at statistically meaningful levels for larger or complex firms." } }, { "@type": "Question", "name": "What role does predictive AI play?", "acceptedAnswer": { "@type": "Answer", "text": "Predictive AI can surface risk patterns, identify missing steps and analyse whole populations of interactions." } } ] } ] } ``` ### IT Reseller: 2026 predictions: Evidencing compliance in a data-led regulatory world - URL: https://recordsure.com/insights/news/it-reseller-2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/ - Published: 2025-12-15 - Modified: 2026-10-09 **Topic:** Data-led compliance The next phase of Consumer Duty will be about proving outcomes rather than interpreting expectations. Firms should expect more granular scrutiny and stronger evidence requirements. #### Key points - The FCA’s focus is moving towards evidencing compliance and proving Consumer Duty outcomes. - Political pressure may continue, but operational scrutiny is expected to increase. - Firms should combine predictive AI with human oversight to prepare for 2026. Following the FCA’s evolving focus on evidencing compliance, Joe Norburn, CEO of TCC Group (TCC, Momenta and Recordsure), has outlined how firms can prepare for 2026 by adopting data-led approaches that combine predictive AI with human oversight — as featured in IT Reseller. If 2024 and 2025 were about interpreting the FCA’s Consumer Duty, 2026 will be about proving it. Political pressure to stimulate growth may continue and talk of ‘reducing burdens’ will persist. However, firms should expect the operational reality to move in the opposite direction: more targeted evidence requests, more granular scrutiny and less tolerance for ‘we think we’re doing the right thing’ without demonstrable proof. #### Supporting sources - [IT Reseller](https://www.itrportal.com/articles/2025/12/11/2026-predictions-evidencing-compliance-in-a-data-led-regulatory-world/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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AI should support compliance teams rather than work against them. #### Key points - Consumer Duty is raising expectations for evidential customer outcomes. - Predictive AI and GenAI can be combined to close compliance gaps. - AI should support compliance teams rather than work against them. - The approach can help protect reputation and create incremental business value. Following the FCA’s renewed emphasis on Consumer Duty, TCC’s CEO, Joe Norburn, has examined how firms can meet rising expectations by combining predictive AI with GenAI to close compliance gaps and deliver evidential customer outcomes. By deploying AI that supports compliance teams, rather than working against them, firms can meet regulatory expectations, safeguard their reputation and provide a foundation for incremental business value. #### Supporting sources - [Using predictive AI to drive value from financial compliance](https://alwaysfinance.co.uk/2025/11/06/leveraging-predictive-ai-to-drive-value-from-financial-compliance/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Data, technology, communications and resourcing plans need attention now. #### Key points - Approximately 40% of the FLA convention agenda focused on the forthcoming FCA-led redress scheme. - HMT, legal representatives, compliance consultants and consumer groups brought different concerns to the discussion. - The FCA’s message was that the scheme must be delivered swiftly, with little scope for deferral. - Firms should prepare data, technology, resources and communications before the final scheme is announced. Garry Evans, TCC Group’s Chief Commercial and Product Officer, reflects on the recent FLA Annual Motor Finance Convention. > The key takeaway from the FLA Annual Motor Finance Convention is clear: If your plan was to wait for the final guidance from the FCA before starting your preparation for the redress scheme, you will be too late, and the FCA will not be happy. The recent motor finance industry conference left no doubt about the main issue on everyone’s mind: the forthcoming FCA-led redress scheme. With approximately 40% of the agenda dedicated to this single topic, the scheme is now the defining challenge and opportunity for motor finance providers in the year ahead. #### Diverse stakeholder perspectives The event featured a wide range of voices, each reflecting different priorities within the motor finance landscape. **HM Treasury** emphasised the importance of keeping the scheme as focused and straightforward as possible, while remaining mindful of its impact on the market. **Legal representatives** for automotive finance companies voiced concerns that the draft scheme remained too broad and costly. Many have been working closely with the FCA to ensure tighter parameters. **Compliance consultancy firms** focused on the need to get ready now, ahead of final guidance. Target organisations for the redress scheme must prepare by getting any and all documentation required to identify the eligible population and collating all data likely to be involved in redress calculations. They also suggested that target organisations should invest in tailored technology to handle redress efficiently and at pace, with data security and operational integrity carefully considered. Starting now also helps secure the right team to manage the scheme and expected volumes. Once the scheme is initiated, many firms will be competing for the same resources; the best will be picked up first, and as resource becomes more scarce, the price will rise. **Consumer groups**, as relayed by the FCA, expressed frustration, questioning both the pace of the process and the adequacy of proposed payouts, including an average of £700 seen as too low by some. #### The FCA dispels the misconceptions Some motor finance providers arrived assuming delays were likely, hoping and expecting the FCA might scale back the scheme or push deadlines to late 2026, with talk of potential judicial reviews. The regulator promptly dispelled those misconceptions. The FCA’s message was clear: the scheme must be delivered swiftly and decisively, with very little scope for deferral. As the regulator considers all aspects of the scheme during the consultation period, it has acknowledged the need for balance between fairness, accuracy of payment and practical deliverability. More complex loss-calculation mechanisms were reviewed, yet the need for hard-to-source data would put more pressure on firms and extend the scheme beyond what is acceptable. The FCA is said to be comfortable that available data and the proposed simplified calculation methodology will enable faster, balanced outcomes for customers. If a minority of customers receive payments where a court case might produce a different outcome, that is considered acceptable to prevent all cases needing in-depth court review, which would cost billions and take years to complete. #### What can firms expect to change, and what stays Firms should note several likely points of refinement: - Timelines are unlikely to move much, if at all. Due to previous FCA communications, readiness is expected, and preparations starting after the final scheme is announced will be severely frowned upon. - The overall approach to redress calculation will remain, though tweaks to address obvious anomalies, such as commissioned 0% APR cases, may be made. - The requirement for recorded delivery letters may be removed. - Some firms with transparent dealer to Original Equipment Manufacturer financial services business relationships may be exempt from the “tied financial institution relationship” definition of unfair relationship assessments, if customer communications were clear at the point of sale. #### The real test: how firms deliver redress Motor finance companies’ reputation has already been damaged by the redress scheme, with customer confidence at an all-time low. How firms execute the redress scheme will either recover some lost confidence or make it worse. Ease of opt-in, speed of processing, accuracy of calculations and clarity of communications could influence future customer behaviour. The industry can expect scrutiny. Claims management companies are poised to highlight failings, so proactive, well-designed redress implementation must form the core of any redress strategy. #### Looking ahead: preventing future issues During the FLA conference, it was made clear that compliance and transparency must remain top priorities well beyond the redress process. Once the current scheme is complete, providers will need strong controls to prevent similar issues in future. This presents an opportunity for innovation. Technologies such as Recordsure technology can help motor finance firms and their dealer networks maintain consistent, compliant customer interactions. In turn, this will help them deliver the evidence needed for supervisors, the board and the regulator. #### The FCA redress scheme defines the outlook for 2026 The FCA redress scheme is the number one agenda item for 2026. Motor finance firms that invest now in data preparation, technology set-up and clear communications will be better placed to handle the current regulatory wave and serve customers as the industry evolves. At TCC Group, and specifically with the Momenta brand, there are experienced people with many years delivering solutions to help firms execute the proposed redress scheme effectively and at pace. They are ready to assist with preparations and validate existing plans. The work does not stop there; TCC Group works alongside clients to establish processes and solutions that support long-term compliance. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA: Preparing for the motor finance redress scheme is critical", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/", "name": "FCA: Preparing for the motor finance redress scheme is critical", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-12-10T16:50:31+00:00", "dateModified": "2025-12-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-12-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA: Preparing for the motor finance redress scheme is critical", "datePublished": "2025-12-10T16:50:31+00:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/266f70fb234d446dacdcc9f444a1b573/thumbnail-1024-720e79a25d05277698c41e8398a20179b18696f8285e8b8f97a51ee866942f6b.jpg", "description": "Garry Evans reflects on the FLA convention and explains why motor finance firms should prepare for the FCA redress scheme before final guidance arrives.", "inLanguage": "en-GB", "articleBody": "The FLA convention made clear that waiting for final FCA guidance before preparing for the motor finance redress scheme will leave firms exposed. Data, technology, communications and resourcing plans need attention now.\n\nGarry Evans, TCC Group\u2019s Chief Commercial and Product Officer, reflects on the recent FLA Annual Motor Finance Convention.\n\nThe key takeaway from the FLA Annual Motor Finance Convention is clear: If your plan was to wait for the final guidance from the FCA before starting your preparation for the redress scheme, you will be too late, and the FCA will not be happy.\n\nThe recent motor finance industry conference left no doubt about the main issue on everyone\u2019s mind: the forthcoming FCA-led redress scheme. With approximately 40% of the agenda dedicated to this single topic, the scheme is now the defining challenge and opportunity for motor finance providers in the year ahead.\n\nDiverse stakeholder perspectives\n\nThe event featured a wide range of voices, each reflecting different priorities within the motor finance landscape.\n\nHM Treasury emphasised the importance of keeping the scheme as focused and straightforward as possible, while remaining mindful of its impact on the market.\n\nLegal representatives for automotive finance companies voiced concerns that the draft scheme remained too broad and costly. Many have been working closely with the FCA to ensure tighter parameters.\n\nCompliance consultancy firms focused on the need to get ready now, ahead of final guidance. Target organisations for the redress scheme must prepare by getting any and all documentation required to identify the eligible population and collating all data likely to be involved in redress calculations.\n\nThey also suggested that target organisations should invest in tailored technology to handle redress efficiently and at pace, with data security and operational integrity carefully considered. Starting now also helps secure the right team to manage the scheme and expected volumes. Once the scheme is initiated, many firms will be competing for the same resources; the best will be picked up first, and as resource becomes more scarce, the price will rise.\n\nConsumer groups, as relayed by the FCA, expressed frustration, questioning both the pace of the process and the adequacy of proposed payouts, including an average of \u00a3700 seen as too low by some.\n\nThe FCA dispels the misconceptions\n\nSome motor finance providers arrived assuming delays were likely, hoping and expecting the FCA might scale back the scheme or push deadlines to late 2026, with talk of potential judicial reviews.\n\nThe regulator promptly dispelled those misconceptions. The FCA\u2019s message was clear: the scheme must be delivered swiftly and decisively, with very little scope for deferral. As the regulator considers all aspects of the scheme during the consultation period, it has acknowledged the need for balance between fairness, accuracy of payment and practical deliverability.\n\nMore complex loss-calculation mechanisms were reviewed, yet the need for hard-to-source data would put more pressure on firms and extend the scheme beyond what is acceptable.\n\nThe FCA is said to be comfortable that available data and the proposed simplified calculation methodology will enable faster, balanced outcomes for customers. If a minority of customers receive payments where a court case might produce a different outcome, that is considered acceptable to prevent all cases needing in-depth court review, which would cost billions and take years to complete.\n\nWhat can firms expect to change, and what stays\n\nFirms should note several likely points of refinement:\n\n\u2022 Timelines are unlikely to move much, if at all. Due to previous FCA communications, readiness is expected, and preparations starting after the final scheme is announced will be severely frowned upon.\n\u2022 The overall approach to redress calculation will remain, though tweaks to address obvious anomalies, such as commissioned 0% APR cases, may be made.\n\u2022 The requirement for recorded delivery letters may be removed.\n\u2022 Some firms with transparent dealer to Original Equipment Manufacturer financial services business relationships may be exempt from the \u201ctied financial institution relationship\u201d definition of unfair relationship assessments, if customer communications were clear at the point of sale.\n\nThe real test: how firms deliver redress\n\nMotor finance companies\u2019 reputation has already been damaged by the redress scheme, with customer confidence at an all-time low. How firms execute the redress scheme will either recover some lost confidence or make it worse. Ease of opt-in, speed of processing, accuracy of calculations and clarity of communications could influence future customer behaviour.\n\nThe industry can expect scrutiny. Claims management companies are poised to highlight failings, so proactive, well-designed redress implementation must form the core of any redress strategy.\n\nLooking ahead: preventing future issues\n\nDuring the FLA conference, it was made clear that compliance and transparency must remain top priorities well beyond the redress process. Once the current scheme is complete, providers will need strong controls to prevent similar issues in future.\n\nThis presents an opportunity for innovation. Technologies such as Recordsure technology can help motor finance firms and their dealer networks maintain consistent, compliant customer interactions. In turn, this will help them deliver the evidence needed for supervisors, the board and the regulator.\n\nThe FCA redress scheme defines the outlook for 2026\n\nThe FCA redress scheme is the number one agenda item for 2026. Motor finance firms that invest now in data preparation, technology set-up and clear communications will be better placed to handle the current regulatory wave and serve customers as the industry evolves.\n\nAt TCC Group, and specifically with the Momenta brand, there are experienced people with many years delivering solutions to help firms execute the proposed redress scheme effectively and at pace. They are ready to assist with preparations and validate existing plans. The work does not stop there; TCC Group works alongside clients to establish processes and solutions that support long-term compliance.", "wordCount": 948, "keywords": [ "Insurance", "Lending and Credit", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Redress preparation" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "text": "Garry Evans, TCC Group\u2019s Chief Commercial and Product Officer, reflects on the recent FLA Annual Motor Finance Convention.\n\nThe key takeaway from the FLA Annual Motor Finance Convention is clear: If your plan was to wait for the final guidance from the FCA before starting your preparation for the redress scheme, you will be too late, and the FCA will not be happy.\n\nThe recent motor finance industry conference left no doubt about the main issue on everyone\u2019s mind: the forthcoming FCA-led redress scheme. With approximately 40% of the agenda dedicated to this single topic, the scheme is now the defining challenge and opportunity for motor finance providers in the year ahead." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "Diverse stakeholder perspectives", "text": "The event featured a wide range of voices, each reflecting different priorities within the motor finance landscape.\n\nHM Treasury emphasised the importance of keeping the scheme as focused and straightforward as possible, while remaining mindful of its impact on the market.\n\nLegal representatives for automotive finance companies voiced concerns that the draft scheme remained too broad and costly. Many have been working closely with the FCA to ensure tighter parameters.\n\nCompliance consultancy firms focused on the need to get ready now, ahead of final guidance. Target organisations for the redress scheme must prepare by getting any and all documentation required to identify the eligible population and collating all data likely to be involved in redress calculations.\n\nThey also suggested that target organisations should invest in tailored technology to handle redress efficiently and at pace, with data security and operational integrity carefully considered. Starting now also helps secure the right team to manage the scheme and expected volumes. Once the scheme is initiated, many firms will be competing for the same resources; the best will be picked up first, and as resource becomes more scarce, the price will rise.\n\nConsumer groups, as relayed by the FCA, expressed frustration, questioning both the pace of the process and the adequacy of proposed payouts, including an average of \u00a3700 seen as too low by some." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA dispels the misconceptions", "text": "Some motor finance providers arrived assuming delays were likely, hoping and expecting the FCA might scale back the scheme or push deadlines to late 2026, with talk of potential judicial reviews.\n\nThe regulator promptly dispelled those misconceptions. The FCA\u2019s message was clear: the scheme must be delivered swiftly and decisively, with very little scope for deferral. As the regulator considers all aspects of the scheme during the consultation period, it has acknowledged the need for balance between fairness, accuracy of payment and practical deliverability.\n\nMore complex loss-calculation mechanisms were reviewed, yet the need for hard-to-source data would put more pressure on firms and extend the scheme beyond what is acceptable.\n\nThe FCA is said to be comfortable that available data and the proposed simplified calculation methodology will enable faster, balanced outcomes for customers. If a minority of customers receive payments where a court case might produce a different outcome, that is considered acceptable to prevent all cases needing in-depth court review, which would cost billions and take years to complete." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "What can firms expect to change, and what stays", "text": "Firms should note several likely points of refinement:\n\n\u2022 Timelines are unlikely to move much, if at all. Due to previous FCA communications, readiness is expected, and preparations starting after the final scheme is announced will be severely frowned upon.\n\u2022 The overall approach to redress calculation will remain, though tweaks to address obvious anomalies, such as commissioned 0% APR cases, may be made.\n\u2022 The requirement for recorded delivery letters may be removed.\n\u2022 Some firms with transparent dealer to Original Equipment Manufacturer financial services business relationships may be exempt from the \u201ctied financial institution relationship\u201d definition of unfair relationship assessments, if customer communications were clear at the point of sale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "The real test: how firms deliver redress", "text": "Motor finance companies\u2019 reputation has already been damaged by the redress scheme, with customer confidence at an all-time low. How firms execute the redress scheme will either recover some lost confidence or make it worse. Ease of opt-in, speed of processing, accuracy of calculations and clarity of communications could influence future customer behaviour.\n\nThe industry can expect scrutiny. Claims management companies are poised to highlight failings, so proactive, well-designed redress implementation must form the core of any redress strategy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "Looking ahead: preventing future issues", "text": "During the FLA conference, it was made clear that compliance and transparency must remain top priorities well beyond the redress process. Once the current scheme is complete, providers will need strong controls to prevent similar issues in future.\n\nThis presents an opportunity for innovation. Technologies such as Recordsure technology can help motor finance firms and their dealer networks maintain consistent, compliant customer interactions. In turn, this will help them deliver the evidence needed for supervisors, the board and the regulator." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA redress scheme defines the outlook for 2026", "text": "The FCA redress scheme is the number one agenda item for 2026. Motor finance firms that invest now in data preparation, technology set-up and clear communications will be better placed to handle the current regulatory wave and serve customers as the industry evolves.\n\nAt TCC Group, and specifically with the Momenta brand, there are experienced people with many years delivering solutions to help firms execute the proposed redress scheme effectively and at pace. They are ready to assist with preparations and validate existing plans. The work does not stop there; TCC Group works alongside clients to establish processes and solutions that support long-term compliance." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-preparing-for-the-motor-finance-redress-scheme-is-critical/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What was the key takeaway from the FLA convention?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans says firms that wait for final FCA guidance before preparing for the redress scheme will be too late." } }, { "@type": "Question", "name": "How much of the agenda focused on the redress scheme?", "acceptedAnswer": { "@type": "Answer", "text": "Approximately 40% of the FLA Annual Motor Finance Convention agenda was dedicated to the forthcoming FCA-led redress scheme." } }, { "@type": "Question", "name": "What did the FCA say about delays?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA\u2019s message was that the scheme must be delivered swiftly and decisively, with very little scope for deferral." } }, { "@type": "Question", "name": "What should firms prepare now?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should prepare documentation, eligible population data, redress calculation data, technology, resourcing and communications plans before the final scheme is announced." } } ] } ] } ``` ### Attivo adopts an AI-led solution from TCC and Recordsure to enhance advice compliance - URL: https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/ - Published: 2025-12-03 - Modified: 2026-10-09 **Topic:** Advice compliance Attivo has adopted an AI-led solution from TCC and Recordsure to enhance ongoing advice compliance. The partnership strengthened oversight, reduced review costs and increased planner capacity. #### Key points - Attivo needed scalable advice oversight that could support rapid growth without reducing quality. - The partnership combined TCC’s compliance expertise with Recordsure technology. - Early pilots achieved accuracy in the high 90% range in a controlled compliance environment. - Within a year, Attivo reduced file-checking costs by 40%. - Attivo is on track to review 100% of planning meetings by early 2026. Attivo has partnered with TCC-Recordsure to implement AI technology, elevating its ongoing advice compliance while significantly reducing the costs associated with file reviews. The move supports Attivo’s commitment to delivering consistent, compliant financial advice as it continues to grow. #### Attivo: Creating a strategic partnership with TCC and Recordsure Attivo has long been committed to enhancing both the quality of its financial advice and the effectiveness of its compliance oversight. This, combined with carefully exploring the potential of AI, led to a strategic partnership with TCC and Recordsure, which has delivered transformative results for Attivo. It was of utmost importance to Attivo to find a partner that could support its rapid growth without compromising the quality of its advice. This is where the TCC-Recordsure solution stood out. While Attivo was exploring AI solutions for ongoing advice reviews, the team had almost given up hope, as many options on the market lacked credibility or scalability, which slowed down its AI adoption. That changed when Attivo was introduced to Recordsure technology backed by TCC’s compliance expertise, a solution with the ability to deliver scalable AI-led compliance solutions. Initially seen as a tool to reduce costs, Recordsure technology quickly proved its broader value. It allowed for a consistent, scalable review of all ongoing advice meetings, delivering on Consumer Duty expectations while improving operational efficiency. By combining TCC’s deep compliance knowledge with AI technology, Attivo secured a single partnership that strengthened controls, increased efficiency and raised overall business quality beyond what traditional compliance approaches could achieve. *Ian Plumton, Chief Risk Officer at Attivo: Creating a strategic partnership with TCC and Recordsure* #### Attivo: Evolving through AI journey Attivo’s decision was driven by a focus on delivering proven value rather than chasing AI hype, with the partnership standing out for its clarity, structured approach and strong alignment in a market where many AI solutions lacked substance. Key elements offered by this partnership included: - Detailed business case development with TCC expertise. - Clear commercial alignment. - Defined, measurable use cases. - Strong governance and accountability. These reassurances gave Attivo the confidence to deploy AI effectively. TCC introduced the governance structure Attivo felt was missing elsewhere. With nearly 250 staff, cultural adoption was a challenge, but clear communication and demonstrations of reduced administrative work helped build support. Early pilots achieved accuracy in the high 90% range, proving AI’s value in a controlled, compliant environment. The collaboration delivered immediate, measurable benefits: - Reduced administrative burden. - Improved advice quality and oversight. - Increased planner capacity. - Accelerated operational efficiency. - A scalable, evidence-led Consumer Duty model. *Ian Plumton, Chief Risk Officer at Attivo: Evolving through AI journey* #### Attivo: Key success drivers since implementing Recordsure technology The human-centric measured rollout enabled both immediate gains and long-term transformation. High-accuracy voice capture and transcription tools provided a reliable foundation for automation, building planner trust through minor adjustments and shared best practice. Within a year, Attivo reduced file-checking costs by 40% and achieved significant benefits. With no unsuitable cases and ongoing improvements in advice quality, Attivo is now on track to review 100% of planning meetings by early 2026, a milestone made possible through structured implementation and the scalable technology provided by TCC and Recordsure. *Ian Plumton, Chief Risk Officer at Attivo: Key success drivers since implementing Recordsure technology* #### Attivo: Transforming front office performance Attivo continues to roll out Recordsure technology to all its planners, paving the way for the removal of manual fact-finds and delivering around 30% more planner capacity through accurate meeting capture and intelliflo integration. Continued improvements include: - Manual fact-finds are being replaced. - Planner capacity has increased by approximately 30% through accurate meeting capture and intelliflo integration. - High-quality meeting summaries and transcripts are delivered within 24 hours, reducing handover issues and improving client clarity. - Compliance oversight and complaint handling are enhanced. - AI-driven checks are becoming standard, with some cases escalated for training and competency development. *Ian Plumton, Chief Risk Officer at Attivo: Transforming ‘front office’ performance* #### Attivo: Lessons learned through the strategic partnership What started as a project focused solely on compliance quickly grew into a catalyst for a much broader transformation. Along the way, Attivo learned that success depends on more than just technology. Choosing a partner with aligned commercial incentives proved critical, ensuring that both sides were working toward the same long-term goals. Attivo also discovered that AI’s potential extends far beyond managing risk. When applied in the right way, it can enhance operations, improve commercial performance and deliver better client outcomes. *Ian Plumton, Chief Risk Officer at Attivo: Lessons learned through our strategic partnership* #### AI-led solutions for long-term compliance Attivo is raising the bar for compliance in financial advice by using the combination of TCC’s expert compliance consultancy and Recordsure’s AI technology. This dual approach empowers Attivo to deliver consistent, high-quality service to its clients while streamlining processes and reducing review costs. The Recordsure and TCC teams are experienced in guiding firms on their AI-led compliance journey. They can provide advice and use cases, demonstrate solutions and help firms build a clear business case. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Attivo adopts an AI-led solution from TCC and Recordsure to enhance advice compliance", "item": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage", "url": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/", "name": "Attivo adopts an AI-led solution from TCC and Recordsure to enhance advice compliance", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-12-03T11:11:38+00:00", "dateModified": "2025-12-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-12-03" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Attivo adopts an AI-led solution from TCC and Recordsure to enhance advice compliance", "datePublished": "2025-12-03T11:11:38+00:00", "dateModified": "2026-10-09T04:50:26+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6afa7f813d134b0aa0a65ee5e9596cea/thumbnail-1024-2b9fa3c8287b88d5f0d3d53ed66bfc892c30f3d32381e86792619685c3c9d688.jpg", "description": "Attivo partnered with TCC and Recordsure to strengthen ongoing advice compliance, reduce file review costs and build a scalable Consumer Duty oversight model.", "inLanguage": "en-GB", "articleBody": "Attivo has adopted an AI-led solution from TCC and Recordsure to enhance ongoing advice compliance. The partnership strengthened oversight, reduced review costs and increased planner capacity.\n\nAttivo has partnered with TCC-Recordsure to implement AI technology, elevating its ongoing advice compliance while significantly reducing the costs associated with file reviews. The move supports Attivo\u2019s commitment to delivering consistent, compliant financial advice as it continues to grow.\n\nAttivo: Creating a strategic partnership with TCC and Recordsure\n\nAttivo has long been committed to enhancing both the quality of its financial advice and the effectiveness of its compliance oversight. This, combined with carefully exploring the potential of AI, led to a strategic partnership with TCC and Recordsure, which has delivered transformative results for Attivo.\n\nIt was of utmost importance to Attivo to find a partner that could support its rapid growth without compromising the quality of its advice. This is where the TCC-Recordsure solution stood out.\n\nWhile Attivo was exploring AI solutions for ongoing advice reviews, the team had almost given up hope, as many options on the market lacked credibility or scalability, which slowed down its AI adoption. That changed when Attivo was introduced to Recordsure technology backed by TCC\u2019s compliance expertise, a solution with the ability to deliver scalable AI-led compliance solutions.\n\nInitially seen as a tool to reduce costs, Recordsure technology quickly proved its broader value. It allowed for a consistent, scalable review of all ongoing advice meetings, delivering on Consumer Duty expectations while improving operational efficiency. By combining TCC\u2019s deep compliance knowledge with AI technology, Attivo secured a single partnership that strengthened controls, increased efficiency and raised overall business quality beyond what traditional compliance approaches could achieve.\n\nIan Plumton, Chief Risk Officer at Attivo: Creating a strategic partnership with TCC and Recordsure\n\nAttivo: Evolving through AI journey\n\nAttivo\u2019s decision was driven by a focus on delivering proven value rather than chasing AI hype, with the partnership standing out for its clarity, structured approach and strong alignment in a market where many AI solutions lacked substance.\n\nKey elements offered by this partnership included:\n\n\u2022 Detailed business case development with TCC expertise.\n\u2022 Clear commercial alignment.\n\u2022 Defined, measurable use cases.\n\u2022 Strong governance and accountability.\n\nThese reassurances gave Attivo the confidence to deploy AI effectively. TCC introduced the governance structure Attivo felt was missing elsewhere. With nearly 250 staff, cultural adoption was a challenge, but clear communication and demonstrations of reduced administrative work helped build support. Early pilots achieved accuracy in the high 90% range, proving AI\u2019s value in a controlled, compliant environment.\n\nThe collaboration delivered immediate, measurable benefits:\n\n\u2022 Reduced administrative burden.\n\u2022 Improved advice quality and oversight.\n\u2022 Increased planner capacity.\n\u2022 Accelerated operational efficiency.\n\u2022 A scalable, evidence-led Consumer Duty model.\n\nIan Plumton, Chief Risk Officer at Attivo: Evolving through AI journey\n\nAttivo: Key success drivers since implementing Recordsure technology\n\nThe human-centric measured rollout enabled both immediate gains and long-term transformation. High-accuracy voice capture and transcription tools provided a reliable foundation for automation, building planner trust through minor adjustments and shared best practice.\n\nWithin a year, Attivo reduced file-checking costs by 40% and achieved significant benefits. With no unsuitable cases and ongoing improvements in advice quality, Attivo is now on track to review 100% of planning meetings by early 2026, a milestone made possible through structured implementation and the scalable technology provided by TCC and Recordsure.\n\nIan Plumton, Chief Risk Officer at Attivo: Key success drivers since implementing Recordsure technology\n\nAttivo: Transforming front office performance\n\nAttivo continues to roll out Recordsure technology to all its planners, paving the way for the removal of manual fact-finds and delivering around 30% more planner capacity through accurate meeting capture and intelliflo integration.\n\nContinued improvements include:\n\n\u2022 Manual fact-finds are being replaced.\n\u2022 Planner capacity has increased by approximately 30% through accurate meeting capture and intelliflo integration.\n\u2022 High-quality meeting summaries and transcripts are delivered within 24 hours, reducing handover issues and improving client clarity.\n\u2022 Compliance oversight and complaint handling are enhanced.\n\u2022 AI-driven checks are becoming standard, with some cases escalated for training and competency development.\n\nIan Plumton, Chief Risk Officer at Attivo: Transforming \u2018front office\u2019 performance\n\nAttivo: Lessons learned through the strategic partnership\n\nWhat started as a project focused solely on compliance quickly grew into a catalyst for a much broader transformation. Along the way, Attivo learned that success depends on more than just technology. Choosing a partner with aligned commercial incentives proved critical, ensuring that both sides were working toward the same long-term goals.\n\nAttivo also discovered that AI\u2019s potential extends far beyond managing risk. When applied in the right way, it can enhance operations, improve commercial performance and deliver better client outcomes.\n\nIan Plumton, Chief Risk Officer at Attivo: Lessons learned through our strategic partnership\n\nAI-led solutions for long-term compliance\n\nAttivo is raising the bar for compliance in financial advice by using the combination of TCC\u2019s expert compliance consultancy and Recordsure\u2019s AI technology. This dual approach empowers Attivo to deliver consistent, high-quality service to its clients while streamlining processes and reducing review costs.\n\nThe Recordsure and TCC teams are experienced in guiding firms on their AI-led compliance journey. They can provide advice and use cases, demonstrate solutions and help firms build a clear business case.", "wordCount": 868, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-4" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-5" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-6" }, { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "text": "Attivo has partnered with TCC-Recordsure to implement AI technology, elevating its ongoing advice compliance while significantly reducing the costs associated with file reviews. The move supports Attivo\u2019s commitment to delivering consistent, compliant financial advice as it continues to grow." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo: Creating a strategic partnership with TCC and Recordsure", "text": "Attivo has long been committed to enhancing both the quality of its financial advice and the effectiveness of its compliance oversight. This, combined with carefully exploring the potential of AI, led to a strategic partnership with TCC and Recordsure, which has delivered transformative results for Attivo.\n\nIt was of utmost importance to Attivo to find a partner that could support its rapid growth without compromising the quality of its advice. This is where the TCC-Recordsure solution stood out.\n\nWhile Attivo was exploring AI solutions for ongoing advice reviews, the team had almost given up hope, as many options on the market lacked credibility or scalability, which slowed down its AI adoption. That changed when Attivo was introduced to Recordsure technology backed by TCC\u2019s compliance expertise, a solution with the ability to deliver scalable AI-led compliance solutions.\n\nInitially seen as a tool to reduce costs, Recordsure technology quickly proved its broader value. It allowed for a consistent, scalable review of all ongoing advice meetings, delivering on Consumer Duty expectations while improving operational efficiency. By combining TCC\u2019s deep compliance knowledge with AI technology, Attivo secured a single partnership that strengthened controls, increased efficiency and raised overall business quality beyond what traditional compliance approaches could achieve.\n\nIan Plumton, Chief Risk Officer at Attivo: Creating a strategic partnership with TCC and Recordsure" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo: Evolving through AI journey", "text": "Attivo\u2019s decision was driven by a focus on delivering proven value rather than chasing AI hype, with the partnership standing out for its clarity, structured approach and strong alignment in a market where many AI solutions lacked substance.\n\nKey elements offered by this partnership included:\n\n\u2022 Detailed business case development with TCC expertise.\n\u2022 Clear commercial alignment.\n\u2022 Defined, measurable use cases.\n\u2022 Strong governance and accountability.\n\nThese reassurances gave Attivo the confidence to deploy AI effectively. 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Early pilots achieved accuracy in the high 90% range, proving AI\u2019s value in a controlled, compliant environment.\n\nThe collaboration delivered immediate, measurable benefits:\n\n\u2022 Reduced administrative burden.\n\u2022 Improved advice quality and oversight.\n\u2022 Increased planner capacity.\n\u2022 Accelerated operational efficiency.\n\u2022 A scalable, evidence-led Consumer Duty model.\n\nIan Plumton, Chief Risk Officer at Attivo: Evolving through AI journey" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo: Key success drivers since implementing Recordsure technology", "text": "The human-centric measured rollout enabled both immediate gains and long-term transformation. High-accuracy voice capture and transcription tools provided a reliable foundation for automation, building planner trust through minor adjustments and shared best practice.\n\nWithin a year, Attivo reduced file-checking costs by 40% and achieved significant benefits. With no unsuitable cases and ongoing improvements in advice quality, Attivo is now on track to review 100% of planning meetings by early 2026, a milestone made possible through structured implementation and the scalable technology provided by TCC and Recordsure.\n\nIan Plumton, Chief Risk Officer at Attivo: Key success drivers since implementing Recordsure technology" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo: Transforming front office performance", "text": "Attivo continues to roll out Recordsure technology to all its planners, paving the way for the removal of manual fact-finds and delivering around 30% more planner capacity through accurate meeting capture and intelliflo integration.\n\nContinued improvements include:\n\n\u2022 Manual fact-finds are being replaced.\n\u2022 Planner capacity has increased by approximately 30% through accurate meeting capture and intelliflo integration.\n\u2022 High-quality meeting summaries and transcripts are delivered within 24 hours, reducing handover issues and improving client clarity.\n\u2022 Compliance oversight and complaint handling are enhanced.\n\u2022 AI-driven checks are becoming standard, with some cases escalated for training and competency development.\n\nIan Plumton, Chief Risk Officer at Attivo: Transforming \u2018front office\u2019 performance" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo: Lessons learned through the strategic partnership", "text": "What started as a project focused solely on compliance quickly grew into a catalyst for a much broader transformation. Along the way, Attivo learned that success depends on more than just technology. Choosing a partner with aligned commercial incentives proved critical, ensuring that both sides were working toward the same long-term goals.\n\nAttivo also discovered that AI\u2019s potential extends far beyond managing risk. When applied in the right way, it can enhance operations, improve commercial performance and deliver better client outcomes.\n\nIan Plumton, Chief Risk Officer at Attivo: Lessons learned through our strategic partnership" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "AI-led solutions for long-term compliance", "text": "Attivo is raising the bar for compliance in financial advice by using the combination of TCC\u2019s expert compliance consultancy and Recordsure\u2019s AI technology. This dual approach empowers Attivo to deliver consistent, high-quality service to its clients while streamlining processes and reducing review costs.\n\nThe Recordsure and TCC teams are experienced in guiding firms on their AI-led compliance journey. They can provide advice and use cases, demonstrate solutions and help firms build a clear business case." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/attivo-enhances-advice-compliance-with-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why did Attivo choose TCC and Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Attivo needed a partner that could support rapid growth without compromising advice quality, and the TCC-Recordsure solution combined compliance expertise with scalable technology." } }, { "@type": "Question", "name": "What did the early pilots show?", "acceptedAnswer": { "@type": "Answer", "text": "Early pilots achieved accuracy in the high 90% range, proving AI\u2019s value in a controlled, compliant environment." } }, { "@type": "Question", "name": "What cost result did Attivo achieve?", "acceptedAnswer": { "@type": "Answer", "text": "Within a year, Attivo reduced file-checking costs by 40%." } }, { "@type": "Question", "name": "What meeting review milestone is Attivo targeting?", "acceptedAnswer": { "@type": "Answer", "text": "Attivo is on track to review 100% of planning meetings by early 2026." } } ] } ] } ``` ### Financial wellbeing needs a tailored approach: The FCA’s vision for financial services - URL: https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/ - Published: 2025-12-01 - Modified: 2026-10-09 **Topic:** Financial wellbeing The FCA is encouraging tailored approaches to financial wellbeing, targeted support and better evidence of customer outcomes. Firms need value measures that show how clients are better off. #### Key points - Sarah Pritchard said financial wellbeing goes beyond one-size-fits-all approaches. - The FCA wants tailored support that helps consumers understand options for funding later life. - Budget changes and frozen thresholds are pushing advisers to help clients adapt quickly. - Consumer Duty value measures should show how customers are better off after paying for services. - Data-led oversight remains central to evidencing good customer outcomes. In her recent address to The Investing and Saving Alliance annual conference, the FCA’s Deputy Chief Executive Sarah Pritchard highlighted that [financial wellbeing in the UK “goes beyond one size fits all“](https://www.fca.org.uk/news/speeches/financial-wellbeing-goes-beyond-one-size-fits-all). With shifting demographics, evolving life goals and increasingly complex financial markets, Sarah urged regulators, government policy makers, service providers and consumers to embrace new, more tailored approaches. #### Adapting advice to diverse needs In her speech on 12th November, Sarah Pritchard looked back at the social and living experiences of older generations to reflect on the work still needed to help all generations access services more easily and make the most of their financial futures. She identified the key to unlocking better financial futures: “We recognise that further thought and engagement is needed, but the aim is clear: an industry supporting consumers to fully understand their options for funding later life, receiving timely and appropriate support and advice, with products that deliver positive outcomes, offering fair value.” This fits with the FCA’s strategy to support innovation and growth. The regulator is driving a move for investors to embrace opportunity risk and shift deposit-based cash funds to equity-based investments, seeking to unlock growth and prosperity. For some consumers, this requires a shift in mindset, and the FCA sees targeted support as the change that will encourage the national conversation. The government also made that strategy clear in the [November 2025 Budget statement, the Chancellor Rachel Reeves](https://www.gov.uk/government/speeches/budget-2025-speech) said: “From April 2027 I will reform our ISA system, keeping the full £20,000 allowance while designating £8,000 of it exclusively for investment with over 65s retaining the full cash allowance.” The deepened tax-heavy landscape, with frozen thresholds and higher investment taxes, is also [pushing advisers to help clients adapt quickly](https://www.ftadviser.com/budget/2025/12/1/minimising-budget-tax-drag-needs-swift-action-from-advisers/). In her speech for TISA, Pritchard called on firms to play their part in re-education. She challenged firms not to fall back on standard descriptions of investment risk that have become mainstays of risk conversations, suitability reports and financial promotions, such as “capital at risk”, but to promote the benefits of investing. Firms also need to think about customer vulnerabilities and how they engage with customers to ensure that customers with vulnerabilities receive good outcomes. Pritchard’s messaging is focused on consumers who may be new to investing and whose first step into financial services may be through targeted support, which firms may or may not be keen to embrace. Firms should also challenge themselves on whether they are fully taking up their role in enabling existing customers to meet their financial objectives. #### Continued focus on Consumer Duty value measures Firms should take steps to evidence how customers are better off as a result of paying for services through a range of criteria. TCC and Recordsure frequently talk to firms that are struggling to identify their value measures and demonstrate that engaging the firm produces good results, either through quantitative measures or customer experience. One key criterion is whether a firm is enabling clients to be invested. For example, do firms know what proportion of customer assets are held in cash and why? Other criteria could include providing holistic solutions across all customers’ financial needs. Firms need to consider whether protection and borrowing needs are being met alongside investment needs. The FCA has been clear about its “Show me, don’t tell me” strategy and continues to emphasise its focus on data-led oversight. Firms are expected to understand the importance of delivering and evidencing good customer outcomes, and to be clear about their approach to [evidencing compliance in a data-led regulatory world](https://tcc.group/blog/2025/11/07/data-led-regulatory-worl/). #### Supporting sources - [FCA speech: financial wellbeing goes beyond one size fits all](https://www.fca.org.uk/news/speeches/financial-wellbeing-goes-beyond-one-size-fits-all) - [November 2025 Budget statement](https://www.gov.uk/government/speeches/budget-2025-speech) - [FT Adviser](https://www.ftadviser.com/budget/2025/12/1/minimising-budget-tax-drag-needs-swift-action-from-advisers/) - [TCC: evidencing compliance in a data-led regulatory world](https://tcc.group/blog/2025/11/07/data-led-regulatory-worl/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Financial wellbeing needs a tailored approach: The FCA\u2019s vision for financial services", "item": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#webpage", "url": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/", "name": "Financial wellbeing needs a tailored approach: The FCA\u2019s vision for financial services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-12-01T15:01:53+00:00", "dateModified": "2025-12-01T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-12-01" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Financial wellbeing needs a tailored approach: The FCA\u2019s vision for financial services", "datePublished": "2025-12-01T15:01:53+00:00", "dateModified": "2026-10-09T04:50:27+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a0c2b9cb6c3e4e3888ebc445918a07e8/thumbnail-1024-f5bdf2003bf34f65c5da314faf7c7e60babe62d288ec3efae633eba85ed176dc.jpg", "description": "Sarah Pritchard\u2019s TISA speech highlights why financial wellbeing needs tailored support, stronger evidence of value and data-led oversight from financial advice firms.", "inLanguage": "en-GB", "articleBody": "The FCA is encouraging tailored approaches to financial wellbeing, targeted support and better evidence of customer outcomes. Firms need value measures that show how clients are better off.\n\nIn her recent address to The Investing and Saving Alliance annual conference, the FCA\u2019s Deputy Chief Executive Sarah Pritchard highlighted that financial wellbeing in the UK \u201cgoes beyond one size fits all\u201c.\n\nWith shifting demographics, evolving life goals and increasingly complex financial markets, Sarah urged regulators, government policy makers, service providers and consumers to embrace new, more tailored approaches.\n\nAdapting advice to diverse needs\n\nIn her speech on 12th November, Sarah Pritchard looked back at the social and living experiences of older generations to reflect on the work still needed to help all generations access services more easily and make the most of their financial futures.\n\nShe identified the key to unlocking better financial futures: \u201cWe recognise that further thought and engagement is needed, but the aim is clear: an industry supporting consumers to fully understand their options for funding later life, receiving timely and appropriate support and advice, with products that deliver positive outcomes, offering fair value.\u201d\n\nThis fits with the FCA\u2019s strategy to support innovation and growth. The regulator is driving a move for investors to embrace opportunity risk and shift deposit-based cash funds to equity-based investments, seeking to unlock growth and prosperity. For some consumers, this requires a shift in mindset, and the FCA sees targeted support as the change that will encourage the national conversation.\n\nThe government also made that strategy clear in the November 2025 Budget statement, the Chancellor Rachel Reeves said: \u201cFrom April 2027 I will reform our ISA system, keeping the full \u00a320,000 allowance while designating \u00a38,000 of it exclusively for investment with over 65s retaining the full cash allowance.\u201d The deepened tax-heavy landscape, with frozen thresholds and higher investment taxes, is also pushing advisers to help clients adapt quickly.\n\nIn her speech for TISA, Pritchard called on firms to play their part in re-education. She challenged firms not to fall back on standard descriptions of investment risk that have become mainstays of risk conversations, suitability reports and financial promotions, such as \u201ccapital at risk\u201d, but to promote the benefits of investing.\n\nFirms also need to think about customer vulnerabilities and how they engage with customers to ensure that customers with vulnerabilities receive good outcomes. Pritchard\u2019s messaging is focused on consumers who may be new to investing and whose first step into financial services may be through targeted support, which firms may or may not be keen to embrace. Firms should also challenge themselves on whether they are fully taking up their role in enabling existing customers to meet their financial objectives.\n\nContinued focus on Consumer Duty value measures\n\nFirms should take steps to evidence how customers are better off as a result of paying for services through a range of criteria. TCC and Recordsure frequently talk to firms that are struggling to identify their value measures and demonstrate that engaging the firm produces good results, either through quantitative measures or customer experience.\n\nOne key criterion is whether a firm is enabling clients to be invested. For example, do firms know what proportion of customer assets are held in cash and why?\n\nOther criteria could include providing holistic solutions across all customers\u2019 financial needs. Firms need to consider whether protection and borrowing needs are being met alongside investment needs.\n\nThe FCA has been clear about its \u201cShow me, don\u2019t tell me\u201d strategy and continues to emphasise its focus on data-led oversight. 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The regulator is driving a move for investors to embrace opportunity risk and shift deposit-based cash funds to equity-based investments, seeking to unlock growth and prosperity. For some consumers, this requires a shift in mindset, and the FCA sees targeted support as the change that will encourage the national conversation.\n\nThe government also made that strategy clear in the November 2025 Budget statement, the Chancellor Rachel Reeves said: \u201cFrom April 2027 I will reform our ISA system, keeping the full \u00a320,000 allowance while designating \u00a38,000 of it exclusively for investment with over 65s retaining the full cash allowance.\u201d The deepened tax-heavy landscape, with frozen thresholds and higher investment taxes, is also pushing advisers to help clients adapt quickly.\n\nIn her speech for TISA, Pritchard called on firms to play their part in re-education. She challenged firms not to fall back on standard descriptions of investment risk that have become mainstays of risk conversations, suitability reports and financial promotions, such as \u201ccapital at risk\u201d, but to promote the benefits of investing.\n\nFirms also need to think about customer vulnerabilities and how they engage with customers to ensure that customers with vulnerabilities receive good outcomes. Pritchard\u2019s messaging is focused on consumers who may be new to investing and whose first step into financial services may be through targeted support, which firms may or may not be keen to embrace. 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TCC and Recordsure frequently talk to firms that are struggling to identify their value measures and demonstrate that engaging the firm produces good results, either through quantitative measures or customer experience.\n\nOne key criterion is whether a firm is enabling clients to be invested. For example, do firms know what proportion of customer assets are held in cash and why?\n\nOther criteria could include providing holistic solutions across all customers\u2019 financial needs. Firms need to consider whether protection and borrowing needs are being met alongside investment needs.\n\nThe FCA has been clear about its \u201cShow me, don\u2019t tell me\u201d strategy and continues to emphasise its focus on data-led oversight. Firms are expected to understand the importance of delivering and evidencing good customer outcomes, and to be clear about their approach to evidencing compliance in a data-led regulatory world." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/financial-wellbeing-needs-a-tailored-approach-the-fcas-vision-for-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did Sarah Pritchard say about financial wellbeing?", "acceptedAnswer": { "@type": "Answer", "text": "She highlighted that financial wellbeing goes beyond one-size-fits-all and called for more tailored approaches." } }, { "@type": "Question", "name": "What change does the FCA want to encourage in investment support?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA wants targeted support that helps consumers understand options, receive timely advice and access products that deliver positive outcomes and fair value." } }, { "@type": "Question", "name": "How can firms evidence Consumer Duty value?", "acceptedAnswer": { "@type": "Answer", "text": "They can define value measures that show how customers are better off, including quantitative measures, customer experience and whether clients are enabled to invest." } }, { "@type": "Question", "name": "What does data-led oversight require from firms?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to evidence good customer outcomes and be clear about their approach to compliance in a data-led regulatory environment." } } ] } ] } ``` ### Driving innovation and trust: Recordsure becomes a Finance & Leasing Association member - URL: https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/ - Published: 2025-11-17 - Modified: 2026-10-09 **Topic:** FLA membership TCC Group has become a member of the Finance & Leasing Association, the UK trade body for asset finance, consumer finance and motor finance. The membership supports governance, compliance, remediation and technology work across regulated finance. #### Key points - TCC Group, which includes TCC, Momenta and Recordsure, is now an FLA member. - The membership supports participation in the UK finance industry’s research, training and regulatory insight. - TCC Group links the announcement to managed motor finance remediation programmes. - End-to-end remediation runs from data analysis through redress payment and reporting. **We’re thrilled to announce that**[**TCC Group**](https://tcc.group/tcc-group/)**– which includes TCC, Momenta, and Recordsure – is now a proud member of the Finance & Leasing Association (FLA), the UK’s leading trade body for the asset finance, consumer finance, and motor finance sectors.** This achievement is a significant milestone on our journey to champion excellence in governance, compliance, risk management, and technological innovation for the UK’s regulated finance sector. The FLA membership underscores TCC Group’s commitment to proactive participation and responsible leadership within the financial ecosystem. Joe Norburn, CEO for TCC Group comments: “The FLA membership affirms our dedication to the UK finance industry ecosystem. We uphold the highest standards, codes of practice and evolving industry expectations set by the FLA. By embracing this role, we ensure our clients and partners continue to receive trusted, compliant, and forward-thinking solutions that reflect the very best in our industry.” Our clients and partners can expect tangible benefits from this membership. Gaining privileged access to the FLA’s research, events, training, and regulatory insights empowers us to offer more informed and timely guidance. It also enhances our ability to collaborate with leading industry peers, allowing you to stay ahead of emerging trends and risks. Most importantly, as the regulatory landscape evolves, our strengthened position means we can help your business adapt, thrive, and remain resilient for the future. #### Solving the industry problems: End-to-end remediation solutions for motor finance firms TCC Group designs, resources, and delivers high-quality, fully managed remediation programmes. By combining our operational expertise with intelligent technology, we help firms meet regulatory goals, maintain customer trust, and achieve outcomes efficiently and at scale. We cover the entire customer journey – from initial data analysis, tracing and customer contact to redress calculation, payment and regulatory reporting. Our flexible delivery models can be tailored to fit the client’s operational structure and capacity. #### Customer outcomes – right first time, every time - 30 years, 1000s of programmes, never re-remediated - Fully managed service - 30,000+ specialists (onshore and offshore experts) - Flexible commercial and delivery models - Trusted tech-enabled excellence at scale #### Cost-saving efficiencies with proven technology - 1 million live motor finance complaints already loaded - Instant scope determination and liability exposure (includes redress) - Automation removes manual effort across the end-to-end process - Comprehensive MI for complete control - Off-the-shelf systems integration We work closely with our clients to develop strong partnerships, helping them navigate regulatory complexities, and deliver quality outcomes on time and on budget. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Driving innovation and trust: Recordsure becomes a Finance & Leasing Association member", "item": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/", "name": "Driving innovation and trust: Recordsure becomes a Finance & Leasing Association member", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-11-17T13:49:36+00:00", "dateModified": "2025-11-19T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-11-19" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Driving innovation and trust: Recordsure becomes a Finance & Leasing Association member", "datePublished": "2025-11-17T13:49:36+00:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a7cc6371ca10438aaa7da7202fdadfce/thumbnail-1024-9381857da8b13cbbe209281b56ced8b86df5d457b33324b2e2fe69af693848dd.jpg", "description": "TCC Group, including TCC, Momenta and Recordsure, has joined the Finance & Leasing Association, supporting its work with regulated finance firms.", "inLanguage": "en-GB", "articleBody": "TCC Group has become a member of the Finance & Leasing Association, the UK trade body for asset finance, consumer finance and motor finance. The membership supports governance, compliance, remediation and technology work across regulated finance.\n\nWe\u2019re thrilled to announce thatTCC Group\u2013 which includes TCC, Momenta, and Recordsure \u2013 is now a proud member of the Finance & Leasing Association (FLA), the UK\u2019s leading trade body for the asset finance, consumer finance, and motor finance sectors.\n\nThis achievement is a significant milestone on our journey to champion excellence in governance, compliance, risk management, and technological innovation for the UK\u2019s regulated finance sector.\n\nThe FLA membership underscores TCC Group\u2019s commitment to proactive participation and responsible leadership within the financial ecosystem.\n\nJoe Norburn, CEO for TCC Group comments:\n\n\u201cThe FLA membership affirms our dedication to the UK finance industry ecosystem. We uphold the highest standards, codes of practice and evolving industry expectations set by the FLA. By embracing this role, we ensure our clients and partners continue to receive trusted, compliant, and forward-thinking solutions that reflect the very best in our industry.\u201d\n\nOur clients and partners can expect tangible benefits from this membership. Gaining privileged access to the FLA\u2019s research, events, training, and regulatory insights empowers us to offer more informed and timely guidance. It also enhances our ability to collaborate with leading industry peers, allowing you to stay ahead of emerging trends and risks. Most importantly, as the regulatory landscape evolves, our strengthened position means we can help your business adapt, thrive, and remain resilient for the future.\n\nSolving the industry problems: End-to-end remediation solutions for motor finance firms\n\nTCC Group designs, resources, and delivers high-quality, fully managed remediation programmes. By combining our operational expertise with intelligent technology, we help firms meet regulatory goals, maintain customer trust, and achieve outcomes efficiently and at scale.\n\nWe cover the entire customer journey \u2013 from initial data analysis, tracing and customer contact to redress calculation, payment and regulatory reporting. Our flexible delivery models can be tailored to fit the client\u2019s operational structure and capacity.\n\nCustomer outcomes \u2013 right first time, every time\n\n\u2022 30 years, 1000s of programmes, never re-remediated\n\u2022 Fully managed service\n\u2022 30,000+ specialists (onshore and offshore experts)\n\u2022 Flexible commercial and delivery models\n\u2022 Trusted tech-enabled excellence at scale\n\nCost-saving efficiencies with proven technology\n\n\u2022 1 million live motor finance complaints already loaded\n\u2022 Instant scope determination and liability exposure (includes redress)\n\u2022 Automation removes manual effort across the end-to-end process\n\u2022 Comprehensive MI for complete control\n\u2022 Off-the-shelf systems integration\n\nWe work closely with our clients to develop strong partnerships, helping them navigate regulatory complexities, and deliver quality outcomes on time and on budget.", "wordCount": 445, "keywords": [ "Lending and Credit", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FLA membership" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "inLanguage": "en-GB", "text": "We\u2019re thrilled to announce thatTCC Group\u2013 which includes TCC, Momenta, and Recordsure \u2013 is now a proud member of the Finance & Leasing Association (FLA), the UK\u2019s leading trade body for the asset finance, consumer finance, and motor finance sectors.\n\nThis achievement is a significant milestone on our journey to champion excellence in governance, compliance, risk management, and technological innovation for the UK\u2019s regulated finance sector.\n\nThe FLA membership underscores TCC Group\u2019s commitment to proactive participation and responsible leadership within the financial ecosystem.\n\nJoe Norburn, CEO for TCC Group comments:\n\n\u201cThe FLA membership affirms our dedication to the UK finance industry ecosystem. We uphold the highest standards, codes of practice and evolving industry expectations set by the FLA. By embracing this role, we ensure our clients and partners continue to receive trusted, compliant, and forward-thinking solutions that reflect the very best in our industry.\u201d\n\nOur clients and partners can expect tangible benefits from this membership. Gaining privileged access to the FLA\u2019s research, events, training, and regulatory insights empowers us to offer more informed and timely guidance. It also enhances our ability to collaborate with leading industry peers, allowing you to stay ahead of emerging trends and risks. Most importantly, as the regulatory landscape evolves, our strengthened position means we can help your business adapt, thrive, and remain resilient for the future." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "inLanguage": "en-GB", "headline": "Solving the industry problems: End-to-end remediation solutions for motor finance firms", "text": "TCC Group designs, resources, and delivers high-quality, fully managed remediation programmes. By combining our operational expertise with intelligent technology, we help firms meet regulatory goals, maintain customer trust, and achieve outcomes efficiently and at scale.\n\nWe cover the entire customer journey \u2013 from initial data analysis, tracing and customer contact to redress calculation, payment and regulatory reporting. Our flexible delivery models can be tailored to fit the client\u2019s operational structure and capacity." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "inLanguage": "en-GB", "headline": "Customer outcomes \u2013 right first time, every time", "text": "\u2022 30 years, 1000s of programmes, never re-remediated\n\u2022 Fully managed service\n\u2022 30,000+ specialists (onshore and offshore experts)\n\u2022 Flexible commercial and delivery models\n\u2022 Trusted tech-enabled excellence at scale" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "inLanguage": "en-GB", "headline": "Cost-saving efficiencies with proven technology", "text": "\u2022 1 million live motor finance complaints already loaded\n\u2022 Instant scope determination and liability exposure (includes redress)\n\u2022 Automation removes manual effort across the end-to-end process\n\u2022 Comprehensive MI for complete control\n\u2022 Off-the-shelf systems integration\n\nWe work closely with our clients to develop strong partnerships, helping them navigate regulatory complexities, and deliver quality outcomes on time and on budget." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-innovation-and-trust-recordsure-becomes-a-finance-leasing-association-member/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who has joined the Finance & Leasing Association?", "acceptedAnswer": { "@type": "Answer", "text": "TCC Group, which includes TCC, Momenta and Recordsure, has become an FLA member." } }, { "@type": "Question", "name": "Which sectors does the FLA represent?", "acceptedAnswer": { "@type": "Answer", "text": "The FLA is described as the UK trade body for asset finance, consumer finance and motor finance." } }, { "@type": "Question", "name": "What remediation support does TCC Group describe?", "acceptedAnswer": { "@type": "Answer", "text": "It describes fully managed programmes covering data analysis, tracing, customer contact, redress calculation, payment and regulatory reporting." } } ] } ] } ``` ### Motor Finance Compensation Scheme consultation extended but preparation remains critical - URL: https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/ - Published: 2025-11-13 - Modified: 2026-10-09 **Topic:** Motor finance redress The FCA has extended the Motor Finance Compensation Scheme consultation, but firms still need to maintain momentum. Preparation requires scope assessment, remediation design, governance and a balance of people and automation. #### Key points - The FCA extended the Motor Finance Compensation Scheme consultation deadline to 12 December 2025. - Final rules are expected in February or March 2026, so firms still need to prepare. - Firms need clear scope reviews, remediation processes and governance structures. - People and automation both matter for redress calculations, communications and complex-case assurance. The FCA has announced an update on the Motor Finance Compensation Scheme consultation, confirming that the consultation period has been extended. Originally due to close on 18 November, the new deadline is now 12 December 2025. The regulator also expects to publish final rules in February or March 2026, when the scheme will formally begin. This update offers firms a little more time but not a pause. In their [statement](https://www.fca.org.uk/news/statements/motor-finance-compensation-scheme-consultation-progress-and-timing), the FCA made it clear: “We are clear, however, that complaints cannot be paused indefinitely. It is therefore important, in particular for lenders, to maintain the pace so we can draw a line under this issue and bring certainty to their customers, the market and investors. This will ensure a trusted motor finance sector can continue to serve millions of families every year.” That message underlines a key point: momentum must not slow. Firms should continue their operational planning, data assessments and governance preparations to ensure they are ready once the scheme goes live. #### Key changes and their implications The FCA has already clarified which agreements are in scope, how redress should be calculated, and the expected delivery timelines. Governance and transparency remain central, the regulator has reinforced that strong oversight is just as vital as accurate financial calculations. Firms can no longer rely on broad frameworks; they must establish clear, actionable procedures to ensure consistency, accuracy and full compliance. Many will need to address incomplete historical data, fragmented workflows and gaps in cross-team collaboration, turning these operational challenges into opportunities to strengthen internal resilience. #### Turning compliance into strategic advantage The FCA’s guidance goes beyond regulatory compliance, it presents a strategic opportunity. Firms that act early and take a structured, insight-led approach can embed a culture of compliance and fairness, improving both customer outcomes and regulatory confidence. Those who do will be ready for the redress scheme but also enhance their standing in the market. #### To prepare effectively, firms should focus on three priorities 1. Identify agreements in scope – review all regulated motor finance agreements to confirm potential eligibility for redress. 2. Design effective remediation processes – balance operational efficiency with accurate calculations and delivery. 3. Implement strong governance and oversight – define clear roles, accountability and transparent reporting structures. #### The balance of people and technology The introduction of process automation will play a crucial role in managing scale from redress calculations to customer communications. Yet it must be noted that human expertise remains essential for complex cases and quality assurance. Firms that integrate both are set to deliver fair, efficient and consistent outcomes. Building internal capability is equally important. This means upskilling teams – in some cases increasing teams, strengthening quality assurance, and implementing scenario planning to anticipate challenges. Those who invest early will be best positioned to deliver redress accurately and at scale. #### What’s next for motor finance firms The FCA’s extension provides an opportunity not a reason to delay. As the regulator emphasised, complaints cannot remain paused indefinitely, and maintaining pace is essential to restore confidence in the motor finance sector. TCC Group is helping firms build the operational capability, expertise and governance structures required to meet the FCA’s expectations and deliver redress effectively. Now is the time to stay proactive and ready. #### Supporting sources - [FCA motor finance compensation scheme statement](https://www.fca.org.uk/news/statements/motor-finance-compensation-scheme-consultation-progress-and-timing) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Motor Finance Compensation Scheme consultation extended but preparation remains critical", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/", "name": "Motor Finance Compensation Scheme consultation extended but preparation remains critical", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-11-13T10:51:29+00:00", "dateModified": "2025-11-14T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-11-14" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Motor Finance Compensation Scheme consultation extended but preparation remains critical", "datePublished": "2025-11-13T10:51:29+00:00", "dateModified": "2026-10-09T04:50:16+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/312e4f67974444e2bd716baf4a50fb36/thumbnail-1024-436a13cd01e50d9db3db8f54d43a0e4cd5f32b7719805e25b6bd8338bb913cd3.jpg", "description": "Motor Finance Compensation Scheme consultation extended but preparation remains critical - find out how Recordsure can help firms.", "inLanguage": "en-GB", "articleBody": "The FCA has extended the Motor Finance Compensation Scheme consultation, but firms still need to maintain momentum. Preparation requires scope assessment, remediation design, governance and a balance of people and automation.\n\nThe FCA has announced an update on the Motor Finance Compensation Scheme consultation, confirming that the consultation period has been extended. Originally due to close on 18 November, the new deadline is now 12 December 2025.\n\nThe regulator also expects to publish final rules in February or March 2026, when the scheme will formally begin. This update offers firms a little more time but not a pause.\n\nIn their statement, the FCA made it clear:\n\n\u201cWe are clear, however, that complaints cannot be paused indefinitely. It is therefore important, in particular for lenders, to maintain the pace so we can draw a line under this issue and bring certainty to their customers, the market and investors. This will ensure a trusted motor finance sector can continue to serve millions of families every year.\u201d\n\nThat message underlines a key point: momentum must not slow. Firms should continue their operational planning, data assessments and governance preparations to ensure they are ready once the scheme goes live.\n\nKey changes and their implications\n\nThe FCA has already clarified which agreements are in scope, how redress should be calculated, and the expected delivery timelines. Governance and transparency remain central, the regulator has reinforced that strong oversight is just as vital as accurate financial calculations.\n\nFirms can no longer rely on broad frameworks; they must establish clear, actionable procedures to ensure consistency, accuracy and full compliance. Many will need to address incomplete historical data, fragmented workflows and gaps in cross-team collaboration, turning these operational challenges into opportunities to strengthen internal resilience.\n\nTurning compliance into strategic advantage\n\nThe FCA\u2019s guidance goes beyond regulatory compliance, it presents a strategic opportunity. Firms that act early and take a structured, insight-led approach can embed a culture of compliance and fairness, improving both customer outcomes and regulatory confidence. Those who do will be ready for the redress scheme but also enhance their standing in the market.\n\nTo prepare effectively, firms should focus on three priorities\n\n1. Identify agreements in scope \u2013 review all regulated motor finance agreements to confirm potential eligibility for redress.\n2. Design effective remediation processes \u2013 balance operational efficiency with accurate calculations and delivery.\n3. Implement strong governance and oversight \u2013 define clear roles, accountability and transparent reporting structures.\n\nThe balance of people and technology\n\nThe introduction of process automation will play a crucial role in managing scale from redress calculations to customer communications. Yet it must be noted that human expertise remains essential for complex cases and quality assurance. Firms that integrate both are set to deliver fair, efficient and consistent outcomes.\n\nBuilding internal capability is equally important. This means upskilling teams \u2013 in some cases increasing teams, strengthening quality assurance, and implementing scenario planning to anticipate challenges. Those who invest early will be best positioned to deliver redress accurately and at scale.\n\nWhat\u2019s next for motor finance firms\n\nThe FCA\u2019s extension provides an opportunity not a reason to delay. As the regulator emphasised, complaints cannot remain paused indefinitely, and maintaining pace is essential to restore confidence in the motor finance sector.\n\nTCC Group is helping firms build the operational capability, expertise and governance structures required to meet the FCA\u2019s expectations and deliver redress effectively.\n\nNow is the time to stay proactive and ready.", "wordCount": 568, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Motor finance redress" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA motor finance compensation scheme statement", "url": "https://www.fca.org.uk/news/statements/motor-finance-compensation-scheme-consultation-progress-and-timing" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has announced an update on the Motor Finance Compensation Scheme consultation, confirming that the consultation period has been extended. Originally due to close on 18 November, the new deadline is now 12 December 2025.\n\nThe regulator also expects to publish final rules in February or March 2026, when the scheme will formally begin. This update offers firms a little more time but not a pause.\n\nIn their statement, the FCA made it clear:\n\n\u201cWe are clear, however, that complaints cannot be paused indefinitely. It is therefore important, in particular for lenders, to maintain the pace so we can draw a line under this issue and bring certainty to their customers, the market and investors. This will ensure a trusted motor finance sector can continue to serve millions of families every year.\u201d\n\nThat message underlines a key point: momentum must not slow. Firms should continue their operational planning, data assessments and governance preparations to ensure they are ready once the scheme goes live." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "headline": "Key changes and their implications", "text": "The FCA has already clarified which agreements are in scope, how redress should be calculated, and the expected delivery timelines. Governance and transparency remain central, the regulator has reinforced that strong oversight is just as vital as accurate financial calculations.\n\nFirms can no longer rely on broad frameworks; they must establish clear, actionable procedures to ensure consistency, accuracy and full compliance. Many will need to address incomplete historical data, fragmented workflows and gaps in cross-team collaboration, turning these operational challenges into opportunities to strengthen internal resilience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "headline": "Turning compliance into strategic advantage", "text": "The FCA\u2019s guidance goes beyond regulatory compliance, it presents a strategic opportunity. Firms that act early and take a structured, insight-led approach can embed a culture of compliance and fairness, improving both customer outcomes and regulatory confidence. Those who do will be ready for the redress scheme but also enhance their standing in the market." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "headline": "To prepare effectively, firms should focus on three priorities", "text": "1. Identify agreements in scope \u2013 review all regulated motor finance agreements to confirm potential eligibility for redress.\n2. Design effective remediation processes \u2013 balance operational efficiency with accurate calculations and delivery.\n3. Implement strong governance and oversight \u2013 define clear roles, accountability and transparent reporting structures." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "headline": "The balance of people and technology", "text": "The introduction of process automation will play a crucial role in managing scale from redress calculations to customer communications. Yet it must be noted that human expertise remains essential for complex cases and quality assurance. Firms that integrate both are set to deliver fair, efficient and consistent outcomes.\n\nBuilding internal capability is equally important. This means upskilling teams \u2013 in some cases increasing teams, strengthening quality assurance, and implementing scenario planning to anticipate challenges. Those who invest early will be best positioned to deliver redress accurately and at scale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s next for motor finance firms", "text": "The FCA\u2019s extension provides an opportunity not a reason to delay. As the regulator emphasised, complaints cannot remain paused indefinitely, and maintaining pace is essential to restore confidence in the motor finance sector.\n\nTCC Group is helping firms build the operational capability, expertise and governance structures required to meet the FCA\u2019s expectations and deliver redress effectively.\n\nNow is the time to stay proactive and ready." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-compensation-scheme-consultation-extended-but-preparation-remains-critical/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed in the FCA consultation timeline?", "acceptedAnswer": { "@type": "Answer", "text": "The consultation deadline moved from 18 November to 12 December 2025." } }, { "@type": "Question", "name": "When are final rules expected?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects to publish final rules in February or March 2026." } }, { "@type": "Question", "name": "What should firms focus on?", "acceptedAnswer": { "@type": "Answer", "text": "They should identify in-scope agreements, design remediation processes and implement governance and oversight." } } ] } ] } ``` ### Evidencing compliance in a data-led regulatory world - URL: https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/ - Published: 2025-11-10 - Modified: 2026-10-09 **Topic:** Evidence-led compliance FCA supervision is becoming more evidence-led and data-driven under Consumer Duty. Webinar poll results show confidence in outcome testing, but also gaps in recording, documentation and evidence across customer journeys. #### Key points - Firms face mixed messages on regulatory burden but continued evidence requests and data-led supervision. - Poll results show many firms expect Consumer Duty standards and evidence obligations to remain significant. - Evidence gaps include inconsistent records, missing audit trails and incomplete documentation. - Predictive AI can help firms move from low-volume manual sampling towards population-level insight. - Evidential readiness is becoming an operational capability, not only a regulatory response. The regulatory landscape for financial services firms continues to evolve. Political pressure to promote growth is increasing, yet firms must still demonstrate their full commitment to the FCA’s [Consumer Duty](https://tcc.group/advisory-services/consumer-duty-support/). At the same time, they are expected to deliver good customer outcomes through outcomes-based regulation shaped by shifting expectations, new supervisory approaches and a growing emphasis on data-led oversight. On one hand, firms still hear messages about easing regulatory burdens and reducing unnecessary reporting. On the other, they are experiencing a clear rise in targeted evidence requests and an FCA that expects them to be ready at any moment to demonstrate how they are consistently delivering, measuring and monitoring good consumer outcomes on an ongoing basis. This topic formed the backdrop to our recent webinar on evidencing compliance, where the theme that emerged above all others was the maturing regulatory model, shifting to evidence based and data-driven insights as part of the regulator’s rebalancing risk for growth exercise. #### Mixed signals but a clear direction Throughout the webinar, we ran three polls. The first revealed the mood across the industry. Despite recent political messaging, when asked *“In the changing regulatory environment, how are you feeling about the evidence and reporting obligation?”* the largest proportion of participants (42%) said they believed the regulatory environment was unlikely to change significantly in the near term. A further 25% expected Consumer Duty to continue increasing the burden, suggesting that many in the industry feel the higher standards introduced by the Consumer Duty are here to stay. A smaller, but still important, group (8%) expressed uncertainty about what lies ahead. While the messages from the FCA may sometimes appear softened, the substance of activity tells a different story. The regulator is continuing to push forward with an outcomes-focused, data-first, evidence-driven model of supervision, using tools such as the S165 mandatory information request and targeted data requests to build a more detailed picture of firms’ real-world practices. #### The growing significance of evidence What has changed most over the two years of the Consumer Duty is not the intention behind regulation but the standard of proof that firms are now expected to maintain. The FCA’s shift from prescription to what it terms “principles with proof” places the responsibility for demonstrating good outcomes squarely on firms’ shoulders. Across the industry, this is exposing long-standing evidential gaps. Record-keeping inconsistencies, missing audit trails and incomplete documentation continue to cause friction, particularly when firms attempt to evidence standard activities such as annual reviews or vulnerability assessments. Even where the right thing has happened, the absence of a paper trail can create risk. This reality became even clearer during our second poll, which explored how many customer conversations are being recorded and assessed by participating firms. The responses reflected the sector’s fragmentation. While some firms are now reviewing more than ten percent of interactions (17%), which is significantly higher than the historic norm, a substantial portion still do not record every conversation (30%) and many assess only a small fraction of those they do capture (35%). Although the value of evidence is well understood, the practical ability to generate it consistently is far from widespread according to our poll results. #### A confidence gap in outcome testing One of the most revealing themes emerged from our third poll, where participants were asked to identify what they could evidence across their most recent customer outcomes. On the surface, confidence appeared high. All respondents stated that they could verify vulnerability checks, and a large majority felt confident in demonstrating appropriate treatment and customer understanding (82%). Yet beneath this confidence lay clear fragilities. Only around half of participants reported that all their customer conversations were recorded (53%) – a fundamental building block for evidencing understanding, support and fair value. Even fewer (41%) could demonstrate the total absence of detriment across recent journeys. And while many believed they could evidence understanding, only a minority used post-interaction surveys, which remain among the most reliable tools for capturing genuine comprehension. Taken together, the responses suggest a sector that feels directionally confident but operationally stretched. Firms believe they can find the evidence if required, but whether that evidence is accessible, consistent or complete across every journey is another matter. #### Why manual processes can’t meet modern standards This gap between aspiration and operational reality is unsurprising. Traditional outcome testing relies heavily on manual sampling and most compliance teams simply do not have the capacity to review customer interactions at a statistically meaningful level. Even when [call recordings](/) or documents exist, the work required to analyse them can be prohibitive. This is why technology and specifically predictive AI, is becoming central to [evidencing compliance](https://tcc.group/advisory-services/consumer-duty-support/). Unlike generative tools, predictive models are designed to find patterns, detect missing steps and surface potential issues across entire populations of interactions. When used to triage conversations and files, AI enables firms to focus their human reviewers where they are genuinely needed, while still achieving scale, consistency and depth. In practice, this means compliance functions can finally move beyond low-volume sampling and towards true population-level insight, without requiring a dramatic increase in headcount. #### The future of regulation Is evidence-ready Across the webinar, one conclusion became clear: firms are entering a period where evidential readiness is not just a regulatory expectation but a core operational capability. Being able to demonstrate that the right conversations took place, that customers understood the information provided and that good outcomes were achieved – rather than simply avoiding harm — is now essential. The poll results reflected a nuanced picture: progress is being made, ambition is increasing but gaps remain particularly in turning good intentions into reliable, easily retrievable evidence. For firms that invest now in technology, data quality and intelligent sampling techniques, the shift to “show me, don’t tell me” becomes not just achievable but advantageous. These firms will be able to not only gain the operational efficiencies achieved through AI but also respond confidently to regulatory scrutiny, make better decisions internally and deliver genuinely better customer outcomes. #### Strengthen your evidencing capabilities Whether you need clarity on your ongoing Consumer Duty MI matrix or the ability to evidence outcomes at scale, TCC and Recordsure can help. TCC’s regulatory experts work with you to assess your current approach, identify gaps and benchmark your processes against best practice. And with Recordsure’s AI technology, you can analyse every interaction, surface risk and build a reliable evidential framework without increasing headcount. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Evidencing compliance in a data-led regulatory world", "item": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/", "name": "Evidencing compliance in a data-led regulatory world", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-11-10T10:37:25+00:00", "dateModified": "2025-11-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-11-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Evidencing compliance in a data-led regulatory world", "datePublished": "2025-11-10T10:37:25+00:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ce02cf9f2fb24c798a59d7f822a47967/thumbnail-1024-7d189a6ffb26eedcb328b456154f60ab6d873965f4b6f9f3f37bf8bf34aafd3d.jpg", "description": "Firms face rising expectations to evidence Consumer Duty outcomes through data, recordings, documents and AI-supported oversight rather than manual sampling alone.", "inLanguage": "en-GB", "articleBody": "FCA supervision is becoming more evidence-led and data-driven under Consumer Duty. Webinar poll results show confidence in outcome testing, but also gaps in recording, documentation and evidence across customer journeys.\n\nThe regulatory landscape for financial services firms continues to evolve.\n\nPolitical pressure to promote growth is increasing, yet firms must still demonstrate their full commitment to the FCA\u2019s Consumer Duty. At the same time, they are expected to deliver good customer outcomes through outcomes-based regulation shaped by shifting expectations, new supervisory approaches and a growing emphasis on data-led oversight.\n\nOn one hand, firms still hear messages about easing regulatory burdens and reducing unnecessary reporting. On the other, they are experiencing a clear rise in targeted evidence requests and an FCA that expects them to be ready at any moment to demonstrate how they are consistently delivering, measuring and monitoring good consumer outcomes on an ongoing basis.\n\nThis topic formed the backdrop to our recent webinar on evidencing compliance, where the theme that emerged above all others was the maturing regulatory model, shifting to evidence based and data-driven insights as part of the regulator\u2019s rebalancing risk for growth exercise.\n\nMixed signals but a clear direction\n\nThroughout the webinar, we ran three polls. The first revealed the mood across the industry. Despite recent political messaging, when asked \u201cIn the changing regulatory environment, how are you feeling about the evidence and reporting obligation?\u201d the largest proportion of participants (42%) said they believed the regulatory environment was unlikely to change significantly in the near term. A further 25% expected Consumer Duty to continue increasing the burden, suggesting that many in the industry feel the higher standards introduced by the Consumer Duty are here to stay. A smaller, but still important, group (8%) expressed uncertainty about what lies ahead.\n\nWhile the messages from the FCA may sometimes appear softened, the substance of activity tells a different story. The regulator is continuing to push forward with an outcomes-focused, data-first, evidence-driven model of supervision, using tools such as the S165 mandatory information request and targeted data requests to build a more detailed picture of firms\u2019 real-world practices.\n\nThe growing significance of evidence\n\nWhat has changed most over the two years of the Consumer Duty is not the intention behind regulation but the standard of proof that firms are now expected to maintain. The FCA\u2019s shift from prescription to what it terms \u201cprinciples with proof\u201d places the responsibility for demonstrating good outcomes squarely on firms\u2019 shoulders.\n\nAcross the industry, this is exposing long-standing evidential gaps. Record-keeping inconsistencies, missing audit trails and incomplete documentation continue to cause friction, particularly when firms attempt to evidence standard activities such as annual reviews or vulnerability assessments. Even where the right thing has happened, the absence of a paper trail can create risk.\n\nThis reality became even clearer during our second poll, which explored how many customer conversations are being recorded and assessed by participating firms. The responses reflected the sector\u2019s fragmentation. While some firms are now reviewing more than ten percent of interactions (17%), which is significantly higher than the historic norm, a substantial portion still do not record every conversation (30%) and many assess only a small fraction of those they do capture (35%).\n\nAlthough the value of evidence is well understood, the practical ability to generate it consistently is far from widespread according to our poll results.\n\nA confidence gap in outcome testing\n\nOne of the most revealing themes emerged from our third poll, where participants were asked to identify what they could evidence across their most recent customer outcomes. On the surface, confidence appeared high. All respondents stated that they could verify vulnerability checks, and a large majority felt confident in demonstrating appropriate treatment and customer understanding (82%).\n\nYet beneath this confidence lay clear fragilities. Only around half of participants reported that all their customer conversations were recorded (53%) \u2013 a fundamental building block for evidencing understanding, support and fair value. Even fewer (41%) could demonstrate the total absence of detriment across recent journeys. And while many believed they could evidence understanding, only a minority used post-interaction surveys, which remain among the most reliable tools for capturing genuine comprehension.\n\nTaken together, the responses suggest a sector that feels directionally confident but operationally stretched. Firms believe they can find the evidence if required, but whether that evidence is accessible, consistent or complete across every journey is another matter.\n\nWhy manual processes can\u2019t meet modern standards\n\nThis gap between aspiration and operational reality is unsurprising. Traditional outcome testing relies heavily on manual sampling and most compliance teams simply do not have the capacity to review customer interactions at a statistically meaningful level. Even when call recordings or documents exist, the work required to analyse them can be prohibitive.\n\nThis is why technology and specifically predictive AI, is becoming central to evidencing compliance. Unlike generative tools, predictive models are designed to find patterns, detect missing steps and surface potential issues across entire populations of interactions. When used to triage conversations and files, AI enables firms to focus their human reviewers where they are genuinely needed, while still achieving scale, consistency and depth.\n\nIn practice, this means compliance functions can finally move beyond low-volume sampling and towards true population-level insight, without requiring a dramatic increase in headcount.\n\nThe future of regulation Is evidence-ready\n\nAcross the webinar, one conclusion became clear: firms are entering a period where evidential readiness is not just a regulatory expectation but a core operational capability. Being able to demonstrate that the right conversations took place, that customers understood the information provided and that good outcomes were achieved \u2013 rather than simply avoiding harm \u2014 is now essential.\n\nThe poll results reflected a nuanced picture: progress is being made, ambition is increasing but gaps remain particularly in turning good intentions into reliable, easily retrievable evidence. For firms that invest now in technology, data quality and intelligent sampling techniques, the shift to \u201cshow me, don\u2019t tell me\u201d becomes not just achievable but advantageous. These firms will be able to not only gain the operational efficiencies achieved through AI but also respond confidently to regulatory scrutiny, make better decisions internally and deliver genuinely better customer outcomes.\n\nStrengthen your evidencing capabilities\n\nWhether you need clarity on your ongoing Consumer Duty MI matrix or the ability to evidence outcomes at scale, TCC and Recordsure can help. TCC\u2019s regulatory experts work with you to assess your current approach, identify gaps and benchmark your processes against best practice. And with Recordsure\u2019s AI technology, you can analyse every interaction, surface risk and build a reliable evidential framework without increasing headcount.", "wordCount": 1093, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-7" } ], "about": [ { "@type": "Thing", "name": "Evidence-led compliance" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "text": "The regulatory landscape for financial services firms continues to evolve.\n\nPolitical pressure to promote growth is increasing, yet firms must still demonstrate their full commitment to the FCA\u2019s Consumer Duty. At the same time, they are expected to deliver good customer outcomes through outcomes-based regulation shaped by shifting expectations, new supervisory approaches and a growing emphasis on data-led oversight.\n\nOn one hand, firms still hear messages about easing regulatory burdens and reducing unnecessary reporting. On the other, they are experiencing a clear rise in targeted evidence requests and an FCA that expects them to be ready at any moment to demonstrate how they are consistently delivering, measuring and monitoring good consumer outcomes on an ongoing basis.\n\nThis topic formed the backdrop to our recent webinar on evidencing compliance, where the theme that emerged above all others was the maturing regulatory model, shifting to evidence based and data-driven insights as part of the regulator\u2019s rebalancing risk for growth exercise." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "Mixed signals but a clear direction", "text": "Throughout the webinar, we ran three polls. The first revealed the mood across the industry. Despite recent political messaging, when asked \u201cIn the changing regulatory environment, how are you feeling about the evidence and reporting obligation?\u201d the largest proportion of participants (42%) said they believed the regulatory environment was unlikely to change significantly in the near term. A further 25% expected Consumer Duty to continue increasing the burden, suggesting that many in the industry feel the higher standards introduced by the Consumer Duty are here to stay. A smaller, but still important, group (8%) expressed uncertainty about what lies ahead.\n\nWhile the messages from the FCA may sometimes appear softened, the substance of activity tells a different story. The regulator is continuing to push forward with an outcomes-focused, data-first, evidence-driven model of supervision, using tools such as the S165 mandatory information request and targeted data requests to build a more detailed picture of firms\u2019 real-world practices." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "The growing significance of evidence", "text": "What has changed most over the two years of the Consumer Duty is not the intention behind regulation but the standard of proof that firms are now expected to maintain. The FCA\u2019s shift from prescription to what it terms \u201cprinciples with proof\u201d places the responsibility for demonstrating good outcomes squarely on firms\u2019 shoulders.\n\nAcross the industry, this is exposing long-standing evidential gaps. Record-keeping inconsistencies, missing audit trails and incomplete documentation continue to cause friction, particularly when firms attempt to evidence standard activities such as annual reviews or vulnerability assessments. Even where the right thing has happened, the absence of a paper trail can create risk.\n\nThis reality became even clearer during our second poll, which explored how many customer conversations are being recorded and assessed by participating firms. The responses reflected the sector\u2019s fragmentation. While some firms are now reviewing more than ten percent of interactions (17%), which is significantly higher than the historic norm, a substantial portion still do not record every conversation (30%) and many assess only a small fraction of those they do capture (35%).\n\nAlthough the value of evidence is well understood, the practical ability to generate it consistently is far from widespread according to our poll results." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "A confidence gap in outcome testing", "text": "One of the most revealing themes emerged from our third poll, where participants were asked to identify what they could evidence across their most recent customer outcomes. On the surface, confidence appeared high. All respondents stated that they could verify vulnerability checks, and a large majority felt confident in demonstrating appropriate treatment and customer understanding (82%).\n\nYet beneath this confidence lay clear fragilities. Only around half of participants reported that all their customer conversations were recorded (53%) \u2013 a fundamental building block for evidencing understanding, support and fair value. Even fewer (41%) could demonstrate the total absence of detriment across recent journeys. And while many believed they could evidence understanding, only a minority used post-interaction surveys, which remain among the most reliable tools for capturing genuine comprehension.\n\nTaken together, the responses suggest a sector that feels directionally confident but operationally stretched. Firms believe they can find the evidence if required, but whether that evidence is accessible, consistent or complete across every journey is another matter." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "Why manual processes can\u2019t meet modern standards", "text": "This gap between aspiration and operational reality is unsurprising. Traditional outcome testing relies heavily on manual sampling and most compliance teams simply do not have the capacity to review customer interactions at a statistically meaningful level. Even when call recordings or documents exist, the work required to analyse them can be prohibitive.\n\nThis is why technology and specifically predictive AI, is becoming central to evidencing compliance. Unlike generative tools, predictive models are designed to find patterns, detect missing steps and surface potential issues across entire populations of interactions. When used to triage conversations and files, AI enables firms to focus their human reviewers where they are genuinely needed, while still achieving scale, consistency and depth.\n\nIn practice, this means compliance functions can finally move beyond low-volume sampling and towards true population-level insight, without requiring a dramatic increase in headcount." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "The future of regulation Is evidence-ready", "text": "Across the webinar, one conclusion became clear: firms are entering a period where evidential readiness is not just a regulatory expectation but a core operational capability. Being able to demonstrate that the right conversations took place, that customers understood the information provided and that good outcomes were achieved \u2013 rather than simply avoiding harm \u2014 is now essential.\n\nThe poll results reflected a nuanced picture: progress is being made, ambition is increasing but gaps remain particularly in turning good intentions into reliable, easily retrievable evidence. For firms that invest now in technology, data quality and intelligent sampling techniques, the shift to \u201cshow me, don\u2019t tell me\u201d becomes not just achievable but advantageous. These firms will be able to not only gain the operational efficiencies achieved through AI but also respond confidently to regulatory scrutiny, make better decisions internally and deliver genuinely better customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "headline": "Strengthen your evidencing capabilities", "text": "Whether you need clarity on your ongoing Consumer Duty MI matrix or the ability to evidence outcomes at scale, TCC and Recordsure can help. TCC\u2019s regulatory experts work with you to assess your current approach, identify gaps and benchmark your processes against best practice. And with Recordsure\u2019s AI technology, you can analyse every interaction, surface risk and build a reliable evidential framework without increasing headcount." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/evidencing-compliance-in-a-data-led-regulatory-world/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the first webinar poll find?", "acceptedAnswer": { "@type": "Answer", "text": "It found that 42% expected little near-term change in the regulatory environment, 25% expected Consumer Duty to keep increasing the burden and 8% were uncertain." } }, { "@type": "Question", "name": "What evidential gaps need attention?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies record-keeping inconsistencies, missing audit trails, incomplete documentation and fragmented recording or assessment of customer conversations." } }, { "@type": "Question", "name": "Why distinguish predictive AI from generative tools?", "acceptedAnswer": { "@type": "Answer", "text": "It says predictive models are designed to find patterns, detect missing steps and surface potential issues across entire populations of interactions." } }, { "@type": "Question", "name": "What is evidential readiness?", "acceptedAnswer": { "@type": "Answer", "text": "Evidential readiness means being able to demonstrate that the right conversations happened, customers understood the information provided and good outcomes were achieved." } } ] } ] } ``` ### Why ‘simple’ redress schemes require strategic planning - URL: https://recordsure.com/insights/analysis-and-perspective/why-simple-redress-schemes-require-strategic-planning/ - Published: 2025-10-24 - Modified: 2026-10-09 **Topic:** Redress planning Redress schemes can look simple on paper but quickly become complex in execution. Strategic preparation helps firms manage scale, exceptions, governance and customer outcomes. #### Key points - Redress programmes require more than identifying customers, calculating compensation and making payments. - Data quality, workflow design and exception handling determine whether large-scale remediation runs effectively. - Technology can support repetitive tasks, but complex and disputed cases still need human oversight. Early preparation is critical for firms responding to the FCA’s new motor finance redress scheme. TCC Group’s subject matter experts, Garry Evans and Mike Morris, explain how firms can approach remediation strategically, covering everything from operational design and portfolio assessment to governance and building internal capability. #### The myth of simplicity Redress schemes often appear straightforward: identify affected customers, calculate compensation and make the required payments. But taking a closer look at the proposed motor finance redress, what looks simple on paper can quickly become complex in practice. Delivering fair and consistent outcomes requires significant operational, technological and human expertise. #### Large-scale remediation: Challenges in execution Operational hurdles are inevitable. Customer records can be inconsistent or incomplete, agreements span multiple product types and exceptions cannot be avoided. Without careful planning, these challenges translate into delays, costly errors and reputational risk. When remediation involves millions of customers and potentially millions in compensation, success depends on precise data management, clear workflows and coordinated execution. #### Strategic integration of people and tech Automation is a powerful enabler for repetitive tasks such as calculations and customer communications. However, it cannot replace human oversight for complex or disputed cases. Firms that strategically combine technology with human expertise can manage scale, maintain accuracy and consistently deliver high-quality outcomes. Forward-thinking operational planning is essential. Capacity planning, workflow integration, quality assurance and strong reporting frameworks allow firms to cope with large volumes of redress. By anticipating exceptions, monitoring performance metrics and maintaining strong governance, processes remain resilient even under pressure. #### Sophisticated execution of the redress scheme Recognising the complexity of redress schemes enables firms to approach them with confidence. Combining technology, human judgment and strong governance, a sophisticated operational approach transforms a high-stakes regulatory challenge into a controlled, manageable process. Firms that embrace this approach achieve compliance and also demonstrate operational maturity, customer focus and long-term resilience. TCC Group can help you prepare for the redress now – with our two practical, free offerings: #### 1\. Proven redress tech workflow Our purpose-built motor finance redress workflow, powered by iQcodex, has already processed over one million cases. Firms working with us have: - Quickly analysed complex datasets - Prepared agreements and documents for review - Defined scope determination, tracing and customer contact strategies - Positioned themselves to implement redress calculations and payments as soon as the FCA finalises its plans With this foundation in place, they’re ready to act on the FCA’s future announcement immediately – no delays, no wasted time. #### 2\. Half-day redress strategy workshop For firms looking to go beyond readiness, our tailored workshop provides a clear, efficient plan for managing redress reviews. Covering everything from: - Validating your regulatory approach - Reviewing sales documentation to testing calculations - Exploring cost-effective resourcing - Modelling key scenarios This session gives you the expert guidance needed to ensure your processes are strong and FCA-ready. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Strategic preparation helps firms manage scale, exceptions, governance and customer outcomes.\n\nEarly preparation is critical for firms responding to the FCA\u2019s new motor finance redress scheme. TCC Group\u2019s subject matter experts, Garry Evans and Mike Morris, explain how firms can approach remediation strategically, covering everything from operational design and portfolio assessment to governance and building internal capability.\n\nThe myth of simplicity\n\nRedress schemes often appear straightforward: identify affected customers, calculate compensation and make the required payments. But taking a closer look at the proposed motor finance redress, what looks simple on paper can quickly become complex in practice. Delivering fair and consistent outcomes requires significant operational, technological and human expertise.\n\nLarge-scale remediation: Challenges in execution\n\nOperational hurdles are inevitable. Customer records can be inconsistent or incomplete, agreements span multiple product types and exceptions cannot be avoided. Without careful planning, these challenges translate into delays, costly errors and reputational risk. When remediation involves millions of customers and potentially millions in compensation, success depends on precise data management, clear workflows and coordinated execution.\n\nStrategic integration of people and tech\n\nAutomation is a powerful enabler for repetitive tasks such as calculations and customer communications. However, it cannot replace human oversight for complex or disputed cases. Firms that strategically combine technology with human expertise can manage scale, maintain accuracy and consistently deliver high-quality outcomes.\n\nForward-thinking operational planning is essential. Capacity planning, workflow integration, quality assurance and strong reporting frameworks allow firms to cope with large volumes of redress. By anticipating exceptions, monitoring performance metrics and maintaining strong governance, processes remain resilient even under pressure.\n\nSophisticated execution of the redress scheme\n\nRecognising the complexity of redress schemes enables firms to approach them with confidence. Combining technology, human judgment and strong governance, a sophisticated operational approach transforms a high-stakes regulatory challenge into a controlled, manageable process. Firms that embrace this approach achieve compliance and also demonstrate operational maturity, customer focus and long-term resilience.\n\nTCC Group can help you prepare for the redress now \u2013 with our two practical, free offerings:\n\n1. Proven redress tech workflow\n\nOur purpose-built motor finance redress workflow, powered by iQcodex, has already processed over one million cases. 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TCC Group\u2019s subject matter experts, Garry Evans and Mike Morris, explain how firms can approach remediation strategically, covering everything from operational design and portfolio assessment to governance and building internal capability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-simple-redress-schemes-require-strategic-planning/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-simple-redress-schemes-require-strategic-planning/#webpage" }, "inLanguage": "en-GB", "headline": "The myth of simplicity", "text": "Redress schemes often appear straightforward: identify affected customers, calculate compensation and make the required payments. But taking a closer look at the proposed motor finance redress, what looks simple on paper can quickly become complex in practice. 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Portfolio assessment, data validation and workflow design are central to readiness. #### Key points - Early preparation can reduce operational stress and show proactive regulatory compliance. - Portfolio reviews should confirm complete records, agreement classification and reliable historical data. - Redress workflows need both automation and human expertise for complex or exceptional cases. - Staff training, quality assurance and scenario planning build internal capability. In a second excerpt from a webinar on the FCA’s new motor finance redress scheme, Garry Evans and Mike Morris discussed what firms should do now to prepare. The segment focused on early preparation, portfolio assessment, governance, operational design and internal capability. A malformed webinar management link has not been kept as an anchor. #### The case for early preparation [The FCA’s consultation is a call to action.](https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme) Preparation is no longer optional: firms that move early can reduce operational stress while showing a proactive approach to regulatory compliance. Waiting until the scheme launches can lead to rushed processes, reactive decisions and higher operational costs. Early preparation gives firms more time to plan, coordinate and deliver with precision. #### Portfolio assessment and governance A thorough portfolio review is the foundation of preparation. Firms need to check that customer records are complete, agreements are accurately classified and historical data is reliable. This work requires cross-functional collaboration across compliance, operations, IT and customer service teams. Governance is also important: clear accountability, defined roles and structured decision-making are critical to [navigating the complexity of a large-scale redress initiative](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme). #### Automation meets human expertise Technology can transform remediation operations, especially for high volumes of standard calculations and communications. But automation has limits and must be complemented by human expertise. Complex or exceptional cases require human judgement, discretion and careful review. Firms that combine automation with expert review can balance efficiency and accuracy, helping ensure cases are handled fairly and consistently. #### Building internal capability and resilience Preparation also depends on capability. Staff need training to understand the scheme, quality assurance mechanisms need to be in place, and scenario planning should anticipate possible challenges. Firms that invest early in these capabilities are better placed to deliver accurate redress at scale while maintaining regulatory confidence and customer trust. #### Next steps for firms The opportunity lies in decisive early action. Refining governance, validating data and designing workflows that combine technology with human judgement can reduce risk and build operational confidence. Two free offerings support preparation. The first is a purpose-built motor finance redress workflow powered by iQcodex, which had already processed over one million cases. It supported complex dataset analysis, agreement and document preparation, scope determination, tracing and customer contact strategies, and readiness for redress calculations and payments once FCA plans are finalised. The second was a half-day redress strategy workshop covering regulatory approach validation, sales documentation review, calculation testing, cost-effective resourcing and scenario modelling. #### Supporting sources - [FCA motor finance compensation scheme consultation](https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme) - [FCA key considerations for a possible motor finance consumer redress scheme](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Portfolio assessment, data validation and workflow design are central to readiness.\n\nIn a second excerpt from a webinar on the FCA\u2019s new motor finance redress scheme, Garry Evans and Mike Morris discussed what firms should do now to prepare. The segment focused on early preparation, portfolio assessment, governance, operational design and internal capability.\n\nA malformed webinar management link has not been kept as an anchor.\n\nThe case for early preparation\n\nThe FCA\u2019s consultation is a call to action. Preparation is no longer optional: firms that move early can reduce operational stress while showing a proactive approach to regulatory compliance.\n\nWaiting until the scheme launches can lead to rushed processes, reactive decisions and higher operational costs. Early preparation gives firms more time to plan, coordinate and deliver with precision.\n\nPortfolio assessment and governance\n\nA thorough portfolio review is the foundation of preparation. Firms need to check that customer records are complete, agreements are accurately classified and historical data is reliable.\n\nThis work requires cross-functional collaboration across compliance, operations, IT and customer service teams. Governance is also important: clear accountability, defined roles and structured decision-making are critical to navigating the complexity of a large-scale redress initiative.\n\nAutomation meets human expertise\n\nTechnology can transform remediation operations, especially for high volumes of standard calculations and communications. But automation has limits and must be complemented by human expertise.\n\nComplex or exceptional cases require human judgement, discretion and careful review. Firms that combine automation with expert review can balance efficiency and accuracy, helping ensure cases are handled fairly and consistently.\n\nBuilding internal capability and resilience\n\nPreparation also depends on capability. Staff need training to understand the scheme, quality assurance mechanisms need to be in place, and scenario planning should anticipate possible challenges.\n\nFirms that invest early in these capabilities are better placed to deliver accurate redress at scale while maintaining regulatory confidence and customer trust.\n\nNext steps for firms\n\nThe opportunity lies in decisive early action. Refining governance, validating data and designing workflows that combine technology with human judgement can reduce risk and build operational confidence.\n\nTwo free offerings support preparation. The first is a purpose-built motor finance redress workflow powered by iQcodex, which had already processed over one million cases. It supported complex dataset analysis, agreement and document preparation, scope determination, tracing and customer contact strategies, and readiness for redress calculations and payments once FCA plans are finalised.\n\nThe second was a half-day redress strategy workshop covering regulatory approach validation, sales documentation review, calculation testing, cost-effective resourcing and scenario modelling.", "wordCount": 436, "keywords": [ "Lending and Credit", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Motor finance readiness" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA motor finance compensation scheme consultation", "url": "https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme" }, { "@type": "CreativeWork", "name": "FCA key considerations for a possible motor finance consumer redress scheme", "url": "https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "text": "In a second excerpt from a webinar on the FCA\u2019s new motor finance redress scheme, Garry Evans and Mike Morris discussed what firms should do now to prepare. The segment focused on early preparation, portfolio assessment, governance, operational design and internal capability.\n\nA malformed webinar management link has not been kept as an anchor." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "headline": "The case for early preparation", "text": "The FCA\u2019s consultation is a call to action. Preparation is no longer optional: firms that move early can reduce operational stress while showing a proactive approach to regulatory compliance.\n\nWaiting until the scheme launches can lead to rushed processes, reactive decisions and higher operational costs. Early preparation gives firms more time to plan, coordinate and deliver with precision." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "headline": "Portfolio assessment and governance", "text": "A thorough portfolio review is the foundation of preparation. Firms need to check that customer records are complete, agreements are accurately classified and historical data is reliable.\n\nThis work requires cross-functional collaboration across compliance, operations, IT and customer service teams. Governance is also important: clear accountability, defined roles and structured decision-making are critical to navigating the complexity of a large-scale redress initiative." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "headline": "Automation meets human expertise", "text": "Technology can transform remediation operations, especially for high volumes of standard calculations and communications. But automation has limits and must be complemented by human expertise.\n\nComplex or exceptional cases require human judgement, discretion and careful review. Firms that combine automation with expert review can balance efficiency and accuracy, helping ensure cases are handled fairly and consistently." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "headline": "Building internal capability and resilience", "text": "Preparation also depends on capability. Staff need training to understand the scheme, quality assurance mechanisms need to be in place, and scenario planning should anticipate possible challenges.\n\nFirms that invest early in these capabilities are better placed to deliver accurate redress at scale while maintaining regulatory confidence and customer trust." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "headline": "Next steps for firms", "text": "The opportunity lies in decisive early action. Refining governance, validating data and designing workflows that combine technology with human judgement can reduce risk and build operational confidence.\n\nTwo free offerings support preparation. The first is a purpose-built motor finance redress workflow powered by iQcodex, which had already processed over one million cases. It supported complex dataset analysis, agreement and document preparation, scope determination, tracing and customer contact strategies, and readiness for redress calculations and payments once FCA plans are finalised.\n\nThe second was a half-day redress strategy workshop covering regulatory approach validation, sales documentation review, calculation testing, cost-effective resourcing and scenario modelling." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-motor-finance-compliance-into-an-opportunity/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why should firms prepare early?", "acceptedAnswer": { "@type": "Answer", "text": "Firms that move early can reduce operational stress, avoid rushed processes and show a proactive approach to regulatory compliance." } }, { "@type": "Question", "name": "What should a portfolio assessment cover?", "acceptedAnswer": { "@type": "Answer", "text": "It should check customer records, agreement classification and the reliability of historical data." } }, { "@type": "Question", "name": "Where does human expertise remain necessary?", "acceptedAnswer": { "@type": "Answer", "text": "Complex or exceptional cases need human judgement, discretion and careful review alongside automation." } }, { "@type": "Question", "name": "What capability work is needed?", "acceptedAnswer": { "@type": "Answer", "text": "Staff need training, quality assurance mechanisms and scenario planning." } } ] } ] } ``` ### The role of generative and predictive AI in wealth management - URL: https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/ - Published: 2025-10-17 - Modified: 2026-10-09 **Topic:** AI governance Predictive AI is suited to structured, repeatable tasks, while generative AI is better used for summarising and drafting support. Wealth managers need clear guardrails, governance and maintenance so AI improves efficiency without weakening accuracy or compliance. #### Key points - Predictive AI gives consistent outputs for structured tasks when inputs are the same. - Generative AI can produce useful summaries but may also give confident, incorrect answers. - AI tools need guardrails, safety filters, testing and information security oversight. - Long-term adoption requires maintenance as models, prompts, workflows and business needs change. AI is reshaping routine, time-intensive work across many industries, including wealth management. The risk is that firms choose the wrong type of AI for the task and undermine the results they are trying to achieve. In the AI in compliance webinar, Kit Ruparel, TCC and Recordsure’s Chief Technology Officer, joined Garry Evans, Chief Product and Commercial Officer, to discuss practical lessons from AI adoption. The session covered the opportunities and the operational and regulatory risks firms need to manage. #### Understanding the difference Kit Ruparel drew a critical distinction between predictive AI and generative AI. Predictive AI is built on deterministic machine learning and produces the same output when given the same inputs. That consistency makes it suitable for forecasting, modelling and structured data tasks that need accuracy and repeatability. Firms can also tune confidence thresholds so they understand how much reliance to place on predictive outputs. That makes predictive AI a better fit for systems based on structured, reliable data. Generative AI is probabilistic. Large language models were designed for creative tasks such as writing stories, generating reports and summarising complex information. That flexibility can be useful, but it also means the model may produce varied outputs and can give confident, human-like answers that are wrong. For wealth management, the distinction is practical. Generative AI may help condense portfolio reports, produce meeting summaries or draft communications, reducing repetitive work for advisers. It should not replace structured systems where predictive AI remains more effective. #### Guardrails and governance Generative AI’s unpredictability creates risk, especially where conversations involve sensitive topics. Firms need guardrails and safety filters to prevent unsafe outputs and reduce operational and regulatory risk. Governance frameworks should ensure AI tools are integrated with enterprise systems and monitored by information security teams. Predictive AI also needs ongoing attention because it depends on high-quality data, subject matter expertise and tuning by experienced data scientists. AI is not a set-and-forget solution. Maintaining accuracy requires continuous testing, updating and adaptation as business needs, regulatory requirements and market conditions change. #### Choosing the right AI tool Firms need to match each AI tool to a suitable task. Predictive AI can reduce human effort dramatically, sometimes by up to 50%, by automating suitability checks and validating structured data. Generative AI can help summarise information into digestible formats, but it should not be used to generate primary insights or make critical decisions. Product research, product selection and suitability report generation are better served by predictive AI and templated approaches. Overreliance on large language models in these areas creates the risk of superficial outputs and inaccuracies. It can also create an “AI Verification Tax”, where people spend as much time checking AI outputs as they would have spent doing the work manually. #### Planning for long-term AI adoption AI adoption is a long-term commitment. AI models evolve constantly: OpenAI deprecates models within a year, and updates from GPT-3.5 to GPT-4 or GPT-5 require organisations to retest and adjust prompts and workflows. Models can also experience drift as business processes, customer needs and regulatory frameworks change. Firms therefore need ongoing maintenance and investment in research and development. AI is not the whole application. Organisations must also integrate AI into workflows, design user-friendly interfaces and test quality so outputs meet business and regulatory standards. Those elements are as important as the model itself. #### Using AI responsibly For wealth managers, AI adoption is a conduct and compliance question as well as a technology decision. Firms need end-user training, tools that minimise potential harm and transparency about how AI informs decisions. The FCA increasingly expects firms to show strong governance and control frameworks, making oversight part of any AI strategy. Generative AI can support work, but it should not operate in isolation for critical client decisions. Using generative AI alone can introduce bias, produce unverified outputs and create regulatory exposure. Combining it with structured predictive systems and clear oversight helps firms use AI while maintaining reliability, compliance and trust. #### The path forward for wealth management firms The webinar’s core message was that AI can improve efficiency and insight only when it is carefully matched to the right tasks and supported by governance. Predictive AI works best for structured, repeatable and data-driven tasks. Generative AI is best used to summarise, consolidate and communicate insights in human-readable form. Firms should keep evaluating new AI tools, integrate them thoughtfully into enterprise systems and maintain a long-term strategy for upkeep and compliance. The successful use of AI in financial services depends on planning, oversight and understanding each tool’s purpose as much as on the technology itself. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The role of generative and predictive AI in wealth management", "item": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/", "name": "The role of generative and predictive AI in wealth management", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-17T11:48:22+01:00", "dateModified": "2025-10-21T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-21" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The role of generative and predictive AI in wealth management", "datePublished": "2025-10-17T11:48:22+01:00", "dateModified": "2026-10-09T04:50:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3d5d8e03f29a4110bf7cd6e229203da7/thumbnail-1024-8e284d21d6122108fcdb7977100f7d446c3fc245d5c013bbe94bc08fac79c019.jpg", "description": "Wealth managers need to match predictive and generative AI to the right tasks, with governance, testing and oversight built into any long-term adoption plan.", "inLanguage": "en-GB", "articleBody": "Predictive AI is suited to structured, repeatable tasks, while generative AI is better used for summarising and drafting support. Wealth managers need clear guardrails, governance and maintenance so AI improves efficiency without weakening accuracy or compliance.\n\nAI is reshaping routine, time-intensive work across many industries, including wealth management. The risk is that firms choose the wrong type of AI for the task and undermine the results they are trying to achieve.\n\nIn the AI in compliance webinar, Kit Ruparel, TCC and Recordsure\u2019s Chief Technology Officer, joined Garry Evans, Chief Product and Commercial Officer, to discuss practical lessons from AI adoption. The session covered the opportunities and the operational and regulatory risks firms need to manage.\n\nUnderstanding the difference\n\nKit Ruparel drew a critical distinction between predictive AI and generative AI. Predictive AI is built on deterministic machine learning and produces the same output when given the same inputs. That consistency makes it suitable for forecasting, modelling and structured data tasks that need accuracy and repeatability.\n\nFirms can also tune confidence thresholds so they understand how much reliance to place on predictive outputs. That makes predictive AI a better fit for systems based on structured, reliable data.\n\nGenerative AI is probabilistic. Large language models were designed for creative tasks such as writing stories, generating reports and summarising complex information. That flexibility can be useful, but it also means the model may produce varied outputs and can give confident, human-like answers that are wrong.\n\nFor wealth management, the distinction is practical. Generative AI may help condense portfolio reports, produce meeting summaries or draft communications, reducing repetitive work for advisers. It should not replace structured systems where predictive AI remains more effective.\n\nGuardrails and governance\n\nGenerative AI\u2019s unpredictability creates risk, especially where conversations involve sensitive topics. Firms need guardrails and safety filters to prevent unsafe outputs and reduce operational and regulatory risk.\n\nGovernance frameworks should ensure AI tools are integrated with enterprise systems and monitored by information security teams. Predictive AI also needs ongoing attention because it depends on high-quality data, subject matter expertise and tuning by experienced data scientists.\n\nAI is not a set-and-forget solution. Maintaining accuracy requires continuous testing, updating and adaptation as business needs, regulatory requirements and market conditions change.\n\nChoosing the right AI tool\n\nFirms need to match each AI tool to a suitable task. Predictive AI can reduce human effort dramatically, sometimes by up to 50%, by automating suitability checks and validating structured data.\n\nGenerative AI can help summarise information into digestible formats, but it should not be used to generate primary insights or make critical decisions. Product research, product selection and suitability report generation are better served by predictive AI and templated approaches.\n\nOverreliance on large language models in these areas creates the risk of superficial outputs and inaccuracies. It can also create an \u201cAI Verification Tax\u201d, where people spend as much time checking AI outputs as they would have spent doing the work manually.\n\nPlanning for long-term AI adoption\n\nAI adoption is a long-term commitment. AI models evolve constantly: OpenAI deprecates models within a year, and updates from GPT-3.5 to GPT-4 or GPT-5 require organisations to retest and adjust prompts and workflows.\n\nModels can also experience drift as business processes, customer needs and regulatory frameworks change. Firms therefore need ongoing maintenance and investment in research and development.\n\nAI is not the whole application. Organisations must also integrate AI into workflows, design user-friendly interfaces and test quality so outputs meet business and regulatory standards. Those elements are as important as the model itself.\n\nUsing AI responsibly\n\nFor wealth managers, AI adoption is a conduct and compliance question as well as a technology decision. Firms need end-user training, tools that minimise potential harm and transparency about how AI informs decisions.\n\nThe FCA increasingly expects firms to show strong governance and control frameworks, making oversight part of any AI strategy. Generative AI can support work, but it should not operate in isolation for critical client decisions.\n\nUsing generative AI alone can introduce bias, produce unverified outputs and create regulatory exposure. Combining it with structured predictive systems and clear oversight helps firms use AI while maintaining reliability, compliance and trust.\n\nThe path forward for wealth management firms\n\nThe webinar\u2019s core message was that AI can improve efficiency and insight only when it is carefully matched to the right tasks and supported by governance. Predictive AI works best for structured, repeatable and data-driven tasks. Generative AI is best used to summarise, consolidate and communicate insights in human-readable form.\n\nFirms should keep evaluating new AI tools, integrate them thoughtfully into enterprise systems and maintain a long-term strategy for upkeep and compliance. The successful use of AI in financial services depends on planning, oversight and understanding each tool\u2019s purpose as much as on the technology itself.", "wordCount": 793, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI governance" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "text": "AI is reshaping routine, time-intensive work across many industries, including wealth management. The risk is that firms choose the wrong type of AI for the task and undermine the results they are trying to achieve.\n\nIn the AI in compliance webinar, Kit Ruparel, TCC and Recordsure\u2019s Chief Technology Officer, joined Garry Evans, Chief Product and Commercial Officer, to discuss practical lessons from AI adoption. The session covered the opportunities and the operational and regulatory risks firms need to manage." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Understanding the difference", "text": "Kit Ruparel drew a critical distinction between predictive AI and generative AI. Predictive AI is built on deterministic machine learning and produces the same output when given the same inputs. That consistency makes it suitable for forecasting, modelling and structured data tasks that need accuracy and repeatability.\n\nFirms can also tune confidence thresholds so they understand how much reliance to place on predictive outputs. That makes predictive AI a better fit for systems based on structured, reliable data.\n\nGenerative AI is probabilistic. Large language models were designed for creative tasks such as writing stories, generating reports and summarising complex information. That flexibility can be useful, but it also means the model may produce varied outputs and can give confident, human-like answers that are wrong.\n\nFor wealth management, the distinction is practical. Generative AI may help condense portfolio reports, produce meeting summaries or draft communications, reducing repetitive work for advisers. It should not replace structured systems where predictive AI remains more effective." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Guardrails and governance", "text": "Generative AI\u2019s unpredictability creates risk, especially where conversations involve sensitive topics. Firms need guardrails and safety filters to prevent unsafe outputs and reduce operational and regulatory risk.\n\nGovernance frameworks should ensure AI tools are integrated with enterprise systems and monitored by information security teams. 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Predictive AI can reduce human effort dramatically, sometimes by up to 50%, by automating suitability checks and validating structured data.\n\nGenerative AI can help summarise information into digestible formats, but it should not be used to generate primary insights or make critical decisions. Product research, product selection and suitability report generation are better served by predictive AI and templated approaches.\n\nOverreliance on large language models in these areas creates the risk of superficial outputs and inaccuracies. It can also create an \u201cAI Verification Tax\u201d, where people spend as much time checking AI outputs as they would have spent doing the work manually." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Planning for long-term AI adoption", "text": "AI adoption is a long-term commitment. AI models evolve constantly: OpenAI deprecates models within a year, and updates from GPT-3.5 to GPT-4 or GPT-5 require organisations to retest and adjust prompts and workflows.\n\nModels can also experience drift as business processes, customer needs and regulatory frameworks change. Firms therefore need ongoing maintenance and investment in research and development.\n\nAI is not the whole application. Organisations must also integrate AI into workflows, design user-friendly interfaces and test quality so outputs meet business and regulatory standards. Those elements are as important as the model itself." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Using AI responsibly", "text": "For wealth managers, AI adoption is a conduct and compliance question as well as a technology decision. Firms need end-user training, tools that minimise potential harm and transparency about how AI informs decisions.\n\nThe FCA increasingly expects firms to show strong governance and control frameworks, making oversight part of any AI strategy. Generative AI can support work, but it should not operate in isolation for critical client decisions.\n\nUsing generative AI alone can introduce bias, produce unverified outputs and create regulatory exposure. Combining it with structured predictive systems and clear oversight helps firms use AI while maintaining reliability, compliance and trust." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "The path forward for wealth management firms", "text": "The webinar\u2019s core message was that AI can improve efficiency and insight only when it is carefully matched to the right tasks and supported by governance. Predictive AI works best for structured, repeatable and data-driven tasks. Generative AI is best used to summarise, consolidate and communicate insights in human-readable form.\n\nFirms should keep evaluating new AI tools, integrate them thoughtfully into enterprise systems and maintain a long-term strategy for upkeep and compliance. The successful use of AI in financial services depends on planning, oversight and understanding each tool\u2019s purpose as much as on the technology itself." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-role-of-generative-and-predictive-ai-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How does predictive AI differ from generative AI?", "acceptedAnswer": { "@type": "Answer", "text": "Predictive AI is deterministic and consistent for the same inputs, while generative AI is probabilistic and can produce varied outputs." } }, { "@type": "Question", "name": "Where can generative AI help wealth managers?", "acceptedAnswer": { "@type": "Answer", "text": "Generative AI can help with portfolio report summaries, meeting summaries and draft communications, provided firms use oversight and guardrails." } }, { "@type": "Question", "name": "Why should firms avoid using generative AI for critical decisions?", "acceptedAnswer": { "@type": "Answer", "text": "It can produce confident but incorrect answers, superficial outputs or unverified results, which creates operational and regulatory risk." } }, { "@type": "Question", "name": "What makes AI adoption a long-term commitment?", "acceptedAnswer": { "@type": "Answer", "text": "Models, prompts, workflows, business processes and regulatory expectations change over time, so firms need continuous testing and maintenance." } } ] } ] } ``` ### Turning “no change” reviews into insightful compliance opportunities - URL: https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/ - Published: 2025-10-16 - Modified: 2026-10-09 **Topic:** No-change reviews No-change reviews should not be treated as low-risk paperwork. Risk-based checking, AI-supported review and evidence-led feedback can help firms test ongoing suitability and identify improvement themes. #### Key points - A poll found 80% checked 0-10% of annual reviews for suitability. - No-change files can be high risk when a client’s position has not changed for years. - AI can flag cases, check evidence and support RAG-rated reviews. - Suitability reviews can create collaborative insight when findings are evidence-based. Suitability reviews are often treated as a routine compliance step during new business. Quieter cases can pose greater risk: annual reviews where the advice is that nothing should change. #### The reality of no change reviews During a webinar, attendees were asked how often they formally undertake a suitability assessment as part of a client’s annual review, even where the advice is no change. - More than 10% of annual reviews are subject to a suitability check: 20%. - 0-10% of annual reviews are subject to a suitability check: 80%. - No annual reviews are suitability checked: 0%. All surveyed firms understood the importance of reviewing ongoing advice. #### Why they matter David Boyhan, TCC’s Technical Director, said no-change reviews should not be ignored. From a risk perspective, these files can be high risk, particularly where a client’s position has not changed for a number of years. The absence of a new product recommendation is often why the files are overlooked, but ongoing suitability still needs verification. The checks are straightforward in principle: confirm a meaningful annual review occurred, check that client objectives and needs remain aligned with the advice, and confirm that attitude to risk and capacity for loss remain appropriate. Applying these checks consistently across large client bases is more difficult in practice. #### How risk profiles shape review frequency Products do not all carry the same risk. Drawdown accounts typically need more frequent scrutiny than ISAs. Clients who have not engaged for more than 12 months but are still paying fees also need file reviews to check they are benefiting from the services provided. These nuances turn no-change reviews from routine paperwork into a compliance checkpoint. #### Using AI to make it work Neil Dethick, TCC’s Operations Director, described how AI is changing no-change review work in his managed services team. AI is not replacing human judgement; it is removing labour-intensive tasks. It can flag cases that need attention, check for evidence of meaningful annual reviews and help reviewers RAG-rate files based on timeliness, documentation and client outcomes. The result is faster, more accurate assessment and clearer evidence of where processes work well and where improvement is needed. Advisers receive targeted feedback without the combative back-and-forth that can accompany traditional compliance checks. #### From burden to collaborative insight Suitability reviews, whether for new business or ongoing advice, can provide valuable insight when handled well. Evidence-based feedback helps compliance teams and advisers work collaboratively. Patterns and trends become easier to identify, helping firms encourage positive behavioural change without adding extra costs. This aligns with the FCA’s “show me don’t tell me” approach. Firms need to evidence good outcomes and a reasonable sampling process. Without this, FCA censure is a real risk. No-change review clients can represent a large share of a wealth manager’s population, often exceeding new business clients. Ignoring them can increase compliance risk and future workload, so they should be treated as higher risk and built into business assurance models. #### Bringing it to life A free consultancy review was offered for ongoing services cases. The first five requests would receive a sample assessment of 100 client files to show current compliance standards and improvement actions, helping turn no-change reviews from a compliance obligation into a source of practical insight. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Turning \u201cno change\u201d reviews into insightful compliance opportunities", "item": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/", "name": "Turning \u201cno change\u201d reviews into insightful compliance opportunities", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-16T13:04:52+01:00", "dateModified": "2025-10-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Turning \u201cno change\u201d reviews into insightful compliance opportunities", "datePublished": "2025-10-16T13:04:52+01:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/128cbf31ce074a39b6104c57fcb14709/thumbnail-1024-a66fe7dced24d42c5224d83378c8d885260eebbfd06584069298da4d8bf05663.jpg", "description": "No-change annual reviews can carry material suitability risk. Firms need evidence that ongoing advice remains appropriate, even when no new recommendation is made.", "inLanguage": "en-GB", "articleBody": "No-change reviews should not be treated as low-risk paperwork. Risk-based checking, AI-supported review and evidence-led feedback can help firms test ongoing suitability and identify improvement themes.\n\nSuitability reviews are often treated as a routine compliance step during new business. Quieter cases can pose greater risk: annual reviews where the advice is that nothing should change.\n\nThe reality of no change reviews\n\nDuring a webinar, attendees were asked how often they formally undertake a suitability assessment as part of a client\u2019s annual review, even where the advice is no change.\n\n\u2022 More than 10% of annual reviews are subject to a suitability check: 20%.\n\u2022 0-10% of annual reviews are subject to a suitability check: 80%.\n\u2022 No annual reviews are suitability checked: 0%.\n\nAll surveyed firms understood the importance of reviewing ongoing advice.\n\nWhy they matter\n\nDavid Boyhan, TCC\u2019s Technical Director, said no-change reviews should not be ignored. From a risk perspective, these files can be high risk, particularly where a client\u2019s position has not changed for a number of years.\n\nThe absence of a new product recommendation is often why the files are overlooked, but ongoing suitability still needs verification. The checks are straightforward in principle: confirm a meaningful annual review occurred, check that client objectives and needs remain aligned with the advice, and confirm that attitude to risk and capacity for loss remain appropriate.\n\nApplying these checks consistently across large client bases is more difficult in practice.\n\nHow risk profiles shape review frequency\n\nProducts do not all carry the same risk. Drawdown accounts typically need more frequent scrutiny than ISAs. Clients who have not engaged for more than 12 months but are still paying fees also need file reviews to check they are benefiting from the services provided.\n\nThese nuances turn no-change reviews from routine paperwork into a compliance checkpoint.\n\nUsing AI to make it work\n\nNeil Dethick, TCC\u2019s Operations Director, described how AI is changing no-change review work in his managed services team. AI is not replacing human judgement; it is removing labour-intensive tasks.\n\nIt can flag cases that need attention, check for evidence of meaningful annual reviews and help reviewers RAG-rate files based on timeliness, documentation and client outcomes. The result is faster, more accurate assessment and clearer evidence of where processes work well and where improvement is needed.\n\nAdvisers receive targeted feedback without the combative back-and-forth that can accompany traditional compliance checks.\n\nFrom burden to collaborative insight\n\nSuitability reviews, whether for new business or ongoing advice, can provide valuable insight when handled well. Evidence-based feedback helps compliance teams and advisers work collaboratively. Patterns and trends become easier to identify, helping firms encourage positive behavioural change without adding extra costs.\n\nThis aligns with the FCA\u2019s \u201cshow me don\u2019t tell me\u201d approach. Firms need to evidence good outcomes and a reasonable sampling process. Without this, FCA censure is a real risk.\n\nNo-change review clients can represent a large share of a wealth manager\u2019s population, often exceeding new business clients. Ignoring them can increase compliance risk and future workload, so they should be treated as higher risk and built into business assurance models.\n\nBringing it to life\n\nA free consultancy review was offered for ongoing services cases. The first five requests would receive a sample assessment of 100 client files to show current compliance standards and improvement actions, helping turn no-change reviews from a compliance obligation into a source of practical insight.", "wordCount": 564, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "No-change reviews" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "text": "Suitability reviews are often treated as a routine compliance step during new business. Quieter cases can pose greater risk: annual reviews where the advice is that nothing should change." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "The reality of no change reviews", "text": "During a webinar, attendees were asked how often they formally undertake a suitability assessment as part of a client\u2019s annual review, even where the advice is no change.\n\n\u2022 More than 10% of annual reviews are subject to a suitability check: 20%.\n\u2022 0-10% of annual reviews are subject to a suitability check: 80%.\n\u2022 No annual reviews are suitability checked: 0%.\n\nAll surveyed firms understood the importance of reviewing ongoing advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "Why they matter", "text": "David Boyhan, TCC\u2019s Technical Director, said no-change reviews should not be ignored. From a risk perspective, these files can be high risk, particularly where a client\u2019s position has not changed for a number of years.\n\nThe absence of a new product recommendation is often why the files are overlooked, but ongoing suitability still needs verification. The checks are straightforward in principle: confirm a meaningful annual review occurred, check that client objectives and needs remain aligned with the advice, and confirm that attitude to risk and capacity for loss remain appropriate.\n\nApplying these checks consistently across large client bases is more difficult in practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "How risk profiles shape review frequency", "text": "Products do not all carry the same risk. Drawdown accounts typically need more frequent scrutiny than ISAs. Clients who have not engaged for more than 12 months but are still paying fees also need file reviews to check they are benefiting from the services provided.\n\nThese nuances turn no-change reviews from routine paperwork into a compliance checkpoint." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "Using AI to make it work", "text": "Neil Dethick, TCC\u2019s Operations Director, described how AI is changing no-change review work in his managed services team. AI is not replacing human judgement; it is removing labour-intensive tasks.\n\nIt can flag cases that need attention, check for evidence of meaningful annual reviews and help reviewers RAG-rate files based on timeliness, documentation and client outcomes. The result is faster, more accurate assessment and clearer evidence of where processes work well and where improvement is needed.\n\nAdvisers receive targeted feedback without the combative back-and-forth that can accompany traditional compliance checks." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "From burden to collaborative insight", "text": "Suitability reviews, whether for new business or ongoing advice, can provide valuable insight when handled well. Evidence-based feedback helps compliance teams and advisers work collaboratively. Patterns and trends become easier to identify, helping firms encourage positive behavioural change without adding extra costs.\n\nThis aligns with the FCA\u2019s \u201cshow me don\u2019t tell me\u201d approach. Firms need to evidence good outcomes and a reasonable sampling process. Without this, FCA censure is a real risk.\n\nNo-change review clients can represent a large share of a wealth manager\u2019s population, often exceeding new business clients. Ignoring them can increase compliance risk and future workload, so they should be treated as higher risk and built into business assurance models." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "headline": "Bringing it to life", "text": "A free consultancy review was offered for ongoing services cases. The first five requests would receive a sample assessment of 100 client files to show current compliance standards and improvement actions, helping turn no-change reviews from a compliance obligation into a source of practical insight." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-no-change-reviews-into-insightful-compliance-opportunities/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why can no-change reviews be high risk?", "acceptedAnswer": { "@type": "Answer", "text": "Clients whose position has not changed for years may still need their ongoing suitability verified." } }, { "@type": "Question", "name": "What checks should firms make?", "acceptedAnswer": { "@type": "Answer", "text": "They should confirm a meaningful annual review occurred, check that objectives and needs still align with advice, and review attitude to risk and capacity for loss." } }, { "@type": "Question", "name": "How can AI support no-change reviews?", "acceptedAnswer": { "@type": "Answer", "text": "AI can flag cases, check evidence of meaningful reviews and help reviewers RAG-rate files by timeliness, documentation and outcomes." } }, { "@type": "Question", "name": "What did the poll show?", "acceptedAnswer": { "@type": "Answer", "text": "It showed 20% checked more than 10% of annual reviews, 80% checked 0-10%, and 0% checked none." } } ] } ] } ``` ### Harnessing AI to transform suitability reviews into actionable insight - URL: https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/ - Published: 2025-10-13 - Modified: 2026-10-09 **Topic:** Suitability review MI AI helps firms turn suitability reviews into clearer management information, evidence packs and action plans. Technology supports reviewers, while judgement about advice suitability remains with people. #### Key points - Many firms struggle to turn suitability reviews into MI for root cause analysis. - AI can sort, prioritise and analyse documents so reviewers focus on judgement-led suitability decisions. - Evidence packs, dashboards and feedback can help leaders identify themes earlier. - TCC Managed Services has cut average handling times by over 40%. - AI enables higher-quality review but does not replace human judgement. During our first ‘AI in compliance’ webinar last week, TCC’s Operations Director, Neil Dethick, turned the spotlight on a familiar challenge within wealth management - how to extract truly meaningful Management Information (MI) from suitability reviews. Despite their potential, these reviews often fail to deliver the insight firms need to drive real improvement in compliance and advice quality. Attendees were asked how confident they were that their current file review processes provide MI capable of accurately identifying key findings, themes and trends to support meaningful root cause analysis. While a small fraction of respondees felt extremely confident in the insights their processes delivered, the majority were only somewhat confident, and a notable minority admitted to having little faith at all. This snapshot underscored a familiar industry challenge: many firms struggle to turn file reviews into actionable intelligence that drives real improvements. #### Balancing quality and cost Yet amidst these challenges, some firms are already operating at a higher level – Neil’s analogy to a “Marks and Spencer” approach to suitability reviews perfectly captured this balance. High-quality outcomes are achievable, but traditionally they come with increased time and cost. For compliance teams, this trade-off has often been a limiting factor. The question then arises: is it possible to deliver higher-quality suitability reviews without inflating costs or slowing down processes? The answer as discussed during the webinar, called out the importance of harnessing AI. By embedding AI at both the front and back end of the file review process, organisations are seeing dramatic efficiencies. At the front end, AI can help with the labour-intensive work of sorting and prioritising documents, filtering by date and relevance and presenting the reviewer with the key facts. Know-your-customer (KYC) information, product performance data and client discussion themes such as risk appetite or previous investment experience can all be surfaced instantly. This allows human reviewers to focus exclusively on what AI cannot replicate such as nuanced judgment about whether the advice provided is genuinely suitable. #### Driving evidence and reporting Simultaneously, the right kind of AI can build an evidence support pack, signposting the adviser to the specific documentation underpinning each suitability aspect. This ensures clarity and accountability while driving detailed reporting and MI generation. Themes and trends are identified early, key issues are addressed before they escalate and remedial actions can be recommended swiftly. For compliance leaders, real-time dashboards and instant feedback are no longer a pipe dream, they are operational realities. #### Driving evidence and reporting While the FCA has positioned the scheme as straightforward and automatable, the underlying data tells a different story. The regulator’s own estimates suggest operational costs of £2.8 billion, excluding the redress payments themselves – equating to roughly £240 per agreement for the 11.7 million customers thought likely to opt in o the redress scheme. This scale highlights the multifaceted nature of the work involved. Automation may handle a portion of the redress calculations but manual intervention will still be needed across key stages such as legacy data retrieval, validation, tracing customers, handling deceased estates and managing those cases where collections and/ or enforcement activity was involved. Firms will need flexible and auditable systems, scalable resourcing models and strong governance to maintain accuracy and fairness throughout the process. #### Benefits that make a real difference The results of this approach are providing striking results. When used by the TCC Managed Services team, average handling times for file reviews have been cut by over 40%, directly reducing costs. In turn, advisers receive highly accurate and specific feedback, improving standards and outcomes. #### Human judgment remains essential Despite these advances, AI is a powerful enabler, not a replacement for human judgment. Non-human suitability reviews remain years away. The ideal model blends human expertise with AI efficiency, using technology to elevate and not replace the nuanced decision-making that underpins effective financial advice. #### AI as a strategic lever Recordsure technology which is utilised by TCC’s experts is not just a tool for compliance efficiency; it is a strategic lever. When applied, it allows firms to deliver higher-quality reviews, extract actionable insights and continuously raise the bar on advice standards – all without incurring prohibitive time or cost. By rapidly processing and analysing advice documentation, Recordsure technology helps firms maintain compliance with confidence, flagging missing evidence and streamlining workflows for advisers. With proven results across millions of documents, it allows your team to focus on high-value decision-making while AI handles the heavy lifting of review, reporting, and evidence management. [Book your complimentary ‘business-as-usual’ analysis](/technology/document-intelligence/) today and let our experts: - Review up to 100 client files from 2025 - Deliver a deep-dive, TCC-led compliance analysis - Provide an actionable MI pack and report - Present findings in a board playback session > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Harnessing AI to transform suitability reviews into actionable insight", "item": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/", "name": "Harnessing AI to transform suitability reviews into actionable insight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-13T15:19:23+01:00", "dateModified": "2025-10-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Harnessing AI to transform suitability reviews into actionable insight", "datePublished": "2025-10-13T15:19:23+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3e4fa08f4bdc409886ca46ffdea697dd/thumbnail-1024-90ae280fc7448bcc5cfe280c3ce64c0c8e934af5588f138066a12c376a0ca270.jpg", "description": "AI can help wealth managers turn suitability reviews into usable management information, reducing review effort while preserving human judgement over advice quality and suitability.", "inLanguage": "en-GB", "articleBody": "AI helps firms turn suitability reviews into clearer management information, evidence packs and action plans. Technology supports reviewers, while judgement about advice suitability remains with people.\n\nDuring our first \u2018AI in compliance\u2019 webinar last week, TCC\u2019s Operations Director, Neil Dethick, turned the spotlight on a familiar challenge within wealth management - how to extract truly meaningful Management Information (MI) from suitability reviews.\n\nDespite their potential, these reviews often fail to deliver the insight firms need to drive real improvement in compliance and advice quality.\n\nAttendees were asked how confident they were that their current file review processes provide MI capable of accurately identifying key findings, themes and trends to support meaningful root cause analysis. While a small fraction of respondees felt extremely confident in the insights their processes delivered, the majority were only somewhat confident, and a notable minority admitted to having little faith at all. This snapshot underscored a familiar industry challenge: many firms struggle to turn file reviews into actionable intelligence that drives real improvements.\n\nBalancing quality and cost\n\nYet amidst these challenges, some firms are already operating at a higher level \u2013 Neil\u2019s analogy to a \u201cMarks and Spencer\u201d approach to suitability reviews perfectly captured this balance. High-quality outcomes are achievable, but traditionally they come with increased time and cost. For compliance teams, this trade-off has often been a limiting factor. The question then arises: is it possible to deliver higher-quality suitability reviews without inflating costs or slowing down processes?\n\nThe answer as discussed during the webinar, called out the importance of harnessing AI. By embedding AI at both the front and back end of the file review process, organisations are seeing dramatic efficiencies. At the front end, AI can help with the labour-intensive work of sorting and prioritising documents, filtering by date and relevance and presenting the reviewer with the key facts. Know-your-customer (KYC) information, product performance data and client discussion themes such as risk appetite or previous investment experience can all be surfaced instantly. This allows human reviewers to focus exclusively on what AI cannot replicate such as nuanced judgment about whether the advice provided is genuinely suitable.\n\nDriving evidence and reporting\n\nSimultaneously, the right kind of AI can build an evidence support pack, signposting the adviser to the specific documentation underpinning each suitability aspect. This ensures clarity and accountability while driving detailed reporting and MI generation. Themes and trends are identified early, key issues are addressed before they escalate and remedial actions can be recommended swiftly. For compliance leaders, real-time dashboards and instant feedback are no longer a pipe dream, they are operational realities.\n\nDriving evidence and reporting\n\nWhile the FCA has positioned the scheme as straightforward and automatable, the underlying data tells a different story. The regulator\u2019s own estimates suggest operational costs of \u00a32.8 billion, excluding the redress payments themselves \u2013 equating to roughly \u00a3240 per agreement for the 11.7 million customers thought likely to opt in o the redress scheme.\n\nThis scale highlights the multifaceted nature of the work involved. Automation may handle a portion of the redress calculations but manual intervention will still be needed across key stages such as legacy data retrieval, validation, tracing customers, handling deceased estates and managing those cases where collections and/ or enforcement activity was involved. Firms will need flexible and auditable systems, scalable resourcing models and strong governance to maintain accuracy and fairness throughout the process.\n\nBenefits that make a real difference\n\nThe results of this approach are providing striking results. When used by the TCC Managed Services team, average handling times for file reviews have been cut by over 40%, directly reducing costs. In turn, advisers receive highly accurate and specific feedback, improving standards and outcomes.\n\nHuman judgment remains essential\n\nDespite these advances, AI is a powerful enabler, not a replacement for human judgment. Non-human suitability reviews remain years away. The ideal model blends human expertise with AI efficiency, using technology to elevate and not replace the nuanced decision-making that underpins effective financial advice.\n\nAI as a strategic lever\n\nRecordsure technology which is utilised by TCC\u2019s experts is not just a tool for compliance efficiency; it is a strategic lever. When applied, it allows firms to deliver higher-quality reviews, extract actionable insights and continuously raise the bar on advice standards \u2013 all without incurring prohibitive time or cost.\n\nBy rapidly processing and analysing advice documentation, Recordsure technology helps firms maintain compliance with confidence, flagging missing evidence and streamlining workflows for advisers. With proven results across millions of documents, it allows your team to focus on high-value decision-making while AI handles the heavy lifting of review, reporting, and evidence management.\n\nBook your complimentary \u2018business-as-usual\u2019 analysis today and let our experts:\n\n\u2022 Review up to 100 client files from 2025\n\n\u2022 Deliver a deep-dive, TCC-led compliance analysis\n\n\u2022 Provide an actionable MI pack and report\n\n\u2022 Present findings in a board playback session", "wordCount": 807, "keywords": [ "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Suitability review MI" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "text": "During our first \u2018AI in compliance\u2019 webinar last week, TCC\u2019s Operations Director, Neil Dethick, turned the spotlight on a familiar challenge within wealth management - how to extract truly meaningful Management Information (MI) from suitability reviews.\n\nDespite their potential, these reviews often fail to deliver the insight firms need to drive real improvement in compliance and advice quality.\n\nAttendees were asked how confident they were that their current file review processes provide MI capable of accurately identifying key findings, themes and trends to support meaningful root cause analysis. While a small fraction of respondees felt extremely confident in the insights their processes delivered, the majority were only somewhat confident, and a notable minority admitted to having little faith at all. This snapshot underscored a familiar industry challenge: many firms struggle to turn file reviews into actionable intelligence that drives real improvements." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Balancing quality and cost", "text": "Yet amidst these challenges, some firms are already operating at a higher level \u2013 Neil\u2019s analogy to a \u201cMarks and Spencer\u201d approach to suitability reviews perfectly captured this balance. High-quality outcomes are achievable, but traditionally they come with increased time and cost. For compliance teams, this trade-off has often been a limiting factor. The question then arises: is it possible to deliver higher-quality suitability reviews without inflating costs or slowing down processes?\n\nThe answer as discussed during the webinar, called out the importance of harnessing AI. By embedding AI at both the front and back end of the file review process, organisations are seeing dramatic efficiencies. At the front end, AI can help with the labour-intensive work of sorting and prioritising documents, filtering by date and relevance and presenting the reviewer with the key facts. Know-your-customer (KYC) information, product performance data and client discussion themes such as risk appetite or previous investment experience can all be surfaced instantly. This allows human reviewers to focus exclusively on what AI cannot replicate such as nuanced judgment about whether the advice provided is genuinely suitable." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Driving evidence and reporting", "text": "Simultaneously, the right kind of AI can build an evidence support pack, signposting the adviser to the specific documentation underpinning each suitability aspect. This ensures clarity and accountability while driving detailed reporting and MI generation. Themes and trends are identified early, key issues are addressed before they escalate and remedial actions can be recommended swiftly. For compliance leaders, real-time dashboards and instant feedback are no longer a pipe dream, they are operational realities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Driving evidence and reporting", "text": "While the FCA has positioned the scheme as straightforward and automatable, the underlying data tells a different story. The regulator\u2019s own estimates suggest operational costs of \u00a32.8 billion, excluding the redress payments themselves \u2013 equating to roughly \u00a3240 per agreement for the 11.7 million customers thought likely to opt in o the redress scheme.\n\nThis scale highlights the multifaceted nature of the work involved. Automation may handle a portion of the redress calculations but manual intervention will still be needed across key stages such as legacy data retrieval, validation, tracing customers, handling deceased estates and managing those cases where collections and/ or enforcement activity was involved. Firms will need flexible and auditable systems, scalable resourcing models and strong governance to maintain accuracy and fairness throughout the process." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Benefits that make a real difference", "text": "The results of this approach are providing striking results. When used by the TCC Managed Services team, average handling times for file reviews have been cut by over 40%, directly reducing costs. In turn, advisers receive highly accurate and specific feedback, improving standards and outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "Human judgment remains essential", "text": "Despite these advances, AI is a powerful enabler, not a replacement for human judgment. Non-human suitability reviews remain years away. The ideal model blends human expertise with AI efficiency, using technology to elevate and not replace the nuanced decision-making that underpins effective financial advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "headline": "AI as a strategic lever", "text": "Recordsure technology which is utilised by TCC\u2019s experts is not just a tool for compliance efficiency; it is a strategic lever. When applied, it allows firms to deliver higher-quality reviews, extract actionable insights and continuously raise the bar on advice standards \u2013 all without incurring prohibitive time or cost.\n\nBy rapidly processing and analysing advice documentation, Recordsure technology helps firms maintain compliance with confidence, flagging missing evidence and streamlining workflows for advisers. With proven results across millions of documents, it allows your team to focus on high-value decision-making while AI handles the heavy lifting of review, reporting, and evidence management.\n\nBook your complimentary \u2018business-as-usual\u2019 analysis today and let our experts:\n\n\u2022 Review up to 100 client files from 2025\n\n\u2022 Deliver a deep-dive, TCC-led compliance analysis\n\n\u2022 Provide an actionable MI pack and report\n\n\u2022 Present findings in a board playback session" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/harnessing-ai-to-transform-suitability-reviews-into-actionable-insight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What problem does the webinar address?", "acceptedAnswer": { "@type": "Answer", "text": "It addresses the difficulty wealth managers face in turning suitability reviews into management information that identifies findings, themes and trends for root cause analysis." } }, { "@type": "Question", "name": "How can AI support suitability reviews?", "acceptedAnswer": { "@type": "Answer", "text": "AI can sort and prioritise documents, surface KYC information, product performance data and client discussion themes, and build evidence packs for reviewers." } }, { "@type": "Question", "name": "Should AI replace human reviewers?", "acceptedAnswer": { "@type": "Answer", "text": "No. It says AI should support human expertise, while judgement about whether advice is genuinely suitable remains with reviewers." } }, { "@type": "Question", "name": "What efficiency result is cited?", "acceptedAnswer": { "@type": "Answer", "text": "When used by TCC Managed Services, average handling times for file reviews have been cut by over 40%." } } ] } ] } ``` ### Attivo deploys Recordsure’s AI technology to evidence its ongoing advice compliance and cut file review costs - URL: https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/ - Published: 2025-10-09 - Modified: 2026-10-09 **Topic:** Advice file reviews Attivo has implemented Recordsure’s predictive AI technology to analyse files, flag higher-risk cases and focus skilled reviewers where judgement is needed. Early results include lower unclear suitability ratings, faster turnaround and reduced review cost. #### Key points - Attivo uses Recordsure technology to analyse data and flag potentially non-compliant cases for human review. - Skilled reviewers can focus on determining suitability in high-risk cases rather than reviewing every document cover to cover. - Within the first six months, Attivo reduced average cost per case review by 40%. - The work combines Recordsure technology with TCC compliance expertise to align the solution with Attivo’s practices. [Attivo](https://attivo.co.uk/), a forward-thinking and rapidly growing independent financial advice firm, has implemented Recordsure’s predictive AI technology to enhance ongoing advice compliance, support consistent and compliant service delivery and reduce the cost of file reviews. Attivo uses Recordsure technology to analyse its data and flag potentially non-compliant cases for human review. With instant access to essential data and insights, the firm can focus 100% of its skilled people’s time on determining suitability in high-risk cases rather than reviewing all documents cover to cover. #### Combining AI and compliance expertise Recordsure combines AI technology with the regulatory expertise of its sister company, TCC. TCC’s expert compliance practitioners have worked with Attivo to refine compliance practices and ensure the AI solution is aligned to unlock value. Early results include first-time unclear suitability ratings reduced to less than 10% and improved customer outcomes. Within the first six months, Attivo achieved a 40% reduction in cost per case review on average and completed over 1,000 file reviews with an average turnaround time of only two days. #### Attivo’s view Jo French, CEO at Attivo, said: “Attivo selected Recordsure technology to take care of the heavy lifting of our ongoing advice file checking. We have confidence that 100% of our files have been checked, ensuring quality of outcome and compliance. With Recordsure’s predictive AI solutions, we’ve been able to unlock cost savings and introduce process efficiencies across the client advice journey.” #### TCC and Recordsure’s view TCC and Recordsure’s CEO, Joe Norburn, said: “We’re excited to collaborate with Attivo and support the firm’s proactive approach to ongoing advice compliance. The unique combination of Recordsure’s AI technology and TCC’s compliance expertise has delivered measurable, high-impact results for Attivo – demonstrating the real value our AI brings to financial advice firms.” By implementing Recordsure technology, Attivo has tools to meet ongoing advice compliance requirements with greater speed, accuracy and cost-effectiveness, setting a new standard in intelligent, scalable compliance. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Attivo deploys Recordsure\u2019s AI technology to evidence its ongoing advice compliance and cut file review costs", "item": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/", "name": "Attivo deploys Recordsure\u2019s AI technology to evidence its ongoing advice compliance and cut file review costs", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-09T14:18:06+01:00", "dateModified": "2025-10-09T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-09" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Attivo deploys Recordsure\u2019s AI technology to evidence its ongoing advice compliance and cut file review costs", "datePublished": "2025-10-09T14:18:06+01:00", "dateModified": "2026-10-09T04:50:05+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6ba43f8a63fb4dbca0e9b909ec5a5c55/thumbnail-1024-70e38f9e1766a8ca8c4f623a0d2865b3888ae82a7e30e2b3d7420dde53f8c5f5.jpg", "description": "Attivo is using Recordsure technology to target high-risk ongoing advice files, evidence compliance, reduce review costs and improve oversight across its advice journey.", "inLanguage": "en-GB", "articleBody": "Attivo has implemented Recordsure\u2019s predictive AI technology to analyse files, flag higher-risk cases and focus skilled reviewers where judgement is needed. Early results include lower unclear suitability ratings, faster turnaround and reduced review cost.\n\nAttivo, a forward-thinking and rapidly growing independent financial advice firm, has implemented Recordsure\u2019s predictive AI technology to enhance ongoing advice compliance, support consistent and compliant service delivery and reduce the cost of file reviews.\n\nAttivo uses Recordsure technology to analyse its data and flag potentially non-compliant cases for human review. With instant access to essential data and insights, the firm can focus 100% of its skilled people\u2019s time on determining suitability in high-risk cases rather than reviewing all documents cover to cover.\n\nCombining AI and compliance expertise\n\nRecordsure combines AI technology with the regulatory expertise of its sister company, TCC. TCC\u2019s expert compliance practitioners have worked with Attivo to refine compliance practices and ensure the AI solution is aligned to unlock value.\n\nEarly results include first-time unclear suitability ratings reduced to less than 10% and improved customer outcomes. Within the first six months, Attivo achieved a 40% reduction in cost per case review on average and completed over 1,000 file reviews with an average turnaround time of only two days.\n\nAttivo\u2019s view\n\nJo French, CEO at Attivo, said: \u201cAttivo selected Recordsure technology to take care of the heavy lifting of our ongoing advice file checking. We have confidence that 100% of our files have been checked, ensuring quality of outcome and compliance. With Recordsure\u2019s predictive AI solutions, we\u2019ve been able to unlock cost savings and introduce process efficiencies across the client advice journey.\u201d\n\nTCC and Recordsure\u2019s view\n\nTCC and Recordsure\u2019s CEO, Joe Norburn, said: \u201cWe\u2019re excited to collaborate with Attivo and support the firm\u2019s proactive approach to ongoing advice compliance. The unique combination of Recordsure\u2019s AI technology and TCC\u2019s compliance expertise has delivered measurable, high-impact results for Attivo \u2013 demonstrating the real value our AI brings to financial advice firms.\u201d\n\nBy implementing Recordsure technology, Attivo has tools to meet ongoing advice compliance requirements with greater speed, accuracy and cost-effectiveness, setting a new standard in intelligent, scalable compliance.", "wordCount": 351, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice file reviews" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "inLanguage": "en-GB", "text": "Attivo, a forward-thinking and rapidly growing independent financial advice firm, has implemented Recordsure\u2019s predictive AI technology to enhance ongoing advice compliance, support consistent and compliant service delivery and reduce the cost of file reviews.\n\nAttivo uses Recordsure technology to analyse its data and flag potentially non-compliant cases for human review. With instant access to essential data and insights, the firm can focus 100% of its skilled people\u2019s time on determining suitability in high-risk cases rather than reviewing all documents cover to cover." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "inLanguage": "en-GB", "headline": "Combining AI and compliance expertise", "text": "Recordsure combines AI technology with the regulatory expertise of its sister company, TCC. TCC\u2019s expert compliance practitioners have worked with Attivo to refine compliance practices and ensure the AI solution is aligned to unlock value.\n\nEarly results include first-time unclear suitability ratings reduced to less than 10% and improved customer outcomes. Within the first six months, Attivo achieved a 40% reduction in cost per case review on average and completed over 1,000 file reviews with an average turnaround time of only two days." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "inLanguage": "en-GB", "headline": "Attivo\u2019s view", "text": "Jo French, CEO at Attivo, said: \u201cAttivo selected Recordsure technology to take care of the heavy lifting of our ongoing advice file checking. We have confidence that 100% of our files have been checked, ensuring quality of outcome and compliance. With Recordsure\u2019s predictive AI solutions, we\u2019ve been able to unlock cost savings and introduce process efficiencies across the client advice journey.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "inLanguage": "en-GB", "headline": "TCC and Recordsure\u2019s view", "text": "TCC and Recordsure\u2019s CEO, Joe Norburn, said: \u201cWe\u2019re excited to collaborate with Attivo and support the firm\u2019s proactive approach to ongoing advice compliance. The unique combination of Recordsure\u2019s AI technology and TCC\u2019s compliance expertise has delivered measurable, high-impact results for Attivo \u2013 demonstrating the real value our AI brings to financial advice firms.\u201d\n\nBy implementing Recordsure technology, Attivo has tools to meet ongoing advice compliance requirements with greater speed, accuracy and cost-effectiveness, setting a new standard in intelligent, scalable compliance." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/attivo-deploys-recordsure-technology-to-evidence-its-ongoing-advice-compliance-and-cut-file-review-costs/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why did Attivo implement Recordsure technology?", "acceptedAnswer": { "@type": "Answer", "text": "Attivo implemented it to enhance ongoing advice compliance, support consistent and compliant service delivery and reduce the cost of file reviews." } }, { "@type": "Question", "name": "How does the technology change review activity?", "acceptedAnswer": { "@type": "Answer", "text": "It analyses data and flags potentially non-compliant cases so skilled people can focus on determining suitability in high-risk files." } }, { "@type": "Question", "name": "What early results are reported?", "acceptedAnswer": { "@type": "Answer", "text": "Early results include first-time unclear suitability ratings below 10%, a 40% average reduction in cost per case review, over 1,000 file reviews and an average turnaround time of two days." } } ] } ] } ``` ### Turning suitability reviews into a strategic advantage - URL: https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/ - Published: 2025-10-08 - Modified: 2026-10-09 **Topic:** Suitability improvement Webinar polling and transcript material show how suitability reviews can reduce rework and improve adviser performance. FCA expectations on risk-based sampling align with TCC’s collaborative file review process. #### Key points - 42% of polled firms said 10-20% of advice files needed rework after review. - 29% reported 20-30% of cases needing rework, and 29% reported less than 10%. - The FCA expects monitoring to focus on higher-risk client interactions. - TCC reported right-first-time rates improving from the low 60s to nearly 90%. TCC and Recordsure’s AI for compliance webinar series included a focused discussion on suitability reviews. The second excerpt explored how firms can move beyond tick-box checking to improve client outcomes, reduce rework and strengthen adviser performance. Suitability review can genuinely improve client outcomes when firms stop simply ticking boxes. Advice file rework also creates delays in demonstrating that suitable advice has been delivered. #### The hidden costs of poor suitability checks The webinar asked what proportion of advice files currently need rework after a suitability review. Almost half of respondents, 42%, said between 10 and 20% of files. Another 29% said between 20 and 30%, and 29% said less than 10%. No respondents said more than 30%, and 0% were unsure. The findings reflect a familiar issue: even where checks exist, files can receive unclear ratings that take advisers away from profitable activity, create additional work and delay evidence that suitable advice was delivered. For some firms, a rework rate below 10% is almost unheard of. Garry Evans asked the audience to consider the hidden costs of suitability checking done badly and high levels of unclear ratings. He noted that many past clients would have sat in the more-than-30% category for cases needing rework or receiving an initial unclear rating. The result revealed a spread of experience across the industry, with no firms indicating that more than 30% of cases required rework and some reporting less than 10%. The finding underscores the reality that many clients’ cases initially carry unclear ratings. Those ratings create inefficiencies and additional work, and can take advisers away from other activities. #### Meeting regulatory expectations TCC’s Technical Director, David Boyhan, discussed the FCA’s expectations for risk-based sampling. He noted that the point had been reinforced by [Lucy Castledine, Director of Consumer Investments at the FCA, during the PIMFA conference](https://www.fca.org.uk/news/speeches/regulatory-perspective-and-priorities-2025). The regulator expects firms to focus monitoring on higher-risk interactions with clients, including both new product recommendations and ongoing advice. Suitability should be assessed consistently across client touchpoints. The webinar identified reviewing around 10% of files as good practice, with higher volumes for higher-risk areas such as new advisers or complex products including drawdown and VCTs. Results should inform future sampling volumes: positive findings may allow lower review volumes, but short- to medium-term monitoring remains important to evidence suitable client outcomes. David Boyhan said the timing was relevant because the FCA’s expectations around sampling had been amplified by Lucy Castledine’s speech. He explained that, as a risk-based regulator, the FCA expects firms to take a risk-based approach to monitoring. He also said initial and ongoing advice files need to be reviewed in sampling models. Historically, some models focused on initial advice, but ongoing advice is now a key part of many business models and needs monitoring for suitability. David Boyhan said monitoring should cover where there is a new product recommendation and where no new products are recommended. Volumes should be increased in high-risk areas and informed by the findings of previous file reviews, so good outcomes can be evidenced over time. He described around 10% of file reviews as generally seen as good practice, while recognising that high-risk products and new advisers may require more. Where findings are positive, review volumes could be decreased, but the key is to keep monitoring outcomes over the short to medium term. David Boyhan highlighted that the regulator’s expectation is continuous monitoring rather than one isolated sample. He outlined that the range should be adjusted where risk is higher, and that reductions are only appropriate where evidence supports them. #### A collaborative review process Neil Dethick explained that TCC starts by understanding the firm’s business, including detailed discussions with compliance teams, review of advice policies and standards, and understanding of the advice and sales process. Where a file is rated unclear or unsuitable, the process provides a concise 15-minute pathway to suitability. Advisers and paraplanners are engaged through case clinics, workshops and training videos so insights are acted upon rather than simply reported. The process also includes commentary on evidence of adherence to the four Consumer Duty outcomes in each file review, building board-level MI on how the firm is delivering good client outcomes. Neil Dethick said that an end-to-end collaborative review service starts with understanding the nature of the business being reviewed. That includes discussion with compliance teams, examination of advice policy and standards, and understanding the advice and sales process. He explained that TCC communicates directly with advisers and paraplanners through case clinics, and provides bespoke best-practice workshops and videos to support adviser development. File reviews also include commentary on evidence against the four Consumer Duty outcomes. The process is intended to provide a tangible pathway to resolution whenever a file is unclear or unsuitable. It is not only a file-checking exercise: it uses consultation, case clinics and adviser development to make sure the findings are understood and acted on. Adviser and paraplanner engagement is central. The review output is accompanied by clear steps, best-practice support and management information that can be taken to boards. This differs from a narrow check because it is structured as a collaborative, end-to-end process. It aims to explain what needs to happen, provide actionable resolution steps and make sure adviser development is documented. #### Driving real change TCC also provides monthly or quarterly reporting on findings, key themes and trends, with recommendations for future process improvements from advisory subject matter experts. Firms working with TCC over the past ten months improved right-first-time rates from the low 60s to nearly 90%. Aggregated percentages built over that period and almost reached 90% in the latest month. Feedback only matters if recipients use it to drive behavioural change. Suitability reviews are most effective when detailed analysis, clear guidance and follow-up are combined. Firms seeking similar improvements can enhance adviser performance, strengthen compliance and turn suitability reviews into a business advantage. Neil Dethick described reporting on findings, key themes and trends at monthly or quarterly intervals. Subject matter experts in the advisory team can then recommend process improvements. Garry Evans framed the improvement as an example of partnership, noting that feedback, MI and intent do not make a difference unless the recipient uses the information to drive behavioural change. The full webinar was positioned as a way to explore the TCC suitability review process in detail, see how AI can support but not replace human expertise, and identify practical ways to reduce rework while improving client outcomes. Comprehensive reporting covers the findings, themes and trends noted through the review process. Those reports can then support recommendations for process improvement and help firms understand where advice standards, policy or training need attention. The full webinar explains how the process works, how AI can support but not replace human expertise, and how practical changes can reduce rework while improving client outcomes. The change was a dramatic turnaround, with suitability ratios improving as the programme built over time. It is a measurable example of what can happen when firms integrate feedback into operations. The closing message was that firms can achieve similar improvements by acting now: strengthening compliance, improving adviser performance and turning suitability reviews into a genuine business advantage. #### Supporting sources - [FCA regulatory perspective and priorities 2025](https://www.fca.org.uk/news/speeches/regulatory-perspective-and-priorities-2025) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Turning suitability reviews into a strategic advantage", "item": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/", "name": "Turning suitability reviews into a strategic advantage", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-08T14:30:11+01:00", "dateModified": "2025-10-08T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-08" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Turning suitability reviews into a strategic advantage", "datePublished": "2025-10-08T14:30:11+01:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/33b5486ea6f248a081ea8ed198cdbdcb/thumbnail-1024-dedc27ea7a0905b437d32a931e80dd5ef264774178c138273004881ba1b52ec2.jpg", "description": "Suitability reviews can become a source of adviser improvement and customer outcome evidence when firms combine risk-based sampling, clear feedback and follow-up.", "inLanguage": "en-GB", "articleBody": "Webinar polling and transcript material show how suitability reviews can reduce rework and improve adviser performance. FCA expectations on risk-based sampling align with TCC\u2019s collaborative file review process.\n\nTCC and Recordsure\u2019s AI for compliance webinar series included a focused discussion on suitability reviews. The second excerpt explored how firms can move beyond tick-box checking to improve client outcomes, reduce rework and strengthen adviser performance.\n\nSuitability review can genuinely improve client outcomes when firms stop simply ticking boxes. Advice file rework also creates delays in demonstrating that suitable advice has been delivered.\n\nThe hidden costs of poor suitability checks\n\nThe webinar asked what proportion of advice files currently need rework after a suitability review. Almost half of respondents, 42%, said between 10 and 20% of files. Another 29% said between 20 and 30%, and 29% said less than 10%. No respondents said more than 30%, and 0% were unsure.\n\nThe findings reflect a familiar issue: even where checks exist, files can receive unclear ratings that take advisers away from profitable activity, create additional work and delay evidence that suitable advice was delivered. For some firms, a rework rate below 10% is almost unheard of.\n\nGarry Evans asked the audience to consider the hidden costs of suitability checking done badly and high levels of unclear ratings. He noted that many past clients would have sat in the more-than-30% category for cases needing rework or receiving an initial unclear rating.\n\nThe result revealed a spread of experience across the industry, with no firms indicating that more than 30% of cases required rework and some reporting less than 10%.\n\nThe finding underscores the reality that many clients\u2019 cases initially carry unclear ratings. Those ratings create inefficiencies and additional work, and can take advisers away from other activities.\n\nMeeting regulatory expectations\n\nTCC\u2019s Technical Director, David Boyhan, discussed the FCA\u2019s expectations for risk-based sampling. He noted that the point had been reinforced by Lucy Castledine, Director of Consumer Investments at the FCA, during the PIMFA conference.\n\nThe regulator expects firms to focus monitoring on higher-risk interactions with clients, including both new product recommendations and ongoing advice. Suitability should be assessed consistently across client touchpoints.\n\nThe webinar identified reviewing around 10% of files as good practice, with higher volumes for higher-risk areas such as new advisers or complex products including drawdown and VCTs. Results should inform future sampling volumes: positive findings may allow lower review volumes, but short- to medium-term monitoring remains important to evidence suitable client outcomes.\n\nDavid Boyhan said the timing was relevant because the FCA\u2019s expectations around sampling had been amplified by Lucy Castledine\u2019s speech. He explained that, as a risk-based regulator, the FCA expects firms to take a risk-based approach to monitoring.\n\nHe also said initial and ongoing advice files need to be reviewed in sampling models. Historically, some models focused on initial advice, but ongoing advice is now a key part of many business models and needs monitoring for suitability.\n\nDavid Boyhan said monitoring should cover where there is a new product recommendation and where no new products are recommended. Volumes should be increased in high-risk areas and informed by the findings of previous file reviews, so good outcomes can be evidenced over time.\n\nHe described around 10% of file reviews as generally seen as good practice, while recognising that high-risk products and new advisers may require more. Where findings are positive, review volumes could be decreased, but the key is to keep monitoring outcomes over the short to medium term.\n\nDavid Boyhan highlighted that the regulator\u2019s expectation is continuous monitoring rather than one isolated sample. He outlined that the range should be adjusted where risk is higher, and that reductions are only appropriate where evidence supports them.\n\nA collaborative review process\n\nNeil Dethick explained that TCC starts by understanding the firm\u2019s business, including detailed discussions with compliance teams, review of advice policies and standards, and understanding of the advice and sales process.\n\nWhere a file is rated unclear or unsuitable, the process provides a concise 15-minute pathway to suitability. Advisers and paraplanners are engaged through case clinics, workshops and training videos so insights are acted upon rather than simply reported.\n\nThe process also includes commentary on evidence of adherence to the four Consumer Duty outcomes in each file review, building board-level MI on how the firm is delivering good client outcomes.\n\nNeil Dethick said that an end-to-end collaborative review service starts with understanding the nature of the business being reviewed. That includes discussion with compliance teams, examination of advice policy and standards, and understanding the advice and sales process.\n\nHe explained that TCC communicates directly with advisers and paraplanners through case clinics, and provides bespoke best-practice workshops and videos to support adviser development. File reviews also include commentary on evidence against the four Consumer Duty outcomes.\n\nThe process is intended to provide a tangible pathway to resolution whenever a file is unclear or unsuitable. It is not only a file-checking exercise: it uses consultation, case clinics and adviser development to make sure the findings are understood and acted on.\n\nAdviser and paraplanner engagement is central. The review output is accompanied by clear steps, best-practice support and management information that can be taken to boards.\n\nThis differs from a narrow check because it is structured as a collaborative, end-to-end process. It aims to explain what needs to happen, provide actionable resolution steps and make sure adviser development is documented.\n\nDriving real change\n\nTCC also provides monthly or quarterly reporting on findings, key themes and trends, with recommendations for future process improvements from advisory subject matter experts.\n\nFirms working with TCC over the past ten months improved right-first-time rates from the low 60s to nearly 90%. Aggregated percentages built over that period and almost reached 90% in the latest month.\n\nFeedback only matters if recipients use it to drive behavioural change. Suitability reviews are most effective when detailed analysis, clear guidance and follow-up are combined.\n\nFirms seeking similar improvements can enhance adviser performance, strengthen compliance and turn suitability reviews into a business advantage.\n\nNeil Dethick described reporting on findings, key themes and trends at monthly or quarterly intervals. Subject matter experts in the advisory team can then recommend process improvements.\n\nGarry Evans framed the improvement as an example of partnership, noting that feedback, MI and intent do not make a difference unless the recipient uses the information to drive behavioural change.\n\nThe full webinar was positioned as a way to explore the TCC suitability review process in detail, see how AI can support but not replace human expertise, and identify practical ways to reduce rework while improving client outcomes.\n\nComprehensive reporting covers the findings, themes and trends noted through the review process. Those reports can then support recommendations for process improvement and help firms understand where advice standards, policy or training need attention.\n\nThe full webinar explains how the process works, how AI can support but not replace human expertise, and how practical changes can reduce rework while improving client outcomes.\n\nThe change was a dramatic turnaround, with suitability ratios improving as the programme built over time. It is a measurable example of what can happen when firms integrate feedback into operations.\n\nThe closing message was that firms can achieve similar improvements by acting now: strengthening compliance, improving adviser performance and turning suitability reviews into a genuine business advantage.", "wordCount": 1216, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Suitability improvement" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA regulatory perspective and priorities 2025", "url": "https://www.fca.org.uk/news/speeches/regulatory-perspective-and-priorities-2025" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "text": "TCC and Recordsure\u2019s AI for compliance webinar series included a focused discussion on suitability reviews. The second excerpt explored how firms can move beyond tick-box checking to improve client outcomes, reduce rework and strengthen adviser performance.\n\nSuitability review can genuinely improve client outcomes when firms stop simply ticking boxes. Advice file rework also creates delays in demonstrating that suitable advice has been delivered." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "The hidden costs of poor suitability checks", "text": "The webinar asked what proportion of advice files currently need rework after a suitability review. Almost half of respondents, 42%, said between 10 and 20% of files. Another 29% said between 20 and 30%, and 29% said less than 10%. No respondents said more than 30%, and 0% were unsure.\n\nThe findings reflect a familiar issue: even where checks exist, files can receive unclear ratings that take advisers away from profitable activity, create additional work and delay evidence that suitable advice was delivered. For some firms, a rework rate below 10% is almost unheard of.\n\nGarry Evans asked the audience to consider the hidden costs of suitability checking done badly and high levels of unclear ratings. He noted that many past clients would have sat in the more-than-30% category for cases needing rework or receiving an initial unclear rating.\n\nThe result revealed a spread of experience across the industry, with no firms indicating that more than 30% of cases required rework and some reporting less than 10%.\n\nThe finding underscores the reality that many clients\u2019 cases initially carry unclear ratings. Those ratings create inefficiencies and additional work, and can take advisers away from other activities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Meeting regulatory expectations", "text": "TCC\u2019s Technical Director, David Boyhan, discussed the FCA\u2019s expectations for risk-based sampling. He noted that the point had been reinforced by Lucy Castledine, Director of Consumer Investments at the FCA, during the PIMFA conference.\n\nThe regulator expects firms to focus monitoring on higher-risk interactions with clients, including both new product recommendations and ongoing advice. Suitability should be assessed consistently across client touchpoints.\n\nThe webinar identified reviewing around 10% of files as good practice, with higher volumes for higher-risk areas such as new advisers or complex products including drawdown and VCTs. Results should inform future sampling volumes: positive findings may allow lower review volumes, but short- to medium-term monitoring remains important to evidence suitable client outcomes.\n\nDavid Boyhan said the timing was relevant because the FCA\u2019s expectations around sampling had been amplified by Lucy Castledine\u2019s speech. He explained that, as a risk-based regulator, the FCA expects firms to take a risk-based approach to monitoring.\n\nHe also said initial and ongoing advice files need to be reviewed in sampling models. Historically, some models focused on initial advice, but ongoing advice is now a key part of many business models and needs monitoring for suitability.\n\nDavid Boyhan said monitoring should cover where there is a new product recommendation and where no new products are recommended. Volumes should be increased in high-risk areas and informed by the findings of previous file reviews, so good outcomes can be evidenced over time.\n\nHe described around 10% of file reviews as generally seen as good practice, while recognising that high-risk products and new advisers may require more. Where findings are positive, review volumes could be decreased, but the key is to keep monitoring outcomes over the short to medium term.\n\nDavid Boyhan highlighted that the regulator\u2019s expectation is continuous monitoring rather than one isolated sample. He outlined that the range should be adjusted where risk is higher, and that reductions are only appropriate where evidence supports them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "A collaborative review process", "text": "Neil Dethick explained that TCC starts by understanding the firm\u2019s business, including detailed discussions with compliance teams, review of advice policies and standards, and understanding of the advice and sales process.\n\nWhere a file is rated unclear or unsuitable, the process provides a concise 15-minute pathway to suitability. Advisers and paraplanners are engaged through case clinics, workshops and training videos so insights are acted upon rather than simply reported.\n\nThe process also includes commentary on evidence of adherence to the four Consumer Duty outcomes in each file review, building board-level MI on how the firm is delivering good client outcomes.\n\nNeil Dethick said that an end-to-end collaborative review service starts with understanding the nature of the business being reviewed. That includes discussion with compliance teams, examination of advice policy and standards, and understanding the advice and sales process.\n\nHe explained that TCC communicates directly with advisers and paraplanners through case clinics, and provides bespoke best-practice workshops and videos to support adviser development. File reviews also include commentary on evidence against the four Consumer Duty outcomes.\n\nThe process is intended to provide a tangible pathway to resolution whenever a file is unclear or unsuitable. It is not only a file-checking exercise: it uses consultation, case clinics and adviser development to make sure the findings are understood and acted on.\n\nAdviser and paraplanner engagement is central. The review output is accompanied by clear steps, best-practice support and management information that can be taken to boards.\n\nThis differs from a narrow check because it is structured as a collaborative, end-to-end process. It aims to explain what needs to happen, provide actionable resolution steps and make sure adviser development is documented." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Driving real change", "text": "TCC also provides monthly or quarterly reporting on findings, key themes and trends, with recommendations for future process improvements from advisory subject matter experts.\n\nFirms working with TCC over the past ten months improved right-first-time rates from the low 60s to nearly 90%. Aggregated percentages built over that period and almost reached 90% in the latest month.\n\nFeedback only matters if recipients use it to drive behavioural change. Suitability reviews are most effective when detailed analysis, clear guidance and follow-up are combined.\n\nFirms seeking similar improvements can enhance adviser performance, strengthen compliance and turn suitability reviews into a business advantage.\n\nNeil Dethick described reporting on findings, key themes and trends at monthly or quarterly intervals. Subject matter experts in the advisory team can then recommend process improvements.\n\nGarry Evans framed the improvement as an example of partnership, noting that feedback, MI and intent do not make a difference unless the recipient uses the information to drive behavioural change.\n\nThe full webinar was positioned as a way to explore the TCC suitability review process in detail, see how AI can support but not replace human expertise, and identify practical ways to reduce rework while improving client outcomes.\n\nComprehensive reporting covers the findings, themes and trends noted through the review process. Those reports can then support recommendations for process improvement and help firms understand where advice standards, policy or training need attention.\n\nThe full webinar explains how the process works, how AI can support but not replace human expertise, and how practical changes can reduce rework while improving client outcomes.\n\nThe change was a dramatic turnaround, with suitability ratios improving as the programme built over time. It is a measurable example of what can happen when firms integrate feedback into operations.\n\nThe closing message was that firms can achieve similar improvements by acting now: strengthening compliance, improving adviser performance and turning suitability reviews into a genuine business advantage." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-into-a-strategic-advantage/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What rework levels did firms report?", "acceptedAnswer": { "@type": "Answer", "text": "The poll showed 42% reported 10-20% of files needing rework, 29% reported 20-30%, 29% reported less than 10%, and 0% reported more than 30%." } }, { "@type": "Question", "name": "What are the FCA expectations?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects firms to focus monitoring on higher-risk interactions, covering both new product recommendations and ongoing advice." } }, { "@type": "Question", "name": "What review volume was described as good practice?", "acceptedAnswer": { "@type": "Answer", "text": "Reviewing around 10% of files was described as good practice, with higher volumes for higher-risk areas." } }, { "@type": "Question", "name": "What improvement did TCC report?", "acceptedAnswer": { "@type": "Answer", "text": "Firms working with TCC improved right-first-time rates from the low 60s to nearly 90% over ten months." } } ] } ] } ``` ### FCA announces 14 million motor loan customers to be eligible for compensation - URL: https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/ - Published: 2025-10-07 - Modified: 2026-10-09 **Topic:** Motor finance redress The FCA wants an industry-wide motor finance compensation scheme for customers treated unfairly between 6 April 2007 and 1 November 2024. Firms need to understand eligibility, deadlines and redress exposure. #### Key points - The proposed scheme covers customers treated unfairly from 6 April 2007 to 1 November 2024. - The FCA estimates 14.2 million motor finance agreements may be eligible for the scheme. - Expected take-up is about 85%, with estimated redress liability of £8.2 billion including interest. - The consultation closes on 18 November 2025, with final rules and launch aimed for early 2026. [The FCA released its update on the motor finance redress scheme](https://www.fca.org.uk/news/press-releases/14m-unfair-motor-loans-compensation-proposed-scheme), marking one of the most significant shifts in the motor finance landscape in years. The FCA wants to set up an [industry-wide compensation redress scheme](https://www.fca.org.uk/news/statements/fca-consults-motor-finance-compensation-scheme) to reimburse motor finance customers who were treated unfairly from 6 April 2007 to 1 November 2024. The scheme focuses on cases where lenders paid commission to brokers, or had contractual ties, but failed to disclose them adequately to consumers. The redress scheme is expected to cover agreements with discretionary commission arrangements, high commission levels or exclusive contractual ties. #### Estimated eligibility and redress - The proposals estimate that [14.2 million motor finance agreements](https://www.fca.org.uk/news/press-releases/14m-unfair-motor-loans-compensation-proposed-scheme) may be eligible for the scheme. - The FCA expects about 85% take-up, giving an estimated redress liability of £8.2 billion including interest. If all eligible consumers participated, redress could reach up to £9.7 billion. - The average compensation per agreement is estimated at around £700. #### Key dates The FCA is consulting on extending the deadline for firms to issue final responses to motor finance complaints to 31 July 2026. The **consultation closes on 18 November 2025**, and the FCA aims to publish final rules and launch the scheme in early 2026. #### Implications for motor finance firms With questions already mounting around liability, remediation and customer impact, firms need to cut through the noise and understand what the proposed scheme means for their own business. [**Join our webinar**](https://us06web.zoom.us/webinar/register/WN_jMLCxLWSSv2b5aeFQYFwkg#/registration) to understand the rules, risks and road ahead. [Register for our webinar](https://us06web.zoom.us/webinar/register/WN_jMLCxLWSSv2b5aeFQYFwkg#/registration) #### Supporting sources - [FCA press release on proposed motor finance compensation scheme](https://www.fca.org.uk/news/press-releases/14m-unfair-motor-loans-compensation-proposed-scheme) - [FCA consultation on motor finance compensation scheme](https://www.fca.org.uk/news/statements/fca-consults-motor-finance-compensation-scheme) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA announces 14 million motor loan customers to be eligible for compensation", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/", "name": "FCA announces 14 million motor loan customers to be eligible for compensation", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-07T16:52:52+01:00", "dateModified": "2025-10-07T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-07" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA announces 14 million motor loan customers to be eligible for compensation", "datePublished": "2025-10-07T16:52:52+01:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/cc9a042987ef47e9ac06507597c3d596/thumbnail-1600-1ba5ece2ab963a0ebe38aa792f072c08638a8a58616127fbde3f3645aa3ed641.jpg", "description": "The FCA\u2019s proposed motor finance redress scheme could cover millions of agreements, making evidence, liability assessment and remediation planning urgent for firms.", "inLanguage": "en-GB", "articleBody": "The FCA wants an industry-wide motor finance compensation scheme for customers treated unfairly between 6 April 2007 and 1 November 2024. Firms need to understand eligibility, deadlines and redress exposure.\n\nThe FCA released its update on the motor finance redress scheme, marking one of the most significant shifts in the motor finance landscape in years.\n\nThe FCA wants to set up an industry-wide compensation redress scheme to reimburse motor finance customers who were treated unfairly from 6 April 2007 to 1 November 2024. The scheme focuses on cases where lenders paid commission to brokers, or had contractual ties, but failed to disclose them adequately to consumers.\n\nThe redress scheme is expected to cover agreements with discretionary commission arrangements, high commission levels or exclusive contractual ties.\n\nEstimated eligibility and redress\n\n\u2022 The proposals estimate that 14.2 million motor finance agreements may be eligible for the scheme.\n\u2022 The FCA expects about 85% take-up, giving an estimated redress liability of \u00a38.2 billion including interest. If all eligible consumers participated, redress could reach up to \u00a39.7 billion.\n\u2022 The average compensation per agreement is estimated at around \u00a3700.\n\nKey dates\n\nThe FCA is consulting on extending the deadline for firms to issue final responses to motor finance complaints to 31 July 2026.\n\nThe consultation closes on 18 November 2025, and the FCA aims to publish final rules and launch the scheme in early 2026.\n\nImplications for motor finance firms\n\nWith questions already mounting around liability, remediation and customer impact, firms need to cut through the noise and understand what the proposed scheme means for their own business.\n\nJoin our webinar to understand the rules, risks and road ahead.\n\nRegister for our webinar", "wordCount": 279, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Motor finance redress" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA press release on proposed motor finance compensation scheme", "url": "https://www.fca.org.uk/news/press-releases/14m-unfair-motor-loans-compensation-proposed-scheme" }, { "@type": "CreativeWork", "name": "FCA consultation on motor finance compensation scheme", "url": "https://www.fca.org.uk/news/statements/fca-consults-motor-finance-compensation-scheme" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "inLanguage": "en-GB", "text": "The FCA released its update on the motor finance redress scheme, marking one of the most significant shifts in the motor finance landscape in years.\n\nThe FCA wants to set up an industry-wide compensation redress scheme to reimburse motor finance customers who were treated unfairly from 6 April 2007 to 1 November 2024. The scheme focuses on cases where lenders paid commission to brokers, or had contractual ties, but failed to disclose them adequately to consumers.\n\nThe redress scheme is expected to cover agreements with discretionary commission arrangements, high commission levels or exclusive contractual ties." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "inLanguage": "en-GB", "headline": "Estimated eligibility and redress", "text": "\u2022 The proposals estimate that 14.2 million motor finance agreements may be eligible for the scheme.\n\u2022 The FCA expects about 85% take-up, giving an estimated redress liability of \u00a38.2 billion including interest. If all eligible consumers participated, redress could reach up to \u00a39.7 billion.\n\u2022 The average compensation per agreement is estimated at around \u00a3700." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "inLanguage": "en-GB", "headline": "Key dates", "text": "The FCA is consulting on extending the deadline for firms to issue final responses to motor finance complaints to 31 July 2026.\n\nThe consultation closes on 18 November 2025, and the FCA aims to publish final rules and launch the scheme in early 2026." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "inLanguage": "en-GB", "headline": "Implications for motor finance firms", "text": "With questions already mounting around liability, remediation and customer impact, firms need to cut through the noise and understand what the proposed scheme means for their own business.\n\nJoin our webinar to understand the rules, risks and road ahead.\n\nRegister for our webinar" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-redress-scheme/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is the proposed redress scheme intended to reimburse?", "acceptedAnswer": { "@type": "Answer", "text": "It is intended for motor finance customers treated unfairly from 6 April 2007 to 1 November 2024 where commission or contractual ties were not adequately disclosed." } }, { "@type": "Question", "name": "How many agreements may be eligible?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA estimates that 14.2 million motor finance agreements may be eligible for the proposed scheme." } }, { "@type": "Question", "name": "What liability does the FCA estimate?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects about 85% take-up and estimates redress liability of \u00a38.2 billion including interest, rising to \u00a39.7 billion if all eligible consumers participate." } }, { "@type": "Question", "name": "When does the consultation close?", "acceptedAnswer": { "@type": "Answer", "text": "The consultation closes on 18 November 2025, and the FCA aims to publish final rules and launch the scheme in early 2026." } } ] } ] } ``` ### Secrets of AI Agents - URL: https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/ - Published: 2025-10-07 - Modified: 2025-10-07 **Topic:** Agentic AI AI agents are not new, and building every part of an agentic system from generative LLMs compounds the risk of confidently wrong answers. Safe enterprise Agentic AI depends on careful component selection, confidence thresholds with an ‘I don’t know’ opt-out, security and traceability, and appropriate human oversight. #### Key points - AI agents are not new: software agents date back to the 1950s, and AI has long been used inside them, from Clippy in 1996 to Alexa Skills in 2015. - In an agentic system, the Client parses, reasons and orchestrates, while AI Agents act as Servers that register skills and respond via protocols such as MCP. - If five chained LLM steps are each 90% accurate, there is a 41% chance the final answer is wrong; with ten agents, two in three answers are wrong. - Predictive AI alone returns an answer with a probability score, letting systems apply confidence thresholds and an ‘I don’t know’ opt-out. - MIT and McKinsey surveys show only around 10% of Generative AI projects leave pilot, and only about 5% deliver a return on investment. Recordsure’s CTO, Kit Ruparel, has been a long-standing advocate of selecting appropriate AI for the job in hand: Predictive AI for uncovering and interpreting content, and Generative AI for creating new content. As AI Agent technologies ride the crest of the hype wave, Kit fears that the ease of entry into Agentic AI is pushing companies into not looking closely enough at the AI and other methods being used underneath those agentic covers. This article seeks to demystify this ‘new’ technology and to help clarify how it is most appropriately developed and used. #### The big secret Shhh… *AI Agents are not new*. Software Agents – ‘autonomous’ units of software dedicated to a purpose, but that react and respond to the requests of users or other programs – were first conceptualised in the 1950s, and became mainstream in the 80s with software patterns such as distributed systems and microservice architectures. Whilst such program modules were designed to perform tasks autonomously, they were typically based on predefined rules (“code”) – so they were Software Agents rather than AI Agents… unless engineers put AI inside them. AI, the fashionable moniker that mostly covers machine learning technologies that can also trace their roots back to the 1950s, has increasingly been used inside those agentic software modules. This suggests that there is a very good chance you’ve been using applications that make use of AI Agents for many years. Way back in 1996, when you sat down in front of Microsoft Word to type up your grandmother’s spaghetti carbonara recipe and Clippy appeared, offering to help you prepare your ‘formal business letter’, you began your love-or-loathe relationship with an AI Agent. Then, in 2015, when Amazon launched the Alexa Skills Kit, so you could ask the Echo in your kitchen how to make Boeuf Bourguignon or to play Capital FM, they effectively released an Agentic AI framework. It allowed third-party developers to build Skills (Agents) that would register their capabilities with your Echo, which would parse your request and route it to the Recipe or Radio skill that seemed most appropriate. AI has obviously evolved over the years, as has the implied meaning of the term. Today’s hype exists because the Generative AI (or GenAI) community has co-opted the Agentic AI terms to mean ‘an end-to-end application ecosystem comprising Generative LLMs (Large Language Models) everywhere’ – and the confusion this has caused is not necessarily a good thing. That’s not to say that GenAI hasn’t brought a lot of new toys to the Agentic playground, but let’s come back to that later. #### The secret agent quiz night The induction event at your new secret agent job is a quiz night. You’ve been selected as a team captain, whilst Mo, Sally and Tabby have joined your team. Of course, the recruitment process was all very secretive, so you don’t know any of your team from Adam. There’s not much time for introductions, but as the quizmaster gives his microphone the one-two one-twos, Mo quickly tells you his specialist subject is music, Sally that she’s a real soccer fan, and Tabby that she’s a tech freak. The first question is about the pre-game eating habits of some Arsenal player. You’re not sporty enough to have a clue what the answer might be, but you at least know that Arsenal is a UK football team, so you defer to Soccer Sally – and she nails it. First point in the bag, and everyone happily takes a deep chug of their beer. In the agentic technology world, you’ve just played the roles of a ‘Parser’, interpreting the question; a ‘Reasoner’, deciding that you couldn’t answer the question directly based on your own limited knowledge but that another might; and an ‘Orchestrator’, deferring the question to one of your agents – Sally, because she ‘registered her skill’ with you concerning UK football knowledge. You asked Sally the question using a common ‘communications contract’ between you (the English language), taking her response via the same contracted language. Then, finally, your ‘Reasoning’ decided to trust her response based on your ‘confidence’ in it, rather than simply answering “we don’t know” or making up a different answer yourself. Question two arrives and asks about the naming origins of the UK electronic band ‘808 State’. You’re far too young to have a scooby, but hearing the word ‘band’, you figure this must be one for Music Mo. Mo thinks about it, then comes back with: “808 is the US police penal code for ‘disturbing the peace’, and social disruption was all the music rage back in the 80s. It must be the answer.” This makes sense to you, but you also heard the word ‘electronic’ in the question, so you decide to give Tech Tabitha a shot too. She comes back with: “I think there was a popular electronic drum machine in the 80s called the Roland TR-808 – I think maybe that was it?” Now you’ve got two options on the table. But the question was about a band called ‘808 State’, not ‘TR-808 State’; Mohammed registered himself as the music expert and this question seems to be about music; and he seemed more confident in his answer than Timid Tabby. So you again use your Reasoning capabilities and unfortunately elect to go with ‘disturbing the peace’. The next sip of beer is much more reserved. #### The Agentic Client, Parser, Reasoner and Orchestrator There are various technological elements to an Agentic framework and, depending on what you read, these can vary and are often described in quite complex ways. To keep things simple here, the key components that matter most are described, hopefully, in terms the non-technorati can understand. Some form of request or requirement needs to be fulfilled, so, as with most software applications, there is a ‘Client’ – something that makes a request, usually on behalf of a human user. Today’s most well-known Agentic Clients are ChatGPT for consumers and Microsoft Copilot for enterprise users. However, as you will have experienced, every CRM, communications tool, website and other piece of software out there is getting into the Agentic Client game – something that is about as welcome as Microsoft Clippy for many users. Then something needs to interpret that request (the ‘Parser’). Once the request is ‘understood’, it needs to be responded to directly or broken down into sub-tasks (by a ‘Reasoner’), before each sub-task is routed (by an ‘Orchestrator’) to one or more Agents. Technically, these can be four separate technological components. In reality, however, the Parser, Reasoner and Orchestrator are today an integrated part of the Client – the fourth role that you were performing as the team captain at the quiz night. #### The Agentic Server The Client-Server paradigm is the most prevalent software pattern in the industry, so Agentic AI frameworks refer to the AI Agents as Servers – as they are responding to the requests of the Clients. As you were the Agentic Client on quiz night, Mo, Sally and Tabby were the Agentic Servers. Agentic Servers need to tell the Client what they \[believe they\] are capable of – described in the quiz night example as ‘registering a skill’ – whilst the Client and Server need to be able to exchange requests and responses using a ‘communications contract’. Before LLMs introduced themselves to the Agentic AI world, communications contracts between software components were very formal and very fragmented across the industry, with every vendor creating and publishing its own ‘API’ (Application Programming Interface). Standards such as SOAP (the Simple Object Access Protocol), CORBA (the Common Object Request Broker Architecture) and OAS (the OpenAPI Specification) emerged to try to standardise, a little, how APIs operated across different software components and network architectures. But frankly, in most industries, we never really got our act together to create a single communications contract that would allow any piece of software to talk to any other. The biggest thing that’s changed with the advent of LLMs is that software can now talk to other software using *English* (or many other human languages) as its communications protocol. However, deciding what to say to each other was a bit of a free-for-all in the first year of the modern Agentic AI era. That was until Anthropic proposed and open-sourced the now widely adopted MCP (the Model Context Protocol), which provides a bit of groundwork for how to both register an agent skill and then communicate the follow-up request and response using English – essentially lending a bit of structure in the same way SOAP did for API services back in 1998. Then, whilst MCP is focused on Servers registering and communicating with Clients, it’s looking quite likely that it will be supplemented by the similar-but-different A2A (Agent-to-Agent) protocol from Google, intended to semi-standardise how the various Agentic Servers can talk to other Servers. English being at the core of new Client-Server-Server communications has truly opened up the opportunity for any software to talk to any other software, whether or not this Agentic system otherwise uses AI. However, it also means that rather than the dependable communications contracts we used to have in APIs, we are also inheriting the biggest problem with LLMs: their propensity to be unknowingly, but confidently, wrong. Amid the Agentic hype, the Generative AI community would also have you believe that all Server Agents should be built entirely from LLMs – especially given they need to Parse, Reason and potentially Orchestrate other Agents to provide a response. Yet again, this falsehood can increase the likelihood of them, and therefore the Agentic system as a whole, being confidently wrong. #### Being confidently wrong By now, everyone reading this blog post will have experienced both correct and incorrect AI summaries at the top of their Google search results, leaving you, the end user, to use your own judgement as to whether to believe or ignore them. Kit’s [previous blog articles](/insights/analysis-and-perspective/bohemian-accuracy/) have drilled into why LLMs are so often wrong, whilst the [Hugging Face Leaderboards](https://huggingface.co/docs/leaderboards/en/leaderboards/intro) demonstrate there is still a long way to go before LLMs provide trustworthy answers or reasoning. Those who have heard Kit Ruparel speak on AI also know that, as important as providing a correct result is, it is even *more* important that an AI system provides a probability score showing how confident it believes it is in its answer’s correctness – and that the lack of such a score is a fundamental weakness of Generative AI LLMs. They don’t provide an answer along with a confidence score, instead providing only a sequence of statistically likely text. Imagine how useful it would be if that AI answer at the top of your Google search results was accompanied by a single additional statement: “This AI generated answer is likely 94% correct.” You could then decide whether that 94% result is within your acceptable risk tolerance, based on your research use case, alongside your historic knowledge of how reliable Google has been at formulating that percentage probability of correctness. Today, only Predictive AI (or ‘traditional’ machine learning, if you prefer) provides both an answer *and* a probability score whose trustworthiness you can learn and bake into your application’s risk tolerance threshold. #### Playground whispers Returning to the agent quiz night example above, let’s look at everywhere an LLM might have been used in today’s Agentic AI world: for each of the agents to register their skills; to parse and reason over a quiz question; to decide which agent(s) to route the question to; for one or more agents to parse and reason over the question and provide an answer; and for the client to reason over the answers provided and formulate an ultimate response. That’s five different uses of LLMs, and if each use of an LLM only has a 90% chance of being accurate, then mathematically, there is a 41% chance that the final answer will be incorrect. If a more complex agentic mesh were in play, with 10 agents involved, each with a 90% accuracy level, then, statistically, two out of three final answers will be wrong. Confidently wrong. Using LLMs for every element of the Agentic AI ecosystem is akin to the old ‘Whispers’ game that you may have enjoyed in the playground as children – perhaps known by a less politically correct moniker at the time or, if you were in the USA, known as the ‘Telephone Game’. According to the rules of that game, each child in the chain had to pass on what they thought they heard. A more sensible outcome might have been achieved if each child had the option of saying “I’m 94% confident that I heard ‘Grandma wears blue shoes’”, and each next child in the chain then had the option of taking this information and potentially reasoning towards an “I don’t know” answer. But that would have been far less fun. #### Successful Agentic AI in the enterprise Thanks to Generative LLMs, Agentic AI is coming for your business, so it is your organisation’s responsibility to ensure that the implementation is both safe and makes your employees more productive. Productivity is obviously the purpose of these technologies. However, recent company surveys by respected institutions such as [MIT](https://mlq.ai/media/quarterly_decks/v0.1_State_of_AI_in_Business_2025_Report.pdf) and [McKinsey](https://www.mckinsey.com/capabilities/quantumblack/our-insights/seizing-the-agentic-ai-advantage) demonstrate that, today, only around 10% of Generative AI projects make it out of pilot purgatory, with only 5% or so actually providing a return on investment. Users instead find their time lost either to the ‘AI Verification Tax’ – spending more time checking and correcting those confidently wrong results than the time initially saved by having answers or content created for them – or to adding the meat to the ‘AI Workslop’, [defined by Harvard](https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity) as “AI generated content that masquerades as good work, but lacks the substance to meaningfully advance a given task.” This will change over time as AI scientists and developers build increasingly performant tools, so early adopters really need to start setting out their stalls for safe and responsible Agentic AI. Such a process must start with careful selection of agents and other AI components. The Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have ‘done the right thing’. Where componentry is developed in house, try to avoid LLMs unless text generation is truly required – most especially where an organisation owns both sides of the Client-Server or Server-Server equation. If you can define the communication contract between your services, then a restrictive and purposeful API is going to guarantee reliable consistency in a way that the ambiguities of natural language never will. Then, within agentic services themselves, build or prefer to use components that minimise technologies related to Generative AI when either Predictive AI, or even more straightforward procedural coding, will suffice. > The Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have ‘done the right thing’. Importantly, ensure each component in the framework is designed to opt out – to provide that “I don’t know” answer whenever there is uncertainty. For AI services using traditional machine learning, make sure you are in control of the confidence tolerance thresholds for the AI returning an answer, taking an action or providing the opt-out. Next, consider security, guardrails and traceability. This is where most organisations must surely turn to Microsoft, as Copilot and the Office suite will most commonly be the entry-point Client for business users, and Office documents will often be the desired output format. More pertinently, organisations using Microsoft Azure will turn to the security of the Azure Agent ID technologies, Microsoft’s Agentic monitoring and AI Content Safety guardrails, and the Purview AI data governance capabilities that Microsoft is rapidly evolving. Agentic AI components developed outside the Azure ecosystem will sensibly be turned down by most information security teams. Finally, ensure your Agentic AI system has an appropriate amount of human-in-the-loop – both for consumption, with users well trained in responsible use and best practice, and for monitoring, quality control and continuous improvement throughout the AI componentry mesh. #### Recordsure technology and agents Recordsure [develops and consumes AI responsibly](/responsible-ai/), with our products proven to improve productivity, yet with an appropriate amount of human-in-the-loop application to reduce rather than increase operational and conduct risk. Recordsure has used software agents (microservices) since our first product developments over a decade ago, with many of these agents providing or consuming AI capabilities – initially predictive machine learning technologies and, more recently, carefully designed Generative AI LLM usage where text actually needs to be generated. Traditional, dependable APIs are used wherever we own both halves of a communications contract between services, or where trusted suppliers are in the mix. Every AI element is designed with configurable and well-tested AI confidence thresholds, guardrails for LLM human input and responses, and monitoring and improvement methods throughout. As our clients look to integrate our products within their own Agentic ecosystems, we are working with the various emerging Microsoft AI and other Azure services to ensure that InfoSec teams can be confident of a natural fit into the security and supervision frameworks that will increasingly become part of their daily Agentic AI operations. *All images are 100% AI generated. All words are 100% human. Most mistakes are the proof-readers’.* #### Supporting sources - [Hugging Face Leaderboards](https://huggingface.co/docs/leaderboards/en/leaderboards/intro) - [State of AI in Business 2025 report (MIT)](https://mlq.ai/media/quarterly_decks/v0.1_State_of_AI_in_Business_2025_Report.pdf) - [Seizing the agentic AI advantage (McKinsey)](https://www.mckinsey.com/capabilities/quantumblack/our-insights/seizing-the-agentic-ai-advantage) - [AI-generated ‘workslop’ is destroying productivity (Harvard Business Review)](https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Secrets of AI Agents", "item": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/", "name": "Secrets of AI Agents", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-07T14:20:21+01:00", "dateModified": "2025-10-15T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-15" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Secrets of AI Agents", "datePublished": "2025-10-07T14:20:21+01:00", "dateModified": "2025-10-07T14:20:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/76738267768a44fea7c1b1598a7e44b9/thumbnail-1024-350cbd4e846a5cefa6698a6a7c47cae2fb61bb387b294b46a95b639c37d4ab75.jpg", "description": "Kit Ruparel, Recordsure\u2019s CTO, demystifies AI agents: what Agentic Clients, Servers and protocols such as MCP actually do, why chaining LLMs compounds confidently wrong answers, and how to build safe, productive Agentic AI in the enterprise.", "inLanguage": "en-GB", "articleBody": "AI agents are not new, and building every part of an agentic system from generative LLMs compounds the risk of confidently wrong answers. Safe enterprise Agentic AI depends on careful component selection, confidence thresholds with an \u2018I don\u2019t know\u2019 opt-out, security and traceability, and appropriate human oversight.\n\nRecordsure\u2019s CTO, Kit Ruparel, has been a long-standing advocate of selecting appropriate AI for the job in hand: Predictive AI for uncovering and interpreting content, and Generative AI for creating new content.\n\nAs AI Agent technologies ride the crest of the hype wave, Kit fears that the ease of entry into Agentic AI is pushing companies into not looking closely enough at the AI and other methods being used underneath those agentic covers. This article seeks to demystify this \u2018new\u2019 technology and to help clarify how it is most appropriately developed and used.\n\nThe big secret\n\nShhh\u2026 AI Agents are not new.\n\nSoftware Agents \u2013 \u2018autonomous\u2019 units of software dedicated to a purpose, but that react and respond to the requests of users or other programs \u2013 were first conceptualised in the 1950s, and became mainstream in the 80s with software patterns such as distributed systems and microservice architectures. Whilst such program modules were designed to perform tasks autonomously, they were typically based on predefined rules (\u201ccode\u201d) \u2013 so they were Software Agents rather than AI Agents\u2026 unless engineers put AI inside them.\n\nAI, the fashionable moniker that mostly covers machine learning technologies that can also trace their roots back to the 1950s, has increasingly been used inside those agentic software modules. This suggests that there is a very good chance you\u2019ve been using applications that make use of AI Agents for many years.\n\nWay back in 1996, when you sat down in front of Microsoft Word to type up your grandmother\u2019s spaghetti carbonara recipe and Clippy appeared, offering to help you prepare your \u2018formal business letter\u2019, you began your love-or-loathe relationship with an AI Agent.\n\nThen, in 2015, when Amazon launched the Alexa Skills Kit, so you could ask the Echo in your kitchen how to make Boeuf Bourguignon or to play Capital FM, they effectively released an Agentic AI framework. It allowed third-party developers to build Skills (Agents) that would register their capabilities with your Echo, which would parse your request and route it to the Recipe or Radio skill that seemed most appropriate.\n\nAI has obviously evolved over the years, as has the implied meaning of the term. Today\u2019s hype exists because the Generative AI (or GenAI) community has co-opted the Agentic AI terms to mean \u2018an end-to-end application ecosystem comprising Generative LLMs (Large Language Models) everywhere\u2019 \u2013 and the confusion this has caused is not necessarily a good thing.\n\nThat\u2019s not to say that GenAI hasn\u2019t brought a lot of new toys to the Agentic playground, but let\u2019s come back to that later.\n\nThe secret agent quiz night\n\nThe induction event at your new secret agent job is a quiz night. You\u2019ve been selected as a team captain, whilst Mo, Sally and Tabby have joined your team.\n\nOf course, the recruitment process was all very secretive, so you don\u2019t know any of your team from Adam.\n\nThere\u2019s not much time for introductions, but as the quizmaster gives his microphone the one-two one-twos, Mo quickly tells you his specialist subject is music, Sally that she\u2019s a real soccer fan, and Tabby that she\u2019s a tech freak.\n\nThe first question is about the pre-game eating habits of some Arsenal player. You\u2019re not sporty enough to have a clue what the answer might be, but you at least know that Arsenal is a UK football team, so you defer to Soccer Sally \u2013 and she nails it. First point in the bag, and everyone happily takes a deep chug of their beer.\n\nIn the agentic technology world, you\u2019ve just played the roles of a \u2018Parser\u2019, interpreting the question; a \u2018Reasoner\u2019, deciding that you couldn\u2019t answer the question directly based on your own limited knowledge but that another might; and an \u2018Orchestrator\u2019, deferring the question to one of your agents \u2013 Sally, because she \u2018registered her skill\u2019 with you concerning UK football knowledge. You asked Sally the question using a common \u2018communications contract\u2019 between you (the English language), taking her response via the same contracted language. Then, finally, your \u2018Reasoning\u2019 decided to trust her response based on your \u2018confidence\u2019 in it, rather than simply answering \u201cwe don\u2019t know\u201d or making up a different answer yourself.\n\nQuestion two arrives and asks about the naming origins of the UK electronic band \u2018808 State\u2019. You\u2019re far too young to have a scooby, but hearing the word \u2018band\u2019, you figure this must be one for Music Mo.\n\nMo thinks about it, then comes back with: \u201c808 is the US police penal code for \u2018disturbing the peace\u2019, and social disruption was all the music rage back in the 80s. It must be the answer.\u201d\n\nThis makes sense to you, but you also heard the word \u2018electronic\u2019 in the question, so you decide to give Tech Tabitha a shot too. She comes back with: \u201cI think there was a popular electronic drum machine in the 80s called the Roland TR-808 \u2013 I think maybe that was it?\u201d\n\nNow you\u2019ve got two options on the table. But the question was about a band called \u2018808 State\u2019, not \u2018TR-808 State\u2019; Mohammed registered himself as the music expert and this question seems to be about music; and he seemed more confident in his answer than Timid Tabby. So you again use your Reasoning capabilities and unfortunately elect to go with \u2018disturbing the peace\u2019. The next sip of beer is much more reserved.\n\nThe Agentic Client, Parser, Reasoner and Orchestrator\n\nThere are various technological elements to an Agentic framework and, depending on what you read, these can vary and are often described in quite complex ways. To keep things simple here, the key components that matter most are described, hopefully, in terms the non-technorati can understand.\n\nSome form of request or requirement needs to be fulfilled, so, as with most software applications, there is a \u2018Client\u2019 \u2013 something that makes a request, usually on behalf of a human user. Today\u2019s most well-known Agentic Clients are ChatGPT for consumers and Microsoft Copilot for enterprise users. However, as you will have experienced, every CRM, communications tool, website and other piece of software out there is getting into the Agentic Client game \u2013 something that is about as welcome as Microsoft Clippy for many users.\n\nThen something needs to interpret that request (the \u2018Parser\u2019). Once the request is \u2018understood\u2019, it needs to be responded to directly or broken down into sub-tasks (by a \u2018Reasoner\u2019), before each sub-task is routed (by an \u2018Orchestrator\u2019) to one or more Agents.\n\nTechnically, these can be four separate technological components. In reality, however, the Parser, Reasoner and Orchestrator are today an integrated part of the Client \u2013 the fourth role that you were performing as the team captain at the quiz night.\n\nThe Agentic Server\n\nThe Client-Server paradigm is the most prevalent software pattern in the industry, so Agentic AI frameworks refer to the AI Agents as Servers \u2013 as they are responding to the requests of the Clients.\n\nAs you were the Agentic Client on quiz night, Mo, Sally and Tabby were the Agentic Servers.\n\nAgentic Servers need to tell the Client what they [believe they] are capable of \u2013 described in the quiz night example as \u2018registering a skill\u2019 \u2013 whilst the Client and Server need to be able to exchange requests and responses using a \u2018communications contract\u2019.\n\nBefore LLMs introduced themselves to the Agentic AI world, communications contracts between software components were very formal and very fragmented across the industry, with every vendor creating and publishing its own \u2018API\u2019 (Application Programming Interface).\n\nStandards such as SOAP (the Simple Object Access Protocol), CORBA (the Common Object Request Broker Architecture) and OAS (the OpenAPI Specification) emerged to try to standardise, a little, how APIs operated across different software components and network architectures. But frankly, in most industries, we never really got our act together to create a single communications contract that would allow any piece of software to talk to any other.\n\nThe biggest thing that\u2019s changed with the advent of LLMs is that software can now talk to other software using English (or many other human languages) as its communications protocol.\n\nHowever, deciding what to say to each other was a bit of a free-for-all in the first year of the modern Agentic AI era. That was until Anthropic proposed and open-sourced the now widely adopted MCP (the Model Context Protocol), which provides a bit of groundwork for how to both register an agent skill and then communicate the follow-up request and response using English \u2013 essentially lending a bit of structure in the same way SOAP did for API services back in 1998.\n\nThen, whilst MCP is focused on Servers registering and communicating with Clients, it\u2019s looking quite likely that it will be supplemented by the similar-but-different A2A (Agent-to-Agent) protocol from Google, intended to semi-standardise how the various Agentic Servers can talk to other Servers.\n\nEnglish being at the core of new Client-Server-Server communications has truly opened up the opportunity for any software to talk to any other software, whether or not this Agentic system otherwise uses AI. However, it also means that rather than the dependable communications contracts we used to have in APIs, we are also inheriting the biggest problem with LLMs: their propensity to be unknowingly, but confidently, wrong.\n\nAmid the Agentic hype, the Generative AI community would also have you believe that all Server Agents should be built entirely from LLMs \u2013 especially given they need to Parse, Reason and potentially Orchestrate other Agents to provide a response. Yet again, this falsehood can increase the likelihood of them, and therefore the Agentic system as a whole, being confidently wrong.\n\nBeing confidently wrong\n\nBy now, everyone reading this blog post will have experienced both correct and incorrect AI summaries at the top of their Google search results, leaving you, the end user, to use your own judgement as to whether to believe or ignore them.\n\nKit\u2019s previous blog articles have drilled into why LLMs are so often wrong, whilst the Hugging Face Leaderboards demonstrate there is still a long way to go before LLMs provide trustworthy answers or reasoning.\n\nThose who have heard Kit Ruparel speak on AI also know that, as important as providing a correct result is, it is even more important that an AI system provides a probability score showing how confident it believes it is in its answer\u2019s correctness \u2013 and that the lack of such a score is a fundamental weakness of Generative AI LLMs. They don\u2019t provide an answer along with a confidence score, instead providing only a sequence of statistically likely text.\n\nImagine how useful it would be if that AI answer at the top of your Google search results was accompanied by a single additional statement: \u201cThis AI generated answer is likely 94% correct.\u201d You could then decide whether that 94% result is within your acceptable risk tolerance, based on your research use case, alongside your historic knowledge of how reliable Google has been at formulating that percentage probability of correctness.\n\nToday, only Predictive AI (or \u2018traditional\u2019 machine learning, if you prefer) provides both an answer and a probability score whose trustworthiness you can learn and bake into your application\u2019s risk tolerance threshold.\n\nPlayground whispers\n\nReturning to the agent quiz night example above, let\u2019s look at everywhere an LLM might have been used in today\u2019s Agentic AI world: for each of the agents to register their skills; to parse and reason over a quiz question; to decide which agent(s) to route the question to; for one or more agents to parse and reason over the question and provide an answer; and for the client to reason over the answers provided and formulate an ultimate response.\n\nThat\u2019s five different uses of LLMs, and if each use of an LLM only has a 90% chance of being accurate, then mathematically, there is a 41% chance that the final answer will be incorrect.\n\nIf a more complex agentic mesh were in play, with 10 agents involved, each with a 90% accuracy level, then, statistically, two out of three final answers will be wrong. Confidently wrong.\n\nUsing LLMs for every element of the Agentic AI ecosystem is akin to the old \u2018Whispers\u2019 game that you may have enjoyed in the playground as children \u2013 perhaps known by a less politically correct moniker at the time or, if you were in the USA, known as the \u2018Telephone Game\u2019. According to the rules of that game, each child in the chain had to pass on what they thought they heard. A more sensible outcome might have been achieved if each child had the option of saying \u201cI\u2019m 94% confident that I heard \u2018Grandma wears blue shoes\u2019\u201d, and each next child in the chain then had the option of taking this information and potentially reasoning towards an \u201cI don\u2019t know\u201d answer. But that would have been far less fun.\n\nSuccessful Agentic AI in the enterprise\n\nThanks to Generative LLMs, Agentic AI is coming for your business, so it is your organisation\u2019s responsibility to ensure that the implementation is both safe and makes your employees more productive.\n\nProductivity is obviously the purpose of these technologies. However, recent company surveys by respected institutions such as MIT and McKinsey demonstrate that, today, only around 10% of Generative AI projects make it out of pilot purgatory, with only 5% or so actually providing a return on investment.\n\nUsers instead find their time lost either to the \u2018AI Verification Tax\u2019 \u2013 spending more time checking and correcting those confidently wrong results than the time initially saved by having answers or content created for them \u2013 or to adding the meat to the \u2018AI Workslop\u2019, defined by Harvard as \u201cAI generated content that masquerades as good work, but lacks the substance to meaningfully advance a given task.\u201d\n\nThis will change over time as AI scientists and developers build increasingly performant tools, so early adopters really need to start setting out their stalls for safe and responsible Agentic AI.\n\nSuch a process must start with careful selection of agents and other AI components. The Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have \u2018done the right thing\u2019.\n\nWhere componentry is developed in house, try to avoid LLMs unless text generation is truly required \u2013 most especially where an organisation owns both sides of the Client-Server or Server-Server equation. If you can define the communication contract between your services, then a restrictive and purposeful API is going to guarantee reliable consistency in a way that the ambiguities of natural language never will.\n\nThen, within agentic services themselves, build or prefer to use components that minimise technologies related to Generative AI when either Predictive AI, or even more straightforward procedural coding, will suffice.\n\nThe Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have \u2018done the right thing\u2019.\n\nImportantly, ensure each component in the framework is designed to opt out \u2013 to provide that \u201cI don\u2019t know\u201d answer whenever there is uncertainty. For AI services using traditional machine learning, make sure you are in control of the confidence tolerance thresholds for the AI returning an answer, taking an action or providing the opt-out.\n\nNext, consider security, guardrails and traceability. This is where most organisations must surely turn to Microsoft, as Copilot and the Office suite will most commonly be the entry-point Client for business users, and Office documents will often be the desired output format.\n\nMore pertinently, organisations using Microsoft Azure will turn to the security of the Azure Agent ID technologies, Microsoft\u2019s Agentic monitoring and AI Content Safety guardrails, and the Purview AI data governance capabilities that Microsoft is rapidly evolving. Agentic AI components developed outside the Azure ecosystem will sensibly be turned down by most information security teams.\n\nFinally, ensure your Agentic AI system has an appropriate amount of human-in-the-loop \u2013 both for consumption, with users well trained in responsible use and best practice, and for monitoring, quality control and continuous improvement throughout the AI componentry mesh.\n\nRecordsure technology and agents\n\nRecordsure develops and consumes AI responsibly, with our products proven to improve productivity, yet with an appropriate amount of human-in-the-loop application to reduce rather than increase operational and conduct risk.\n\nRecordsure has used software agents (microservices) since our first product developments over a decade ago, with many of these agents providing or consuming AI capabilities \u2013 initially predictive machine learning technologies and, more recently, carefully designed Generative AI LLM usage where text actually needs to be generated.\n\nTraditional, dependable APIs are used wherever we own both halves of a communications contract between services, or where trusted suppliers are in the mix. Every AI element is designed with configurable and well-tested AI confidence thresholds, guardrails for LLM human input and responses, and monitoring and improvement methods throughout.\n\nAs our clients look to integrate our products within their own Agentic ecosystems, we are working with the various emerging Microsoft AI and other Azure services to ensure that InfoSec teams can be confident of a natural fit into the security and supervision frameworks that will increasingly become part of their daily Agentic AI operations.\n\nAll images are 100% AI generated. All words are 100% human. Most mistakes are the proof-readers\u2019.", "wordCount": 2946, "keywords": [ "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Agentic AI" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-8" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-9" } ], "citation": [ { "@type": "CreativeWork", "name": "Hugging Face Leaderboards", "url": "https://huggingface.co/docs/leaderboards/en/leaderboards/intro" }, { "@type": "CreativeWork", "name": "State of AI in Business 2025 report (MIT)", "url": "https://mlq.ai/media/quarterly_decks/v0.1_State_of_AI_in_Business_2025_Report.pdf" }, { "@type": "CreativeWork", "name": "Seizing the agentic AI advantage (McKinsey)", "url": "https://www.mckinsey.com/capabilities/quantumblack/our-insights/seizing-the-agentic-ai-advantage" }, { "@type": "CreativeWork", "name": "AI-generated \u2018workslop\u2019 is destroying productivity (Harvard Business Review)", "url": "https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure\u2019s CTO, Kit Ruparel, has been a long-standing advocate of selecting appropriate AI for the job in hand: Predictive AI for uncovering and interpreting content, and Generative AI for creating new content.\n\nAs AI Agent technologies ride the crest of the hype wave, Kit fears that the ease of entry into Agentic AI is pushing companies into not looking closely enough at the AI and other methods being used underneath those agentic covers. This article seeks to demystify this \u2018new\u2019 technology and to help clarify how it is most appropriately developed and used." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "The big secret", "text": "Shhh\u2026 AI Agents are not new.\n\nSoftware Agents \u2013 \u2018autonomous\u2019 units of software dedicated to a purpose, but that react and respond to the requests of users or other programs \u2013 were first conceptualised in the 1950s, and became mainstream in the 80s with software patterns such as distributed systems and microservice architectures. Whilst such program modules were designed to perform tasks autonomously, they were typically based on predefined rules (\u201ccode\u201d) \u2013 so they were Software Agents rather than AI Agents\u2026 unless engineers put AI inside them.\n\nAI, the fashionable moniker that mostly covers machine learning technologies that can also trace their roots back to the 1950s, has increasingly been used inside those agentic software modules. This suggests that there is a very good chance you\u2019ve been using applications that make use of AI Agents for many years.\n\nWay back in 1996, when you sat down in front of Microsoft Word to type up your grandmother\u2019s spaghetti carbonara recipe and Clippy appeared, offering to help you prepare your \u2018formal business letter\u2019, you began your love-or-loathe relationship with an AI Agent.\n\nThen, in 2015, when Amazon launched the Alexa Skills Kit, so you could ask the Echo in your kitchen how to make Boeuf Bourguignon or to play Capital FM, they effectively released an Agentic AI framework. It allowed third-party developers to build Skills (Agents) that would register their capabilities with your Echo, which would parse your request and route it to the Recipe or Radio skill that seemed most appropriate.\n\nAI has obviously evolved over the years, as has the implied meaning of the term. Today\u2019s hype exists because the Generative AI (or GenAI) community has co-opted the Agentic AI terms to mean \u2018an end-to-end application ecosystem comprising Generative LLMs (Large Language Models) everywhere\u2019 \u2013 and the confusion this has caused is not necessarily a good thing.\n\nThat\u2019s not to say that GenAI hasn\u2019t brought a lot of new toys to the Agentic playground, but let\u2019s come back to that later." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "The secret agent quiz night", "text": "The induction event at your new secret agent job is a quiz night. You\u2019ve been selected as a team captain, whilst Mo, Sally and Tabby have joined your team.\n\nOf course, the recruitment process was all very secretive, so you don\u2019t know any of your team from Adam.\n\nThere\u2019s not much time for introductions, but as the quizmaster gives his microphone the one-two one-twos, Mo quickly tells you his specialist subject is music, Sally that she\u2019s a real soccer fan, and Tabby that she\u2019s a tech freak.\n\nThe first question is about the pre-game eating habits of some Arsenal player. You\u2019re not sporty enough to have a clue what the answer might be, but you at least know that Arsenal is a UK football team, so you defer to Soccer Sally \u2013 and she nails it. First point in the bag, and everyone happily takes a deep chug of their beer.\n\nIn the agentic technology world, you\u2019ve just played the roles of a \u2018Parser\u2019, interpreting the question; a \u2018Reasoner\u2019, deciding that you couldn\u2019t answer the question directly based on your own limited knowledge but that another might; and an \u2018Orchestrator\u2019, deferring the question to one of your agents \u2013 Sally, because she \u2018registered her skill\u2019 with you concerning UK football knowledge. You asked Sally the question using a common \u2018communications contract\u2019 between you (the English language), taking her response via the same contracted language. Then, finally, your \u2018Reasoning\u2019 decided to trust her response based on your \u2018confidence\u2019 in it, rather than simply answering \u201cwe don\u2019t know\u201d or making up a different answer yourself.\n\nQuestion two arrives and asks about the naming origins of the UK electronic band \u2018808 State\u2019. You\u2019re far too young to have a scooby, but hearing the word \u2018band\u2019, you figure this must be one for Music Mo.\n\nMo thinks about it, then comes back with: \u201c808 is the US police penal code for \u2018disturbing the peace\u2019, and social disruption was all the music rage back in the 80s. It must be the answer.\u201d\n\nThis makes sense to you, but you also heard the word \u2018electronic\u2019 in the question, so you decide to give Tech Tabitha a shot too. She comes back with: \u201cI think there was a popular electronic drum machine in the 80s called the Roland TR-808 \u2013 I think maybe that was it?\u201d\n\nNow you\u2019ve got two options on the table. But the question was about a band called \u2018808 State\u2019, not \u2018TR-808 State\u2019; Mohammed registered himself as the music expert and this question seems to be about music; and he seemed more confident in his answer than Timid Tabby. So you again use your Reasoning capabilities and unfortunately elect to go with \u2018disturbing the peace\u2019. The next sip of beer is much more reserved." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "The Agentic Client, Parser, Reasoner and Orchestrator", "text": "There are various technological elements to an Agentic framework and, depending on what you read, these can vary and are often described in quite complex ways. To keep things simple here, the key components that matter most are described, hopefully, in terms the non-technorati can understand.\n\nSome form of request or requirement needs to be fulfilled, so, as with most software applications, there is a \u2018Client\u2019 \u2013 something that makes a request, usually on behalf of a human user. Today\u2019s most well-known Agentic Clients are ChatGPT for consumers and Microsoft Copilot for enterprise users. However, as you will have experienced, every CRM, communications tool, website and other piece of software out there is getting into the Agentic Client game \u2013 something that is about as welcome as Microsoft Clippy for many users.\n\nThen something needs to interpret that request (the \u2018Parser\u2019). Once the request is \u2018understood\u2019, it needs to be responded to directly or broken down into sub-tasks (by a \u2018Reasoner\u2019), before each sub-task is routed (by an \u2018Orchestrator\u2019) to one or more Agents.\n\nTechnically, these can be four separate technological components. In reality, however, the Parser, Reasoner and Orchestrator are today an integrated part of the Client \u2013 the fourth role that you were performing as the team captain at the quiz night." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "The Agentic Server", "text": "The Client-Server paradigm is the most prevalent software pattern in the industry, so Agentic AI frameworks refer to the AI Agents as Servers \u2013 as they are responding to the requests of the Clients.\n\nAs you were the Agentic Client on quiz night, Mo, Sally and Tabby were the Agentic Servers.\n\nAgentic Servers need to tell the Client what they [believe they] are capable of \u2013 described in the quiz night example as \u2018registering a skill\u2019 \u2013 whilst the Client and Server need to be able to exchange requests and responses using a \u2018communications contract\u2019.\n\nBefore LLMs introduced themselves to the Agentic AI world, communications contracts between software components were very formal and very fragmented across the industry, with every vendor creating and publishing its own \u2018API\u2019 (Application Programming Interface).\n\nStandards such as SOAP (the Simple Object Access Protocol), CORBA (the Common Object Request Broker Architecture) and OAS (the OpenAPI Specification) emerged to try to standardise, a little, how APIs operated across different software components and network architectures. But frankly, in most industries, we never really got our act together to create a single communications contract that would allow any piece of software to talk to any other.\n\nThe biggest thing that\u2019s changed with the advent of LLMs is that software can now talk to other software using English (or many other human languages) as its communications protocol.\n\nHowever, deciding what to say to each other was a bit of a free-for-all in the first year of the modern Agentic AI era. That was until Anthropic proposed and open-sourced the now widely adopted MCP (the Model Context Protocol), which provides a bit of groundwork for how to both register an agent skill and then communicate the follow-up request and response using English \u2013 essentially lending a bit of structure in the same way SOAP did for API services back in 1998.\n\nThen, whilst MCP is focused on Servers registering and communicating with Clients, it\u2019s looking quite likely that it will be supplemented by the similar-but-different A2A (Agent-to-Agent) protocol from Google, intended to semi-standardise how the various Agentic Servers can talk to other Servers.\n\nEnglish being at the core of new Client-Server-Server communications has truly opened up the opportunity for any software to talk to any other software, whether or not this Agentic system otherwise uses AI. However, it also means that rather than the dependable communications contracts we used to have in APIs, we are also inheriting the biggest problem with LLMs: their propensity to be unknowingly, but confidently, wrong.\n\nAmid the Agentic hype, the Generative AI community would also have you believe that all Server Agents should be built entirely from LLMs \u2013 especially given they need to Parse, Reason and potentially Orchestrate other Agents to provide a response. Yet again, this falsehood can increase the likelihood of them, and therefore the Agentic system as a whole, being confidently wrong." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "Being confidently wrong", "text": "By now, everyone reading this blog post will have experienced both correct and incorrect AI summaries at the top of their Google search results, leaving you, the end user, to use your own judgement as to whether to believe or ignore them.\n\nKit\u2019s previous blog articles have drilled into why LLMs are so often wrong, whilst the Hugging Face Leaderboards demonstrate there is still a long way to go before LLMs provide trustworthy answers or reasoning.\n\nThose who have heard Kit Ruparel speak on AI also know that, as important as providing a correct result is, it is even more important that an AI system provides a probability score showing how confident it believes it is in its answer\u2019s correctness \u2013 and that the lack of such a score is a fundamental weakness of Generative AI LLMs. They don\u2019t provide an answer along with a confidence score, instead providing only a sequence of statistically likely text.\n\nImagine how useful it would be if that AI answer at the top of your Google search results was accompanied by a single additional statement: \u201cThis AI generated answer is likely 94% correct.\u201d You could then decide whether that 94% result is within your acceptable risk tolerance, based on your research use case, alongside your historic knowledge of how reliable Google has been at formulating that percentage probability of correctness.\n\nToday, only Predictive AI (or \u2018traditional\u2019 machine learning, if you prefer) provides both an answer and a probability score whose trustworthiness you can learn and bake into your application\u2019s risk tolerance threshold." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "Playground whispers", "text": "Returning to the agent quiz night example above, let\u2019s look at everywhere an LLM might have been used in today\u2019s Agentic AI world: for each of the agents to register their skills; to parse and reason over a quiz question; to decide which agent(s) to route the question to; for one or more agents to parse and reason over the question and provide an answer; and for the client to reason over the answers provided and formulate an ultimate response.\n\nThat\u2019s five different uses of LLMs, and if each use of an LLM only has a 90% chance of being accurate, then mathematically, there is a 41% chance that the final answer will be incorrect.\n\nIf a more complex agentic mesh were in play, with 10 agents involved, each with a 90% accuracy level, then, statistically, two out of three final answers will be wrong. Confidently wrong.\n\nUsing LLMs for every element of the Agentic AI ecosystem is akin to the old \u2018Whispers\u2019 game that you may have enjoyed in the playground as children \u2013 perhaps known by a less politically correct moniker at the time or, if you were in the USA, known as the \u2018Telephone Game\u2019. According to the rules of that game, each child in the chain had to pass on what they thought they heard. A more sensible outcome might have been achieved if each child had the option of saying \u201cI\u2019m 94% confident that I heard \u2018Grandma wears blue shoes\u2019\u201d, and each next child in the chain then had the option of taking this information and potentially reasoning towards an \u201cI don\u2019t know\u201d answer. But that would have been far less fun." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "Successful Agentic AI in the enterprise", "text": "Thanks to Generative LLMs, Agentic AI is coming for your business, so it is your organisation\u2019s responsibility to ensure that the implementation is both safe and makes your employees more productive.\n\nProductivity is obviously the purpose of these technologies. However, recent company surveys by respected institutions such as MIT and McKinsey demonstrate that, today, only around 10% of Generative AI projects make it out of pilot purgatory, with only 5% or so actually providing a return on investment.\n\nUsers instead find their time lost either to the \u2018AI Verification Tax\u2019 \u2013 spending more time checking and correcting those confidently wrong results than the time initially saved by having answers or content created for them \u2013 or to adding the meat to the \u2018AI Workslop\u2019, defined by Harvard as \u201cAI generated content that masquerades as good work, but lacks the substance to meaningfully advance a given task.\u201d\n\nThis will change over time as AI scientists and developers build increasingly performant tools, so early adopters really need to start setting out their stalls for safe and responsible Agentic AI.\n\nSuch a process must start with careful selection of agents and other AI components. The Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have \u2018done the right thing\u2019.\n\nWhere componentry is developed in house, try to avoid LLMs unless text generation is truly required \u2013 most especially where an organisation owns both sides of the Client-Server or Server-Server equation. If you can define the communication contract between your services, then a restrictive and purposeful API is going to guarantee reliable consistency in a way that the ambiguities of natural language never will.\n\nThen, within agentic services themselves, build or prefer to use components that minimise technologies related to Generative AI when either Predictive AI, or even more straightforward procedural coding, will suffice.\n\nThe Agentic AI ecosystem will only be as good as the sum of each of its parts, each potentially having been built by a different development team, each of whom must be trusted to have \u2018done the right thing\u2019.\n\nImportantly, ensure each component in the framework is designed to opt out \u2013 to provide that \u201cI don\u2019t know\u201d answer whenever there is uncertainty. For AI services using traditional machine learning, make sure you are in control of the confidence tolerance thresholds for the AI returning an answer, taking an action or providing the opt-out.\n\nNext, consider security, guardrails and traceability. This is where most organisations must surely turn to Microsoft, as Copilot and the Office suite will most commonly be the entry-point Client for business users, and Office documents will often be the desired output format.\n\nMore pertinently, organisations using Microsoft Azure will turn to the security of the Azure Agent ID technologies, Microsoft\u2019s Agentic monitoring and AI Content Safety guardrails, and the Purview AI data governance capabilities that Microsoft is rapidly evolving. Agentic AI components developed outside the Azure ecosystem will sensibly be turned down by most information security teams.\n\nFinally, ensure your Agentic AI system has an appropriate amount of human-in-the-loop \u2013 both for consumption, with users well trained in responsible use and best practice, and for monitoring, quality control and continuous improvement throughout the AI componentry mesh." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure technology and agents", "text": "Recordsure develops and consumes AI responsibly, with our products proven to improve productivity, yet with an appropriate amount of human-in-the-loop application to reduce rather than increase operational and conduct risk.\n\nRecordsure has used software agents (microservices) since our first product developments over a decade ago, with many of these agents providing or consuming AI capabilities \u2013 initially predictive machine learning technologies and, more recently, carefully designed Generative AI LLM usage where text actually needs to be generated.\n\nTraditional, dependable APIs are used wherever we own both halves of a communications contract between services, or where trusted suppliers are in the mix. Every AI element is designed with configurable and well-tested AI confidence thresholds, guardrails for LLM human input and responses, and monitoring and improvement methods throughout.\n\nAs our clients look to integrate our products within their own Agentic ecosystems, we are working with the various emerging Microsoft AI and other Azure services to ensure that InfoSec teams can be confident of a natural fit into the security and supervision frameworks that will increasingly become part of their daily Agentic AI operations.\n\nAll images are 100% AI generated. All words are 100% human. Most mistakes are the proof-readers\u2019." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-secrets-of-ai-agents/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Are AI agents a new technology?", "acceptedAnswer": { "@type": "Answer", "text": "No. Software agents were first conceptualised in the 1950s and became mainstream in the 80s, and AI has long been used inside them \u2013 from Microsoft\u2019s Clippy in 1996 to Amazon\u2019s Alexa Skills Kit in 2015." } }, { "@type": "Question", "name": "What are the main roles in an Agentic AI framework?", "acceptedAnswer": { "@type": "Answer", "text": "A Client makes requests on behalf of a user and today also acts as Parser, Reasoner and Orchestrator. AI Agents act as Servers, registering their skills and exchanging requests and responses through a communications contract such as MCP." } }, { "@type": "Question", "name": "Why can an agentic system built entirely from LLMs be confidently wrong?", "acceptedAnswer": { "@type": "Answer", "text": "Errors compound across each LLM step: five steps that are each 90% accurate give a 41% chance of an incorrect final answer. Generative LLMs also provide no confidence score to flag that uncertainty." } }, { "@type": "Question", "name": "How can firms build safe and productive Agentic AI?", "acceptedAnswer": { "@type": "Answer", "text": "Select components carefully, avoid LLMs unless text generation is truly needed, design every component to opt out with \u2018I don\u2019t know\u2019, apply security, guardrails and traceability, and keep an appropriate human-in-the-loop." } }, { "@type": "Question", "name": "How does Recordsure use agents and AI?", "acceptedAnswer": { "@type": "Answer", "text": "We have used software agents (microservices) since our first product developments over a decade ago. We use dependable APIs where we own both sides of a contract, build configurable confidence thresholds and guardrails into every AI element, and use Generative AI only where text actually needs to be generated." } } ] } ] } ``` ### Suitability reviews with AI: turning a compliance burden into a business asset - URL: https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/ - Published: 2025-10-06 - Modified: 2026-10-09 **Topic:** Suitability reviews Unclear suitability ratings often stem from weak rationale, fact-finding or risk assessment, and AI-supported review can turn compliance checks into learning. Better feedback can improve adviser performance, reduce rework and support customer outcomes. #### Key points - A poll found 62% saw insufficient rationale as the biggest barrier to right-first-time suitability. - 38% pointed to fact-finding and risk assessment issues. - Tick-box reviews can create unclear ratings and combative adviser relationships. - AI-driven insight with expert oversight can turn reviews into learning and improvement. [Related video](https://vimeo.com/1124855352) TCC and Recordsure opened their AI for compliance webinar series with a focus on suitability reviews, an area where many wealth managers struggle to get files right first time. Garry Evans hosted the session with David Boyhan, TCC’s Technical Director, and Neil Dethick, TCC’s Operations Director. The discussion explored how firms can move away from tick-box checking and towards reviews that improve adviser performance and customer outcomes. #### Poll findings on unclear suitability A live poll asked attendees to identify the biggest barrier to ensuring suitability is right first time. Adviser attention to detail received 0%. Insufficient or contradictory fact-finding or attitude-to-risk determination received 38%. Insufficient rationale for the recommendation received 62%. Something else received 0%. Neil Dethick said the result matched his team’s day-to-day experience. He said insufficient rationale is the most common reason for a file to be rated unclear. Issues include alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered and inconsistencies between fact-finding and suitability reports. The poll question asked: “What’s the biggest barrier in ensuring suitability is right first time?” Neil Dethick said the result aligned with his experience across tens of thousands of suitability reviews. The poll options also included adviser attention to detail and something else, both of which received 0%. The session used the result to start a wider discussion about factfinding, attitude to risk determination and recommendation reasoning. #### Why suitability reviews miss the mark Suitability checks are often treated as an administrative exercise. Advisers may receive unclear ratings without detailed feedback, creating frustration and combative relationships with compliance colleagues. Reviews can also be too narrow, focusing on individual cases or products and missing wider themes. That prevents firms from spotting recurring weaknesses. Efforts to reduce costs and accelerate reviews can backfire if they deliver quick results without meaningful developmental insight. Neil Dethick described tick-box checks as giving an instant sugar rush in speed and handling time, but limited risk mitigation or development potential if the results are taken at face value. Neil Dethick said that, in his experience, suitability checks often provide very little meaningful feedback or insight on top of the file rating. That lack of clarity can make it harder for advisers to understand why an unclear or unsuitable rating was applied. He also said the bigger picture can be lost where firms focus on individual cases and narrow-scope themed reviews. That can lead to failure to identify key themes and trends. #### The hidden costs One hidden cost is adviser rework. When files are returned as unclear without constructive guidance, advisers spend unprofitable time remediating cases instead of serving clients. Detailed feedback signposting where issues sit can prevent the same issue recurring in future cases. The opportunity is to turn reviews into learning rather than friction. AI-driven insights, combined with expert oversight, can provide clear feedback that helps advisers understand what went wrong and why. Thematic analysis can also reveal systemic issues in fact-finding, risk assessment or adviser training, allowing firms to address root causes. Risk-based sampling can create further issues. Where sampling is poorly implemented, sample sizes can be too small or the scope too narrow. The resulting evidence may be stilted, ineffective or inconclusive, limiting root-cause analysis. Those hidden costs grow when suitability reviews repeatedly send cases back without enough guidance. That can reduce adviser capacity for client work and make it harder to achieve lasting improvement. #### A better way forward Suitability reviews that encourage a right-first-time mindset become more than a compliance necessity. Review outcomes can improve customer outcomes, reduce cost and reframe compliance as an enabler of business growth. Neil Dethick reinforced this point: reviews with little meaningful feedback can leave advisers unclear on why an unclear or unsuitable rating was applied, creating resistance to developmental change. He also warned that risk-based sampling can be poorly implemented where sample sizes are too small or scope is too narrow, leaving little evidence for root-cause analysis. Recordsure uses AI technology with TCC’s regulatory expertise to help firms move beyond tick-box compliance and support better outcomes for advisers and clients. The full first section of the webinar is available [online](https://vimeo.com/1124855352). Neil Dethick linked unclear ratings to alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered, and inconsistencies between fact-finding and suitability reports. Clearer feedback and thematic analysis can address these problems. The session spotlight was therefore on shifting suitability review activity from an administrative source of friction into a value-adding process that strengthens outcomes for advisers and clients alike. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Suitability reviews with AI: turning a compliance burden into a business asset", "item": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/", "name": "Suitability reviews with AI: turning a compliance burden into a business asset", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-06T14:44:33+01:00", "dateModified": "2025-10-06T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-06" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Suitability reviews with AI: turning a compliance burden into a business asset", "datePublished": "2025-10-06T14:44:33+01:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c4496e5b514c4d0ebe3d29a600e7b48c/thumbnail-1024-5423c60441d9bc6ccd95016fdece39baafc8faf79a9470fcaa836dfc82b1af61.jpg", "description": "Suitability reviews can move beyond tick-box checking when AI-supported insight is combined with expert oversight and clear adviser feedback.", "inLanguage": "en-GB", "articleBody": "Unclear suitability ratings often stem from weak rationale, fact-finding or risk assessment, and AI-supported review can turn compliance checks into learning. Better feedback can improve adviser performance, reduce rework and support customer outcomes.\n\nTCC and Recordsure opened their AI for compliance webinar series with a focus on suitability reviews, an area where many wealth managers struggle to get files right first time.\n\nGarry Evans hosted the session with David Boyhan, TCC\u2019s Technical Director, and Neil Dethick, TCC\u2019s Operations Director. The discussion explored how firms can move away from tick-box checking and towards reviews that improve adviser performance and customer outcomes.\n\nPoll findings on unclear suitability\n\nA live poll asked attendees to identify the biggest barrier to ensuring suitability is right first time. Adviser attention to detail received 0%. Insufficient or contradictory fact-finding or attitude-to-risk determination received 38%. Insufficient rationale for the recommendation received 62%. Something else received 0%.\n\nNeil Dethick said the result matched his team\u2019s day-to-day experience. He said insufficient rationale is the most common reason for a file to be rated unclear. Issues include alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered and inconsistencies between fact-finding and suitability reports.\n\nThe poll question asked: \u201cWhat\u2019s the biggest barrier in ensuring suitability is right first time?\u201d Neil Dethick said the result aligned with his experience across tens of thousands of suitability reviews.\n\nThe poll options also included adviser attention to detail and something else, both of which received 0%. The session used the result to start a wider discussion about factfinding, attitude to risk determination and recommendation reasoning.\n\nWhy suitability reviews miss the mark\n\nSuitability checks are often treated as an administrative exercise. Advisers may receive unclear ratings without detailed feedback, creating frustration and combative relationships with compliance colleagues.\n\nReviews can also be too narrow, focusing on individual cases or products and missing wider themes. That prevents firms from spotting recurring weaknesses. Efforts to reduce costs and accelerate reviews can backfire if they deliver quick results without meaningful developmental insight.\n\nNeil Dethick described tick-box checks as giving an instant sugar rush in speed and handling time, but limited risk mitigation or development potential if the results are taken at face value.\n\nNeil Dethick said that, in his experience, suitability checks often provide very little meaningful feedback or insight on top of the file rating. That lack of clarity can make it harder for advisers to understand why an unclear or unsuitable rating was applied.\n\nHe also said the bigger picture can be lost where firms focus on individual cases and narrow-scope themed reviews. That can lead to failure to identify key themes and trends.\n\nThe hidden costs\n\nOne hidden cost is adviser rework. When files are returned as unclear without constructive guidance, advisers spend unprofitable time remediating cases instead of serving clients.\n\nDetailed feedback signposting where issues sit can prevent the same issue recurring in future cases. The opportunity is to turn reviews into learning rather than friction.\n\nAI-driven insights, combined with expert oversight, can provide clear feedback that helps advisers understand what went wrong and why. Thematic analysis can also reveal systemic issues in fact-finding, risk assessment or adviser training, allowing firms to address root causes.\n\nRisk-based sampling can create further issues. Where sampling is poorly implemented, sample sizes can be too small or the scope too narrow. The resulting evidence may be stilted, ineffective or inconclusive, limiting root-cause analysis.\n\nThose hidden costs grow when suitability reviews repeatedly send cases back without enough guidance. That can reduce adviser capacity for client work and make it harder to achieve lasting improvement.\n\nA better way forward\n\nSuitability reviews that encourage a right-first-time mindset become more than a compliance necessity. Review outcomes can improve customer outcomes, reduce cost and reframe compliance as an enabler of business growth.\n\nNeil Dethick reinforced this point: reviews with little meaningful feedback can leave advisers unclear on why an unclear or unsuitable rating was applied, creating resistance to developmental change. He also warned that risk-based sampling can be poorly implemented where sample sizes are too small or scope is too narrow, leaving little evidence for root-cause analysis.\n\nRecordsure uses AI technology with TCC\u2019s regulatory expertise to help firms move beyond tick-box compliance and support better outcomes for advisers and clients.\n\nThe full first section of the webinar is available online.\n\nNeil Dethick linked unclear ratings to alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered, and inconsistencies between fact-finding and suitability reports. Clearer feedback and thematic analysis can address these problems.\n\nThe session spotlight was therefore on shifting suitability review activity from an administrative source of friction into a value-adding process that strengthens outcomes for advisers and clients alike.", "wordCount": 785, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Suitability reviews" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "text": "TCC and Recordsure opened their AI for compliance webinar series with a focus on suitability reviews, an area where many wealth managers struggle to get files right first time.\n\nGarry Evans hosted the session with David Boyhan, TCC\u2019s Technical Director, and Neil Dethick, TCC\u2019s Operations Director. The discussion explored how firms can move away from tick-box checking and towards reviews that improve adviser performance and customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "headline": "Poll findings on unclear suitability", "text": "A live poll asked attendees to identify the biggest barrier to ensuring suitability is right first time. Adviser attention to detail received 0%. Insufficient or contradictory fact-finding or attitude-to-risk determination received 38%. Insufficient rationale for the recommendation received 62%. Something else received 0%.\n\nNeil Dethick said the result matched his team\u2019s day-to-day experience. He said insufficient rationale is the most common reason for a file to be rated unclear. Issues include alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered and inconsistencies between fact-finding and suitability reports.\n\nThe poll question asked: \u201cWhat\u2019s the biggest barrier in ensuring suitability is right first time?\u201d Neil Dethick said the result aligned with his experience across tens of thousands of suitability reviews.\n\nThe poll options also included adviser attention to detail and something else, both of which received 0%. The session used the result to start a wider discussion about factfinding, attitude to risk determination and recommendation reasoning." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "headline": "Why suitability reviews miss the mark", "text": "Suitability checks are often treated as an administrative exercise. Advisers may receive unclear ratings without detailed feedback, creating frustration and combative relationships with compliance colleagues.\n\nReviews can also be too narrow, focusing on individual cases or products and missing wider themes. That prevents firms from spotting recurring weaknesses. Efforts to reduce costs and accelerate reviews can backfire if they deliver quick results without meaningful developmental insight.\n\nNeil Dethick described tick-box checks as giving an instant sugar rush in speed and handling time, but limited risk mitigation or development potential if the results are taken at face value.\n\nNeil Dethick said that, in his experience, suitability checks often provide very little meaningful feedback or insight on top of the file rating. That lack of clarity can make it harder for advisers to understand why an unclear or unsuitable rating was applied.\n\nHe also said the bigger picture can be lost where firms focus on individual cases and narrow-scope themed reviews. That can lead to failure to identify key themes and trends." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "headline": "The hidden costs", "text": "One hidden cost is adviser rework. When files are returned as unclear without constructive guidance, advisers spend unprofitable time remediating cases instead of serving clients.\n\nDetailed feedback signposting where issues sit can prevent the same issue recurring in future cases. The opportunity is to turn reviews into learning rather than friction.\n\nAI-driven insights, combined with expert oversight, can provide clear feedback that helps advisers understand what went wrong and why. Thematic analysis can also reveal systemic issues in fact-finding, risk assessment or adviser training, allowing firms to address root causes.\n\nRisk-based sampling can create further issues. Where sampling is poorly implemented, sample sizes can be too small or the scope too narrow. The resulting evidence may be stilted, ineffective or inconclusive, limiting root-cause analysis.\n\nThose hidden costs grow when suitability reviews repeatedly send cases back without enough guidance. That can reduce adviser capacity for client work and make it harder to achieve lasting improvement." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "headline": "A better way forward", "text": "Suitability reviews that encourage a right-first-time mindset become more than a compliance necessity. Review outcomes can improve customer outcomes, reduce cost and reframe compliance as an enabler of business growth.\n\nNeil Dethick reinforced this point: reviews with little meaningful feedback can leave advisers unclear on why an unclear or unsuitable rating was applied, creating resistance to developmental change. He also warned that risk-based sampling can be poorly implemented where sample sizes are too small or scope is too narrow, leaving little evidence for root-cause analysis.\n\nRecordsure uses AI technology with TCC\u2019s regulatory expertise to help firms move beyond tick-box compliance and support better outcomes for advisers and clients.\n\nThe full first section of the webinar is available online.\n\nNeil Dethick linked unclear ratings to alternative options not being fully discounted, discussed or evidenced, taxation issues not being fully covered, and inconsistencies between fact-finding and suitability reports. Clearer feedback and thematic analysis can address these problems.\n\nThe session spotlight was therefore on shifting suitability review activity from an administrative source of friction into a value-adding process that strengthens outcomes for advisers and clients alike." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/turning-suitability-reviews-from-a-compliance-burden-into-a-business-asset/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the webinar poll identify as the biggest barrier?", "acceptedAnswer": { "@type": "Answer", "text": "The poll found 62% selected insufficient rationale for the recommendation, while 38% selected fact-finding or attitude-to-risk issues." } }, { "@type": "Question", "name": "Why can tick-box suitability reviews cause problems?", "acceptedAnswer": { "@type": "Answer", "text": "They may provide speed but little meaningful feedback, leaving advisers unclear on ratings and limiting development." } }, { "@type": "Question", "name": "What hidden cost do unclear reviews create?", "acceptedAnswer": { "@type": "Answer", "text": "Unclear files can create unprofitable adviser time spent on rework or remediation when cases are returned without constructive guidance." } }, { "@type": "Question", "name": "How can AI support suitability reviews?", "acceptedAnswer": { "@type": "Answer", "text": "AI-driven insights can help identify themes and support clearer feedback, while expert oversight explains what went wrong and why." } } ] } ] } ``` ### AI in Compliance event for wealth managers: Five takeaways - URL: https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/ - Published: 2025-10-02 - Modified: 2026-10-09 **Topic:** Ongoing advice Ongoing advice compliance depends on clear evidence of reasonable steps, fair value, responsible AI use, transparent communications and practical adoption planning. #### Key points - The event covered ongoing advice, compliance and AI in wealth management. - The Q&A follow-up captures over 30 issues raised by attendees. - Themes include reasonable steps, free advice, AI use, transparency and adoption. - The Q&A provides practical prompts for compliance discussions. That’s why we’ve created a comprehensive Q&A follow-up document, capturing over 30 of the most pressing issues raised, which are a must-read for wealth management professionals and advisers. #### Understanding ‘reasonable steps’ in ongoing advice One of the event’s biggest themes revolved around delivering ongoing advice while staying compliant. It’s not just about contacting clients – it’s about documenting every step to show that effort, process and regulatory oversight are in place. The Q&A follow-up dives into practical examples and strategies that firms are using to ensure they meet obligations without unnecessary risk. #### Managing ‘free’ advice scenarios Attendees were curious about how to handle situations where clients receive ongoing advice without paying fees. The discussion highlighted the importance of demonstrating fair value and meeting Consumer Duty expectations. The Q&A document explores this in depth, offering guidance on how firms can stay compliant while continuing to support clients effectively. #### Making AI work for your advice process The difference between generative and predictive AI was a key topic of discussion. While generative AI can assist with drafting, predictive AI helps identify gaps, flag risks and strengthen quality assurance. The Q&A follow-up provides real examples of how firms are integrating AI while maintaining human oversight and regulatory compliance. #### Transparency and ethics in client communications Questions around transparency, client terms and ethical AI use were central to the conversation. Firms need to clearly communicate how AI is used, its limitations and explain how client data is handled. #### Overcoming change and adoption challenges Finally, the event highlighted the human side of change. Resistance to new processes, technology or monitoring is natural, but practical strategies – including training, pilot programmes and demonstrating early wins make adoption smoother. The Q&A follow-up captures real-world approaches firms are using to implement change effectively. The Q&A isn’t just a recap. It’s a practical guide, built from the real challenges faced by advisers, compliance teams and business leaders. Whether your focus is improving ongoing advice service, adopting AI responsibly or ensuring regulatory compliance, it’s an invaluable reference. Download the Q&A follow-up now and use it to guide your next team discussion or compliance review. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI in Compliance event for wealth managers: Five takeaways", "item": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/", "name": "AI in Compliance event for wealth managers: Five takeaways", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-10-02T15:50:38+01:00", "dateModified": "2025-10-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-10-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI in Compliance event for wealth managers: Five takeaways", "datePublished": "2025-10-02T15:50:38+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/five-takeaways-from-our-ongoing-advice-event-plus-an-exclusive-qa-download/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a5ca6e181b4d4b2db8daea1a374c0d3d/thumbnail-1024-2b5749fc395bb2b3c3933ce44dc87649110174ef62769c2e71a719e53086870f.png", "description": "Five themes from an AI in Compliance event for wealth managers, including reasonable steps, fair value, AI oversight, transparency and adoption.", "inLanguage": "en-GB", "articleBody": "Ongoing advice compliance depends on clear evidence of reasonable steps, fair value, responsible AI use, transparent communications and practical adoption planning.\n\nThat\u2019s why we\u2019ve created a comprehensive Q&A follow-up document, capturing over 30 of the most pressing issues raised, which are a must-read for wealth management professionals and advisers.\n\nUnderstanding \u2018reasonable steps\u2019 in ongoing advice\n\nOne of the event\u2019s biggest themes revolved around delivering ongoing advice while staying compliant. 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The right approach to harnessing AI helps firms meet regulatory expectations and transform compliance into a driver of quality, consistency and trust. With the FCA sharpening its focus on delivering and recording good customer outcomes, advice firms need to meet stringent standards for suitability and advice quality, and demonstrate clear, auditable evidence to the regulator. At the same time, artificial intelligence is reshaping how compliance is managed. The right AI solution can deliver smarter, faster and more reliable compliance outcomes while reducing manual workloads. But navigating the landscape is not simple. [TCC](https://tcc.group) and Recordsure hosted a two-part webinar series in October. The sessions explored how AI could help compliance teams raise standards, build evidence frameworks and prepare for regulatory challenges ahead. #### AI in Compliance: Right-first-time suitability The first webinar explained how to combine AI and practitioner expertise to boost performance and eliminate costly rework. It took place on 2nd October and was designed to show how firms can improve suitability assessment quality and consistency. #### AI in Compliance: Building on solid foundations The second webinar explained why wealth managers cannot rely on GenAI alone and how to create regulator-ready evidence that lasts. It took place on 14th October and focused on building compliance foundations that can stand up to scrutiny. #### Webinar 1: AI in Compliance: Right-first-time suitability Webinar 1 took place on 2nd October 2025 at 12:30pm. Getting suitability assessments right-first-time is essential for compliance and customer trust, but as case volumes grow, compliance teams are stretched thin. The webinar sets out how a unique approach to AI can: - Improve the quality and consistency of suitability checks. - Reduce compliance workloads by automating routine assessments. - Free up compliance professionals to focus on complex cases. - Ensure evidence stands up to regulatory scrutiny. David Boyhan, Technical Compliance Expert at TCC, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, led the session. The session was designed to equip attendees with practical insight into raising suitability standards while minimising operational strain. #### Webinar 2: AI in Compliance: Building on solid foundations Webinar 2 took place on 14th October 2025 at 12:30pm. Generative AI has become a major topic in financial services, but relying solely on GenAI is not enough for compliance. Predictive AI plays a critical role in technology-led solutions for financial services firms. This webinar offered guidance on ensuring an AI solution can be trusted, provides necessary evidence and supports firms in meeting regulatory requirements. It covered: - Why GenAI alone cannot deliver regulator-ready compliance. - How to create auditable, lasting evidence using Predictive AI. - Practical strategies for building compliance frameworks that scale and endure. - How to ensure compliance with AI is both effective and trustworthy. Kit Ruparel, Chief Technology Officer at Recordsure, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, brought decades of experience and hands-on expertise in applying AI to financial services compliance. #### Who should attend? The webinars were designed for professionals across financial services, including wealth management practitioners, compliance officers and managers, risk and governance leaders, financial advisers and supervisors, and technology and operations leaders. The sessions were for people who wanted to understand how AI could strengthen compliance, enhance customer outcomes and deliver regulator-ready evidence. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI in Compliance: Regulatory success for financial services", "item": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/", "name": "AI in Compliance: Regulatory success for financial services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-09-12T11:00:46+01:00", "dateModified": "2025-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-29" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI in Compliance: Regulatory success for financial services", "datePublished": "2025-09-12T11:00:46+01:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/69e3a75bce0f4d74875a37d6b9123404/thumbnail-1024-678ab931f151f5f9b4776991cde3f742cde7741c2338fe9fffac655169b8cfd7.png", "description": "A two-part TCC and Recordsure webinar series explained how advice firms could use AI to improve suitability checks, evidence quality and regulator-ready compliance foundations.", "inLanguage": "en-GB", "articleBody": "Two AI in Compliance webinars covered right-first-time suitability, predictive AI, evidence, speakers and the practical foundations financial services firms need.\n\nThe right approach to harnessing AI helps firms meet regulatory expectations and transform compliance into a driver of quality, consistency and trust. With the FCA sharpening its focus on delivering and recording good customer outcomes, advice firms need to meet stringent standards for suitability and advice quality, and demonstrate clear, auditable evidence to the regulator.\n\nAt the same time, artificial intelligence is reshaping how compliance is managed. The right AI solution can deliver smarter, faster and more reliable compliance outcomes while reducing manual workloads. But navigating the landscape is not simple.\n\nTCC and Recordsure hosted a two-part webinar series in October. The sessions explored how AI could help compliance teams raise standards, build evidence frameworks and prepare for regulatory challenges ahead.\n\nAI in Compliance: Right-first-time suitability\n\nThe first webinar explained how to combine AI and practitioner expertise to boost performance and eliminate costly rework. It took place on 2nd October and was designed to show how firms can improve suitability assessment quality and consistency.\n\nAI in Compliance: Building on solid foundations\n\nThe second webinar explained why wealth managers cannot rely on GenAI alone and how to create regulator-ready evidence that lasts. It took place on 14th October and focused on building compliance foundations that can stand up to scrutiny.\n\nWebinar 1: AI in Compliance: Right-first-time suitability\n\nWebinar 1 took place on 2nd October 2025 at 12:30pm. Getting suitability assessments right-first-time is essential for compliance and customer trust, but as case volumes grow, compliance teams are stretched thin.\n\nThe webinar sets out how a unique approach to AI can:\n\n\u2022 Improve the quality and consistency of suitability checks.\n\u2022 Reduce compliance workloads by automating routine assessments.\n\u2022 Free up compliance professionals to focus on complex cases.\n\u2022 Ensure evidence stands up to regulatory scrutiny.\n\nDavid Boyhan, Technical Compliance Expert at TCC, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, led the session. The session was designed to equip attendees with practical insight into raising suitability standards while minimising operational strain.\n\nWebinar 2: AI in Compliance: Building on solid foundations\n\nWebinar 2 took place on 14th October 2025 at 12:30pm. Generative AI has become a major topic in financial services, but relying solely on GenAI is not enough for compliance. Predictive AI plays a critical role in technology-led solutions for financial services firms.\n\nThis webinar offered guidance on ensuring an AI solution can be trusted, provides necessary evidence and supports firms in meeting regulatory requirements. It covered:\n\n\u2022 Why GenAI alone cannot deliver regulator-ready compliance.\n\u2022 How to create auditable, lasting evidence using Predictive AI.\n\u2022 Practical strategies for building compliance frameworks that scale and endure.\n\u2022 How to ensure compliance with AI is both effective and trustworthy.\n\nKit Ruparel, Chief Technology Officer at Recordsure, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, brought decades of experience and hands-on expertise in applying AI to financial services compliance.\n\nWho should attend?\n\nThe webinars were designed for professionals across financial services, including wealth management practitioners, compliance officers and managers, risk and governance leaders, financial advisers and supervisors, and technology and operations leaders.\n\nThe sessions were for people who wanted to understand how AI could strengthen compliance, enhance customer outcomes and deliver regulator-ready evidence.", "wordCount": 555, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI compliance webinars" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-6" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "The right approach to harnessing AI helps firms meet regulatory expectations and transform compliance into a driver of quality, consistency and trust. With the FCA sharpening its focus on delivering and recording good customer outcomes, advice firms need to meet stringent standards for suitability and advice quality, and demonstrate clear, auditable evidence to the regulator.\n\nAt the same time, artificial intelligence is reshaping how compliance is managed. The right AI solution can deliver smarter, faster and more reliable compliance outcomes while reducing manual workloads. But navigating the landscape is not simple.\n\nTCC and Recordsure hosted a two-part webinar series in October. The sessions explored how AI could help compliance teams raise standards, build evidence frameworks and prepare for regulatory challenges ahead." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "AI in Compliance: Right-first-time suitability", "text": "The first webinar explained how to combine AI and practitioner expertise to boost performance and eliminate costly rework. It took place on 2nd October and was designed to show how firms can improve suitability assessment quality and consistency." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "AI in Compliance: Building on solid foundations", "text": "The second webinar explained why wealth managers cannot rely on GenAI alone and how to create regulator-ready evidence that lasts. It took place on 14th October and focused on building compliance foundations that can stand up to scrutiny." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Webinar 1: AI in Compliance: Right-first-time suitability", "text": "Webinar 1 took place on 2nd October 2025 at 12:30pm. Getting suitability assessments right-first-time is essential for compliance and customer trust, but as case volumes grow, compliance teams are stretched thin.\n\nThe webinar sets out how a unique approach to AI can:\n\n\u2022 Improve the quality and consistency of suitability checks.\n\u2022 Reduce compliance workloads by automating routine assessments.\n\u2022 Free up compliance professionals to focus on complex cases.\n\u2022 Ensure evidence stands up to regulatory scrutiny.\n\nDavid Boyhan, Technical Compliance Expert at TCC, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, led the session. The session was designed to equip attendees with practical insight into raising suitability standards while minimising operational strain." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Webinar 2: AI in Compliance: Building on solid foundations", "text": "Webinar 2 took place on 14th October 2025 at 12:30pm. Generative AI has become a major topic in financial services, but relying solely on GenAI is not enough for compliance. Predictive AI plays a critical role in technology-led solutions for financial services firms.\n\nThis webinar offered guidance on ensuring an AI solution can be trusted, provides necessary evidence and supports firms in meeting regulatory requirements. It covered:\n\n\u2022 Why GenAI alone cannot deliver regulator-ready compliance.\n\u2022 How to create auditable, lasting evidence using Predictive AI.\n\u2022 Practical strategies for building compliance frameworks that scale and endure.\n\u2022 How to ensure compliance with AI is both effective and trustworthy.\n\nKit Ruparel, Chief Technology Officer at Recordsure, and Garry Evans, CPO and CCO at Recordsure, TCC and Momenta, brought decades of experience and hands-on expertise in applying AI to financial services compliance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Who should attend?", "text": "The webinars were designed for professionals across financial services, including wealth management practitioners, compliance officers and managers, risk and governance leaders, financial advisers and supervisors, and technology and operations leaders.\n\nThe sessions were for people who wanted to understand how AI could strengthen compliance, enhance customer outcomes and deliver regulator-ready evidence." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-in-compliance-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What was the purpose of the webinar series?", "acceptedAnswer": { "@type": "Answer", "text": "It aimed to show how AI could help compliance teams raise standards, build evidence frameworks and prepare for regulatory challenges." } }, { "@type": "Question", "name": "What did the first webinar cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covered right-first-time suitability, including how AI and practitioner expertise could improve checks, reduce rework and support regulatory scrutiny." } }, { "@type": "Question", "name": "What did the second webinar cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covered why GenAI alone is not enough and how Predictive AI can support auditable, lasting evidence for compliance." } } ] } ] } ``` ### Plan for the worst, act early: winning the remediation race - URL: https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/ - Published: 2025-08-26 - Modified: 2026-10-09 **Topic:** Remediation preparation Uncertainty is not a reason for inaction. Motor finance firms can prepare by testing data integrity, segmenting cases, reviewing dealer arrangements, triaging complaints and securing resources early. #### Key points - Firms should hope for the best but plan for the worst while verifying data integrity. - Data work should identify discretionary commission cases, high commission levels and disclosure practices. - Preparation should account for 2007 lookback challenges, dealer arrangements and vulnerable customer considerations. - Claims management companies may pivot affordability and responsible lending complaints into DCA complaints. - Early procurement and resource planning may determine which firms can execute remediation quickly. [Related video](https://vimeo.com/1111014555) As the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can’t afford to sit still. Recommended next steps include data mining, disclosure reviews and early procurement moves. Potential ripple effects across the wider consumer credit market remain in scope, including whether claims management companies (CMCs) could push the FCA’s hand to expand the scheme. #### Recommended preparation and scope discussion In, on the back of that then, if I can, I hand back to Gary. In terms of what motor finance creditors need to do now, what is the kind of TCC recommended approach and timings from here? **Gary Maude- Director of Advisory Services for TCC Group** So just before I get on to that. Overriding factor, I would give people, especially those on the call who I think were involved in big past business reviews in the past is to really challenge where you’re starting from, hope for the best, plan for the worst. Verify the integrity of your data. And, if the FCA goes back to 2007, I think many of us will start to question the integrity or even existence of information going back that far. I was going to go on and just talk about what you’re looking for, which is, cases which involve discretionary commission, cases with high commission levels, determining disclosure practices of firm’s distribution, how the disclosure was commissioned, e.g. did they simply disclose it existed versus what might be received? We don’t know what the relevance of that is going to be going forward. Whether they need to disclose quantum to get past that particular hurdle. I would be looking to data mine as far back as you can, get some general sense of comfort and then start getting into tranches or buckets, as we say in Yorkshire, of how comfortable you are with your data, taking into account any distribution arrangements with motor dealers, whether they were consistent with the scope of service they set out to the consumer and indeed to you. I think someone just raised the question about vulnerability. Will CMCs start manipulating, the customers to make them sound like they are vulnerable? Well, they may do, but to go back to where we started from earlier, the FCA, consultation should hopefully take into account considerations of vulnerability. Whether or not some of those claims were vexatious versus sophisticated all the bits in between. So they’re possibly no doubt they will try if they are allowed to even get involved. There are a number of things you should be getting on with now. But, overall data mine as much as you possibly can. And just see what you think you’re starting with and go from there. **Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group** I guess if I look to summarise kind of where we got to, I think the remediation and redress environment is muddier and more complicated than we thought it was going to be. And I think as a result of that, there’s an awful lot of information that’s up in the air and clarity is not going to be known for a while yet. However, that isn’t a reason not to do anything. As has been called out, there is going to be a resource challenge, for these projects. And if there’s a real resource challenge, then the people who get out there first with an RFP, say, with the ones who get those resources. Getting yourself prepared is going to be really key, in order to be, kind of finishing this process quickly and effectively. And data is going to be a core part of that, understanding your populations, getting the data for everything from your relationships with your, kind of dealers and, and dealerships and brokers and right away through to what information do you hold on customers going back all the way to 2007, which is going to be a challenge. If you can get that and your policies and your processes set up effectively, you’re going to be in the best possible place in order to take this forward. That’s about all we wanted to cover here today. We have got a couple of questions, that I think we can go to now. Gary talked a bit about the vulnerable customers piece. Mike, have you anything to add on the vulnerable customers piece with the CMC’s? **Mike Morris- Head Of Operations at Momenta** I suppose just to add to what Gary has said in terms of whether they would pivot, we are already seeing it in terms of some of our existing clients where, complaints around affordability and responsible lending are being, sort of buried within the DCA complaint. And that is outside of the pause, so that is an activity, again, if firms have got complaints sitting waiting, it’d be a good exercise to start triaging those and looking at those. So the CMC’s have already pivoted. And we’re seeing it with some of our clients. **Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group** We have another question, and it might be a little bit harsh to throw this out at you guys. It’s quite a difficult one. But, a question on the wider implications in relation to payment of commissions. Do we have a view on how far reaching this could be, to whom and to the impact? And I suppose for me this is more about, you know, originally when we were going through the Supreme Court ruling, there was talk about, this isn’t limited to motor finance if it’s none DCA, but actually the kind of the whole consumer credit space is, is up for grabs. Given what they’ve stated, what do you think the potential implications are for kind of broadening this out to other parts of financial services and how incentivised and motivated do you think the FCA are of actually doing that? **Gary Maude- Director of Advisory Services for TCC Group** From memory I have, intentional avoiding of that question, because it could come up in the jury of courts. **Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group** I tell you what we’ll do. We will collate Gary’s answer and we will put that back in an email afterwards. Mike, did you have a view on any of that? **Mike Morris- Head Of Operations at Momenta** To default to, to Gary’s opinion in terms of the wider range of impacts of that. So I think it’s best if, if Gary collates his response, that’d be great. **Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group** I mean my I’m and whilst it’s not a desperately educated one, my personal opinion is that the FCA aren’t, particularly motivated to do this at the moment. The government put quite a lot of pressure on the FCA to, to limit things down. And so there’s no they’re not looking for opportunities to take this further. I think what would be interesting is whether the CMCs find that angle. And if the CMCs find an angle to go after, but I think that would kind of push the, the FCA one way or the other. I think that draws us to a close today. Between us, TCC, Momenta and Recordsure have the capability to help with any of your needs regarding this coming remediation program from advice through to technology and the specialist resource and outsourced managed services. If you do wish to continue this conversation, or if you’d like a free consultation hour to test your thinking and plans, please do reach out to me. And if not, then I wish you a very nice afternoon. Thank you very much. The message is clear: uncertainty is no reason for inaction. Firms can start preparing now by verifying data integrity, segmenting historical cases, reviewing dealer arrangements and addressing vulnerable customer risks. This puts organisations in a better position to secure scarce resources and execute remediation quickly. [TCC,](https://tcc.group/advisory-services/motor-finance-compliance/) [Recordsure](/sectors/) and [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/) bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Plan for the worst, act early: winning the remediation race", "item": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/", "name": "Plan for the worst, act early: winning the remediation race", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-26T09:10:13+01:00", "dateModified": "2025-09-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Plan for the worst, act early: winning the remediation race", "datePublished": "2025-08-26T09:10:13+01:00", "dateModified": "2026-10-09T04:50:18+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/665504ec37f7480393b341c485c2958a/thumbnail-1024-c6b10e2097e6da69efade8109b6a75ab5bf2b6f0c269d8d1a771562d7d6df815.jpg", "description": "Part five of the motor finance webinar urges firms to prepare early by data mining, reviewing disclosures and testing resource plans.", "inLanguage": "en-GB", "articleBody": "Uncertainty is not a reason for inaction. Motor finance firms can prepare by testing data integrity, segmenting cases, reviewing dealer arrangements, triaging complaints and securing resources early.\n\nAs the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can\u2019t afford to sit still. Recommended next steps include data mining, disclosure reviews and early procurement moves.\n\nPotential ripple effects across the wider consumer credit market remain in scope, including whether claims management companies (CMCs) could push the FCA\u2019s hand to expand the scheme.\n\nRecommended preparation and scope discussion\n\nIn, on the back of that then, if I can, I hand back to Gary. In terms of what motor finance creditors need to do now, what is the kind of TCC recommended approach and timings from here?\n\nGary Maude- Director of Advisory Services for TCC Group\n\nSo just before I get on to that. Overriding factor, I would give people, especially those on the call who I think were involved in big past business reviews in the past is to really challenge where you\u2019re starting from, hope for the best, plan for the worst. Verify the integrity of your data. And, if the FCA goes back to 2007, I think many of us will start to question the integrity or even existence of information going back that far.\n\nI was going to go on and just talk about what you\u2019re looking for, which is, cases which involve discretionary commission, cases with high commission levels, determining disclosure practices of firm\u2019s distribution, how the disclosure was commissioned, e.g. did they simply disclose it existed versus what might be received? We don\u2019t know what the relevance of that is going to be going forward. Whether they need to disclose quantum to get past that particular hurdle.\n\nI would be looking to data mine as far back as you can, get some general sense of comfort and then start getting into tranches or buckets, as we say in Yorkshire, of how comfortable you are with your data, taking into account any distribution arrangements with motor dealers, whether they were consistent with the scope of service they set out to the consumer and indeed to you.\n\nI think someone just raised the question about vulnerability. Will CMCs start manipulating, the customers to make them sound like they are vulnerable? Well, they may do, but to go back to where we started from earlier, the FCA, consultation should hopefully take into account considerations of vulnerability. Whether or not some of those claims were vexatious versus sophisticated all the bits in between. So they\u2019re possibly no doubt they will try if they are allowed to even get involved.\n\nThere are a number of things you should be getting on with now. But, overall data mine as much as you possibly can. And just see what you think you\u2019re starting with and go from there.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI guess if I look to summarise kind of where we got to, I think the remediation and redress environment is muddier and more complicated than we thought it was going to be. And I think as a result of that, there\u2019s an awful lot of information that\u2019s up in the air and clarity is not going to be known for a while yet. However, that isn\u2019t a reason not to do anything. As has been called out, there is going to be a resource challenge, for these projects. And if there\u2019s a real resource challenge, then the people who get out there first with an RFP, say, with the ones who get those resources.\n\nGetting yourself prepared is going to be really key, in order to be, kind of finishing this process quickly and effectively. And data is going to be a core part of that, understanding your populations, getting the data for everything from your relationships with your, kind of dealers and, and dealerships and brokers and right away through to what information do you hold on customers going back all the way to 2007, which is going to be a challenge.\n\nIf you can get that and your policies and your processes set up effectively, you\u2019re going to be in the best possible place in order to take this forward. That\u2019s about all we wanted to cover here today. We have got a couple of questions, that I think we can go to now. Gary talked a bit about the vulnerable customers piece. Mike, have you anything to add on the vulnerable customers piece with the CMC\u2019s?\n\nMike Morris- Head Of Operations at Momenta\n\nI suppose just to add to what Gary has said in terms of whether they would pivot, we are already seeing it in terms of some of our existing clients where, complaints around affordability and responsible lending are being, sort of buried within the DCA complaint. And that is outside of the pause, so that is an activity, again, if firms have got complaints sitting waiting, it\u2019d be a good exercise to start triaging those and looking at those. So the CMC\u2019s have already pivoted. And we\u2019re seeing it with some of our clients.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nWe have another question, and it might be a little bit harsh to throw this out at you guys. It\u2019s quite a difficult one. But, a question on the wider implications in relation to payment of commissions. Do we have a view on how far reaching this could be, to whom and to the impact? And I suppose for me this is more about, you know, originally when we were going through the Supreme Court ruling, there was talk about, this isn\u2019t limited to motor finance if it\u2019s none DCA, but actually the kind of the whole consumer credit space is, is up for grabs.\n\nGiven what they\u2019ve stated, what do you think the potential implications are for kind of broadening this out to other parts of financial services and how incentivised and motivated do you think the FCA are of actually doing that?\n\nGary Maude- Director of Advisory Services for TCC Group\n\nFrom memory I have, intentional avoiding of that question, because it could come up in the jury of courts.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI tell you what we\u2019ll do. We will collate Gary\u2019s answer and we will put that back in an email afterwards. Mike, did you have a view on any of that?\n\nMike Morris- Head Of Operations at Momenta\n\nTo default to, to Gary\u2019s opinion in terms of the wider range of impacts of that. So I think it\u2019s best if, if Gary collates his response, that\u2019d be great.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI mean my I\u2019m and whilst it\u2019s not a desperately educated one, my personal opinion is that the FCA aren\u2019t, particularly motivated to do this at the moment. The government put quite a lot of pressure on the FCA to, to limit things down. And so there\u2019s no they\u2019re not looking for opportunities to take this further. I think what would be interesting is whether the CMCs find that angle. And if the CMCs find an angle to go after, but I think that would kind of push the, the FCA one way or the other.\n\nI think that draws us to a close today. Between us, TCC, Momenta and Recordsure have the capability to help with any of your needs regarding this coming remediation program from advice through to technology and the specialist resource and outsourced managed services. If you do wish to continue this conversation, or if you\u2019d like a free consultation hour to test your thinking and plans, please do reach out to me. And if not, then I wish you a very nice afternoon. Thank you very much.\n\nThe message is clear: uncertainty is no reason for inaction. Firms can start preparing now by verifying data integrity, segmenting historical cases, reviewing dealer arrangements and addressing vulnerable customer risks. This puts organisations in a better position to secure scarce resources and execute remediation quickly.\n\nTCC, Recordsure and Momenta bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver.", "wordCount": 1392, "keywords": [ "Insurance", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Remediation preparation" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage" }, "inLanguage": "en-GB", "text": "As the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can\u2019t afford to sit still. Recommended next steps include data mining, disclosure reviews and early procurement moves.\n\nPotential ripple effects across the wider consumer credit market remain in scope, including whether claims management companies (CMCs) could push the FCA\u2019s hand to expand the scheme." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage" }, "inLanguage": "en-GB", "headline": "Recommended preparation and scope discussion", "text": "In, on the back of that then, if I can, I hand back to Gary. In terms of what motor finance creditors need to do now, what is the kind of TCC recommended approach and timings from here?\n\nGary Maude- Director of Advisory Services for TCC Group\n\nSo just before I get on to that. Overriding factor, I would give people, especially those on the call who I think were involved in big past business reviews in the past is to really challenge where you\u2019re starting from, hope for the best, plan for the worst. Verify the integrity of your data. And, if the FCA goes back to 2007, I think many of us will start to question the integrity or even existence of information going back that far.\n\nI was going to go on and just talk about what you\u2019re looking for, which is, cases which involve discretionary commission, cases with high commission levels, determining disclosure practices of firm\u2019s distribution, how the disclosure was commissioned, e.g. did they simply disclose it existed versus what might be received? We don\u2019t know what the relevance of that is going to be going forward. Whether they need to disclose quantum to get past that particular hurdle.\n\nI would be looking to data mine as far back as you can, get some general sense of comfort and then start getting into tranches or buckets, as we say in Yorkshire, of how comfortable you are with your data, taking into account any distribution arrangements with motor dealers, whether they were consistent with the scope of service they set out to the consumer and indeed to you.\n\nI think someone just raised the question about vulnerability. Will CMCs start manipulating, the customers to make them sound like they are vulnerable? Well, they may do, but to go back to where we started from earlier, the FCA, consultation should hopefully take into account considerations of vulnerability. Whether or not some of those claims were vexatious versus sophisticated all the bits in between. So they\u2019re possibly no doubt they will try if they are allowed to even get involved.\n\nThere are a number of things you should be getting on with now. But, overall data mine as much as you possibly can. And just see what you think you\u2019re starting with and go from there.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI guess if I look to summarise kind of where we got to, I think the remediation and redress environment is muddier and more complicated than we thought it was going to be. And I think as a result of that, there\u2019s an awful lot of information that\u2019s up in the air and clarity is not going to be known for a while yet. However, that isn\u2019t a reason not to do anything. As has been called out, there is going to be a resource challenge, for these projects. And if there\u2019s a real resource challenge, then the people who get out there first with an RFP, say, with the ones who get those resources.\n\nGetting yourself prepared is going to be really key, in order to be, kind of finishing this process quickly and effectively. And data is going to be a core part of that, understanding your populations, getting the data for everything from your relationships with your, kind of dealers and, and dealerships and brokers and right away through to what information do you hold on customers going back all the way to 2007, which is going to be a challenge.\n\nIf you can get that and your policies and your processes set up effectively, you\u2019re going to be in the best possible place in order to take this forward. That\u2019s about all we wanted to cover here today. We have got a couple of questions, that I think we can go to now. Gary talked a bit about the vulnerable customers piece. Mike, have you anything to add on the vulnerable customers piece with the CMC\u2019s?\n\nMike Morris- Head Of Operations at Momenta\n\nI suppose just to add to what Gary has said in terms of whether they would pivot, we are already seeing it in terms of some of our existing clients where, complaints around affordability and responsible lending are being, sort of buried within the DCA complaint. And that is outside of the pause, so that is an activity, again, if firms have got complaints sitting waiting, it\u2019d be a good exercise to start triaging those and looking at those. So the CMC\u2019s have already pivoted. And we\u2019re seeing it with some of our clients.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nWe have another question, and it might be a little bit harsh to throw this out at you guys. It\u2019s quite a difficult one. But, a question on the wider implications in relation to payment of commissions. Do we have a view on how far reaching this could be, to whom and to the impact? And I suppose for me this is more about, you know, originally when we were going through the Supreme Court ruling, there was talk about, this isn\u2019t limited to motor finance if it\u2019s none DCA, but actually the kind of the whole consumer credit space is, is up for grabs.\n\nGiven what they\u2019ve stated, what do you think the potential implications are for kind of broadening this out to other parts of financial services and how incentivised and motivated do you think the FCA are of actually doing that?\n\nGary Maude- Director of Advisory Services for TCC Group\n\nFrom memory I have, intentional avoiding of that question, because it could come up in the jury of courts.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI tell you what we\u2019ll do. We will collate Gary\u2019s answer and we will put that back in an email afterwards. Mike, did you have a view on any of that?\n\nMike Morris- Head Of Operations at Momenta\n\nTo default to, to Gary\u2019s opinion in terms of the wider range of impacts of that. So I think it\u2019s best if, if Gary collates his response, that\u2019d be great.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nI mean my I\u2019m and whilst it\u2019s not a desperately educated one, my personal opinion is that the FCA aren\u2019t, particularly motivated to do this at the moment. The government put quite a lot of pressure on the FCA to, to limit things down. And so there\u2019s no they\u2019re not looking for opportunities to take this further. I think what would be interesting is whether the CMCs find that angle. And if the CMCs find an angle to go after, but I think that would kind of push the, the FCA one way or the other.\n\nI think that draws us to a close today. Between us, TCC, Momenta and Recordsure have the capability to help with any of your needs regarding this coming remediation program from advice through to technology and the specialist resource and outsourced managed services. If you do wish to continue this conversation, or if you\u2019d like a free consultation hour to test your thinking and plans, please do reach out to me. And if not, then I wish you a very nice afternoon. Thank you very much.\n\nThe message is clear: uncertainty is no reason for inaction. Firms can start preparing now by verifying data integrity, segmenting historical cases, reviewing dealer arrangements and addressing vulnerable customer risks. This puts organisations in a better position to secure scarce resources and execute remediation quickly.\n\nTCC, Recordsure and Momenta bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/plan-for-the-worst-act-early-winning-the-remediation-race/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What should motor finance creditors do now?", "acceptedAnswer": { "@type": "Answer", "text": "Motor finance creditors should data mine, review disclosures, check dealer arrangements and plan resources early." } }, { "@type": "Question", "name": "Why does data integrity matter?", "acceptedAnswer": { "@type": "Answer", "text": "If the FCA goes back to 2007, firms may need to test the integrity or existence of historic information." } }, { "@type": "Question", "name": "What complaint risks did the panel discuss?", "acceptedAnswer": { "@type": "Answer", "text": "The discussion covered vulnerable customer claims and claims management companies pivoting affordability or responsible lending complaints into DCA complaints." } }, { "@type": "Question", "name": "Why act before final clarity?", "acceptedAnswer": { "@type": "Answer", "text": "Clarity may take time, but resourcing constraints mean firms that prepare procurement early may secure scarce resources." } } ] } ] } ``` ### The resourcing crunch: preparing for a remediation surge - URL: https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/ - Published: 2025-08-22 - Modified: 2026-10-09 **Topic:** Remediation resourcing The Supreme Court ruling is expected to move more motor finance complaints outside simple automated redress, increasing demand for experienced remediation resource. Firms can reduce delivery risk by preparing policies, procedures and resourcing models before the FCA scheme is finalised. #### Key points - Automated redress may cover fewer cases than firms previously expected. - More complaints may need experienced handlers because unfair-practice issues require nuanced decisions. - Demand for specialist remediation resource could exceed supply over the next 18 months. - Policy and procedure readiness can help firms scale faster and support less experienced teams. [Related video](https://vimeo.com/1111014045) Resourcing is likely to be one of the largest operational challenges in the upcoming motor finance remediation and redress programme. In [part four of the webinar](https://vimeo.com/1111014045), Mike Morris, Head of Operations at Momenta, explained that the Supreme Court ruling has shifted expectations away from a high-volume automated redress model towards more complex complaint handling. Firms need to plan for demand, procurement pressure and the risk of many organisations trying to recruit from the same skilled resource pool at the same time. Garry Evans framed resource as an interesting challenge for the industry and asked how remediation would have looked operationally before the ruling, and what had changed given what the panel had heard. Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group, led the webinar with Mike Morris, Head of Operations at Momenta, focusing on the balance between technology-led redress and the realities of delivering remediation across the industry. #### How the ruling changes remediation Before the ruling, the industry expected a redress scheme covering DCA cases and potentially non-DCA cases. Mike Morris said that process could have been relatively straightforward, with technology automating process steps from tracing through to redress and customer contact for perhaps 75-80% or more of the population. Some cases were always expected to sit outside that automated path. Examples included files with missing customer data, collections activity, vulnerability flags or deceased customers. Those cases would have needed a more tailored process and human review. The main change is that the volume of cases suitable for automated redress now appears lower. Issues raised around unfair practices may mean a higher volume of complaints falls outside auto redress, and those complaints are likely to be more complex to review. Mike Morris explained that the earlier expected process would have used workflow technology to move large populations through tracing, redress and customer contact. The exception population would have needed a non-happy-path process for cases where the standard customer file was not enough to support automated treatment. #### Why complex complaints need skilled handlers Complex complaint handling is expected to need more experienced resource. Mike Morris noted that claims management companies are likely to add further complaint points, which firms will need to triage and identify. That creates a more nuanced decision-making process. The result is a changed cost profile. Payments to customers may be lower than under a wider automated scheme, but the processing cost of remediation could be higher because more cases require skilled human judgement. Since the ruling on the 3rd, some motor finance creditors have begun procurement exercises before the FCA has provided complete clarity on scope and process. Garry Evans observed that access to the right type of resource may become difficult if many firms try to move at the same time. He said claims management company behaviour with existing clients and providers suggested additional complaint points would be introduced into cases. Firms would therefore need to identify and triage those points before reaching a decision. That makes the work less mechanical and increases the need for experienced reviewers. The balance has therefore moved beyond describing a simple automated process. Firms now need to plan for bespoke handling, additional complaint points, missing file data and exceptions that cannot be completed by standard workflow alone. #### Readiness and market capacity The webinar audience was asked what stage of planning they had reached for an expected remediation and redress project. Although the poll had a limited number of respondents, more than half had not started and most of the rest were at the initial preparation stage. Garry Evans said TCC was already seeing RFP activity and clients who had been working on the issue for some time. Mike Morris explained that entry-level case handlers may be available for more straightforward DCA processes, but unfair-practices work is more specialised. It requires experience in assessing fairness, customer circumstances and details around the sale. Because all motor finance firms with a back book of affected agreements will be impacted, and many remediation projects are expected over the next 18 months, there may be a shortage of specialist resource. That shortage could affect cost and create delivery risk for some projects. Garry Evans described procurement activity beginning before the FCA had provided complete clarity on scope and process. His concern was that if firms move at the same time, the right type of resource may be in high demand and difficult to secure. Mike Morris said the market was fuller for entry-level case handlers who could support more straightforward DCA processing. The potential shortage sits in the more specialised work, where handlers must assess fairness, customer circumstances and sales details. Delivery organisations may not have separate pools of qualified resources. The Big Four, legal firms with servicing arms, business process outsources, specialist compliance consultancies and professional services businesses may all be fishing in the same associate pool. The panel expected an 18-month period in which many projects could be running at once. That creates pressures ahead of final FCA detail, particularly where firms are already engaging procurement and trying to understand what resource will be ready. #### Preparing to scale delivery One mitigation is to consider alternative delivery models. Momenta described an offshore solution in South Africa, with experienced resources available to be deployed at a reduced cost. Another mitigation is early preparation. Firms that have not started can review policies and procedures and assess whether the supporting detail is suitable. Although the final redress scheme is not confirmed, work can be done to bring complaint handling and practices up to date. Thorough policies and detailed procedures should help businesses scale operations faster. They may also allow firms to use less experienced resource where that resource is supported by clear process guidance. With more complaints likely to require case-by-case assessment, firms that start preparing now by reviewing policies, tightening procedures and considering alternative delivery models will be better positioned to respond at scale when the FCA finalises its redress scheme. [TCC](https://tcc.group/advisory-services/motor-finance-compliance/), [Recordsure](/sectors/) and [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/) can support preparation. Preparation can start before the scheme detail is confirmed. Firms can examine current complaint practices, understand the suitability of policy detail and make sure procedures are thorough enough to support consistent scaling. That planning should help firms secure the right skills, design efficient processes and minimise operational risk before the starting gun fires. It also gives businesses a clearer basis for procurement decisions instead of waiting for complete clarity and competing for resource under pressure. Firms should not wait until demand is at its biggest. Preparing now helps them avoid falling behind other firms and gives them a better chance of having qualified people in place. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The resourcing crunch: preparing for a remediation surge", "item": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/", "name": "The resourcing crunch: preparing for a remediation surge", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-22T14:23:57+01:00", "dateModified": "2025-09-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The resourcing crunch: preparing for a remediation surge", "datePublished": "2025-08-22T14:23:57+01:00", "dateModified": "2026-10-09T04:50:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b5cffbde66d841a38c6cb57b3a6bb218/thumbnail-1024-cc2ab9362ccef716bea31e5ad8a8023c9ac3a715f82ea42bc66b7ace1e2b8bec.jpg", "description": "Motor finance firms preparing for redress may face a shortage of experienced case handlers as more complaints require nuanced, case-by-case assessment rather than automated processing.", "inLanguage": "en-GB", "articleBody": "The Supreme Court ruling is expected to move more motor finance complaints outside simple automated redress, increasing demand for experienced remediation resource. Firms can reduce delivery risk by preparing policies, procedures and resourcing models before the FCA scheme is finalised.\n\nResourcing is likely to be one of the largest operational challenges in the upcoming motor finance remediation and redress programme. In part four of the webinar, Mike Morris, Head of Operations at Momenta, explained that the Supreme Court ruling has shifted expectations away from a high-volume automated redress model towards more complex complaint handling.\n\nFirms need to plan for demand, procurement pressure and the risk of many organisations trying to recruit from the same skilled resource pool at the same time.\n\nGarry Evans framed resource as an interesting challenge for the industry and asked how remediation would have looked operationally before the ruling, and what had changed given what the panel had heard.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group, led the webinar with Mike Morris, Head of Operations at Momenta, focusing on the balance between technology-led redress and the realities of delivering remediation across the industry.\n\nHow the ruling changes remediation\n\nBefore the ruling, the industry expected a redress scheme covering DCA cases and potentially non-DCA cases. Mike Morris said that process could have been relatively straightforward, with technology automating process steps from tracing through to redress and customer contact for perhaps 75-80% or more of the population.\n\nSome cases were always expected to sit outside that automated path. Examples included files with missing customer data, collections activity, vulnerability flags or deceased customers. Those cases would have needed a more tailored process and human review.\n\nThe main change is that the volume of cases suitable for automated redress now appears lower. Issues raised around unfair practices may mean a higher volume of complaints falls outside auto redress, and those complaints are likely to be more complex to review.\n\nMike Morris explained that the earlier expected process would have used workflow technology to move large populations through tracing, redress and customer contact. The exception population would have needed a non-happy-path process for cases where the standard customer file was not enough to support automated treatment.\n\nWhy complex complaints need skilled handlers\n\nComplex complaint handling is expected to need more experienced resource. Mike Morris noted that claims management companies are likely to add further complaint points, which firms will need to triage and identify. That creates a more nuanced decision-making process.\n\nThe result is a changed cost profile. Payments to customers may be lower than under a wider automated scheme, but the processing cost of remediation could be higher because more cases require skilled human judgement.\n\nSince the ruling on the 3rd, some motor finance creditors have begun procurement exercises before the FCA has provided complete clarity on scope and process. Garry Evans observed that access to the right type of resource may become difficult if many firms try to move at the same time.\n\nHe said claims management company behaviour with existing clients and providers suggested additional complaint points would be introduced into cases. Firms would therefore need to identify and triage those points before reaching a decision. That makes the work less mechanical and increases the need for experienced reviewers.\n\nThe balance has therefore moved beyond describing a simple automated process. Firms now need to plan for bespoke handling, additional complaint points, missing file data and exceptions that cannot be completed by standard workflow alone.\n\nReadiness and market capacity\n\nThe webinar audience was asked what stage of planning they had reached for an expected remediation and redress project. Although the poll had a limited number of respondents, more than half had not started and most of the rest were at the initial preparation stage. Garry Evans said TCC was already seeing RFP activity and clients who had been working on the issue for some time.\n\nMike Morris explained that entry-level case handlers may be available for more straightforward DCA processes, but unfair-practices work is more specialised. It requires experience in assessing fairness, customer circumstances and details around the sale.\n\nBecause all motor finance firms with a back book of affected agreements will be impacted, and many remediation projects are expected over the next 18 months, there may be a shortage of specialist resource. That shortage could affect cost and create delivery risk for some projects.\n\nGarry Evans described procurement activity beginning before the FCA had provided complete clarity on scope and process. His concern was that if firms move at the same time, the right type of resource may be in high demand and difficult to secure.\n\nMike Morris said the market was fuller for entry-level case handlers who could support more straightforward DCA processing. The potential shortage sits in the more specialised work, where handlers must assess fairness, customer circumstances and sales details.\n\nDelivery organisations may not have separate pools of qualified resources. The Big Four, legal firms with servicing arms, business process outsources, specialist compliance consultancies and professional services businesses may all be fishing in the same associate pool.\n\nThe panel expected an 18-month period in which many projects could be running at once. That creates pressures ahead of final FCA detail, particularly where firms are already engaging procurement and trying to understand what resource will be ready.\n\nPreparing to scale delivery\n\nOne mitigation is to consider alternative delivery models. Momenta described an offshore solution in South Africa, with experienced resources available to be deployed at a reduced cost.\n\nAnother mitigation is early preparation. Firms that have not started can review policies and procedures and assess whether the supporting detail is suitable. Although the final redress scheme is not confirmed, work can be done to bring complaint handling and practices up to date.\n\nThorough policies and detailed procedures should help businesses scale operations faster. They may also allow firms to use less experienced resource where that resource is supported by clear process guidance.\n\nWith more complaints likely to require case-by-case assessment, firms that start preparing now by reviewing policies, tightening procedures and considering alternative delivery models will be better positioned to respond at scale when the FCA finalises its redress scheme. TCC, Recordsure and Momenta can support preparation.\n\nPreparation can start before the scheme detail is confirmed. Firms can examine current complaint practices, understand the suitability of policy detail and make sure procedures are thorough enough to support consistent scaling.\n\nThat planning should help firms secure the right skills, design efficient processes and minimise operational risk before the starting gun fires. It also gives businesses a clearer basis for procurement decisions instead of waiting for complete clarity and competing for resource under pressure.\n\nFirms should not wait until demand is at its biggest. Preparing now helps them avoid falling behind other firms and gives them a better chance of having qualified people in place.", "wordCount": 1142, "keywords": [ "Lending and Credit", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Remediation resourcing" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "text": "Resourcing is likely to be one of the largest operational challenges in the upcoming motor finance remediation and redress programme. In part four of the webinar, Mike Morris, Head of Operations at Momenta, explained that the Supreme Court ruling has shifted expectations away from a high-volume automated redress model towards more complex complaint handling.\n\nFirms need to plan for demand, procurement pressure and the risk of many organisations trying to recruit from the same skilled resource pool at the same time.\n\nGarry Evans framed resource as an interesting challenge for the industry and asked how remediation would have looked operationally before the ruling, and what had changed given what the panel had heard.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group, led the webinar with Mike Morris, Head of Operations at Momenta, focusing on the balance between technology-led redress and the realities of delivering remediation across the industry." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "headline": "How the ruling changes remediation", "text": "Before the ruling, the industry expected a redress scheme covering DCA cases and potentially non-DCA cases. Mike Morris said that process could have been relatively straightforward, with technology automating process steps from tracing through to redress and customer contact for perhaps 75-80% or more of the population.\n\nSome cases were always expected to sit outside that automated path. Examples included files with missing customer data, collections activity, vulnerability flags or deceased customers. Those cases would have needed a more tailored process and human review.\n\nThe main change is that the volume of cases suitable for automated redress now appears lower. Issues raised around unfair practices may mean a higher volume of complaints falls outside auto redress, and those complaints are likely to be more complex to review.\n\nMike Morris explained that the earlier expected process would have used workflow technology to move large populations through tracing, redress and customer contact. The exception population would have needed a non-happy-path process for cases where the standard customer file was not enough to support automated treatment." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "headline": "Why complex complaints need skilled handlers", "text": "Complex complaint handling is expected to need more experienced resource. Mike Morris noted that claims management companies are likely to add further complaint points, which firms will need to triage and identify. That creates a more nuanced decision-making process.\n\nThe result is a changed cost profile. Payments to customers may be lower than under a wider automated scheme, but the processing cost of remediation could be higher because more cases require skilled human judgement.\n\nSince the ruling on the 3rd, some motor finance creditors have begun procurement exercises before the FCA has provided complete clarity on scope and process. Garry Evans observed that access to the right type of resource may become difficult if many firms try to move at the same time.\n\nHe said claims management company behaviour with existing clients and providers suggested additional complaint points would be introduced into cases. Firms would therefore need to identify and triage those points before reaching a decision. That makes the work less mechanical and increases the need for experienced reviewers.\n\nThe balance has therefore moved beyond describing a simple automated process. Firms now need to plan for bespoke handling, additional complaint points, missing file data and exceptions that cannot be completed by standard workflow alone." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "headline": "Readiness and market capacity", "text": "The webinar audience was asked what stage of planning they had reached for an expected remediation and redress project. Although the poll had a limited number of respondents, more than half had not started and most of the rest were at the initial preparation stage. Garry Evans said TCC was already seeing RFP activity and clients who had been working on the issue for some time.\n\nMike Morris explained that entry-level case handlers may be available for more straightforward DCA processes, but unfair-practices work is more specialised. It requires experience in assessing fairness, customer circumstances and details around the sale.\n\nBecause all motor finance firms with a back book of affected agreements will be impacted, and many remediation projects are expected over the next 18 months, there may be a shortage of specialist resource. That shortage could affect cost and create delivery risk for some projects.\n\nGarry Evans described procurement activity beginning before the FCA had provided complete clarity on scope and process. His concern was that if firms move at the same time, the right type of resource may be in high demand and difficult to secure.\n\nMike Morris said the market was fuller for entry-level case handlers who could support more straightforward DCA processing. The potential shortage sits in the more specialised work, where handlers must assess fairness, customer circumstances and sales details.\n\nDelivery organisations may not have separate pools of qualified resources. The Big Four, legal firms with servicing arms, business process outsources, specialist compliance consultancies and professional services businesses may all be fishing in the same associate pool.\n\nThe panel expected an 18-month period in which many projects could be running at once. That creates pressures ahead of final FCA detail, particularly where firms are already engaging procurement and trying to understand what resource will be ready." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "headline": "Preparing to scale delivery", "text": "One mitigation is to consider alternative delivery models. Momenta described an offshore solution in South Africa, with experienced resources available to be deployed at a reduced cost.\n\nAnother mitigation is early preparation. Firms that have not started can review policies and procedures and assess whether the supporting detail is suitable. Although the final redress scheme is not confirmed, work can be done to bring complaint handling and practices up to date.\n\nThorough policies and detailed procedures should help businesses scale operations faster. They may also allow firms to use less experienced resource where that resource is supported by clear process guidance.\n\nWith more complaints likely to require case-by-case assessment, firms that start preparing now by reviewing policies, tightening procedures and considering alternative delivery models will be better positioned to respond at scale when the FCA finalises its redress scheme. TCC, Recordsure and Momenta can support preparation.\n\nPreparation can start before the scheme detail is confirmed. Firms can examine current complaint practices, understand the suitability of policy detail and make sure procedures are thorough enough to support consistent scaling.\n\nThat planning should help firms secure the right skills, design efficient processes and minimise operational risk before the starting gun fires. It also gives businesses a clearer basis for procurement decisions instead of waiting for complete clarity and competing for resource under pressure.\n\nFirms should not wait until demand is at its biggest. Preparing now helps them avoid falling behind other firms and gives them a better chance of having qualified people in place." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-resourcing-crunch-preparing-for-a-remediation-surge/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why could motor finance remediation need more experienced resource?", "acceptedAnswer": { "@type": "Answer", "text": "More cases may fall outside automated redress because unfair-practice issues require nuanced assessment of complaint points, fairness and customer circumstances." } }, { "@type": "Question", "name": "What work was previously expected to be automated?", "acceptedAnswer": { "@type": "Answer", "text": "A workflow system was expected to automate tracing, redress and customer contact for DCA and potentially non-DCA cases." } }, { "@type": "Question", "name": "What delivery risk did the webinar identify?", "acceptedAnswer": { "@type": "Answer", "text": "Many firms may need specialist resource within the next 18 months, creating a shortage that could increase costs and affect delivery." } }, { "@type": "Question", "name": "How can firms prepare before the scheme is finalised?", "acceptedAnswer": { "@type": "Answer", "text": "They can review policies and procedures, improve complaint-handling detail and consider alternative delivery models, including offshore support." } } ] } ] } ``` ### From legal definitions to operational realities: who feels the impact? - URL: https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/ - Published: 2025-08-21 - Modified: 2026-10-09 **Topic:** Motor finance redress Motor finance redress could depend on case-specific fairness factors, including commission size, disclosure, consumer characteristics, scheme design and operational capacity. #### Key points - The Supreme Court recognised that commission payments may be legal while fairness depends on each case. - The Johnson case highlighted commission size, disclosure practices and consumer characteristics. - FCA consultation could shape redress scope, scheme design and complaint backlog handling. - Stakeholders may need more bespoke, resource-intensive complaint handling. [Related video](https://vimeo.com/1111013534) Our experts unpack the Supreme Court’s nuanced stance on commission arrangements – recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explore factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an “unfair relationship” under the Consumer Credit Act. The operational realities also affect the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA’s forthcoming consultation could shape redress scope and processes. [Watch part three of the webinar](https://vimeo.com/1111013534). #### Gary Maude on legal definitions and unfair relationships Very quickly, the Supreme Court ruled that in many cases, commission payments could be legal, but also that in circumstances yet to be prescribed and wasn’t part of their deliberation may not be fair. So, for example, in the case of Johnson and the size of the commission paid and the manner in which it was disclosed, in terms of transparency, led to the conclusion that the relationship was unfair. The Supreme Court stated, as many of us will know, the several factors, could indicate an unfair relationship or contravene the CCA, whilst equally recognising it depends on the facets of each case individually, which is very helpful when, someone like Mike is trying to set up a process for a past business review. And just for those who aren’t aware the factors could include the size of the commission with Johnson’s 55% relative to the charge of credit, the nature of commission whether it’s discretionary or none, the characteristics of the consumer again, does that imply that some customers would be excludable because they’re sophisticated. All these things were yet to learn compliance with regulatory rules. Interesting, in this point in this in this sort of case that you could argue it was compliant in terms of disclosure, but the transparency, placement, etc., of the act of disclosure was what caused the scrutiny. Hence the extent and manner of the disclosure. The FCA, will now have to consider the above when deciding which cases should fall within the scope of redress scheme, but rightfully that’s going to be straightforward. In our opinion, not least, things like opt in, opt out. When I read this as respect to a number of in a legal contacts, it felt as though, whether or not that the Treasury, pressure or influence the FCA was looking to reduce the cost and reduce the burden on lenders by way of an approach to this. However, when Mike and I spoke about this recently, we’re just wondering if it’s in some ways the opposite, because you’re having to upskill to other people doing that work. So there were those type of considerations, not least, when does the commission stop being fair and becomes unfair? Is there a pivot point, etc., etc.. The FCA now committed to doing consultation for October 25. Beyond this, the FCA anticipates that scheme will be finalised in time for complainants to start receiving compensation scheme next year. And whether it be opt in, opt out combination of the two, depending on circumstances I think will be really interesting for those of you who’ve got backlogs of complaints and whether or not you can carve any of those out or whether or not they have to stay in pending some other type of approach the FCA have yet to prescribe. I mean look at the implications for stakeholders. What might that be, for creditors this could be a much larger, potential for exception population, a lot more work to determine where complaint has a case for consumers, a lot more confusion about whether they qualify for a payment. Do they have to opt in if they have made a complaint already, etc.? Are they going to have to try their luck via CMCs if some PBRs are unclear, too aggressive, lack of consistency in approach across the industry. For CMCs, is this the lifeline back into motor finance again? I personally got the impression the FCA were trying to discourage customers from using CMCs if possible to, to move the progress for all, new complaints will be filled, potentially with time consuming DSAR requests by CMCs. Do you want to dispute your outcomes? And for brokers, car dealerships, there’s now perhaps got to be a refreshed review of fair value assessment from a Consumer Duty lens. And, looking again at the B2B, B2C relationships, CMC focus will be split between creditors and those at the end of the commission payment. So overall, I can’t help thinking there are going to be a big need for complaint handlers, for anyone with a backlog of complaints. Over to you, Garry. #### Garry Evans- Chief Product Officer and Chief Commercial Officer for TCC Group Thanks, Gary. On that basis, then where we expect a kind of lower redress provision overall because of the exclusion of kind of, none DCAs an en-masse blanket kind of opt in. But their greater complexity in having to assess the complaints. I want to run a second poll now, if that’s okay. Based on the cost and time required to conduct the remediation process. What impact did this ruling have on the likely cost of remediation? If you exclude the actual redress payments to the clients? And we’ll give you kind of, ten – twenty seconds to have a think about that one, as I’ve given you lots of options with lots of numbers in there. If we can see the results. Wow. I guess the, the kind of just over a third of you struggling to quantify might, might be the reason why there’s such a split across, across all of these. #### Ready to see the full webinar – you can watch the full 30 minutes here. As this discussion shows, the ruling’s complexity extends far beyond simple definitions of lawful and unlawful commission. It raises questions about opt-in versus opt-out schemes, the impact on backlog complaints and the potential resurgence of CMC involvement. Stakeholders across the industry will need to prepare for more bespoke, resource-intensive complaint handling, even if overall redress values fall. For firms navigating these changes, clarity on FCA expectations, strong governance frameworks and access to skilled remediation teams will be essential. [TCC,](https://tcc.group/advisory-services/motor-finance-compliance/) [Recordsure](/sectors/) and [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/) are ready to help you interpret the ruling, assess exposure, and design scalable solutions that stand up to regulatory scrutiny. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "From legal definitions to operational realities: who feels the impact?", "item": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/", "name": "From legal definitions to operational realities: who feels the impact?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-21T08:15:13+01:00", "dateModified": "2025-09-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "From legal definitions to operational realities: who feels the impact?", "datePublished": "2025-08-21T08:15:13+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/db005376f2714515a6ebf754aca5022b/thumbnail-1024-33cf314efb27051581e7d07e6bd98797158bea755f3b744cd3d1cc92d3a3c8c9.jpg", "description": "How commission legality, case-specific fairness and FCA consultation could affect creditors, brokers, CMCs and consumers in motor finance redress.", "inLanguage": "en-GB", "articleBody": "Motor finance redress could depend on case-specific fairness factors, including commission size, disclosure, consumer characteristics, scheme design and operational capacity.\n\nOur experts unpack the Supreme Court\u2019s nuanced stance on commission arrangements \u2013 recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explore factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an \u201cunfair relationship\u201d under the Consumer Credit Act.\n\nThe operational realities also affect the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA\u2019s forthcoming consultation could shape redress scope and processes.\n\nWatch part three of the webinar.\n\nGary Maude on legal definitions and unfair relationships\n\nVery quickly, the Supreme Court ruled that in many cases, commission payments could be legal, but also that in circumstances yet to be prescribed and wasn\u2019t part of their deliberation may not be fair. So, for example, in the case of Johnson and the size of the commission paid and the manner in which it was disclosed, in terms of transparency, led to the conclusion that the relationship was unfair.\n\nThe Supreme Court stated, as many of us will know, the several factors, could indicate an unfair relationship or contravene the CCA, whilst equally recognising it depends on the facets of each case individually, which is very helpful when, someone like Mike is trying to set up a process for a past business review. And just for those who aren\u2019t aware the factors could include the size of the commission with Johnson\u2019s 55% relative to the charge of credit, the nature of commission whether it\u2019s discretionary or none, the characteristics of the consumer again, does that imply that some customers would be excludable because they\u2019re sophisticated. All these things were yet to learn compliance with regulatory rules.\n\nInteresting, in this point in this in this sort of case that you could argue it was compliant in terms of disclosure, but the transparency, placement, etc., of the act of disclosure was what caused the scrutiny. Hence the extent and manner of the disclosure. The FCA, will now have to consider the above when deciding which cases should fall within the scope of redress scheme, but rightfully that\u2019s going to be straightforward.\n\nIn our opinion, not least, things like opt in, opt out. When I read this as respect to a number of in a legal contacts, it felt as though, whether or not that the Treasury, pressure or influence the FCA was looking to reduce the cost and reduce the burden on lenders by way of an approach to this. However, when Mike and I spoke about this recently, we\u2019re just wondering if it\u2019s in some ways the opposite, because you\u2019re having to upskill to other people doing that work. So there were those type of considerations, not least, when does the commission stop being fair and becomes unfair? Is there a pivot point, etc., etc..\n\nThe FCA now committed to doing consultation for October 25. Beyond this, the FCA anticipates that scheme will be finalised in time for complainants to start receiving compensation scheme next year. And whether it be opt in, opt out combination of the two, depending on circumstances I think will be really interesting for those of you who\u2019ve got backlogs of complaints and whether or not you can carve any of those out or whether or not they have to stay in pending some other type of approach the FCA have yet to prescribe.\n\nI mean look at the implications for stakeholders. What might that be, for creditors this could be a much larger, potential for exception population, a lot more work to determine where complaint has a case for consumers, a lot more confusion about whether they qualify for a payment. Do they have to opt in if they have made a complaint already, etc.? Are they going to have to try their luck via CMCs if some PBRs are unclear, too aggressive, lack of consistency in approach across the industry.\n\nFor CMCs, is this the lifeline back into motor finance again? I personally got the impression the FCA were trying to discourage customers from using CMCs if possible to, to move the progress for all, new complaints will be filled, potentially with time consuming DSAR requests by CMCs. Do you want to dispute your outcomes? And for brokers, car dealerships, there\u2019s now perhaps got to be a refreshed review of fair value assessment from a Consumer Duty lens. And, looking again at the B2B, B2C relationships, CMC focus will be split between creditors and those at the end of the commission payment. So overall, I can\u2019t help thinking there are going to be a big need for complaint handlers, for anyone with a backlog of complaints. Over to you, Garry.\n\nGarry Evans- Chief Product Officer and Chief Commercial Officer for TCC Group\n\nThanks, Gary. On that basis, then where we expect a kind of lower redress provision overall because of the exclusion of kind of, none DCAs an en-masse blanket kind of opt in. But their greater complexity in having to assess the complaints.\n\nI want to run a second poll now, if that\u2019s okay. Based on the cost and time required to conduct the remediation process. What impact did this ruling have on the likely cost of remediation? If you exclude the actual redress payments to the clients? And we\u2019ll give you kind of, ten \u2013 twenty seconds to have a think about that one, as I\u2019ve given you lots of options with lots of numbers in there. If we can see the results. Wow. I guess the, the kind of just over a third of you struggling to quantify might, might be the reason why there\u2019s such a split across, across all of these.\n\nReady to see the full webinar \u2013 you can watch the full 30 minutes here.\n\nAs this discussion shows, the ruling\u2019s complexity extends far beyond simple definitions of lawful and unlawful commission. It raises questions about opt-in versus opt-out schemes, the impact on backlog complaints and the potential resurgence of CMC involvement. Stakeholders across the industry will need to prepare for more bespoke, resource-intensive complaint handling, even if overall redress values fall.\n\nFor firms navigating these changes, clarity on FCA expectations, strong governance frameworks and access to skilled remediation teams will be essential. TCC, Recordsure and Momenta are ready to help you interpret the ruling, assess exposure, and design scalable solutions that stand up to regulatory scrutiny.", "wordCount": 1097, "keywords": [ "Insurance", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Motor finance redress" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "inLanguage": "en-GB", "text": "Our experts unpack the Supreme Court\u2019s nuanced stance on commission arrangements \u2013 recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explore factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an \u201cunfair relationship\u201d under the Consumer Credit Act.\n\nThe operational realities also affect the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA\u2019s forthcoming consultation could shape redress scope and processes.\n\nWatch part three of the webinar." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "inLanguage": "en-GB", "headline": "Gary Maude on legal definitions and unfair relationships", "text": "Very quickly, the Supreme Court ruled that in many cases, commission payments could be legal, but also that in circumstances yet to be prescribed and wasn\u2019t part of their deliberation may not be fair. So, for example, in the case of Johnson and the size of the commission paid and the manner in which it was disclosed, in terms of transparency, led to the conclusion that the relationship was unfair.\n\nThe Supreme Court stated, as many of us will know, the several factors, could indicate an unfair relationship or contravene the CCA, whilst equally recognising it depends on the facets of each case individually, which is very helpful when, someone like Mike is trying to set up a process for a past business review. And just for those who aren\u2019t aware the factors could include the size of the commission with Johnson\u2019s 55% relative to the charge of credit, the nature of commission whether it\u2019s discretionary or none, the characteristics of the consumer again, does that imply that some customers would be excludable because they\u2019re sophisticated. All these things were yet to learn compliance with regulatory rules.\n\nInteresting, in this point in this in this sort of case that you could argue it was compliant in terms of disclosure, but the transparency, placement, etc., of the act of disclosure was what caused the scrutiny. Hence the extent and manner of the disclosure. The FCA, will now have to consider the above when deciding which cases should fall within the scope of redress scheme, but rightfully that\u2019s going to be straightforward.\n\nIn our opinion, not least, things like opt in, opt out. When I read this as respect to a number of in a legal contacts, it felt as though, whether or not that the Treasury, pressure or influence the FCA was looking to reduce the cost and reduce the burden on lenders by way of an approach to this. However, when Mike and I spoke about this recently, we\u2019re just wondering if it\u2019s in some ways the opposite, because you\u2019re having to upskill to other people doing that work. So there were those type of considerations, not least, when does the commission stop being fair and becomes unfair? Is there a pivot point, etc., etc..\n\nThe FCA now committed to doing consultation for October 25. Beyond this, the FCA anticipates that scheme will be finalised in time for complainants to start receiving compensation scheme next year. And whether it be opt in, opt out combination of the two, depending on circumstances I think will be really interesting for those of you who\u2019ve got backlogs of complaints and whether or not you can carve any of those out or whether or not they have to stay in pending some other type of approach the FCA have yet to prescribe.\n\nI mean look at the implications for stakeholders. What might that be, for creditors this could be a much larger, potential for exception population, a lot more work to determine where complaint has a case for consumers, a lot more confusion about whether they qualify for a payment. Do they have to opt in if they have made a complaint already, etc.? Are they going to have to try their luck via CMCs if some PBRs are unclear, too aggressive, lack of consistency in approach across the industry.\n\nFor CMCs, is this the lifeline back into motor finance again? I personally got the impression the FCA were trying to discourage customers from using CMCs if possible to, to move the progress for all, new complaints will be filled, potentially with time consuming DSAR requests by CMCs. Do you want to dispute your outcomes? And for brokers, car dealerships, there\u2019s now perhaps got to be a refreshed review of fair value assessment from a Consumer Duty lens. And, looking again at the B2B, B2C relationships, CMC focus will be split between creditors and those at the end of the commission payment. So overall, I can\u2019t help thinking there are going to be a big need for complaint handlers, for anyone with a backlog of complaints. Over to you, Garry." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "inLanguage": "en-GB", "headline": "Garry Evans- Chief Product Officer and Chief Commercial Officer for TCC Group", "text": "Thanks, Gary. On that basis, then where we expect a kind of lower redress provision overall because of the exclusion of kind of, none DCAs an en-masse blanket kind of opt in. But their greater complexity in having to assess the complaints.\n\nI want to run a second poll now, if that\u2019s okay. Based on the cost and time required to conduct the remediation process. What impact did this ruling have on the likely cost of remediation? If you exclude the actual redress payments to the clients? And we\u2019ll give you kind of, ten \u2013 twenty seconds to have a think about that one, as I\u2019ve given you lots of options with lots of numbers in there. If we can see the results. Wow. I guess the, the kind of just over a third of you struggling to quantify might, might be the reason why there\u2019s such a split across, across all of these." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "inLanguage": "en-GB", "headline": "Ready to see the full webinar \u2013 you can watch the full 30 minutes here.", "text": "As this discussion shows, the ruling\u2019s complexity extends far beyond simple definitions of lawful and unlawful commission. It raises questions about opt-in versus opt-out schemes, the impact on backlog complaints and the potential resurgence of CMC involvement. Stakeholders across the industry will need to prepare for more bespoke, resource-intensive complaint handling, even if overall redress values fall.\n\nFor firms navigating these changes, clarity on FCA expectations, strong governance frameworks and access to skilled remediation teams will be essential. TCC, Recordsure and Momenta are ready to help you interpret the ruling, assess exposure, and design scalable solutions that stand up to regulatory scrutiny." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/from-legal-definitions-to-operational-realities-who-feels-the-impact/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What matters for commission payments?", "acceptedAnswer": { "@type": "Answer", "text": "Commission payments may be legal while fairness depends on factors such as size, disclosure and consumer characteristics." } }, { "@type": "Question", "name": "Why is Johnson important?", "acceptedAnswer": { "@type": "Answer", "text": "Johnson shows how commission size and disclosure transparency can contribute to an unfair relationship finding." } }, { "@type": "Question", "name": "Which stakeholders are affected?", "acceptedAnswer": { "@type": "Answer", "text": "Creditors, consumers, claims management companies, brokers, car dealerships and firms with complaint backlogs may all be affected." } }, { "@type": "Question", "name": "What may the FCA consultation affect?", "acceptedAnswer": { "@type": "Answer", "text": "It may affect redress scope, opt-in or opt-out approaches and complaint backlog treatment." } } ] } ] } ``` ### Breaking down the ruling: what the Johnson case means for redress - URL: https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/ - Published: 2025-08-20 - Modified: 2026-10-09 **Topic:** Motor finance redress The Supreme Court’s discretionary commission ruling has narrowed some exposure while adding complexity for firms handling motor finance complaints. FCA plans for a compensation scheme and the practical impact of Johnson are central to redress preparation. #### Key points - The FCA confirmed it would consult on a motor finance compensation scheme after the Supreme Court ruling. - The Supreme Court overturned two cases but found Johnson involved an unfair relationship under the Consumer Credit Act. - Firms are balancing lower expected redress value with harder triage of non-DCA complaints. - Finance providers need to prepare for the FCA’s October consultation and the operational detail that follows. [Related video](https://vimeo.com/1111013076) The Supreme Court’s recent ruling on discretionary commission arrangements (DCAs) has affected the motor finance sector, with implications for redress and complaint handling. In this part of the webinar, Gary Evans and Gary Maude break down the facts, from the FCA’s announcement of a forthcoming compensation scheme to the key findings of the Johnson case. They explain how the decision has narrowed in scope while adding complexity, and what this may mean for firms already managing a high volume of complaints. #### What changed after Johnson Gary Maude, Director of Advisory Services for TCC Group, explained that on Sunday, 3rd of August, the FCA confirmed it would consult on a compensation scheme. The aim was to provide redress to consumers who were treated unfairly when taking out motor finance. That announcement followed the Supreme Court’s ruling on three cases. The ruling had concluded that commission payments to car dealers were unlawful and had potential wider implications for commission arrangements in general. Gary explained that the Supreme Court overturned two of the cases. In the remaining case, Johnson, the Supreme Court ruled that the commission arrangements created an unfair relationship between the consumer and the lender under the Consumer Credit Act, and that the commission was therefore unlawful. The FCA appears to believe that a formal compensation scheme is the best way forward, while still needing to provide clarity and certainty to firms and investors as quickly as possible. Gary said this should help create consistency in how complaints are handled, especially as complaint volumes had increased over the previous year. The FCA committed to publishing a consultation paper by early October 25 setting out proposals for a compensation scheme. It anticipated that the scheme would be finalised in time for complainants to start seeking compensation next year. The FCA had also stated that it would probably propose a scheme covering discretionary commission arrangements, with further discussion needed on opt-in and opt-out implications. #### Audience reaction and operational complexity Garry Evans then asked the webinar audience whether the long-awaited ruling made them feel more or less comfortable than before. He framed the question around the overruling of two cases and the narrowing of the focus on Johnson. The poll results were balanced. Garry described a seesaw effect: boards may feel some relief from what is expected to be a much lower redress value expectation, but firms also face the additional complexity of triaging and managing non-DCA complaints. He said the ruling muddies the water, so it is not simply good news. That uncertainty leads into a deeper discussion about the unfair practices considered by the Supreme Court and the implications for stakeholders in the remediation process. #### Preparing for the full discussion The recap sets the stage for a broader discussion in which lower expected redress values are balanced against operational challenges in triaging non-DCA complaints. The mixed poll results reflect sector uncertainty: some relief on liability, but greater complexity in execution. As the FCA moves towards its October consultation, understanding both the letter and spirit of the ruling will be important for finance providers preparing effectively. Firms needing guidance on interpreting the ruling, assessing complaint exposure or preparing for a redress scheme can draw on [TCC](https://tcc.group/advisory-services/motor-finance-compliance/), Recordsure and [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/) for regulatory insight, operational support and technology. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Breaking down the ruling: what the Johnson case means for redress", "item": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/", "name": "Breaking down the ruling: what the Johnson case means for redress", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-20T08:29:57+01:00", "dateModified": "2025-09-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Breaking down the ruling: what the Johnson case means for redress", "datePublished": "2025-08-20T08:29:57+01:00", "dateModified": "2026-10-09T04:50:05+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1f5d6597508544948d02aa52ad18c245/thumbnail-1024-67cee6ac34ffdb908ef064b289570c4094cdbc37e44e466aaee932c1cae28761.jpg", "description": "Gary Evans and Gary Maude explain the Supreme Court\u2019s Johnson decision, the FCA\u2019s planned compensation scheme and the operational challenge facing motor finance firms.", "inLanguage": "en-GB", "articleBody": "The Supreme Court\u2019s discretionary commission ruling has narrowed some exposure while adding complexity for firms handling motor finance complaints. FCA plans for a compensation scheme and the practical impact of Johnson are central to redress preparation.\n\nThe Supreme Court\u2019s recent ruling on discretionary commission arrangements (DCAs) has affected the motor finance sector, with implications for redress and complaint handling. In this part of the webinar, Gary Evans and Gary Maude break down the facts, from the FCA\u2019s announcement of a forthcoming compensation scheme to the key findings of the Johnson case.\n\nThey explain how the decision has narrowed in scope while adding complexity, and what this may mean for firms already managing a high volume of complaints.\n\nWhat changed after Johnson\n\nGary Maude, Director of Advisory Services for TCC Group, explained that on Sunday, 3rd of August, the FCA confirmed it would consult on a compensation scheme. The aim was to provide redress to consumers who were treated unfairly when taking out motor finance.\n\nThat announcement followed the Supreme Court\u2019s ruling on three cases. The ruling had concluded that commission payments to car dealers were unlawful and had potential wider implications for commission arrangements in general.\n\nGary explained that the Supreme Court overturned two of the cases. In the remaining case, Johnson, the Supreme Court ruled that the commission arrangements created an unfair relationship between the consumer and the lender under the Consumer Credit Act, and that the commission was therefore unlawful.\n\nThe FCA appears to believe that a formal compensation scheme is the best way forward, while still needing to provide clarity and certainty to firms and investors as quickly as possible. Gary said this should help create consistency in how complaints are handled, especially as complaint volumes had increased over the previous year.\n\nThe FCA committed to publishing a consultation paper by early October 25 setting out proposals for a compensation scheme. It anticipated that the scheme would be finalised in time for complainants to start seeking compensation next year. The FCA had also stated that it would probably propose a scheme covering discretionary commission arrangements, with further discussion needed on opt-in and opt-out implications.\n\nAudience reaction and operational complexity\n\nGarry Evans then asked the webinar audience whether the long-awaited ruling made them feel more or less comfortable than before. He framed the question around the overruling of two cases and the narrowing of the focus on Johnson.\n\nThe poll results were balanced. Garry described a seesaw effect: boards may feel some relief from what is expected to be a much lower redress value expectation, but firms also face the additional complexity of triaging and managing non-DCA complaints.\n\nHe said the ruling muddies the water, so it is not simply good news. That uncertainty leads into a deeper discussion about the unfair practices considered by the Supreme Court and the implications for stakeholders in the remediation process.\n\nPreparing for the full discussion\n\nThe recap sets the stage for a broader discussion in which lower expected redress values are balanced against operational challenges in triaging non-DCA complaints. The mixed poll results reflect sector uncertainty: some relief on liability, but greater complexity in execution.\n\nAs the FCA moves towards its October consultation, understanding both the letter and spirit of the ruling will be important for finance providers preparing effectively.\n\nFirms needing guidance on interpreting the ruling, assessing complaint exposure or preparing for a redress scheme can draw on TCC, Recordsure and Momenta for regulatory insight, operational support and technology.", "wordCount": 579, "keywords": [ "Lending and Credit", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Motor finance redress" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "inLanguage": "en-GB", "text": "The Supreme Court\u2019s recent ruling on discretionary commission arrangements (DCAs) has affected the motor finance sector, with implications for redress and complaint handling. In this part of the webinar, Gary Evans and Gary Maude break down the facts, from the FCA\u2019s announcement of a forthcoming compensation scheme to the key findings of the Johnson case.\n\nThey explain how the decision has narrowed in scope while adding complexity, and what this may mean for firms already managing a high volume of complaints." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "inLanguage": "en-GB", "headline": "What changed after Johnson", "text": "Gary Maude, Director of Advisory Services for TCC Group, explained that on Sunday, 3rd of August, the FCA confirmed it would consult on a compensation scheme. The aim was to provide redress to consumers who were treated unfairly when taking out motor finance.\n\nThat announcement followed the Supreme Court\u2019s ruling on three cases. The ruling had concluded that commission payments to car dealers were unlawful and had potential wider implications for commission arrangements in general.\n\nGary explained that the Supreme Court overturned two of the cases. In the remaining case, Johnson, the Supreme Court ruled that the commission arrangements created an unfair relationship between the consumer and the lender under the Consumer Credit Act, and that the commission was therefore unlawful.\n\nThe FCA appears to believe that a formal compensation scheme is the best way forward, while still needing to provide clarity and certainty to firms and investors as quickly as possible. Gary said this should help create consistency in how complaints are handled, especially as complaint volumes had increased over the previous year.\n\nThe FCA committed to publishing a consultation paper by early October 25 setting out proposals for a compensation scheme. It anticipated that the scheme would be finalised in time for complainants to start seeking compensation next year. The FCA had also stated that it would probably propose a scheme covering discretionary commission arrangements, with further discussion needed on opt-in and opt-out implications." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "inLanguage": "en-GB", "headline": "Audience reaction and operational complexity", "text": "Garry Evans then asked the webinar audience whether the long-awaited ruling made them feel more or less comfortable than before. He framed the question around the overruling of two cases and the narrowing of the focus on Johnson.\n\nThe poll results were balanced. Garry described a seesaw effect: boards may feel some relief from what is expected to be a much lower redress value expectation, but firms also face the additional complexity of triaging and managing non-DCA complaints.\n\nHe said the ruling muddies the water, so it is not simply good news. That uncertainty leads into a deeper discussion about the unfair practices considered by the Supreme Court and the implications for stakeholders in the remediation process." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "inLanguage": "en-GB", "headline": "Preparing for the full discussion", "text": "The recap sets the stage for a broader discussion in which lower expected redress values are balanced against operational challenges in triaging non-DCA complaints. The mixed poll results reflect sector uncertainty: some relief on liability, but greater complexity in execution.\n\nAs the FCA moves towards its October consultation, understanding both the letter and spirit of the ruling will be important for finance providers preparing effectively.\n\nFirms needing guidance on interpreting the ruling, assessing complaint exposure or preparing for a redress scheme can draw on TCC, Recordsure and Momenta for regulatory insight, operational support and technology." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/breaking-down-the-ruling-what-the-johnson-case-means-for-redress/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA confirm after the Supreme Court ruling?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA confirmed it would consult on a compensation scheme for consumers treated unfairly when taking out motor finance." } }, { "@type": "Question", "name": "What was significant about the Johnson case?", "acceptedAnswer": { "@type": "Answer", "text": "The Supreme Court found that the commission arrangements in Johnson created an unfair relationship between the consumer and lender under the Consumer Credit Act." } }, { "@type": "Question", "name": "Why does the ruling create operational complexity?", "acceptedAnswer": { "@type": "Answer", "text": "Firms may face lower expected redress values, but they also need to triage and manage non-DCA complaints alongside the scheme proposals." } }, { "@type": "Question", "name": "When did the FCA expect to publish its consultation paper?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA committed to publishing a consultation paper by early October 25." } } ] } ] } ``` ### Driving change: The Supreme Court ruling sparks industry debate - URL: https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/ - Published: 2025-08-19 - Modified: 2026-10-09 **Topic:** Motor finance redress Experts from TCC, Recordsure and Momenta discuss what the Supreme Court ruling and FCA consultation could mean for motor finance redress, including complaint scope, remediation readiness and technology-supported handling. #### Key points - The FCA’s proposed redress scheme could widen complaint scope if the unfairness threshold remains low. - A narrower focus, such as DCAs or a shorter lookback period, may ease operational pressure. - Firms should assess exposure, prepare scenarios, strengthen governance and plan customer engagement now. - Technology, including AI-supported handling, may help firms scale case-by-case remediation responses. [Related video](https://vimeo.com/1111012277) The FCA’s proposed motor finance redress scheme has sparked concern across the sector, with many fearing the bar for “unfairness” is set too low - potentially widening complaint scope and increasing liability. This session, led by experts from [TCC,](https://tcc.group/advisory-services/motor-finance-compliance/) [Recordsure](/sectors/) and [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/), examines what the consultation could mean in practice. The FCA’s approach could trigger a wave of claims management company-led complaints, but a narrower focus, such as limiting cases to discretionary commission arrangements (DCAs) or shortening the lookback period, might ease the burden while heightening the need for reliable, case-by-case handling. Watch now or read the transcript below to gain insights on: - The good: Clarity on FCA expectations, timelines and possible scope. - The challenges: Managing CMC-driven complaints, resourcing large-scale remediation, and protecting brand reputation under scrutiny. - What to do now: Assess exposure, prepare for multiple scenarios, strengthen governance and customer engagement, and explore how technology, including AI, can scale your response. #### Acting before the FCA update How firms act now will shape their risk, resilience and regulatory relationships for years to come. #### Garry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group Hello, everybody, and welcome to this webinar from TCC, Momenta and Recordsure covering the recent ruling from the Supreme Court on motor finance commission arrangements. My name is Garry Evans. I am the Chief Product Officer and Chief Commercial Officer for TCC Group incorporating both Momenta and Recordsure and I’m joined today by two colleagues, Gary Maude, who’s a highly experienced regulatory consultant and practitioner and who heads up the TCC advisory function and Mike Morris, the Head of Operations at Momenta, who’ve delivered countless remediation programmes and has been preparing for the DCA remediation and redress programme for more than 18 months. We are going to be running some anonymous polls throughout this webinar. We’re really keen to get your views and how you are feeling given the news in the last two weeks and I want to reassure you that there’s no way for us to attribute any answers to you individually or to your firm and so these polls truly are anonymous. The purpose of this webinar is to provide an overview of the Supreme Court ruling and the subsequent FCA commentary, but only as context. Since this has been covered several times in the past week by law firms. The more interesting elements of today will be the TCC / Momenta house views on what the ruling will mean for the shape and size of the remediation and redress programmes, and the implications on operational teams and customers. In addition to that, we would also like to provide some guidance on what motor finance creditors need to do now in advance to the October update of the FCA. #### Operational readiness for remediation If your firm is grappling with questions about the FCA’s proposed redress scheme, the scope of DCA-related complaints or operational readiness for large-scale remediation, don’t leave it to chance. TCC Group, Recordsure and Momenta have the regulatory expertise, operational delivery capability, and advanced technology to help you prepare, respond and protect your business. From strategic planning and policy reviews to resourcing, remediation delivery and AI-enabled complaint handling, we’ll help you navigate the uncertainty with confidence. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Driving change: The Supreme Court ruling sparks industry debate", "item": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/", "name": "Driving change: The Supreme Court ruling sparks industry debate", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-19T12:56:43+01:00", "dateModified": "2025-09-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-09-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Driving change: The Supreme Court ruling sparks industry debate", "datePublished": "2025-08-19T12:56:43+01:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-change-the-supreme-court-ruling-sparks-industry-debate/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/0b5c9e9fe9cf40c5b2189ecae85e406d/thumbnail-1024-03e1ea5b6b06f24202b2a1ddb18aaaaa492e34711912b4a4656697e102b5447f.jpg", "description": "A webinar summary on the FCA\u2019s proposed motor finance redress scheme, possible complaint scope, operational pressures and practical preparation for firms facing DCA remediation.", "inLanguage": "en-GB", "articleBody": "Experts from TCC, Recordsure and Momenta discuss what the Supreme Court ruling and FCA consultation could mean for motor finance redress, including complaint scope, remediation readiness and technology-supported handling.\n\nThe FCA\u2019s proposed motor finance redress scheme has sparked concern across the sector, with many fearing the bar for \u201cunfairness\u201d is set too low - potentially widening complaint scope and increasing liability.\n\nThis session, led by experts from TCC, Recordsure and Momenta, examines what the consultation could mean in practice. The FCA\u2019s approach could trigger a wave of claims management company-led complaints, but a narrower focus, such as limiting cases to discretionary commission arrangements (DCAs) or shortening the lookback period, might ease the burden while heightening the need for reliable, case-by-case handling.\n\nWatch now or read the transcript below to gain insights on:\n\n\u2022 The good: Clarity on FCA expectations, timelines and possible scope.\n\n\u2022 The challenges: Managing CMC-driven complaints, resourcing large-scale remediation, and protecting brand reputation under scrutiny.\n\u2022 What to do now: Assess exposure, prepare for multiple scenarios, strengthen governance and customer engagement, and explore how technology, including AI, can scale your response.\n\nActing before the FCA update\n\nHow firms act now will shape their risk, resilience and regulatory relationships for years to come.\n\nGarry Evans, Chief Product Officer and Chief Commercial Officer for TCC Group\n\nHello, everybody, and welcome to this webinar from TCC, Momenta and Recordsure covering the recent ruling from the Supreme Court on motor finance commission arrangements.\n\nMy name is Garry Evans. I am the Chief Product Officer and Chief Commercial Officer for TCC Group incorporating both Momenta and Recordsure and I\u2019m joined today by two colleagues, Gary Maude, who\u2019s a highly experienced regulatory consultant and practitioner and who heads up the TCC advisory function and Mike Morris, the Head of Operations at Momenta, who\u2019ve delivered countless remediation programmes and has been preparing for the DCA remediation and redress programme for more than 18 months.\n\nWe are going to be running some anonymous polls throughout this webinar. We\u2019re really keen to get your views and how you are feeling given the news in the last two weeks and I want to reassure you that there\u2019s no way for us to attribute any answers to you individually or to your firm and so these polls truly are anonymous.\n\nThe purpose of this webinar is to provide an overview of the Supreme Court ruling and the subsequent FCA commentary, but only as context. 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The FCA’s proposed motor finance redress scheme has sparked concern across the sector, with many fearing the bar for “unfairness” is set too low – potentially widening complaint scope and increasing liability. During our recent webinar: Driving change – FCA redress and the future of motor finance, we examined what the consultation could mean in practice. Our panellists: Garry Evans Chief Product Officer and Chief Commercial Officer at [TCC](https://tcc.group/advisory-services/motor-finance-compliance/) and [Recordsure](/sectors/) Gary Maude Director of Advisory Services at TCC and Mike Morris, Head of Operations at [Momenta](https://momentagroup.com/portfolio-items/motor-finance-discretionary-commission-arrangement-dca-claims/). Highlights from the session: - The good: Clarity on FCA expectations, timelines and possible scope. - The challenges: Managing CMC-driven complaints, resourcing large-scale remediation, and protecting brand reputation under scrutiny. - What to do now: Assess exposure, prepare for multiple scenarios, strengthen governance and customer engagement, and explore how technology, including AI, can scale your response. Five key considerations now stand out for firms preparing their response. #### Driving change: The Supreme Court ruling sparks industry debate Industry practitioners suggest that FCA’s approach could trigger a wave of claims management company-led complaints. Yet a narrower focus, such as limiting cases to discretionary commission arrangements (DCAs) or shortening the lookback period, might ease the burden while heightening the need for controlled, case-by-case handling. #### Breaking down the ruling: what the Johnson case means for redress The Supreme Court’s recent ruling on discretionary commission arrangements (DCAs) has sent shockwaves through the motor finance sector, with far-reaching implications for redress and complaint handling. Garry Evans Chief Product Officer and Chief Commercial Officer at TCC and Recordsure, and Gary Maude Director of Advisory Services at TCC, break down the facts from the FCA’s announcement of a forthcoming compensation scheme to the key findings of the Johnson case. They explained how the decision has narrowed in scope yet added complexity, and what this might mean for firms already managing a high volume of complaints. #### From legal definitions to operational realities: who feels the impact? Our experts unpacked the Supreme Court’s nuanced stance on commission arrangements – recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explored factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an “unfair relationship” under the Consumer Credit Act. The conversation also highlights the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA’s forthcoming consultation could shape redress scope and processes. #### The resourcing crunch: preparing for a remediation surge Resourcing is set to become one of the biggest challenges in delivering the upcoming motor finance remediation and redress programme. Mike Morris, Head of Operations at Momenta, shares how the Supreme Court ruling has shifted the balance from high volume automated redress towards more complex, bespoke complaint handling – and why this change could push demand for skilled case handlers far beyond current supply. From procurement pressures to the risk of all firms “fishing in the same pool” for resource, the conversation explores the operational realities firms must now factor into their planning. #### Plan for the worst, act early: winning the remediation race As the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can’t afford to sit still. Our panel outlined the recommended next steps for motor finance firms – from data mining and disclosure reviews to early procurement moves. We also explored the potential ripple effects across the wider consumer credit market and whether claims management companies (CMCs) could push the FCA’s hand to expand the scope. Recordsure, TCC and Momenta bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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"https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Preparing for the future: FCA redress and motor finance", "datePublished": "2025-08-18T14:39:24+01:00", "dateModified": "2026-10-09T04:50:18+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e444a00bd4884583808ab2eb512c05d6/thumbnail-1024-f844c112b17fd3b8eb58f5806a0f5319ea962065a480cf18573311ca3b8a3f5c.jpg", "description": "Five motor finance redress themes matter now: scope, the Johnson case, operational impact, resourcing pressure and early preparation.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s proposed motor finance redress scheme raises practical questions on unfairness, the Johnson case, operational impact, resourcing and acting early.\n\nThe FCA\u2019s proposed motor finance redress scheme has sparked concern across the sector, with many fearing the bar for \u201cunfairness\u201d is set too low \u2013 potentially widening complaint scope and increasing liability.\n\nDuring our recent webinar: Driving change \u2013 FCA redress and the future of motor finance, we examined what the consultation could mean in practice.\n\nOur panellists: Garry Evans Chief Product Officer and Chief Commercial Officer at TCC and Recordsure Gary Maude Director of Advisory Services at TCC and Mike Morris, Head of Operations at Momenta.\n\nHighlights from the session:\n\n\u2022 The good: Clarity on FCA expectations, timelines and possible scope.\n\u2022 The challenges: Managing CMC-driven complaints, 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Yet a narrower focus, such as limiting cases to discretionary commission arrangements (DCAs) or shortening the lookback period, might ease the burden while heightening the need for controlled, case-by-case handling.\n\nBreaking down the ruling: what the Johnson case means for redress\n\nThe Supreme Court\u2019s recent ruling on discretionary commission arrangements (DCAs) has sent shockwaves through the motor finance sector, with far-reaching implications for redress and complaint handling. Garry Evans Chief Product Officer and Chief Commercial Officer at TCC and Recordsure, and Gary Maude Director of Advisory Services at TCC, break down the facts from the FCA\u2019s announcement of a forthcoming compensation scheme to the key findings of the Johnson case. They explained how the decision has narrowed in scope yet added complexity, and what this might mean for firms already managing a high volume of complaints.\n\nFrom legal definitions to operational realities: who feels the impact?\n\nOur experts unpacked the Supreme Court\u2019s nuanced stance on commission arrangements \u2013 recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explored factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an \u201cunfair relationship\u201d under the Consumer Credit Act.\n\nThe conversation also highlights the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA\u2019s forthcoming consultation could shape redress scope and processes.\n\nThe resourcing crunch: preparing for a remediation surge\n\nResourcing is set to become one of the biggest challenges in delivering the upcoming motor finance remediation and redress programme. Mike Morris, Head of Operations at Momenta, shares how the Supreme Court ruling has shifted the balance from high volume automated redress towards more complex, bespoke complaint handling \u2013 and why this change could push demand for skilled case handlers far beyond current supply.\n\nFrom procurement pressures to the risk of all firms \u201cfishing in the same pool\u201d for resource, the conversation explores the operational realities firms must now factor into their planning.\n\nPlan for the worst, act early: winning the remediation race\n\nAs the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can\u2019t afford to sit still. Our panel outlined the recommended next steps for motor finance firms \u2013 from data mining and disclosure reviews to early procurement moves.\n\nWe also explored the potential ripple effects across the wider consumer credit market and whether claims management companies (CMCs) could push the FCA\u2019s hand to expand the scope.\n\nRecordsure, TCC and Momenta bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver.", "wordCount": 646, "keywords": [ "Insurance", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Motor finance webinar" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-6" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "text": "The FCA\u2019s proposed motor finance redress scheme has sparked concern across the sector, with many fearing the bar for \u201cunfairness\u201d is set too low \u2013 potentially widening complaint scope and increasing liability.\n\nDuring our recent webinar: Driving change \u2013 FCA redress and the future of motor finance, we examined what the consultation could mean in practice.\n\nOur panellists: Garry Evans Chief Product Officer and Chief Commercial Officer at TCC and Recordsure Gary Maude Director of Advisory Services at TCC and Mike Morris, Head of Operations at Momenta.\n\nHighlights from the session:\n\n\u2022 The good: Clarity on FCA expectations, timelines and possible scope.\n\u2022 The challenges: Managing CMC-driven complaints, resourcing large-scale remediation, and protecting brand reputation under scrutiny.\n\u2022 What to do now: Assess exposure, prepare for multiple scenarios, strengthen governance and customer engagement, and explore how technology, including AI, can scale your response.\n\nFive key considerations now stand out for firms preparing their response." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Driving change: The Supreme Court ruling sparks industry debate", "text": "Industry practitioners suggest that FCA\u2019s approach could trigger a wave of claims management company-led complaints. Yet a narrower focus, such as limiting cases to discretionary commission arrangements (DCAs) or shortening the lookback period, might ease the burden while heightening the need for controlled, case-by-case handling." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Breaking down the ruling: what the Johnson case means for redress", "text": "The Supreme Court\u2019s recent ruling on discretionary commission arrangements (DCAs) has sent shockwaves through the motor finance sector, with far-reaching implications for redress and complaint handling. Garry Evans Chief Product Officer and Chief Commercial Officer at TCC and Recordsure, and Gary Maude Director of Advisory Services at TCC, break down the facts from the FCA\u2019s announcement of a forthcoming compensation scheme to the key findings of the Johnson case. They explained how the decision has narrowed in scope yet added complexity, and what this might mean for firms already managing a high volume of complaints." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "headline": "From legal definitions to operational realities: who feels the impact?", "text": "Our experts unpacked the Supreme Court\u2019s nuanced stance on commission arrangements \u2013 recognising that while such payments may be legal, the fairness of each case depends on its specific circumstances. Using the Johnson case as a focal point, they explored factors such as commission size, disclosure practices and consumer characteristics that could tip the balance towards an \u201cunfair relationship\u201d under the Consumer Credit Act.\n\nThe conversation also highlights the operational realities this creates for creditors, brokers and claims management companies (CMCs) and how the FCA\u2019s forthcoming consultation could shape redress scope and processes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "headline": "The resourcing crunch: preparing for a remediation surge", "text": "Resourcing is set to become one of the biggest challenges in delivering the upcoming motor finance remediation and redress programme. Mike Morris, Head of Operations at Momenta, shares how the Supreme Court ruling has shifted the balance from high volume automated redress towards more complex, bespoke complaint handling \u2013 and why this change could push demand for skilled case handlers far beyond current supply.\n\nFrom procurement pressures to the risk of all firms \u201cfishing in the same pool\u201d for resource, the conversation explores the operational realities firms must now factor into their planning." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Plan for the worst, act early: winning the remediation race", "text": "As the motor finance sector waits for clarity from the FCA on the final scope of its redress scheme, firms can\u2019t afford to sit still. Our panel outlined the recommended next steps for motor finance firms \u2013 from data mining and disclosure reviews to early procurement moves.\n\nWe also explored the potential ripple effects across the wider consumer credit market and whether claims management companies (CMCs) could push the FCA\u2019s hand to expand the scope.\n\nRecordsure, TCC and Momenta bring a unique blend of regulatory expertise, technology and specialist resourcing to help you plan, scale, and deliver." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/preparing-for-the-future-fca-redress-and-motor-finance/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the webinar cover?", "acceptedAnswer": { "@type": "Answer", "text": "The webinar examined what the FCA\u2019s proposed motor finance redress scheme could mean in practice." } }, { "@type": "Question", "name": "Who were the panellists?", "acceptedAnswer": { "@type": "Answer", "text": "Panellists included Garry Evans of TCC and Recordsure, Gary Maude of TCC and Mike Morris of Momenta." } }, { "@type": "Question", "name": "What operational issue was highlighted?", "acceptedAnswer": { "@type": "Answer", "text": "Resourcing pressure may increase as skilled case-handler demand exceeds supply." } }, { "@type": "Question", "name": "What should firms do now?", "acceptedAnswer": { "@type": "Answer", "text": "They should assess exposure, prepare multiple scenarios, strengthen governance and customer engagement, and explore technology to scale the response." } } ] } ] } ``` ### Motor finance redress scheme – what do we know now? - URL: https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/ - Published: 2025-08-04 - Modified: 2026-10-09 **Topic:** Motor finance redress The FCA sees a formal motor finance compensation scheme as the quickest route to clarity and consistent claims handling. Firms should prepare customer data, processes, resourcing and workflow controls before the consultation is finalised. #### Key points - The FCA will consult on a compensation scheme after the Supreme Court ruling on motor finance commission arrangements. - The scheme is expected to cover discretionary commission arrangements and may consider some non-discretionary arrangements. - Potential unfairness factors include commission size, disclosure, customer characteristics, regulatory compliance and overall finance arrangements. - Firms should define affected customers, assess historic data quality, review policies and plan operational resource. - Boards need early exposure analysis, workflow control and auditability before redress payments begin. [On Sunday 3rd August 2025, the FCA confirmed it would consult on a compensation scheme which seeks to provide redress to consumers who were treated unfairly when taking out motor finance.](https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme) This announcement followed Friday’s landmark ruling by the Supreme Court on three cases where the Court of Appeal had previously concluded that commission payments to car dealers were unlawful. On Friday the Supreme Court overturned two of these cases, however, in one case, the Supreme Court ruled that, due to the particular circumstances of the case, the commission arrangements resulted in an unfair relationship between the consumer and the lender under s140A of the Consumer Credit Act (CCA) and, therefore, the commission was unlawful. It is clear that the FCA now believes that a formal compensation scheme is the best way to provide clarity and certainty to consumers, firms and investors as quickly as possible, and ensure the consistency of claims handling. To this end, the FCA have now committed to publishing a consultation paper by early October 2025 which will set out proposals for a compensation scheme (the scheme). Beyond this the FCA anticipates that the scheme will be finalised in time for complainants to start receiving compensation next year. #### What could the redress scheme cover? On Friday, the Supreme Court ruled that in many cases commission payments could be legal, but also that in certain circumstances lenders many have acted unfairly and, therefore, unlawfully. For example, in the case of Johnson, the size of the commission paid and the manner in which it was disclosed contributed to the conclusion that the commissions arrangements in this case were unfair. The FCA has stated that it will propose a scheme that covers discretionary commission arrangements (DCAs) – where the broker could adjust the interest rate offered to a customer. However, Friday’s Court ruling on the Johnson case has forced the FCA to also consider whether some non-discretionary commission arrangements should be included on the basis that the commission arrangements were unfair under the CCA. Regarding the latter, The Supreme Court stated that several factors could indicate we had identified an unfair relationship and contravene the CCA, whilst recognising it depends on the facts of each case. Such factors could include: - the size of the commission relative to the charge for credit - the nature of the commission, for example, whether it is discretionary - the characteristics of the consumer - compliance with regulatory rules - the extent and manner of disclosure The FCA will now need to consider the above when deciding the scope of the redress scheme. For example, the FCA have stated: *‘The Supreme Court found that a high and undisclosed commission – in this case (Johnson) 55% of the total cost of the credit – was ‘a powerful indication’ of an unfair relationship. The court also found that this was a breach of our rules, as disclosure of so high a commission would have had a ‘material impact’ on the customer’s decision.* *We will, therefore, need to consider what size of commission in the context of the overall finance arrangements may point towards unfairness if not disclosed’.* The FCA’s ‘criteria for unfairness’ are likely to come under some challenge from the motor finance industry, who will be keen to ensure that the ‘bar’ for unfairness is not set too low. The FCA has also stated that the scheme should cover motor finance agreements dating back to 2007, in order to be consistent with the complaints the Financial Ombudsman can consider and to ensure the scheme is comprehensive. This again is likely to be challenged through the consultation process on the grounds that firms and consumers may no longer hold records pertaining to older agreements. The FCA is still to decide whether the scheme should be implemented on an opt-in or opt-out basis, however, it has stated that it anticipates that firms will be required to (as far as possible) make customers aware they may be eligible to claim and how claims can be made. #### What should motor finance companies do next? Whilst motor finance firms will no doubt wish to consider the Supreme Court’s ruling in the Johnson case, in particular the specific factors on which the Supreme Court deemed the relationship to be unfair, it is now clear that a Redress scheme for DCA’s is imminent and there are some critical steps that firms should be taking now to prepare for this. - **Define the affected customer base** - Which customers had discretionary commission agreements? - What is the quality and completeness of the data relating to these customers, are there critical data points that need resolving? - For Non-DCA customers, are there certain agreements with ‘high’ commission levels - **Review policies & procedures** - Are processes & procedures designed, compliant and suitable for scale when responding to a redress scheme for DCA cases? - Determine the disclosure practices of motor dealers who distributed their finance products - Identify any exclusive distribution arrangements with motor dealers and determining whether these were consistent with the scope of service they set out to consumer - **Operational resource planning** - Are teams adequately resource to respond to the expected increase in demand? - A rise in volumes of affordability complaints & Data Subject Access Requests (DSAR) is already apparent across leading Motor Finance Firms - Customer service and general business-as-usual functions will also see a knock-on effect of the scheme, with SLA’s and regulatory requirements still at risk - With the expected complexities of dealing with the fairness of a relationship and a thorough investigation of the individual circumstance of a case, more experienced resources and qualified resources will be needed to resolve cases. - **Automation, workflow and reporting** - Consider how to use technology to enable scalable, accurate, and cost-effective remediation of large customer populations Design workflow processes and tooling that provide end-to-end control, transparency, and auditability to both internal stakeholders and the regulator. The FCA may not expect redress payments to be made this side of Christmas, but it’s important for boards to understand their exposure and to get prepared. Recordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds. #### Supporting sources - [FCA to consult on motor finance compensation scheme](https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Motor finance redress scheme \u2013 what do we know now?", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/", "name": "Motor finance redress scheme \u2013 what do we know now?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-08-04T16:29:32+01:00", "dateModified": "2025-08-06T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-08-06" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Motor finance redress scheme \u2013 what do we know now?", "datePublished": "2025-08-04T16:29:32+01:00", "dateModified": "2026-10-09T04:50:16+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8c26b04272e140ba82cb5ad38718abb8/thumbnail-1024-414fdd95f8a84ef780bbd1095ec5d53f7e71ea4a433db24de050b595ba45e3bf.jpg", "description": "The FCA plans to consult on a motor finance redress scheme after the Supreme Court ruling, leaving firms to assess data, disclosure and operational readiness.", "inLanguage": "en-GB", "articleBody": "The FCA sees a formal motor finance compensation scheme as the quickest route to clarity and consistent claims handling. Firms should prepare customer data, processes, resourcing and workflow controls before the consultation is finalised.\n\nOn Sunday 3rd August 2025, the FCA confirmed it would consult on a compensation scheme which seeks to provide redress to consumers who were treated unfairly when taking out motor finance.\n\nThis announcement followed Friday\u2019s landmark ruling by the Supreme Court on three cases where the Court of Appeal had previously concluded that commission payments to car dealers were unlawful.\n\nOn Friday the Supreme Court overturned two of these cases, however, in one case, the Supreme Court ruled that, due to the particular circumstances of the case, the commission arrangements resulted in an unfair relationship between the consumer and the lender under s140A of the Consumer Credit Act (CCA) and, therefore, the commission was unlawful.\n\nIt is clear that the FCA now believes that a formal compensation scheme is the best way to provide clarity and certainty to consumers, firms and investors as quickly as possible, and ensure the consistency of claims handling.\n\nTo this end, the FCA have now committed to publishing a consultation paper by early October 2025 which will set out proposals for a compensation scheme (the scheme). Beyond this the FCA anticipates that the scheme will be finalised in time for complainants to start receiving compensation next year.\n\nWhat could the redress scheme cover?\n\nOn Friday, the Supreme Court ruled that in many cases commission payments could be legal, but also that in certain circumstances lenders many have acted unfairly and, therefore, unlawfully. For example, in the case of Johnson, the size of the commission paid and the manner in which it was disclosed contributed to the conclusion that the commissions arrangements in this case were unfair.\n\nThe FCA has stated that it will propose a scheme that covers discretionary commission arrangements (DCAs) \u2013 where the broker could adjust the interest rate offered to a customer.\n\nHowever, Friday\u2019s Court ruling on the Johnson case has forced the FCA to also consider whether some non-discretionary commission arrangements should be included on the basis that the commission arrangements were unfair under the CCA.\n\nRegarding the latter, The Supreme Court stated that several factors could indicate we had identified an unfair relationship and contravene the CCA, whilst recognising it depends on the facts of each case. Such factors could include:\n\n\u2022 the size of the commission relative to the charge for credit\n\u2022 the nature of the commission, for example, whether it is discretionary\n\u2022 the characteristics of the consumer\n\u2022 compliance with regulatory rules\n\u2022 the extent and manner of disclosure\n\nThe FCA will now need to consider the above when deciding the scope of the redress scheme.\n\nFor example, the FCA have stated:\n\n\u2018The Supreme Court found that a high and undisclosed commission \u2013 in this case (Johnson) 55% of the total cost of the credit \u2013 was \u2018a powerful indication\u2019 of an unfair relationship. The court also found that this was a breach of our rules, as disclosure of so high a commission would have had a \u2018material impact\u2019 on the customer\u2019s decision.\n\nWe will, therefore, need to consider what size of commission in the context of the overall finance arrangements may point towards unfairness if not disclosed\u2019.\n\nThe FCA\u2019s \u2018criteria for unfairness\u2019 are likely to come under some challenge from the motor finance industry, who will be keen to ensure that the \u2018bar\u2019 for unfairness is not set too low.\n\nThe FCA has also stated that the scheme should cover motor finance agreements dating back to 2007, in order to be consistent with the complaints the Financial Ombudsman can consider and to ensure the scheme is comprehensive.\n\nThis again is likely to be challenged through the consultation process on the grounds that firms and consumers may no longer hold records pertaining to older agreements.\n\nThe FCA is still to decide whether the scheme should be implemented on an opt-in or opt-out basis, however, it has stated that it anticipates that firms will be required to (as far as possible) make customers aware they may be eligible to claim and how claims can be made.\n\nWhat should motor finance companies do next?\n\nWhilst motor finance firms will no doubt wish to consider the Supreme Court\u2019s ruling in the Johnson case, in particular the specific factors on which the Supreme Court deemed the relationship to be unfair, it is now clear that a Redress scheme for DCA\u2019s is imminent and there are some critical steps that firms should be taking now to prepare for this.\n\n\u2022 Define the affected customer base\n\u2022 Which customers had discretionary commission agreements?\n\u2022 What is the quality and completeness of the data relating to these customers, are there critical data points that need resolving?\n\u2022 For Non-DCA customers, are there certain agreements with \u2018high\u2019 commission levels\n\n\u2022 Review policies & procedures\n\u2022 Are processes & procedures designed, compliant and suitable for scale when responding to a redress scheme for DCA cases?\n\u2022 Determine the disclosure practices of motor dealers who distributed their finance products\n\u2022 Identify any exclusive distribution arrangements with motor dealers and determining whether these were consistent with the scope of service they set out to consumer\n\n\u2022 Operational resource planning\n\u2022 Are teams adequately resource to respond to the expected increase in demand?\n\u2022 A rise in volumes of affordability complaints & Data Subject Access Requests (DSAR) is already apparent across leading Motor Finance Firms\n\u2022 Customer service and general business-as-usual functions will also see a knock-on effect of the scheme, with SLA\u2019s and regulatory requirements still at risk\n\u2022 With the expected complexities of dealing with the fairness of a relationship and a thorough investigation of the individual circumstance of a case, more experienced resources and qualified resources will be needed to resolve cases.\n\n\u2022 Automation, workflow and reporting\n\u2022 Consider how to use technology to enable scalable, accurate, and cost-effective remediation of large customer populations\n\nDesign workflow processes and tooling that provide end-to-end control, transparency, and auditability to both internal stakeholders and the regulator.\n\nThe FCA may not expect redress payments to be made this side of Christmas, but it\u2019s important for boards to understand their exposure and to get prepared.\n\nRecordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds.", "wordCount": 1093, "keywords": [ "Insurance", "Lending and Credit", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Motor finance redress" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA to consult on motor finance compensation scheme", "url": "https://www.fca.org.uk/news/press-releases/fca-consult-motor-finance-compensation-scheme" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "inLanguage": "en-GB", "text": "On Sunday 3rd August 2025, the FCA confirmed it would consult on a compensation scheme which seeks to provide redress to consumers who were treated unfairly when taking out motor finance.\n\nThis announcement followed Friday\u2019s landmark ruling by the Supreme Court on three cases where the Court of Appeal had previously concluded that commission payments to car dealers were unlawful.\n\nOn Friday the Supreme Court overturned two of these cases, however, in one case, the Supreme Court ruled that, due to the particular circumstances of the case, the commission arrangements resulted in an unfair relationship between the consumer and the lender under s140A of the Consumer Credit Act (CCA) and, therefore, the commission was unlawful.\n\nIt is clear that the FCA now believes that a formal compensation scheme is the best way to provide clarity and certainty to consumers, firms and investors as quickly as possible, and ensure the consistency of claims handling.\n\nTo this end, the FCA have now committed to publishing a consultation paper by early October 2025 which will set out proposals for a compensation scheme (the scheme). Beyond this the FCA anticipates that the scheme will be finalised in time for complainants to start receiving compensation next year." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "inLanguage": "en-GB", "headline": "What could the redress scheme cover?", "text": "On Friday, the Supreme Court ruled that in many cases commission payments could be legal, but also that in certain circumstances lenders many have acted unfairly and, therefore, unlawfully. For example, in the case of Johnson, the size of the commission paid and the manner in which it was disclosed contributed to the conclusion that the commissions arrangements in this case were unfair.\n\nThe FCA has stated that it will propose a scheme that covers discretionary commission arrangements (DCAs) \u2013 where the broker could adjust the interest rate offered to a customer.\n\nHowever, Friday\u2019s Court ruling on the Johnson case has forced the FCA to also consider whether some non-discretionary commission arrangements should be included on the basis that the commission arrangements were unfair under the CCA.\n\nRegarding the latter, The Supreme Court stated that several factors could indicate we had identified an unfair relationship and contravene the CCA, whilst recognising it depends on the facts of each case. Such factors could include:\n\n\u2022 the size of the commission relative to the charge for credit\n\u2022 the nature of the commission, for example, whether it is discretionary\n\u2022 the characteristics of the consumer\n\u2022 compliance with regulatory rules\n\u2022 the extent and manner of disclosure\n\nThe FCA will now need to consider the above when deciding the scope of the redress scheme.\n\nFor example, the FCA have stated:\n\n\u2018The Supreme Court found that a high and undisclosed commission \u2013 in this case (Johnson) 55% of the total cost of the credit \u2013 was \u2018a powerful indication\u2019 of an unfair relationship. The court also found that this was a breach of our rules, as disclosure of so high a commission would have had a \u2018material impact\u2019 on the customer\u2019s decision.\n\nWe will, therefore, need to consider what size of commission in the context of the overall finance arrangements may point towards unfairness if not disclosed\u2019.\n\nThe FCA\u2019s \u2018criteria for unfairness\u2019 are likely to come under some challenge from the motor finance industry, who will be keen to ensure that the \u2018bar\u2019 for unfairness is not set too low.\n\nThe FCA has also stated that the scheme should cover motor finance agreements dating back to 2007, in order to be consistent with the complaints the Financial Ombudsman can consider and to ensure the scheme is comprehensive.\n\nThis again is likely to be challenged through the consultation process on the grounds that firms and consumers may no longer hold records pertaining to older agreements.\n\nThe FCA is still to decide whether the scheme should be implemented on an opt-in or opt-out basis, however, it has stated that it anticipates that firms will be required to (as far as possible) make customers aware they may be eligible to claim and how claims can be made." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "inLanguage": "en-GB", "headline": "What should motor finance companies do next?", "text": "Whilst motor finance firms will no doubt wish to consider the Supreme Court\u2019s ruling in the Johnson case, in particular the specific factors on which the Supreme Court deemed the relationship to be unfair, it is now clear that a Redress scheme for DCA\u2019s is imminent and there are some critical steps that firms should be taking now to prepare for this.\n\n\u2022 Define the affected customer base\n\u2022 Which customers had discretionary commission agreements?\n\u2022 What is the quality and completeness of the data relating to these customers, are there critical data points that need resolving?\n\u2022 For Non-DCA customers, are there certain agreements with \u2018high\u2019 commission levels\n\n\u2022 Review policies & procedures\n\u2022 Are processes & procedures designed, compliant and suitable for scale when responding to a redress scheme for DCA cases?\n\u2022 Determine the disclosure practices of motor dealers who distributed their finance products\n\u2022 Identify any exclusive distribution arrangements with motor dealers and determining whether these were consistent with the scope of service they set out to consumer\n\n\u2022 Operational resource planning\n\u2022 Are teams adequately resource to respond to the expected increase in demand?\n\u2022 A rise in volumes of affordability complaints & Data Subject Access Requests (DSAR) is already apparent across leading Motor Finance Firms\n\u2022 Customer service and general business-as-usual functions will also see a knock-on effect of the scheme, with SLA\u2019s and regulatory requirements still at risk\n\u2022 With the expected complexities of dealing with the fairness of a relationship and a thorough investigation of the individual circumstance of a case, more experienced resources and qualified resources will be needed to resolve cases.\n\n\u2022 Automation, workflow and reporting\n\u2022 Consider how to use technology to enable scalable, accurate, and cost-effective remediation of large customer populations\n\nDesign workflow processes and tooling that provide end-to-end control, transparency, and auditability to both internal stakeholders and the regulator.\n\nThe FCA may not expect redress payments to be made this side of Christmas, but it\u2019s important for boards to understand their exposure and to get prepared.\n\nRecordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress-scheme-what-do-we-know-now/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What prompted the FCA\u2019s proposed redress scheme?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA responded after the Supreme Court ruled on three motor finance commission cases and found one unfair relationship under the Consumer Credit Act." } }, { "@type": "Question", "name": "What arrangements could the scheme cover?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has said it will propose cover for discretionary commission arrangements and must consider whether some non-discretionary arrangements were unfair." } }, { "@type": "Question", "name": "How far back could the scheme go?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has stated that the scheme should cover motor finance agreements dating back to 2007." } }, { "@type": "Question", "name": "What should firms do now?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should identify affected customers, review data quality and disclosure practices, plan resources and design controlled workflow and reporting." } } ] } ] } ``` ### How to use artificial intelligence to navigate motor finance commission complaints - URL: https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/ - Published: 2025-07-23 - Modified: 2026-10-09 **Topic:** Commission complaints FCA activity on motor finance commission arrangements is creating operational pressure and regulatory uncertainty. Recordsure describes how data, transcription, triage and QA can support complaint response. #### Key points - Firms need a clear, data-backed strategy for motor finance commission complaints and possible redress. - Historic sales and commission evidence may sit across fragmented systems, call recordings and paper files. - Transcription and speech analytics can search interactions for disclosures and flag risk signals. - Automated triage can prioritise urgent or high-exposure cases and focus manual review. - Quality assurance across cases supports transparency, defensibility and preparedness. [With the FCA’s review into motor finance commission arrangements now well underway, firms are entering a period of significant operational pressure and regulatory uncertainty.](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme) The potential for [large-scale consumer complaints and financial redress](https://www.fca.org.uk/news/statements/firms-given-until-december-2025-respond-motor-finance-commission-complaints) means firms must act fast — not just to understand their exposure but to build a clear, data-backed strategy for the long-term. At Recordsure, we believe the answer lies in pairing deep regulatory understanding with the right technology, to give compliance and QA teams the clarity, speed and confidence to respond effectively. Drawing on insights from our Preparatory guide: Motor finance commission complaints, remediation and redress, here’s how Recordsure’s and its AI-led solutions are helping firms use data for compelling customer insights. #### Unstructured data, hidden risk As the guide highlights, many firms face a fundamental data challenge: historic sales and commission models are often documented across fragmented systems, unstructured call recordings, and paper-based files. This legacy data creates barriers to understanding how commissions were explained and whether disclosures were sufficiently clear. Yet under the FCA’s evolving expectations, this detail matters. Firms must show that customers were treated fairly, commissions were disclosed appropriately, and financial incentives did not unduly influence sales practices. #### AI for smarter review Recordsure’s suite of technologies is already helping firms overcome this challenge, and here’s how: **– Transcription and speech analytics:** Our AI-powered solution can transcribe and analyse historic customer interactions – across phone, face-to-face, and virtual channels. This enables firms to quickly: a) Search thousands of records for specific commission disclosures b) Flag risk signals like misleading language or missing explanations c) Surface cases likely to require manual review – Automated case triage: Using intelligent AI, Recordsure helps firms categorise cases by risk level, prioritising urgent or high-exposure cases. This dramatically reduces time spent combing through low-risk files, freeing up resource for the complaints that matter most. – AI-led quality assurance: Our AI can review 100% of cases against customisable QA frameworks, helping firms spot gaps in disclosure and inconsistencies across agents or teams. This ensures a defensible, auditable approach to both retrospective review and future complaint handling. #### Outcomes that matter The key to effective complaint management lies in transparency, defensibility and preparedness. Technology can’t replace sound regulatory judgement, but it can supercharge your ability to act quickly, consistently and with full visibility into past behaviours. #### Turn complexity into confidence Recordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds. #### Supporting sources - [FCA key considerations for a possible motor finance consumer redress scheme](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme) - [Firms given until December 2025 to respond to motor finance commission complaints](https://www.fca.org.uk/news/statements/firms-given-until-december-2025-respond-motor-finance-commission-complaints) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How to use artificial intelligence to navigate motor finance commission complaints", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/", "name": "How to use artificial intelligence to navigate motor finance commission complaints", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-07-23T10:51:00+01:00", "dateModified": "2025-07-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-07-23" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How to use artificial intelligence to navigate motor finance commission complaints", "datePublished": "2025-07-23T10:51:00+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a3fe2149b6b44cff96642fb7a59df102/thumbnail-1024-d66ce776a2ae26d90551a03b221ff9e33a54e81f21bc30a59300f818ff3dbd4e.png", "description": "Motor finance firms facing commission complaints can combine regulatory expertise with structured data review to understand exposure and prioritise cases.", "inLanguage": "en-GB", "articleBody": "FCA activity on motor finance commission arrangements is creating operational pressure and regulatory uncertainty. Recordsure describes how data, transcription, triage and QA can support complaint response.\n\nWith the FCA\u2019s review into motor finance commission arrangements now well underway, firms are entering a period of significant operational pressure and regulatory uncertainty.\n\nThe potential for large-scale consumer complaints and financial redress means firms must act fast \u2014 not just to understand their exposure but to build a clear, data-backed strategy for the long-term.\n\nAt Recordsure, we believe the answer lies in pairing deep regulatory understanding with the right technology, to give compliance and QA teams the clarity, speed and confidence to respond effectively.\n\nDrawing on insights from our Preparatory guide: Motor finance commission complaints, remediation and redress, here\u2019s how Recordsure\u2019s and its AI-led solutions are helping firms use data for compelling customer insights.\n\nUnstructured data, hidden risk\n\nAs the guide highlights, many firms face a fundamental data challenge: historic sales and commission models are often documented across fragmented systems, unstructured call recordings, and paper-based files. This legacy data creates barriers to understanding how commissions were explained and whether disclosures were sufficiently clear.\n\nYet under the FCA\u2019s evolving expectations, this detail matters. Firms must show that customers were treated fairly, commissions were disclosed appropriately, and financial incentives did not unduly influence sales practices.\n\nAI for smarter review\n\nRecordsure\u2019s suite of technologies is already helping firms overcome this challenge, and here\u2019s how:\n\n\u2013 Transcription and speech analytics: Our AI-powered solution can transcribe and analyse historic customer interactions \u2013 across phone, face-to-face, and virtual channels. This enables firms to quickly:\n\na) Search thousands of records for specific commission disclosures\n\nb) Flag risk signals like misleading language or missing explanations\n\nc) Surface cases likely to require manual review\n\n\u2013 Automated case triage: Using intelligent AI, Recordsure helps firms categorise cases by risk level, prioritising urgent or high-exposure cases. This dramatically reduces time spent combing through low-risk files, freeing up resource for the complaints that matter most.\n\n\u2013 AI-led quality assurance: Our AI can review 100% of cases against customisable QA frameworks, helping firms spot gaps in disclosure and inconsistencies across agents or teams. This ensures a defensible, auditable approach to both retrospective review and future complaint handling.\n\nOutcomes that matter\n\nThe key to effective complaint management lies in transparency, defensibility and preparedness. Technology can\u2019t replace sound regulatory judgement, but it can supercharge your ability to act quickly, consistently and with full visibility into past behaviours.\n\nTurn complexity into confidence\n\nRecordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds.", "wordCount": 457, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Commission complaints" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA key considerations for a possible motor finance consumer redress scheme", "url": "https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme" }, { "@type": "CreativeWork", "name": "Firms given until December 2025 to respond to motor finance commission complaints", "url": "https://www.fca.org.uk/news/statements/firms-given-until-december-2025-respond-motor-finance-commission-complaints" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "text": "With the FCA\u2019s review into motor finance commission arrangements now well underway, firms are entering a period of significant operational pressure and regulatory uncertainty.\n\nThe potential for large-scale consumer complaints and financial redress means firms must act fast \u2014 not just to understand their exposure but to build a clear, data-backed strategy for the long-term.\n\nAt Recordsure, we believe the answer lies in pairing deep regulatory understanding with the right technology, to give compliance and QA teams the clarity, speed and confidence to respond effectively.\n\nDrawing on insights from our Preparatory guide: Motor finance commission complaints, remediation and redress, here\u2019s how Recordsure\u2019s and its AI-led solutions are helping firms use data for compelling customer insights." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "headline": "Unstructured data, hidden risk", "text": "As the guide highlights, many firms face a fundamental data challenge: historic sales and commission models are often documented across fragmented systems, unstructured call recordings, and paper-based files. This legacy data creates barriers to understanding how commissions were explained and whether disclosures were sufficiently clear.\n\nYet under the FCA\u2019s evolving expectations, this detail matters. Firms must show that customers were treated fairly, commissions were disclosed appropriately, and financial incentives did not unduly influence sales practices." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "headline": "AI for smarter review", "text": "Recordsure\u2019s suite of technologies is already helping firms overcome this challenge, and here\u2019s how:\n\n\u2013 Transcription and speech analytics: Our AI-powered solution can transcribe and analyse historic customer interactions \u2013 across phone, face-to-face, and virtual channels. This enables firms to quickly:\n\na) Search thousands of records for specific commission disclosures\n\nb) Flag risk signals like misleading language or missing explanations\n\nc) Surface cases likely to require manual review\n\n\u2013 Automated case triage: Using intelligent AI, Recordsure helps firms categorise cases by risk level, prioritising urgent or high-exposure cases. This dramatically reduces time spent combing through low-risk files, freeing up resource for the complaints that matter most.\n\n\u2013 AI-led quality assurance: Our AI can review 100% of cases against customisable QA frameworks, helping firms spot gaps in disclosure and inconsistencies across agents or teams. This ensures a defensible, auditable approach to both retrospective review and future complaint handling." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "headline": "Outcomes that matter", "text": "The key to effective complaint management lies in transparency, defensibility and preparedness. Technology can\u2019t replace sound regulatory judgement, but it can supercharge your ability to act quickly, consistently and with full visibility into past behaviours." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "headline": "Turn complexity into confidence", "text": "Recordsure is helping financial services firms harness their data to stay compliant, build trust and move forward with clarity. In the context of motor finance commission complaints, that means giving you the insight and tools to respond decisively, no matter what the future holds." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-tech/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What data challenge do firms face?", "acceptedAnswer": { "@type": "Answer", "text": "Historic sales and commission models may be documented across fragmented systems, unstructured call recordings and paper-based files." } }, { "@type": "Question", "name": "What can transcription and speech analytics do?", "acceptedAnswer": { "@type": "Answer", "text": "They can transcribe and analyse historic customer interactions across phone, face-to-face and virtual channels." } }, { "@type": "Question", "name": "How does automated triage help?", "acceptedAnswer": { "@type": "Answer", "text": "It categorises cases by risk level so urgent or high-exposure complaints can be prioritised." } }, { "@type": "Question", "name": "Can technology replace regulatory judgement?", "acceptedAnswer": { "@type": "Answer", "text": "No. Technology cannot replace sound regulatory judgement, but it can help firms act quickly, consistently and with visibility." } } ] } ] } ``` ### Revolutionising ongoing servicing at scale with TCC and Recordsure - URL: https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/ - Published: 2025-07-08 - Modified: 2026-10-09 **Topic:** Ongoing servicing Australian remediation experience informs the UK ongoing servicing challenge. TCC and Recordsure can analyse advice servicing history, create client timelines and provide dashboard evidence. #### Key points - A large remediation initiative in Australia achieved an 85% efficiency saving and finished in under 12 months. - Australia’s no-service fee challenge mirrors the UK ongoing servicing challenge. - Integration with intelliflo enables analysis of servicing history back to 2018. - Recordsure technology creates client-case activity timelines and TCC validates and interprets findings. - Dashboards can show servicing activity, analytics and insights to improve ongoing advice obligations. When it comes to ongoing advice servicing, TCC and Recordsure have truly been there, done that - and yes, even bought the t-shirt. Our experience in this space isn’t just theoretical; it’s proven and battle-tested on complex and high-stakes projects. Take for example, the [large-scale remediation initiative we supported in Australia](/case-studies/document-intelligence-consultancy-managed-services-uk/). This was part of the Royal Commission, delivered through our partner KPMG. The project was monumental in scope and ambition. It demanded not only deep expertise but also a level of consistency and quality assurance that simply couldn’t be achieved manually. [TCC](https://tcc.group/) and Recordsure’s [Chief Product and Commercial Officer, Garry Evans](/meet-the-team/), recently explored how this project was transformational, whilst speaking live on-stage at [intelliflo’s innovate 2025](https://www.intelliflo.com/insights/events/intellifloinnovate2025/). #### Proven results at scale During this project, Recordsure’s AI-powered solution came into its own. Using our intelligent automation, we could drive an incredible 85% efficiency saving. What was initially forecast as a six-year effort was completed in under 12 months, and at less than half the expected cost. Why does this matter in the UK today? Because the “no-service” fee challenge faced in Australia mirrors the ongoing servicing challenge we’re now tackling here. And we’re more than ready to meet it head-on. #### From data to actionable insight Thanks to our integration with [intelliflo](https://www.intelliflo.com/), TCC and Recordsure can assess your ongoing advice servicing history directly and can analyse data back to 2018 in line with the [latest guidance outlined by the FCA](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services). Our AI combs through documents, creating a comprehensive timeline of activity for each client case. Then, the expert team at our compliance partner TCC, validate and interpret the findings, ensuring a precise understanding of what occurred during each service review period. Plus, we can go even further – by evaluating the actual content of your ongoing advice communications to determine the quality and compliance of servicing provided. The outcome? You’ll receive a clear, insightful dashboard that offers not just visibility into your servicing activity but also detailed analytics and insights to help you understand and improve your ongoing advice service obligations. #### Supporting sources - [FCA ongoing financial advice services multi-firm review](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Revolutionising ongoing servicing at scale with TCC and Recordsure", "item": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/", "name": "Revolutionising ongoing servicing at scale with TCC and Recordsure", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-07-08T10:10:29+01:00", "dateModified": "2025-07-08T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-07-08" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Revolutionising ongoing servicing at scale with TCC and Recordsure", "datePublished": "2025-07-08T10:10:29+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e311783c1b7a4203806454357c6da086/thumbnail-1024-034c8696790cfbaa33f47acb3e8e9fae609bbc28de393f6c0d64b422f4e6a385.png", "description": "TCC and Recordsure describe how document intelligence, TCC expertise and intelliflo data can support ongoing advice servicing reviews at scale.", "inLanguage": "en-GB", "articleBody": "Australian remediation experience informs the UK ongoing servicing challenge. TCC and Recordsure can analyse advice servicing history, create client timelines and provide dashboard evidence.\n\nWhen it comes to ongoing advice servicing, TCC and Recordsure have truly been there, done that - and yes, even bought the t-shirt.\n\nOur experience in this space isn\u2019t just theoretical; it\u2019s proven and battle-tested on complex and high-stakes projects.\n\nTake for example, the large-scale remediation initiative we supported in Australia. This was part of the Royal Commission, delivered through our partner KPMG. The project was monumental in scope and ambition. It demanded not only deep expertise but also a level of consistency and quality assurance that simply couldn\u2019t be achieved manually.\n\nTCC and Recordsure\u2019s Chief Product and Commercial Officer, Garry Evans, recently explored how this project was transformational, whilst speaking live on-stage at intelliflo\u2019s innovate 2025.\n\nProven results at scale\n\nDuring this project, Recordsure\u2019s AI-powered solution came into its own. Using our intelligent automation, we could drive an incredible 85% efficiency saving. What was initially forecast as a six-year effort was completed in under 12 months, and at less than half the expected cost.\n\nWhy does this matter in the UK today? Because the \u201cno-service\u201d fee challenge faced in Australia mirrors the ongoing servicing challenge we\u2019re now tackling here. And we\u2019re more than ready to meet it head-on.\n\nFrom data to actionable insight\n\nThanks to our integration with intelliflo, TCC and Recordsure can assess your ongoing advice servicing history directly and can analyse data back to 2018 in line with the latest guidance outlined by the FCA. Our AI combs through documents, creating a comprehensive timeline of activity for each client case. Then, the expert team at our compliance partner TCC, validate and interpret the findings, ensuring a precise understanding of what occurred during each service review period.\n\nPlus, we can go even further \u2013 by evaluating the actual content of your ongoing advice communications to determine the quality and compliance of servicing provided.\n\nThe outcome? You\u2019ll receive a clear, insightful dashboard that offers not just visibility into your servicing activity but also detailed analytics and insights to help you understand and improve your ongoing advice service obligations.", "wordCount": 363, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing servicing" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA ongoing financial advice services multi-firm review", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage" }, "inLanguage": "en-GB", "text": "When it comes to ongoing advice servicing, TCC and Recordsure have truly been there, done that - and yes, even bought the t-shirt.\n\nOur experience in this space isn\u2019t just theoretical; it\u2019s proven and battle-tested on complex and high-stakes projects.\n\nTake for example, the large-scale remediation initiative we supported in Australia. 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What was initially forecast as a six-year effort was completed in under 12 months, and at less than half the expected cost.\n\nWhy does this matter in the UK today? Because the \u201cno-service\u201d fee challenge faced in Australia mirrors the ongoing servicing challenge we\u2019re now tackling here. And we\u2019re more than ready to meet it head-on." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage" }, "inLanguage": "en-GB", "headline": "From data to actionable insight", "text": "Thanks to our integration with intelliflo, TCC and Recordsure can assess your ongoing advice servicing history directly and can analyse data back to 2018 in line with the latest guidance outlined by the FCA. Our AI combs through documents, creating a comprehensive timeline of activity for each client case. Then, the expert team at our compliance partner TCC, validate and interpret the findings, ensuring a precise understanding of what occurred during each service review period.\n\nPlus, we can go even further \u2013 by evaluating the actual content of your ongoing advice communications to determine the quality and compliance of servicing provided.\n\nThe outcome? You\u2019ll receive a clear, insightful dashboard that offers not just visibility into your servicing activity but also detailed analytics and insights to help you understand and improve your ongoing advice service obligations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ongoing-servicing-at-scale/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What prior project provides the comparison point?", "acceptedAnswer": { "@type": "Answer", "text": "A large-scale remediation initiative in Australia, delivered through partner KPMG as part of the Royal Commission, provides the comparison point." } }, { "@type": "Question", "name": "What outcomes are stated for that project?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s solution drove an 85% efficiency saving, completed a forecast six-year effort in under 12 months and cost less than half the expected amount." } }, { "@type": "Question", "name": "How far back can servicing history be analysed?", "acceptedAnswer": { "@type": "Answer", "text": "TCC and Recordsure can analyse data back to 2018 in line with FCA guidance." } }, { "@type": "Question", "name": "What does the dashboard provide?", "acceptedAnswer": { "@type": "Answer", "text": "The dashboard gives visibility into servicing activity, with analytics and insights to help firms understand and improve ongoing advice service obligations." } } ] } ] } ``` ### Why our move to Microsoft Azure speeds up Recordsure technology innovation - URL: https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/ - Published: 2025-07-04 - Modified: 2026-10-09 **Topic:** Azure innovation Microsoft Azure supports faster innovation, security, scalability, deployment flexibility and user experience improvements for Recordsure technology. #### Key points - Microsoft Azure supports AI-powered RegTech solutions for regulated firms. - The move helps financial services firms approach compliance, risk and ongoing advice. - TCC polling found varied evidence levels for ongoing advice reviews. - Azure supports faster innovation, security, scalability, customisation and user experience benefits. - Azure helps release product features and AI model enhancements more quickly. Recordsure is proud to highlight the transformative impact of using Microsoft Azure Recordsure, a provider of unique AI-powered RegTech solutions to help regulated firms drive compliance, is proud to highlight the transformative impact of using Microsoft Azure. This strategic move helps redefine how financial services firms approach compliance, risk, and ongoing advice. By using Azure’s scalable and secure cloud platform, Recordsure delivers unparalleled agility and innovation, accelerating the development of intelligent tools that help clients meet rising regulatory expectations with confidence. > Microsoft helps us to understand what emerging best practice looks like – and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure #### Recordsure is proud to highlight the transformative impact of joining Microsoft Azure Marketplace The regulator has made it clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews. TCC polled wealth managers on this topic: 38% declared they have all the evidence to distinguish which clients received their review 58% attested to having just some of the evidence 4% reported having none at all The all-important question is what firms should be doing now to ensure that they have the evidence in place that the FCA will now expect to see. TCC’s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan. #### Our client benefits **Faster innovation**: New product features and AI model enhancements are released quicker than ever before, keeping clients ahead of compliance demands. **Enhanced security and scalability**: Built on Azure, Recordsure ensures enterprise-grade security, compliance, and performance critical for handling sensitive data. **Greater customisation**: Azure’s powerful infrastructure enables tailored deployments to meet individual client needs across advice, supervision, and quality assurance. **Improved user experience**: Streamlined, intuitive tools help frontline teams and oversight functions work more efficiently and effectively. Microsoft helps us to understand what emerging best practice looks like – and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why our move to Microsoft Azure speeds up Recordsure technology innovation", "item": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/", "name": "Why our move to Microsoft Azure speeds up Recordsure technology innovation", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-07-04T16:07:55+01:00", "dateModified": "2025-08-14T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-08-14" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why our move to Microsoft Azure speeds up Recordsure technology innovation", "datePublished": "2025-07-04T16:07:55+01:00", "dateModified": "2026-10-09T04:50:24+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c694f1af332c4fff80145a1759e1a687/thumbnail-1024-c4b72608a6365e18fb0d3d3f33419b9db72ceef38623a63625097ef0b98fb3a5.png", "description": "Our move to Microsoft Azure supports faster product development, security, scalability, customisation and improved user experience for regulated firms.", "inLanguage": "en-GB", "articleBody": "Microsoft Azure supports faster innovation, security, scalability, deployment flexibility and user experience improvements for Recordsure technology.\n\nRecordsure is proud to highlight the transformative impact of using Microsoft Azure\n\nRecordsure, a provider of unique AI-powered RegTech solutions to help regulated firms drive compliance, is proud to highlight the transformative impact of using Microsoft Azure. This strategic move helps redefine how financial services firms approach compliance, risk, and ongoing advice.\n\nBy using Azure\u2019s scalable and secure cloud platform, Recordsure delivers unparalleled agility and innovation, accelerating the development of intelligent tools that help clients meet rising regulatory expectations with confidence.\n\nMicrosoft helps us to understand what emerging best practice looks like \u2013 and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure\n\nRecordsure is proud to highlight the transformative impact of joining Microsoft Azure Marketplace\n\nThe regulator has made it clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews.\n\nTCC polled wealth managers on this topic:\n\n38% declared they have all the evidence to distinguish which clients received their review\n\n58% attested to having just some of the evidence\n\n4% reported having none at all\n\nThe all-important question is what firms should be doing now to ensure that they have the evidence in place that the FCA will now expect to see. TCC\u2019s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan.\n\nOur client benefits\n\nFaster innovation: New product features and AI model enhancements are released quicker than ever before, keeping clients ahead of compliance demands.\n\nEnhanced security and scalability: Built on Azure, Recordsure ensures enterprise-grade security, compliance, and performance critical for handling sensitive data.\n\nGreater customisation: Azure\u2019s powerful infrastructure enables tailored deployments to meet individual client needs across advice, supervision, and quality assurance.\n\nImproved user experience: Streamlined, intuitive tools help frontline teams and oversight functions work more efficiently and effectively.\n\nMicrosoft helps us to understand what emerging best practice looks like \u2013 and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure", "wordCount": 350, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Azure innovation" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure is proud to highlight the transformative impact of using Microsoft Azure\n\nRecordsure, a provider of unique AI-powered RegTech solutions to help regulated firms drive compliance, is proud to highlight the transformative impact of using Microsoft Azure. This strategic move helps redefine how financial services firms approach compliance, risk, and ongoing advice.\n\nBy using Azure\u2019s scalable and secure cloud platform, Recordsure delivers unparalleled agility and innovation, accelerating the development of intelligent tools that help clients meet rising regulatory expectations with confidence.\n\nMicrosoft helps us to understand what emerging best practice looks like \u2013 and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure is proud to highlight the transformative impact of joining Microsoft Azure Marketplace", "text": "The regulator has made it clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews.\n\nTCC polled wealth managers on this topic:\n\n38% declared they have all the evidence to distinguish which clients received their review\n\n58% attested to having just some of the evidence\n\n4% reported having none at all\n\nThe all-important question is what firms should be doing now to ensure that they have the evidence in place that the FCA will now expect to see. TCC\u2019s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "Our client benefits", "text": "Faster innovation: New product features and AI model enhancements are released quicker than ever before, keeping clients ahead of compliance demands.\n\nEnhanced security and scalability: Built on Azure, Recordsure ensures enterprise-grade security, compliance, and performance critical for handling sensitive data.\n\nGreater customisation: Azure\u2019s powerful infrastructure enables tailored deployments to meet individual client needs across advice, supervision, and quality assurance.\n\nImproved user experience: Streamlined, intuitive tools help frontline teams and oversight functions work more efficiently and effectively.\n\nMicrosoft helps us to understand what emerging best practice looks like \u2013 and puts the tools in our hands to innovate. Joe Norburn, CEO, Recordsure" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-our-move-to-microsoft-azure-speeds-up-recordsure-innovation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does Microsoft Azure matter for Recordsure technology?", "acceptedAnswer": { "@type": "Answer", "text": "Azure\u2019s scalable and secure cloud platform supports agility, innovation and intelligent tools for regulatory expectations." } }, { "@type": "Question", "name": "What benefits are listed for clients?", "acceptedAnswer": { "@type": "Answer", "text": "Client benefits include faster innovation, enhanced security and scalability, greater customisation and improved user experience." } }, { "@type": "Question", "name": "What polling figures are included?", "acceptedAnswer": { "@type": "Answer", "text": "TCC polling found that 38% had all the evidence, 58% had some evidence and 4% had none at all to distinguish which clients received their review." } } ] } ] } ``` ### Why AI holds the key to future-proofing ongoing advice compliance - URL: https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/ - Published: 2025-06-13 - Modified: 2026-10-09 **Topic:** Ongoing advice AI AI can help advice firms evidence ongoing advice services, identify gaps and move from reactive processes to proactive intelligence as FCA expectations rise. #### Key points - Garry Evans said firms embracing AI can evidence ongoing advice and meet evolving client needs. - Jason Wintie explained that FCA concerns about ongoing advice are not new. - Claire Bell from Attivo described approaching these challenges with Recordsure. - Predictive AI can flag incomplete reviews, compliance gaps and outdated client data. At intelliflo’s innovate 2025, a number of presenters took to the stage, including Recordsure’s Chief Product and Commercial Officer, Garry Evans. Garry shared the message that firms who embrace AI today won’t just keep up with regulatory demands – they’ll set the standard for tomorrow’s best practice. That means being able to demonstrate their ongoing advice services with evidence and ensuring alignment with each client’s evolving needs. Jason Wintie, Strategic Regulatory Director at our compliance partner [TCC Group](https://tcc.group/), also took to the stage to contextualise the regulator’s concerns about how ongoing advice is delivered across the industry. Jason opened the session by [explaining that the FCA’s concerns around ongoing advice aren’t new](https://tcc.group/blog/2025/06/12/ongoing-advice-approach/). For years, the regulator has warned against clients paying for services they might not actually receive. But in early 2024, things escalated. #### Deliver ongoing advice compliantly This culminated in the FCA’s recent actions, including data requests and suitability assessments across major advice firms, which have brought this issue to the forefront. For many, it has exposed weaknesses in their ability to track, document and quality-assure ongoing services. However, amid the pressure lies a significant opportunity – one that’s being unlocked by AI. After Jason’s regulatory walkthrough, Claire Bell from [Attivo](https://attivo.co.uk/) took to the stage to spotlight just that. Claire shared how her organisation has approached these challenges internally with the power of Recordsure. Her message was that change is possible, but it requires focus, leadership and a genuine willingness to evolve. #### Unlock the power of AI At Recordsure, we believe that the future of ongoing advice lies in predictive AI. Rather than relying on manual reviews or diary reminders, firms can harness intelligent automation to flag incomplete reviews, identify potential compliance gaps and highlight areas where client data needs updating before it becomes a regulatory issue. #### Satisfy the regulator This goes beyond efficiency. It’s about transforming how firms manage risk, advise clients and satisfy the regulator all at once. Recordsure technology complements human judgment by surfacing the right insights at the right time, enabling advisers to make faster, more confident decisions. From improving governance reporting to identifying gaps in service delivery, the benefits of AI-driven advice oversight are already being realised by forward-thinking firms. #### Futureproof your advice services The FCA’s expectations are rising, but so too are the tools available to meet them. Now is the time to evolve from reactive processes to proactive intelligence. Let Recordsure show you how AI can make that shift real. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why AI holds the key to future-proofing ongoing advice compliance", "item": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/", "name": "Why AI holds the key to future-proofing ongoing advice compliance", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-06-13T10:12:35+01:00", "dateModified": "2025-06-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-06-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why AI holds the key to future-proofing ongoing advice compliance", "datePublished": "2025-06-13T10:12:35+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1811cae20f3f4eeea6fc010b8922b488/thumbnail-1024-d1f8ad5febe34622e9632e56641d771a4c7a1fb0e74538ade1065f4d148f5e3a.png", "description": "How AI is transforming ongoing advice compliance, helping firms meet FCA expectations and future-proof their services.", "inLanguage": "en-GB", "articleBody": "AI can help advice firms evidence ongoing advice services, identify gaps and move from reactive processes to proactive intelligence as FCA expectations rise.\n\nAt intelliflo\u2019s innovate 2025, a number of presenters took to the stage, including Recordsure\u2019s Chief Product and Commercial Officer, Garry Evans.\n\nGarry shared the message that firms who embrace AI today won\u2019t just keep up with regulatory demands \u2013 they\u2019ll set the standard for tomorrow\u2019s best practice. That means being able to demonstrate their ongoing advice services with evidence and ensuring alignment with each client\u2019s evolving needs.\n\nJason Wintie, Strategic Regulatory Director at our compliance partner TCC Group, also took to the stage to contextualise the regulator\u2019s concerns about how ongoing advice is delivered across the industry. Jason opened the session by explaining that the FCA\u2019s concerns around ongoing advice aren\u2019t new. For years, the regulator has warned against clients paying for services they might not actually receive. But in early 2024, things escalated.\n\nDeliver ongoing advice compliantly\n\nThis culminated in the FCA\u2019s recent actions, including data requests and suitability assessments across major advice firms, which have brought this issue to the forefront. For many, it has exposed weaknesses in their ability to track, document and quality-assure ongoing services. However, amid the pressure lies a significant opportunity \u2013 one that\u2019s being unlocked by AI.\n\nAfter Jason\u2019s regulatory walkthrough, Claire Bell from Attivo took to the stage to spotlight just that. Claire shared how her organisation has approached these challenges internally with the power of Recordsure. Her message was that change is possible, but it requires focus, leadership and a genuine willingness to evolve.\n\nUnlock the power of AI\n\nAt Recordsure, we believe that the future of ongoing advice lies in predictive AI. Rather than relying on manual reviews or diary reminders, firms can harness intelligent automation to flag incomplete reviews, identify potential compliance gaps and highlight areas where client data needs updating before it becomes a regulatory issue.\n\nSatisfy the regulator\n\nThis goes beyond efficiency. It\u2019s about transforming how firms manage risk, advise clients and satisfy the regulator all at once. Recordsure technology complements human judgment by surfacing the right insights at the right time, enabling advisers to make faster, more confident decisions. From improving governance reporting to identifying gaps in service delivery, the benefits of AI-driven advice oversight are already being realised by forward-thinking firms.\n\nFutureproof your advice services\n\nThe FCA\u2019s expectations are rising, but so too are the tools available to meet them. Now is the time to evolve from reactive processes to proactive intelligence. Let Recordsure show you how AI can make that shift real.", "wordCount": 431, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice AI" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "text": "At intelliflo\u2019s innovate 2025, a number of presenters took to the stage, including Recordsure\u2019s Chief Product and Commercial Officer, Garry Evans.\n\nGarry shared the message that firms who embrace AI today won\u2019t just keep up with regulatory demands \u2013 they\u2019ll set the standard for tomorrow\u2019s best practice. That means being able to demonstrate their ongoing advice services with evidence and ensuring alignment with each client\u2019s evolving needs.\n\nJason Wintie, Strategic Regulatory Director at our compliance partner TCC Group, also took to the stage to contextualise the regulator\u2019s concerns about how ongoing advice is delivered across the industry. Jason opened the session by explaining that the FCA\u2019s concerns around ongoing advice aren\u2019t new. For years, the regulator has warned against clients paying for services they might not actually receive. But in early 2024, things escalated." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Deliver ongoing advice compliantly", "text": "This culminated in the FCA\u2019s recent actions, including data requests and suitability assessments across major advice firms, which have brought this issue to the forefront. For many, it has exposed weaknesses in their ability to track, document and quality-assure ongoing services. However, amid the pressure lies a significant opportunity \u2013 one that\u2019s being unlocked by AI.\n\nAfter Jason\u2019s regulatory walkthrough, Claire Bell from Attivo took to the stage to spotlight just that. Claire shared how her organisation has approached these challenges internally with the power of Recordsure. Her message was that change is possible, but it requires focus, leadership and a genuine willingness to evolve." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Unlock the power of AI", "text": "At Recordsure, we believe that the future of ongoing advice lies in predictive AI. Rather than relying on manual reviews or diary reminders, firms can harness intelligent automation to flag incomplete reviews, identify potential compliance gaps and highlight areas where client data needs updating before it becomes a regulatory issue." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Satisfy the regulator", "text": "This goes beyond efficiency. It\u2019s about transforming how firms manage risk, advise clients and satisfy the regulator all at once. Recordsure technology complements human judgment by surfacing the right insights at the right time, enabling advisers to make faster, more confident decisions. From improving governance reporting to identifying gaps in service delivery, the benefits of AI-driven advice oversight are already being realised by forward-thinking firms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Futureproof your advice services", "text": "The FCA\u2019s expectations are rising, but so too are the tools available to meet them. Now is the time to evolve from reactive processes to proactive intelligence. Let Recordsure show you how AI can make that shift real." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/futureproof-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where was the discussion presented?", "acceptedAnswer": { "@type": "Answer", "text": "The discussion was presented at intelliflo\u2019s innovate 2025." } }, { "@type": "Question", "name": "What FCA concern is highlighted?", "acceptedAnswer": { "@type": "Answer", "text": "Clients may pay for ongoing advice services they might not actually receive." } }, { "@type": "Question", "name": "How can predictive AI help?", "acceptedAnswer": { "@type": "Answer", "text": "It can flag incomplete reviews, compliance gaps and areas where client data needs updating." } }, { "@type": "Question", "name": "What did Attivo contribute?", "acceptedAnswer": { "@type": "Answer", "text": "Claire Bell shared how Attivo approached the challenges with Recordsure and stressed focus, leadership and willingness to evolve." } } ] } ] } ``` ### Tech-enabled solutions for motor finance redress - URL: https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/ - Published: 2025-06-06 - Modified: 2026-10-09 **Topic:** Motor finance readiness The FCA’s June 2025 communication highlighted practical preparation for a possible motor finance consumer redress scheme. Firms can use technology to identify affected customers, manage workflows and support reporting. #### Key points - The FCA highlighted complaint volumes, data, record keeping, resourcing and remediation strategy as key considerations. - Advanced analytics can help identify affected customers when historic data is fragmented or incomplete. - Automated communication and workflow tools can support consistent outreach, complaint logging and resolution. - Recordsure technology combines sector-specific context with analytics, workflow and MI reporting. - Operational readiness matters as the FCA finalises its approach to fair and efficient redress. The motor finance sector is on the cusp of significant regulatory changes. With the FCA contemplating a redress scheme for discretionary commission arrangements (DCAs) and a surge in affordability-related complaints, firms must act swiftly. A new communication regarding [Key considerations in implementing a possible motor finance consumer redress scheme](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme) was published by the regulator on 5th June 2025. It highlighted crucial factors that firms need to consider as they prepare for a potential consumer redress scheme. #### Harnessing AI technology for effective redress The communication signposts the importance of: - understanding potential complaint volumes - ensuring controlled data and record-keeping - developing adequate resourcing - remediation strategies Early preparation is crucial for managing the operational and regulatory challenges that may arise. Incorporating technology stands to enable this transformation and will allow firms to navigate the changes at a rapid pace. A proactive redress scheme demands more than traditional methods. Firms need to: - **Identify affected customers:** Advanced data analytics can sift through vast customer files to pinpoint customers eligible for redress, even when historical data is fragmented and incomplete. - **Streamline communication**: Automated communication tools ensure timely and consistent outreach across multiple channels, enhancing customer trust and engagement. - **Manage operational workflows**: Integrated platforms can handle increased workloads, from complaint logging to resolution, ensuring compliance and efficiency. #### Recordsure advantage Recordsure’s products have a backbone of sector-specific expertise and we’re a [responsible AI provider](/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/). Years of working with regulated industries have shaped our approach to help firms deliver more efficiently for their customers. Our proprietary AI is trained on sector-specific conversations and documents, allowing us to target the context and language of your organisation. Compared to the simple keyword matching typically used across the AI industry, our sophisticated contextual reasoning methodology yields a higher word accuracy rate. At Recordsure, we specialise in using technology to simplify complex compliance processes and redress operations: - AI-powered analytics: Our solutions delve deep into customer interactions, ensuring accurate identification of potential redress cases. - **Automated workflows**: From initial complaint to resolution, our platforms streamline processes, reducing manual intervention and errors. - **Comprehensive reporting**: Management Information (MI) dashboards provide valuable insights into ongoing redress activities, effective regulatory reporting and well-informed internal decision-making. #### Focus on operational readiness As the FCA finalises its approach, the emphasis will be on swift, fair, and efficient redress mechanisms. Motor finance firms equipped with the right technological tools will not only ensure compliance but also reinforce customer confidence. *Note: For a more detailed exploration of the regulatory landscape and its implications, refer to the original article by TCC Group:* [*Motor finance – is your firm ready for what’s ahead?*](https://tcc.group/blog/2025/06/05/motor-finance-redress-is-your-firm-ready-for-what-is-ahead/) #### Supporting sources - [FCA key considerations for a possible motor finance consumer redress scheme](https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme) (2025-06-05) - [Motor finance – is your firm ready for what’s ahead?](https://tcc.group/blog/2025/06/05/motor-finance-redress-is-your-firm-ready-for-what-is-ahead/) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Tech-enabled solutions for motor finance redress", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/", "name": "Tech-enabled solutions for motor finance redress", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-06-06T10:47:13+01:00", "dateModified": "2025-06-06T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-06-06" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Tech-enabled solutions for motor finance redress", "datePublished": "2025-06-06T10:47:13+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6a2742826c12433092327e6e59b3b8bc/thumbnail-1024-cc98a5dbb3f90d4a7e286b52e8d8ea70f409769a6d6b0c29b3c2d66389a5eb1d.png", "description": "Motor finance firms preparing for a possible consumer redress scheme need stronger data, record keeping, resourcing, remediation strategy and operational workflow.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s June 2025 communication highlighted practical preparation for a possible motor finance consumer redress scheme. Firms can use technology to identify affected customers, manage workflows and support reporting.\n\nThe motor finance sector is on the cusp of significant regulatory changes.\n\nWith the FCA contemplating a redress scheme for discretionary commission arrangements (DCAs) and a surge in affordability-related complaints, firms must act swiftly.\n\nA new communication regarding Key considerations in implementing a possible motor finance consumer redress scheme was published by the regulator on 5th June 2025. It highlighted crucial factors that firms need to consider as they prepare for a potential consumer redress scheme.\n\nHarnessing AI technology for effective redress\n\nThe communication signposts the importance of:\n\n\u2022 understanding potential complaint volumes\n\u2022 ensuring controlled data and record-keeping\n\u2022 developing adequate resourcing\n\u2022 remediation strategies\n\nEarly preparation is crucial for managing the operational and regulatory challenges that may arise. Incorporating technology stands to enable this transformation and will allow firms to navigate the changes at a rapid pace.\n\nA proactive redress scheme demands more than traditional methods. Firms need to:\n\n\u2022 Identify affected customers: Advanced data analytics can sift through vast customer files to pinpoint customers eligible for redress, even when historical data is fragmented and incomplete.\n\u2022 Streamline communication: Automated communication tools ensure timely and consistent outreach across multiple channels, enhancing customer trust and engagement.\n\u2022 Manage operational workflows: Integrated platforms can handle increased workloads, from complaint logging to resolution, ensuring compliance and efficiency.\n\nRecordsure advantage\n\nRecordsure\u2019s products have a backbone of sector-specific expertise and we\u2019re a responsible AI provider. Years of working with regulated industries have shaped our approach to help firms deliver more efficiently for their customers. Our proprietary AI is trained on sector-specific conversations and documents, allowing us to target the context and language of your organisation. Compared to the simple keyword matching typically used across the AI industry, our sophisticated contextual reasoning methodology yields a higher word accuracy rate.\n\nAt Recordsure, we specialise in using technology to simplify complex compliance processes and redress operations:\n\n\u2022 AI-powered analytics: Our solutions delve deep into customer interactions, ensuring accurate identification of potential redress cases.\n\u2022 Automated workflows: From initial complaint to resolution, our platforms streamline processes, reducing manual intervention and errors.\n\u2022 Comprehensive reporting: Management Information (MI) dashboards provide valuable insights into ongoing redress activities, effective regulatory reporting and well-informed internal decision-making.\n\nFocus on operational readiness\n\nAs the FCA finalises its approach, the emphasis will be on swift, fair, and efficient redress mechanisms. Motor finance firms equipped with the right technological tools will not only ensure compliance but also reinforce customer confidence.\n\nNote: For a more detailed exploration of the regulatory landscape and its implications, refer to the original article by TCC Group: Motor finance \u2013 is your firm ready for what\u2019s ahead?", "wordCount": 465, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Motor finance readiness" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA key considerations for a possible motor finance consumer redress scheme", "url": "https://www.fca.org.uk/news/statements/key-considerations-implementing-possible-motor-finance-consumer-redress-scheme", "datePublished": "2025-06-05" }, { "@type": "CreativeWork", "name": "Motor finance \u2013 is your firm ready for what\u2019s ahead?", "url": "https://tcc.group/blog/2025/06/05/motor-finance-redress-is-your-firm-ready-for-what-is-ahead/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "inLanguage": "en-GB", "text": "The motor finance sector is on the cusp of significant regulatory changes.\n\nWith the FCA contemplating a redress scheme for discretionary commission arrangements (DCAs) and a surge in affordability-related complaints, firms must act swiftly.\n\nA new communication regarding Key considerations in implementing a possible motor finance consumer redress scheme was published by the regulator on 5th June 2025. It highlighted crucial factors that firms need to consider as they prepare for a potential consumer redress scheme." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "inLanguage": "en-GB", "headline": "Harnessing AI technology for effective redress", "text": "The communication signposts the importance of:\n\n\u2022 understanding potential complaint volumes\n\u2022 ensuring controlled data and record-keeping\n\u2022 developing adequate resourcing\n\u2022 remediation strategies\n\nEarly preparation is crucial for managing the operational and regulatory challenges that may arise. Incorporating technology stands to enable this transformation and will allow firms to navigate the changes at a rapid pace.\n\nA proactive redress scheme demands more than traditional methods. Firms need to:\n\n\u2022 Identify affected customers: Advanced data analytics can sift through vast customer files to pinpoint customers eligible for redress, even when historical data is fragmented and incomplete.\n\u2022 Streamline communication: Automated communication tools ensure timely and consistent outreach across multiple channels, enhancing customer trust and engagement.\n\u2022 Manage operational workflows: Integrated platforms can handle increased workloads, from complaint logging to resolution, ensuring compliance and efficiency." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure advantage", "text": "Recordsure\u2019s products have a backbone of sector-specific expertise and we\u2019re a responsible AI provider. Years of working with regulated industries have shaped our approach to help firms deliver more efficiently for their customers. Our proprietary AI is trained on sector-specific conversations and documents, allowing us to target the context and language of your organisation. Compared to the simple keyword matching typically used across the AI industry, our sophisticated contextual reasoning methodology yields a higher word accuracy rate.\n\nAt Recordsure, we specialise in using technology to simplify complex compliance processes and redress operations:\n\n\u2022 AI-powered analytics: Our solutions delve deep into customer interactions, ensuring accurate identification of potential redress cases.\n\u2022 Automated workflows: From initial complaint to resolution, our platforms streamline processes, reducing manual intervention and errors.\n\u2022 Comprehensive reporting: Management Information (MI) dashboards provide valuable insights into ongoing redress activities, effective regulatory reporting and well-informed internal decision-making." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "inLanguage": "en-GB", "headline": "Focus on operational readiness", "text": "As the FCA finalises its approach, the emphasis will be on swift, fair, and efficient redress mechanisms. Motor finance firms equipped with the right technological tools will not only ensure compliance but also reinforce customer confidence.\n\nNote: For a more detailed exploration of the regulatory landscape and its implications, refer to the original article by TCC Group: Motor finance \u2013 is your firm ready for what\u2019s ahead?" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-finance-redress/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA communication highlight?", "acceptedAnswer": { "@type": "Answer", "text": "It signposted complaint volumes, strong data and record keeping, adequate resourcing and remediation strategies for a possible redress scheme." } }, { "@type": "Question", "name": "How can technology help identify affected customers?", "acceptedAnswer": { "@type": "Answer", "text": "Data analytics can search large customer files and highlight potentially eligible customers even where historic data is fragmented." } }, { "@type": "Question", "name": "What operational processes need support?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need consistent communications, complaint logging, workflow management, reporting and resolution controls." } }, { "@type": "Question", "name": "What should firms focus on now?", "acceptedAnswer": { "@type": "Answer", "text": "They should prepare for swift, fair and efficient redress mechanisms and ensure evidence is available for regulatory scrutiny." } } ] } ] } ``` ### The FCA’s focus on promoting the responsible use of AI - URL: https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/ - Published: 2025-05-01 - Modified: 2026-10-09 **Topic:** Responsible AI The FCA is supporting firms to invest in AI responsibly as part of its growth and innovation agenda. Firms should choose AI that reflects financial services context, customer outcomes and regulatory accountability. #### Key points - Jessica Rusu said the FCA wants firms to invest in AI in ways that drive growth and deliver positive outcomes. - The latest FCA strategy includes a smarter-regulator agenda in which AI has an important role. - A joint FCA and Bank of England survey indicated that 75% of firms have adopted some form of AI. - Recordsure technology is developed with sector expertise from TCC Group and trained on sector-specific conversations and documents. The FCA has further signalled its commitment to helping firms implement effective artificial intelligence with regulatory support. [Speaking at the Innovate Finance Global Summit earlier this week, the FCA’s chief data, information and intelligence officer, Jessica Rusu said](https://www.fca.org.uk/news/speeches/ai-growth-how-fca-can-help) “Our goal is to give firms the confidence to invest in AI in a way that drives growth and delivers positive outcomes for consumers and markets while at the same time offering us insights into what is needed to design and deploy responsible AI.” This latest communication emphasises the regulator’s commitment to supporting UK growth and innovation, with a key aim of attracting more business to the country, as outlined in the latest [FCA strategy](https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf). #### Pro-tech approach A key pillar of the FCA’s strategy is to make it a smarter regulator, and AI has an integral role to play. For instance, in its Supervision Hub, the regulator has used predictive AI to assist agents with live data, alongside an AI voice bot to direct consumers to the right regulatory body. #### Harnessing AI for customer benefit The FCA reports that the joint survey it conducted with the Bank of England indicated that 75% of firms have already adopted some form of AI. However, most use cases are internal applications, rather than driving benefits for customers and the broader market. #### AI built on industry expertise The FCA is investing time and support for financial service firms to help them embrace beneficial AI that contributes to growth and positive outcomes. Choosing the right AI for a firm can be challenging, which is why Recordsure technology, developed with industry expertise from Recordsure’s sister company and regulatory specialists at [TCC Group](https://tcc.group/), is positioned as a trusted solution. Recordsure’s products have a backbone of sector-specific expertise and Recordsure is a [responsible AI provider](/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/). Years of working with regulated industries have shaped its approach to help firms deliver more efficiently for customers. Its proprietary AI is trained on sector-specific conversations and documents, allowing it to target the context and language of an organisation. Compared with simple keyword matching typically used across the AI industry, its contextual reasoning methodology yields a higher word accuracy rate. #### Supporting sources - [FCA speech: AI and growth, how the FCA can help](https://www.fca.org.uk/news/speeches/ai-growth-how-fca-can-help) - [FCA strategy 2025 to 2030](https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The FCA\u2019s focus on promoting the responsible use of AI", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/", "name": "The FCA\u2019s focus on promoting the responsible use of AI", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-05-01T14:20:17+01:00", "dateModified": "2025-05-01T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-05-01" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The FCA\u2019s focus on promoting the responsible use of AI", "datePublished": "2025-05-01T14:20:17+01:00", "dateModified": "2026-10-09T04:50:11+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/760b5d3539424afc8e4d872030762613/thumbnail-1024-744dd680289ecd3a82aefaef5015bd7f14e3c698d7fc622747e58319b89557f9.png", "description": "The FCA is encouraging responsible AI adoption as part of its growth agenda, while firms still need sector expertise, accountability and customer-focused controls.", "inLanguage": "en-GB", "articleBody": "The FCA is supporting firms to invest in AI responsibly as part of its growth and innovation agenda. Firms should choose AI that reflects financial services context, customer outcomes and regulatory accountability.\n\nThe FCA has further signalled its commitment to helping firms implement effective artificial intelligence with regulatory support.\n\nSpeaking at the Innovate Finance Global Summit earlier this week, the FCA\u2019s chief data, information and intelligence officer, Jessica Rusu said \u201cOur goal is to give firms the confidence to invest in AI in a way that drives growth and delivers positive outcomes for consumers and markets while at the same time offering us insights into what is needed to design and deploy responsible AI.\u201d\n\nThis latest communication emphasises the regulator\u2019s commitment to supporting UK growth and innovation, with a key aim of attracting more business to the country, as outlined in the latest FCA strategy.\n\nPro-tech approach\n\nA key pillar of the FCA\u2019s strategy is to make it a smarter regulator, and AI has an integral role to play. For instance, in its Supervision Hub, the regulator has used predictive AI to assist agents with live data, alongside an AI voice bot to direct consumers to the right regulatory body.\n\nHarnessing AI for customer benefit\n\nThe FCA reports that the joint survey it conducted with the Bank of England indicated that 75% of firms have already adopted some form of AI. However, most use cases are internal applications, rather than driving benefits for customers and the broader market.\n\nAI built on industry expertise\n\nThe FCA is investing time and support for financial service firms to help them embrace beneficial AI that contributes to growth and positive outcomes. Choosing the right AI for a firm can be challenging, which is why Recordsure technology, developed with industry expertise from Recordsure\u2019s sister company and regulatory specialists at TCC Group, is positioned as a trusted solution.\n\nRecordsure\u2019s products have a backbone of sector-specific expertise and Recordsure is a responsible AI provider. Years of working with regulated industries have shaped its approach to help firms deliver more efficiently for customers. Its proprietary AI is trained on sector-specific conversations and documents, allowing it to target the context and language of an organisation. Compared with simple keyword matching typically used across the AI industry, its contextual reasoning methodology yields a higher word accuracy rate.", "wordCount": 387, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Responsible AI" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA speech: AI and growth, how the FCA can help", "url": "https://www.fca.org.uk/news/speeches/ai-growth-how-fca-can-help" }, { "@type": "CreativeWork", "name": "FCA strategy 2025 to 2030", "url": "https://www.fca.org.uk/publication/corporate/our-strategy-2025-30.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has further signalled its commitment to helping firms implement effective artificial intelligence with regulatory support.\n\nSpeaking at the Innovate Finance Global Summit earlier this week, the FCA\u2019s chief data, information and intelligence officer, Jessica Rusu said \u201cOur goal is to give firms the confidence to invest in AI in a way that drives growth and delivers positive outcomes for consumers and markets while at the same time offering us insights into what is needed to design and deploy responsible AI.\u201d\n\nThis latest communication emphasises the regulator\u2019s commitment to supporting UK growth and innovation, with a key aim of attracting more business to the country, as outlined in the latest FCA strategy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "inLanguage": "en-GB", "headline": "Pro-tech approach", "text": "A key pillar of the FCA\u2019s strategy is to make it a smarter regulator, and AI has an integral role to play. For instance, in its Supervision Hub, the regulator has used predictive AI to assist agents with live data, alongside an AI voice bot to direct consumers to the right regulatory body." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "inLanguage": "en-GB", "headline": "Harnessing AI for customer benefit", "text": "The FCA reports that the joint survey it conducted with the Bank of England indicated that 75% of firms have already adopted some form of AI. However, most use cases are internal applications, rather than driving benefits for customers and the broader market." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "inLanguage": "en-GB", "headline": "AI built on industry expertise", "text": "The FCA is investing time and support for financial service firms to help them embrace beneficial AI that contributes to growth and positive outcomes. Choosing the right AI for a firm can be challenging, which is why Recordsure technology, developed with industry expertise from Recordsure\u2019s sister company and regulatory specialists at TCC Group, is positioned as a trusted solution.\n\nRecordsure\u2019s products have a backbone of sector-specific expertise and Recordsure is a responsible AI provider. Years of working with regulated industries have shaped its approach to help firms deliver more efficiently for customers. Its proprietary AI is trained on sector-specific conversations and documents, allowing it to target the context and language of an organisation. Compared with simple keyword matching typically used across the AI industry, its contextual reasoning methodology yields a higher word accuracy rate." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-signals-commitment-to-helping-firms-implement-ai-responsibly/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did Jessica Rusu say about AI?", "acceptedAnswer": { "@type": "Answer", "text": "She said the FCA wants to give firms confidence to invest in AI in ways that drive growth and deliver positive outcomes for consumers and markets." } }, { "@type": "Question", "name": "How is the FCA using AI itself?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has used predictive AI in its Supervision Hub and an AI voice bot to direct consumers to the right regulatory body." } }, { "@type": "Question", "name": "What did the FCA and Bank of England survey indicate?", "acceptedAnswer": { "@type": "Answer", "text": "It indicated that 75% of firms have already adopted some form of AI, though most use cases are internal applications." } }, { "@type": "Question", "name": "Why does Recordsure emphasise sector expertise?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology is developed with expertise from TCC Group and trained on sector-specific conversations and documents to reflect regulated firms\u2019 context and language." } } ] } ] } ``` ### Recordsure: TCC Group acquires Momenta Group - URL: https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/ - Published: 2025-04-28 - Modified: 2026-10-09 **Topic:** Momenta acquisition TCC Group acquired the assets and business of Momenta Group trading in the UK and Australia. The acquisition expands compliance, resourcing and technology support for regulated industries. #### Key points - TCC Group acquired Momenta Group’s business in the UK and Australia. - Momenta is described as a strategic client services and resourcing supplier for regulated industries. - The acquisition combines TCC Group’s compliance and technology expertise with Momenta’s resourcing capability. - The combined network includes over 30,000 associates. TCC Group, headed by The Consulting Consortium Holdings company, announced the acquisition of the assets and business of Momenta Group trading in the UK and Australia. Momenta is described as an elite supplier of strategic client services and resourcing solutions for regulated industries. The acquisition marks a significant milestone in TCC Group’s growth journey, broadening its operations and international reach, providing a more comprehensive suite of compliance solutions and enhancing its technology portfolio for clients across regulated industries. #### Combining compliance and resourcing capability With many decades of combined experience navigating complex regulatory environments, both [TCC Group](/) and [Momenta](https://momentagroup.com/) have built reputations as trusted partners to financial services, utilities and government organisations. The acquisition unites TCC Group’s expertise in compliance, regulatory problem-solving and smart AI technologies with Momenta’s resourcing and implementation capabilities, enabling clients to benefit from greater flexibility, innovation and strategic value. Joanne Smith, Founder and Executive Chair of TCC Group, said: “Momenta’s acquisition enhances TCC Group’s ability to serve highly regulated industries with comprehensive, end-to-end services that ensure seamless client delivery, elevate customer outcomes, and drive commercial excellence.” Joanne continued: “Together, we’re committed to offering our clients proven, strategic solutions and innovation in environments where compliance, governance, and operational quality are non-negotiable.” #### Expanded interim resourcing TCC Group’s ability to deliver enhanced strategic resourcing solutions to clients and partners is accelerated by the acquisition, substantially expanding the organisation’s interim resourcing capacity to execute complex projects with increased speed, precision and scalability. Joe Norburn, CEO of TCC Group, said: “We’re proud of our strong reputation as a trusted strategic resourcing partner, now further reinforced by a combined network of over 30,000 highly-skilled, credible associates.” He added that the aim is to keep empowering clients and partners by providing precisely matched interim resource and compliance solutions that deliver operational success. #### Technology and compliance support for Momenta clients TCC Group and its technology business Recordsure now extend value to Momenta’s clients, with access to TCC’s regulatory expertise and Recordsure’s AI-powered RegTech. Momenta’s UK Chief Delivery Officer, Kim McKeown, said joining TCC Group was an opportunity to scale regulatory compliance services and technological capabilities, enabling wider-reaching strategic solutions and specialist resource for clients. Simon Rippon, Momenta’s Australia Operations Director, said joining TCC Group unlocks a new technology stack designed for highly regulated sectors. He said the combination of client services expertise and AI-driven compliance tools means Momenta is better equipped to meet regulator demands. The acquisition signals TCC Group’s continued investment in solutions to improve the quality of outcomes for clients and reinforces its position in compliance. #### Supporting sources - [Momenta](https://momentagroup.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The acquisition expands compliance, resourcing and technology support for regulated industries.\n\nTCC Group, headed by The Consulting Consortium Holdings company, announced the acquisition of the assets and business of Momenta Group trading in the UK and Australia. Momenta is described as an elite supplier of strategic client services and resourcing solutions for regulated industries.\n\nThe acquisition marks a significant milestone in TCC Group\u2019s growth journey, broadening its operations and international reach, providing a more comprehensive suite of compliance solutions and enhancing its technology portfolio for clients across regulated industries.\n\nCombining compliance and resourcing capability\n\nWith many decades of combined experience navigating complex regulatory environments, both TCC Group and Momenta have built reputations as trusted partners to financial services, utilities and government organisations.\n\nThe acquisition unites TCC Group\u2019s expertise in compliance, regulatory problem-solving and smart AI technologies with Momenta\u2019s resourcing and implementation capabilities, enabling clients to benefit from greater flexibility, innovation and strategic value.\n\nJoanne Smith, Founder and Executive Chair of TCC Group, said: \u201cMomenta\u2019s acquisition enhances TCC Group\u2019s ability to serve highly regulated industries with comprehensive, end-to-end services that ensure seamless client delivery, elevate customer outcomes, and drive commercial excellence.\u201d\n\nJoanne continued: \u201cTogether, we\u2019re committed to offering our clients proven, strategic solutions and innovation in environments where compliance, governance, and operational quality are non-negotiable.\u201d\n\nExpanded interim resourcing\n\nTCC Group\u2019s ability to deliver enhanced strategic resourcing solutions to clients and partners is accelerated by the acquisition, substantially expanding the organisation\u2019s interim resourcing capacity to execute complex projects with increased speed, precision and scalability.\n\nJoe Norburn, CEO of TCC Group, said: \u201cWe\u2019re proud of our strong reputation as a trusted strategic resourcing partner, now further reinforced by a combined network of over 30,000 highly-skilled, credible associates.\u201d He added that the aim is to keep empowering clients and partners by providing precisely matched interim resource and compliance solutions that deliver operational success.\n\nTechnology and compliance support for Momenta clients\n\nTCC Group and its technology business Recordsure now extend value to Momenta\u2019s clients, with access to TCC\u2019s regulatory expertise and Recordsure\u2019s AI-powered RegTech.\n\nMomenta\u2019s UK Chief Delivery Officer, Kim McKeown, said joining TCC Group was an opportunity to scale regulatory compliance services and technological capabilities, enabling wider-reaching strategic solutions and specialist resource for clients.\n\nSimon Rippon, Momenta\u2019s Australia Operations Director, said joining TCC Group unlocks a new technology stack designed for highly regulated sectors. 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Momenta is described as an elite supplier of strategic client services and resourcing solutions for regulated industries.\n\nThe acquisition marks a significant milestone in TCC Group\u2019s growth journey, broadening its operations and international reach, providing a more comprehensive suite of compliance solutions and enhancing its technology portfolio for clients across regulated industries." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#webpage" }, "inLanguage": "en-GB", "headline": "Combining compliance and resourcing capability", "text": "With many decades of combined experience navigating complex regulatory environments, both TCC Group and Momenta have built reputations as trusted partners to financial services, utilities and government organisations.\n\nThe acquisition unites TCC Group\u2019s expertise in compliance, regulatory problem-solving and smart AI technologies with Momenta\u2019s resourcing and implementation capabilities, enabling clients to benefit from greater flexibility, innovation and strategic value.\n\nJoanne Smith, Founder and Executive Chair of TCC Group, said: \u201cMomenta\u2019s acquisition enhances TCC Group\u2019s ability to serve highly regulated industries with comprehensive, end-to-end services that ensure seamless client delivery, elevate customer outcomes, and drive commercial excellence.\u201d\n\nJoanne continued: \u201cTogether, we\u2019re committed to offering our clients proven, strategic solutions and innovation in environments where compliance, governance, and operational quality are non-negotiable.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#webpage" }, "inLanguage": "en-GB", "headline": "Expanded interim resourcing", "text": "TCC Group\u2019s ability to deliver enhanced strategic resourcing solutions to clients and partners is accelerated by the acquisition, substantially expanding the organisation\u2019s interim resourcing capacity to execute complex projects with increased speed, precision and scalability.\n\nJoe Norburn, CEO of TCC Group, said: \u201cWe\u2019re proud of our strong reputation as a trusted strategic resourcing partner, now further reinforced by a combined network of over 30,000 highly-skilled, credible associates.\u201d He added that the aim is to keep empowering clients and partners by providing precisely matched interim resource and compliance solutions that deliver operational success." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-group-acquires-momenta-group-to-expand-solutions-for-regulated-industries/#webpage" }, "inLanguage": "en-GB", "headline": "Technology and compliance support for Momenta clients", "text": "TCC Group and its technology business Recordsure now extend value to Momenta\u2019s clients, with access to TCC\u2019s regulatory expertise and Recordsure\u2019s AI-powered RegTech.\n\nMomenta\u2019s UK Chief Delivery Officer, Kim McKeown, said joining TCC Group was an opportunity to scale regulatory compliance services and technological capabilities, enabling wider-reaching strategic solutions and specialist resource for clients.\n\nSimon Rippon, Momenta\u2019s Australia Operations Director, said joining TCC Group unlocks a new technology stack designed for highly regulated sectors. 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The final part of TCC’s webinar continued the house view on the FCA’s ongoing advice review findings for wealth managers. Recordsure’s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan. The session explored how wealth management firms can deliver long-term compliance for ongoing advice services, why RegTech has a role in evidencing ongoing advice reviews, and how firms can build actionable MI. #### Garry Evans Garry said the FCA had not been, and may never be, explicit in its requirements for regulated firms, but TCC’s house view aimed to clarify the firm’s interpretation of the regulator’s position. He asked whether firms planned to conduct a past business review. Although he believed the FCA had indicated that it did not think there was a large redress population, he said the need for a past business review was being solidified back to 2018. Garry said he was pleased to see a pragmatic approach from those planning action. For firms not planning work, he said TCC may see the issue return when the FCA checks in after six months. As a minimum, he recommended collecting a meaningful sample review so firms can make an educated assessment of how much of a problem they may have. He also asked for the minimum acceptable measures that would avoid negative FCA attention, recognising that measures to ensure complete compliance could be onerous and expensive. Garry said there were measures that wealth managers could put in place to be fully compliant, but that some would be onerous and expensive. He therefore asked for TCC’s view of a pragmatic set of measures that could reduce the risk of negative FCA attention. He said the response from firms not planning action was predictable, but TCC’s concern was that the FCA had not forgotten the issue. Firms should therefore create enough evidence to support a meaningful assessment before the regulator returns. Garry said that, despite the FCA’s de-escalation, he did not think the regulator had forgotten about the issue. He expected some fall out when the FCA came back to check in, which is why TCC recommended at least a meaningful sample review. He noted that TCC had been involved in many ongoing servicing projects over the previous 12 months and that there were measures firms could take to ensure compliance, even if some were expensive. #### David Boyhan David said it is crucial to remember that for wealth management the FCA has had ongoing advice in the past two portfolio strategy letters. Although firms were happy with the findings released in the previous month, he said the issue has not gone away and will return later in the year. As an ex-FCA supervisor, he said the last thing a firm should say when the regulator arrives is that it has done nothing. TCC’s recommended minimum expectations were the backwards-looking work going back to 2018, plus forward-looking work on fair value assessments and review of MI from the past business review. He identified the disengagement process as a key issue. When TCC asks firms how many clients have disengaged over the previous 12, 24 or 36 months, the answer is often a handful, if any. David said the FCA will expect a material number of clients to be disengaged if they have not been using a service, while firms also need to take vulnerable clients into account. His short advice was to complete the backwards-looking piece and make sure current processes meet the FCA’s specified requirements. David said he was mindful of time but wanted to be clear that ongoing advice had appeared in the past two portfolio strategy letters for the sector. In his view, the issue would come back, so firms should avoid appearing to have taken no action. He said the forward-looking piece includes making sure current processes meet FCA expectations. That includes fair value assessments, MI from the review work, disengagement processes and the treatment of vulnerable clients. David said the question is what firms should do now, not whether the FCA findings were welcome. His recommendation was to complete the backwards-looking work and make sure forward-looking processes satisfy the regulator’s expectations. #### Gary Maude Gary preferred the word “proportional” to “minimum”, because firms vary in size, complexity and client numbers. He said proportionality can help firms avoid a wide-scale past business review, and TCC often avoids Section 166s and VREQs by taking a proportionate sample of files. Even where files are not tidy, the aim is to reach a conclusion on whether there is customer detriment. He said firms have struggled to collate information from different systems because systems are old, have changed, information has been lost, or some information remains paper-based and unscanned. As a result, confidence in evidence can fluctuate and affect next steps. Gary said firms need to consider confidence in sampling, adviser adherence to their own process, possible PI or disciplinary implications, and ongoing provisioning implications. They also need to assess how able they are to defend the possibility of a larger-scale past business review and whether a causation approach will stand up to expectations from the regulator and PI insurer. He repeated that many firms are struggling to assemble a cohesive pack of information to determine whether advice took place and assess its quality. That leads to the question of where firms stand on redress if they have done some work that may or may not match their terms and conditions. Gary said many attendees would be speaking to legal representatives, and that DAC would cover the legal detail. If there is redress, the clarity of chronology, frequency of client contact or attempted contact, and the mediums used could all be relevant to causation, including when the client should reasonably have challenged the firm. Gary explained that confidence in evidence can affect sampling, adviser-adherence conclusions, PI implications, disciplinary implications and provisioning. He said next-stage implications also depend on whether the firm’s own process is clear enough and whether the evidence can support a defensible causation approach. He noted that chronology, frequency and medium of contact can all become relevant if there is redress, because they help determine when a client could or should reasonably have challenged the firm. Gary said TCC had seen real-time scenarios where firms struggle to pull together information from old systems, changed systems, lost records, paper files and unscanned material. That struggle affects confidence in the evidence available and, consequently, the next steps firms choose. He said firms may need to consider whether adviser adherence to process creates PI implications or disciplinary implications. They may also need to consider whether their own process is clear enough to support any next-stage decisions. He said many firms were now talking about what happens where they have done something, and perhaps many good things, but the work may not match their terms and conditions. That question affects redress, causation and the ability to defend a wider past business review. Gary said firms often attempt to avoid larger reviews by taking a proportionate sample of files and trying to reach a defensible conclusion of no customer detriment. That approach depends on the quality of advice for each individual firm. He referred to current discussions around St James’ Place and what he understood was called Mr B. He said many firms would need to speak to legal representatives, and that DAC would cover more detail on the following Wednesday. #### TCC house view Garry closed by summarising TCC’s house view. He said the FCA’s findings were surprisingly positive, but because survey results were self-reported and did not show much evidence burden, they may be more positive than the market position. He said the FCA had indicated a low redress population, but TCC still expects wealth managers to identify which category each client falls into for each service review period back to the start of 2018 and at least redress the 2% that were not offered a review. He said MI based on practice management system data would not be acceptable as evidence of a review taking place. TCC’s view was that evidence should include at least updated KYC, recent attitude to risk documentation, and an updated suitability letter. For declines and disengagement, firms need proof of contact for every service review period. Garry added that email is probably one of the most acceptable channels because it is literal proof, and a recording of a conversation is even better. TCC’s view was that clients who were not offered a review for any period should have their fees refunded for that period. Garry said TCC did not currently believe consequential loss questions are required. For clients with multiple service review periods where they declined or did not engage, fees should be refunded for every period after the second decline of engagement. He added that live clients who, on review, had more than one year of decline or disengagement should have to opt in to continue an ongoing advice service. Any client with no-change reviews for more than two years in a row should have suitability advice checked. Garry caveated that these were TCC house views and interpretation of the FCA guidance and letter, not direct statements from the FCA. Garry also said clients with multiple declined or disengaged periods may need differentiated treatment. Where live clients had more than one year of decline or disengagement, TCC’s view was that they should actively opt in to continue an ongoing advice service. He said the FCA’s survey results were self-reported, so the market position may be less positive. His summary also said practice management system MI alone would not be acceptable as evidence of a review taking place. Garry said his closing points were not direct FCA requirements but TCC’s interpretation of the FCA guidance and letter. He presented them as a useful benchmark for firms considering their own response. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Part 3: FCA\u2019s ongoing advice services review: long term compliance and RegTech", "item": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/", "name": "Part 3: FCA\u2019s ongoing advice services review: long term compliance and RegTech", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-04-02T04:57:15+01:00", "dateModified": "2025-04-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-04-24" }, { "@type": "Article", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Part 3: FCA\u2019s ongoing advice services review: long term compliance and RegTech", "datePublished": "2025-04-02T04:57:15+01:00", "dateModified": "2026-10-09T04:50:37+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e435c34aaa004a7c80eb35daba68786c/thumbnail-1024-3e590bd9f4ff87b5755cb0536a473627b3fab4133619f0b3ae55ce9ef7f42d5d.jpg", "description": "The final webinar section examines long-term compliance, proportional review work, evidence quality, redress considerations and the role of RegTech.", "inLanguage": "en-GB", "articleBody": "TCC sets out its house view on past business reviews, proportional evidence work, redress considerations and longer-term compliance for ongoing advice services.\n\nThe final part of TCC\u2019s webinar continued the house view on the FCA\u2019s ongoing advice review findings for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe session explored how wealth management firms can deliver long-term compliance for ongoing advice services, why RegTech has a role in evidencing ongoing advice reviews, and how firms can build actionable MI.\n\nGarry Evans\n\nGarry said the FCA had not been, and may never be, explicit in its requirements for regulated firms, but TCC\u2019s house view aimed to clarify the firm\u2019s interpretation of the regulator\u2019s position.\n\nHe asked whether firms planned to conduct a past business review. Although he believed the FCA had indicated that it did not think there was a large redress population, he said the need for a past business review was being solidified back to 2018.\n\nGarry said he was pleased to see a pragmatic approach from those planning action. For firms not planning work, he said TCC may see the issue return when the FCA checks in after six months. As a minimum, he recommended collecting a meaningful sample review so firms can make an educated assessment of how much of a problem they may have.\n\nHe also asked for the minimum acceptable measures that would avoid negative FCA attention, recognising that measures to ensure complete compliance could be onerous and expensive.\n\nGarry said there were measures that wealth managers could put in place to be fully compliant, but that some would be onerous and expensive. He therefore asked for TCC\u2019s view of a pragmatic set of measures that could reduce the risk of negative FCA attention.\n\nHe said the response from firms not planning action was predictable, but TCC\u2019s concern was that the FCA had not forgotten the issue. Firms should therefore create enough evidence to support a meaningful assessment before the regulator returns.\n\nGarry said that, despite the FCA\u2019s de-escalation, he did not think the regulator had forgotten about the issue. He expected some fall out when the FCA came back to check in, which is why TCC recommended at least a meaningful sample review.\n\nHe noted that TCC had been involved in many ongoing servicing projects over the previous 12 months and that there were measures firms could take to ensure compliance, even if some were expensive.\n\nDavid Boyhan\n\nDavid said it is crucial to remember that for wealth management the FCA has had ongoing advice in the past two portfolio strategy letters. Although firms were happy with the findings released in the previous month, he said the issue has not gone away and will return later in the year.\n\nAs an ex-FCA supervisor, he said the last thing a firm should say when the regulator arrives is that it has done nothing. TCC\u2019s recommended minimum expectations were the backwards-looking work going back to 2018, plus forward-looking work on fair value assessments and review of MI from the past business review.\n\nHe identified the disengagement process as a key issue. When TCC asks firms how many clients have disengaged over the previous 12, 24 or 36 months, the answer is often a handful, if any. David said the FCA will expect a material number of clients to be disengaged if they have not been using a service, while firms also need to take vulnerable clients into account.\n\nHis short advice was to complete the backwards-looking piece and make sure current processes meet the FCA\u2019s specified requirements.\n\nDavid said he was mindful of time but wanted to be clear that ongoing advice had appeared in the past two portfolio strategy letters for the sector. In his view, the issue would come back, so firms should avoid appearing to have taken no action.\n\nHe said the forward-looking piece includes making sure current processes meet FCA expectations. That includes fair value assessments, MI from the review work, disengagement processes and the treatment of vulnerable clients.\n\nDavid said the question is what firms should do now, not whether the FCA findings were welcome. His recommendation was to complete the backwards-looking work and make sure forward-looking processes satisfy the regulator\u2019s expectations.\n\nGary Maude\n\nGary preferred the word \u201cproportional\u201d to \u201cminimum\u201d, because firms vary in size, complexity and client numbers. He said proportionality can help firms avoid a wide-scale past business review, and TCC often avoids Section 166s and VREQs by taking a proportionate sample of files. Even where files are not tidy, the aim is to reach a conclusion on whether there is customer detriment.\n\nHe said firms have struggled to collate information from different systems because systems are old, have changed, information has been lost, or some information remains paper-based and unscanned. As a result, confidence in evidence can fluctuate and affect next steps.\n\nGary said firms need to consider confidence in sampling, adviser adherence to their own process, possible PI or disciplinary implications, and ongoing provisioning implications. They also need to assess how able they are to defend the possibility of a larger-scale past business review and whether a causation approach will stand up to expectations from the regulator and PI insurer.\n\nHe repeated that many firms are struggling to assemble a cohesive pack of information to determine whether advice took place and assess its quality. That leads to the question of where firms stand on redress if they have done some work that may or may not match their terms and conditions.\n\nGary said many attendees would be speaking to legal representatives, and that DAC would cover the legal detail. If there is redress, the clarity of chronology, frequency of client contact or attempted contact, and the mediums used could all be relevant to causation, including when the client should reasonably have challenged the firm.\n\nGary explained that confidence in evidence can affect sampling, adviser-adherence conclusions, PI implications, disciplinary implications and provisioning. He said next-stage implications also depend on whether the firm\u2019s own process is clear enough and whether the evidence can support a defensible causation approach.\n\nHe noted that chronology, frequency and medium of contact can all become relevant if there is redress, because they help determine when a client could or should reasonably have challenged the firm.\n\nGary said TCC had seen real-time scenarios where firms struggle to pull together information from old systems, changed systems, lost records, paper files and unscanned material. That struggle affects confidence in the evidence available and, consequently, the next steps firms choose.\n\nHe said firms may need to consider whether adviser adherence to process creates PI implications or disciplinary implications. They may also need to consider whether their own process is clear enough to support any next-stage decisions.\n\nHe said many firms were now talking about what happens where they have done something, and perhaps many good things, but the work may not match their terms and conditions. That question affects redress, causation and the ability to defend a wider past business review.\n\nGary said firms often attempt to avoid larger reviews by taking a proportionate sample of files and trying to reach a defensible conclusion of no customer detriment. That approach depends on the quality of advice for each individual firm.\n\nHe referred to current discussions around St James\u2019 Place and what he understood was called Mr B. He said many firms would need to speak to legal representatives, and that DAC would cover more detail on the following Wednesday.\n\nTCC house view\n\nGarry closed by summarising TCC\u2019s house view. He said the FCA\u2019s findings were surprisingly positive, but because survey results were self-reported and did not show much evidence burden, they may be more positive than the market position.\n\nHe said the FCA had indicated a low redress population, but TCC still expects wealth managers to identify which category each client falls into for each service review period back to the start of 2018 and at least redress the 2% that were not offered a review. He said MI based on practice management system data would not be acceptable as evidence of a review taking place.\n\nTCC\u2019s view was that evidence should include at least updated KYC, recent attitude to risk documentation, and an updated suitability letter. For declines and disengagement, firms need proof of contact for every service review period. Garry added that email is probably one of the most acceptable channels because it is literal proof, and a recording of a conversation is even better.\n\nTCC\u2019s view was that clients who were not offered a review for any period should have their fees refunded for that period. Garry said TCC did not currently believe consequential loss questions are required. For clients with multiple service review periods where they declined or did not engage, fees should be refunded for every period after the second decline of engagement.\n\nHe added that live clients who, on review, had more than one year of decline or disengagement should have to opt in to continue an ongoing advice service. Any client with no-change reviews for more than two years in a row should have suitability advice checked. Garry caveated that these were TCC house views and interpretation of the FCA guidance and letter, not direct statements from the FCA.\n\nGarry also said clients with multiple declined or disengaged periods may need differentiated treatment. Where live clients had more than one year of decline or disengagement, TCC\u2019s view was that they should actively opt in to continue an ongoing advice service.\n\nHe said the FCA\u2019s survey results were self-reported, so the market position may be less positive. His summary also said practice management system MI alone would not be acceptable as evidence of a review taking place.\n\nGarry said his closing points were not direct FCA requirements but TCC\u2019s interpretation of the FCA guidance and letter. He presented them as a useful benchmark for firms considering their own response.", "wordCount": 1663, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Long-term compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "text": "The final part of TCC\u2019s webinar continued the house view on the FCA\u2019s ongoing advice review findings for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe session explored how wealth management firms can deliver long-term compliance for ongoing advice services, why RegTech has a role in evidencing ongoing advice reviews, and how firms can build actionable MI." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "Garry Evans", "text": "Garry said the FCA had not been, and may never be, explicit in its requirements for regulated firms, but TCC\u2019s house view aimed to clarify the firm\u2019s interpretation of the regulator\u2019s position.\n\nHe asked whether firms planned to conduct a past business review. Although he believed the FCA had indicated that it did not think there was a large redress population, he said the need for a past business review was being solidified back to 2018.\n\nGarry said he was pleased to see a pragmatic approach from those planning action. For firms not planning work, he said TCC may see the issue return when the FCA checks in after six months. As a minimum, he recommended collecting a meaningful sample review so firms can make an educated assessment of how much of a problem they may have.\n\nHe also asked for the minimum acceptable measures that would avoid negative FCA attention, recognising that measures to ensure complete compliance could be onerous and expensive.\n\nGarry said there were measures that wealth managers could put in place to be fully compliant, but that some would be onerous and expensive. He therefore asked for TCC\u2019s view of a pragmatic set of measures that could reduce the risk of negative FCA attention.\n\nHe said the response from firms not planning action was predictable, but TCC\u2019s concern was that the FCA had not forgotten the issue. Firms should therefore create enough evidence to support a meaningful assessment before the regulator returns.\n\nGarry said that, despite the FCA\u2019s de-escalation, he did not think the regulator had forgotten about the issue. He expected some fall out when the FCA came back to check in, which is why TCC recommended at least a meaningful sample review.\n\nHe noted that TCC had been involved in many ongoing servicing projects over the previous 12 months and that there were measures firms could take to ensure compliance, even if some were expensive." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "David Boyhan", "text": "David said it is crucial to remember that for wealth management the FCA has had ongoing advice in the past two portfolio strategy letters. Although firms were happy with the findings released in the previous month, he said the issue has not gone away and will return later in the year.\n\nAs an ex-FCA supervisor, he said the last thing a firm should say when the regulator arrives is that it has done nothing. TCC\u2019s recommended minimum expectations were the backwards-looking work going back to 2018, plus forward-looking work on fair value assessments and review of MI from the past business review.\n\nHe identified the disengagement process as a key issue. When TCC asks firms how many clients have disengaged over the previous 12, 24 or 36 months, the answer is often a handful, if any. David said the FCA will expect a material number of clients to be disengaged if they have not been using a service, while firms also need to take vulnerable clients into account.\n\nHis short advice was to complete the backwards-looking piece and make sure current processes meet the FCA\u2019s specified requirements.\n\nDavid said he was mindful of time but wanted to be clear that ongoing advice had appeared in the past two portfolio strategy letters for the sector. In his view, the issue would come back, so firms should avoid appearing to have taken no action.\n\nHe said the forward-looking piece includes making sure current processes meet FCA expectations. That includes fair value assessments, MI from the review work, disengagement processes and the treatment of vulnerable clients.\n\nDavid said the question is what firms should do now, not whether the FCA findings were welcome. His recommendation was to complete the backwards-looking work and make sure forward-looking processes satisfy the regulator\u2019s expectations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "Gary Maude", "text": "Gary preferred the word \u201cproportional\u201d to \u201cminimum\u201d, because firms vary in size, complexity and client numbers. He said proportionality can help firms avoid a wide-scale past business review, and TCC often avoids Section 166s and VREQs by taking a proportionate sample of files. Even where files are not tidy, the aim is to reach a conclusion on whether there is customer detriment.\n\nHe said firms have struggled to collate information from different systems because systems are old, have changed, information has been lost, or some information remains paper-based and unscanned. As a result, confidence in evidence can fluctuate and affect next steps.\n\nGary said firms need to consider confidence in sampling, adviser adherence to their own process, possible PI or disciplinary implications, and ongoing provisioning implications. They also need to assess how able they are to defend the possibility of a larger-scale past business review and whether a causation approach will stand up to expectations from the regulator and PI insurer.\n\nHe repeated that many firms are struggling to assemble a cohesive pack of information to determine whether advice took place and assess its quality. That leads to the question of where firms stand on redress if they have done some work that may or may not match their terms and conditions.\n\nGary said many attendees would be speaking to legal representatives, and that DAC would cover the legal detail. If there is redress, the clarity of chronology, frequency of client contact or attempted contact, and the mediums used could all be relevant to causation, including when the client should reasonably have challenged the firm.\n\nGary explained that confidence in evidence can affect sampling, adviser-adherence conclusions, PI implications, disciplinary implications and provisioning. He said next-stage implications also depend on whether the firm\u2019s own process is clear enough and whether the evidence can support a defensible causation approach.\n\nHe noted that chronology, frequency and medium of contact can all become relevant if there is redress, because they help determine when a client could or should reasonably have challenged the firm.\n\nGary said TCC had seen real-time scenarios where firms struggle to pull together information from old systems, changed systems, lost records, paper files and unscanned material. That struggle affects confidence in the evidence available and, consequently, the next steps firms choose.\n\nHe said firms may need to consider whether adviser adherence to process creates PI implications or disciplinary implications. They may also need to consider whether their own process is clear enough to support any next-stage decisions.\n\nHe said many firms were now talking about what happens where they have done something, and perhaps many good things, but the work may not match their terms and conditions. That question affects redress, causation and the ability to defend a wider past business review.\n\nGary said firms often attempt to avoid larger reviews by taking a proportionate sample of files and trying to reach a defensible conclusion of no customer detriment. That approach depends on the quality of advice for each individual firm.\n\nHe referred to current discussions around St James\u2019 Place and what he understood was called Mr B. He said many firms would need to speak to legal representatives, and that DAC would cover more detail on the following Wednesday." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "TCC house view", "text": "Garry closed by summarising TCC\u2019s house view. He said the FCA\u2019s findings were surprisingly positive, but because survey results were self-reported and did not show much evidence burden, they may be more positive than the market position.\n\nHe said the FCA had indicated a low redress population, but TCC still expects wealth managers to identify which category each client falls into for each service review period back to the start of 2018 and at least redress the 2% that were not offered a review. He said MI based on practice management system data would not be acceptable as evidence of a review taking place.\n\nTCC\u2019s view was that evidence should include at least updated KYC, recent attitude to risk documentation, and an updated suitability letter. For declines and disengagement, firms need proof of contact for every service review period. Garry added that email is probably one of the most acceptable channels because it is literal proof, and a recording of a conversation is even better.\n\nTCC\u2019s view was that clients who were not offered a review for any period should have their fees refunded for that period. Garry said TCC did not currently believe consequential loss questions are required. For clients with multiple service review periods where they declined or did not engage, fees should be refunded for every period after the second decline of engagement.\n\nHe added that live clients who, on review, had more than one year of decline or disengagement should have to opt in to continue an ongoing advice service. Any client with no-change reviews for more than two years in a row should have suitability advice checked. Garry caveated that these were TCC house views and interpretation of the FCA guidance and letter, not direct statements from the FCA.\n\nGarry also said clients with multiple declined or disengaged periods may need differentiated treatment. Where live clients had more than one year of decline or disengagement, TCC\u2019s view was that they should actively opt in to continue an ongoing advice service.\n\nHe said the FCA\u2019s survey results were self-reported, so the market position may be less positive. His summary also said practice management system MI alone would not be acceptable as evidence of a review taking place.\n\nGarry said his closing points were not direct FCA requirements but TCC\u2019s interpretation of the FCA guidance and letter. He presented them as a useful benchmark for firms considering their own response." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-3-fca-ongoing-advice-services-review-long-term-compliance-and-regtech/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What minimum action did Garry Evans suggest for firms not planning a review?", "acceptedAnswer": { "@type": "Answer", "text": "He recommended at least collecting a meaningful sample review so firms can assess how much of a problem they may have." } }, { "@type": "Question", "name": "Why did Gary Maude prefer the term proportional?", "acceptedAnswer": { "@type": "Answer", "text": "He said firms differ in size, complexity and client numbers, so the work should be proportionate rather than framed only as a minimum." } }, { "@type": "Question", "name": "What evidence did TCC say firms should hold?", "acceptedAnswer": { "@type": "Answer", "text": "TCC\u2019s view was that firms should hold updated KYC, recent attitude to risk documentation, an updated suitability letter, or proof of contact for declines and disengagement." } } ] } ] } ``` ### Part 2: FCA’s ongoing advice services review: the next steps for wealth managers - URL: https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/ - Published: 2025-04-01 - Modified: 2026-10-09 **Topic:** Advice review evidence TCC sets out the evidence firms need for completed reviews, declined engagement and missed reviews, and why MI must support both historic and forward-looking action. #### Key points - The discussion focused on evidence for categorising clients back to the start of 2018. - David Boyhan identified updated KYC and a report letter confirming ongoing suitability as core evidence. - Gary Maude warned that unclear evidence affects redress, governance, SMCR and conduct risk. Part two of TCC’s webinar continued the house view on the FCA’s ongoing advice review findings for wealth managers. Recordsure’s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan. The second instalment focused on the evidence and next steps wealth managers should consider to meet regulatory expectations. #### Garry Evans Garry said evidence appears to be the keyword when considering what the FCA is looking for under Consumer Duty. He asked whether firms were confident they had evidence to categorise clients into three groups for each service review period back to the start of 2018: clients who received a substantive review, clients who were offered a review but declined or did not engage, and clients who were not offered a review. He also asked what evidence firms would use to determine the category for each client and each service period. He noted that over 60% of respondents who answered said they had proper evidence, and asked Gary Maude and David Boyhan to set out TCC’s view on the evidence required and the actions wealth managers should take once clients had been categorised. Garry described the poll as a way to understand whether firms were using documents, practice management system data, something else, or had no evidence at all. He used the responses as a lead into the detailed discussion of what evidence should be required. Garry said that, along with the other changes Consumer Duty had brought, evidence appears to be the keyword. He wanted firms to say whether they could accurately categorise clients for each service review period and whether they were using documents, system data or other evidence. He asked the panel to provide TCC’s house view on what evidence is required and what wealth managers need to do once they have identified which category individual clients fall into for each period back to 2018. #### David Boyhan David said firms need to undertake two pieces of work: a backwards-looking piece and a forward-looking piece. He concentrated on the backwards-looking work and said the FCA expected it to go back to January 2018, when method two requirements came into play. For firms that received the FCA letter in February, he said the FCA had gone back to 2017 but had since been clear that firms only need to go back to 2018. He explained the FCA’s three client groups: clients who received a review, clients who were offered a review but did not engage, and clients who were not engaged or were not invited to engage. For a completed review, TCC’s view is that the minimum evidence should include updated KYC. That might be a note from the relevant advice period saying the client confirmed there were no changes, or evidence of changed circumstances. David also said firms need a report letter confirming ongoing suitability. For clients invited to engage who did not engage, which the FCA put at about 15%, TCC’s view is that documented evidence of the invitation is needed. An email from 2018 or 2019 could show that the client was asked to engage, and chasers would be preferable, but David suggested at least one email as a minimum. For clients with no records of contact or phone calls, he said they fall into the category where the client was not given the opportunity to engage. Firms should categorise clients annually, because a client may miss one review or may receive no reviews for five years in a row. That level of MI is needed so risk departments can decide what action to take for clients who missed one review compared with clients who missed four or five. On the forward-looking piece, David said firms need to consider fair value assessments and ongoing advice processes for disengagement. David described the completed-review bucket as the one every firm wants to be in, and noted that the FCA found the majority, over 80%, in that category. He said the other two buckets still matter because firms must determine where each client sits for each review period. He said evidence should come from the relevant period of advice and should demonstrate whether the client’s circumstances had or had not changed. For disengaged clients, the evidence is more subjective, but firms still need a record that the client was invited to engage. David stressed that annual categorisation matters because the impact of one missed review is different from four or five missed reviews. That MI then helps risk teams decide how to treat each client population. David said the poll results were positive because the majority of respondents believed they had evidence, or at least some evidence, including fact finds and report letters. He then separated the work firms need to undertake into the backwards-looking review and the forward-looking expectations following the FCA’s report. He said the FCA grouped clients into three distinct areas. The first group had received a review. The second had been offered a review but did not engage. The third had not been engaged or invited to engage. When firms go back to 2018, they need to place clients into those categories for each service period. For clients who had not engaged, David said the documented invitation could be an email from 2018 or 2019. For clients with no phone calls or other records of contact, the evidence points to them not having been given the opportunity to engage. David said the easiest category is where there are no records of anybody being contacted and no phone calls. Those clients would fall into the bucket where the client was not given an opportunity to engage. David said it was important to remember the FCA had produced findings from its report and that the backwards-looking piece was distinct from the forward-looking piece. He called the 2018 limit a positive point for firms that had previously received a letter going back to 2017. #### Gary Maude Gary said previous reviews such as TR241 were more prescriptive, but the current landscape allows more scope for missed appointments and taking a fee if circumstances have not changed. He returned to the evidence point and said TCC sees a common problem in Section 166, VREQ, assurance and audit work: advisers are not clear when putting together evidence of what advice has taken place. He said firms often land on partial or unclear evidence, which affects later discussions about redress. Even where firms have done a lot of good work, they need to consider whether it matches their terms and conditions and whether it is enough to justify fees under fair value considerations. Gary said the ripple effect is wide. Firms need to consider production and use of MI, evidence of challenge, senior management discharge of SMCR duties, board duties, root cause analysis, underlying trends, areas that look too good to be true, and adviser, branch or supervisor MI where there is a pattern of clients not needing advice. He concluded that the issue touches conduct risk, systems and controls risk, corporate governance and SMCR. Gary said firms can face contractual and fair value questions where the evidence does not exactly match what the client was told would happen. He said the issue could not be reduced to whether firms had done something or a lot of good things, because the question is whether that evidence is enough. He also referred to challenge in management information: senior management and boards need to demonstrate that they considered root cause, trends and cases where results look too good to be true. Patterns involving advisers, branches or supervisors can indicate wider conduct risk. Gary said the wider issue appears in general advice quality as well as ongoing advice, and that firms often need to demonstrate what advice has taken place. Where evidence is partial or unclear, firms can enter the realms of contractual consideration and fair value consideration. He said this creates implications for redress and for senior management because there needs to be enough evidence of challenge. Firms should look at root cause analysis, underlying trends and MI for advisers, branches and supervisors where there is a history or pattern of clients not needing advice. Gary reminded firms that, in practice, evidence can be partial, unclear or difficult to rely on. That creates a follow-up question: whether what has been done is exactly what the firm told the client it would do, and whether it is enough to justify the fees being paid. Gary contrasted the current position with more prescriptive, black-and-white past reviews. He said the landscape is moving and there is some scope for missed appointments or fees where circumstances have not changed, but the evidence still needs to be clear. He said the common problem is that advisers are not always clear, and firms therefore need clean evidence rather than partial records. The discussion brought together conduct risks, control risks, corporate governance and SMCR, so senior leaders should not assume everything is fine just because a process appears to have been undertaken. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Part 2: FCA\u2019s ongoing advice services review: the next steps for wealth managers", "item": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/", "name": "Part 2: FCA\u2019s ongoing advice services review: the next steps for wealth managers", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-04-01T04:37:50+01:00", "dateModified": "2025-04-01T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-04-01" }, { "@type": "Article", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Part 2: FCA\u2019s ongoing advice services review: the next steps for wealth managers", "datePublished": "2025-04-01T04:37:50+01:00", "dateModified": "2026-10-09T04:50:37+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b5bf68dd0d8b45e599ba5a1cfc20a2e4/thumbnail-1024-2645ae53f2725fdcc6a0aa249cb0f6e16321f1eaffdc7a564786b53c852977b2.png", "description": "Part two of TCC\u2019s webinar focuses on the evidence wealth managers need for ongoing advice reviews and the next steps to consider.", "inLanguage": "en-GB", "articleBody": "TCC sets out the evidence firms need for completed reviews, declined engagement and missed reviews, and why MI must support both historic and forward-looking action.\n\nPart two of TCC\u2019s webinar continued the house view on the FCA\u2019s ongoing advice review findings for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe second instalment focused on the evidence and next steps wealth managers should consider to meet regulatory expectations.\n\nGarry Evans\n\nGarry said evidence appears to be the keyword when considering what the FCA is looking for under Consumer Duty. He asked whether firms were confident they had evidence to categorise clients into three groups for each service review period back to the start of 2018: clients who received a substantive review, clients who were offered a review but declined or did not engage, and clients who were not offered a review.\n\nHe also asked what evidence firms would use to determine the category for each client and each service period. He noted that over 60% of respondents who answered said they had proper evidence, and asked Gary Maude and David Boyhan to set out TCC\u2019s view on the evidence required and the actions wealth managers should take once clients had been categorised.\n\nGarry described the poll as a way to understand whether firms were using documents, practice management system data, something else, or had no evidence at all. He used the responses as a lead into the detailed discussion of what evidence should be required.\n\nGarry said that, along with the other changes Consumer Duty had brought, evidence appears to be the keyword. He wanted firms to say whether they could accurately categorise clients for each service review period and whether they were using documents, system data or other evidence.\n\nHe asked the panel to provide TCC\u2019s house view on what evidence is required and what wealth managers need to do once they have identified which category individual clients fall into for each period back to 2018.\n\nDavid Boyhan\n\nDavid said firms need to undertake two pieces of work: a backwards-looking piece and a forward-looking piece. He concentrated on the backwards-looking work and said the FCA expected it to go back to January 2018, when method two requirements came into play. For firms that received the FCA letter in February, he said the FCA had gone back to 2017 but had since been clear that firms only need to go back to 2018.\n\nHe explained the FCA\u2019s three client groups: clients who received a review, clients who were offered a review but did not engage, and clients who were not engaged or were not invited to engage.\n\nFor a completed review, TCC\u2019s view is that the minimum evidence should include updated KYC. That might be a note from the relevant advice period saying the client confirmed there were no changes, or evidence of changed circumstances. David also said firms need a report letter confirming ongoing suitability.\n\nFor clients invited to engage who did not engage, which the FCA put at about 15%, TCC\u2019s view is that documented evidence of the invitation is needed. An email from 2018 or 2019 could show that the client was asked to engage, and chasers would be preferable, but David suggested at least one email as a minimum.\n\nFor clients with no records of contact or phone calls, he said they fall into the category where the client was not given the opportunity to engage. Firms should categorise clients annually, because a client may miss one review or may receive no reviews for five years in a row. That level of MI is needed so risk departments can decide what action to take for clients who missed one review compared with clients who missed four or five.\n\nOn the forward-looking piece, David said firms need to consider fair value assessments and ongoing advice processes for disengagement.\n\nDavid described the completed-review bucket as the one every firm wants to be in, and noted that the FCA found the majority, over 80%, in that category. He said the other two buckets still matter because firms must determine where each client sits for each review period.\n\nHe said evidence should come from the relevant period of advice and should demonstrate whether the client\u2019s circumstances had or had not changed. For disengaged clients, the evidence is more subjective, but firms still need a record that the client was invited to engage.\n\nDavid stressed that annual categorisation matters because the impact of one missed review is different from four or five missed reviews. That MI then helps risk teams decide how to treat each client population.\n\nDavid said the poll results were positive because the majority of respondents believed they had evidence, or at least some evidence, including fact finds and report letters. He then separated the work firms need to undertake into the backwards-looking review and the forward-looking expectations following the FCA\u2019s report.\n\nHe said the FCA grouped clients into three distinct areas. The first group had received a review. The second had been offered a review but did not engage. The third had not been engaged or invited to engage. When firms go back to 2018, they need to place clients into those categories for each service period.\n\nFor clients who had not engaged, David said the documented invitation could be an email from 2018 or 2019. For clients with no phone calls or other records of contact, the evidence points to them not having been given the opportunity to engage.\n\nDavid said the easiest category is where there are no records of anybody being contacted and no phone calls. Those clients would fall into the bucket where the client was not given an opportunity to engage.\n\nDavid said it was important to remember the FCA had produced findings from its report and that the backwards-looking piece was distinct from the forward-looking piece. He called the 2018 limit a positive point for firms that had previously received a letter going back to 2017.\n\nGary Maude\n\nGary said previous reviews such as TR241 were more prescriptive, but the current landscape allows more scope for missed appointments and taking a fee if circumstances have not changed. He returned to the evidence point and said TCC sees a common problem in Section 166, VREQ, assurance and audit work: advisers are not clear when putting together evidence of what advice has taken place.\n\nHe said firms often land on partial or unclear evidence, which affects later discussions about redress. Even where firms have done a lot of good work, they need to consider whether it matches their terms and conditions and whether it is enough to justify fees under fair value considerations.\n\nGary said the ripple effect is wide. Firms need to consider production and use of MI, evidence of challenge, senior management discharge of SMCR duties, board duties, root cause analysis, underlying trends, areas that look too good to be true, and adviser, branch or supervisor MI where there is a pattern of clients not needing advice.\n\nHe concluded that the issue touches conduct risk, systems and controls risk, corporate governance and SMCR.\n\nGary said firms can face contractual and fair value questions where the evidence does not exactly match what the client was told would happen. He said the issue could not be reduced to whether firms had done something or a lot of good things, because the question is whether that evidence is enough.\n\nHe also referred to challenge in management information: senior management and boards need to demonstrate that they considered root cause, trends and cases where results look too good to be true. Patterns involving advisers, branches or supervisors can indicate wider conduct risk.\n\nGary said the wider issue appears in general advice quality as well as ongoing advice, and that firms often need to demonstrate what advice has taken place. Where evidence is partial or unclear, firms can enter the realms of contractual consideration and fair value consideration.\n\nHe said this creates implications for redress and for senior management because there needs to be enough evidence of challenge. Firms should look at root cause analysis, underlying trends and MI for advisers, branches and supervisors where there is a history or pattern of clients not needing advice.\n\nGary reminded firms that, in practice, evidence can be partial, unclear or difficult to rely on. That creates a follow-up question: whether what has been done is exactly what the firm told the client it would do, and whether it is enough to justify the fees being paid.\n\nGary contrasted the current position with more prescriptive, black-and-white past reviews. He said the landscape is moving and there is some scope for missed appointments or fees where circumstances have not changed, but the evidence still needs to be clear.\n\nHe said the common problem is that advisers are not always clear, and firms therefore need clean evidence rather than partial records. The discussion brought together conduct risks, control risks, corporate governance and SMCR, so senior leaders should not assume everything is fine just because a process appears to have been undertaken.", "wordCount": 1524, "keywords": [ "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice review evidence" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "inLanguage": "en-GB", "text": "Part two of TCC\u2019s webinar continued the house view on the FCA\u2019s ongoing advice review findings for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe second instalment focused on the evidence and next steps wealth managers should consider to meet regulatory expectations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "inLanguage": "en-GB", "headline": "Garry Evans", "text": "Garry said evidence appears to be the keyword when considering what the FCA is looking for under Consumer Duty. He asked whether firms were confident they had evidence to categorise clients into three groups for each service review period back to the start of 2018: clients who received a substantive review, clients who were offered a review but declined or did not engage, and clients who were not offered a review.\n\nHe also asked what evidence firms would use to determine the category for each client and each service period. He noted that over 60% of respondents who answered said they had proper evidence, and asked Gary Maude and David Boyhan to set out TCC\u2019s view on the evidence required and the actions wealth managers should take once clients had been categorised.\n\nGarry described the poll as a way to understand whether firms were using documents, practice management system data, something else, or had no evidence at all. He used the responses as a lead into the detailed discussion of what evidence should be required.\n\nGarry said that, along with the other changes Consumer Duty had brought, evidence appears to be the keyword. He wanted firms to say whether they could accurately categorise clients for each service review period and whether they were using documents, system data or other evidence.\n\nHe asked the panel to provide TCC\u2019s house view on what evidence is required and what wealth managers need to do once they have identified which category individual clients fall into for each period back to 2018." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "inLanguage": "en-GB", "headline": "David Boyhan", "text": "David said firms need to undertake two pieces of work: a backwards-looking piece and a forward-looking piece. He concentrated on the backwards-looking work and said the FCA expected it to go back to January 2018, when method two requirements came into play. For firms that received the FCA letter in February, he said the FCA had gone back to 2017 but had since been clear that firms only need to go back to 2018.\n\nHe explained the FCA\u2019s three client groups: clients who received a review, clients who were offered a review but did not engage, and clients who were not engaged or were not invited to engage.\n\nFor a completed review, TCC\u2019s view is that the minimum evidence should include updated KYC. That might be a note from the relevant advice period saying the client confirmed there were no changes, or evidence of changed circumstances. David also said firms need a report letter confirming ongoing suitability.\n\nFor clients invited to engage who did not engage, which the FCA put at about 15%, TCC\u2019s view is that documented evidence of the invitation is needed. An email from 2018 or 2019 could show that the client was asked to engage, and chasers would be preferable, but David suggested at least one email as a minimum.\n\nFor clients with no records of contact or phone calls, he said they fall into the category where the client was not given the opportunity to engage. Firms should categorise clients annually, because a client may miss one review or may receive no reviews for five years in a row. That level of MI is needed so risk departments can decide what action to take for clients who missed one review compared with clients who missed four or five.\n\nOn the forward-looking piece, David said firms need to consider fair value assessments and ongoing advice processes for disengagement.\n\nDavid described the completed-review bucket as the one every firm wants to be in, and noted that the FCA found the majority, over 80%, in that category. He said the other two buckets still matter because firms must determine where each client sits for each review period.\n\nHe said evidence should come from the relevant period of advice and should demonstrate whether the client\u2019s circumstances had or had not changed. For disengaged clients, the evidence is more subjective, but firms still need a record that the client was invited to engage.\n\nDavid stressed that annual categorisation matters because the impact of one missed review is different from four or five missed reviews. That MI then helps risk teams decide how to treat each client population.\n\nDavid said the poll results were positive because the majority of respondents believed they had evidence, or at least some evidence, including fact finds and report letters. He then separated the work firms need to undertake into the backwards-looking review and the forward-looking expectations following the FCA\u2019s report.\n\nHe said the FCA grouped clients into three distinct areas. The first group had received a review. The second had been offered a review but did not engage. The third had not been engaged or invited to engage. When firms go back to 2018, they need to place clients into those categories for each service period.\n\nFor clients who had not engaged, David said the documented invitation could be an email from 2018 or 2019. For clients with no phone calls or other records of contact, the evidence points to them not having been given the opportunity to engage.\n\nDavid said the easiest category is where there are no records of anybody being contacted and no phone calls. Those clients would fall into the bucket where the client was not given an opportunity to engage.\n\nDavid said it was important to remember the FCA had produced findings from its report and that the backwards-looking piece was distinct from the forward-looking piece. He called the 2018 limit a positive point for firms that had previously received a letter going back to 2017." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "inLanguage": "en-GB", "headline": "Gary Maude", "text": "Gary said previous reviews such as TR241 were more prescriptive, but the current landscape allows more scope for missed appointments and taking a fee if circumstances have not changed. He returned to the evidence point and said TCC sees a common problem in Section 166, VREQ, assurance and audit work: advisers are not clear when putting together evidence of what advice has taken place.\n\nHe said firms often land on partial or unclear evidence, which affects later discussions about redress. Even where firms have done a lot of good work, they need to consider whether it matches their terms and conditions and whether it is enough to justify fees under fair value considerations.\n\nGary said the ripple effect is wide. Firms need to consider production and use of MI, evidence of challenge, senior management discharge of SMCR duties, board duties, root cause analysis, underlying trends, areas that look too good to be true, and adviser, branch or supervisor MI where there is a pattern of clients not needing advice.\n\nHe concluded that the issue touches conduct risk, systems and controls risk, corporate governance and SMCR.\n\nGary said firms can face contractual and fair value questions where the evidence does not exactly match what the client was told would happen. He said the issue could not be reduced to whether firms had done something or a lot of good things, because the question is whether that evidence is enough.\n\nHe also referred to challenge in management information: senior management and boards need to demonstrate that they considered root cause, trends and cases where results look too good to be true. Patterns involving advisers, branches or supervisors can indicate wider conduct risk.\n\nGary said the wider issue appears in general advice quality as well as ongoing advice, and that firms often need to demonstrate what advice has taken place. Where evidence is partial or unclear, firms can enter the realms of contractual consideration and fair value consideration.\n\nHe said this creates implications for redress and for senior management because there needs to be enough evidence of challenge. Firms should look at root cause analysis, underlying trends and MI for advisers, branches and supervisors where there is a history or pattern of clients not needing advice.\n\nGary reminded firms that, in practice, evidence can be partial, unclear or difficult to rely on. That creates a follow-up question: whether what has been done is exactly what the firm told the client it would do, and whether it is enough to justify the fees being paid.\n\nGary contrasted the current position with more prescriptive, black-and-white past reviews. He said the landscape is moving and there is some scope for missed appointments or fees where circumstances have not changed, but the evidence still needs to be clear.\n\nHe said the common problem is that advisers are not always clear, and firms therefore need clean evidence rather than partial records. The discussion brought together conduct risks, control risks, corporate governance and SMCR, so senior leaders should not assume everything is fine just because a process appears to have been undertaken." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-2-fcas-ongoing-advice-services-review-the-evidence-and-next-steps-for-wealth-managers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How far back did David Boyhan say firms should review?", "acceptedAnswer": { "@type": "Answer", "text": "He said the FCA had been clear that firms need to go back to 2018." } }, { "@type": "Question", "name": "What evidence did TCC identify for completed reviews?", "acceptedAnswer": { "@type": "Answer", "text": "TCC\u2019s view was that firms need updated KYC and a report letter confirming ongoing suitability." } }, { "@type": "Question", "name": "What evidence did TCC identify for clients who did not engage?", "acceptedAnswer": { "@type": "Answer", "text": "TCC\u2019s view was that firms need documented evidence that the client was invited to engage, with at least one email suggested as a minimum." } } ] } ] } ``` ### Part 1: FCA’s ongoing advice services review: the scope - URL: https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/ - Published: 2025-03-31 - Modified: 2026-10-09 **Topic:** Ongoing advice scope TCC interprets the FCA’s ongoing advice review findings through three client categories and the evidence wealth managers need to support each one. #### Key points - The FCA survey identified clients with completed reviews, declined or disengaged reviews, and no review offer. - TCC’s view is that the FCA letter did not remove the expectation of a past business review. - Gary Maude warned that self-reported, tick-box data may not show the quality of client engagement. TCC held a webinar, ‘What risks remain for firms following the FCA’s ongoing advice review findings?’, to share its house view on the regulator’s communication for wealth managers. Recordsure’s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan. The first part covered the parameters of the FCA’s ongoing advice review. Garry introduced the session as a discussion of the results of the ongoing service advice review completed by the FCA and the implications for the wealth management sector. #### Garry Evans Garry explained that the webinar would give TCC’s view on what the FCA letter means, what wealth managers need to do in BAU checking of ongoing advice services, and whether any past business review is needed. He used “past business review” without connotations of Section166 or major redress programmes, describing it simply as a review of what happened in the past. He said many wealth management organisations reacted to the FCA’s letter with relief, and some contacts had shifted from allocating a significant provision and setting up projects to changing processes and reviewing historic books, almost to doing nothing. Garry cautioned that although TCC believes the FCA indicated the redress population may be small, the letter did not remove the expectation to do a past business review. The FCA’s survey of the top 22 wealth management firms concluded that only 2% of clients had not been offered an annual review, which Garry described as the true redress population. He also noted that a further 15% of clients either declined to review or were not engaged with offers of a review, suggesting they may be in the wrong service but are less likely to require redress. The vast majority, 83% of clients, had completed an annual review process. Garry framed the purpose as covering both BAU checking and what, if anything, needs to happen in terms of a past business review. He said firms could replace that term with a more comfortable one, but should still consider the review of what has happened in the past. He said the FCA’s letter changed some firms’ servicing plans, moving them away from provision and historic-book projects. TCC’s view, however, was that relief should not be read as removing the burden of expectation. He welcomed attendees to the TCC webinar and said the purpose was to provide experienced feedback on the FCA results for the wealth management sector. He noted that David Boyhan and Gary Maude had many years of relevant consulting and practitioner experience across financial services sectors. #### Gary Maude Gary Maude said TCC viewed the survey outcome as positive, while recognising that compliance and risk professionals may have healthy scepticism about the political climate or implicit messages in the FCA’s narrative. He reminded attendees that he and David Boyhan have practitioner experience: Gary has been a Compliance Risk Director and CRO at several firms, while David is an ex-regulator who has supervised over 200 firms and remains in contact with FCA colleagues with first-hand knowledge of relevant risks. Gary focused on the FCA’s narrative that firms need to evidence that they have delivered all services required by contracts or by FCA rules. He said the word “evidence” brings contract law, Consumer Duty fair value and other considerations into scope. He also highlighted the FCA’s statement that firms should consider whether it is appropriate to proactively contact customers to assess if any harm has been caused by identified problems or failings. TCC could not cover every risk in the webinar and was holding a two-hour roundtable in London with DAC to explore legal and contractual points. Gary noted that the FCA outcome was based heavily on what firms told it and was a black-and-white exercise: whether firms had or had not made contact with customers. That did not mean the work had been done well. He was concerned about reliance on adviser attestation feeding management information without exploring the quality of client engagement. He said any review needs a long-term view, going back probably to 2018. In summary, he described the FCA outcome as qualitative, based on a tick-box mentality of whether something had been done, and warned that the quality and consistency of responding firms’ work would differ markedly. Gary said the FCA update should be read almost verbatim: firms need to know whether they can evidence that they delivered all services required by contract and FCA rules. He described that as a holistic narrative and warned that contract law, Consumer Duty fair value and customer harm all come into the equation. He also said different stakeholders would need to look at the risks, and that the quality aspect of client engagements could not be covered only by black-and-white data about contact. The risk lay in the difference between saying something happened and showing it was done well. Gary said he wanted to reassure compliance and risk professionals that the panel had direct experience to inform the discussion. He also reminded attendees that the next stage would include consideration of whether firms should contact customers proactively where identified problems or failings may have caused harm. He said some people might think the issue had not gone away, despite the positive survey result. The point for firms was not only whether contact happened, but whether they could speak to the standard and quality of what happened. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Part 1: FCA\u2019s ongoing advice services review: the scope", "item": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/", "name": "Part 1: FCA\u2019s ongoing advice services review: the scope", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-31T11:23:59+01:00", "dateModified": "2025-03-31T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-03-31" }, { "@type": "Article", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Part 1: FCA\u2019s ongoing advice services review: the scope", "datePublished": "2025-03-31T11:23:59+01:00", "dateModified": "2026-10-09T04:50:36+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/636ab51f55b04bdf8ceda5a2c4ced0f6/thumbnail-1024-cb6367bd8c5ed58d860d11c7a4c1bb04616aec5dd7bbaec10847f3cf1251ef84.jpg", "description": "Recordsure joins TCC regulatory experts to examine the FCA\u2019s ongoing advice review, the survey categories and the evidence wealth managers may need.", "inLanguage": "en-GB", "articleBody": "TCC interprets the FCA\u2019s ongoing advice review findings through three client categories and the evidence wealth managers need to support each one.\n\nTCC held a webinar, \u2018What risks remain for firms following the FCA\u2019s ongoing advice review findings?\u2019, to share its house view on the regulator\u2019s communication for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe first part covered the parameters of the FCA\u2019s ongoing advice review. Garry introduced the session as a discussion of the results of the ongoing service advice review completed by the FCA and the implications for the wealth management sector.\n\nGarry Evans\n\nGarry explained that the webinar would give TCC\u2019s view on what the FCA letter means, what wealth managers need to do in BAU checking of ongoing advice services, and whether any past business review is needed. He used \u201cpast business review\u201d without connotations of Section166 or major redress programmes, describing it simply as a review of what happened in the past.\n\nHe said many wealth management organisations reacted to the FCA\u2019s letter with relief, and some contacts had shifted from allocating a significant provision and setting up projects to changing processes and reviewing historic books, almost to doing nothing.\n\nGarry cautioned that although TCC believes the FCA indicated the redress population may be small, the letter did not remove the expectation to do a past business review. The FCA\u2019s survey of the top 22 wealth management firms concluded that only 2% of clients had not been offered an annual review, which Garry described as the true redress population.\n\nHe also noted that a further 15% of clients either declined to review or were not engaged with offers of a review, suggesting they may be in the wrong service but are less likely to require redress. The vast majority, 83% of clients, had completed an annual review process.\n\nGarry framed the purpose as covering both BAU checking and what, if anything, needs to happen in terms of a past business review. He said firms could replace that term with a more comfortable one, but should still consider the review of what has happened in the past.\n\nHe said the FCA\u2019s letter changed some firms\u2019 servicing plans, moving them away from provision and historic-book projects. TCC\u2019s view, however, was that relief should not be read as removing the burden of expectation.\n\nHe welcomed attendees to the TCC webinar and said the purpose was to provide experienced feedback on the FCA results for the wealth management sector. He noted that David Boyhan and Gary Maude had many years of relevant consulting and practitioner experience across financial services sectors.\n\nGary Maude\n\nGary Maude said TCC viewed the survey outcome as positive, while recognising that compliance and risk professionals may have healthy scepticism about the political climate or implicit messages in the FCA\u2019s narrative.\n\nHe reminded attendees that he and David Boyhan have practitioner experience: Gary has been a Compliance Risk Director and CRO at several firms, while David is an ex-regulator who has supervised over 200 firms and remains in contact with FCA colleagues with first-hand knowledge of relevant risks.\n\nGary focused on the FCA\u2019s narrative that firms need to evidence that they have delivered all services required by contracts or by FCA rules. He said the word \u201cevidence\u201d brings contract law, Consumer Duty fair value and other considerations into scope.\n\nHe also highlighted the FCA\u2019s statement that firms should consider whether it is appropriate to proactively contact customers to assess if any harm has been caused by identified problems or failings. TCC could not cover every risk in the webinar and was holding a two-hour roundtable in London with DAC to explore legal and contractual points.\n\nGary noted that the FCA outcome was based heavily on what firms told it and was a black-and-white exercise: whether firms had or had not made contact with customers. That did not mean the work had been done well. He was concerned about reliance on adviser attestation feeding management information without exploring the quality of client engagement.\n\nHe said any review needs a long-term view, going back probably to 2018. In summary, he described the FCA outcome as qualitative, based on a tick-box mentality of whether something had been done, and warned that the quality and consistency of responding firms\u2019 work would differ markedly.\n\nGary said the FCA update should be read almost verbatim: firms need to know whether they can evidence that they delivered all services required by contract and FCA rules. He described that as a holistic narrative and warned that contract law, Consumer Duty fair value and customer harm all come into the equation.\n\nHe also said different stakeholders would need to look at the risks, and that the quality aspect of client engagements could not be covered only by black-and-white data about contact. The risk lay in the difference between saying something happened and showing it was done well.\n\nGary said he wanted to reassure compliance and risk professionals that the panel had direct experience to inform the discussion. He also reminded attendees that the next stage would include consideration of whether firms should contact customers proactively where identified problems or failings may have caused harm.\n\nHe said some people might think the issue had not gone away, despite the positive survey result. The point for firms was not only whether contact happened, but whether they could speak to the standard and quality of what happened.", "wordCount": 915, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice scope" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "inLanguage": "en-GB", "text": "TCC held a webinar, \u2018What risks remain for firms following the FCA\u2019s ongoing advice review findings?\u2019, to share its house view on the regulator\u2019s communication for wealth managers. Recordsure\u2019s Chief Product and Chief Commercial Officer, Garry Evans, was joined by TCC regulatory experts Gary Maude and David Boyhan.\n\nThe first part covered the parameters of the FCA\u2019s ongoing advice review. Garry introduced the session as a discussion of the results of the ongoing service advice review completed by the FCA and the implications for the wealth management sector." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "inLanguage": "en-GB", "headline": "Garry Evans", "text": "Garry explained that the webinar would give TCC\u2019s view on what the FCA letter means, what wealth managers need to do in BAU checking of ongoing advice services, and whether any past business review is needed. He used \u201cpast business review\u201d without connotations of Section166 or major redress programmes, describing it simply as a review of what happened in the past.\n\nHe said many wealth management organisations reacted to the FCA\u2019s letter with relief, and some contacts had shifted from allocating a significant provision and setting up projects to changing processes and reviewing historic books, almost to doing nothing.\n\nGarry cautioned that although TCC believes the FCA indicated the redress population may be small, the letter did not remove the expectation to do a past business review. The FCA\u2019s survey of the top 22 wealth management firms concluded that only 2% of clients had not been offered an annual review, which Garry described as the true redress population.\n\nHe also noted that a further 15% of clients either declined to review or were not engaged with offers of a review, suggesting they may be in the wrong service but are less likely to require redress. The vast majority, 83% of clients, had completed an annual review process.\n\nGarry framed the purpose as covering both BAU checking and what, if anything, needs to happen in terms of a past business review. He said firms could replace that term with a more comfortable one, but should still consider the review of what has happened in the past.\n\nHe said the FCA\u2019s letter changed some firms\u2019 servicing plans, moving them away from provision and historic-book projects. TCC\u2019s view, however, was that relief should not be read as removing the burden of expectation.\n\nHe welcomed attendees to the TCC webinar and said the purpose was to provide experienced feedback on the FCA results for the wealth management sector. He noted that David Boyhan and Gary Maude had many years of relevant consulting and practitioner experience across financial services sectors." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "inLanguage": "en-GB", "headline": "Gary Maude", "text": "Gary Maude said TCC viewed the survey outcome as positive, while recognising that compliance and risk professionals may have healthy scepticism about the political climate or implicit messages in the FCA\u2019s narrative.\n\nHe reminded attendees that he and David Boyhan have practitioner experience: Gary has been a Compliance Risk Director and CRO at several firms, while David is an ex-regulator who has supervised over 200 firms and remains in contact with FCA colleagues with first-hand knowledge of relevant risks.\n\nGary focused on the FCA\u2019s narrative that firms need to evidence that they have delivered all services required by contracts or by FCA rules. He said the word \u201cevidence\u201d brings contract law, Consumer Duty fair value and other considerations into scope.\n\nHe also highlighted the FCA\u2019s statement that firms should consider whether it is appropriate to proactively contact customers to assess if any harm has been caused by identified problems or failings. TCC could not cover every risk in the webinar and was holding a two-hour roundtable in London with DAC to explore legal and contractual points.\n\nGary noted that the FCA outcome was based heavily on what firms told it and was a black-and-white exercise: whether firms had or had not made contact with customers. That did not mean the work had been done well. He was concerned about reliance on adviser attestation feeding management information without exploring the quality of client engagement.\n\nHe said any review needs a long-term view, going back probably to 2018. In summary, he described the FCA outcome as qualitative, based on a tick-box mentality of whether something had been done, and warned that the quality and consistency of responding firms\u2019 work would differ markedly.\n\nGary said the FCA update should be read almost verbatim: firms need to know whether they can evidence that they delivered all services required by contract and FCA rules. He described that as a holistic narrative and warned that contract law, Consumer Duty fair value and customer harm all come into the equation.\n\nHe also said different stakeholders would need to look at the risks, and that the quality aspect of client engagements could not be covered only by black-and-white data about contact. The risk lay in the difference between saying something happened and showing it was done well.\n\nGary said he wanted to reassure compliance and risk professionals that the panel had direct experience to inform the discussion. He also reminded attendees that the next stage would include consideration of whether firms should contact customers proactively where identified problems or failings may have caused harm.\n\nHe said some people might think the issue had not gone away, despite the positive survey result. The point for firms was not only whether contact happened, but whether they could speak to the standard and quality of what happened." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/part-1-fcas-ongoing-advice-services-review-the-scope/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA survey find about clients not offered annual reviews?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA survey of the top 22 wealth management firms found that 2% of clients had not been offered an annual review." } }, { "@type": "Question", "name": "What other client category did the webinar identify?", "acceptedAnswer": { "@type": "Answer", "text": "A further 15% of clients either declined to review or were not engaged with offers of a review." } }, { "@type": "Question", "name": "What evidence issue did Gary Maude highlight?", "acceptedAnswer": { "@type": "Answer", "text": "He said firms need to evidence services required by contracts or FCA rules, and warned that tick-box evidence of contact may not show the quality of client engagement." } } ] } ] } ``` ### FCA ongoing advice review presents better than expected findings - URL: https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/ - Published: 2025-03-27 - Modified: 2026-10-09 **Topic:** Ongoing advice evidence The FCA’s ongoing advice review gave the sector encouraging self-reported results, but firms should avoid complacency. Evidence quality, client categorisation, management information and sustainable review practices remain central. #### Key points - The FCA reported that 83% of suitability reviews were conducted as required, based on collated data. - TCC polling found 72% of wealth managers thought the outcome was better than expected. - Only 38% said they had all the evidence needed to distinguish which clients received their review. - Firms should review interactions back to 2018 and strengthen future evidence, MI and disengagement practices. The FCA recently reported that 83% of suitability reviews were conducted as required, according to data it collated for its ongoing advice review. TCC, Recordsure’s sister compliance consultancy company, sought the opinion of wealth managers on these results. The poll found that 72% stated the result was better than expected, 26% indicated that it was in the approximate region they expected, and 2% thought it was worse than expected. Although initially viewed as a positive result for the sector, the regulator’s findings should be treated with caution because they are based on self-reported information rather than a qualitative evaluation of individual client reviews. Work undertaken by TCC’s experts has highlighted concerns about reliance on adviser attestation in particular. The quality and consistency of what responding firms have done is likely to differ markedly, so relief may be premature. #### Evidence to categorise clients The regulator has made clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews. TCC polled wealth managers on this topic. The results showed that 38% declared they have all the evidence to distinguish which clients received their review, 58% attested to having just some of the evidence, and 4% reported having none at all. The important question is what firms should do now to ensure they have the evidence in place that the FCA expects to see. TCC’s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan. #### Reflect on the past, secure the future TCC’s poll also asked wealth managers about the quality of evidence they had on file. It found that 62% confirmed they had the relevant fact-find and evidential report backed up in their practice management system, 23% reported a checkmark in the system to indicate that the review had been received by the client, and 15% responded that their evidence was in a different format. The FCA’s review categorised ongoing advice clients into three areas, and the evidence required for each group would vary. - **#1 Clients that received their review as anticipated** - **#2 Clients that did not engage** - **#3 Clients that weren’t contacted for their review** Wealth managers should be reviewing client interactions dating back to 2018. #### The ripple effect TCC’s experts have observed the ripple effect and expect it to be extensive, particularly in the production and use of management information. Senior managers need to demonstrate compliance with the senior managers and certification regime alongside their board duties, providing sufficient evidence to confirm that these matters have been thoroughly considered. #### Proportional expectation Firms will be expected not only to carry out backwards-looking work back to 2018, but also to integrate sustainable practices for the long term. This includes closely examining fair value assessments, ensuring management information is reviewed regularly with appropriate actions taken, and implementing a thorough disengagement strategy for clients who meet such requirements. Firms need confidence that client data is strong enough to mitigate the need for a past business review in the future. Clarity of chronology and frequency of client contact, or attempted client contact, along with notes on the medium used, are vital components. Recordsure technology can enhance suitability reviews by integrating AI into workflow. It automates document checks, notifying firms only when evidence is missing so advisers can intervene. Wealth managers can use Recordsure technology to record, store and analyse client interactions and create an authoritative evidence path. #### Objective expertise Independent expertise can help ongoing advice providers show commitment by conducting annual client reviews backed by thorough documentation. Firms should consider impartial advice and support from compliance specialists such as TCC to obtain analysis, strategic guidance, cost-effective outsourcing solutions for projects and agile resourcing to expand teams with interim resource. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA ongoing advice review presents better than expected findings", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/", "name": "FCA ongoing advice review presents better than expected findings", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-27T17:32:37+00:00", "dateModified": "2025-07-04T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-07-04" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA ongoing advice review presents better than expected findings", "datePublished": "2025-03-27T17:32:37+00:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1b6e0bf0eb354bfaa7e84b8c262b5d02/thumbnail-1024-2f54783a02a4f4b04ea27c3c1e9955fcd6f904d86594d06e34d5bc46c0bc2fbb.jpg", "description": "The FCA\u2019s ongoing advice findings were better than many wealth managers expected, but firms still need evidence that reviews were completed, recorded and acted on.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s ongoing advice review gave the sector encouraging self-reported results, but firms should avoid complacency. Evidence quality, client categorisation, management information and sustainable review practices remain central.\n\nThe FCA recently reported that 83% of suitability reviews were conducted as required, according to data it collated for its ongoing advice review. TCC, Recordsure\u2019s sister compliance consultancy company, sought the opinion of wealth managers on these results.\n\nThe poll found that 72% stated the result was better than expected, 26% indicated that it was in the approximate region they expected, and 2% thought it was worse than expected.\n\nAlthough initially viewed as a positive result for the sector, the regulator\u2019s findings should be treated with caution because they are based on self-reported information rather than a qualitative evaluation of individual client reviews. Work undertaken by TCC\u2019s experts has highlighted concerns about reliance on adviser attestation in particular. The quality and consistency of what responding firms have done is likely to differ markedly, so relief may be premature.\n\nEvidence to categorise clients\n\nThe regulator has made clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews.\n\nTCC polled wealth managers on this topic. The results showed that 38% declared they have all the evidence to distinguish which clients received their review, 58% attested to having just some of the evidence, and 4% reported having none at all.\n\nThe important question is what firms should do now to ensure they have the evidence in place that the FCA expects to see. TCC\u2019s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan.\n\nReflect on the past, secure the future\n\nTCC\u2019s poll also asked wealth managers about the quality of evidence they had on file. It found that 62% confirmed they had the relevant fact-find and evidential report backed up in their practice management system, 23% reported a checkmark in the system to indicate that the review had been received by the client, and 15% responded that their evidence was in a different format.\n\nThe FCA\u2019s review categorised ongoing advice clients into three areas, and the evidence required for each group would vary.\n\n\u2022 #1 Clients that received their review as anticipated\n\u2022 #2 Clients that did not engage\n\u2022 #3 Clients that weren\u2019t contacted for their review\n\nWealth managers should be reviewing client interactions dating back to 2018.\n\nThe ripple effect\n\nTCC\u2019s experts have observed the ripple effect and expect it to be extensive, particularly in the production and use of management information. Senior managers need to demonstrate compliance with the senior managers and certification regime alongside their board duties, providing sufficient evidence to confirm that these matters have been thoroughly considered.\n\nProportional expectation\n\nFirms will be expected not only to carry out backwards-looking work back to 2018, but also to integrate sustainable practices for the long term. This includes closely examining fair value assessments, ensuring management information is reviewed regularly with appropriate actions taken, and implementing a thorough disengagement strategy for clients who meet such requirements.\n\nFirms need confidence that client data is strong enough to mitigate the need for a past business review in the future. Clarity of chronology and frequency of client contact, or attempted client contact, along with notes on the medium used, are vital components.\n\nRecordsure technology can enhance suitability reviews by integrating AI into workflow. It automates document checks, notifying firms only when evidence is missing so advisers can intervene. Wealth managers can use Recordsure technology to record, store and analyse client interactions and create an authoritative evidence path.\n\nObjective expertise\n\nIndependent expertise can help ongoing advice providers show commitment by conducting annual client reviews backed by thorough documentation. 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TCC, Recordsure\u2019s sister compliance consultancy company, sought the opinion of wealth managers on these results.\n\nThe poll found that 72% stated the result was better than expected, 26% indicated that it was in the approximate region they expected, and 2% thought it was worse than expected.\n\nAlthough initially viewed as a positive result for the sector, the regulator\u2019s findings should be treated with caution because they are based on self-reported information rather than a qualitative evaluation of individual client reviews. Work undertaken by TCC\u2019s experts has highlighted concerns about reliance on adviser attestation in particular. The quality and consistency of what responding firms have done is likely to differ markedly, so relief may be premature." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Evidence to categorise clients", "text": "The regulator has made clear that it will revisit this topic later in the year, with the expectation that firms have evidence on file to substantiate the thoroughness of their suitability reviews.\n\nTCC polled wealth managers on this topic. The results showed that 38% declared they have all the evidence to distinguish which clients received their review, 58% attested to having just some of the evidence, and 4% reported having none at all.\n\nThe important question is what firms should do now to ensure they have the evidence in place that the FCA expects to see. TCC\u2019s regulatory experts advise a twofold approach: a backwards-looking review exercise and a forward-looking plan." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Reflect on the past, secure the future", "text": "TCC\u2019s poll also asked wealth managers about the quality of evidence they had on file. It found that 62% confirmed they had the relevant fact-find and evidential report backed up in their practice management system, 23% reported a checkmark in the system to indicate that the review had been received by the client, and 15% responded that their evidence was in a different format.\n\nThe FCA\u2019s review categorised ongoing advice clients into three areas, and the evidence required for each group would vary.\n\n\u2022 #1 Clients that received their review as anticipated\n\u2022 #2 Clients that did not engage\n\u2022 #3 Clients that weren\u2019t contacted for their review\n\nWealth managers should be reviewing client interactions dating back to 2018." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "inLanguage": "en-GB", "headline": "The ripple effect", "text": "TCC\u2019s experts have observed the ripple effect and expect it to be extensive, particularly in the production and use of management information. 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This includes closely examining fair value assessments, ensuring management information is reviewed regularly with appropriate actions taken, and implementing a thorough disengagement strategy for clients who meet such requirements.\n\nFirms need confidence that client data is strong enough to mitigate the need for a past business review in the future. Clarity of chronology and frequency of client contact, or attempted client contact, along with notes on the medium used, are vital components.\n\nRecordsure technology can enhance suitability reviews by integrating AI into workflow. It automates document checks, notifying firms only when evidence is missing so advisers can intervene. Wealth managers can use Recordsure technology to record, store and analyse client interactions and create an authoritative evidence path." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Objective expertise", "text": "Independent expertise can help ongoing advice providers show commitment by conducting annual client reviews backed by thorough documentation. Firms should consider impartial advice and support from compliance specialists such as TCC to obtain analysis, strategic guidance, cost-effective outsourcing solutions for projects and agile resourcing to expand teams with interim resource." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-presents-better-than-expected-findings/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA report about suitability reviews?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA reported that 83% of suitability reviews were conducted as required, based on data collated for its ongoing advice review." } }, { "@type": "Question", "name": "Why should firms treat the findings with caution?", "acceptedAnswer": { "@type": "Answer", "text": "The findings are based on self-reported information rather than qualitative evaluation of individual client reviews, and evidence quality may vary significantly between firms." } }, { "@type": "Question", "name": "What evidence gap did TCC\u2019s polling identify?", "acceptedAnswer": { "@type": "Answer", "text": "Only 38% of wealth managers said they had all the evidence needed to distinguish which clients received their review, while 58% had some evidence and 4% had none." } }, { "@type": "Question", "name": "What should wealth managers review?", "acceptedAnswer": { "@type": "Answer", "text": "They should review client interactions dating back to 2018 and create a forward-looking plan for stronger evidence, management information and disengagement practices." } } ] } ] } ``` ### What risks remain for firms following the FCA’s ongoing advice review findings? - URL: https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/ - Published: 2025-03-25 - Modified: 2026-10-09 **Topic:** Ongoing advice risk Recordsure’s webinar with TCC regulatory experts sets out the remaining risks after the FCA’s ongoing advice review findings, with focus on evidence, review quality, chronology, backward-looking assessment, future preparation and disengagement strategies. #### Key points - The webinar brought together Recordsure and TCC regulatory specialists to discuss the FCA findings. - Key topics included evidence for ongoing advice services, review quality and chronology clarity. - Backward-looking review, future preparation, disengagement strategies and wider ripple effects were also covered. - Recordsure technology can automate document checks and notify teams when evidence is missing. On Wednesday 19th March, Recordsure’s Chief Commercial Officer and Chief Product Officer, Garry Evans, was joined by TCC Group regulatory experts Gary Maude and David Boyhan for a house view on the latest FCA ongoing advice review findings. The session considered what firms need to evidence when delivering ongoing advice services and how suitability reviews can be strengthened through technology and regulatory expertise. #### Webinar topics The webinar covered how to deliver ongoing advice services with appropriate evidence, the quality of ongoing advice reviews, the clarity of chronology, the importance of a backward-looking review, preparation for the future, disengagement strategies and the ripple effect of the FCA’s findings. Individual question-and-script parts covered the scope of the FCA’s ongoing advice services review, next steps for wealth managers, and long-term compliance in wealth management. #### Using AI in suitability reviews Firms can enhance suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks and notifies teams when evidence is missing, allowing advisers to intervene where needed. This improves a firm’s ability to provide reliable and compliant ongoing advice reviews in response to regulatory expectations. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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quality, chronology, backward-looking checks and the risks firms should prepare for.", "inLanguage": "en-GB", "articleBody": "Recordsure\u2019s webinar with TCC regulatory experts sets out the remaining risks after the FCA\u2019s ongoing advice review findings, with focus on evidence, review quality, chronology, backward-looking assessment, future preparation and disengagement strategies.\n\nOn Wednesday 19th March, Recordsure\u2019s Chief Commercial Officer and Chief Product Officer, Garry Evans, was joined by TCC Group regulatory experts Gary Maude and David Boyhan for a house view on the latest FCA ongoing advice review findings.\n\nThe session considered what firms need to evidence when delivering ongoing advice services and how suitability reviews can be strengthened through technology and regulatory expertise.\n\nWebinar topics\n\nThe webinar covered how to deliver ongoing advice services with appropriate evidence, the quality of ongoing advice reviews, the clarity of chronology, the importance of a backward-looking review, preparation for the future, disengagement strategies and the ripple effect of the FCA\u2019s findings.\n\nIndividual question-and-script parts covered the scope of the FCA\u2019s ongoing advice services review, next steps for wealth managers, and long-term compliance in wealth management.\n\nUsing AI in suitability reviews\n\nFirms can enhance suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks and notifies teams when evidence is missing, allowing advisers to intervene where needed.\n\nThis improves a firm\u2019s ability to provide reliable and compliant ongoing advice reviews in response to regulatory expectations.", "wordCount": 215, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice risk" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#webpage" }, "inLanguage": "en-GB", "text": "On Wednesday 19th March, Recordsure\u2019s Chief Commercial Officer and Chief Product Officer, Garry Evans, was joined by TCC Group regulatory experts Gary Maude and David Boyhan for a house view on the latest FCA ongoing advice review findings.\n\nThe session considered what firms need to evidence when delivering ongoing advice services and how suitability reviews can be strengthened through technology and regulatory expertise." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Webinar topics", "text": "The webinar covered how to deliver ongoing advice services with appropriate evidence, the quality of ongoing advice reviews, the clarity of chronology, the importance of a backward-looking review, preparation for the future, disengagement strategies and the ripple effect of the FCA\u2019s findings.\n\nIndividual question-and-script parts covered the scope of the FCA\u2019s ongoing advice services review, next steps for wealth managers, and long-term compliance in wealth management." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Using AI in suitability reviews", "text": "Firms can enhance suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks and notifies teams when evidence is missing, allowing advisers to intervene where needed.\n\nThis improves a firm\u2019s ability to provide reliable and compliant ongoing advice reviews in response to regulatory expectations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/risks-remaining-following-fca-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who took part in the webinar?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans from Recordsure was joined by TCC Group regulatory experts Gary Maude and David Boyhan." } }, { "@type": "Question", "name": "What did the webinar cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covered evidence for ongoing advice services, review quality, chronology, backward-looking review, future preparation, disengagement strategies and the ripple effect." } }, { "@type": "Question", "name": "How does Recordsure technology support suitability reviews?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology automates document checks and notifies teams when evidence is missing so advisers can intervene." } } ] } ] } ``` ### Recordsure technology now available in the Microsoft Azure Marketplace - URL: https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/ - Published: 2025-03-19 - Modified: 2026-10-09 **Topic:** Azure Marketplace Recordsure technology is now available in Microsoft Azure Marketplace. Customers can access Recordsure’s conversation and document analytics through Azure, including the first transactable Capture solution and options for customised private offers. #### Key points - Recordsure announced availability of its technology in Microsoft Azure Marketplace. - Azure customers can use the marketplace for streamlined deployment and management. - Capture is Recordsure’s first transactable product launched in Azure Marketplace. - Customers can request Azure Private Offers for Conversation Intelligence and Document Intelligence configurations. - Recordsure says its technology captures, reviews and analyses 100% of customer interactions. Microsoft Azure customers worldwide now have access to Recordsure technology: conversation and document analytics that capture, review and analyse 100% of customer interactions for compliance management and evidencing. Customers can take advantage of Azure’s scalability, reliability and agility to drive application development and shape business strategies. Recordsure announced the availability of its technology in the Microsoft [Azure Marketplace](https://azure.microsoft.com/en-us/marketplace/), an online store for applications and services for use on Azure. Recordsure customers can now use the Azure cloud platform for streamlined deployment and management. #### Access through Azure Marketplace Recordsure technology offers rapid-to-deploy solutions for financial services, regulated industries and the public sector. Recordsure’s technology experts and data scientists have built and developed the market-proven technology for over a decade to help firms improve operational efficiencies and oversight with less resource, while embedding process and regulatory compliance. Joe Norburn, CEO at Recordsure, said the Microsoft Azure Marketplace opens a new avenue for customers to access and deploy Recordsure technology. He said it contributes to customers’ Microsoft Azure Consumption Commitment, known as MACC, while enabling access to discounts across the Azure estate. Recordsure’s Capture solution is the firm’s first transactable product launched in Azure Marketplace. Customers can also use Azure Marketplace to learn more about and access customised configurations from Recordsure’s Conversation Intelligence and Document Intelligence suites by requesting an Azure Private Offer for their chosen solution. #### Microsoft and Recordsure comments Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp, welcomed Recordsure technology to Azure Marketplace. He said global customers can find, try and buy from among thousands of partner solutions, and that Azure Marketplace and trusted partners such as Recordsure help customers increase efficiency, buy confidently and spend smarter. The Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. It helps connect companies seeking cloud-based solutions with partners that have developed solutions ready to use. Joe Norburn added that being part of Microsoft Azure Marketplace means more organisations can benefit from Recordsure technology to drive compliance and best practice, increase team effectiveness and productivity, and deliver better customer outcomes. #### Recordsure technology [Recordsure technology](/) offers conversation and document analytics to capture, review and analyse 100% of customer interactions with speed and accuracy. With over 13 years of delivery experience and a background in compliance, the ready-to-use technology is trusted by tier 1 banks, financial services firms, the UK government and regulators. #### Supporting sources - [Azure Marketplace](https://azure.microsoft.com/en-us/marketplace/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure technology now available in the Microsoft Azure Marketplace", "item": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage", "url": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/", "name": "Recordsure technology now available in the Microsoft Azure Marketplace", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-19T16:11:40+00:00", "dateModified": "2025-06-04T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-06-04" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure technology now available in the Microsoft Azure Marketplace", "datePublished": "2025-03-19T16:11:40+00:00", "dateModified": "2026-10-09T04:50:31+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c694f1af332c4fff80145a1759e1a687/thumbnail-1024-c4b72608a6365e18fb0d3d3f33419b9db72ceef38623a63625097ef0b98fb3a5.png", "description": "Microsoft Azure customers can access Recordsure technology through Azure Marketplace, using Azure\u2019s cloud platform for deployment, management and route-to-procurement options.", "inLanguage": "en-GB", "articleBody": "Recordsure technology is now available in Microsoft Azure Marketplace. Customers can access Recordsure\u2019s conversation and document analytics through Azure, including the first transactable Capture solution and options for customised private offers.\n\nMicrosoft Azure customers worldwide now have access to Recordsure technology: conversation and document analytics that capture, review and analyse 100% of customer interactions for compliance management and evidencing. Customers can take advantage of Azure\u2019s scalability, reliability and agility to drive application development and shape business strategies.\n\nRecordsure announced the availability of its technology in the Microsoft Azure Marketplace, an online store for applications and services for use on Azure. Recordsure customers can now use the Azure cloud platform for streamlined deployment and management.\n\nAccess through Azure Marketplace\n\nRecordsure technology offers rapid-to-deploy solutions for financial services, regulated industries and the public sector. Recordsure\u2019s technology experts and data scientists have built and developed the market-proven technology for over a decade to help firms improve operational efficiencies and oversight with less resource, while embedding process and regulatory compliance.\n\nJoe Norburn, CEO at Recordsure, said the Microsoft Azure Marketplace opens a new avenue for customers to access and deploy Recordsure technology. He said it contributes to customers\u2019 Microsoft Azure Consumption Commitment, known as MACC, while enabling access to discounts across the Azure estate.\n\nRecordsure\u2019s Capture solution is the firm\u2019s first transactable product launched in Azure Marketplace. Customers can also use Azure Marketplace to learn more about and access customised configurations from Recordsure\u2019s Conversation Intelligence and Document Intelligence suites by requesting an Azure Private Offer for their chosen solution.\n\nMicrosoft and Recordsure comments\n\nJake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp, welcomed Recordsure technology to Azure Marketplace. He said global customers can find, try and buy from among thousands of partner solutions, and that Azure Marketplace and trusted partners such as Recordsure help customers increase efficiency, buy confidently and spend smarter.\n\nThe Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. It helps connect companies seeking cloud-based solutions with partners that have developed solutions ready to use.\n\nJoe Norburn added that being part of Microsoft Azure Marketplace means more organisations can benefit from Recordsure technology to drive compliance and best practice, increase team effectiveness and productivity, and deliver better customer outcomes.\n\nRecordsure technology\n\nRecordsure technology offers conversation and document analytics to capture, review and analyse 100% of customer interactions with speed and accuracy. With over 13 years of delivery experience and a background in compliance, the ready-to-use technology is trusted by tier 1 banks, financial services firms, the UK government and regulators.", "wordCount": 428, "keywords": [ "Banking", "Government" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Azure Marketplace" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Azure Marketplace", "url": "https://azure.microsoft.com/en-us/marketplace/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "inLanguage": "en-GB", "text": "Microsoft Azure customers worldwide now have access to Recordsure technology: conversation and document analytics that capture, review and analyse 100% of customer interactions for compliance management and evidencing. Customers can take advantage of Azure\u2019s scalability, reliability and agility to drive application development and shape business strategies.\n\nRecordsure announced the availability of its technology in the Microsoft Azure Marketplace, an online store for applications and services for use on Azure. Recordsure customers can now use the Azure cloud platform for streamlined deployment and management." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "inLanguage": "en-GB", "headline": "Access through Azure Marketplace", "text": "Recordsure technology offers rapid-to-deploy solutions for financial services, regulated industries and the public sector. Recordsure\u2019s technology experts and data scientists have built and developed the market-proven technology for over a decade to help firms improve operational efficiencies and oversight with less resource, while embedding process and regulatory compliance.\n\nJoe Norburn, CEO at Recordsure, said the Microsoft Azure Marketplace opens a new avenue for customers to access and deploy Recordsure technology. He said it contributes to customers\u2019 Microsoft Azure Consumption Commitment, known as MACC, while enabling access to discounts across the Azure estate.\n\nRecordsure\u2019s Capture solution is the firm\u2019s first transactable product launched in Azure Marketplace. Customers can also use Azure Marketplace to learn more about and access customised configurations from Recordsure\u2019s Conversation Intelligence and Document Intelligence suites by requesting an Azure Private Offer for their chosen solution." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "inLanguage": "en-GB", "headline": "Microsoft and Recordsure comments", "text": "Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp, welcomed Recordsure technology to Azure Marketplace. He said global customers can find, try and buy from among thousands of partner solutions, and that Azure Marketplace and trusted partners such as Recordsure help customers increase efficiency, buy confidently and spend smarter.\n\nThe Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. It helps connect companies seeking cloud-based solutions with partners that have developed solutions ready to use.\n\nJoe Norburn added that being part of Microsoft Azure Marketplace means more organisations can benefit from Recordsure technology to drive compliance and best practice, increase team effectiveness and productivity, and deliver better customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure technology", "text": "Recordsure technology offers conversation and document analytics to capture, review and analyse 100% of customer interactions with speed and accuracy. With over 13 years of delivery experience and a background in compliance, the ready-to-use technology is trusted by tier 1 banks, financial services firms, the UK government and regulators." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-now-available-in-the-microsoft-azure-marketplace/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did Recordsure announce?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure announced that its technology is available in Microsoft Azure Marketplace." } }, { "@type": "Question", "name": "What is Azure Marketplace?", "acceptedAnswer": { "@type": "Answer", "text": "Azure Marketplace is an online store for applications and services for use on Azure, and a market for cloud solutions certified to run on Azure." } }, { "@type": "Question", "name": "Which Recordsure product is transactable first?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s Capture solution is its first transactable product launched in Azure Marketplace." } }, { "@type": "Question", "name": "What can customers request through Azure Marketplace?", "acceptedAnswer": { "@type": "Answer", "text": "Customers can request an Azure Private Offer for customised configurations from Recordsure\u2019s Conversation Intelligence and Document Intelligence suites." } } ] } ] } ``` ### Compliance Q&A: How can firms keep their ongoing advice services compliant? - URL: https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/ - Published: 2025-03-13 - Modified: 2026-10-09 **Topic:** Ongoing advice compliance In the final Compliance Q&A, David Boyhan says firms need both current process improvements and historical MI checks to keep ongoing advice services compliant. He highlights client agreements, fair value assessments, disengagement processes, redress and evidence of good outcomes. #### Key points - David Boyhan says firms need go-forward and backward-looking work. - Current policies should support good ongoing service. - Circa 90% of clients receive an ongoing service. - Firms should review agreements, fair value assessments and disengagement. - Historical MI should go back to 2018. Following the **FCA’s release of its findings into its recent ongoing advice review**, [TCC](https://tcc.group/) and Recordsure’s Chief Product and Commercial Officer Garry Evans catches up with TCC’s regulatory expert and Technical Director David Boyhan, who specialises in wealth management, to unpack the detail. In the final instalment of the five-part mini-series, Garry asks David **how can firms keep their ongoing advice services compliant.** #### Forward and backward-looking compliance work David says there are two things firms need to do. The first is a go-forward piece, which is potentially the easier of the two. Firms should look at current policies and processes and make sure they are geared towards delivering a good ongoing service for clients. Circa 90% of clients receive an ongoing service, so it is essential that those clients receive good outcomes. Firms should start by looking at client agreements to see what has been promised, then review fair value assessments and processes such as disengagement where clients are not engaging with the process. David says the FCA findings are positive, but there will be no excuses going forward now the FCA has released its thematic review findings. The FCA will expect policies and procedures to be compliant. The second piece is backward-looking. Firms need to go back to 2018 and gather MI relating to clients who have not engaged with the process and clients who may not have been invited to engage with the process. They then need to take appropriate action, potentially including redress for relevant clients and disengagement. David summarises that firms should consider both the go-forward and backward-looking pieces, ensuring that all clients historically have received good outcomes. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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He highlights client agreements, fair value assessments, disengagement processes, redress and evidence of good outcomes.\n\nFollowing the FCA\u2019s release of its findings into its recent ongoing advice review, TCC and Recordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan, who specialises in wealth management, to unpack the detail.\n\nIn the final instalment of the five-part mini-series, Garry asks David how can firms keep their ongoing advice services compliant.\n\nForward and backward-looking compliance work\n\nDavid says there are two things firms need to do. The first is a go-forward piece, which is potentially the easier of the two. Firms should look at current policies and processes and make sure they are geared towards delivering a good ongoing service for clients. Circa 90% of clients receive an ongoing service, so it is essential that those clients receive good outcomes.\n\nFirms should start by looking at client agreements to see what has been promised, then review fair value assessments and processes such as disengagement where clients are not engaging with the process. David says the FCA findings are positive, but there will be no excuses going forward now the FCA has released its thematic review findings. The FCA will expect policies and procedures to be compliant.\n\nThe second piece is backward-looking. Firms need to go back to 2018 and gather MI relating to clients who have not engaged with the process and clients who may not have been invited to engage with the process. They then need to take appropriate action, potentially including redress for relevant clients and disengagement.\n\nDavid summarises that firms should consider both the go-forward and backward-looking pieces, ensuring that all clients historically have received good outcomes.", "wordCount": 311, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#webpage" }, "inLanguage": "en-GB", "text": "Following the FCA\u2019s release of its findings into its recent ongoing advice review, TCC and Recordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan, who specialises in wealth management, to unpack the detail.\n\nIn the final instalment of the five-part mini-series, Garry asks David how can firms keep their ongoing advice services compliant." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#webpage" }, "inLanguage": "en-GB", "headline": "Forward and backward-looking compliance work", "text": "David says there are two things firms need to do. The first is a go-forward piece, which is potentially the easier of the two. Firms should look at current policies and processes and make sure they are geared towards delivering a good ongoing service for clients. Circa 90% of clients receive an ongoing service, so it is essential that those clients receive good outcomes.\n\nFirms should start by looking at client agreements to see what has been promised, then review fair value assessments and processes such as disengagement where clients are not engaging with the process. David says the FCA findings are positive, but there will be no excuses going forward now the FCA has released its thematic review findings. The FCA will expect policies and procedures to be compliant.\n\nThe second piece is backward-looking. Firms need to go back to 2018 and gather MI relating to clients who have not engaged with the process and clients who may not have been invited to engage with the process. They then need to take appropriate action, potentially including redress for relevant clients and disengagement.\n\nDavid summarises that firms should consider both the go-forward and backward-looking pieces, ensuring that all clients historically have received good outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-keep-ongoing-advice-services-compliant/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What two areas does David say firms should focus on?", "acceptedAnswer": { "@type": "Answer", "text": "He says firms need a go-forward piece covering current policies and processes, and a backward-looking piece covering historical MI and outcomes." } }, { "@type": "Question", "name": "What should the go-forward review include?", "acceptedAnswer": { "@type": "Answer", "text": "It should include client agreements, fair value assessments and processes such as disengagement where clients are not engaging." } }, { "@type": "Question", "name": "Why is ongoing service important?", "acceptedAnswer": { "@type": "Answer", "text": "David says circa 90% of clients receive an ongoing service, so firms must ensure those clients receive good outcomes." } }, { "@type": "Question", "name": "What historical work does David identify?", "acceptedAnswer": { "@type": "Answer", "text": "He says firms should go back to 2018 and gather MI on clients who have not engaged or may not have been invited to engage, then take appropriate action." } }, { "@type": "Question", "name": "How can Recordsure technology support firms?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology automates document checks and notifies firms when evidence is missing so advisers can intervene." } } ] } ] } ``` ### Compliance Q&A: How do the FCA’s review findings relate to the Consumer Duty? - URL: https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/ - Published: 2025-03-13 - Modified: 2026-10-09 **Topic:** Consumer Duty MI In part four of the Compliance Q&A series, Garry Evans asks David Boyhan how the FCA’s ongoing advice findings relate to Consumer Duty. David says firms need evidence-backed MI, including historical data, to demonstrate good outcomes and prepare for FCA follow-up. #### Key points - Ongoing advice reviews are expected to form part of Consumer Duty MI. - The FCA intends to contact firms about progress on ongoing advice services. - Firms may need MI going back to 2018. - David Boyhan links this to the FCA becoming data-led. - Recordsure technology can support suitability reviews by automating document checks. **Recordsure’s Chief Product and Commercial Officer Garry Evans catches up with TCC’s regulatory expert and Technical Director David Boyhan to discuss the [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered). David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.** In the fourth instalment of the five-part mini-series, Garry asks David how the review’s findings relate to the Consumer Duty. #### Consumer Duty evidence David says ongoing advice reviews are likely to form a key part of a firm’s Consumer Duty management information and feed into the annual board report. The FCA has confirmed it will contact firms later this year to see what progress they have made in relation to ongoing advice services. Firms therefore need evidence to demonstrate any findings they show to the FCA. David says that if the FCA came knocking in six months’ time, a firm would need to show work completed on ongoing advice, MI going back to 2018, data about redress that may not have been paid to clients and an explanation of why. He links this to TCC’s long-standing view that the FCA has become a data-led regulator. TCC encourages firms to have important MI backed by evidence to demonstrate that customers are treated fairly and receive good outcomes. In summary, work on ongoing advice is crucial to demonstrating Consumer Duty compliance. #### Supporting sources - [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Compliance Q&A: How do the FCA\u2019s review findings relate to the Consumer Duty?", "item": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/", "name": "Compliance Q&A: How do the FCA\u2019s review findings relate to the Consumer Duty?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-13T11:34:58+00:00", "dateModified": "2025-03-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-03-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Compliance Q&A: How do the FCA\u2019s review findings relate to the Consumer Duty?", "datePublished": "2025-03-13T11:34:58+00:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/7ac8de12b7474082a8718e232717ba94/thumbnail-1024-7566bd117d9239f8f69c56210a30665f314c342e384ee87029e688bc42f869d6.jpg", "description": "David Boyhan explains why ongoing advice reviews form part of Consumer Duty management information and why firms need evidence for FCA scrutiny.", "inLanguage": "en-GB", "articleBody": "In part four of the Compliance Q&A series, Garry Evans asks David Boyhan how the FCA\u2019s ongoing advice findings relate to Consumer Duty. David says firms need evidence-backed MI, including historical data, to demonstrate good outcomes and prepare for FCA follow-up.\n\nRecordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the fourth instalment of the five-part mini-series, Garry asks David how the review\u2019s findings relate to the Consumer Duty.\n\nConsumer Duty evidence\n\nDavid says ongoing advice reviews are likely to form a key part of a firm\u2019s Consumer Duty management information and feed into the annual board report. The FCA has confirmed it will contact firms later this year to see what progress they have made in relation to ongoing advice services.\n\nFirms therefore need evidence to demonstrate any findings they show to the FCA. David says that if the FCA came knocking in six months\u2019 time, a firm would need to show work completed on ongoing advice, MI going back to 2018, data about redress that may not have been paid to clients and an explanation of why.\n\nHe links this to TCC\u2019s long-standing view that the FCA has become a data-led regulator. TCC encourages firms to have important MI backed by evidence to demonstrate that customers are treated fairly and receive good outcomes. 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David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the fourth instalment of the five-part mini-series, Garry asks David how the review\u2019s findings relate to the Consumer Duty." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#webpage" }, "inLanguage": "en-GB", "headline": "Consumer Duty evidence", "text": "David says ongoing advice reviews are likely to form a key part of a firm\u2019s Consumer Duty management information and feed into the annual board report. The FCA has confirmed it will contact firms later this year to see what progress they have made in relation to ongoing advice services.\n\nFirms therefore need evidence to demonstrate any findings they show to the FCA. David says that if the FCA came knocking in six months\u2019 time, a firm would need to show work completed on ongoing advice, MI going back to 2018, data about redress that may not have been paid to clients and an explanation of why.\n\nHe links this to TCC\u2019s long-standing view that the FCA has become a data-led regulator. TCC encourages firms to have important MI backed by evidence to demonstrate that customers are treated fairly and receive good outcomes. In summary, work on ongoing advice is crucial to demonstrating Consumer Duty compliance." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-review-findings-relate-to-consumer-duty/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is interviewed in this Q&A?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans speaks with TCC Technical Director David Boyhan, a regulatory expert who specialises in wealth management." } }, { "@type": "Question", "name": "How do ongoing advice reviews relate to Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "David says they will form a key part of a firm\u2019s Consumer Duty management information and feed into the annual board report." } }, { "@type": "Question", "name": "What evidence does David say firms may need?", "acceptedAnswer": { "@type": "Answer", "text": "He says firms may need MI going back to 2018, data on unpaid redress and explanations for why redress has not been paid." } }, { "@type": "Question", "name": "How can Recordsure technology support suitability reviews?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology automates document checks and notifies firms when evidence is missing so advisers can intervene." } } ] } ] } ``` ### Compliance Q&A: How should firms be considering quality and suitability of advice? - URL: https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/ - Published: 2025-03-12 - Modified: 2026-10-09 **Topic:** Advice suitability In part three of the Compliance Q&A series, David Boyhan says the FCA’s focus on whether ongoing reviews happen should not distract firms from advice quality and suitability. He suggests risk-based review, especially where clients receive no-change reviews. #### Key points - The FCA’s thematic work focused on whether reviews were taking place. - Firms still need to demonstrate advice suitability. - Some firms provide ongoing advice to up to 90% of clients. - No-change reviews after 12 months may be higher risk. - Recordsure technology can notify advisers where evidence is missing. **Recordsure’s Chief Product and Commercial Officer Garry Evans catches up with TCC’s regulatory expert and Technical Director David Boyhan to discuss the [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered). David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.** In the third instalment of the five-part mini-series, Garry asks David how firms should consider the suitability and quality of their advice in relation to the review findings. #### Advice quality in ongoing reviews Garry notes that much of the FCA’s focus over the past 12 months appears to have been on delivery of the service rather than the quality of the advice that firms give. David says this is a crucial question because the FCA’s thematic work focused on whether reviews were taking place. It was not a deep dive into the quality of the ongoing service. From a Consumer Duty and FCA perspective, firms still need to demonstrate the suitability of advice. Historically, review models have focused on new business, but David says the FCA has rightly pointed out that firms have moved to a model of providing ongoing advice for up to 90% of clients. It is crucial that firms assess the quality of advice provided through the ongoing review service. David suggests a risk-based approach. Clients receiving a no-change review, where after 12 months everything is identical to the last 12 months, may be slightly higher risk and may need more emphasis. Whatever firms do, they need a controlled environment that takes account of the quality of ongoing advice as well as whether the service is delivered. #### Supporting sources - [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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He suggests risk-based review, especially where clients receive no-change reviews.\n\nRecordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the third instalment of the five-part mini-series, Garry asks David how firms should consider the suitability and quality of their advice in relation to the review findings.\n\nAdvice quality in ongoing reviews\n\nGarry notes that much of the FCA\u2019s focus over the past 12 months appears to have been on delivery of the service rather than the quality of the advice that firms give. David says this is a crucial question because the FCA\u2019s thematic work focused on whether reviews were taking place. It was not a deep dive into the quality of the ongoing service.\n\nFrom a Consumer Duty and FCA perspective, firms still need to demonstrate the suitability of advice. Historically, review models have focused on new business, but David says the FCA has rightly pointed out that firms have moved to a model of providing ongoing advice for up to 90% of clients. It is crucial that firms assess the quality of advice provided through the ongoing review service.\n\nDavid suggests a risk-based approach. Clients receiving a no-change review, where after 12 months everything is identical to the last 12 months, may be slightly higher risk and may need more emphasis. Whatever firms do, they need a controlled environment that takes account of the quality of ongoing advice as well as whether the service is delivered.", "wordCount": 312, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice suitability" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA\u2019s release of its findings into its recent ongoing advice review", "url": "https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the third instalment of the five-part mini-series, Garry asks David how firms should consider the suitability and quality of their advice in relation to the review findings." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Advice quality in ongoing reviews", "text": "Garry notes that much of the FCA\u2019s focus over the past 12 months appears to have been on delivery of the service rather than the quality of the advice that firms give. David says this is a crucial question because the FCA\u2019s thematic work focused on whether reviews were taking place. It was not a deep dive into the quality of the ongoing service.\n\nFrom a Consumer Duty and FCA perspective, firms still need to demonstrate the suitability of advice. Historically, review models have focused on new business, but David says the FCA has rightly pointed out that firms have moved to a model of providing ongoing advice for up to 90% of clients. It is crucial that firms assess the quality of advice provided through the ongoing review service.\n\nDavid suggests a risk-based approach. Clients receiving a no-change review, where after 12 months everything is identical to the last 12 months, may be slightly higher risk and may need more emphasis. Whatever firms do, they need a controlled environment that takes account of the quality of ongoing advice as well as whether the service is delivered." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-consider-quality-and-suitability-of-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who features in this Compliance Q&A?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans speaks with David Boyhan, TCC\u2019s Technical Director and a regulatory expert who specialises in wealth management." } }, { "@type": "Question", "name": "What does David say the FCA\u2019s thematic work focused on?", "acceptedAnswer": { "@type": "Answer", "text": "He says it focused on whether reviews were taking place, rather than a deep dive into the quality of the ongoing service." } }, { "@type": "Question", "name": "Why does advice quality still matter?", "acceptedAnswer": { "@type": "Answer", "text": "From a Consumer Duty and FCA perspective, firms still need to demonstrate the suitability of advice." } }, { "@type": "Question", "name": "What risk-based example does David give?", "acceptedAnswer": { "@type": "Answer", "text": "He says no-change reviews after 12 months, where everything is identical to the previous period, may be slightly higher risk." } } ] } ] } ``` ### Compliance Q&A: What should firms do about disengaged clients? - URL: https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/ - Published: 2025-03-11 - Modified: 2026-10-09 **Topic:** Disengaged clients Advice firms should review client data back to January 2018, identify whether services were paid for but not received, and define a structured disengagement process. #### Key points - Clients who declined or did not respond to an ongoing advice review offer need a considered review approach. - David Boyhan says firms need to check data back to January 2018. - Where clients paid for a service but did not receive ongoing review service, firms may need to consider redress. - Disengagement processes should account for vulnerability and the number of chases before ending a relationship. **Recordsure’s Chief Product and Commercial Officer Garry Evans catches up with TCC’s regulatory expert and Technical Director David Boyhan to discuss the [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered)[.](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) David specialises in wealth management and helps us unpack what firms should know about the latest FCA publications regarding ongoing advice services.** In the second instalment of a five-part mini-series, Garry asks David what firms should do about clients who are not engaging with them. Garry The 2% of clients that weren’t invited for a review will require some sort of standard remediation and redress approach. But for the 15% of clients that either declined or didn’t respond to the offer of review, what should firms be thinking about doing for them? David Yes, that’s a great question Garry. And I think the first thing is to reiterate the point you’ve made there about the 2% of clients who weren’t invited to engage in the process. The FCA has been quite clear that they would expect those clients to be paid some sort of redress. But in relation to your question about clients who have not been engaging, the first thing that firms need to do is to go back to 2018. The FCA is being very clear that firms need to go back and check their data going back to January 2018. Now firms need to be looking at those clients and seeing whether they’ve been paying for a service and not receiving an ongoing review service. Maybe they haven’t been receiving an annual review meeting for a number of years. And then they might potentially consider paying redress to some of those clients. If there’s been one or two missed reviews, it’s less likely that redress would be required. But firms really need to go back to 2018, see which clients were paying for a service and what sort of service those clients were paying for. And then obviously if clients aren’t engaging, there needs to be a disengagement process as well. This isn’t as straightforward as some people think it is because you need to take into account areas such as vulnerability and how many chases you’re going to make before you potentially cut a client off. So, I think there’s two things that really need to be done with those cohorts Garry: the first is identifying all the data back to 2018 and then making a decision as to whether or not redress may be payable to some of them. Garry Makes a lot of sense, thanks David. Firms can enhance their suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks, notifying you only when evidence is missing so advisers can intervene. #### Supporting sources - [FCA requests information from firms on delivery of ongoing advice services and Consumer Duty](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) - [FCA finds vast majority of ongoing suitability reviews delivered](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Compliance Q&A: What should firms do about disengaged clients?", "item": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/", "name": "Compliance Q&A: What should firms do about disengaged clients?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-11T16:36:58+00:00", "dateModified": "2025-03-11T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-03-11" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Compliance Q&A: What should firms do about disengaged clients?", "datePublished": "2025-03-11T16:36:58+00:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1e1485b723e0477db18674c26a998ee5/thumbnail-640-47e943bf032f6c4686486e30e6ac1238c28d1c90bd0b5860e3217ae0d60e2802.png", "description": "Garry Evans and David Boyhan discuss how advice firms should assess disengaged ongoing advice clients, historic review evidence and possible redress.", "inLanguage": "en-GB", "articleBody": "Advice firms should review client data back to January 2018, identify whether services were paid for but not received, and define a structured disengagement process.\n\nRecordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps us unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the second instalment of a five-part mini-series, Garry asks David what firms should do about clients who are not engaging with them.\n\nGarry\n\nThe 2% of clients that weren\u2019t invited for a review will require some sort of standard remediation and redress approach. But for the 15% of clients that either declined or didn\u2019t respond to the offer of review, what should firms be thinking about doing for them?\n\nDavid\n\nYes, that\u2019s a great question Garry. And I think the first thing is to reiterate the point you\u2019ve made there about the 2% of clients who weren\u2019t invited to engage in the process. The FCA has been quite clear that they would expect those clients to be paid some sort of redress.\n\nBut in relation to your question about clients who have not been engaging, the first thing that firms need to do is to go back to 2018. The FCA is being very clear that firms need to go back and check their data going back to January 2018. Now firms need to be looking at those clients and seeing whether they\u2019ve been paying for a service and not receiving an ongoing review service. Maybe they haven\u2019t been receiving an annual review meeting for a number of years. And then they might potentially consider paying redress to some of those clients. If there\u2019s been one or two missed reviews, it\u2019s less likely that redress would be required. But firms really need to go back to 2018, see which clients were paying for a service and what sort of service those clients were paying for.\n\nAnd then obviously if clients aren\u2019t engaging, there needs to be a disengagement process as well. This isn\u2019t as straightforward as some people think it is because you need to take into account areas such as vulnerability and how many chases you\u2019re going to make before you potentially cut a client off. So, I think there\u2019s two things that really need to be done with those cohorts Garry: the first is identifying all the data back to 2018 and then making a decision as to whether or not redress may be payable to some of them.\n\nGarry\n\nMakes a lot of sense, thanks David.\n\nFirms can enhance their suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks, notifying you only when evidence is missing so advisers can intervene.", "wordCount": 478, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Disengaged clients" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA requests information from firms on delivery of ongoing advice services and Consumer Duty", "url": "https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty" }, { "@type": "CreativeWork", "name": "FCA finds vast majority of ongoing suitability reviews delivered", "url": "https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps us unpack what firms should know about the latest FCA publications regarding ongoing advice services.\n\nIn the second instalment of a five-part mini-series, Garry asks David what firms should do about clients who are not engaging with them.\n\nGarry\n\nThe 2% of clients that weren\u2019t invited for a review will require some sort of standard remediation and redress approach. But for the 15% of clients that either declined or didn\u2019t respond to the offer of review, what should firms be thinking about doing for them?\n\nDavid\n\nYes, that\u2019s a great question Garry. And I think the first thing is to reiterate the point you\u2019ve made there about the 2% of clients who weren\u2019t invited to engage in the process. The FCA has been quite clear that they would expect those clients to be paid some sort of redress.\n\nBut in relation to your question about clients who have not been engaging, the first thing that firms need to do is to go back to 2018. The FCA is being very clear that firms need to go back and check their data going back to January 2018. Now firms need to be looking at those clients and seeing whether they\u2019ve been paying for a service and not receiving an ongoing review service. Maybe they haven\u2019t been receiving an annual review meeting for a number of years. And then they might potentially consider paying redress to some of those clients. If there\u2019s been one or two missed reviews, it\u2019s less likely that redress would be required. But firms really need to go back to 2018, see which clients were paying for a service and what sort of service those clients were paying for.\n\nAnd then obviously if clients aren\u2019t engaging, there needs to be a disengagement process as well. This isn\u2019t as straightforward as some people think it is because you need to take into account areas such as vulnerability and how many chases you\u2019re going to make before you potentially cut a client off. So, I think there\u2019s two things that really need to be done with those cohorts Garry: the first is identifying all the data back to 2018 and then making a decision as to whether or not redress may be payable to some of them.\n\nGarry\n\nMakes a lot of sense, thanks David.\n\nFirms can enhance their suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks, notifying you only when evidence is missing so advisers can intervene." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-manage-disengaged-ongoing-advice-clients/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which client cohorts need attention?", "acceptedAnswer": { "@type": "Answer", "text": "Ongoing advice clients who declined or did not respond to a review offer need attention, alongside the separate cohort not invited for review." } }, { "@type": "Question", "name": "How far back should firms check their data?", "acceptedAnswer": { "@type": "Answer", "text": "David Boyhan says firms need to check their data back to January 2018." } }, { "@type": "Question", "name": "When might redress be considered?", "acceptedAnswer": { "@type": "Answer", "text": "Redress may be considered where clients paid for a service and did not receive the ongoing review service they were due." } }, { "@type": "Question", "name": "What should a disengagement process consider?", "acceptedAnswer": { "@type": "Answer", "text": "It should consider vulnerability and how many chases the firm will make before potentially ending the client relationship." } } ] } ] } ``` ### Compliance Q&A: What are the key findings from the FCA’s ongoing advice review - URL: https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/ - Published: 2025-03-10 - Modified: 2026-10-09 **Topic:** Advice review Q&A The FCA’s ongoing advice findings were generally positive, with no mandated industry-wide past business review expected. Firms still need to address clients who did not engage or were not invited to engage. #### Key points - Garry Evans spoke with TCC Technical Director David Boyhan about the FCA’s ongoing advice review findings. - David described the headline findings as generally positive and better than many expected. - He said there is unlikely to be a mandated industry-wide past business review. - Firms still need to act for about 15% of clients who did not engage and 2% who were not invited. [Compliance Q&A part 1: What are the key findings from the FCA’s ongoing advice review?](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) **Recordsure’s Chief Product and Commercial Officer Garry Evans catches up with TCC’s regulatory expert and Technical Director David Boyhan to discuss the [FCA’s release of its findings into its recent ongoing advice review](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered). David specialises in wealth management and helps unpack what firms should know about the FCA’s latest publications regarding ongoing advice services.** In the first of this five-part mini-series, Garry asks David what key findings firms should consider as a result of the FCA release. #### Transcript: part one **Garry** Why don’t we start with a bit of summary of the key findings from the FCA’s review? **David** Yes of course, Garry, I think that’s always a good place to start. And I’m pleased to say that the headline news from the findings is generally positive and certainly better than many people predicted. I think it’s safe to say there’s not going to be any mandated industry wide past business reviews which has to be good news for the sector. That said, there is certainly work that firms will need to do going forward and that specifically they liaise with two groups of clients. The first group is clients who have not engaged in the process, which the FCA found to be about 15% of clients due an annual review. Firms are going to have to do work with those clients. There are also 2% of clients who have not been invited to engage in a process at all, so firms will need to go back and identify those clients as well. In summary, the findings are positive but there is certainly work for firms to do as well. **Garry** Thanks, David. #### What firms should take from the Q&A Firms can enhance suitability reviews by integrating AI into workflow. Recordsure technology automates document checks, notifying firms only when evidence is missing so advisers can intervene. Firms can contact Recordsure to see how the technology can support regulatory needs. #### Supporting sources - [FCA request for information on ongoing advice services and Consumer Duty](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) - [FCA findings on ongoing suitability reviews](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Firms still need to address clients who did not engage or were not invited to engage.\n\nCompliance Q&A part 1: What are the key findings from the FCA\u2019s ongoing advice review?\n\nRecordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps unpack what firms should know about the FCA\u2019s latest publications regarding ongoing advice services.\n\nIn the first of this five-part mini-series, Garry asks David what key findings firms should consider as a result of the FCA release.\n\nTranscript: part one\n\nGarry\n\nWhy don\u2019t we start with a bit of summary of the key findings from the FCA\u2019s review?\n\nDavid\n\nYes of course, Garry, I think that\u2019s always a good place to start. And I\u2019m pleased to say that the headline news from the findings is generally positive and certainly better than many people predicted.\n\nI think it\u2019s safe to say there\u2019s not going to be any mandated industry wide past business reviews which has to be good news for the sector. That said, there is certainly work that firms will need to do going forward and that specifically they liaise with two groups of clients.\n\nThe first group is clients who have not engaged in the process, which the FCA found to be about 15% of clients due an annual review. Firms are going to have to do work with those clients. There are also 2% of clients who have not been invited to engage in a process at all, so firms will need to go back and identify those clients as well.\n\nIn summary, the findings are positive but there is certainly work for firms to do as well.\n\nGarry\n\nThanks, David.\n\nWhat firms should take from the Q&A\n\nFirms can enhance suitability reviews by integrating AI into workflow. Recordsure technology automates document checks, notifying firms only when evidence is missing so advisers can intervene. Firms can contact Recordsure to see how the technology can support regulatory needs.", "wordCount": 366, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice review Q&A" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA request for information on ongoing advice services and Consumer Duty", "url": "https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty" }, { "@type": "CreativeWork", "name": "FCA findings on ongoing suitability reviews", "url": "https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#webpage" }, "inLanguage": "en-GB", "text": "Compliance Q&A part 1: What are the key findings from the FCA\u2019s ongoing advice review?\n\nRecordsure\u2019s Chief Product and Commercial Officer Garry Evans catches up with TCC\u2019s regulatory expert and Technical Director David Boyhan to discuss the FCA\u2019s release of its findings into its recent ongoing advice review. David specialises in wealth management and helps unpack what firms should know about the FCA\u2019s latest publications regarding ongoing advice services.\n\nIn the first of this five-part mini-series, Garry asks David what key findings firms should consider as a result of the FCA release." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Transcript: part one", "text": "Garry\n\nWhy don\u2019t we start with a bit of summary of the key findings from the FCA\u2019s review?\n\nDavid\n\nYes of course, Garry, I think that\u2019s always a good place to start. And I\u2019m pleased to say that the headline news from the findings is generally positive and certainly better than many people predicted.\n\nI think it\u2019s safe to say there\u2019s not going to be any mandated industry wide past business reviews which has to be good news for the sector. That said, there is certainly work that firms will need to do going forward and that specifically they liaise with two groups of clients.\n\nThe first group is clients who have not engaged in the process, which the FCA found to be about 15% of clients due an annual review. Firms are going to have to do work with those clients. There are also 2% of clients who have not been invited to engage in a process at all, so firms will need to go back and identify those clients as well.\n\nIn summary, the findings are positive but there is certainly work for firms to do as well.\n\nGarry\n\nThanks, David." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#webpage" }, "inLanguage": "en-GB", "headline": "What firms should take from the Q&A", "text": "Firms can enhance suitability reviews by integrating AI into workflow. Recordsure technology automates document checks, notifying firms only when evidence is missing so advisers can intervene. Firms can contact Recordsure to see how the technology can support regulatory needs." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-ongoing-advice-review-survey-findings/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who takes part in the Q&A?", "acceptedAnswer": { "@type": "Answer", "text": "Garry Evans, Recordsure\u2019s Chief Product and Commercial Officer, speaks with TCC Technical Director David Boyhan." } }, { "@type": "Question", "name": "What is David Boyhan\u2019s headline assessment?", "acceptedAnswer": { "@type": "Answer", "text": "He says the FCA\u2019s findings are generally positive and better than many people predicted." } }, { "@type": "Question", "name": "Is an industry-wide past business review expected?", "acceptedAnswer": { "@type": "Answer", "text": "David says it is safe to say there will not be any mandated industry-wide past business review." } }, { "@type": "Question", "name": "Which client groups still need attention?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to address clients who did not engage in the annual review process and clients who were not invited to engage at all." } } ] } ] } ``` ### Compliance Q&A: Critical insights from the FCA’s ongoing advice review findings - URL: https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/ - Published: 2025-03-06 - Modified: 2026-10-09 **Topic:** Ongoing advice reviews The FCA’s ongoing advice review findings show that most clients received reviews, but firms still need to remediate missed reviews and evidence how they handle disengaged clients. #### Key points - The FCA gathered data from 22 advisory firms after raising concerns in February 2024. - Most clients received reviews, but remediation remains due where reviews were missed. - Firms should trace ongoing advice MI back to 2018 and test agreements, evidence and fair value. - Recordsure technology can automate document checks and notify teams when evidence is missing. In February 2024, the FCA raised concerns about the delivery of ongoing advice services, prompting them to gather data from 22 leading advisory firms. This data survey aimed to uncover how many clients were scheduled for a review, who actually received it, and the outcomes for those who did not. This ignited a wave of apprehension throughout the wealth management industry, hinting at the possibility of an impending, broader remediation phase. [Fast forward a year, the regulator has unveiled its insightful findings.](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) #### Taking action The findings state that while the majority of clients did receive their reviews, there’s crucial remediation due for those who didn’t. Additionally, it raises the critical issue of how firms should engage with clients who either didn’t respond or opted out of their ongoing advice review. #### Reflect on the past, secure your future Gathering MI for clients receiving ongoing advice is essential. According to the FCA’s guidance, this should be traced back to 2018. Firms should revisit their back book to confirm they have the appropriate evidence, reassess client agreements, and verify their fair value assessments for ongoing advice. Moving forward, it’s crucial that firms conduct timely reviews and establish complete processes to pinpoint when these reviews are due – and evidence of the outcomes of the reviews. #### Delving into the details To explore the implications for wealth management firms, Recordsure’s Chief Product and Commercial Officer, Garry Evans, caught up with our sister company, [TCC](https://tcc.group/)‘s Technical Director, David Boyhan, to unpack the important next steps for firms. Garry and David address topical issues including: - What are the key findings from the review? - What should firms do about disengaged clients? - How should firms consider the quality and suitability of advice? - How the review findings relate to the Consumer Duty - How firms can stay compliant in the future Firms can enhance their suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks, notifying you only when evidence is missing so advisers can intervene. #### Supporting sources - [FCA request for information on ongoing advice services](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) - [FCA findings on ongoing suitability reviews](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Compliance Q&A: Critical insights from the FCA\u2019s ongoing advice review findings", "item": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/", "name": "Compliance Q&A: Critical insights from the FCA\u2019s ongoing advice review findings", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-03-06T15:47:42+00:00", "dateModified": "2025-03-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-03-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Compliance Q&A: Critical insights from the FCA\u2019s ongoing advice review findings", "datePublished": "2025-03-06T15:47:42+00:00", "dateModified": "2026-10-09T04:50:18+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9e7cec9e227a45968ce104488fb2c193/thumbnail-1024-781f188ffec1177d06634b0420ed76ff00300c70803b759af821f66bece819d4.jpg", "description": "A Q&A-style overview of the FCA\u2019s ongoing advice review findings, the remediation questions they raise and the evidence wealth firms need for future reviews.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s ongoing advice review findings show that most clients received reviews, but firms still need to remediate missed reviews and evidence how they handle disengaged clients.\n\nIn February 2024, the FCA raised concerns about the delivery of ongoing advice services, prompting them to gather data from 22 leading advisory firms.\n\nThis data survey aimed to uncover how many clients were scheduled for a review, who actually received it, and the outcomes for those who did not.\n\nThis ignited a wave of apprehension throughout the wealth management industry, hinting at the possibility of an impending, broader remediation phase.\n\nFast forward a year, the regulator has unveiled its insightful findings.\n\nTaking action\n\nThe findings state that while the majority of clients did receive their reviews, there\u2019s crucial remediation due for those who didn\u2019t. Additionally, it raises the critical issue of how firms should engage with clients who either didn\u2019t respond or opted out of their ongoing advice review.\n\nReflect on the past, secure your future\n\nGathering MI for clients receiving ongoing advice is essential. According to the FCA\u2019s guidance, this should be traced back to 2018.\n\nFirms should revisit their back book to confirm they have the appropriate evidence, reassess client agreements, and verify their fair value assessments for ongoing advice. Moving forward, it\u2019s crucial that firms conduct timely reviews and establish complete processes to pinpoint when these reviews are due \u2013 and evidence of the outcomes of the reviews.\n\nDelving into the details\n\nTo explore the implications for wealth management firms, Recordsure\u2019s Chief Product and Commercial Officer, Garry Evans, caught up with our sister company, TCC\u2018s Technical Director, David Boyhan, to unpack the important next steps for firms.\n\nGarry and David address topical issues including:\n\n\u2022 What are the key findings from the review?\n\u2022 What should firms do about disengaged clients?\n\n\u2022 How should firms consider the quality and suitability of advice?\n\n\u2022 How the review findings relate to the Consumer Duty\n\n\u2022 How firms can stay compliant in the future\n\nFirms can enhance their suitability reviews by integrating AI into their workflow. 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Additionally, it raises the critical issue of how firms should engage with clients who either didn\u2019t respond or opted out of their ongoing advice review." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Reflect on the past, secure your future", "text": "Gathering MI for clients receiving ongoing advice is essential. According to the FCA\u2019s guidance, this should be traced back to 2018.\n\nFirms should revisit their back book to confirm they have the appropriate evidence, reassess client agreements, and verify their fair value assessments for ongoing advice. Moving forward, it\u2019s crucial that firms conduct timely reviews and establish complete processes to pinpoint when these reviews are due \u2013 and evidence of the outcomes of the reviews." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage" }, "inLanguage": "en-GB", "headline": "Delving into the details", "text": "To explore the implications for wealth management firms, Recordsure\u2019s Chief Product and Commercial Officer, Garry Evans, caught up with our sister company, TCC\u2018s Technical Director, David Boyhan, to unpack the important next steps for firms.\n\nGarry and David address topical issues including:\n\n\u2022 What are the key findings from the review?\n\u2022 What should firms do about disengaged clients?\n\n\u2022 How should firms consider the quality and suitability of advice?\n\n\u2022 How the review findings relate to the Consumer Duty\n\n\u2022 How firms can stay compliant in the future\n\nFirms can enhance their suitability reviews by integrating AI into their workflow. Recordsure technology automates document checks, notifying you only when evidence is missing so advisers can intervene." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/qa-ongoing-advice-findings/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA ask firms to provide?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA asked 22 advisory firms for data showing how many clients were scheduled for ongoing advice reviews, who received them and what happened where reviews did not take place." } }, { "@type": "Question", "name": "What remediation issue is raised?", "acceptedAnswer": { "@type": "Answer", "text": "Clients who did not receive reviews need remediation, and firms need a clear approach for clients who did not respond or opted out." } }, { "@type": "Question", "name": "How far back should firms trace ongoing advice MI?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should trace MI for clients receiving ongoing advice back to 2018." } }, { "@type": "Question", "name": "How can Recordsure technology support reviews?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology can automate document checks and notify teams when evidence is missing so advisers can intervene." } } ] } ] } ``` ### Key findings from the FCA’s ongoing advice services review - URL: https://recordsure.com/insights/analysis-and-perspective/ongoing-advice-review-findings/ - Published: 2025-02-27 - Modified: 2026-10-09 **Topic:** Ongoing advice reviews The FCA reviewed 22 large ongoing advice firms and found most suitability reviews were delivered, but evidence and remediation remain important. Firms should assess redress, disengagement, advice quality and automated evidence checks. #### Key points - The FCA reviewed 22 of the largest ongoing advice firms and found 83% of reviews were carried out. - It found 15% of clients did not respond or declined an offer, and 2% had no effort made to deliver the review. - Firms should evidence services required by contracts or rules and consider whether customer harm occurred. - Key actions include redress assessment, disengagement strategy, advice-quality assurance and evidence readiness. - Automated process checks can alert advisers when required evidentiary documents are missing. [In recent findings from the FCA review of 22 of the largest ongoing advice firms, it was discovered that the ‘vast majority’ of suitability reviews were delivered as promised. The headline figures state that overall, 83% of reviews were carried out, 15% of clients did not respond or declined a firm’s offer, and in a final 2%, no effort was made to deliver the review.](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) The data for this review was requested by the regulator following its concerns that ongoing advice services may not have always been delivered as they should have been. While it might feel like the pressure has let up for ongoing advisers, things are actually more complex. It’s important for those offering ongoing advice to show that they’ve been keeping up with annual client reviews since 2018 and have the right evidence to back it up. [The FCA said: *“Firms should consider our findings and whether they can evidence that they have delivered all the services they were required to deliver, as set out in their contracts or as required by our rules. Consideration should include whether it would be appropriate for them to proactively contact customers to assess if any harm was caused as a result of any identified problems or failings. ”*](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) #### What next? It’s an important time to react proactively to the FCA findings and take action where required. Key areas to consider include: #### Identify areas for redress The FCA has strongly indicated that redress should be payable to the 2% of clients for whom no effort was made to conduct their review, with 2018 earmarked as the year for data analysis to date back to. #### Disengage relevant clients The need for redress is less likely if a client repeatedly declines reviews. However, firms should assess if ongoing reviews really do benefit these disengaged clients, identify low-engagement areas, and create a disengagement strategy to avoid harm. They should also determine the appropriate time to disengage and consider refunding any charges. #### Assess the quality of advice The importance of ongoing advice to a wealth management firm’s business model was acknowledged in the regulator’s findings, but it was reiterated that the advice provided should be of sound quality. Firms need to make this a core component of their business assurance model if they’re not doing so already. The FCA also noted they’ll be looking at how companies have tackled the issues it’s outlined in its findings and will check the steps firms have taken later in the year. So, it’s an important time to ensure suitability reviews are compliant and all the right evidence is ready should the regulator ask for it. #### Embrace automated processes Now it’s opportune for firms to evaluate their practices and explore credible solutions that can enhance the delivery and documentation of their suitability reviews. An effective yet simple approach is to integrate the power of artificial intelligence into your current workflow. [Recordsure technology](/) does this smoothly. Our [automated process checks](/technology/document-intelligence/) that key evidentiary documents have been uploaded to your practice management system and run smoothly in the background – only notifying you when evidence is missing. This then prompts your advisers to follow up on any absent periods of evidence. Our unique machine learning has been established for 13 years and is rapidly trained to understand your documentation style. Plus, it evolves with you – if your ongoing advice document templates and styles change, Recordsure technology adapts. #### Supporting sources - [FCA finds vast majority of ongoing suitability reviews delivered](https://www.fca.org.uk/news/press-releases/fca-finds-vast-majority-ongoing-suitability-reviews-delivered) - [FCA ongoing financial advice services multi-firm review](https://www.fca.org.uk/publications/multi-firm-reviews/ongoing-financial-advice-services) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Firms should assess redress, disengagement, advice quality and automated evidence checks.\n\nIn recent findings from the FCA review of 22 of the largest ongoing advice firms, it was discovered that the \u2018vast majority\u2019 of suitability reviews were delivered as promised. The headline figures state that overall, 83% of reviews were carried out, 15% of clients did not respond or declined a firm\u2019s offer, and in a final 2%, no effort was made to deliver the review.\n\nThe data for this review was requested by the regulator following its concerns that ongoing advice services may not have always been delivered as they should have been.\n\nWhile it might feel like the pressure has let up for ongoing advisers, things are actually more complex. It\u2019s important for those offering ongoing advice to show that they\u2019ve been keeping up with annual client reviews since 2018 and have the right evidence to back it up. 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The headline figures state that overall, 83% of reviews were carried out, 15% of clients did not respond or declined a firm\u2019s offer, and in a final 2%, no effort was made to deliver the review.\n\nThe data for this review was requested by the regulator following its concerns that ongoing advice services may not have always been delivered as they should have been.\n\nWhile it might feel like the pressure has let up for ongoing advisers, things are actually more complex. It\u2019s important for those offering ongoing advice to show that they\u2019ve been keeping up with annual client reviews since 2018 and have the right evidence to back it up. The FCA said: \u201cFirms should consider our findings and whether they can evidence that they have delivered all the services they were required to deliver, as set out in their contracts or as required by our rules. 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Ongoing advice reviews and retirement income advice show how structured records can support better service and decision-making. #### Key points - The FCA has emphasised data quality in Consumer Duty board reporting. - Ongoing advice review data helps firms respond to FCA information requests and serve clients consistently. - Retirement income advice data can help identify decumulation needs, cashflow work and IHT exposure. - External support and AI-driven analytics can help firms improve data quality and evidence outcomes. The FCA has emphasised being a data-led regulator for years. For firms, good quality data not only helps meet regulatory requirements but also improves client outcomes and drives business success. It is therefore an appropriate time for firms to consider how to collate and use their data effectively. #### Ongoing advice reviews [David Boyhan](https://tcc.group/about/meet-the-team/), Technical Director at our sister company [TCC](https://tcc.group/) – a one-stop compliance solutions provider for financial services and regulated industries – considers why the benefits of having valuable data not only helps firms meet FCA requirements but can assist businesses to serve clients better. In December, the FCA highlighted the need for firms to [enhance the quality of their data](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-board-reports-good-practice-and-areas-improvement) concerning Consumer Duty board reports. It stated, “Some firms did not have sufficient data quality to justify conclusions or to give governing bodies adequate assurance that firms are meeting their obligations under the Duty”. Better customer data will not only help with meeting regulatory expectations but will also benefit your business and customers. With this in mind, let’s explore some of the approaches firms can take to accomplish this. *David Boyhan comments: “With the stronger focus on data-driven regulation, now is the perfect time for firms to rethink how they collect and use data.”* For over two years, ongoing advice reviews have been a much-covered topic in the wealth-management arena, with the FCA requesting information on firms’ ability to report on the number of reviews that have been conducted and missed since 2017. Many firms found themselves in a bind, struggling to compile this data within the required timeframe. But suppose you have implemented a new business register or client management system that tracks whether a client is subscribed to an ongoing service, the frequency of their review meetings, the scheduled dates for these reviews, the actual dates they occurred, and the dates of any follow-up reviews. In this case, you will find it straightforward to address any inquiries from the FCA. This set of data ensures your clients receive consistent reviews, enhancing their experience and boosting your business. Review meetings become golden opportunities to gather critical insights, such as identifying clients with protection or inheritance tax (IHT) needs, ultimately leading to satisfied clients, superior outcomes, and a more lucrative business. #### Retirement income advice Retirement income advice also represents a significant opportunity for firms to use enhanced data effectively. For instance, understanding the number of clients in the decumulation phase, those who have undergone cash flow analysis in the past year, and identifying clients at risk of depleting their funds during their lifetime can be highly advantageous. In its Retirement Income thematic review, the FCA has provided a valuable example of data that can be recorded in a new business register, which may include the client’s attitude to risk (ATR) and capacity for loss (CFL). By documenting the client’s total assets, including their primary residence, firms can swiftly pinpoint clients who currently have or may potentially face an IHT liability. Accessing this data easily will facilitate prioritising client engagement before the IHT changes are implemented in 2027. *‘The benefits of meaningful data go far beyond just regulatory compliance,” adds David Boyhan.* #### It's time to act Transforming your processes to enhance your firm’s data, such as refreshing your new business register, may appear daunting initially – yet the benefits are clear. Seeking external support can be a diligent first step, and the [regulatory experts at TCC](https://tcc.group/advisory-services/) are ready to help. Backed by TCC’s regulatory expertise, [Recordsure has developed AI-driven](/) solutions to address financial services’ challenges with superior speed and accuracy. Recordsure technology is unique conversation and document analytics that captures, reviews and analyses 100% of customer interactions for accelerated compliance management and evidencing. #### Supporting sources - [FCA: Consumer Duty board reports, good practice and areas for improvement](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-board-reports-good-practice-and-areas-improvement) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Ongoing advice reviews and retirement income advice show how structured records can support better service and decision-making.\n\nThe FCA has emphasised being a data-led regulator for years. For firms, good quality data not only helps meet regulatory requirements but also improves client outcomes and drives business success. It is therefore an appropriate time for firms to consider how to collate and use their data effectively.\n\nOngoing advice reviews\n\nDavid Boyhan, Technical Director at our sister company TCC \u2013 a one-stop compliance solutions provider for financial services and regulated industries \u2013 considers why the benefits of having valuable data not only helps firms meet FCA requirements but can assist businesses to serve clients better.\n\nIn December, the FCA highlighted the need for firms to enhance the quality of their data concerning Consumer Duty board reports. It stated, \u201cSome firms did not have sufficient data quality to justify conclusions or to give governing bodies adequate assurance that firms are meeting their obligations under the Duty\u201d.\n\nBetter customer data will not only help with meeting regulatory expectations but will also benefit your business and customers. With this in mind, let\u2019s explore some of the approaches firms can take to accomplish this.\n\nDavid Boyhan comments: \u201cWith the stronger focus on data-driven regulation, now is the perfect time for firms to rethink how they collect and use data.\u201d\n\nFor over two years, ongoing advice reviews have been a much-covered topic in the wealth-management arena, with the FCA requesting information on firms\u2019 ability to report on the number of reviews that have been conducted and missed since 2017.\n\nMany firms found themselves in a bind, struggling to compile this data within the required timeframe. But suppose you have implemented a new business register or client management system that tracks whether a client is subscribed to an ongoing service, the frequency of their review meetings, the scheduled dates for these reviews, the actual dates they occurred, and the dates of any follow-up reviews. In this case, you will find it straightforward to address any inquiries from the FCA.\n\nThis set of data ensures your clients receive consistent reviews, enhancing their experience and boosting your business. Review meetings become golden opportunities to gather critical insights, such as identifying clients with protection or inheritance tax (IHT) needs, ultimately leading to satisfied clients, superior outcomes, and a more lucrative business.\n\nRetirement income advice\n\nRetirement income advice also represents a significant opportunity for firms to use enhanced data effectively. For instance, understanding the number of clients in the decumulation phase, those who have undergone cash flow analysis in the past year, and identifying clients at risk of depleting their funds during their lifetime can be highly advantageous.\n\nIn its Retirement Income thematic review, the FCA has provided a valuable example of data that can be recorded in a new business register, which may include the client\u2019s attitude to risk (ATR) and capacity for loss (CFL). By documenting the client\u2019s total assets, including their primary residence, firms can swiftly pinpoint clients who currently have or may potentially face an IHT liability. Accessing this data easily will facilitate prioritising client engagement before the IHT changes are implemented in 2027.\n\n\u2018The benefits of meaningful data go far beyond just regulatory compliance,\u201d adds David Boyhan.\n\nIt's time to act\n\nTransforming your processes to enhance your firm\u2019s data, such as refreshing your new business register, may appear daunting initially \u2013 yet the benefits are clear.\n\nSeeking external support can be a diligent first step, and the regulatory experts at TCC are ready to help. Backed by TCC\u2019s regulatory expertise, Recordsure has developed AI-driven solutions to address financial services\u2019 challenges with superior speed and accuracy. Recordsure technology is unique conversation and document analytics that captures, reviews and analyses 100% of customer interactions for accelerated compliance management and evidencing.", "wordCount": 645, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Customer data quality" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA: Consumer Duty board reports, good practice and areas for improvement", "url": "https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-board-reports-good-practice-and-areas-improvement" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has emphasised being a data-led regulator for years. For firms, good quality data not only helps meet regulatory requirements but also improves client outcomes and drives business success. It is therefore an appropriate time for firms to consider how to collate and use their data effectively." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#webpage" }, "inLanguage": "en-GB", "headline": "Ongoing advice reviews", "text": "David Boyhan, Technical Director at our sister company TCC \u2013 a one-stop compliance solutions provider for financial services and regulated industries \u2013 considers why the benefits of having valuable data not only helps firms meet FCA requirements but can assist businesses to serve clients better.\n\nIn December, the FCA highlighted the need for firms to enhance the quality of their data concerning Consumer Duty board reports. It stated, \u201cSome firms did not have sufficient data quality to justify conclusions or to give governing bodies adequate assurance that firms are meeting their obligations under the Duty\u201d.\n\nBetter customer data will not only help with meeting regulatory expectations but will also benefit your business and customers. With this in mind, let\u2019s explore some of the approaches firms can take to accomplish this.\n\nDavid Boyhan comments: \u201cWith the stronger focus on data-driven regulation, now is the perfect time for firms to rethink how they collect and use data.\u201d\n\nFor over two years, ongoing advice reviews have been a much-covered topic in the wealth-management arena, with the FCA requesting information on firms\u2019 ability to report on the number of reviews that have been conducted and missed since 2017.\n\nMany firms found themselves in a bind, struggling to compile this data within the required timeframe. But suppose you have implemented a new business register or client management system that tracks whether a client is subscribed to an ongoing service, the frequency of their review meetings, the scheduled dates for these reviews, the actual dates they occurred, and the dates of any follow-up reviews. In this case, you will find it straightforward to address any inquiries from the FCA.\n\nThis set of data ensures your clients receive consistent reviews, enhancing their experience and boosting your business. Review meetings become golden opportunities to gather critical insights, such as identifying clients with protection or inheritance tax (IHT) needs, ultimately leading to satisfied clients, superior outcomes, and a more lucrative business." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#webpage" }, "inLanguage": "en-GB", "headline": "Retirement income advice", "text": "Retirement income advice also represents a significant opportunity for firms to use enhanced data effectively. For instance, understanding the number of clients in the decumulation phase, those who have undergone cash flow analysis in the past year, and identifying clients at risk of depleting their funds during their lifetime can be highly advantageous.\n\nIn its Retirement Income thematic review, the FCA has provided a valuable example of data that can be recorded in a new business register, which may include the client\u2019s attitude to risk (ATR) and capacity for loss (CFL). By documenting the client\u2019s total assets, including their primary residence, firms can swiftly pinpoint clients who currently have or may potentially face an IHT liability. Accessing this data easily will facilitate prioritising client engagement before the IHT changes are implemented in 2027.\n\n\u2018The benefits of meaningful data go far beyond just regulatory compliance,\u201d adds David Boyhan." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#webpage" }, "inLanguage": "en-GB", "headline": "It's time to act", "text": "Transforming your processes to enhance your firm\u2019s data, such as refreshing your new business register, may appear daunting initially \u2013 yet the benefits are clear.\n\nSeeking external support can be a diligent first step, and the regulatory experts at TCC are ready to help. Backed by TCC\u2019s regulatory expertise, Recordsure has developed AI-driven solutions to address financial services\u2019 challenges with superior speed and accuracy. Recordsure technology is unique conversation and document analytics that captures, reviews and analyses 100% of customer interactions for accelerated compliance management and evidencing." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-data-benefits/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is customer data important for regulated firms?", "acceptedAnswer": { "@type": "Answer", "text": "Good-quality data helps meet regulatory requirements, improve client outcomes and support business success." } }, { "@type": "Question", "name": "What ongoing advice review data should firms track?", "acceptedAnswer": { "@type": "Answer", "text": "Examples include ongoing service status, review frequency, scheduled review dates, actual meeting dates and follow-up review dates." } }, { "@type": "Question", "name": "How can retirement income advice data help?", "acceptedAnswer": { "@type": "Answer", "text": "It can help identify clients in decumulation, clients needing cashflow analysis and clients who may face inheritance tax liabilities." } }, { "@type": "Question", "name": "What did the FCA say about data quality?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA said some firms lacked sufficient data quality to justify conclusions or assure governing bodies that Consumer Duty obligations were being met." } } ] } ] } ``` ### Seven key topics to ensure the success of your ongoing advisory reviews - URL: https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/ - Published: 2025-02-12 - Modified: 2026-10-09 **Topic:** Ongoing advice reviews Seven ongoing advice standards help firms act before historic servicing issues become larger remediation problems. TCC regulatory expertise and Recordsure automation support evidence-led review, management and oversight. #### Key points - The FCA has scrutinised the ongoing advice service landscape and may provide more detail on expectations. - Seven critical ongoing advice topics give firms a practical review checklist now. - Past issues such as PPI, pension reviews and s166 assessments show how latent risks can grow. - Mishandled ongoing service charges can create collective and individual responsibilities. - TCC and Recordsure combine regulatory expertise, delivery experience and automated AI. The FCA has scrutinised the ongoing advice service landscape and is expected to release more detail about what it expects of wealth management firms. In the interim, Recordsure joined TCC’s regulatory experts to consider proactive steps firms can take now. seven critical topics for ongoing advice standards: a positive start to the customer journey, proactive delivery of ongoing advice, timing of ongoing advice, meeting advice requirements, meeting customers’ information needs, delivering fair value and refund policy. #### The past influencing the present The past shapes the present. PPI claims, pension reviews and s166 assessments often emerge from shortcuts or profit-driven decisions. Those decisions can create hidden risks that remain dormant for years, with consequences magnified by the length of time they have been ignored. Both collective and individual responsibilities may arise when firms mishandle ongoing service charges. The cost of rectifying mistakes can exceed the penalty itself, with individuals also facing liability and reprimand. #### Independent expertise Proactively seeking external expertise is presented as one step firms can take now. TCC and Recordsure bring together regulatory expertise, delivery experience and AI technology for firms addressing ongoing advice challenges. TCC’s consultancy knowledge and Recordsure’s automated AI can help ongoing advice providers review, manage and evidence their ongoing advice services with greater speed and accuracy. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Seven key topics to ensure the success of your ongoing advisory reviews", "item": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/", "name": "Seven key topics to ensure the success of your ongoing advisory reviews", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-02-12T16:56:48+00:00", "dateModified": "2025-02-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-02-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Seven key topics to ensure the success of your ongoing advisory reviews", "datePublished": "2025-02-12T16:56:48+00:00", "dateModified": "2026-10-09T04:50:20+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ea901f5f5ce34d0cac30b02cf2815852/thumbnail-1024-615d61acf514dc62dab15c190a5439b8a23c45b4c8f03fb614a57fbdfd1a296a.png", "description": "Recordsure and TCC set out seven ongoing advice review topics firms can address while awaiting further FCA expectations for wealth management and ongoing servicing.", "inLanguage": "en-GB", "articleBody": "Seven ongoing advice standards help firms act before historic servicing issues become larger remediation problems. TCC regulatory expertise and Recordsure automation support evidence-led review, management and oversight.\n\nThe FCA has scrutinised the ongoing advice service landscape and is expected to release more detail about what it expects of wealth management firms. In the interim, Recordsure joined TCC\u2019s regulatory experts to consider proactive steps firms can take now.\n\nseven critical topics for ongoing advice standards: a positive start to the customer journey, proactive delivery of ongoing advice, timing of ongoing advice, meeting advice requirements, meeting customers\u2019 information needs, delivering fair value and refund policy.\n\nThe past influencing the present\n\nThe past shapes the present. PPI claims, pension reviews and s166 assessments often emerge from shortcuts or profit-driven decisions. Those decisions can create hidden risks that remain dormant for years, with consequences magnified by the length of time they have been ignored.\n\nBoth collective and individual responsibilities may arise when firms mishandle ongoing service charges. The cost of rectifying mistakes can exceed the penalty itself, with individuals also facing liability and reprimand.\n\nIndependent expertise\n\nProactively seeking external expertise is presented as one step firms can take now. TCC and Recordsure bring together regulatory expertise, delivery experience and AI technology for firms addressing ongoing advice challenges.\n\nTCC\u2019s consultancy knowledge and Recordsure\u2019s automated AI can help ongoing advice providers review, manage and evidence their ongoing advice services with greater speed and accuracy.", "wordCount": 238, "keywords": [ "Insurance", "Pensions", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Pensions", "url": "https://recordsure.com/sector/pensions/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice reviews" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Pensions" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has scrutinised the ongoing advice service landscape and is expected to release more detail about what it expects of wealth management firms. In the interim, Recordsure joined TCC\u2019s regulatory experts to consider proactive steps firms can take now.\n\nseven critical topics for ongoing advice standards: a positive start to the customer journey, proactive delivery of ongoing advice, timing of ongoing advice, meeting advice requirements, meeting customers\u2019 information needs, delivering fair value and refund policy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "The past influencing the present", "text": "The past shapes the present. PPI claims, pension reviews and s166 assessments often emerge from shortcuts or profit-driven decisions. Those decisions can create hidden risks that remain dormant for years, with consequences magnified by the length of time they have been ignored.\n\nBoth collective and individual responsibilities may arise when firms mishandle ongoing service charges. The cost of rectifying mistakes can exceed the penalty itself, with individuals also facing liability and reprimand." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Independent expertise", "text": "Proactively seeking external expertise is presented as one step firms can take now. TCC and Recordsure bring together regulatory expertise, delivery experience and AI technology for firms addressing ongoing advice challenges.\n\nTCC\u2019s consultancy knowledge and Recordsure\u2019s automated AI can help ongoing advice providers review, manage and evidence their ongoing advice services with greater speed and accuracy." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seven-topics-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What prompted the seven topics?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has scrutinised ongoing advice services and is expected to provide more detail on what it expects from wealth management firms." } }, { "@type": "Question", "name": "What topics are listed?", "acceptedAnswer": { "@type": "Answer", "text": "The seven topics are the customer journey, proactive delivery, timing, advice requirements, customer information needs, fair value and refund policy." } }, { "@type": "Question", "name": "Why do PPI and pension reviews matter here?", "acceptedAnswer": { "@type": "Answer", "text": "PPI and pension reviews show how risks can grow when firms take shortcuts or make profit-led decisions." } }, { "@type": "Question", "name": "What support do TCC and Recordsure provide?", "acceptedAnswer": { "@type": "Answer", "text": "It says they combine regulatory expertise, delivery experience and automated AI to help firms review, manage and evidence ongoing advice services." } } ] } ] } ``` ### Tracking the essential evidence for your ongoing advice reviews - URL: https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/ - Published: 2025-01-16 - Modified: 2026-10-09 **Topic:** Ongoing advice evidence Ongoing advice reviews need clear evidence, not only completed processes. FCA supervisory pressure, common adviser questions and Recordsure technology all point to the need for better documentation and review evidence. #### Key points - The FCA’s supervisory style is described as “show me, don’t tell me”. - Practice management systems may show a review occurred but not whether all documentation is in place. - Advisers are asking how to evidence reviews, refunds, fees and delivered value. - Recordsure technology is positioned as a way to track evidence and identify advice gaps. [The changes in the FCA’s supervisory style, guided by the Consumer Duty, continue to impact the financial services sector as we settle into the new year.](https://www.fca.org.uk/publication/correspondence/portfolio-letter-advisers-intermediaries-2024.pdf) With its “show me, don’t tell me” approach, the regulator can ask for detailed information and data from firms at a moment’s notice. Therefore, boards should regularly check the data to ensure it covers all compliance aspects and shows positive customer outcomes. #### The importance of data In particular, ongoing advice services is currently a hot regulatory topic. Even firms with a stellar track record in service reviews find it tricky to back this up with solid evidence and data. While practice management systems might show a review is done, confirming the necessary documentation is often not so simple. As we wait for more guidance from the FCA on best practice for ongoing advice reviews, many firms are wondering what proactive steps they should be taking right now. As it’s anticipated ongoing advice will be a key regulatory focus for some time, in conjunction with the regulatory experts at [TCC](https://tcc.group/), Recordsure has considered these common questions and compiled seven critical topics for ongoing service providers to take stock of. #### Tracking the evidence Keeping track that the right evidence is stored for your assets under advice clients will be an integral spoke in the regulatory wheel, and so it’s a critical time to put this into practice. And that’s where the [**Recordsure technology**](/) solution can help. Continually enhanced over its 13 years on the market, our solution has satisfied regulators in the UK and Australia for large scale remediation projects such as: Document Intelligence processed 1m+ years of ongoing service fees, 90m documents and checked £4bn service fees . By integrating Recordsure technology into your workflow, you can relax knowing that smooth background checks are in place, and you’ll be alerted if there are any advice gaps that need your attention. #### Supporting sources - [FCA portfolio letter for advisers and intermediaries](https://www.fca.org.uk/publication/correspondence/portfolio-letter-advisers-intermediaries-2024.pdf) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Tracking the essential evidence for your ongoing advice reviews", "item": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/", "name": "Tracking the essential evidence for your ongoing advice reviews", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2025-01-16T11:21:18+00:00", "dateModified": "2025-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2025-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Tracking the essential evidence for your ongoing advice reviews", "datePublished": "2025-01-16T11:21:18+00:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/49a6629a1190439ca85c711ddf038771/thumbnail-1024-73e87bbf25ed3d84cc14ebec9e40279b828e013dfbb97cb2683303629db38430.png", "description": "Firms providing ongoing advice need accessible evidence and data to show reviews were completed, value was delivered and regulatory expectations were met.", "inLanguage": "en-GB", "articleBody": "Ongoing advice reviews need clear evidence, not only completed processes. FCA supervisory pressure, common adviser questions and Recordsure technology all point to the need for better documentation and review evidence.\n\nThe changes in the FCA\u2019s supervisory style, guided by the Consumer Duty, continue to impact the financial services sector as we settle into the new year.\n\nWith its \u201cshow me, don\u2019t tell me\u201d approach, the regulator can ask for detailed information and data from firms at a moment\u2019s notice. Therefore, boards should regularly check the data to ensure it covers all compliance aspects and shows positive customer outcomes.\n\nThe importance of data\n\nIn particular, ongoing advice services is currently a hot regulatory topic. Even firms with a stellar track record in service reviews find it tricky to back this up with solid evidence and data. While practice management systems might show a review is done, confirming the necessary documentation is often not so simple. As we wait for more guidance from the FCA on best practice for ongoing advice reviews, many firms are wondering what proactive steps they should be taking right now.\n\nAs it\u2019s anticipated ongoing advice will be a key regulatory focus for some time, in conjunction with the regulatory experts at TCC, Recordsure has considered these common questions and compiled seven critical topics for ongoing service providers to take stock of.\n\nTracking the evidence\n\nKeeping track that the right evidence is stored for your assets under advice clients will be an integral spoke in the regulatory wheel, and so it\u2019s a critical time to put this into practice.\n\nAnd that\u2019s where the Recordsure technology solution can help. Continually enhanced over its 13 years on the market, our solution has satisfied regulators in the UK and Australia for large scale remediation projects such as: Document Intelligence processed 1m+ years of ongoing service fees, 90m documents and checked \u00a34bn service fees\u200b .\n\nBy integrating Recordsure technology into your workflow, you can relax knowing that smooth background checks are in place, and you\u2019ll be alerted if there are any advice gaps that need your attention.", "wordCount": 345, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice evidence" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA portfolio letter for advisers and intermediaries", "url": "https://www.fca.org.uk/publication/correspondence/portfolio-letter-advisers-intermediaries-2024.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "text": "The changes in the FCA\u2019s supervisory style, guided by the Consumer Duty, continue to impact the financial services sector as we settle into the new year.\n\nWith its \u201cshow me, don\u2019t tell me\u201d approach, the regulator can ask for detailed information and data from firms at a moment\u2019s notice. Therefore, boards should regularly check the data to ensure it covers all compliance aspects and shows positive customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "headline": "The importance of data", "text": "In particular, ongoing advice services is currently a hot regulatory topic. Even firms with a stellar track record in service reviews find it tricky to back this up with solid evidence and data. While practice management systems might show a review is done, confirming the necessary documentation is often not so simple. 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Continually enhanced over its 13 years on the market, our solution has satisfied regulators in the UK and Australia for large scale remediation projects such as: Document Intelligence processed 1m+ years of ongoing service fees, 90m documents and checked \u00a34bn service fees\u200b .\n\nBy integrating Recordsure technology into your workflow, you can relax knowing that smooth background checks are in place, and you\u2019ll be alerted if there are any advice gaps that need your attention." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/essential-evidence-ongoing-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does a good ongoing advice review need to evidence?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need solid evidence and data, because practice management systems may show a review was completed without confirming that all necessary documentation is in place." } }, { "@type": "Question", "name": "When should advisers consider refunds or switching off fees?", "acceptedAnswer": { "@type": "Answer", "text": "No threshold is given here. Recordsure and TCC identify refunds and fee switching as common questions for financial advisers, with the expert guide covering further topics for ongoing service providers to consider." } }, { "@type": "Question", "name": "How can firms demonstrate that ongoing advice delivers value?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need evidence and data that covers compliance aspects and shows positive customer outcomes." } }, { "@type": "Question", "name": "What evidence does Recordsure say its technology has processed?", "acceptedAnswer": { "@type": "Answer", "text": "Document Intelligence processed 1m+ years of ongoing service fees, 90m documents and checked \u00a34bn service fees." } } ] } ] } ``` ### Key priorities in FCA update: ongoing advice services and retirement income advice - URL: https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/ - Published: 2024-10-14 - Modified: 2026-10-09 **Topic:** Advice oversight The FCA’s portfolio strategy letter puts ongoing advice services and retirement income advice under renewed scrutiny. Firms need evidence that services are delivered, outcomes are suitable and records support oversight. #### Key points - The FCA portfolio letter highlights ongoing advice services and retirement income advice as priorities. - Ongoing advice revenue has increased, raising questions about fair value and delivered services. - CEOs must review systems and controls against the retirement income advice thematic findings. - Firms need clear records of communications, reviews, outcomes and due diligence. Our colleagues at TCC Group have unveiled their expert insights on the recent portfolio strategy letter from the FCA, which was released on the 7th October 2024. This crucial communication outlines the future roadmap and expectations for financial advisers and investment intermediaries over the upcoming two years. Within it, the FCA has highlighted two primary areas of focus: ongoing advice services and retirement income advice. #### Ongoing advice services The FCA’s recent findings reveal a dramatic increase in the proportion of ongoing advice revenue within firms, leaping from 60% in 2016 to 80% in 2023. Plus, an expected rise to 90% as new clients engage in ongoing advisery agreements is expected. This surge has highlighted the potential that some firms could be overlooking the actual value and cost-effectiveness of their ongoing advice services, leading to clients potentially being charged for services that fall short of delivering fair value. Therefore, it is vital that firms ensure they deliver tailored advice that aligns with each client’s specific needs and the terms that have been agreed upon. The FCA will closely scrutinise advisers and intermediaries to confirm clients are not overcharged for services they do not receive and to verify that proper record-keeping and oversight practices are in place. #### Retirement income advice The FCA has directed attention to its [Thematic Review of Retirement Income Advice letter](https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-thematic-review-retirement-income-advice.pdf) from March 2024. CEOs must guarantee that their firms have thoroughly reviewed and updated their systems and controls in line with the thematic review findings. The FCA will continue its evaluations to determine if firms are achieving favourable client outcomes in this field. With the extensive guidance that the regulator has provided, firms have no room for excuses in meeting the FCA’s standards. [Read the full TCC insight here](https://tcc.group/blog/2024/10/08/portfolio-strategy-letter-oct24/) #### A proactive approach In accordance with these regulatory guidelines, the responsibility lies squarely with financial advice firms to maintain thorough records of client communications, reviews, and outcomes. Ensuring that customer advice is delivered appropriately and cost-effectively is essential, as is having evidence of due diligence when reviews are due. While many businesses might consider increasing personnel to manage ongoing advice reviews, Recordsure technology offers a practical and economical alternative. This innovative solution replaces outdated, labour-intensive processes with efficient processes. #### Supporting sources - [FCA portfolio letter for advisers and intermediaries](https://www.fca.org.uk/publication/correspondence/portfolio-letter-advisers-intermediaries-2024.pdf) - [FCA Thematic Review of Retirement Income Advice letter](https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-thematic-review-retirement-income-advice.pdf) - [TCC portfolio strategy letter insight](https://tcc.group/blog/2024/10/08/portfolio-strategy-letter-oct24/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Key priorities in FCA update: ongoing advice services and retirement income advice", "item": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/", "name": "Key priorities in FCA update: ongoing advice services and retirement income advice", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-10-14T14:50:53+01:00", "dateModified": "2024-10-25T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-10-25" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Key priorities in FCA update: ongoing advice services and retirement income advice", "datePublished": "2024-10-14T14:50:53+01:00", "dateModified": "2026-10-09T04:50:16+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/966e8bea8a204fa0993294f2b40e8e12/thumbnail-1024-c39edffa99c8b6dd8b02f64c49317ca882716438552edd574cf63ac068b8cf60.png", "description": "FCA outlined the roadmap and expectations for financial advisers and investment firms. AI helps firms evidence ongoing advice reviews.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s portfolio strategy letter puts ongoing advice services and retirement income advice under renewed scrutiny. Firms need evidence that services are delivered, outcomes are suitable and records support oversight.\n\nOur colleagues at TCC Group have unveiled their expert insights on the recent portfolio strategy letter from the FCA, which was released on the 7th October 2024. This crucial communication outlines the future roadmap and expectations for financial advisers and investment intermediaries over the upcoming two years.\n\nWithin it, the FCA has highlighted two primary areas of focus: ongoing advice services and retirement income advice.\n\nOngoing advice services\n\nThe FCA\u2019s recent findings reveal a dramatic increase in the proportion of ongoing advice revenue within firms, leaping from 60% in 2016 to 80% in 2023. Plus, an expected rise to 90% as new clients engage in ongoing advisery agreements is expected. This surge has highlighted the potential that some firms could be overlooking the actual value and cost-effectiveness of their ongoing advice services, leading to clients potentially being charged for services that fall short of delivering fair value.\n\nTherefore, it is vital that firms ensure they deliver tailored advice that aligns with each client\u2019s specific needs and the terms that have been agreed upon.\n\nThe FCA will closely scrutinise advisers and intermediaries to confirm clients are not overcharged for services they do not receive and to verify that proper record-keeping and oversight practices are in place.\n\nRetirement income advice\n\nThe FCA has directed attention to its Thematic Review of Retirement Income Advice letter from March 2024.\n\nCEOs must guarantee that their firms have thoroughly reviewed and updated their systems and controls in line with the thematic review findings. The FCA will continue its evaluations to determine if firms are achieving favourable client outcomes in this field.\n\nWith the extensive guidance that the regulator has provided, firms have no room for excuses in meeting the FCA\u2019s standards.\n\nRead the full TCC insight here\n\nA proactive approach\n\nIn accordance with these regulatory guidelines, the responsibility lies squarely with financial advice firms to maintain thorough records of client communications, reviews, and outcomes. Ensuring that customer advice is delivered appropriately and cost-effectively is essential, as is having evidence of due diligence when reviews are due.\n\nWhile many businesses might consider increasing personnel to manage ongoing advice reviews, Recordsure technology offers a practical and economical alternative. This innovative solution replaces outdated, labour-intensive processes with efficient processes.", "wordCount": 400, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA portfolio letter for advisers and intermediaries", "url": "https://www.fca.org.uk/publication/correspondence/portfolio-letter-advisers-intermediaries-2024.pdf" }, { "@type": "CreativeWork", "name": "FCA Thematic Review of Retirement Income Advice letter", "url": "https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-thematic-review-retirement-income-advice.pdf" }, { "@type": "CreativeWork", "name": "TCC portfolio strategy letter insight", "url": "https://tcc.group/blog/2024/10/08/portfolio-strategy-letter-oct24/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "inLanguage": "en-GB", "text": "Our colleagues at TCC Group have unveiled their expert insights on the recent portfolio strategy letter from the FCA, which was released on the 7th October 2024. This crucial communication outlines the future roadmap and expectations for financial advisers and investment intermediaries over the upcoming two years.\n\nWithin it, the FCA has highlighted two primary areas of focus: ongoing advice services and retirement income advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Ongoing advice services", "text": "The FCA\u2019s recent findings reveal a dramatic increase in the proportion of ongoing advice revenue within firms, leaping from 60% in 2016 to 80% in 2023. Plus, an expected rise to 90% as new clients engage in ongoing advisery agreements is expected. This surge has highlighted the potential that some firms could be overlooking the actual value and cost-effectiveness of their ongoing advice services, leading to clients potentially being charged for services that fall short of delivering fair value.\n\nTherefore, it is vital that firms ensure they deliver tailored advice that aligns with each client\u2019s specific needs and the terms that have been agreed upon.\n\nThe FCA will closely scrutinise advisers and intermediaries to confirm clients are not overcharged for services they do not receive and to verify that proper record-keeping and oversight practices are in place." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "inLanguage": "en-GB", "headline": "Retirement income advice", "text": "The FCA has directed attention to its Thematic Review of Retirement Income Advice letter from March 2024.\n\nCEOs must guarantee that their firms have thoroughly reviewed and updated their systems and controls in line with the thematic review findings. The FCA will continue its evaluations to determine if firms are achieving favourable client outcomes in this field.\n\nWith the extensive guidance that the regulator has provided, firms have no room for excuses in meeting the FCA\u2019s standards.\n\nRead the full TCC insight here" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "inLanguage": "en-GB", "headline": "A proactive approach", "text": "In accordance with these regulatory guidelines, the responsibility lies squarely with financial advice firms to maintain thorough records of client communications, reviews, and outcomes. Ensuring that customer advice is delivered appropriately and cost-effectively is essential, as is having evidence of due diligence when reviews are due.\n\nWhile many businesses might consider increasing personnel to manage ongoing advice reviews, Recordsure technology offers a practical and economical alternative. This innovative solution replaces outdated, labour-intensive processes with efficient processes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/key-priorities-in-fca-update-ongoing-advice-services-and-retirement-income-advice/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What are the FCA priorities?", "acceptedAnswer": { "@type": "Answer", "text": "The priorities are ongoing advice services and retirement income advice." } }, { "@type": "Question", "name": "Why are ongoing advice services under scrutiny?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is checking whether clients are overcharged for services they do not receive and whether oversight records are adequate." } }, { "@type": "Question", "name": "What should advice firms evidence?", "acceptedAnswer": { "@type": "Answer", "text": "They should maintain records of client communications, reviews, outcomes and due diligence when reviews are due." } } ] } ] } ``` ### How advice firms should navigate the AI journey - URL: https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/ - Published: 2024-09-18 - Modified: 2026-10-09 **Topic:** AI choices Financial advice firms face many AI options, but it is often unclear what kind of AI is being promoted. Firms need to identify the right type for their business. #### Key points - Financial advice firms have a growing range of AI solutions available. - It is often unclear which type of AI is being promoted. - There are two main types of AI to consider. - Firms need to identify which type is right for their business. There are numerous new AI solutions available for financial advice firms, offering a range of choices. However, it is often unclear which type of AI is being promoted and whether it suits a firm’s needs. There are two main types of AI, and firms need to identify which one is right for their business. Recordsure’s CEO, Joe Norburn, discussed the topic in [Money Marketing](https://www.moneymarketing.co.uk/news/684256-2/). #### Supporting sources - [Money Marketing](https://www.moneymarketing.co.uk/news/684256-2/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How advice firms should navigate the AI journey", "item": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#webpage", "url": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/", "name": "How advice firms should navigate the AI journey", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-09-18T14:26:36+01:00", "dateModified": "2024-09-18T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-09-18" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How advice firms should navigate the AI journey", "datePublished": "2024-09-18T14:26:36+01:00", "dateModified": "2026-10-09T04:50:28+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ee256128d9644b49b0ddc85792249463/thumbnail-1024-78841d03ca7aeb6d994d870f4fd9aaef66f536780d2bb0d4957b6a56573f4989.png", "description": "Advice firms need to understand which type of AI they are considering before adopting new solutions.", "inLanguage": "en-GB", "articleBody": "Financial advice firms face many AI options, but it is often unclear what kind of AI is being promoted. 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However, it is often unclear which type of AI is being promoted and whether it suits a firm\u2019s needs.\n\nThere are two main types of AI, and firms need to identify which one is right for their business. Recordsure\u2019s CEO, Joe Norburn, discussed the topic in Money Marketing." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/how-advice-firms-should-navigate-the-ai-journey/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What AI challenge do advice firms face?", "acceptedAnswer": { "@type": "Answer", "text": "Advice firms face many AI solutions, but it can be unclear which type of AI is being promoted and whether it fits their needs." } }, { "@type": "Question", "name": "How many main types of AI should firms understand?", "acceptedAnswer": { "@type": "Answer", "text": "There are two main types of AI." } }, { "@type": "Question", "name": "Who wrote the linked Money Marketing article?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s CEO, Joe Norburn, wrote the linked Money Marketing piece." } } ] } ] } ``` ### Two-way integration provides intelliflo users with quality of advice AI analysis - URL: https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/ - Published: 2024-09-05 - Modified: 2026-10-09 **Topic:** intelliflo integration Recordsure’s Document Intelligence integration with intelliflo office supports final advice reviews by analysing quality, compiling records, updating client files and escalating cases where human oversight is needed. #### Key points - Recordsure partnered with intelliflo to support digital transformation in wealth management. - Document Intelligence integrated with intelliflo office in January 2024 to enhance final advice reviews. - Post-advice, intelliflo syncs with Recordsure to analyse quality, compile records and update client files. - The integration helps compare what was said with what was documented for Consumer Duty outcomes. - Sector-specific predictive AI is presented as better suited to compliance review than generative content tools. Earlier this year, Recordsure partnered with intelliflo, a global leader in advice technology, to accelerate digital transformation in the wealth management sector. The potential for AI to support financial advice alongside human expertise has been widely discussed across the industry. Recordsure’s Chief Technology Officer Kit Ruparel spoke with intelliflo about how Recordsure’s Document Intelligence solution is available in intelliflo office. The partnership gives intelliflo users an opportunity to use AI to improve advice review efficiency and support fair customer outcomes. #### Virtual oversight [Document Intelligence](/) integrated with intelliflo office in January 2024 to enhance final advice reviews. Post-advice, intelliflo syncs with Recordsure to analyse quality, compile records and update client files. Where necessary, cases can be escalated for human oversight. Recordsure technology enables virtual oversight of adviser-client interactions while providing management information to identify trends and support training. #### Consumer Duty success The FCA’s Consumer Duty has increased documentation workload for review teams. AI tools such as Document Intelligence can provide a cost-effective way for firms to keep documents saved in intelliflo office for compliance access. By comparing what was said with what was documented, firms can better meet the Consumer Duty customer understanding and customer support outcomes. #### The future of AI in financial advice AI is expected to transform financial services by automating tasks and freeing experts to focus where their attention is most needed. Firms should use sector-specific AI for financial advice compliance. Generative AI tools such as ChatGPT are designed for content creation, while financial advice compliance requires a different approach. [traditional predictive AI is suited to analysing patterns and using information to support forecasts and decisions](https://www.coursera.org/articles/generative-ai-vs-predictive-ai). Recordsure’s traditional AI has been developed over 12 years to support accuracy, process review efficiency and regulatory compliance. Document Intelligence helps free human time for the work where expertise is required. #### Pre- and post-sale service cases Recordsure and intelliflo office can transfer service cases at both pre-sale and post-sale stages into Document Intelligence. Automation supports file review teams and compiles QA evidential records, which are reintegrated into intelliflo office. #### Supporting sources - [FCA request for information on ongoing advice services and Consumer Duty](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) - [Coursera explainer on generative AI and predictive AI](https://www.coursera.org/articles/generative-ai-vs-predictive-ai) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Two-way integration provides intelliflo users with quality of advice AI analysis", "item": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/", "name": "Two-way integration provides intelliflo users with quality of advice AI analysis", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-09-05T10:25:54+01:00", "dateModified": "2024-09-05T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-09-05" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Two-way integration provides intelliflo users with quality of advice AI analysis", "datePublished": "2024-09-05T10:25:54+01:00", "dateModified": "2026-10-09T04:50:20+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3e130b3b0b54430396c1e9e1bd98896a/thumbnail-1024-2f465d31cd35cf2445232f9216555d17a0414431ab6deea8aeb0b6752edcaf60.png", "description": "Recordsure\u2019s integration with intelliflo office supports advice review teams by transferring service cases, analysing quality, compiling evidence records and escalating cases for human oversight where needed.", "inLanguage": "en-GB", "articleBody": "Recordsure\u2019s Document Intelligence integration with intelliflo office supports final advice reviews by analysing quality, compiling records, updating client files and escalating cases where human oversight is needed.\n\nEarlier this year, Recordsure partnered with intelliflo, a global leader in advice technology, to accelerate digital transformation in the wealth management sector. The potential for AI to support financial advice alongside human expertise has been widely discussed across the industry.\n\nRecordsure\u2019s Chief Technology Officer Kit Ruparel spoke with intelliflo about how Recordsure\u2019s Document Intelligence solution is available in intelliflo office. The partnership gives intelliflo users an opportunity to use AI to improve advice review efficiency and support fair customer outcomes.\n\nVirtual oversight\n\nDocument Intelligence integrated with intelliflo office in January 2024 to enhance final advice reviews. Post-advice, intelliflo syncs with Recordsure to analyse quality, compile records and update client files.\n\nWhere necessary, cases can be escalated for human oversight. Recordsure technology enables virtual oversight of adviser-client interactions while providing management information to identify trends and support training.\n\nConsumer Duty success\n\nThe FCA\u2019s Consumer Duty has increased documentation workload for review teams. AI tools such as Document Intelligence can provide a cost-effective way for firms to keep documents saved in intelliflo office for compliance access.\n\nBy comparing what was said with what was documented, firms can better meet the Consumer Duty customer understanding and customer support outcomes.\n\nThe future of AI in financial advice\n\nAI is expected to transform financial services by automating tasks and freeing experts to focus where their attention is most needed. Firms should use sector-specific AI for financial advice compliance.\n\nGenerative AI tools such as ChatGPT are designed for content creation, while financial advice compliance requires a different approach. traditional predictive AI is suited to analysing patterns and using information to support forecasts and decisions.\n\nRecordsure\u2019s traditional AI has been developed over 12 years to support accuracy, process review efficiency and regulatory compliance. Document Intelligence helps free human time for the work where expertise is required.\n\nPre- and post-sale service cases\n\nRecordsure and intelliflo office can transfer service cases at both pre-sale and post-sale stages into Document Intelligence. Automation supports file review teams and compiles QA evidential records, which are reintegrated into intelliflo office.", "wordCount": 364, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "intelliflo integration" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA request for information on ongoing advice services and Consumer Duty", "url": "https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty" }, { "@type": "CreativeWork", "name": "Coursera explainer on generative AI and predictive AI", "url": "https://www.coursera.org/articles/generative-ai-vs-predictive-ai" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "text": "Earlier this year, Recordsure partnered with intelliflo, a global leader in advice technology, to accelerate digital transformation in the wealth management sector. The potential for AI to support financial advice alongside human expertise has been widely discussed across the industry.\n\nRecordsure\u2019s Chief Technology Officer Kit Ruparel spoke with intelliflo about how Recordsure\u2019s Document Intelligence solution is available in intelliflo office. The partnership gives intelliflo users an opportunity to use AI to improve advice review efficiency and support fair customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "headline": "Virtual oversight", "text": "Document Intelligence integrated with intelliflo office in January 2024 to enhance final advice reviews. Post-advice, intelliflo syncs with Recordsure to analyse quality, compile records and update client files.\n\nWhere necessary, cases can be escalated for human oversight. Recordsure technology enables virtual oversight of adviser-client interactions while providing management information to identify trends and support training." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "headline": "Consumer Duty success", "text": "The FCA\u2019s Consumer Duty has increased documentation workload for review teams. AI tools such as Document Intelligence can provide a cost-effective way for firms to keep documents saved in intelliflo office for compliance access.\n\nBy comparing what was said with what was documented, firms can better meet the Consumer Duty customer understanding and customer support outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "headline": "The future of AI in financial advice", "text": "AI is expected to transform financial services by automating tasks and freeing experts to focus where their attention is most needed. Firms should use sector-specific AI for financial advice compliance.\n\nGenerative AI tools such as ChatGPT are designed for content creation, while financial advice compliance requires a different approach. traditional predictive AI is suited to analysing patterns and using information to support forecasts and decisions.\n\nRecordsure\u2019s traditional AI has been developed over 12 years to support accuracy, process review efficiency and regulatory compliance. Document Intelligence helps free human time for the work where expertise is required." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "headline": "Pre- and post-sale service cases", "text": "Recordsure and intelliflo office can transfer service cases at both pre-sale and post-sale stages into Document Intelligence. Automation supports file review teams and compiles QA evidential records, which are reintegrated into intelliflo office." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/seamless-two-way-integration-provides-intelliflo-users-with-quality-of-advice-ai-analysis/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is the integration designed to do?", "acceptedAnswer": { "@type": "Answer", "text": "It transfers service cases from intelliflo office to Recordsure\u2019s Document Intelligence for quality analysis and evidential record compilation." } }, { "@type": "Question", "name": "When did Document Intelligence integrate with intelliflo office?", "acceptedAnswer": { "@type": "Answer", "text": "Document Intelligence integrated with intelliflo office in January 2024." } }, { "@type": "Question", "name": "How does it support Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "It helps firms compare what was said with what was documented, supporting customer understanding and customer support outcomes." } }, { "@type": "Question", "name": "Why distinguish predictive AI from generative AI?", "acceptedAnswer": { "@type": "Answer", "text": "Compliance review needs pattern analysis and evidence-led decision support rather than content creation alone." } } ] } ] } ``` ### How financial advisers can embrace the evolving landscape - URL: https://recordsure.com/insights/analysis-and-perspective/how-financial-advisers-can-embrace-the-evolving-landscape/ - Published: 2024-07-25 - Modified: 2026-10-09 **Topic:** Adviser compliance AI Panel takeaways on AI in financial advice stress human verification, clear AI policies, support for vulnerable customers and accurate records across adviser conversations. #### Key points - Generative AI outputs need human verification for compliance use. - Firms need a clear AI policy and client safety controls. - AI can help identify and support customers who may be vulnerable. - Accurate records across 100% of conversations support evidential oversight. - AI can help firms evidence advice up to 80% faster. [Earlier this month, TCC and Recordsure founder Joanne Smith spoke as part of an expert panel at the Artificial Intelligence in Financial Advice conference to consider how AI can help with adviser compliance. Here are some of the key takeaways from the discussion](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) #### AI with humans in the loop Whilst the boom of Generative AI (GenAI) tools offers a wide range of fresh solutions to financial services firms, the newfound choice can be overwhelming. Businesses should approach deployment of AI tools responsibly and consider how they want to use them. For example, the output of GenAI tools – unlike Predictive AI solutions – is not suited for decision making or compliance purposes without verifying the data and facts it creates by a human (human in the loop). For firms embracing AI tools as part of their day-to-day practice, it’s important to have a clear AI policy that explains the implementation of AI across the business and its responsible use. This includes documenting and evidencing processes and procedures whilst conveying the controls that are in place to maintain client safety. Although there is currently no AI regulator, firms might expect for this to change down the line. In the meantime, firms must demonstrate their effective procedures to the FCA. #### Appropriate care for customers with characteristics of vulnerability There’s scope for AI to help identify and ensure fair treatment for customers who may be or could become vulnerable. But it’s by no means a ‘one size fits all’ approach. GenAI can perform some tasks well, whereas other responsibilities may be better suited to Predictive AI functionality. A combination of the two can be immensely powerful indeed. Such measures will help firms measure KPIs instead of relying on traditional methods like complaint data and file checking. #### Accurately recording advice There is so much to be learnt from the conversations that advisers have with their clients. And the first crucial step is to ensure accurate records are kept across 100% of conversations – which is where solutions like Recordsure’s Capture app can help. AI can then be deployed to monitor and analyse what’s been spoken about in these conversations to provide evidential oversight for financial advisers. This approach is being adopted by many firms but there’s still a long way to go. As the FCA’s Consumer Duty outlines, firms must be able to evidence to the regulator that they are giving appropriate advice to their clients – by utilising AI, financial service firms can do this better and up to 80% faster. Now is the time to break free from time-consuming, manual procedures and empower your talented team to concentrate on the tasks that they do best. #### Supporting sources - [Earlier this month, TCC and Recordsure founder Joanne Smith spoke as part of an expert panel at the Artificial Intelligence in Financial Advice conference to consider how AI can help with adviser compliance. Here are some of the key takeaways from the discussion](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Here are some of the key takeaways from the discussion\n\nAI with humans in the loop\n\nWhilst the boom of Generative AI (GenAI) tools offers a wide range of fresh solutions to financial services firms, the newfound choice can be overwhelming. Businesses should approach deployment of AI tools responsibly and consider how they want to use them. For example, the output of GenAI tools \u2013 unlike Predictive AI solutions \u2013 is not suited for decision making or compliance purposes without verifying the data and facts it creates by a human (human in the loop).\n\nFor firms embracing AI tools as part of their day-to-day practice, it\u2019s important to have a clear AI policy that explains the implementation of AI across the business and its responsible use. 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For example, the output of GenAI tools \u2013 unlike Predictive AI solutions \u2013 is not suited for decision making or compliance purposes without verifying the data and facts it creates by a human (human in the loop).\n\nFor firms embracing AI tools as part of their day-to-day practice, it\u2019s important to have a clear AI policy that explains the implementation of AI across the business and its responsible use. This includes documenting and evidencing processes and procedures whilst conveying the controls that are in place to maintain client safety.\n\nAlthough there is currently no AI regulator, firms might expect for this to change down the line. 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Such measures will help firms measure KPIs instead of relying on traditional methods like complaint data and file checking." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-financial-advisers-can-embrace-the-evolving-landscape/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-financial-advisers-can-embrace-the-evolving-landscape/#webpage" }, "inLanguage": "en-GB", "headline": "Accurately recording advice", "text": "There is so much to be learnt from the conversations that advisers have with their clients. And the first crucial step is to ensure accurate records are kept across 100% of conversations \u2013 which is where solutions like Recordsure\u2019s Capture app can help.\n\nAI can then be deployed to monitor and analyse what\u2019s been spoken about in these conversations to provide evidential oversight for financial advisers. This approach is being adopted by many firms but there\u2019s still a long way to go. As the FCA\u2019s Consumer Duty outlines, firms must be able to evidence to the regulator that they are giving appropriate advice to their clients \u2013 by utilising AI, financial service firms can do this better and up to 80% faster.\n\nNow is the time to break free from time-consuming, manual procedures and empower your talented team to concentrate on the tasks that they do best." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-financial-advisers-can-embrace-the-evolving-landscape/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-financial-advisers-can-embrace-the-evolving-landscape/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How should firms treat Generative AI outputs?", "acceptedAnswer": { "@type": "Answer", "text": "It says they are not suited for decision-making or compliance purposes unless a human verifies the data and facts." } }, { "@type": "Question", "name": "What should an AI policy cover?", "acceptedAnswer": { "@type": "Answer", "text": "It should explain implementation and responsible use, document processes and procedures, and set out controls for client safety." } }, { "@type": "Question", "name": "How can AI help with vulnerable customers?", "acceptedAnswer": { "@type": "Answer", "text": "AI can help identify customers who may be vulnerable and support fair treatment, although different AI approaches may suit different tasks." } }, { "@type": "Question", "name": "Why are accurate conversation records important?", "acceptedAnswer": { "@type": "Answer", "text": "Accurate records across 100% of conversations allow AI to monitor and analyse what was discussed, supporting evidential oversight for advisers." } } ] } ] } ``` ### How AI can improve financial advice compliance - URL: https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/ - Published: 2024-07-23 - Modified: 2026-10-09 **Topic:** Advice compliance AI Financial advice firms need evidence that ongoing advice, servicing and review activity meet regulatory expectations. Recordsure technology combines captured conversations and document review to build customer timelines, identify missing evidence and support outcome judgements. #### Key points - The FCA expects firms to use data to monitor and evidence customer outcomes under Consumer Duty. - Conversation capture creates a reliable record of adviser and client interactions, including offline recordings. - Document Intelligence can check service periods, key documents and evidence across full advice histories. - Predictive AI supports human QA teams by identifying files and conversations that need attention. - Recordsure’s Australian work processed ninety million documents and reduced case handling time by over 80%. The pressure on financial advisers to demonstrate the quality and compliance of their advice is a matter of regulatory compliance and of protecting clients’ financial wellbeing. Since Consumer Duty came into force, the FCA has placed emphasis on firms using data to identify, monitor and confirm that customer outcomes are consistent with the Duty. Ongoing advice providers face particular scrutiny while the industry awaits the FCA’s review of 20 of the largest advice firms. The regulator is considering how many clients were due a review and how many actually received one. At the Artificial Intelligence in Financial Advice conference, Recordsure’s Chief Technology Officer Kit Ruparel and Chief Product and Commercial Officer Garry Evans explained how Recordsure’s established AI solution can help businesses evidence advice reviews, onboarding and ongoing servicing. The discussion covered long-standing capabilities used by firms for over 12 years and newer developments such as [AI meeting notes](/technology/conversation-intelligence/). The pertinence of this issue is pressing for ongoing advice providers, because the review findings will test whether firms can validate that customers received the service they were due. The conference discussion showed that efficient evidencing and advice reviews are practical hurdles, not abstract topics. #### Full oversight of customer conversations An accurate record of client and adviser conversations is central to advice oversight, whether those conversations happen in person or remotely. [Recordsure’s Capture app](/technology/conversation-intelligence/) creates a secure, patented record of spoken interactions and can record offline when no internet connection is available. Once captured, hundreds or thousands of hours of conversations can be reviewed using AI, which would otherwise require a major increase in human resource. Recordsure’s [Document Intelligence](/technology/conversation-intelligence/) can score and assess conversations so QA teams can focus on the conversations where potential problems have been identified. #### Review your back-book and prevent future issues Document Intelligence provides an automated approach to ongoing servicing validation. It has checked over one million years of ongoing advice collectively, equating to billions of pounds in ongoing service charges. Recordsure distinguishes this approach from generative AI tools that create content. Its technology uses traditional and predictive artificial intelligence to understand data so firms can use information efficiently, meet regulatory standards and support better customer outcomes. #### Transform customer oversight for assets under advice For over a decade, Document Intelligence has supported financial services firms in day-to-day activities ranging from ongoing servicing to full suitability checking. It has been trained by specialist teams over millions of data points and thousands of cases for use by tier 1 banks and the UK government. - Documents, including transcripts from conversations recorded by Capture, are ingested automatically from practice management systems such as intelliflo, Xplan or SharePoint. - Users can browse documents quickly in the Document Intelligence portal without downloading them. - The system reads a document to establish whether it is a fact find, suitability report or another relevant document type. - The AI reads document content to identify the issue date, allowing the system to build a timeline of events. - Once document type and date are identified, the system can automate checking of key documents on file for every service period across 100% of cases. - Service periods without corresponding documentation can be identified for immediate consideration for redress. - A deeper service provision check can organise relevant content from the whole case into summary themes, such as customer interaction evidence or conclusion evidence. These summary themes can display sections of documents, interview dates, fact find completion, product calculator results, research documents and areas that show advice was provided. The process also lets users consider service periods, documentation gaps and evidence from across the entire case without downloading files from the portal. This gives QA teams a fuller picture of customer circumstances and the basis for advice. #### Understand your full customer timeline for accurate outcomes Document Intelligence can rapidly build a customer advice timeline and provide the information a firm needs to make an outcome judgement. It can also be configured with different system and AI model settings for full suitability review checking. The system does not pass data to OpenAI or third parties. Information stays within the UK Microsoft Azure tenancy provided for clients. #### Reduce client handling times Recordsure’s team addressed ongoing advice service charge issues for tier 1 wealth managers in Australia. Document Intelligence processed and analysed over ninety million documents and files, spanning approximately one million years of client advice history and totalling more than £1 billion in client advice fees. The work also helped the firm reduce its case handling time by over 80%, showing how a document-led oversight model can support large-scale review activity. #### Supporting sources - [FCA request for information on delivery of ongoing advice services and Consumer Duty](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) - [FCA Consumer Duty implementation: good practice and areas for improvement](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-implementation-good-practice-and-areas-improvement) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Recordsure technology helps teams review customer timelines, identify gaps and focus human oversight where it is needed.", "inLanguage": "en-GB", "articleBody": "Financial advice firms need evidence that ongoing advice, servicing and review activity meet regulatory expectations. Recordsure technology combines captured conversations and document review to build customer timelines, identify missing evidence and support outcome judgements.\n\nThe pressure on financial advisers to demonstrate the quality and compliance of their advice is a matter of regulatory compliance and of protecting clients\u2019 financial wellbeing. Since Consumer Duty came into force, the FCA has placed emphasis on firms using data to identify, monitor and confirm that customer outcomes are consistent with the Duty.\n\nOngoing advice providers face particular scrutiny while the industry awaits the FCA\u2019s review of 20 of the largest advice firms. The regulator is considering how many clients were due a review and how many actually received one.\n\nAt the Artificial Intelligence in Financial Advice conference, Recordsure\u2019s Chief Technology Officer Kit Ruparel and Chief Product and Commercial Officer Garry Evans explained how Recordsure\u2019s established AI solution can help businesses evidence advice reviews, onboarding and ongoing servicing. The discussion covered long-standing capabilities used by firms for over 12 years and newer developments such as AI meeting notes.\n\nThe pertinence of this issue is pressing for ongoing advice providers, because the review findings will test whether firms can validate that customers received the service they were due. The conference discussion showed that efficient evidencing and advice reviews are practical hurdles, not abstract topics.\n\nFull oversight of customer conversations\n\nAn accurate record of client and adviser conversations is central to advice oversight, whether those conversations happen in person or remotely. Recordsure\u2019s Capture app creates a secure, patented record of spoken interactions and can record offline when no internet connection is available.\n\nOnce captured, hundreds or thousands of hours of conversations can be reviewed using AI, which would otherwise require a major increase in human resource. Recordsure\u2019s Document Intelligence can score and assess conversations so QA teams can focus on the conversations where potential problems have been identified.\n\nReview your back-book and prevent future issues\n\nDocument Intelligence provides an automated approach to ongoing servicing validation. It has checked over one million years of ongoing advice collectively, equating to billions of pounds in ongoing service charges.\n\nRecordsure distinguishes this approach from generative AI tools that create content. Its technology uses traditional and predictive artificial intelligence to understand data so firms can use information efficiently, meet regulatory standards and support better customer outcomes.\n\nTransform customer oversight for assets under advice\n\nFor over a decade, Document Intelligence has supported financial services firms in day-to-day activities ranging from ongoing servicing to full suitability checking. It has been trained by specialist teams over millions of data points and thousands of cases for use by tier 1 banks and the UK government.\n\n\u2022 Documents, including transcripts from conversations recorded by Capture, are ingested automatically from practice management systems such as intelliflo, Xplan or SharePoint.\n\u2022 Users can browse documents quickly in the Document Intelligence portal without downloading them.\n\u2022 The system reads a document to establish whether it is a fact find, suitability report or another relevant document type.\n\u2022 The AI reads document content to identify the issue date, allowing the system to build a timeline of events.\n\u2022 Once document type and date are identified, the system can automate checking of key documents on file for every service period across 100% of cases.\n\u2022 Service periods without corresponding documentation can be identified for immediate consideration for redress.\n\u2022 A deeper service provision check can organise relevant content from the whole case into summary themes, such as customer interaction evidence or conclusion evidence.\n\nThese summary themes can display sections of documents, interview dates, fact find completion, product calculator results, research documents and areas that show advice was provided.\n\nThe process also lets users consider service periods, documentation gaps and evidence from across the entire case without downloading files from the portal. This gives QA teams a fuller picture of customer circumstances and the basis for advice.\n\nUnderstand your full customer timeline for accurate outcomes\n\nDocument Intelligence can rapidly build a customer advice timeline and provide the information a firm needs to make an outcome judgement. It can also be configured with different system and AI model settings for full suitability review checking.\n\nThe system does not pass data to OpenAI or third parties. Information stays within the UK Microsoft Azure tenancy provided for clients.\n\nReduce client handling times\n\nRecordsure\u2019s team addressed ongoing advice service charge issues for tier 1 wealth managers in Australia. Document Intelligence processed and analysed over ninety million documents and files, spanning approximately one million years of client advice history and totalling more than \u00a31 billion in client advice fees.\n\nThe work also helped the firm reduce its case handling time by over 80%, showing how a document-led oversight model can support large-scale review activity.", "wordCount": 796, "keywords": [ "Banking", "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice compliance AI" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA request for information on delivery of ongoing advice services and Consumer Duty", "url": "https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty" }, { "@type": "CreativeWork", "name": "FCA Consumer Duty implementation: good practice and areas for improvement", "url": "https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-implementation-good-practice-and-areas-improvement" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "text": "The pressure on financial advisers to demonstrate the quality and compliance of their advice is a matter of regulatory compliance and of protecting clients\u2019 financial wellbeing. Since Consumer Duty came into force, the FCA has placed emphasis on firms using data to identify, monitor and confirm that customer outcomes are consistent with the Duty.\n\nOngoing advice providers face particular scrutiny while the industry awaits the FCA\u2019s review of 20 of the largest advice firms. The regulator is considering how many clients were due a review and how many actually received one.\n\nAt the Artificial Intelligence in Financial Advice conference, Recordsure\u2019s Chief Technology Officer Kit Ruparel and Chief Product and Commercial Officer Garry Evans explained how Recordsure\u2019s established AI solution can help businesses evidence advice reviews, onboarding and ongoing servicing. The discussion covered long-standing capabilities used by firms for over 12 years and newer developments such as AI meeting notes.\n\nThe pertinence of this issue is pressing for ongoing advice providers, because the review findings will test whether firms can validate that customers received the service they were due. The conference discussion showed that efficient evidencing and advice reviews are practical hurdles, not abstract topics." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Full oversight of customer conversations", "text": "An accurate record of client and adviser conversations is central to advice oversight, whether those conversations happen in person or remotely. Recordsure\u2019s Capture app creates a secure, patented record of spoken interactions and can record offline when no internet connection is available.\n\nOnce captured, hundreds or thousands of hours of conversations can be reviewed using AI, which would otherwise require a major increase in human resource. Recordsure\u2019s Document Intelligence can score and assess conversations so QA teams can focus on the conversations where potential problems have been identified." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Review your back-book and prevent future issues", "text": "Document Intelligence provides an automated approach to ongoing servicing validation. It has checked over one million years of ongoing advice collectively, equating to billions of pounds in ongoing service charges.\n\nRecordsure distinguishes this approach from generative AI tools that create content. Its technology uses traditional and predictive artificial intelligence to understand data so firms can use information efficiently, meet regulatory standards and support better customer outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Transform customer oversight for assets under advice", "text": "For over a decade, Document Intelligence has supported financial services firms in day-to-day activities ranging from ongoing servicing to full suitability checking. It has been trained by specialist teams over millions of data points and thousands of cases for use by tier 1 banks and the UK government.\n\n\u2022 Documents, including transcripts from conversations recorded by Capture, are ingested automatically from practice management systems such as intelliflo, Xplan or SharePoint.\n\u2022 Users can browse documents quickly in the Document Intelligence portal without downloading them.\n\u2022 The system reads a document to establish whether it is a fact find, suitability report or another relevant document type.\n\u2022 The AI reads document content to identify the issue date, allowing the system to build a timeline of events.\n\u2022 Once document type and date are identified, the system can automate checking of key documents on file for every service period across 100% of cases.\n\u2022 Service periods without corresponding documentation can be identified for immediate consideration for redress.\n\u2022 A deeper service provision check can organise relevant content from the whole case into summary themes, such as customer interaction evidence or conclusion evidence.\n\nThese summary themes can display sections of documents, interview dates, fact find completion, product calculator results, research documents and areas that show advice was provided.\n\nThe process also lets users consider service periods, documentation gaps and evidence from across the entire case without downloading files from the portal. This gives QA teams a fuller picture of customer circumstances and the basis for advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Understand your full customer timeline for accurate outcomes", "text": "Document Intelligence can rapidly build a customer advice timeline and provide the information a firm needs to make an outcome judgement. It can also be configured with different system and AI model settings for full suitability review checking.\n\nThe system does not pass data to OpenAI or third parties. Information stays within the UK Microsoft Azure tenancy provided for clients." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Reduce client handling times", "text": "Recordsure\u2019s team addressed ongoing advice service charge issues for tier 1 wealth managers in Australia. Document Intelligence processed and analysed over ninety million documents and files, spanning approximately one million years of client advice history and totalling more than \u00a31 billion in client advice fees.\n\nThe work also helped the firm reduce its case handling time by over 80%, showing how a document-led oversight model can support large-scale review activity." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/revolutionise-with-ai/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does ongoing advice evidence matter?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA expects firms to use data to monitor customer outcomes and is reviewing whether clients due ongoing advice reviews received them." } }, { "@type": "Question", "name": "How does Capture support advice oversight?", "acceptedAnswer": { "@type": "Answer", "text": "Capture records spoken adviser and client interactions securely, including offline, so firms have a reliable record for later review." } }, { "@type": "Question", "name": "What does Document Intelligence check?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies document types and dates, builds advice timelines, checks key documents for each service period and highlights missing evidence." } }, { "@type": "Question", "name": "Where is client data processed?", "acceptedAnswer": { "@type": "Answer", "text": "Information stays within the UK Microsoft Azure tenancy provided for clients and is not passed to OpenAI or third parties." } } ] } ] } ``` ### Recordsure launches free AI meeting notes - URL: https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/ - Published: 2024-07-10 - Modified: 2026-10-09 **Topic:** AI meeting notes Recordsure launched a free AI meeting notes solution for clients and released open-source Microsoft Azure OpenAI code. The launch sets out the productivity case, human validation requirement and cost context for generated meeting notes. #### Key points - Recordsure launched AI meeting notes free of charge for all Recordsure clients. - The feature can make post-meeting client administration 80% faster than traditional manual methods. - Recordsure also released open-source AI meeting code for Microsoft Azure OpenAI. - AI-generated notes used for decision-making or evidence must be validated by a human. - Secure Azure OpenAI generation can cost about 1.6p or 2¢ per transcript hour. Recordsure launched a new AI meeting notes solution, available free of charge to all Recordsure clients. The feature allows financial services firms to turn client conversations into compliant, actionable summaries, achievable 80% faster than traditional manual administration methods. Recordsure also released open-source AI meeting code for Microsoft Azure OpenAI to everyone for free, levelling the GenAI meeting notes playing field. The financial advice industry has faced scrutiny from clients and regulators, with firms under pressure to deliver advice with greater transparency. Recordsure technology solutions help advice firms record client conversations and evidence advice in a compliant way, while providing tools to improve productivity and speed up client administration processes. With Recordsure technology meeting notes, firms can increase operational efficiencies and create meeting summaries 80% faster, freeing adviser time for client work. #### Recordsure technology meeting notes The new free Recordsure technology meeting notes solution reduces the time advisers need to spend on administration tasks, supporting firm profitability without requiring team growth. By removing the need to write notes in meetings, Recordsure technology reduces post-meeting administration for advisers and paraplanners. It integrates with practice management systems and helps firms create structured, standardised meeting summaries with consistency and accuracy. #### Human validation for decision-making and evidence Since GPT-based large language models were introduced two years ago, many AI-generated meeting note solutions have entered the market with different output potential and stated future capabilities. If an advice firm wants to use AI-generated meeting notes for decision-making or as evidence, those notes must be validated by a human, such as an adviser or paraplanner. Many GenAI meeting notes solutions leave advice firms with incomplete or inaccurate meeting summaries, with outputs unsuitable for use in client advice. Firms can also be left out of pocket, while the current cost price to generate an industry-specific, topic-separated meeting note with secure OpenAI GPT models hosted on Microsoft Azure is about 1.6p (GBP), or 2¢ (USD), per transcript hour. Recordsure says this is why it is making AI meeting notes accessible to all for free. #### Free to Recordsure clients Recordsure technology meeting note generation is included within Recordsure’s Capture solution for recording face-to-face and online conversations, bundled free with conversation transcripts. Clients using Recordsure’s more advanced Conversation Intelligence tools receive higher-quality outputs and solutions to verify meeting notes efficiently. This turns client conversations into compliant, actionable summaries suitable for decision-making, again at no extra cost. Recordsure’s ready-to-use AI technology is rapid to deploy and integrates with practice management systems. Recordsure has over 12 years of experience with AI and is established with advice firms, tier 1 banks and the UK government. #### Open-source AI meeting code Recordsure released open-source AI meeting code for Microsoft Azure OpenAI so firms can experiment with generating AI meeting summaries and explore the abilities and drawbacks of unvalidated GenAI meeting notes tools for free. For disclosure and transparency, the AI meeting generator code, like any GPT-based AI meeting note product from any vendor, includes a disclaimer that a human must verify the output before relying on its content for customer or advice action. This aligns with the [Recordsure Responsible AI policy,](/responsible-ai/) UK GDPR and EU AI Act policies. Recordsure’s open-source code for GPT-based AI meeting notes is available on [Github](https://github.com/tccgroup/VTTMeetingNoteGenerator). > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure launches free AI meeting notes", "item": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage", "url": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/", "name": "Recordsure launches free AI meeting notes", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-07-10T07:00:54+01:00", "dateModified": "2024-08-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-13" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure launches free AI meeting notes", "datePublished": "2024-07-10T07:00:54+01:00", "dateModified": "2026-10-09T04:50:33+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": null, "description": "Recordsure launched free AI meeting notes for clients and released open-source Microsoft Azure OpenAI code for firms exploring generated meeting summaries.", "inLanguage": "en-GB", "articleBody": "Recordsure launched a free AI meeting notes solution for clients and released open-source Microsoft Azure OpenAI code. The launch sets out the productivity case, human validation requirement and cost context for generated meeting notes.\n\nRecordsure launched a new AI meeting notes solution, available free of charge to all Recordsure clients.\n\nThe feature allows financial services firms to turn client conversations into compliant, actionable summaries, achievable 80% faster than traditional manual administration methods. Recordsure also released open-source AI meeting code for Microsoft Azure OpenAI to everyone for free, levelling the GenAI meeting notes playing field.\n\nThe financial advice industry has faced scrutiny from clients and regulators, with firms under pressure to deliver advice with greater transparency. Recordsure technology solutions help advice firms record client conversations and evidence advice in a compliant way, while providing tools to improve productivity and speed up client administration processes.\n\nWith Recordsure technology meeting notes, firms can increase operational efficiencies and create meeting summaries 80% faster, freeing adviser time for client work.\n\nRecordsure technology meeting notes\n\nThe new free Recordsure technology meeting notes solution reduces the time advisers need to spend on administration tasks, supporting firm profitability without requiring team growth.\n\nBy removing the need to write notes in meetings, Recordsure technology reduces post-meeting administration for advisers and paraplanners. It integrates with practice management systems and helps firms create structured, standardised meeting summaries with consistency and accuracy.\n\nHuman validation for decision-making and evidence\n\nSince GPT-based large language models were introduced two years ago, many AI-generated meeting note solutions have entered the market with different output potential and stated future capabilities.\n\nIf an advice firm wants to use AI-generated meeting notes for decision-making or as evidence, those notes must be validated by a human, such as an adviser or paraplanner.\n\nMany GenAI meeting notes solutions leave advice firms with incomplete or inaccurate meeting summaries, with outputs unsuitable for use in client advice. Firms can also be left out of pocket, while the current cost price to generate an industry-specific, topic-separated meeting note with secure OpenAI GPT models hosted on Microsoft Azure is about 1.6p (GBP), or 2\u00a2 (USD), per transcript hour.\n\nRecordsure says this is why it is making AI meeting notes accessible to all for free.\n\nFree to Recordsure clients\n\nRecordsure technology meeting note generation is included within Recordsure\u2019s Capture solution for recording face-to-face and online conversations, bundled free with conversation transcripts.\n\nClients using Recordsure\u2019s more advanced Conversation Intelligence tools receive higher-quality outputs and solutions to verify meeting notes efficiently. This turns client conversations into compliant, actionable summaries suitable for decision-making, again at no extra cost.\n\nRecordsure\u2019s ready-to-use AI technology is rapid to deploy and integrates with practice management systems. Recordsure has over 12 years of experience with AI and is established with advice firms, tier 1 banks and the UK government.\n\nOpen-source AI meeting code\n\nRecordsure released open-source AI meeting code for Microsoft Azure OpenAI so firms can experiment with generating AI meeting summaries and explore the abilities and drawbacks of unvalidated GenAI meeting notes tools for free.\n\nFor disclosure and transparency, the AI meeting generator code, like any GPT-based AI meeting note product from any vendor, includes a disclaimer that a human must verify the output before relying on its content for customer or advice action. This aligns with the Recordsure Responsible AI policy, UK GDPR and EU AI Act policies.\n\nRecordsure\u2019s open-source code for GPT-based AI meeting notes is available on Github.", "wordCount": 568, "keywords": [ "Banking", "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI meeting notes" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-4" }, { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure launched a new AI meeting notes solution, available free of charge to all Recordsure clients.\n\nThe feature allows financial services firms to turn client conversations into compliant, actionable summaries, achievable 80% faster than traditional manual administration methods. Recordsure also released open-source AI meeting code for Microsoft Azure OpenAI to everyone for free, levelling the GenAI meeting notes playing field.\n\nThe financial advice industry has faced scrutiny from clients and regulators, with firms under pressure to deliver advice with greater transparency. Recordsure technology solutions help advice firms record client conversations and evidence advice in a compliant way, while providing tools to improve productivity and speed up client administration processes.\n\nWith Recordsure technology meeting notes, firms can increase operational efficiencies and create meeting summaries 80% faster, freeing adviser time for client work." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure technology meeting notes", "text": "The new free Recordsure technology meeting notes solution reduces the time advisers need to spend on administration tasks, supporting firm profitability without requiring team growth.\n\nBy removing the need to write notes in meetings, Recordsure technology reduces post-meeting administration for advisers and paraplanners. It integrates with practice management systems and helps firms create structured, standardised meeting summaries with consistency and accuracy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "headline": "Human validation for decision-making and evidence", "text": "Since GPT-based large language models were introduced two years ago, many AI-generated meeting note solutions have entered the market with different output potential and stated future capabilities.\n\nIf an advice firm wants to use AI-generated meeting notes for decision-making or as evidence, those notes must be validated by a human, such as an adviser or paraplanner.\n\nMany GenAI meeting notes solutions leave advice firms with incomplete or inaccurate meeting summaries, with outputs unsuitable for use in client advice. Firms can also be left out of pocket, while the current cost price to generate an industry-specific, topic-separated meeting note with secure OpenAI GPT models hosted on Microsoft Azure is about 1.6p (GBP), or 2\u00a2 (USD), per transcript hour.\n\nRecordsure says this is why it is making AI meeting notes accessible to all for free." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "headline": "Free to Recordsure clients", "text": "Recordsure technology meeting note generation is included within Recordsure\u2019s Capture solution for recording face-to-face and online conversations, bundled free with conversation transcripts.\n\nClients using Recordsure\u2019s more advanced Conversation Intelligence tools receive higher-quality outputs and solutions to verify meeting notes efficiently. This turns client conversations into compliant, actionable summaries suitable for decision-making, again at no extra cost.\n\nRecordsure\u2019s ready-to-use AI technology is rapid to deploy and integrates with practice management systems. Recordsure has over 12 years of experience with AI and is established with advice firms, tier 1 banks and the UK government." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "headline": "Open-source AI meeting code", "text": "Recordsure released open-source AI meeting code for Microsoft Azure OpenAI so firms can experiment with generating AI meeting summaries and explore the abilities and drawbacks of unvalidated GenAI meeting notes tools for free.\n\nFor disclosure and transparency, the AI meeting generator code, like any GPT-based AI meeting note product from any vendor, includes a disclaimer that a human must verify the output before relying on its content for customer or advice action. This aligns with the Recordsure Responsible AI policy, UK GDPR and EU AI Act policies.\n\nRecordsure\u2019s open-source code for GPT-based AI meeting notes is available on Github." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-launches-free-ai-meeting-notes/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who can access Recordsure\u2019s AI meeting notes solution?", "acceptedAnswer": { "@type": "Answer", "text": "It is available free of charge to all Recordsure clients." } }, { "@type": "Question", "name": "How much faster can the feature make post-meeting administration?", "acceptedAnswer": { "@type": "Answer", "text": "The feature can make post-meeting client administration 80% faster than traditional manual methods." } }, { "@type": "Question", "name": "When must AI-generated meeting notes be validated by a human?", "acceptedAnswer": { "@type": "Answer", "text": "They must be validated by a human if an advice firm wants to use them for decision-making or as evidence." } }, { "@type": "Question", "name": "What open-source code did Recordsure release?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure released open-source AI meeting code for Microsoft Azure OpenAI so firms can experiment with generating meeting summaries." } }, { "@type": "Question", "name": "What does it cost to generate industry-specific meeting notes?", "acceptedAnswer": { "@type": "Answer", "text": "Generating an industry-specific, topic-separated meeting note with secure Azure-hosted OpenAI GPT models costs about 1.6p or 2\u00a2 per transcript hour." } } ] } ] } ``` ### The 2¢ AI summary meeting note - URL: https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/ - Published: 2024-07-09 - Modified: 2026-10-09 **Topic:** AI meeting notes GPT-based meeting summaries can be cheap to generate, but every output must be verified by a human before client action. Generative summaries differ from predictive AI that can find, classify and evidence source content. #### Key points - GPT-based meeting summaries cost about 1.6p to generate securely on Microsoft Azure. - GPT summaries must be thoroughly verified by a human before client action. - Generative AI is good at generating text but unreliable for finding and understanding content. - Conversation Intelligence can mark up recordings and transcripts by topic to support efficient checking. - Responsible AI, UK GDPR and EU AI Act considerations shape the governance of meeting-note tools. GPT-based meeting summaries, such as those based on OpenAI’s Large Language Models, cost about 1.6p GBP to generate securely on Microsoft Azure. However, GPT summaries must be thoroughly verified by a human, such as an adviser or paraplanner, before any client action is taken based on their content. Kit Ruparel, Recordsure’s CTO, explains the practicalities, limits and regulation around generative AI technology. Recordsure has released a complete AI meeting note generator as open-source code for organisations that want to experiment with their own conversation summaries before selecting a vendor or using GPT-based meeting notes in business practice. #### The innovation In 2011, Nick D’Aloisio became the youngest recipient of venture capital funding for an app that could turn lengthy text into concise summaries. Less than 2 years later, he sold Summly to Yahoo for an estimated $30m before his 18th birthday. Companies such as Otter.ai and Notiv, later acquired by Dubber in 2021, saw the potential to use generative AI to summarise Microsoft Teams meeting recordings into notes and actions. Microsoft Teams now bundles a similar feature with its premium edition. The appeal is clear: participants can talk without having to take meeting notes, supported by companies that built products to reduce the burden of online meetings. In 2020, OpenAI announced API access to early GPT LLM AI models. The market took little notice until late 2022, when ChatGPT and accompanying GPT improvements were released, followed by competing APIs and models from Google, Anthropic, Mistral, Baidu and others. This changed the economics of building meeting summarisers. A vendor no longer needed a proprietary model trained over many years by expert data scientists using transcript labels crafted by human annotators. A junior developer could adapt online how-to code to an industry sector, creating a new wave of products and hype. As with many new technologies, excitement can lead to false promises before practical use becomes clear. Using Gartner’s Hype Cycle terminology, the Peak of Inflated Expectations must pass through the Trough of Disillusionment before reaching the Plateau of Productivity. #### Responsible hype In Gartner’s [July 2023 Hype Cycle chart for Generative AI](https://www.gartner.com/en/articles/what-s-new-in-artificial-intelligence-from-the-2023-gartner-hype-cycle), the technology was placed at the peak of inflated expectations and estimated to be five to ten years from the Plateau of Productivity. many AI experts would not strongly disagree with that status or timeline. how many GPT-based vendors are honest about the technology’s pros and cons, or explain current limits and responsible use at the start of a sales call. The answer is rarely, if ever. Recordsure describes itself as a responsible AI provider and says it talks daily to current and potential clients about what the technology can achieve. The experiences shared with Recordsure include early trials of GPT-based AI products that went nowhere after six months: expensive, time-consuming experiments in early-stage technology that did not meet promises. One bank was experimenting with its third vendor and repeating the cycle. This was not a surprise to Recordsure. The rules for AI-generated meeting notes are the same as for other applications: generative AI is good at generating text because that is what it is designed for, but today’s generative AI is not good at finding or understanding content and is error-prone when forced into that use case. To reliably find and categorise written content from transcripts or documents, there is not yet a shortcut to labelling large volumes of text and having expert data scientists design and test deep neural networks. That process creates a predictive AI product whose accuracy can be measured and qualified. Hype Cycle image credit in the input is [By Olga Tarkovskiy – Own work, CC BY-SA 3.0](https://commons.wikimedia.org/w/index.php?curid=27546041). #### Is there value to a GPT-created meeting summary? The industry desire for accurate AI meeting summaries is valid, and Recordsure does not dismiss the value of partially accurate meeting summaries. We need to recognise the limits of GPT-created summaries, be realistic about their utility and put adequate [responsible](/responsible-ai/) controls around their use. A GPT-generated meeting summary from any vendor will not be fully accurate. It may miss important points, misinterpret content it finds and make things up. If a draft AI meeting note is given to a meeting participant, such as a financial adviser or government inspector, that person can correct it from memory and refer to the recording or transcript where memory is uncertain. This can produce a high-quality outcome and save time because the notes do not need to be created from scratch. If the draft goes straight to the back office for an administrator or paraplanner who did not attend the meeting, that person needs access to the original recording and transcript to create an authoritative summary or populate documents and systems such as a Fact Find, practice management system or CRM. Without additional tooling, this can be inefficient because the reviewer must effectively review the whole conversation to check the note. It may be nearly as fast to type it from scratch. Meeting notes with citations can help verify what the AI found and how it interpreted the transcript or recording. However, citations can give a false sense of security. GPT citations often work by seeking evidence for what the system wants to say, and may ignore conflicting information. For example, if a customer first says they want to invest £50,000 and later says they want to invest £35,000 after discussing emergency funds, a GPT meeting summary may point randomly to one figure and cite only the transcript source that supports its conclusion. Citations also do not identify what the AI missed. Without other tools, the reviewer must still check the whole conversation record. This is where traditional, data-scientist-built, properly trained and tested predictive AI has a role. Recordsure’s Conversation Intelligence can accurately and thematically mark up the original recording and transcript by topic so reviewers can find and check what is, or is not, in the AI meeting note and ignore the rest of the recording safely. #### Will AI-generated meeting notes improve? AI-generated meeting notes will improve, but it is unlikely that purely generative AI or GPT-based solutions will make major gains over the next few years. Instead, improvement will come from companies that annotate many thousands of hours of recordings with millions of labels, then build, train and test deep learning models to find and interpret conversations in the same way a human would. In this model, generative AI stays in its place by turning final AI findings into human-readable summary bullets. #### How can I judge the quality of AI meeting notes today? AI meeting notes have a place and can provide efficiencies if used correctly and responsibly. Recordsure says clients using the latest Capture solution will receive GPT-based meeting notes free with their transcript. Clients using more advanced Conversation Intelligence tools will also receive higher-quality outputs and tools to verify meeting notes in the back office more efficiently. For organisations that want basic GPT notes, Recordsure has open-sourced code for generating meeting notes using OpenAI models within their own Microsoft Azure tenancy. Organisations can try it with Microsoft Teams or Zoom transcripts without concerns about data security or transcript redaction. GPT-based meeting note vendors use the same underlying technology, even if they choose different GPT models. The free code is therefore likely to represent the methods and outputs available from others. Recordsure has made it possible to customise prompts used to generate the summary and topics, similar to the playground vendors use to tailor meeting notes. The cost of generating an AI meeting note securely in an organisation’s own Azure tenancy is about 1.6p GBP, or 2¢ USD, for a 1-hour meeting. This leaves budget to contract a software developer for a few hours if help is needed to get started. The code is available on Recordsure’s GitHub repository [here](https://github.com/tccgroup/VTTMeetingNoteGenerator). #### Other generative AI product visions Some vendors offer GPT notes with future capabilities such as automatically completing Fact Find documentation, populating PMS or CRM fields directly, or drafting suitability letters and other client documents. Because everything the AI produces needs human verification, firms should examine how any pre-population of documents or records fits into their qualification workflow. For automatically creating suitability letters, this output warns firms not to forget the purpose of financial advice. They use specialist calculators, tools to examine appropriate products, and suitably qualified advisers and paraplanners for a reason. One head of a wealth management organisation, approached by a vendor claiming a future route from meeting recording straight to suitability report preparation, said: “However good the tech might become, it’s just not feasible in practice. They’ve forgotten about *advice*. We might as well be providing robo-advice.” #### Laws and regulation to know After covering how AI meeting summaries should and should not be used, firms must consider [Responsible AI](/responsible-ai/) and emerging regulation and law in their territory. A GPT-created meeting note summary is an AI output and should be thoroughly verified by a human before any client advice is provided or any client decision is taken based on it. The UK GDPR restricts solely automated decisions that have a legal or similarly significant effect on individuals. The UK government framework for AI regulation, adopted by the FCA, goes further on transparency and trustworthiness, warning about autonomous decisions and requiring controls for safety, transparency, explainability, contestability and redress. The EU AI Act, recently passed into European law, addresses human agency and oversight. It categorises AI systems used to determine access to financial products, using credit-scoring as an example, as high risk. That requires both product vendor and product user to register such systems with the European Commission and monitor and report on their controlled use, unless the AI output does not materially influence decision-making and the system is intended only for a task preparatory to a human assessment. #### In summary AI-generated meeting summaries are an emerging technology. Products built around GPT LLMs are only partially accurate, but they can still be useful where firms have appropriate human verification processes and additional tooling to make review and correction efficient. Firms should try before they buy, especially with recordings of true customer meetings that the vendor has not previously seen, or to experiment with Recordsure’s open-source code to understand strengths and limits. Finally, firms should establish governance and controls for use of the technology and update their Responsible AI policy if they have not reviewed it recently. the images accompanying it, except for the hype cycle, were created with generative AI, while all words were human. #### Supporting sources - [Gartner Hype Cycle for Generative AI, July 2023](https://www.gartner.com/en/articles/what-s-new-in-artificial-intelligence-from-the-2023-gartner-hype-cycle) - [Hype Cycle image credit by Olga Tarkovskiy](https://commons.wikimedia.org/w/index.php?curid=27546041) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The 2\u00a2 AI summary meeting note", "item": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/", "name": "The 2\u00a2 AI summary meeting note", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-07-09T05:44:30+01:00", "dateModified": "2024-08-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The 2\u00a2 AI summary meeting note", "datePublished": "2024-07-09T05:44:30+01:00", "dateModified": "2026-10-09T04:50:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/54fcd32f09b144b6b535026e9936b001/thumbnail-1024-faf9b0550e02b79246a314d3e3a92b3928b70663b99a3568c5b03a45c3875e86.png", "description": "Kit Ruparel explains the cost, limits and responsible use of GPT-based meeting summaries, and why human verification and predictive AI remain essential for regulated decisions.", "inLanguage": "en-GB", "articleBody": "GPT-based meeting summaries can be cheap to generate, but every output must be verified by a human before client action. Generative summaries differ from predictive AI that can find, classify and evidence source content.\n\nGPT-based meeting summaries, such as those based on OpenAI\u2019s Large Language Models, cost about 1.6p GBP to generate securely on Microsoft Azure. However, GPT summaries must be thoroughly verified by a human, such as an adviser or paraplanner, before any client action is taken based on their content.\n\nKit Ruparel, Recordsure\u2019s CTO, explains the practicalities, limits and regulation around generative AI technology. Recordsure has released a complete AI meeting note generator as open-source code for organisations that want to experiment with their own conversation summaries before selecting a vendor or using GPT-based meeting notes in business practice.\n\nThe innovation\n\nIn 2011, Nick D\u2019Aloisio became the youngest recipient of venture capital funding for an app that could turn lengthy text into concise summaries. Less than 2 years later, he sold Summly to Yahoo for an estimated $30m before his 18th birthday.\n\nCompanies such as Otter.ai and Notiv, later acquired by Dubber in 2021, saw the potential to use generative AI to summarise Microsoft Teams meeting recordings into notes and actions. Microsoft Teams now bundles a similar feature with its premium edition.\n\nThe appeal is clear: participants can talk without having to take meeting notes, supported by companies that built products to reduce the burden of online meetings.\n\nIn 2020, OpenAI announced API access to early GPT LLM AI models. The market took little notice until late 2022, when ChatGPT and accompanying GPT improvements were released, followed by competing APIs and models from Google, Anthropic, Mistral, Baidu and others.\n\nThis changed the economics of building meeting summarisers. A vendor no longer needed a proprietary model trained over many years by expert data scientists using transcript labels crafted by human annotators. A junior developer could adapt online how-to code to an industry sector, creating a new wave of products and hype.\n\nAs with many new technologies, excitement can lead to false promises before practical use becomes clear. Using Gartner\u2019s Hype Cycle terminology, the Peak of Inflated Expectations must pass through the Trough of Disillusionment before reaching the Plateau of Productivity.\n\nResponsible hype\n\nIn Gartner\u2019s July 2023 Hype Cycle chart for Generative AI, the technology was placed at the peak of inflated expectations and estimated to be five to ten years from the Plateau of Productivity. many AI experts would not strongly disagree with that status or timeline.\n\nhow many GPT-based vendors are honest about the technology\u2019s pros and cons, or explain current limits and responsible use at the start of a sales call. The answer is rarely, if ever.\n\nRecordsure describes itself as a responsible AI provider and says it talks daily to current and potential clients about what the technology can achieve. The experiences shared with Recordsure include early trials of GPT-based AI products that went nowhere after six months: expensive, time-consuming experiments in early-stage technology that did not meet promises. One bank was experimenting with its third vendor and repeating the cycle.\n\nThis was not a surprise to Recordsure. The rules for AI-generated meeting notes are the same as for other applications: generative AI is good at generating text because that is what it is designed for, but today\u2019s generative AI is not good at finding or understanding content and is error-prone when forced into that use case.\n\nTo reliably find and categorise written content from transcripts or documents, there is not yet a shortcut to labelling large volumes of text and having expert data scientists design and test deep neural networks. That process creates a predictive AI product whose accuracy can be measured and qualified.\n\nHype Cycle image credit in the input is By Olga Tarkovskiy \u2013 Own work, CC BY-SA 3.0.\n\nIs there value to a GPT-created meeting summary?\n\nThe industry desire for accurate AI meeting summaries is valid, and Recordsure does not dismiss the value of partially accurate meeting summaries. We need to recognise the limits of GPT-created summaries, be realistic about their utility and put adequate responsible controls around their use.\n\nA GPT-generated meeting summary from any vendor will not be fully accurate. It may miss important points, misinterpret content it finds and make things up.\n\nIf a draft AI meeting note is given to a meeting participant, such as a financial adviser or government inspector, that person can correct it from memory and refer to the recording or transcript where memory is uncertain. This can produce a high-quality outcome and save time because the notes do not need to be created from scratch.\n\nIf the draft goes straight to the back office for an administrator or paraplanner who did not attend the meeting, that person needs access to the original recording and transcript to create an authoritative summary or populate documents and systems such as a Fact Find, practice management system or CRM.\n\nWithout additional tooling, this can be inefficient because the reviewer must effectively review the whole conversation to check the note. It may be nearly as fast to type it from scratch.\n\nMeeting notes with citations can help verify what the AI found and how it interpreted the transcript or recording. However, citations can give a false sense of security. GPT citations often work by seeking evidence for what the system wants to say, and may ignore conflicting information.\n\nFor example, if a customer first says they want to invest \u00a350,000 and later says they want to invest \u00a335,000 after discussing emergency funds, a GPT meeting summary may point randomly to one figure and cite only the transcript source that supports its conclusion.\n\nCitations also do not identify what the AI missed. Without other tools, the reviewer must still check the whole conversation record.\n\nThis is where traditional, data-scientist-built, properly trained and tested predictive AI has a role. Recordsure\u2019s Conversation Intelligence can accurately and thematically mark up the original recording and transcript by topic so reviewers can find and check what is, or is not, in the AI meeting note and ignore the rest of the recording safely.\n\nWill AI-generated meeting notes improve?\n\nAI-generated meeting notes will improve, but it is unlikely that purely generative AI or GPT-based solutions will make major gains over the next few years.\n\nInstead, improvement will come from companies that annotate many thousands of hours of recordings with millions of labels, then build, train and test deep learning models to find and interpret conversations in the same way a human would. In this model, generative AI stays in its place by turning final AI findings into human-readable summary bullets.\n\nHow can I judge the quality of AI meeting notes today?\n\nAI meeting notes have a place and can provide efficiencies if used correctly and responsibly. Recordsure says clients using the latest Capture solution will receive GPT-based meeting notes free with their transcript.\n\nClients using more advanced Conversation Intelligence tools will also receive higher-quality outputs and tools to verify meeting notes in the back office more efficiently.\n\nFor organisations that want basic GPT notes, Recordsure has open-sourced code for generating meeting notes using OpenAI models within their own Microsoft Azure tenancy. Organisations can try it with Microsoft Teams or Zoom transcripts without concerns about data security or transcript redaction.\n\nGPT-based meeting note vendors use the same underlying technology, even if they choose different GPT models. The free code is therefore likely to represent the methods and outputs available from others.\n\nRecordsure has made it possible to customise prompts used to generate the summary and topics, similar to the playground vendors use to tailor meeting notes.\n\nThe cost of generating an AI meeting note securely in an organisation\u2019s own Azure tenancy is about 1.6p GBP, or 2\u00a2 USD, for a 1-hour meeting. This leaves budget to contract a software developer for a few hours if help is needed to get started.\n\nThe code is available on Recordsure\u2019s GitHub repository here.\n\nOther generative AI product visions\n\nSome vendors offer GPT notes with future capabilities such as automatically completing Fact Find documentation, populating PMS or CRM fields directly, or drafting suitability letters and other client documents.\n\nBecause everything the AI produces needs human verification, firms should examine how any pre-population of documents or records fits into their qualification workflow.\n\nFor automatically creating suitability letters, this output warns firms not to forget the purpose of financial advice. They use specialist calculators, tools to examine appropriate products, and suitably qualified advisers and paraplanners for a reason.\n\nOne head of a wealth management organisation, approached by a vendor claiming a future route from meeting recording straight to suitability report preparation, said: \u201cHowever good the tech might become, it\u2019s just not feasible in practice. They\u2019ve forgotten about advice. We might as well be providing robo-advice.\u201d\n\nLaws and regulation to know\n\nAfter covering how AI meeting summaries should and should not be used, firms must consider Responsible AI and emerging regulation and law in their territory.\n\nA GPT-created meeting note summary is an AI output and should be thoroughly verified by a human before any client advice is provided or any client decision is taken based on it.\n\nThe UK GDPR restricts solely automated decisions that have a legal or similarly significant effect on individuals. The UK government framework for AI regulation, adopted by the FCA, goes further on transparency and trustworthiness, warning about autonomous decisions and requiring controls for safety, transparency, explainability, contestability and redress.\n\nThe EU AI Act, recently passed into European law, addresses human agency and oversight. It categorises AI systems used to determine access to financial products, using credit-scoring as an example, as high risk. That requires both product vendor and product user to register such systems with the European Commission and monitor and report on their controlled use, unless the AI output does not materially influence decision-making and the system is intended only for a task preparatory to a human assessment.\n\nIn summary\n\nAI-generated meeting summaries are an emerging technology. Products built around GPT LLMs are only partially accurate, but they can still be useful where firms have appropriate human verification processes and additional tooling to make review and correction efficient.\n\nFirms should try before they buy, especially with recordings of true customer meetings that the vendor has not previously seen, or to experiment with Recordsure\u2019s open-source code to understand strengths and limits.\n\nFinally, firms should establish governance and controls for use of the technology and update their Responsible AI policy if they have not reviewed it recently.\n\nthe images accompanying it, except for the hype cycle, were created with generative AI, while all words were human.", "wordCount": 1768, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI meeting notes" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-8" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-9" } ], "citation": [ { "@type": "CreativeWork", "name": "Gartner Hype Cycle for Generative AI, July 2023", "url": "https://www.gartner.com/en/articles/what-s-new-in-artificial-intelligence-from-the-2023-gartner-hype-cycle" }, { "@type": "CreativeWork", "name": "Hype Cycle image credit by Olga Tarkovskiy", "url": "https://commons.wikimedia.org/w/index.php?curid=27546041" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "text": "GPT-based meeting summaries, such as those based on OpenAI\u2019s Large Language Models, cost about 1.6p GBP to generate securely on Microsoft Azure. However, GPT summaries must be thoroughly verified by a human, such as an adviser or paraplanner, before any client action is taken based on their content.\n\nKit Ruparel, Recordsure\u2019s CTO, explains the practicalities, limits and regulation around generative AI technology. Recordsure has released a complete AI meeting note generator as open-source code for organisations that want to experiment with their own conversation summaries before selecting a vendor or using GPT-based meeting notes in business practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "The innovation", "text": "In 2011, Nick D\u2019Aloisio became the youngest recipient of venture capital funding for an app that could turn lengthy text into concise summaries. Less than 2 years later, he sold Summly to Yahoo for an estimated $30m before his 18th birthday.\n\nCompanies such as Otter.ai and Notiv, later acquired by Dubber in 2021, saw the potential to use generative AI to summarise Microsoft Teams meeting recordings into notes and actions. Microsoft Teams now bundles a similar feature with its premium edition.\n\nThe appeal is clear: participants can talk without having to take meeting notes, supported by companies that built products to reduce the burden of online meetings.\n\nIn 2020, OpenAI announced API access to early GPT LLM AI models. The market took little notice until late 2022, when ChatGPT and accompanying GPT improvements were released, followed by competing APIs and models from Google, Anthropic, Mistral, Baidu and others.\n\nThis changed the economics of building meeting summarisers. A vendor no longer needed a proprietary model trained over many years by expert data scientists using transcript labels crafted by human annotators. A junior developer could adapt online how-to code to an industry sector, creating a new wave of products and hype.\n\nAs with many new technologies, excitement can lead to false promises before practical use becomes clear. Using Gartner\u2019s Hype Cycle terminology, the Peak of Inflated Expectations must pass through the Trough of Disillusionment before reaching the Plateau of Productivity." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "Responsible hype", "text": "In Gartner\u2019s July 2023 Hype Cycle chart for Generative AI, the technology was placed at the peak of inflated expectations and estimated to be five to ten years from the Plateau of Productivity. many AI experts would not strongly disagree with that status or timeline.\n\nhow many GPT-based vendors are honest about the technology\u2019s pros and cons, or explain current limits and responsible use at the start of a sales call. The answer is rarely, if ever.\n\nRecordsure describes itself as a responsible AI provider and says it talks daily to current and potential clients about what the technology can achieve. The experiences shared with Recordsure include early trials of GPT-based AI products that went nowhere after six months: expensive, time-consuming experiments in early-stage technology that did not meet promises. One bank was experimenting with its third vendor and repeating the cycle.\n\nThis was not a surprise to Recordsure. The rules for AI-generated meeting notes are the same as for other applications: generative AI is good at generating text because that is what it is designed for, but today\u2019s generative AI is not good at finding or understanding content and is error-prone when forced into that use case.\n\nTo reliably find and categorise written content from transcripts or documents, there is not yet a shortcut to labelling large volumes of text and having expert data scientists design and test deep neural networks. That process creates a predictive AI product whose accuracy can be measured and qualified.\n\nHype Cycle image credit in the input is By Olga Tarkovskiy \u2013 Own work, CC BY-SA 3.0." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "Is there value to a GPT-created meeting summary?", "text": "The industry desire for accurate AI meeting summaries is valid, and Recordsure does not dismiss the value of partially accurate meeting summaries. We need to recognise the limits of GPT-created summaries, be realistic about their utility and put adequate responsible controls around their use.\n\nA GPT-generated meeting summary from any vendor will not be fully accurate. It may miss important points, misinterpret content it finds and make things up.\n\nIf a draft AI meeting note is given to a meeting participant, such as a financial adviser or government inspector, that person can correct it from memory and refer to the recording or transcript where memory is uncertain. This can produce a high-quality outcome and save time because the notes do not need to be created from scratch.\n\nIf the draft goes straight to the back office for an administrator or paraplanner who did not attend the meeting, that person needs access to the original recording and transcript to create an authoritative summary or populate documents and systems such as a Fact Find, practice management system or CRM.\n\nWithout additional tooling, this can be inefficient because the reviewer must effectively review the whole conversation to check the note. It may be nearly as fast to type it from scratch.\n\nMeeting notes with citations can help verify what the AI found and how it interpreted the transcript or recording. However, citations can give a false sense of security. GPT citations often work by seeking evidence for what the system wants to say, and may ignore conflicting information.\n\nFor example, if a customer first says they want to invest \u00a350,000 and later says they want to invest \u00a335,000 after discussing emergency funds, a GPT meeting summary may point randomly to one figure and cite only the transcript source that supports its conclusion.\n\nCitations also do not identify what the AI missed. Without other tools, the reviewer must still check the whole conversation record.\n\nThis is where traditional, data-scientist-built, properly trained and tested predictive AI has a role. Recordsure\u2019s Conversation Intelligence can accurately and thematically mark up the original recording and transcript by topic so reviewers can find and check what is, or is not, in the AI meeting note and ignore the rest of the recording safely." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "Will AI-generated meeting notes improve?", "text": "AI-generated meeting notes will improve, but it is unlikely that purely generative AI or GPT-based solutions will make major gains over the next few years.\n\nInstead, improvement will come from companies that annotate many thousands of hours of recordings with millions of labels, then build, train and test deep learning models to find and interpret conversations in the same way a human would. In this model, generative AI stays in its place by turning final AI findings into human-readable summary bullets." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "How can I judge the quality of AI meeting notes today?", "text": "AI meeting notes have a place and can provide efficiencies if used correctly and responsibly. Recordsure says clients using the latest Capture solution will receive GPT-based meeting notes free with their transcript.\n\nClients using more advanced Conversation Intelligence tools will also receive higher-quality outputs and tools to verify meeting notes in the back office more efficiently.\n\nFor organisations that want basic GPT notes, Recordsure has open-sourced code for generating meeting notes using OpenAI models within their own Microsoft Azure tenancy. Organisations can try it with Microsoft Teams or Zoom transcripts without concerns about data security or transcript redaction.\n\nGPT-based meeting note vendors use the same underlying technology, even if they choose different GPT models. The free code is therefore likely to represent the methods and outputs available from others.\n\nRecordsure has made it possible to customise prompts used to generate the summary and topics, similar to the playground vendors use to tailor meeting notes.\n\nThe cost of generating an AI meeting note securely in an organisation\u2019s own Azure tenancy is about 1.6p GBP, or 2\u00a2 USD, for a 1-hour meeting. This leaves budget to contract a software developer for a few hours if help is needed to get started.\n\nThe code is available on Recordsure\u2019s GitHub repository here." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "Other generative AI product visions", "text": "Some vendors offer GPT notes with future capabilities such as automatically completing Fact Find documentation, populating PMS or CRM fields directly, or drafting suitability letters and other client documents.\n\nBecause everything the AI produces needs human verification, firms should examine how any pre-population of documents or records fits into their qualification workflow.\n\nFor automatically creating suitability letters, this output warns firms not to forget the purpose of financial advice. They use specialist calculators, tools to examine appropriate products, and suitably qualified advisers and paraplanners for a reason.\n\nOne head of a wealth management organisation, approached by a vendor claiming a future route from meeting recording straight to suitability report preparation, said: \u201cHowever good the tech might become, it\u2019s just not feasible in practice. They\u2019ve forgotten about advice. We might as well be providing robo-advice.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "Laws and regulation to know", "text": "After covering how AI meeting summaries should and should not be used, firms must consider Responsible AI and emerging regulation and law in their territory.\n\nA GPT-created meeting note summary is an AI output and should be thoroughly verified by a human before any client advice is provided or any client decision is taken based on it.\n\nThe UK GDPR restricts solely automated decisions that have a legal or similarly significant effect on individuals. The UK government framework for AI regulation, adopted by the FCA, goes further on transparency and trustworthiness, warning about autonomous decisions and requiring controls for safety, transparency, explainability, contestability and redress.\n\nThe EU AI Act, recently passed into European law, addresses human agency and oversight. It categorises AI systems used to determine access to financial products, using credit-scoring as an example, as high risk. That requires both product vendor and product user to register such systems with the European Commission and monitor and report on their controlled use, unless the AI output does not materially influence decision-making and the system is intended only for a task preparatory to a human assessment." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "headline": "In summary", "text": "AI-generated meeting summaries are an emerging technology. Products built around GPT LLMs are only partially accurate, but they can still be useful where firms have appropriate human verification processes and additional tooling to make review and correction efficient.\n\nFirms should try before they buy, especially with recordings of true customer meetings that the vendor has not previously seen, or to experiment with Recordsure\u2019s open-source code to understand strengths and limits.\n\nFinally, firms should establish governance and controls for use of the technology and update their Responsible AI policy if they have not reviewed it recently.\n\nthe images accompanying it, except for the hype cycle, were created with generative AI, while all words were human." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-2-ai-summary-meeting-note/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How much can a GPT meeting note cost?", "acceptedAnswer": { "@type": "Answer", "text": "It says the cost is about 1.6p GBP, or 2\u00a2 USD, for a 1-hour meeting generated securely in an organisation\u2019s own Azure tenancy." } }, { "@type": "Question", "name": "Why must GPT meeting notes be verified?", "acceptedAnswer": { "@type": "Answer", "text": "GPT meeting notes can miss important content, misinterpret what they find and make things up, so a human must verify them before client action." } }, { "@type": "Question", "name": "What is the difference between generative AI and predictive AI?", "acceptedAnswer": { "@type": "Answer", "text": "Generative AI creates text, while predictive AI is trained and tested to find, categorise and evidence content in transcripts or documents." } }, { "@type": "Question", "name": "What role does Conversation Intelligence play?", "acceptedAnswer": { "@type": "Answer", "text": "It can mark up recordings and transcripts by topic so reviewers can check what is in or missing from an AI meeting note more efficiently." } }, { "@type": "Question", "name": "What legal and regulatory areas are mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "Relevant areas include UK GDPR, the UK government AI regulation framework adopted by the FCA, and the EU AI Act." } } ] } ] } ``` ### How to utilise RegTech for the provision of ongoing advice services - URL: https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/ - Published: 2024-06-06 - Modified: 2026-10-09 **Topic:** Ongoing advice Firms facing scrutiny over ongoing advice services can use data sourcing, AI document classification, workflow and review expertise to evidence whether agreed services were delivered. #### Key points - The FCA’s work on assets under advice gives firms a prompt to assess ongoing advice policies and processes. - Claims management activity increases pressure on wealth managers involved in ongoing advice service reviews. - Recordsure proposes a six-step process for proving advice provision against service agreements. - Document Intelligence can classify records, match evidence to service periods and support consistent past business review. #### In recent months, the FCA indicated the urgency for further understanding of the assets under advice landscape and sent a survey to 20 of the largest advice firms in February 2024. While we await the outcome of this review, firms now have the chance to assess their own ongoing advice services’ policies and processes. In addition to the regulator’s activities, claims management companies have also been swift to engage clients and lodge complaints against wealth management firms involved in this ongoing advice service exercise. So, it’s clearly a critical time for ongoing service providers to take stock and expedite action. Knowing where to start can seem a daunting prospect. #### The good news is we have the technology and the experience to help. Our Recordsure technology solutions are designed and configured to expedite the proving of advice provision according to ongoing advice service agreements in six simple steps: 1. Sourcing data per customer to construct a ‘what should have happened’ timeline according to their agreement records, platform reserve drawdowns and direct debit history. 2. Our AI classifies documents and other records into evidence types. This dates and matches them against your service period timeline to cohort your customers. 3. Rapidly remediate the customers with no evidence of advice on file, with the option to take ‘fully populated’ cases automatically out-of-scope. 4. A purpose-configured workflow system drives the remaining cases through a past business review cycle in a consistent and measurable manner. If preferred, this stage can be easily integrated with your existing workflow system. 5. Our AI finds candidates with evidence of interactions with customers, consideration of their circumstances, and an advice conclusion. AI also finds ongoing advice service agreement details to help augment your timeline and evidence attempts to offer advice to your customer. 6. Our review team uses a purpose-designed user experience to verify advice evidence and record proof of findings. #### Recordsure’s adaptable, modular approach can evolve alongside your needs and the FCA’s intent. We give you the best tools to ensure that your ongoing advice services are compliant and deliver fair value for your clients. #### Our proven experience We have what it takes. We’ve solved the equivalent of the ongoing advice service charges challenge in Australia for Tier 1 wealth managers. Recordsure’s unique Document Intelligence tech ingested and reviewed over nine million documents and files, covering a period of circa 1 million years of client advice, related to more than £1 billion client advice fees. In addition to these impressive numbers, we helped the firm reduce client handling time by 80+%. #### Supporting sources - [FCA requests information from firms on delivery of ongoing advice services and Consumer Duty](https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How to utilise RegTech for the provision of ongoing advice services", "item": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/", "name": "How to utilise RegTech for the provision of ongoing advice services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-06-06T13:01:52+01:00", "dateModified": "2024-07-31T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-07-31" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How to utilise RegTech for the provision of ongoing advice services", "datePublished": "2024-06-06T13:01:52+01:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c66952082b3f4dccb5174c3820c85aba/thumbnail-1024-f2d08cfc8256147f86a6fd9bb8f82800703c7e9fca2b4c743bfcaf53491d8009.png", "description": "Technology can help advice firms evidence ongoing service delivery, cohort customers and support consistent review activity.", "inLanguage": "en-GB", "articleBody": "Firms facing scrutiny over ongoing advice services can use data sourcing, AI document classification, workflow and review expertise to evidence whether agreed services were delivered.\n\nIn recent months, the FCA indicated the urgency for further understanding of the assets under advice landscape and sent a survey to 20 of the largest advice firms in February 2024.\n\nWhile we await the outcome of this review, firms now have the chance to assess their own ongoing advice services\u2019 policies and processes.\n\nIn addition to the regulator\u2019s activities, claims management companies have also been swift to engage clients and lodge complaints against wealth management firms involved in this ongoing advice service exercise.\n\nSo, it\u2019s clearly a critical time for ongoing service providers to take stock and expedite action. Knowing where to start can seem a daunting prospect.\n\nThe good news is we have the technology and the experience to help.\n\nOur Recordsure technology solutions are designed and configured to expedite the proving of advice provision according to ongoing advice service agreements in six simple steps:\n\n1. Sourcing data per customer to construct a \u2018what should have happened\u2019 timeline according to their agreement records, platform reserve drawdowns and direct debit history.\n2. Our AI classifies documents and other records into evidence types. This dates and matches them against your service period timeline to cohort your customers.\n3. Rapidly remediate the customers with no evidence of advice on file, with the option to take \u2018fully populated\u2019 cases automatically out-of-scope.\n4. A purpose-configured workflow system drives the remaining cases through a past business review cycle in a consistent and measurable manner. If preferred, this stage can be easily integrated with your existing workflow system.\n5. Our AI finds candidates with evidence of interactions with customers, consideration of their circumstances, and an advice conclusion. AI also finds ongoing advice service agreement details to help augment your timeline and evidence attempts to offer advice to your customer.\n6. Our review team uses a purpose-designed user experience to verify advice evidence and record proof of findings.\n\nRecordsure\u2019s adaptable, modular approach can evolve alongside your needs and the FCA\u2019s intent.\n\nWe give you the best tools to ensure that your ongoing advice services are compliant and deliver fair value for your clients.\n\nOur proven experience\n\nWe have what it takes. We\u2019ve solved the equivalent of the ongoing advice service charges challenge in Australia for Tier 1 wealth managers. Recordsure\u2019s unique Document Intelligence tech ingested and reviewed over nine million documents and files, covering a period of circa 1 million years of client advice, related to more than \u00a31 billion client advice fees. In addition to these impressive numbers, we helped the firm reduce client handling time by 80+%.", "wordCount": 448, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Ongoing advice" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA requests information from firms on delivery of ongoing advice services and Consumer Duty", "url": "https://www.fca.org.uk/news/statements/requests-information-firms-delivery-ongoing-advice-services-consumer-duty" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "inLanguage": "en-GB", "headline": "In recent months, the FCA indicated the urgency for further understanding of the assets under advice landscape and sent a survey to 20 of the largest advice firms in February 2024.", "text": "While we await the outcome of this review, firms now have the chance to assess their own ongoing advice services\u2019 policies and processes.\n\nIn addition to the regulator\u2019s activities, claims management companies have also been swift to engage clients and lodge complaints against wealth management firms involved in this ongoing advice service exercise.\n\nSo, it\u2019s clearly a critical time for ongoing service providers to take stock and expedite action. Knowing where to start can seem a daunting prospect." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "inLanguage": "en-GB", "headline": "The good news is we have the technology and the experience to help.", "text": "Our Recordsure technology solutions are designed and configured to expedite the proving of advice provision according to ongoing advice service agreements in six simple steps:\n\n1. Sourcing data per customer to construct a \u2018what should have happened\u2019 timeline according to their agreement records, platform reserve drawdowns and direct debit history.\n2. Our AI classifies documents and other records into evidence types. This dates and matches them against your service period timeline to cohort your customers.\n3. Rapidly remediate the customers with no evidence of advice on file, with the option to take \u2018fully populated\u2019 cases automatically out-of-scope.\n4. A purpose-configured workflow system drives the remaining cases through a past business review cycle in a consistent and measurable manner. If preferred, this stage can be easily integrated with your existing workflow system.\n5. Our AI finds candidates with evidence of interactions with customers, consideration of their circumstances, and an advice conclusion. AI also finds ongoing advice service agreement details to help augment your timeline and evidence attempts to offer advice to your customer.\n6. Our review team uses a purpose-designed user experience to verify advice evidence and record proof of findings." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure\u2019s adaptable, modular approach can evolve alongside your needs and the FCA\u2019s intent.", "text": "We give you the best tools to ensure that your ongoing advice services are compliant and deliver fair value for your clients." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "inLanguage": "en-GB", "headline": "Our proven experience", "text": "We have what it takes. We\u2019ve solved the equivalent of the ongoing advice service charges challenge in Australia for Tier 1 wealth managers. Recordsure\u2019s unique Document Intelligence tech ingested and reviewed over nine million documents and files, covering a period of circa 1 million years of client advice, related to more than \u00a31 billion client advice fees. In addition to these impressive numbers, we helped the firm reduce client handling time by 80+%." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-utilise-regtech-for-the-provision-of-ongoing-advice-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is ongoing advice under scrutiny?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA sought more information about the assets under advice landscape and firms\u2019 delivery of ongoing advice services." } }, { "@type": "Question", "name": "What can technology help firms prove?", "acceptedAnswer": { "@type": "Answer", "text": "It can help firms prove whether advice provision matched ongoing advice service agreements and whether evidence exists for each customer." } }, { "@type": "Question", "name": "How does AI support the review process?", "acceptedAnswer": { "@type": "Answer", "text": "AI can classify records, match them to service periods and identify evidence of interactions, circumstances and advice conclusions." } }, { "@type": "Question", "name": "What experience does Recordsure bring?", "acceptedAnswer": { "@type": "Answer", "text": "We have worked in Australia for Tier 1 wealth managers on over nine million documents and files and more than \u00a31 billion in client advice fees." } } ] } ] } ``` ### Almost three quarters of financial advisers understand the significance of incorporating AI - URL: https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/ - Published: 2024-05-23 - Modified: 2026-10-09 **Topic:** AI in advice The intelliflo adviser survey shows appetite for AI alongside a significant skills gap. AI can reduce administrative burden where it structures and analyses existing advice data. #### Key points - intelliflo research found strong adviser interest in AI but a major skills gap. - Firms reported inefficient advice journeys, limited digital workflows and demand for better notetaking. - Kit Ruparel argues AI is most useful where it examines and structures existing data. - Consumer Duty makes ongoing evidence of compliance and customer outcomes more important. A survey of financial advisers has revealed that 72% of firms say it’s important to integrate artificial intelligence (AI) into their practices but 95% believe they lack the required skillsets to do so. Conducted by [financial advice technology provider, intelliflo](https://www.intelliflo.com/insights/thought-leadership/intelliflos-2024-advice-efficiency-survey/), the adviser research also highlights that 94% of firms believe their advice journey isn’t as efficient as they would like, citing the top three reasons as internal inefficiency, lack of integrations along with time and resource challenges. Coupling this with the regulatory pressures to provide accurate data to demonstrate the delivery of good outcomes, and it’s clear to see that there is a knowledge gap to bridge with financial advisers about how AI can transform the completion of burdensome tasks. For instance, the results revealed that on average, only 40% of surveyed firms’ workflows are currently fully digitalised, and 57% want to see more efficient and technology-based notetaking methods in place to take some of the admin load away from staff. #### The potential of AI With these results in mind, Kit Ruparel , Chief Technology Officer at Recordsure, explains how AI has the huge potential to improve efficiencies within financial services and support business growth: The ability of AI to identify and date documents and conversations, break them down into summary themes and pull all relevant elements into a checklist can save firms significant time, especially during the file review process. With all the relevant information in one place, teams can review a much larger percentage of files in the same amount of time, helping firms to scale while also delivering consistent advice and evidencing regulatory compliance and good consumer outcomes. Kit Ruparel, CTO Understanding which AI tools can specifically improve advice systems and drive efficiencies in a firm is key. It’s about using the right tools for the right processes, as Kit explains: There has been a lot of excitement around generative AI tools like ChatGPT being the solution to everything. The current cohort of generative AI solutions excel at creating new content, but in the advice profession, much of what’s required is examination and analysis of existing data. The regulated nature of advisers’ work means that often answers need to be factual and consistent, not creative. While generative AI’s ability to generate human language makes it useful for tasks like chat-based research and generating creative content, actions that involve finding and presenting information stored in your internal data sources reliably and authoritatively, will be best served by AI tools based on more well-established machine learning solutions Kit Ruparel, CTO With the Consumer Duty now setting regulatory standards across the industry, the need to evidence compliance on an ongoing basis has never been more important. Implementing effective processes that drive efficiencies throughout the advice journey is vital in delivering the best possible outcomes for customers. It’s time to move away from laborious, manual processes and free up your skilled team’s time to focus on the tasks where they’re needed most. Contact our RegTech experts today to discuss how Recordsure technology can prove useful for your firm. #### Supporting sources - [intelliflo 2024 Advice Efficiency Survey](https://www.intelliflo.com/insights/thought-leadership/intelliflos-2024-advice-efficiency-survey/) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Almost three quarters of financial advisers understand the significance of incorporating AI", "item": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/", "name": "Almost three quarters of financial advisers understand the significance of incorporating AI", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-05-23T12:16:09+01:00", "dateModified": "2024-08-12T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-12" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Almost three quarters of financial advisers understand the significance of incorporating AI", "datePublished": "2024-05-23T12:16:09+01:00", "dateModified": "2026-10-09T04:50:15+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/131a7b4b0d2f4160bf515f6d632ad7e6/thumbnail-1024-8100fe0f2ad0b7f7fc648f714b7e1730228020e7455cb68e2074bb26000f4543.png", "description": "A survey of financial advisers has revealed that 72% of firms say it\u2019s important to integrate artificial intelligence into their practices.", "inLanguage": "en-GB", "articleBody": "The intelliflo adviser survey shows appetite for AI alongside a significant skills gap. AI can reduce administrative burden where it structures and analyses existing advice data.\n\nA survey of financial advisers has revealed that 72% of firms say it\u2019s important to integrate artificial intelligence (AI) into their practices but 95% believe they lack the required skillsets to do so.\n\nConducted by financial advice technology provider, intelliflo, the adviser research also highlights that 94% of firms believe their advice journey isn\u2019t as efficient as they would like, citing the top three reasons as internal inefficiency, lack of integrations along with time and resource challenges.\n\nCoupling this with the regulatory pressures to provide accurate data to demonstrate the delivery of good outcomes, and it\u2019s clear to see that there is a knowledge gap to bridge with financial advisers about how AI can transform the completion of burdensome tasks. For instance, the results revealed that on average, only 40% of surveyed firms\u2019 workflows are currently fully digitalised, and 57% want to see more efficient and technology-based notetaking methods in place to take some of the admin load away from staff.\n\nThe potential of AI\n\nWith these results in mind, Kit Ruparel , Chief Technology Officer at Recordsure, explains how AI has the huge potential to improve efficiencies within financial services and support business growth:\n\nThe ability of AI to identify and date documents and conversations, break them down into summary themes and pull all relevant elements into a checklist can save firms significant time, especially during the file review process.\n\nWith all the relevant information in one place, teams can review a much larger percentage of files in the same amount of time, helping firms to scale while also delivering consistent advice and evidencing regulatory compliance and good consumer outcomes. Kit Ruparel, CTO\n\nUnderstanding which AI tools can specifically improve advice systems and drive efficiencies in a firm is key. It\u2019s about using the right tools for the right processes, as Kit explains:\n\nThere has been a lot of excitement around generative AI tools like ChatGPT being the solution to everything. The current cohort of generative AI solutions excel at creating new content, but in the advice profession, much of what\u2019s required is examination and analysis of existing data. The regulated nature of advisers\u2019 work means that often answers need to be factual and consistent, not creative.\n\nWhile generative AI\u2019s ability to generate human language makes it useful for tasks like chat-based research and generating creative content, actions that involve finding and presenting information stored in your internal data sources reliably and authoritatively, will be best served by AI tools based on more well-established machine learning solutions Kit Ruparel, CTO\n\nWith the Consumer Duty now setting regulatory standards across the industry, the need to evidence compliance on an ongoing basis has never been more important. Implementing effective processes that drive efficiencies throughout the advice journey is vital in delivering the best possible outcomes for customers.\n\nIt\u2019s time to move away from laborious, manual processes and free up your skilled team\u2019s time to focus on the tasks where they\u2019re needed most. Contact our RegTech experts today to discuss how Recordsure technology can prove useful for your firm.", "wordCount": 533, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI in advice" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "intelliflo 2024 Advice Efficiency Survey", "url": "https://www.intelliflo.com/insights/thought-leadership/intelliflos-2024-advice-efficiency-survey/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage" }, "inLanguage": "en-GB", "text": "A survey of financial advisers has revealed that 72% of firms say it\u2019s important to integrate artificial intelligence (AI) into their practices but 95% believe they lack the required skillsets to do so.\n\nConducted by financial advice technology provider, intelliflo, the adviser research also highlights that 94% of firms believe their advice journey isn\u2019t as efficient as they would like, citing the top three reasons as internal inefficiency, lack of integrations along with time and resource challenges.\n\nCoupling this with the regulatory pressures to provide accurate data to demonstrate the delivery of good outcomes, and it\u2019s clear to see that there is a knowledge gap to bridge with financial advisers about how AI can transform the completion of burdensome tasks. For instance, the results revealed that on average, only 40% of surveyed firms\u2019 workflows are currently fully digitalised, and 57% want to see more efficient and technology-based notetaking methods in place to take some of the admin load away from staff." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage" }, "inLanguage": "en-GB", "headline": "The potential of AI", "text": "With these results in mind, Kit Ruparel , Chief Technology Officer at Recordsure, explains how AI has the huge potential to improve efficiencies within financial services and support business growth:\n\nThe ability of AI to identify and date documents and conversations, break them down into summary themes and pull all relevant elements into a checklist can save firms significant time, especially during the file review process.\n\nWith all the relevant information in one place, teams can review a much larger percentage of files in the same amount of time, helping firms to scale while also delivering consistent advice and evidencing regulatory compliance and good consumer outcomes. Kit Ruparel, CTO\n\nUnderstanding which AI tools can specifically improve advice systems and drive efficiencies in a firm is key. It\u2019s about using the right tools for the right processes, as Kit explains:\n\nThere has been a lot of excitement around generative AI tools like ChatGPT being the solution to everything. The current cohort of generative AI solutions excel at creating new content, but in the advice profession, much of what\u2019s required is examination and analysis of existing data. The regulated nature of advisers\u2019 work means that often answers need to be factual and consistent, not creative.\n\nWhile generative AI\u2019s ability to generate human language makes it useful for tasks like chat-based research and generating creative content, actions that involve finding and presenting information stored in your internal data sources reliably and authoritatively, will be best served by AI tools based on more well-established machine learning solutions Kit Ruparel, CTO\n\nWith the Consumer Duty now setting regulatory standards across the industry, the need to evidence compliance on an ongoing basis has never been more important. Implementing effective processes that drive efficiencies throughout the advice journey is vital in delivering the best possible outcomes for customers.\n\nIt\u2019s time to move away from laborious, manual processes and free up your skilled team\u2019s time to focus on the tasks where they\u2019re needed most. Contact our RegTech experts today to discuss how Recordsure technology can prove useful for your firm." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/intellifo-survey/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the adviser survey find about AI?", "acceptedAnswer": { "@type": "Answer", "text": "It found that 72% of firms think AI integration is important, while 95% believe they lack the required skills." } }, { "@type": "Question", "name": "Where does Kit Ruparel see AI helping?", "acceptedAnswer": { "@type": "Answer", "text": "Kit Ruparel points to identifying and dating documents and conversations, summarising themes and pulling relevant items into checklists." } }, { "@type": "Question", "name": "Why distinguish generative AI from other AI tools?", "acceptedAnswer": { "@type": "Answer", "text": "Advice work often needs factual, consistent analysis of existing data rather than creative content generation." } } ] } ] } ``` ### Recordsure partners with Iress to deliver a unique AI solution for financial services businesses - URL: https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/ - Published: 2024-04-24 - Modified: 2026-10-09 **Topic:** Iress partnership Recordsure and Iress announced a collaboration that brings Recordsure Document Intelligence to Xplan users. The partnership is designed to support wealth management firms with advice monitoring, review evidence and process efficiency. #### Key points - Recordsure is collaborating with Iress, a financial services technology provider active across several regions. - The collaboration offers Xplan users an AI solution for monitoring, reviewing and evidencing client advice. - Document Intelligence supports suitability and assurance reviews with speech and document analytics tools. Recordsure announced a new collaboration with [Iress](https://www.iress.com/), a technology company providing software to the financial services industry in the UK, Europe, Asia-Pacific, North America and Africa. The collaboration between Recordsure and Iress offers resource-efficient AI tools for wealth management firms to monitor, review and evidence client advice. #### AI tools for Xplan users Iress software, including its Xplan advice platform, is used by more than 10,000 businesses and half a million people worldwide. The collaboration with Recordsure offers Xplan users an AI solution to perform better and deliver more. [Recordsure’s Document Intelligence](/) suite, a tailor-made solution for the financial services industry, is an addition for Iress and Xplan users. Document Intelligence provides management tools intended to simplify business processes, enhance compliance and improve delivery effectiveness, along with resource efficiencies. #### Document Intelligence for review processes Document Intelligence features a suite of speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews. This technology helps financial services businesses transform their review processes. Recordsure’s tools help financial professionals complete reviews twice as fast, reduce reliance on random sampling by highlighting high-risk cases, and give access to data-powered management information to identify thematic trends. #### Supporting sources - [Iress](https://www.iress.com/) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure partners with Iress to deliver a unique AI solution for financial services businesses", "item": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage", "url": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/", "name": "Recordsure partners with Iress to deliver a unique AI solution for financial services businesses", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-04-24T08:17:19+01:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure partners with Iress to deliver a unique AI solution for financial services businesses", "datePublished": "2024-04-24T08:17:19+01:00", "dateModified": "2026-10-09T04:50:33+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ea6e3e645860445587121926ec8287dc/thumbnail-1024-4361476265b68d693136eb942d8a996696a5ac2a983e37b91295647a0c4f6b92.jpg", "description": "Recordsure announced a collaboration with Iress to give Xplan users AI tools for monitoring, reviewing and evidencing client advice in wealth management.", "inLanguage": "en-GB", "articleBody": "Recordsure and Iress announced a collaboration that brings Recordsure Document Intelligence to Xplan users. The partnership is designed to support wealth management firms with advice monitoring, review evidence and process efficiency.\n\nRecordsure announced a new collaboration with Iress, a technology company providing software to the financial services industry in the UK, Europe, Asia-Pacific, North America and Africa. The collaboration between Recordsure and Iress offers resource-efficient AI tools for wealth management firms to monitor, review and evidence client advice.\n\nAI tools for Xplan users\n\nIress software, including its Xplan advice platform, is used by more than 10,000 businesses and half a million people worldwide. The collaboration with Recordsure offers Xplan users an AI solution to perform better and deliver more.\n\nRecordsure\u2019s Document Intelligence suite, a tailor-made solution for the financial services industry, is an addition for Iress and Xplan users. Document Intelligence provides management tools intended to simplify business processes, enhance compliance and improve delivery effectiveness, along with resource efficiencies.\n\nDocument Intelligence for review processes\n\nDocument Intelligence features a suite of speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews. This technology helps financial services businesses transform their review processes.\n\nRecordsure\u2019s tools help financial professionals complete reviews twice as fast, reduce reliance on random sampling by highlighting high-risk cases, and give access to data-powered management information to identify thematic trends.", "wordCount": 225, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Iress partnership" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Iress", "url": "https://www.iress.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure announced a new collaboration with Iress, a technology company providing software to the financial services industry in the UK, Europe, Asia-Pacific, North America and Africa. The collaboration between Recordsure and Iress offers resource-efficient AI tools for wealth management firms to monitor, review and evidence client advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "inLanguage": "en-GB", "headline": "AI tools for Xplan users", "text": "Iress software, including its Xplan advice platform, is used by more than 10,000 businesses and half a million people worldwide. The collaboration with Recordsure offers Xplan users an AI solution to perform better and deliver more.\n\nRecordsure\u2019s Document Intelligence suite, a tailor-made solution for the financial services industry, is an addition for Iress and Xplan users. Document Intelligence provides management tools intended to simplify business processes, enhance compliance and improve delivery effectiveness, along with resource efficiencies." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "inLanguage": "en-GB", "headline": "Document Intelligence for review processes", "text": "Document Intelligence features a suite of speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews. This technology helps financial services businesses transform their review processes.\n\nRecordsure\u2019s tools help financial professionals complete reviews twice as fast, reduce reliance on random sampling by highlighting high-risk cases, and give access to data-powered management information to identify thematic trends." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-iress-to-deliver-a-unique-ai-solution-for-financial-services-businesses/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who did Recordsure partner with?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure announced a collaboration with Iress, a technology company serving the financial services industry." } }, { "@type": "Question", "name": "Which Iress platform is mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "Xplan is the Iress advice platform." } }, { "@type": "Question", "name": "What does Document Intelligence help firms review?", "acceptedAnswer": { "@type": "Answer", "text": "Document Intelligence supports suitability and assurance reviews using speech and document analytics tools." } } ] } ] } ``` ### Motor insurance firms are advised to utilise their data to better demonstrate customer outcomes - URL: https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/ - Published: 2024-04-16 - Modified: 2026-10-09 **Topic:** Motor insurance MI 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. #### Key points - The FCA reviewed 12 firms that make up around 70% of the market for stolen or written off vehicle claims. - Findings covered valuation methods, initial offers, disputed valuations, policy handling, data and management information. - Examples included weak Consumer Duty evidence, lower initial offers and incomplete claims information. - Firms should use customer data to monitor outcomes and mitigate foreseeable harm. - Conversation Intelligence can transcribe, assess and segment customer interactions for oversight and review. The FCA recently released new findings into its review of how motor insurance firms handle claims for valuing stolen or written off vehicles. [The survey](https://www.fca.org.uk/publications/multi-firm-reviews/findings-multi-firm-review-insurers-valuation-vehicles), which comprised 12 firms, targeted organisations that collectively make up around 70% of the market to give a clearer picture of good—and not so good—practice. This includes commentary on how motor insurance firms: - Reach the valuation of vehicles - Communicate an initial offer - Manage disputed valuations - Handle policies after a claims’ settlement - Collect data and management information Although the Consumer Duty was not active during the period of review, the regulator has interpreted where it sees shortfalls in the practice of compliance obligations. The FCA is keen to emphasise that it will act if firms fail to heed their findings and take corrective action if necessary: *“We expect firms to be able to demonstrate how their valuation approach and broader total loss claims handling processes reflect the expectations we have outlined.* *“We expect Senior Managers to engage in the findings of this work, and will hold them accountable for ensuring that they have considered our findings to ensure that their own processes meet our requirements.”* #### Use your data and MI to proactively identify issues that may lead to foreseeable customer harm Throughout the regulator’s findings, a varied range of examples are given about areas firms may need to improve on, such as: - Using multiple methods to establish a claim settlement value, and little evidence to demonstrate how requirements under the Consumer Duty were met. *Firms are expected to use data to actively recognise where any issues may occur – and take subsequent steps to monitor outcomes* - Unfavourable settlement offers – some firms provided initial settlement offers that were less than the vehicle’s estimated market value – but increased the offer if the customer challenged or complained. This could result in varying or unfair outcomes for customers, depending on their willingness to complain - Failure to provide full claims information – many of the reviewed businesses failed to gather essential information regarding total loss claims, including the quantity, magnitude, and factors contributing to adjustments in initial settlement proposals. Complaints data alone was often relied upon to determine whether there were any concerns with the claims processes Show the visibility of your end-to-end process So, what steps can motor insurance firms take now to demonstrate that poor outcomes for affected claimants are being mitigated in their business? A diligent approach is to collate and effectively monitor your customer data – which has been repeatedly flagged by the regulator as a key piece of the puzzle. #### Recordsure’s Conversation Intelligence offers an innovative and efficient solution to insurance firms Businesses can gain 100% oversight of their own customer interactions – and in turn – effectively use this data to monitor and improve company processes – and demonstrate the achievement of customer outcomes. Our AI-powered RegTech can take your customer/adviser dialogue – whether that be by ingesting recordings from your own telephony systems or using our unique Capture app to record face-to-face or online conversations – and transcribe, assess, and segment conversations to suit your business needs. Conversation Intelligence can quickly identify high-risk cases that require the most attention. This gives your reviewers the opportunity to focus their efforts on areas that need it most – including resolving any issues and preventing complaints. This can help satisfy the regulator’s appetite for firms to deliver fair value for claimants who have had their vehicles written off or stolen. Even better, our unique approach to smart segmentation of customer conversations means your team can complete reviews in half the time, freeing up skilled staff to handle other important tasks. Utilise the power of your data for compliance Sheldon Mills, Executive Director Consumers and Competition at the FCA, recently said, *“Insurance firms should offer settlements at the fair market value. This is especially important now as people are struggling with the cost of living will be hit in the pocket at precisely the time they can ill afford it”*. Bearing this important point in mind, it’s vital to unlock the power of your data to demonstrate your valuation approach and associated customer communication to the regulator. #### Supporting sources - [FCA findings from multi-firm review into insurers’ valuation of vehicles](https://www.fca.org.uk/publications/multi-firm-reviews/findings-multi-firm-review-insurers-valuation-vehicles) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Motor insurance firms are advised to utilise their data to better demonstrate customer outcomes", "item": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/", "name": "Motor insurance firms are advised to utilise their data to better demonstrate customer outcomes", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-04-16T13:31:07+01:00", "dateModified": "2024-08-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-23" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Motor insurance firms are advised to utilise their data to better demonstrate customer outcomes", "datePublished": "2024-04-16T13:31:07+01:00", "dateModified": "2026-10-09T04:50:17+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/53fe301a5dc847eca820a4c2d1b4d8c7/thumbnail-1024-cbe9fb1e2b702073dbfdefe2b0eb09079bee7695ba673383648436ce9827f862.png", "description": "The FCA\u2019s motor insurance claims review shows why firms need data and MI to evidence valuation decisions, communications and customer outcomes.", "inLanguage": "en-GB", "articleBody": "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.\n\nThe FCA recently released new findings into its review of how motor insurance firms handle claims for valuing stolen or written off vehicles.\n\nThe survey, which comprised 12 firms, targeted organisations that collectively make up around 70% of the market to give a clearer picture of good\u2014and not so good\u2014practice. This includes commentary on how motor insurance firms:\n\n\u2022 Reach the valuation of vehicles\n\u2022 Communicate an initial offer\n\u2022 Manage disputed valuations\n\u2022 Handle policies after a claims\u2019 settlement\n\u2022 Collect data and management information\n\nAlthough the Consumer Duty was not active during the period of review, the regulator has interpreted where it sees shortfalls in the practice of compliance obligations.\n\nThe FCA is keen to emphasise that it will act if firms fail to heed their findings and take corrective action if necessary: \u201cWe expect firms to be able to demonstrate how their valuation approach and broader total loss claims handling processes reflect the expectations we have outlined.\n\n\u201cWe expect Senior Managers to engage in the findings of this work, and will hold them accountable for ensuring that they have considered our findings to ensure that their own processes meet our requirements.\u201d\n\nUse your data and MI to proactively identify issues that may lead to foreseeable customer harm\n\nThroughout the regulator\u2019s findings, a varied range of examples are given about areas firms may need to improve on, such as:\n\n\u2022 Using multiple methods to establish a claim settlement value, and little evidence to demonstrate how requirements under the Consumer Duty were met. Firms are expected to use data to actively recognise where any issues may occur \u2013 and take subsequent steps to monitor outcomes\n\u2022 Unfavourable settlement offers \u2013 some firms provided initial settlement offers that were less than the vehicle\u2019s estimated market value \u2013 but increased the offer if the customer challenged or complained. This could result in varying or unfair outcomes for customers, depending on their willingness to complain\n\u2022 Failure to provide full claims information \u2013 many of the reviewed businesses failed to gather essential information regarding total loss claims, including the quantity, magnitude, and factors contributing to adjustments in initial settlement proposals. Complaints data alone was often relied upon to determine whether there were any concerns with the claims processes\n\nShow the visibility of your end-to-end process\n\nSo, what steps can motor insurance firms take now to demonstrate that poor outcomes for affected claimants are being mitigated in their business?\n\nA diligent approach is to collate and effectively monitor your customer data \u2013 which has been repeatedly flagged by the regulator as a key piece of the puzzle.\n\nRecordsure\u2019s Conversation Intelligence offers an innovative and efficient solution to insurance firms\n\nBusinesses can gain 100% oversight of their own customer interactions \u2013 and in turn \u2013 effectively use this data to monitor and improve company processes \u2013 and demonstrate the achievement of customer outcomes.\n\nOur AI-powered RegTech can take your customer/adviser dialogue \u2013 whether that be by ingesting recordings from your own telephony systems or using our unique Capture app to record face-to-face or online conversations \u2013 and transcribe, assess, and segment conversations to suit your business needs.\n\nConversation Intelligence can quickly identify high-risk cases that require the most attention. This gives your reviewers the opportunity to focus their efforts on areas that need it most \u2013 including resolving any issues and preventing complaints. This can help satisfy the regulator\u2019s appetite for firms to deliver fair value for claimants who have had their vehicles written off or stolen.\n\nEven better, our unique approach to smart segmentation of customer conversations means your team can complete reviews in half the time, freeing up skilled staff to handle other important tasks.\n\nUtilise the power of your data for compliance\n\nSheldon Mills, Executive Director Consumers and Competition at the FCA, recently said, \u201cInsurance firms should offer settlements at the fair market value. This is especially important now as people are struggling with the cost of living will be hit in the pocket at precisely the time they can ill afford it\u201d.\n\nBearing this important point in mind, it\u2019s vital to unlock the power of your data to demonstrate your valuation approach and associated customer communication to the regulator.", "wordCount": 729, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Motor insurance MI" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA findings from multi-firm review into insurers\u2019 valuation of vehicles", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/findings-multi-firm-review-insurers-valuation-vehicles" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "inLanguage": "en-GB", "text": "The FCA recently released new findings into its review of how motor insurance firms handle claims for valuing stolen or written off vehicles.\n\nThe survey, which comprised 12 firms, targeted organisations that collectively make up around 70% of the market to give a clearer picture of good\u2014and not so good\u2014practice. This includes commentary on how motor insurance firms:\n\n\u2022 Reach the valuation of vehicles\n\u2022 Communicate an initial offer\n\u2022 Manage disputed valuations\n\u2022 Handle policies after a claims\u2019 settlement\n\u2022 Collect data and management information\n\nAlthough the Consumer Duty was not active during the period of review, the regulator has interpreted where it sees shortfalls in the practice of compliance obligations.\n\nThe FCA is keen to emphasise that it will act if firms fail to heed their findings and take corrective action if necessary: \u201cWe expect firms to be able to demonstrate how their valuation approach and broader total loss claims handling processes reflect the expectations we have outlined.\n\n\u201cWe expect Senior Managers to engage in the findings of this work, and will hold them accountable for ensuring that they have considered our findings to ensure that their own processes meet our requirements.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "inLanguage": "en-GB", "headline": "Use your data and MI to proactively identify issues that may lead to foreseeable customer harm", "text": "Throughout the regulator\u2019s findings, a varied range of examples are given about areas firms may need to improve on, such as:\n\n\u2022 Using multiple methods to establish a claim settlement value, and little evidence to demonstrate how requirements under the Consumer Duty were met. Firms are expected to use data to actively recognise where any issues may occur \u2013 and take subsequent steps to monitor outcomes\n\u2022 Unfavourable settlement offers \u2013 some firms provided initial settlement offers that were less than the vehicle\u2019s estimated market value \u2013 but increased the offer if the customer challenged or complained. This could result in varying or unfair outcomes for customers, depending on their willingness to complain\n\u2022 Failure to provide full claims information \u2013 many of the reviewed businesses failed to gather essential information regarding total loss claims, including the quantity, magnitude, and factors contributing to adjustments in initial settlement proposals. Complaints data alone was often relied upon to determine whether there were any concerns with the claims processes\n\nShow the visibility of your end-to-end process\n\nSo, what steps can motor insurance firms take now to demonstrate that poor outcomes for affected claimants are being mitigated in their business?\n\nA diligent approach is to collate and effectively monitor your customer data \u2013 which has been repeatedly flagged by the regulator as a key piece of the puzzle." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure\u2019s Conversation Intelligence offers an innovative and efficient solution to insurance firms", "text": "Businesses can gain 100% oversight of their own customer interactions \u2013 and in turn \u2013 effectively use this data to monitor and improve company processes \u2013 and demonstrate the achievement of customer outcomes.\n\nOur AI-powered RegTech can take your customer/adviser dialogue \u2013 whether that be by ingesting recordings from your own telephony systems or using our unique Capture app to record face-to-face or online conversations \u2013 and transcribe, assess, and segment conversations to suit your business needs.\n\nConversation Intelligence can quickly identify high-risk cases that require the most attention. This gives your reviewers the opportunity to focus their efforts on areas that need it most \u2013 including resolving any issues and preventing complaints. This can help satisfy the regulator\u2019s appetite for firms to deliver fair value for claimants who have had their vehicles written off or stolen.\n\nEven better, our unique approach to smart segmentation of customer conversations means your team can complete reviews in half the time, freeing up skilled staff to handle other important tasks.\n\nUtilise the power of your data for compliance\n\nSheldon Mills, Executive Director Consumers and Competition at the FCA, recently said, \u201cInsurance firms should offer settlements at the fair market value. This is especially important now as people are struggling with the cost of living will be hit in the pocket at precisely the time they can ill afford it\u201d.\n\nBearing this important point in mind, it\u2019s vital to unlock the power of your data to demonstrate your valuation approach and associated customer communication to the regulator." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/motor-insurance-firms-data/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA review?", "acceptedAnswer": { "@type": "Answer", "text": "It reviewed how motor insurance firms handle claims for valuing stolen or written off vehicles." } }, { "@type": "Question", "name": "How large was the review sample?", "acceptedAnswer": { "@type": "Answer", "text": "The survey comprised 12 firms that collectively make up around 70% of the market." } }, { "@type": "Question", "name": "What issues did the FCA identify?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA identified valuation evidence gaps, lower initial offers, incomplete claims information and reliance on complaints data alone." } }, { "@type": "Question", "name": "How can conversation data help?", "acceptedAnswer": { "@type": "Answer", "text": "It can provide oversight of customer interactions, support process monitoring and help identify high-risk cases needing attention." } } ] } ] } ``` ### Recordsure and intelliflo expand RegTech collaboration to Australian market - URL: https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/ - Published: 2024-04-04 - Modified: 2026-10-09 **Topic:** Australian advice Recordsure expanded its collaboration with intelliflo to Australia by adding Document Intelligence to the intelliflo store for Australian clients. The existing intelliflo office relationship gives wealth management firms access to Recordsure’s speech and document tools. #### Key points - Recordsure extended its collaboration with intelliflo to Australia. - Document Intelligence became available to Australian intelliflo clients through the intelliflo store. - intelliflo supports more than 30,000 financial professionals globally. - The Australian launch followed integration with intelliflo office and the UK intelliflo store in January 2024. Recordsure extended its collaboration with financial advice technology provider intelliflo to Australia. Recordsure’s Document Intelligence suite became available to intelliflo’s Australian clients through the intelliflo store in Australia. [intelliflo](https://www.intelliflo.com/) supports more than 30,000 financial professionals globally through its flagship financial advice software and business management resource, [intelliflo office](https://www.intelliflo.com/our-solutions/intelliflo-office/). #### Document Intelligence for Australian clients The move made Recordsure’s [Document Intelligence](/) AI-powered analytics tools available to [Australian intelliflo customers](https://www.intelliflo.com/au/our-solutions/intelliflo-store/) for the first time. It followed the suite’s recent integration into intelliflo office and the [UK version](https://www.intelliflo.com/our-solutions/intelliflo-store/) of the intelliflo store in January 2024. Recordsure’s offering comprises [Conversation Intelligence](/technology/conversation-intelligence/) and [Document Intelligence](/technology/document-intelligence/) for speech recordings and documents. The tools give wealth management firms a smarter, faster and more cost-effective method to monitor, review and evidence client advice. #### intelliflo’s software architecture intelliflo uses open software architecture and industry experience to simplify a complex digital landscape. It offers wealth management firms advisory solutions in one place, supporting firms across each stage of the advice lifecycle. > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure and intelliflo expand RegTech collaboration to Australian market", "item": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage", "url": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/", "name": "Recordsure and intelliflo expand RegTech collaboration to Australian market", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-04-04T08:15:19+01:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure and intelliflo expand RegTech collaboration to Australian market", "datePublished": "2024-04-04T08:15:19+01:00", "dateModified": "2026-10-09T04:50:32+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/032c2610ae6442c1ac50d25bae1bee4e/thumbnail-1024-a48d4ad53dd0c027eca3220aa05654e71f23f153911d46778342f6215b221a8e.jpg", "description": "Recordsure extended its intelliflo collaboration to Australia, making Document Intelligence available to Australian advice firms through the intelliflo store.", "inLanguage": "en-GB", "articleBody": "Recordsure expanded its collaboration with intelliflo to Australia by adding Document Intelligence to the intelliflo store for Australian clients. The existing intelliflo office relationship gives wealth management firms access to Recordsure\u2019s speech and document tools.\n\nRecordsure extended its collaboration with financial advice technology provider intelliflo to Australia. Recordsure\u2019s Document Intelligence suite became available to intelliflo\u2019s Australian clients through the intelliflo store in Australia.\n\nintelliflo supports more than 30,000 financial professionals globally through its flagship financial advice software and business management resource, intelliflo office.\n\nDocument Intelligence for Australian clients\n\nThe move made Recordsure\u2019s Document Intelligence AI-powered analytics tools available to Australian intelliflo customers for the first time. It followed the suite\u2019s recent integration into intelliflo office and the UK version of the intelliflo store in January 2024.\n\nRecordsure\u2019s offering comprises Conversation Intelligence and Document Intelligence for speech recordings and documents. The tools give wealth management firms a smarter, faster and more cost-effective method to monitor, review and evidence client advice.\n\nintelliflo\u2019s software architecture\n\nintelliflo uses open software architecture and industry experience to simplify a complex digital landscape. It offers wealth management firms advisory solutions in one place, supporting firms across each stage of the advice lifecycle.", "wordCount": 195, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Australian advice" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure extended its collaboration with financial advice technology provider intelliflo to Australia. Recordsure\u2019s Document Intelligence suite became available to intelliflo\u2019s Australian clients through the intelliflo store in Australia.\n\nintelliflo supports more than 30,000 financial professionals globally through its flagship financial advice software and business management resource, intelliflo office." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "inLanguage": "en-GB", "headline": "Document Intelligence for Australian clients", "text": "The move made Recordsure\u2019s Document Intelligence AI-powered analytics tools available to Australian intelliflo customers for the first time. It followed the suite\u2019s recent integration into intelliflo office and the UK version of the intelliflo store in January 2024.\n\nRecordsure\u2019s offering comprises Conversation Intelligence and Document Intelligence for speech recordings and documents. The tools give wealth management firms a smarter, faster and more cost-effective method to monitor, review and evidence client advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "inLanguage": "en-GB", "headline": "intelliflo\u2019s software architecture", "text": "intelliflo uses open software architecture and industry experience to simplify a complex digital landscape. It offers wealth management firms advisory solutions in one place, supporting firms across each stage of the advice lifecycle." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-intelliflo-regtech-collaboration-australian-market/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed in Recordsure\u2019s intelliflo collaboration?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure extended the collaboration to Australia by adding Document Intelligence to the intelliflo store for Australian clients." } }, { "@type": "Question", "name": "Who does intelliflo support?", "acceptedAnswer": { "@type": "Answer", "text": "intelliflo supports more than 30,000 financial professionals globally through intelliflo office." } }, { "@type": "Question", "name": "Which Recordsure tools are available?", "acceptedAnswer": { "@type": "Answer", "text": "Conversation Intelligence supports speech recordings and Document Intelligence supports documents." } } ] } ] } ``` ### FCA Business Plan: Regulator steps up tech focus for 2024/25 - URL: https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/ - Published: 2024-03-28 - Modified: 2026-10-09 **Topic:** FCA Business Plan 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. #### Key points - The FCA’s 2024/25 Business Plan restates three areas of focus for the next 12 months. - The plan is the final phase of the FCA’s three-year strategy from 2022 to 2025. - The regulator continues to emphasise outcomes-based, assertive and data-led supervision. - Firms should assess how technology can improve oversight, QA and evidencing of customer outcomes. The Financial Conduct Authority (FCA), the UK’s financial regulatory body, has released its annual Business Plan for 2024/25, which outlines its key objectives and regulatory priorities for the next 12 months. The [Business Plan](https://www.fca.org.uk/publications/business-plans/2024-25) restates the FCA’s three main areas of focus: - Reducing and preventing financial crime - Putting consumers’ needs first - Strengthening the UK’s position in global wholesale markets This period will mark the final phase of its [three-year strategy (2022-2025)](https://www.fca.org.uk/publication/corporate/our-strategy-2022-25.pdf) to drive positive change and create a more customer-focused environment within financial services. It’s also set to further the ambition of becoming a more ‘outcomes-based, assertive and data-led’ regulator that’s able to meet the challenges of a fast-evolving market landscape. #### The regulator continues its commitment to protecting consumers from harm Whilst there are some signs that the economic climate may be returning to relative normalcy after a few challenging years for consumers and businesses alike, the regulator remains committed to addressing the numerous financial challenges putting UK consumers at risk of financial harm. These include geopolitical uncertainty, global financial risks and above-average inflation. To this end, the FCA has outlined three primary goals that tie into the vision outlined in its three-year strategy: - Protecting consumers - Ensuring market integrity - Promoting effective competition The green light for new technologies Crucially, the regulator repeated its assertion that embracing new technologies will form a large piece of this puzzle, providing firms with the visibility and level of granular detail needed to address emerging risks and promote a more personalised service for customers. Contextualising [the agenda](https://www.fca.org.uk/news/press-releases/fca-sets-out-plan-year-ahead) for the next 12 months, FCA Chief Executive, Nikhil Rathi noted that the regulator is committed to *“embracing the potential benefits that technology presents both for us and the firms we regulate, while also continuing to protect consumers and ensure market integrity.”* What does this mean for firms? It’s clear that the FCA sees the future of financial services as an increasingly digitised environment – with technological advancement helping to fill the monitoring gaps left by firms’ existing, manual-focused oversight strategies. #### The FCA sets its sights on tackling vulnerability and poor outcomes A core component of the FCA’s mission to protect consumers from poor outcomes will be testing firms to see if they’re adhering to the Consumer Duty – which came into effect in July 2023 for new and existing products and is set to be enforced for closed products from 31st July this year. It’s also worth noting that the regulator has recently announced a review of [firms’ treatment of vulnerable customers](https://www.fca.org.uk/news/news-stories/review-firms-treatment-customers-vulnerable-circumstances), signalling it will be ramping up its efforts to safeguard at-risk individuals and ensure firms are taking proactive measures to ensure good outcomes for customers. Dedicated technology tools to help improve oversight and evidencing And that means now’s the time for firms to be conducting an honest evaluation of their customer lifecycle if they haven’t already – and investing in new technologies for better oversight that will allow them to ensure they’re doing all they can to highlight vulnerability and deliver personalised support. #### Tech focus: Business Plan highlights growing role of technology to support compliance As part of its efforts to cement itself as a ‘world-class regulator’, the FCA will continue its investment in smart analytics and process automation for both supervisory and enforcement applications. These tools are expected to help to identify and react to emerging risks in a quicker, more agile and efficient manner, allowing it to target higher risk firms and activities. Indeed, the regulator notes it’s now *‘making better use of data to spot and stop harm faster and is being tougher on the firms that could cause harm’* – having removed more than 10,000 potentially misleading advertisements in 2023 and issued around 2,243 warnings regarding unauthorised firms and individuals. #### Advice to use technology within oversight strategies But not only that: the regulator is also eager for firms to take bold action to explore the possibilities of using technology within their oversight strategies, having announced its intention to collaborate with firms on the ‘safe deployment’ of artificial intelligence (AI) systems over the coming year. Almost a year after the launch of the Consumer Duty, firms should have a solid understanding of the data and MI they’ll need to conduct their processes and effectively promote good outcomes. That means firms should actively explore their options for technological solutions—including AI-powered monitoring and QA tools such as Recordsure’s Conversation Intelligence—to fill any gaps in their existing oversight plan now. #### Technology-supported oversight and evidencing Contact our RegTech experts today or book a brief introductory call to discuss how Recordsure’s voice and document analytics can help you address regulatory challenges and deliver the best possible customer outcomes. #### Supporting sources - [FCA Business Plan 2024/25](https://www.fca.org.uk/publications/business-plans/2024-25) - [FCA strategy 2022 to 2025](https://www.fca.org.uk/publication/corporate/our-strategy-2022-25.pdf) - [FCA plan for the year ahead press release](https://www.fca.org.uk/news/press-releases/fca-sets-out-plan-year-ahead) - [FCA review of firms’ treatment of vulnerable customers](https://www.fca.org.uk/news/news-stories/review-firms-treatment-customers-vulnerable-circumstances) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA Business Plan: Regulator steps up tech focus for 2024/25", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/", "name": "FCA Business Plan: Regulator steps up tech focus for 2024/25", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-03-28T16:07:13+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA Business Plan: Regulator steps up tech focus for 2024/25", "datePublished": "2024-03-28T16:07:13+00:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9a2ddd5a8fbe4c58a0c675cc75933cf0/thumbnail-1024-502d61edfa91bb3998a55bc40ef796b8e556b176f7d6dfa8b0668c9459339569.jpg", "description": "The FCA\u2019s 2024/25 Business Plan keeps its focus on consumer harm, data-led supervision and technology-supported oversight under Consumer Duty.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s 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.\n\nThe Financial Conduct Authority (FCA), the UK\u2019s financial regulatory body, has released its annual Business Plan for 2024/25, which outlines its key objectives and regulatory priorities for the next 12 months.\n\nThe Business Plan restates the FCA\u2019s three main areas of focus:\n\n\u2022 Reducing and preventing financial crime\n\u2022 Putting consumers\u2019 needs first\n\u2022 Strengthening the UK\u2019s position in global wholesale markets\n\nThis period will mark the final phase of its three-year strategy (2022-2025) to drive positive change and create a more customer-focused environment within financial services.\n\nIt\u2019s also set to further the ambition of becoming a more \u2018outcomes-based, assertive and data-led\u2019 regulator that\u2019s able to meet the challenges of a fast-evolving market landscape.\n\nThe regulator continues its commitment to protecting consumers from harm\n\nWhilst there are some signs that the economic climate may be returning to relative normalcy after a few challenging years for consumers and businesses alike, the regulator remains committed to addressing the numerous financial challenges putting UK consumers at risk of financial harm. These include geopolitical uncertainty, global financial risks and above-average inflation.\n\nTo this end, the FCA has outlined three primary goals that tie into the vision outlined in its three-year strategy:\n\n\u2022 Protecting consumers\n\u2022 Ensuring market integrity\n\u2022 Promoting effective competition\n\nThe green light for new technologies\n\nCrucially, the regulator repeated its assertion that embracing new technologies will form a large piece of this puzzle, providing firms with the visibility and level of granular detail needed to address emerging risks and promote a more personalised service for customers.\n\nContextualising the agenda for the next 12 months, FCA Chief Executive, Nikhil Rathi noted that the regulator is committed to \u201cembracing the potential benefits that technology presents both for us and the firms we regulate, while also continuing to protect consumers and ensure market integrity.\u201d\n\nWhat does this mean for firms?\n\nIt\u2019s clear that the FCA sees the future of financial services as an increasingly digitised environment \u2013 with technological advancement helping to fill the monitoring gaps left by firms\u2019 existing, manual-focused oversight strategies.\n\nThe FCA sets its sights on tackling vulnerability and poor outcomes\n\nA core component of the FCA\u2019s mission to protect consumers from poor outcomes will be testing firms to see if they\u2019re adhering to the Consumer Duty \u2013 which came into effect in July 2023 for new and existing products and is set to be enforced for closed products from 31st July this year.\n\nIt\u2019s also worth noting that the regulator has recently announced a review of firms\u2019 treatment of vulnerable customers, signalling it will be ramping up its efforts to safeguard at-risk individuals and ensure firms are taking proactive measures to ensure good outcomes for customers.\n\nDedicated technology tools to help improve oversight and evidencing\n\nAnd that means now\u2019s the time for firms to be conducting an honest evaluation of their customer lifecycle if they haven\u2019t already \u2013 and investing in new technologies for better oversight that will allow them to ensure they\u2019re doing all they can to highlight vulnerability and deliver personalised support.\n\nTech focus: Business Plan highlights growing role of technology to support compliance\n\nAs part of its efforts to cement itself as a \u2018world-class regulator\u2019, the FCA will continue its investment in smart analytics and process automation for both supervisory and enforcement applications. These tools are expected to help to identify and react to emerging risks in a quicker, more agile and efficient manner, allowing it to target higher risk firms and activities.\n\nIndeed, the regulator notes it\u2019s now \u2018making better use of data to spot and stop harm faster and is being tougher on the firms that could cause harm\u2019 \u2013 having removed more than 10,000 potentially misleading advertisements in 2023 and issued around 2,243 warnings regarding unauthorised firms and individuals.\n\nAdvice to use technology within oversight strategies\n\nBut not only that: the regulator is also eager for firms to take bold action to explore the possibilities of using technology within their oversight strategies, having announced its intention to collaborate with firms on the \u2018safe deployment\u2019 of artificial intelligence (AI) systems over the coming year.\n\nAlmost a year after the launch of the Consumer Duty, firms should have a solid understanding of the data and MI they\u2019ll need to conduct their processes and effectively promote good outcomes.\n\nThat means firms should actively explore their options for technological solutions\u2014including AI-powered monitoring and QA tools such as Recordsure\u2019s Conversation Intelligence\u2014to fill any gaps in their existing oversight plan now.\n\nTechnology-supported oversight and evidencing\n\nContact our RegTech experts today or book a brief introductory call to discuss how Recordsure\u2019s voice and document analytics can help you address regulatory challenges and deliver the best possible customer outcomes.", "wordCount": 807, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "FCA Business Plan" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Business Plan 2024/25", "url": "https://www.fca.org.uk/publications/business-plans/2024-25" }, { "@type": "CreativeWork", "name": "FCA strategy 2022 to 2025", "url": "https://www.fca.org.uk/publication/corporate/our-strategy-2022-25.pdf" }, { "@type": "CreativeWork", "name": "FCA plan for the year ahead press release", "url": "https://www.fca.org.uk/news/press-releases/fca-sets-out-plan-year-ahead" }, { "@type": "CreativeWork", "name": "FCA review of firms\u2019 treatment of vulnerable customers", "url": "https://www.fca.org.uk/news/news-stories/review-firms-treatment-customers-vulnerable-circumstances" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "text": "The Financial Conduct Authority (FCA), the UK\u2019s financial regulatory body, has released its annual Business Plan for 2024/25, which outlines its key objectives and regulatory priorities for the next 12 months.\n\nThe Business Plan restates the FCA\u2019s three main areas of focus:\n\n\u2022 Reducing and preventing financial crime\n\u2022 Putting consumers\u2019 needs first\n\u2022 Strengthening the UK\u2019s position in global wholesale markets\n\nThis period will mark the final phase of its three-year strategy (2022-2025) to drive positive change and create a more customer-focused environment within financial services.\n\nIt\u2019s also set to further the ambition of becoming a more \u2018outcomes-based, assertive and data-led\u2019 regulator that\u2019s able to meet the challenges of a fast-evolving market landscape." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "headline": "The regulator continues its commitment to protecting consumers from harm", "text": "Whilst there are some signs that the economic climate may be returning to relative normalcy after a few challenging years for consumers and businesses alike, the regulator remains committed to addressing the numerous financial challenges putting UK consumers at risk of financial harm. These include geopolitical uncertainty, global financial risks and above-average inflation.\n\nTo this end, the FCA has outlined three primary goals that tie into the vision outlined in its three-year strategy:\n\n\u2022 Protecting consumers\n\u2022 Ensuring market integrity\n\u2022 Promoting effective competition\n\nThe green light for new technologies\n\nCrucially, the regulator repeated its assertion that embracing new technologies will form a large piece of this puzzle, providing firms with the visibility and level of granular detail needed to address emerging risks and promote a more personalised service for customers.\n\nContextualising the agenda for the next 12 months, FCA Chief Executive, Nikhil Rathi noted that the regulator is committed to \u201cembracing the potential benefits that technology presents both for us and the firms we regulate, while also continuing to protect consumers and ensure market integrity.\u201d\n\nWhat does this mean for firms?\n\nIt\u2019s clear that the FCA sees the future of financial services as an increasingly digitised environment \u2013 with technological advancement helping to fill the monitoring gaps left by firms\u2019 existing, manual-focused oversight strategies." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA sets its sights on tackling vulnerability and poor outcomes", "text": "A core component of the FCA\u2019s mission to protect consumers from poor outcomes will be testing firms to see if they\u2019re adhering to the Consumer Duty \u2013 which came into effect in July 2023 for new and existing products and is set to be enforced for closed products from 31st July this year.\n\nIt\u2019s also worth noting that the regulator has recently announced a review of firms\u2019 treatment of vulnerable customers, signalling it will be ramping up its efforts to safeguard at-risk individuals and ensure firms are taking proactive measures to ensure good outcomes for customers.\n\nDedicated technology tools to help improve oversight and evidencing\n\nAnd that means now\u2019s the time for firms to be conducting an honest evaluation of their customer lifecycle if they haven\u2019t already \u2013 and investing in new technologies for better oversight that will allow them to ensure they\u2019re doing all they can to highlight vulnerability and deliver personalised support." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "headline": "Tech focus: Business Plan highlights growing role of technology to support compliance", "text": "As part of its efforts to cement itself as a \u2018world-class regulator\u2019, the FCA will continue its investment in smart analytics and process automation for both supervisory and enforcement applications. These tools are expected to help to identify and react to emerging risks in a quicker, more agile and efficient manner, allowing it to target higher risk firms and activities.\n\nIndeed, the regulator notes it\u2019s now \u2018making better use of data to spot and stop harm faster and is being tougher on the firms that could cause harm\u2019 \u2013 having removed more than 10,000 potentially misleading advertisements in 2023 and issued around 2,243 warnings regarding unauthorised firms and individuals." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "headline": "Advice to use technology within oversight strategies", "text": "But not only that: the regulator is also eager for firms to take bold action to explore the possibilities of using technology within their oversight strategies, having announced its intention to collaborate with firms on the \u2018safe deployment\u2019 of artificial intelligence (AI) systems over the coming year.\n\nAlmost a year after the launch of the Consumer Duty, firms should have a solid understanding of the data and MI they\u2019ll need to conduct their processes and effectively promote good outcomes.\n\nThat means firms should actively explore their options for technological solutions\u2014including AI-powered monitoring and QA tools such as Recordsure\u2019s Conversation Intelligence\u2014to fill any gaps in their existing oversight plan now." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "headline": "Technology-supported oversight and evidencing", "text": "Contact our RegTech experts today or book a brief introductory call to discuss how Recordsure\u2019s voice and document analytics can help you address regulatory challenges and deliver the best possible customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-business-plan-2024-25/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What are the FCA\u2019s three main focus areas in the Business Plan?", "acceptedAnswer": { "@type": "Answer", "text": "They are reducing and preventing financial crime, putting consumers\u2019 needs first and strengthening the UK\u2019s position in global wholesale markets." } }, { "@type": "Question", "name": "How does the Business Plan treat technology?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA sees technology as important for visibility, granular detail, data-led supervision and improved oversight." } }, { "@type": "Question", "name": "Why is vulnerability a regulatory priority?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has announced a review of firms\u2019 treatment of vulnerable customers and continues to test Consumer Duty outcomes." } }, { "@type": "Question", "name": "What should firms do in response?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should review customer lifecycles, understand their data and MI needs, and explore technology to fill oversight gaps." } } ] } ] } ``` ### Consumer Duty: increasing data oversight is key for effective outcomes monitoring - URL: https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/ - Published: 2024-03-12 - Modified: 2026-10-09 **Topic:** 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. #### Key points - The FCA has warned firms not to assume existing data is enough for Consumer Duty evidence. - Boards need evidence-led MI that shows whether customers receive good outcomes. - Absent data and incomplete records may require additional harm mitigation. - Conversation and document reviews can strengthen oversight where firms use advisers or call centres. The regulator has urged regulated businesses to continue paying attention to all aspects of the Consumer Duty, whilst noting several critical points that firms need to focus on as the Consumer Duty rollout continues. The [areas highlighted](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-implementation-good-practice-and-areas-improvement) included familiar challenges like demonstrating fair value and maintaining effective customer communications and firms should note the emphasis given to firms’ data and increased need for evidencing processes in response to the new ‘show me, don’t tell me’ supervision framework – this could be perceived as the regulator now calling firms’ “bluff”, warning they *‘should not be complacent and assume that they can just repackage existing data’.* It’s clear, then, that the FCA is expecting senior managers to embrace an evidence-based approach to decision making, backed up by hard data and meaningful insights that paint a clear picture of their customer lifecycle. And with the first Consumer Duty annual assessment deadline fast approaching (July 2024), now’s the time for Boards to be examining in real detail what kind of new data and MI they’ll need to achieve this type of customer-centric governance. But what does that mean and how do firms deliver on FCA expectations? #### A new kind of supervision requires new data, says FCA The Consumer Duty’s increased oversight requirements put the onus on senior leaders and board members to monitor whether good outcomes are truly being delivered for customers. And where they’re falling short, they’ll be expected to take action to rectify inefficiencies or blindspots – as well as embrace MI to learn from past mistakes. Speaking at [an event](https://www.fca.org.uk/news/speeches/consumer-duty-art-possible-year) organised by KPMG on 20th February, the FCA’s Executive Director, Consumers and Competition, Sheldon Mills, explained: *“A key part of the Duty is that firms are able to evidence the outcomes their customers are receiving, whether that relates to life insurance, mortgages, cash savings, funeral plans or any other open or closed product.”* In the same speech, Mills also mentioned the importance of being proactive in addressing any risks that could come from absent data or incomplete records: *“Where a firm can’t fill gaps in its records, it should take additional steps to mitigate the risk of harm to consumers – for example through enhanced outcomes testing for these customers.”* To address this problem, the FCA has previously called on firms to be bold and embrace new technologies to help them gather the right data to empower customers to meet their financial goals. As [Gary Maude](https://tcc.group/about/meet-the-team/), Director of Advisory Practice at our sister company, compliance consultancy [TCC Group](https://tcc.group/), points out: *“The real challenge we’re seeing firms encounter is maintaining visibility across their customer journey – right from ensuring their products and services are developed effectively from manufacture into distribution, and in after-sales care through review of ‘meaningful’ and ‘proportionate’ performance KPI and KRIs, which seek to understand performance versus expectation; not only of commercial performance but of customer fairness and value.* *“It’s becoming clear that the old ways of doing things – like relying on customer feedback and opinion surveys – simply aren’t offering the depth of information the Consumer Duty needs. And that’s why firms are increasingly turning to technology to show them what manual methods can’t.”* > It’s becoming clear that the old ways of doing things simply aren’t offering the depth of information the Consumer Duty needs. And that’s why firms are increasingly turning to technology to show them what manual methods can’t. Gary Maude, Director of Advisory Practice, TCC Group #### Discover complete oversight of your client-adviser conversations Where firms use advisers and/or call centres It’s no secret that both Consumer Duty rules and the [FCA handbook](https://www.handbook.fca.org.uk/handbook/PRIN/2A/9.html) call on firms to maintain regular, strong oversight of the communications and support it provides to its customers – defining success by their ability to determine: - Whether retail customers are being, or have been, sold products that have been designed to meet their needs, characteristics and objectives; - Whether the products that retail customers purchase provide fair value and appropriate action has been taken to address products identified as not providing fair value; - Whether retail customers are equipped with the right information to make effective, timely and properly informed decisions; - Whether retail customers receive the support they need to deliver service; and - Where customers require specific support e.g. vulnerable. #### Level up your compliance with technology Gathering the necessary information to satisfy the Consumer Duty requirements might seem like a daunting task, especially for larger firms who often hold hundreds of hours’ worth of interactions per month. That’s where Recordsure’s new technology comes into play. Working with TCC’s regulatory experts, Recordsure’s tech solutions were specifically created to address the challenges of regulated businesses. We help firms create reliable, efficient evidencing and audit trails, deliver unprecedented oversight and transparency, and – with the use of proprietary AI – drive effective process reviews without increasing costs. #### Oversight and analyses Our **Recordsure Capture** app is designed to create a reliable audio record of client conversations for evidence and analysis, which is especially valuable for in-person and online conversations whatever the environment. This allows for much higher volumes in Quality Assurance and responsive risk based reviews. **Recordsure Document Intelligence** – unique AI speech and document analytics tools – helps you transform your oversight strategy with smart automation, superior evidencing of outcomes and clear efficiencies. With 100% oversight and a more effective approach to conversation and document reviews, you can identify deep MI insights that help you pinpoint and address risks as they arise. #### Supporting sources - [FCA: Consumer Duty implementation, good practice and areas for improvement](https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-implementation-good-practice-and-areas-improvement) - [FCA speech: Consumer Duty, the art of the possible in a year](https://www.fca.org.uk/news/speeches/consumer-duty-art-possible-year) - [FCA handbook PRIN 2A.9](https://www.handbook.fca.org.uk/handbook/PRIN/2A/9.html) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Boards should assess what MI is needed for customer-centric governance.\n\nThe regulator has urged regulated businesses to continue paying attention to all aspects of the Consumer Duty, whilst noting several critical points that firms need to focus on as the Consumer Duty rollout continues.\n\nThe areas highlighted included familiar challenges like demonstrating fair value and maintaining effective customer communications and firms should note the emphasis given to firms\u2019 data and increased need for evidencing processes in response to the new \u2018show me, don\u2019t tell me\u2019 supervision framework \u2013 this could be perceived as the regulator now calling firms\u2019 \u201cbluff\u201d, warning they \u2018should not be complacent and assume that they can just repackage existing data\u2019.\n\nIt\u2019s clear, then, that the FCA is expecting senior managers to embrace an evidence-based approach to decision making, backed up by hard data and meaningful insights that paint a clear picture of their customer lifecycle.\n\nAnd with the first Consumer Duty annual assessment deadline fast approaching (July 2024), now\u2019s the time for Boards to be examining in real detail what kind of new data and MI they\u2019ll need to achieve this type of customer-centric governance.\n\nBut what does that mean and how do firms deliver on FCA expectations?\n\nA new kind of supervision requires new data, says FCA\n\nThe Consumer Duty\u2019s increased oversight requirements put the onus on senior leaders and board members to monitor whether good outcomes are truly being delivered for customers. And where they\u2019re falling short, they\u2019ll be expected to take action to rectify inefficiencies or blindspots \u2013 as well as embrace MI to learn from past mistakes.\n\nSpeaking at an event organised by KPMG on 20th February, the FCA\u2019s Executive Director, Consumers and Competition, Sheldon Mills, explained:\n\n\u201cA key part of the Duty is that firms are able to evidence the outcomes their customers are receiving, whether that relates to life insurance, mortgages, cash savings, funeral plans or any other open or closed product.\u201d\n\nIn the same speech, Mills also mentioned the importance of being proactive in addressing any risks that could come from absent data or incomplete records:\n\n\u201cWhere a firm can\u2019t fill gaps in its records, it should take additional steps to mitigate the risk of harm to consumers \u2013 for example through enhanced outcomes testing for these customers.\u201d\n\nTo address this problem, the FCA has previously called on firms to be bold and embrace new technologies to help them gather the right data to empower customers to meet their financial goals.\n\nAs Gary Maude, Director of Advisory Practice at our sister company, compliance consultancy TCC Group, points out:\n\n\u201cThe real challenge we\u2019re seeing firms encounter is maintaining visibility across their customer journey \u2013 right from ensuring their products and services are developed effectively from manufacture into distribution, and in after-sales care through review of \u2018meaningful\u2019 and \u2018proportionate\u2019 performance KPI and KRIs, which seek to understand performance versus expectation; not only of commercial performance but of customer fairness and value.\n\n\u201cIt\u2019s becoming clear that the old ways of doing things \u2013 like relying on customer feedback and opinion surveys \u2013 simply aren\u2019t offering the depth of information the Consumer Duty needs. And that\u2019s why firms are increasingly turning to technology to show them what manual methods can\u2019t.\u201d\n\nIt\u2019s becoming clear that the old ways of doing things simply aren\u2019t offering the depth of information the Consumer Duty needs. And that\u2019s why firms are increasingly turning to technology to show them what manual methods can\u2019t. Gary Maude, Director of Advisory Practice, TCC Group\n\nDiscover complete oversight of your client-adviser conversations\n\nWhere firms use advisers and/or call centres It\u2019s no secret that both Consumer Duty rules and the FCA handbook call on firms to maintain regular, strong oversight of the communications and support it provides to its customers \u2013 defining success by their ability to determine:\n\n\u2022 Whether retail customers are being, or have been, sold products that have been designed to meet their needs, characteristics and objectives;\n\u2022 Whether the products that retail customers purchase provide fair value and appropriate action has been taken to address products identified as not providing fair value;\n\u2022 Whether retail customers are equipped with the right information to make effective, timely and properly informed decisions;\n\u2022 Whether retail customers receive the support they need to deliver service; and\n\u2022 Where customers require specific support e.g. vulnerable.\n\nLevel up your compliance with technology\n\nGathering the necessary information to satisfy the Consumer Duty requirements might seem like a daunting task, especially for larger firms who often hold hundreds of hours\u2019 worth of interactions per month.\n\nThat\u2019s where Recordsure\u2019s new technology comes into play. Working with TCC\u2019s regulatory experts, Recordsure\u2019s tech solutions were specifically created to address the challenges of regulated businesses.\n\nWe help firms create reliable, efficient evidencing and audit trails, deliver unprecedented oversight and transparency, and \u2013 with the use of proprietary AI \u2013 drive effective process reviews without increasing costs.\n\nOversight and analyses\n\nOur Recordsure Capture app is designed to create a reliable audio record of client conversations for evidence and analysis, which is especially valuable for in-person and online conversations whatever the environment.\n\nThis allows for much higher volumes in Quality Assurance and responsive risk based reviews.\n\nRecordsure Document Intelligence \u2013 unique AI speech and document analytics tools \u2013 helps you transform your oversight strategy with smart automation, superior evidencing of outcomes and clear efficiencies.\n\nWith 100% oversight and a more effective approach to conversation and document reviews, you can identify deep MI insights that help you pinpoint and address risks as they arise.", "wordCount": 939, "keywords": [ "Banking", "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Outcomes monitoring" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA: Consumer Duty implementation, good practice and areas for improvement", "url": "https://www.fca.org.uk/publications/good-and-poor-practice/consumer-duty-implementation-good-practice-and-areas-improvement" }, { "@type": "CreativeWork", "name": "FCA speech: Consumer Duty, the art of the possible in a year", "url": "https://www.fca.org.uk/news/speeches/consumer-duty-art-possible-year" }, { "@type": "CreativeWork", "name": "FCA handbook PRIN 2A.9", "url": "https://www.handbook.fca.org.uk/handbook/PRIN/2A/9.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "text": "The regulator has urged regulated businesses to continue paying attention to all aspects of the Consumer Duty, whilst noting several critical points that firms need to focus on as the Consumer Duty rollout continues.\n\nThe areas highlighted included familiar challenges like demonstrating fair value and maintaining effective customer communications and firms should note the emphasis given to firms\u2019 data and increased need for evidencing processes in response to the new \u2018show me, don\u2019t tell me\u2019 supervision framework \u2013 this could be perceived as the regulator now calling firms\u2019 \u201cbluff\u201d, warning they \u2018should not be complacent and assume that they can just repackage existing data\u2019.\n\nIt\u2019s clear, then, that the FCA is expecting senior managers to embrace an evidence-based approach to decision making, backed up by hard data and meaningful insights that paint a clear picture of their customer lifecycle.\n\nAnd with the first Consumer Duty annual assessment deadline fast approaching (July 2024), now\u2019s the time for Boards to be examining in real detail what kind of new data and MI they\u2019ll need to achieve this type of customer-centric governance.\n\nBut what does that mean and how do firms deliver on FCA expectations?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "A new kind of supervision requires new data, says FCA", "text": "The Consumer Duty\u2019s increased oversight requirements put the onus on senior leaders and board members to monitor whether good outcomes are truly being delivered for customers. And where they\u2019re falling short, they\u2019ll be expected to take action to rectify inefficiencies or blindspots \u2013 as well as embrace MI to learn from past mistakes.\n\nSpeaking at an event organised by KPMG on 20th February, the FCA\u2019s Executive Director, Consumers and Competition, Sheldon Mills, explained:\n\n\u201cA key part of the Duty is that firms are able to evidence the outcomes their customers are receiving, whether that relates to life insurance, mortgages, cash savings, funeral plans or any other open or closed product.\u201d\n\nIn the same speech, Mills also mentioned the importance of being proactive in addressing any risks that could come from absent data or incomplete records:\n\n\u201cWhere a firm can\u2019t fill gaps in its records, it should take additional steps to mitigate the risk of harm to consumers \u2013 for example through enhanced outcomes testing for these customers.\u201d\n\nTo address this problem, the FCA has previously called on firms to be bold and embrace new technologies to help them gather the right data to empower customers to meet their financial goals.\n\nAs Gary Maude, Director of Advisory Practice at our sister company, compliance consultancy TCC Group, points out:\n\n\u201cThe real challenge we\u2019re seeing firms encounter is maintaining visibility across their customer journey \u2013 right from ensuring their products and services are developed effectively from manufacture into distribution, and in after-sales care through review of \u2018meaningful\u2019 and \u2018proportionate\u2019 performance KPI and KRIs, which seek to understand performance versus expectation; not only of commercial performance but of customer fairness and value.\n\n\u201cIt\u2019s becoming clear that the old ways of doing things \u2013 like relying on customer feedback and opinion surveys \u2013 simply aren\u2019t offering the depth of information the Consumer Duty needs. And that\u2019s why firms are increasingly turning to technology to show them what manual methods can\u2019t.\u201d\n\nIt\u2019s becoming clear that the old ways of doing things simply aren\u2019t offering the depth of information the Consumer Duty needs. And that\u2019s why firms are increasingly turning to technology to show them what manual methods can\u2019t. Gary Maude, Director of Advisory Practice, TCC Group" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Discover complete oversight of your client-adviser conversations", "text": "Where firms use advisers and/or call centres It\u2019s no secret that both Consumer Duty rules and the FCA handbook call on firms to maintain regular, strong oversight of the communications and support it provides to its customers \u2013 defining success by their ability to determine:\n\n\u2022 Whether retail customers are being, or have been, sold products that have been designed to meet their needs, characteristics and objectives;\n\u2022 Whether the products that retail customers purchase provide fair value and appropriate action has been taken to address products identified as not providing fair value;\n\u2022 Whether retail customers are equipped with the right information to make effective, timely and properly informed decisions;\n\u2022 Whether retail customers receive the support they need to deliver service; and\n\u2022 Where customers require specific support e.g. vulnerable." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Level up your compliance with technology", "text": "Gathering the necessary information to satisfy the Consumer Duty requirements might seem like a daunting task, especially for larger firms who often hold hundreds of hours\u2019 worth of interactions per month.\n\nThat\u2019s where Recordsure\u2019s new technology comes into play. Working with TCC\u2019s regulatory experts, Recordsure\u2019s tech solutions were specifically created to address the challenges of regulated businesses.\n\nWe help firms create reliable, efficient evidencing and audit trails, deliver unprecedented oversight and transparency, and \u2013 with the use of proprietary AI \u2013 drive effective process reviews without increasing costs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Oversight and analyses", "text": "Our Recordsure Capture app is designed to create a reliable audio record of client conversations for evidence and analysis, which is especially valuable for in-person and online conversations whatever the environment.\n\nThis allows for much higher volumes in Quality Assurance and responsive risk based reviews.\n\nRecordsure Document Intelligence \u2013 unique AI speech and document analytics tools \u2013 helps you transform your oversight strategy with smart automation, superior evidencing of outcomes and clear efficiencies.\n\nWith 100% oversight and a more effective approach to conversation and document reviews, you can identify deep MI insights that help you pinpoint and address risks as they arise." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-increasing-data-oversight-outcomes-monitoring/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA\u2019s Consumer Duty commentary emphasise?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA emphasised evidence-led oversight, stronger data, fair value, customer communications and the need not to rely on repackaged existing data." } }, { "@type": "Question", "name": "Why does incomplete data create risk?", "acceptedAnswer": { "@type": "Answer", "text": "Firms that cannot fill gaps in records should take additional steps to mitigate consumer harm, including enhanced outcomes testing where needed." } }, { "@type": "Question", "name": "What customer communications should firms oversee?", "acceptedAnswer": { "@type": "Answer", "text": "Adviser and call-centre communications, customer support, product suitability, fair value, information quality and vulnerability-related support all need oversight." } }, { "@type": "Question", "name": "How does Recordsure support outcomes monitoring?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure Capture creates audio records for evidence and analysis, while Document Intelligence supports conversation and document review, MI and risk identification." } } ] } ] } ``` ### The FCA’s motor finance focus reveals the importance of robust oversight - URL: https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/ - Published: 2024-02-20 - Modified: 2026-10-09 **Topic:** Motor finance 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. #### Key points - The FCA announced plans to issue S166 Requirement Notices to several motor finance firms over historical sales practices. - The review focuses on discretionary commission arrangements, which were banned in 2021 after concerns about incentives to raise finance costs. - Firms should review frameworks, practices and potential past-business exposure while strengthening evidence of customer conversations. - Conversation Intelligence helps create searchable records, transcripts, segmentation and assurance over customer interactions. On 11th January 2024, the FCA announced plans to issue S166 Requirement Notices to several motor finance firms over historical sales practices. The [notice](https://www.fca.org.uk/news/statements/fca-undertake-work-motor-finance-market) raised new concerns over discretionary commission agreements, which were [banned in 2021](https://www.fca.org.uk/publication/policy/ps20-8.pdf), as the regulator felt they *‘give motor finance brokers/dealers an incentive to raise customers’ finance costs’*. As a result of two recent adjudications by the Financial Ombudsman Service that found firms have been rejecting almost all complaints, the FCA expects a significant increase in complaint volumes in this area. In response, the FCA intends to conduct a full review of complaint handling. It is expected to issue S166s under powers granted by the Financial Services and Markets Act 2000 to a number of motor finance providers, suspend the eight-week rule for responding to relevant motor finance complaints, and consider next steps for compensation if deemed necessary. #### The FCA’s upcoming motor finance review The key message from the FCA’s commentary is around differences in firm and customer perspectives on discretionary commission arrangements. This is reminiscent of the regulatory work conducted around payment protection insurance, which became a major initiative for the regulator. While it is not possible to size the issue accurately now, the emerging consensus is that it could be similar in size and cost to payment protection insurance. Motor finance firms should take a closer look at their frameworks and practices, and assess the size of the potential impact of the regulator’s planned work on their own past business. Post-Consumer Duty implementation, the review is also a real-world case study in the importance of strong oversight. With increased regulatory scrutiny and tighter consumer care standards, spearheaded by the FCA’s ‘show me, don’t tell me’ approach to supervision, firms need an audit trail of client-adviser conversations. #### Building an oversight strategy with Recordsure Capture Customer conversations now take place across desk-based face-to-face meetings, shop-floor discussions and online meetings. Keeping a reliable, secure record of exactly what was said and when has long been a logistical challenge. Despite the Consumer Duty adding pressure on businesses to deliver clear evidence of their advice process and support good outcomes, many firms still rely on paper-based meeting notes for compliance reporting. With Recordsure Capture, firms can change the way they record and evidence customer conversations. [Recordsure Capture](/technology/conversation-intelligence/) is an app designed to create recordings of in-person and online spoken interactions. Available for iOS, Windows and Android devices, the tamper-proof tool helps maintain an authoritative record of customer interactions for regulatory reporting and can record without an internet connection. Thanks to [patented technology](/insights/news/recordsure-secures-new-patents-capture-app-technology/), recordings are automatically uploaded to a secure, searchable web-based portal for review and play back. #### Conversation Intelligence modules With Recordsure Capture, firms can reduce the risk of missing a conversation and maintain high-quality records of in-person and online customer conversations when needed. Conversation Intelligence modules add further oversight and insight into emerging risks. - **Transcribe:** auto-generate an accurate text transcript of customer conversations, with transcript word search capability to pinpoint specific terms or phrases. - **Classify:** segment conversations by topic so reviewers can complete call reviews in half the time. - **Assure:** AI designed for financial services assesses and scores 100% of conversations with 90+% accuracy before a human gets involved, directing reviewers to parts of conversations scored as non-compliant. #### Supporting sources - [FCA to undertake work in motor finance market](https://www.fca.org.uk/news/statements/fca-undertake-work-motor-finance-market) - [FCA policy statement on discretionary commission models](https://www.fca.org.uk/publication/policy/ps20-8.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The FCA\u2019s motor finance focus reveals the importance of robust oversight", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/", "name": "The FCA\u2019s motor finance focus reveals the importance of robust oversight", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-02-20T10:09:31+00:00", "dateModified": "2024-07-31T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-07-31" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The FCA\u2019s motor finance focus reveals the importance of robust oversight", "datePublished": "2024-02-20T10:09:31+00:00", "dateModified": "2026-10-09T04:50:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/144cbceb7184479f9966460a74c05d84/thumbnail-1024-3dc41a8a760e33931b7dbc3d2d896de6fe950e8819da73fc141d29531509b76c.jpg", "description": "The FCA\u2019s motor finance work shows why firms need accurate records of customer conversations, clear complaint evidence and oversight that can withstand scrutiny.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s 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.\n\nOn 11th January 2024, the FCA announced plans to issue S166 Requirement Notices to several motor finance firms over historical sales practices.\n\nThe notice raised new concerns over discretionary commission agreements, which were banned in 2021, as the regulator felt they \u2018give motor finance brokers/dealers an incentive to raise customers\u2019 finance costs\u2019.\n\nAs a result of two recent adjudications by the Financial Ombudsman Service that found firms have been rejecting almost all complaints, the FCA expects a significant increase in complaint volumes in this area.\n\nIn response, the FCA intends to conduct a full review of complaint handling. It is expected to issue S166s under powers granted by the Financial Services and Markets Act 2000 to a number of motor finance providers, suspend the eight-week rule for responding to relevant motor finance complaints, and consider next steps for compensation if deemed necessary.\n\nThe FCA\u2019s upcoming motor finance review\n\nThe key message from the FCA\u2019s commentary is around differences in firm and customer perspectives on discretionary commission arrangements. This is reminiscent of the regulatory work conducted around payment protection insurance, which became a major initiative for the regulator. While it is not possible to size the issue accurately now, the emerging consensus is that it could be similar in size and cost to payment protection insurance.\n\nMotor finance firms should take a closer look at their frameworks and practices, and assess the size of the potential impact of the regulator\u2019s planned work on their own past business.\n\nPost-Consumer Duty implementation, the review is also a real-world case study in the importance of strong oversight. With increased regulatory scrutiny and tighter consumer care standards, spearheaded by the FCA\u2019s \u2018show me, don\u2019t tell me\u2019 approach to supervision, firms need an audit trail of client-adviser conversations.\n\nBuilding an oversight strategy with Recordsure Capture\n\nCustomer conversations now take place across desk-based face-to-face meetings, shop-floor discussions and online meetings. Keeping a reliable, secure record of exactly what was said and when has long been a logistical challenge.\n\nDespite the Consumer Duty adding pressure on businesses to deliver clear evidence of their advice process and support good outcomes, many firms still rely on paper-based meeting notes for compliance reporting.\n\nWith Recordsure Capture, firms can change the way they record and evidence customer conversations. Recordsure Capture is an app designed to create recordings of in-person and online spoken interactions.\n\nAvailable for iOS, Windows and Android devices, the tamper-proof tool helps maintain an authoritative record of customer interactions for regulatory reporting and can record without an internet connection. Thanks to patented technology, recordings are automatically uploaded to a secure, searchable web-based portal for review and play back.\n\nConversation Intelligence modules\n\nWith Recordsure Capture, firms can reduce the risk of missing a conversation and maintain high-quality records of in-person and online customer conversations when needed. Conversation Intelligence modules add further oversight and insight into emerging risks.\n\n\u2022 Transcribe: auto-generate an accurate text transcript of customer conversations, with transcript word search capability to pinpoint specific terms or phrases.\n\u2022 Classify: segment conversations by topic so reviewers can complete call reviews in half the time.\n\u2022 Assure: AI designed for financial services assesses and scores 100% of conversations with 90+% accuracy before a human gets involved, directing reviewers to parts of conversations scored as non-compliant.", "wordCount": 574, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Motor finance oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA to undertake work in motor finance market", "url": "https://www.fca.org.uk/news/statements/fca-undertake-work-motor-finance-market" }, { "@type": "CreativeWork", "name": "FCA policy statement on discretionary commission models", "url": "https://www.fca.org.uk/publication/policy/ps20-8.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "inLanguage": "en-GB", "text": "On 11th January 2024, the FCA announced plans to issue S166 Requirement Notices to several motor finance firms over historical sales practices.\n\nThe notice raised new concerns over discretionary commission agreements, which were banned in 2021, as the regulator felt they \u2018give motor finance brokers/dealers an incentive to raise customers\u2019 finance costs\u2019.\n\nAs a result of two recent adjudications by the Financial Ombudsman Service that found firms have been rejecting almost all complaints, the FCA expects a significant increase in complaint volumes in this area.\n\nIn response, the FCA intends to conduct a full review of complaint handling. It is expected to issue S166s under powers granted by the Financial Services and Markets Act 2000 to a number of motor finance providers, suspend the eight-week rule for responding to relevant motor finance complaints, and consider next steps for compensation if deemed necessary." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "The FCA\u2019s upcoming motor finance review", "text": "The key message from the FCA\u2019s commentary is around differences in firm and customer perspectives on discretionary commission arrangements. This is reminiscent of the regulatory work conducted around payment protection insurance, which became a major initiative for the regulator. While it is not possible to size the issue accurately now, the emerging consensus is that it could be similar in size and cost to payment protection insurance.\n\nMotor finance firms should take a closer look at their frameworks and practices, and assess the size of the potential impact of the regulator\u2019s planned work on their own past business.\n\nPost-Consumer Duty implementation, the review is also a real-world case study in the importance of strong oversight. With increased regulatory scrutiny and tighter consumer care standards, spearheaded by the FCA\u2019s \u2018show me, don\u2019t tell me\u2019 approach to supervision, firms need an audit trail of client-adviser conversations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Building an oversight strategy with Recordsure Capture", "text": "Customer conversations now take place across desk-based face-to-face meetings, shop-floor discussions and online meetings. Keeping a reliable, secure record of exactly what was said and when has long been a logistical challenge.\n\nDespite the Consumer Duty adding pressure on businesses to deliver clear evidence of their advice process and support good outcomes, many firms still rely on paper-based meeting notes for compliance reporting.\n\nWith Recordsure Capture, firms can change the way they record and evidence customer conversations. Recordsure Capture is an app designed to create recordings of in-person and online spoken interactions.\n\nAvailable for iOS, Windows and Android devices, the tamper-proof tool helps maintain an authoritative record of customer interactions for regulatory reporting and can record without an internet connection. Thanks to patented technology, recordings are automatically uploaded to a secure, searchable web-based portal for review and play back." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "inLanguage": "en-GB", "headline": "Conversation Intelligence modules", "text": "With Recordsure Capture, firms can reduce the risk of missing a conversation and maintain high-quality records of in-person and online customer conversations when needed. Conversation Intelligence modules add further oversight and insight into emerging risks.\n\n\u2022 Transcribe: auto-generate an accurate text transcript of customer conversations, with transcript word search capability to pinpoint specific terms or phrases.\n\u2022 Classify: segment conversations by topic so reviewers can complete call reviews in half the time.\n\u2022 Assure: AI designed for financial services assesses and scores 100% of conversations with 90+% accuracy before a human gets involved, directing reviewers to parts of conversations scored as non-compliant." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-motor-finance-focus-robust-oversight/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What prompted the FCA\u2019s motor finance work?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA raised concerns about discretionary commission agreements and complaint handling after Financial Ombudsman Service adjudications found firms had rejected almost all complaints." } }, { "@type": "Question", "name": "What actions is the FCA expected to take?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA is expected to issue S166s to some motor finance providers, suspend the eight-week complaint response rule for relevant complaints and consider compensation next steps if needed." } }, { "@type": "Question", "name": "Why are conversation records important?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA\u2019s \u2018show me, don\u2019t tell me\u2019 approach increases the need for reliable evidence of what was said in client-adviser conversations." } }, { "@type": "Question", "name": "What does Conversation Intelligence add?", "acceptedAnswer": { "@type": "Answer", "text": "It supports recording, transcription, topic segmentation and assurance scoring so firms can review conversations and evidence customer interactions more consistently." } } ] } ] } ``` ### Recordsure secures new patents for ground-breaking Capture app technology - URL: https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/ - Published: 2024-01-17 - Modified: 2026-10-09 **Topic:** Capture patents Recordsure was granted patents in the US and Europe, including the UK, for the store and forward technology at the heart of its Capture solution. The patented methods support secure, tamper-proof recordings and upload to digital storage, including offline use. #### Key points - Recordsure was granted US and European patents for Capture’s store and forward technology. - Capture records face-to-face or online conversations in a safe, searchable form. - The patents cover secure, tamper-proof recordings and upload to digital storage, including offline use. - Capture supports financial services and government recording requirements. Recordsure was granted patents in the US and Europe, including the UK, for the store and forward technology at the heart of its Capture solution. Recordsure’s [Capture](/technology/conversation-intelligence/) app enables financial services firms to record both face-to-face and online conversations in a high-quality, safe and searchable form. The newly awarded patents cover the methods used within the technology to support secure, tamper-proof recordings and their upload to digital storage, even when using the Capture app offline. #### Patent details Recordsure Capture is used by financial services and government organisations and is compatible with Windows, Android and Apple devices. These Recordsure patents are granted as US Patent number US11463421B2 and EU Patent number EP3497875B1. #### Complete audio records of customer conversations Before Recordsure Capture, financial services firms had no method of recording in-person conversations in a sufficiently secure and GDPR-compliant way. They could also have difficulty verifying the authenticity of a recording if a customer, regulator or court questioned its legitimacy. This was true even when the recording was made in a customer’s business premises or home, where it is not usually feasible to establish an Internet connection. In that situation, the recording would need to temporarily reside on the mobile device or laptop. For government applications, Recordsure Capture is required to be compliant with the Police and Criminal Evidence Act 1984 (PACE Act) and its subsequent updates for Secure Digital Networking solutions. This requirement ensures conversation recordings are authentic and tamper-proof, enabling them to be considered non-repudiable if the digital interview record needs to be evidenced in court. The recording may need to be made offline, such as at an air or sea port, or in a hospital, police station or prison setting. Recordsure Capture offers a portable and secure replacement for the legacy analogue tape or CD recording methods that remain widespread across central and local government departments. #### Secure audit trails from proprietary technology The technology patents cover inventions within Recordsure Capture that enable evidentiary recordings to be made within industries that need 100% certainty that a true record of conversations is made and retained, whatever the location. Reliably capturing conversations using commodity hardware has taken years of design and development, because laptops can crash and batteries can run dry on mobile phones and tablets. Constant network connectivity also cannot usually be guaranteed in interview settings. Recordsure Capture has been tested in production across many devices and environments, alongside the latest generation of Recordsure Advanced Microphones. These microphones can detect human speech, focus a microphone beam directly on in-person meeting participants, and reduce background noise from unwanted sources such as air conditioners, shuffling papers, keyboards, traffic, sirens or room echo. Through research and development, Recordsure’s technologies provide high-quality digital interview recording and storage solutions for organisations that need dependable audit trails. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure secures new patents for ground-breaking Capture app technology", "item": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage", "url": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/", "name": "Recordsure secures new patents for ground-breaking Capture app technology", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-01-17T11:54:13+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure secures new patents for ground-breaking Capture app technology", "datePublished": "2024-01-17T11:54:13+00:00", "dateModified": "2026-10-09T04:50:33+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e8d9c4f5ef8043138279b4d23d4673e3/thumbnail-1024-eff52952d6d5a70182cacfdba9697f16698bec8ec99274554f718f82cf251205.jpg", "description": "Recordsure secured US and European patents for the store and forward technology behind Capture, supporting secure recordings even when the app is used offline.", "inLanguage": "en-GB", "articleBody": "Recordsure was granted patents in the US and Europe, including the UK, for the store and forward technology at the heart of its Capture solution. The patented methods support secure, tamper-proof recordings and upload to digital storage, including offline use.\n\nRecordsure was granted patents in the US and Europe, including the UK, for the store and forward technology at the heart of its Capture solution.\n\nRecordsure\u2019s Capture app enables financial services firms to record both face-to-face and online conversations in a high-quality, safe and searchable form.\n\nThe newly awarded patents cover the methods used within the technology to support secure, tamper-proof recordings and their upload to digital storage, even when using the Capture app offline.\n\nPatent details\n\nRecordsure Capture is used by financial services and government organisations and is compatible with Windows, Android and Apple devices.\n\nThese Recordsure patents are granted as US Patent number US11463421B2 and EU Patent number EP3497875B1.\n\nComplete audio records of customer conversations\n\nBefore Recordsure Capture, financial services firms had no method of recording in-person conversations in a sufficiently secure and GDPR-compliant way. They could also have difficulty verifying the authenticity of a recording if a customer, regulator or court questioned its legitimacy.\n\nThis was true even when the recording was made in a customer\u2019s business premises or home, where it is not usually feasible to establish an Internet connection. In that situation, the recording would need to temporarily reside on the mobile device or laptop.\n\nFor government applications, Recordsure Capture is required to be compliant with the Police and Criminal Evidence Act 1984 (PACE Act) and its subsequent updates for Secure Digital Networking solutions.\n\nThis requirement ensures conversation recordings are authentic and tamper-proof, enabling them to be considered non-repudiable if the digital interview record needs to be evidenced in court. The recording may need to be made offline, such as at an air or sea port, or in a hospital, police station or prison setting.\n\nRecordsure Capture offers a portable and secure replacement for the legacy analogue tape or CD recording methods that remain widespread across central and local government departments.\n\nSecure audit trails from proprietary technology\n\nThe technology patents cover inventions within Recordsure Capture that enable evidentiary recordings to be made within industries that need 100% certainty that a true record of conversations is made and retained, whatever the location.\n\nReliably capturing conversations using commodity hardware has taken years of design and development, because laptops can crash and batteries can run dry on mobile phones and tablets. Constant network connectivity also cannot usually be guaranteed in interview settings.\n\nRecordsure Capture has been tested in production across many devices and environments, alongside the latest generation of Recordsure Advanced Microphones. These microphones can detect human speech, focus a microphone beam directly on in-person meeting participants, and reduce background noise from unwanted sources such as air conditioners, shuffling papers, keyboards, traffic, sirens or room echo.\n\nThrough research and development, Recordsure\u2019s technologies provide high-quality digital interview recording and storage solutions for organisations that need dependable audit trails.", "wordCount": 499, "keywords": [ "Government" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Capture patents" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was granted patents in the US and Europe, including the UK, for the store and forward technology at the heart of its Capture solution.\n\nRecordsure\u2019s Capture app enables financial services firms to record both face-to-face and online conversations in a high-quality, safe and searchable form.\n\nThe newly awarded patents cover the methods used within the technology to support secure, tamper-proof recordings and their upload to digital storage, even when using the Capture app offline." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "inLanguage": "en-GB", "headline": "Patent details", "text": "Recordsure Capture is used by financial services and government organisations and is compatible with Windows, Android and Apple devices.\n\nThese Recordsure patents are granted as US Patent number US11463421B2 and EU Patent number EP3497875B1." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "inLanguage": "en-GB", "headline": "Complete audio records of customer conversations", "text": "Before Recordsure Capture, financial services firms had no method of recording in-person conversations in a sufficiently secure and GDPR-compliant way. They could also have difficulty verifying the authenticity of a recording if a customer, regulator or court questioned its legitimacy.\n\nThis was true even when the recording was made in a customer\u2019s business premises or home, where it is not usually feasible to establish an Internet connection. In that situation, the recording would need to temporarily reside on the mobile device or laptop.\n\nFor government applications, Recordsure Capture is required to be compliant with the Police and Criminal Evidence Act 1984 (PACE Act) and its subsequent updates for Secure Digital Networking solutions.\n\nThis requirement ensures conversation recordings are authentic and tamper-proof, enabling them to be considered non-repudiable if the digital interview record needs to be evidenced in court. The recording may need to be made offline, such as at an air or sea port, or in a hospital, police station or prison setting.\n\nRecordsure Capture offers a portable and secure replacement for the legacy analogue tape or CD recording methods that remain widespread across central and local government departments." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "inLanguage": "en-GB", "headline": "Secure audit trails from proprietary technology", "text": "The technology patents cover inventions within Recordsure Capture that enable evidentiary recordings to be made within industries that need 100% certainty that a true record of conversations is made and retained, whatever the location.\n\nReliably capturing conversations using commodity hardware has taken years of design and development, because laptops can crash and batteries can run dry on mobile phones and tablets. Constant network connectivity also cannot usually be guaranteed in interview settings.\n\nRecordsure Capture has been tested in production across many devices and environments, alongside the latest generation of Recordsure Advanced Microphones. These microphones can detect human speech, focus a microphone beam directly on in-person meeting participants, and reduce background noise from unwanted sources such as air conditioners, shuffling papers, keyboards, traffic, sirens or room echo.\n\nThrough research and development, Recordsure\u2019s technologies provide high-quality digital interview recording and storage solutions for organisations that need dependable audit trails." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-secures-new-patents-capture-app-technology/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What patents did Recordsure secure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure secured US and European patents, including the UK, for Capture\u2019s store and forward technology." } }, { "@type": "Question", "name": "What does Capture do?", "acceptedAnswer": { "@type": "Answer", "text": "Capture records face-to-face or online conversations in a high-quality, safe and searchable form." } }, { "@type": "Question", "name": "Why is offline capture important?", "acceptedAnswer": { "@type": "Answer", "text": "Conversations may need to be recorded where a network connection cannot be guaranteed, such as customer premises, ports, hospitals, police stations or prisons." } }, { "@type": "Question", "name": "Which patent numbers are listed?", "acceptedAnswer": { "@type": "Answer", "text": "The patents are listed as US Patent number US11463421B2 and EU Patent number EP3497875B1." } } ] } ] } ``` ### Recordsure partners with intelliflo to support digitalised transformation of wealth management sector - URL: https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/ - Published: 2024-01-11 - Modified: 2024-01-11 **Topic:** intelliflo partnership Recordsure and intelliflo have partnered on an integration that adds Recordsure’s Conversation Intelligence and Document Intelligence speech and document analytics to intelliflo office, helping wealth management firms monitor, review and evidence client advice more efficiently. #### Key points - Recordsure and intelliflo have partnered on an integration, available via an app in the intelliflo store, to accelerate digital transformation in wealth management. - Recordsure’s Conversation Intelligence and Document Intelligence bring speech and document analytics for suitability and assurance reviews into intelliflo office. - Firms can complete reviews twice as fast, highlight high-risk cases instead of relying on random sampling, and use MI to identify thematic trends. - Service cases pass to Recordsure at the pre- or post-sale stage, and QA evidential records are processed back into intelliflo office. Recordsure, an AI RegTech provider, and intelliflo, a global leader in financial advice technology, have partnered on an integration to accelerate the digitalised transformation of the wealth management sector. Available via an app in the intelliflo store, the solution aims to enhance advice review efficiencies and fair outcomes for clients. Currently supporting over 30,000 financial professionals worldwide, [intelliflo](https://www.intelliflo.com/) widens access to financial advice through its market-leading technology. With its open software architecture and unmatched industry experience, intelliflo’s ambition is to simplify a complex digital landscape, enabling firms to thrive and grow. This collaboration introduces smarter, faster and resource-efficient tools for wealth management firms to monitor, review and evidence client advice. #### An integrated addition to intelliflo office [Recordsure’s Conversation Intelligence and Document Intelligence](/) suite is an integrated addition to [intelliflo office](https://www.intelliflo.com/our-solutions/intelliflo-office/) – a tailor-made solution for financial advisers that serves as a comprehensive and flexible business management resource. Designed to streamline business processes, improve efficiency and save time, the suite incorporates speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews. Recordsure’s combination of smart people and technology helps financial services firms transform their review processes. The suite’s features empower financial professionals to complete reviews twice as fast, remove reliance on random sampling by highlighting high-risk cases, and give access to data-powered Management Information (MI) to identify thematic trends. Recordsure integrates with intelliflo office, passing service cases at the pre- or post-sale stage to Recordsure’s dedicated review system. The suite enables automation and efficiency for file review teams and collates QA evidential records that are then processed back into intelliflo office. #### Comments from intelliflo and Recordsure Nick Eatock, CEO of intelliflo, commented on the new addition to intelliflo office: > intelliflo’s integrated partnership with Recordsure supports our commitment to providing our customers with access to the right technology – with the aim to help firms achieve growth, evolve, and, most importantly, offer clients a more consistent and efficient experience. Joe Norburn, Group CEO of Recordsure & TCC Group, said: “Document Intelligence offers a more efficient, effective, and consistent approach to advice reviews. Our solutions provide access to unique data, insights, and trends – and give intelliflo office’s customers the confidence to take data-driven actions to improve their client service and experience.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure partners with intelliflo to support digitalised transformation of wealth management sector", "item": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage", "url": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/", "name": "Recordsure partners with intelliflo to support digitalised transformation of wealth management sector", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2024-01-11T09:00:56+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure partners with intelliflo to support digitalised transformation of wealth management sector", "datePublished": "2024-01-11T09:00:56+00:00", "dateModified": "2024-01-11T09:00:56+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/d973c83a14ca42418ae17594901f3fc6/thumbnail-1024-d1a44d6af0f636b84d759cd374e1a5600e51eea8ccb43e094ec70d291b9d7213.jpg", "description": "Recordsure and intelliflo have partnered on an integration that brings AI-driven speech and document analytics into intelliflo office, helping wealth management firms monitor, review and evidence client advice more efficiently.", "inLanguage": "en-GB", "articleBody": "Recordsure and intelliflo have partnered on an integration that adds Recordsure\u2019s Conversation Intelligence and Document Intelligence speech and document analytics to intelliflo office, helping wealth management firms monitor, review and evidence client advice more efficiently.\n\nRecordsure, an AI RegTech provider, and intelliflo, a global leader in financial advice technology, have partnered on an integration to accelerate the digitalised transformation of the wealth management sector. Available via an app in the intelliflo store, the solution aims to enhance advice review efficiencies and fair outcomes for clients.\n\nCurrently supporting over 30,000 financial professionals worldwide, intelliflo widens access to financial advice through its market-leading technology. With its open software architecture and unmatched industry experience, intelliflo\u2019s ambition is to simplify a complex digital landscape, enabling firms to thrive and grow.\n\nThis collaboration introduces smarter, faster and resource-efficient tools for wealth management firms to monitor, review and evidence client advice.\n\nAn integrated addition to intelliflo office\n\nRecordsure\u2019s Conversation Intelligence and Document Intelligence suite is an integrated addition to intelliflo office \u2013 a tailor-made solution for financial advisers that serves as a comprehensive and flexible business management resource.\n\nDesigned to streamline business processes, improve efficiency and save time, the suite incorporates speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews.\n\nRecordsure\u2019s combination of smart people and technology helps financial services firms transform their review processes. The suite\u2019s features empower financial professionals to complete reviews twice as fast, remove reliance on random sampling by highlighting high-risk cases, and give access to data-powered Management Information (MI) to identify thematic trends.\n\nRecordsure integrates with intelliflo office, passing service cases at the pre- or post-sale stage to Recordsure\u2019s dedicated review system. The suite enables automation and efficiency for file review teams and collates QA evidential records that are then processed back into intelliflo office.\n\nComments from intelliflo and Recordsure\n\nNick Eatock, CEO of intelliflo, commented on the new addition to intelliflo office:\n\nintelliflo\u2019s integrated partnership with Recordsure supports our commitment to providing our customers with access to the right technology \u2013 with the aim to help firms achieve growth, evolve, and, most importantly, offer clients a more consistent and efficient experience.\n\nJoe Norburn, Group CEO of Recordsure & TCC Group, said: \u201cDocument Intelligence offers a more efficient, effective, and consistent approach to advice reviews. Our solutions provide access to unique data, insights, and trends \u2013 and give intelliflo office\u2019s customers the confidence to take data-driven actions to improve their client service and experience.\u201d", "wordCount": 409, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "intelliflo partnership" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure, an AI RegTech provider, and intelliflo, a global leader in financial advice technology, have partnered on an integration to accelerate the digitalised transformation of the wealth management sector. Available via an app in the intelliflo store, the solution aims to enhance advice review efficiencies and fair outcomes for clients.\n\nCurrently supporting over 30,000 financial professionals worldwide, intelliflo widens access to financial advice through its market-leading technology. With its open software architecture and unmatched industry experience, intelliflo\u2019s ambition is to simplify a complex digital landscape, enabling firms to thrive and grow.\n\nThis collaboration introduces smarter, faster and resource-efficient tools for wealth management firms to monitor, review and evidence client advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "An integrated addition to intelliflo office", "text": "Recordsure\u2019s Conversation Intelligence and Document Intelligence suite is an integrated addition to intelliflo office \u2013 a tailor-made solution for financial advisers that serves as a comprehensive and flexible business management resource.\n\nDesigned to streamline business processes, improve efficiency and save time, the suite incorporates speech and document analytics tools that provide AI-driven RegTech solutions for suitability and assurance reviews.\n\nRecordsure\u2019s combination of smart people and technology helps financial services firms transform their review processes. The suite\u2019s features empower financial professionals to complete reviews twice as fast, remove reliance on random sampling by highlighting high-risk cases, and give access to data-powered Management Information (MI) to identify thematic trends.\n\nRecordsure integrates with intelliflo office, passing service cases at the pre- or post-sale stage to Recordsure\u2019s dedicated review system. The suite enables automation and efficiency for file review teams and collates QA evidential records that are then processed back into intelliflo office." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "headline": "Comments from intelliflo and Recordsure", "text": "Nick Eatock, CEO of intelliflo, commented on the new addition to intelliflo office:\n\nintelliflo\u2019s integrated partnership with Recordsure supports our commitment to providing our customers with access to the right technology \u2013 with the aim to help firms achieve growth, evolve, and, most importantly, offer clients a more consistent and efficient experience.\n\nJoe Norburn, Group CEO of Recordsure & TCC Group, said: \u201cDocument Intelligence offers a more efficient, effective, and consistent approach to advice reviews. Our solutions provide access to unique data, insights, and trends \u2013 and give intelliflo office\u2019s customers the confidence to take data-driven actions to improve their client service and experience.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-partners-with-intelliflo/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How does the integration with intelliflo office work?", "acceptedAnswer": { "@type": "Answer", "text": "Available via an app in the intelliflo store, it passes service cases from intelliflo office to Recordsure at the pre- or post-sale stage and processes the QA evidential records collated for file review teams back into intelliflo office." } }, { "@type": "Question", "name": "What can wealth management firms gain from it?", "acceptedAnswer": { "@type": "Answer", "text": "Firms can complete reviews twice as fast, remove reliance on random sampling by highlighting high-risk cases, and use data-powered Management Information to identify thematic trends." } } ] } ] } ``` ### Recordsure retains Silver EcoVadis Medal in recognition of sustainability efforts - URL: https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/ - Published: 2024-01-09 - Modified: 2026-10-09 **Topic:** EcoVadis sustainability Recordsure received a Silver Medal from EcoVadis for the third consecutive year. The assessment recognised a 68/100 score and Advanced status in Environment, Labour and Human Rights, and Ethics. #### Key points - Recordsure received a Silver Medal from EcoVadis for the third year running. - The Sustainability Scorecard gave Recordsure 68/100 for the past 12 months. - The score placed Recordsure in the top 10% of companies in its category. - Recordsure achieved Advanced status in Environment, Labour and Human Rights, and Ethics. - EcoVadis assessments follow international standards including GRI, UN Global Compact and ISO 26000. We’re very pleased to share that Recordsure has once again received a Silver Medal from environmental, social, and governance (ESG) assessment experts EcoVadis for our ongoing commitment to sustainable business practices. According to [EcoVadis](https://ecovadis.com/)’ Sustainability Scorecard – which maps firms’ performance and progress via 21 separate indicators – Recordsure obtained a total score of 68/100 for our efforts over the past 12 months, placing us within the top 10% of companies within our category. As a business that’s passionate about making a positive impact towards global climate and social challenges, we’re particularly delighted to have our efforts recognised with Advanced attainment status in three distinct areas: Environment, Labor & Human Rights, and Ethics. Recordsure’s Sustainability Lead, Chris Matthews, said: Being awarded a Silver Medal from EcoVadis for the third year running is a true testament to the progressive and inclusive vision that’s shared by the whole Recordsure team. We’re proud that our clients and partners can trust our commitment to working to the highest legislative and ethical standards – and that we’ll always go over and beyond to important causes to actively put positive change at the focus of everything we do. Chris Matthews, Sustainability Lead, Recordsure EcoVadis was originally founded in 2007 and is now considered one of the world’s most trusted business sustainability rankings, operating across more than 200 diverse industries with a presence in over 175 countries. Overseen by a specialist panel of supply chain and green business experts, the EcoVadis assessment process is tailored to the firm’s country, industry and company size to ensure maximum accuracy and attention to detail. Each evaluation is carried out in close accordance with the latest international sustainability standards, including the [Global Reporting Initiative](https://www.globalreporting.org/), [UN Global Compact](https://unglobalcompact.org/) and [ISO 26000](https://www.iso.org/iso-26000-social-responsibility.html). We’d like to take this opportunity to congratulate all our Recordsure colleagues for their hard work in driving our continued positive transformation over the past year – as well as thank EcoVadis for their continued support and encouragement as we look to make 2024 our most impactful year yet! #### Supporting sources - [EcoVadis](https://ecovadis.com/) - [Global Reporting Initiative](https://www.globalreporting.org/) - [UN Global Compact](https://unglobalcompact.org/) - [ISO 26000](https://www.iso.org/iso-26000-social-responsibility.html) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The assessment recognised a 68/100 score and Advanced status in Environment, Labour and Human Rights, and Ethics.\n\nWe\u2019re very pleased to share that Recordsure has once again received a Silver Medal from environmental, social, and governance (ESG) assessment experts EcoVadis for our ongoing commitment to sustainable business practices.\n\nAccording to EcoVadis\u2019 Sustainability Scorecard \u2013 which maps firms\u2019 performance and progress via 21 separate indicators \u2013 Recordsure obtained a total score of 68/100 for our efforts over the past 12 months, placing us within the top 10% of companies within our category.\n\nAs a business that\u2019s passionate about making a positive impact towards global climate and social challenges, we\u2019re particularly delighted to have our efforts recognised with Advanced attainment status in three distinct areas: Environment, Labor & Human Rights, and Ethics.\n\nRecordsure\u2019s Sustainability Lead, Chris Matthews, said:\n\nBeing awarded a Silver Medal from EcoVadis for the third year running is a true testament to the progressive and inclusive vision that\u2019s shared by the whole Recordsure team.\n\nWe\u2019re proud that our clients and partners can trust our commitment to working to the highest legislative and ethical standards \u2013 and that we\u2019ll always go over and beyond to important causes to actively put positive change at the focus of everything we do. Chris Matthews, Sustainability Lead, Recordsure\n\nEcoVadis was originally founded in 2007 and is now considered one of the world\u2019s most trusted business sustainability rankings, operating across more than 200 diverse industries with a presence in over 175 countries.\n\nOverseen by a specialist panel of supply chain and green business experts, the EcoVadis assessment process is tailored to the firm\u2019s country, industry and company size to ensure maximum accuracy and attention to detail.\n\nEach evaluation is carried out in close accordance with the latest international sustainability standards, including the Global Reporting Initiative, UN Global Compact and ISO 26000.\n\nWe\u2019d like to take this opportunity to congratulate all our Recordsure colleagues for their hard work in driving our continued positive transformation over the past year \u2013 as well as thank EcoVadis for their continued support and encouragement as we look to make 2024 our most impactful year yet!", "wordCount": 367, "hasPart": [ { "@id": "https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/#analysis-1" } ], "about": [ { "@type": "Thing", "name": "EcoVadis sustainability" } ], "citation": [ { "@type": "CreativeWork", "name": "EcoVadis", "url": "https://ecovadis.com/" }, { "@type": "CreativeWork", "name": "Global Reporting Initiative", "url": "https://www.globalreporting.org/" }, { "@type": "CreativeWork", "name": "UN Global Compact", "url": "https://unglobalcompact.org/" }, { "@type": "CreativeWork", "name": "ISO 26000", "url": "https://www.iso.org/iso-26000-social-responsibility.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/#webpage" }, "inLanguage": "en-GB", "text": "We\u2019re very pleased to share that Recordsure has once again received a Silver Medal from environmental, social, and governance (ESG) assessment experts EcoVadis for our ongoing commitment to sustainable business practices.\n\nAccording to EcoVadis\u2019 Sustainability Scorecard \u2013 which maps firms\u2019 performance and progress via 21 separate indicators \u2013 Recordsure obtained a total score of 68/100 for our efforts over the past 12 months, placing us within the top 10% of companies within our category.\n\nAs a business that\u2019s passionate about making a positive impact towards global climate and social challenges, we\u2019re particularly delighted to have our efforts recognised with Advanced attainment status in three distinct areas: Environment, Labor & Human Rights, and Ethics.\n\nRecordsure\u2019s Sustainability Lead, Chris Matthews, said:\n\nBeing awarded a Silver Medal from EcoVadis for the third year running is a true testament to the progressive and inclusive vision that\u2019s shared by the whole Recordsure team.\n\nWe\u2019re proud that our clients and partners can trust our commitment to working to the highest legislative and ethical standards \u2013 and that we\u2019ll always go over and beyond to important causes to actively put positive change at the focus of everything we do. Chris Matthews, Sustainability Lead, Recordsure\n\nEcoVadis was originally founded in 2007 and is now considered one of the world\u2019s most trusted business sustainability rankings, operating across more than 200 diverse industries with a presence in over 175 countries.\n\nOverseen by a specialist panel of supply chain and green business experts, the EcoVadis assessment process is tailored to the firm\u2019s country, industry and company size to ensure maximum accuracy and attention to detail.\n\nEach evaluation is carried out in close accordance with the latest international sustainability standards, including the Global Reporting Initiative, UN Global Compact and ISO 26000.\n\nWe\u2019d like to take this opportunity to congratulate all our Recordsure colleagues for their hard work in driving our continued positive transformation over the past year \u2013 as well as thank EcoVadis for their continued support and encouragement as we look to make 2024 our most impactful year yet!" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/silver-ecovadis-medal-sustainability-2023/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What EcoVadis recognition did Recordsure receive?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure received a Silver Medal from EcoVadis for the third consecutive year." } }, { "@type": "Question", "name": "What score did Recordsure receive?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure received 68/100 for its efforts over the past 12 months." } }, { "@type": "Question", "name": "Where did the score place Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "The score placed Recordsure within the top 10% of companies in its category." } }, { "@type": "Question", "name": "Which areas achieved Advanced status?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure achieved Advanced status in Environment, Labour and Human Rights, and Ethics." } } ] } ] } ``` ### Bohemian Accuracy - URL: https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/ - Published: 2023-12-07 - Modified: 2023-12-07 **Topic:** Generative AI 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 in Gen-AI to improve the user experience. #### Key points - Gen-AI search over enterprise data usually sees only a small, search-selected subset of it, so answers depend heavily on the words in your question. - Semantic similarity can mislead: in 200-word context blocks, ISA and Capital Gains Tax Allowance passages scored within 0.1% of each other. - GPTs generate likely words rather than answers, so they cannot measure their own confidence, and their outputs are inconsistent, partly by design. - Longer, more carefully engineered prompts leave fewer tokens for the grounding data the model can consider. - Recordsure relies on traditional machine learning to find the right information and blends in Gen-AI to improve the user experience. In his last article, [War of the Words](/insights/analysis-and-perspective/war-of-the-words/), Recordsure’s CTO Kit Ruparel explored the battleground between the makers of Large Language Models (LLMs) and the capabilities of GPTs to accept and generate human language. Much has evolved in the intervening five months. The most significant development is that some of these LLMs have been promoted by the major cloud vendors into their accessible and dependable operating infrastructures, opening the floodgates for secure enterprise use. *In his latest article, Kit explores the strengths and weaknesses of Gen-AI – in comparison to more traditional machine learning solutions – for reliably finding and presenting information from internal documents and other written or transcribed data sources.* **The linguistic artistry of Generative AI is not suitable for applications that demand certainty, as current state-of-the-art techniques for integrating Generative AI with enterprise data sources leave plenty of room for interpretive error.** *“Is this the real truth? Is this just fantasy?* *Facts should be verified – no escape from ChatGPT.* *Open your eyes, look to A.I. with veracity…”* Generative Pre-trained Transformers (GPTs) have a place in the enterprise AI ensemble – just don’t let them sing solo. #### I believe in syllables In the beginning, computers taught us to trust them. Our spreadsheets always summed our columns of data correctly; our secure messaging systems ensured that what was received was always the same as what was sent; and our GPS always got us to our destination (well, nearly always). Then came the Web with its Internet search tools – and our trust relationship had to change. Suddenly came the need for a ‘human in the loop’. We could no longer assume that the top-ranked ‘answer’ to our research question was correct. We found ourselves rephrasing our query multiple ways and reading through numerous result links in order to aggregate a consensus answer from the various sources that we deemed authoritative, based on our own education and biases. Chat-based Gen-AI, however, tempts us to regress – to believe in the accuracy of the words it responds with, given the words that we supplied. In the [War of the Words post](/insights/analysis-and-perspective/war-of-the-words/), I presented a key reason for this: that for the first time we are using human language to interact with our information sources – and in doing so we assign trust to the suddenly human persona of these systems. It’s not our fault. It’s human nature. Additionally, the impression these systems give – that they are doing *all* of the research for us, aggregating an answer from *all* of the information sources available, rather than us having to rephrase our search multiple times and crawl through innumerable potential links – makes us further believe that those answers are authoritative. We shouldn’t… and I shall endeavour to explain why. #### It started with a miss The first record to set straight is any belief that when you use Gen-AI to search your enterprise documents or data sets, it’s considering *all* of your data when generating an answer. Unless you’ve retrained the GPT on *all* of your data, it simply isn’t. Instead, you (or your engineers) will be using Retrieval Augmented Generation (RAG) or similar techniques to pass a tiny subset of your data into the Gen-AI for consideration, for each query made. Where does this subset come from? Well: *search* is the answer, usually – and, more specifically, something called ‘vector search’. Effectively, the first step in the chain is that the system will be doing the same as you would if you were doing an Internet search – or, in this enterprise use case, an Intranet search. **Note for technical readers:** this article assumes the common method of using RAG techniques over enterprise document chunks stored in a vector database, although it’s also pertinent to the emerging X-of-Thought methods that all, at their heart, use vector-embeddings similarity searches to supply grounding context to the Generative LLM. I’ve used Microsoft Azure’s OpenAI GPT LLMs and vector embeddings on text block lengths of between 150 and 2,000 words for the experiments that led to this article. Further research suggests that my findings would be similar for any of the other language-focused GPT models available. The system is taking your question, performing a search to find snippets of your documents that have ‘semantic similarity’ (jargon for ‘similar meaning’) and then passing the first page of snippets of search results (not the whole of the documents found, just the search result snippets) into the Gen-AI LLM – and is effectively saying “just base your answer on these result snippets.” That’s a very hit-and-miss approach to educating an AI on the facts it’s allowed to use in answering your question. You inherently know this from the number of times you have to rephrase your Internet search query until you eventually find the results you believe are most relevant. The answer to the question “Which is the best song by the band Hot Chocolate?” is subjective, but whether or not you believe the answer is ‘It Started with a Kiss’ or ‘You Sexy Thing’, none of the words in those alternative answers are in the question – so the vector search will only find candidate answers to your question if your documents have similar words matching your question in close proximity to all of the candidate answers. Therefore, the Gen-AI is only going to stand a chance of getting the correct answer if: 1. All of the candidate information it needs to consider is in close proximity in your documents to words that are similar to your question. 2. All of the information that needs to be considered can be returned in the first ‘page’ of search result snippets that your question matches against. Professor Noah Giansiracusa eloquently covered [AI bias in his recent article](/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/), and this is effectively what we’re considering here – a biased answer is given because the Gen-AI is ‘trained’ (in real time, so OK, ‘grounded’) with a small sample of information, skewed somewhat randomly to *the words in your question* – but it’s not trained upon a set of correct-versus-incorrect *answers*. The technical reason for all of the above is that each Gen-AI LLM has a constraint on the amount of information it can work with per query. And while these ‘token limit’ constraints are getting higher by the month as new models are released, whilst we’re limited to techniques such as RAG we’re simply not going to be in a position whereby the Gen-AI can consider *all* of the information available to it in a typical enterprise scenario. #### You say potato, I say tomato. Let’s call the whole thing off Another challenge for Gen-AI applications, perhaps surprisingly, is how ***good*** vector embeddings and LLMs now are at performing semantic similarity matches. Researching this article, some of the experiments I tried involved trying to get factual answers from documents and conversations around an individual’s current tax position. Using OpenAI (securely, via Azure’s Cognitive Services implementation), I found that when used in discrete statements, phrases with the terms ‘Individual Savings Account’ and its abbreviation ‘ISA’ had about a 90% semantic similarity in their embedding model to sentences with the words ‘Capital Gains Tax Allowance’. This is hardly surprising, given that they’re both recommended UK methods for reducing your tax position. However, when these discrete terms were included with other surrounding words in the source documents, in context block sizes of 200 words, the surrounding words significantly diluted the uniqueness of those shorter discrete phrases, now often providing similarity scores within 0.1% of each other, given the query made. Therefore, asking a question such as “Has the customer used their Capital Gains Tax Allowance for the last year?” stood absolutely no chance of getting the correct answer if the customer had used their ISA allowance. #### I just want to make words for you Let’s jump forward in the process now to your Gen-AI actually formulating an answer. If I ask you a question, your brain’s cognition interprets my words conceptually, then draws on its undoubtedly vast sum of knowledge and experience to conceptualise an answer. Finally, you turn that conceptual answer into words, to convey back to me. That’s not how LLMs work. They have no method of cognition, nor any concept of a concept, nor any concept of an ‘answer’ – at least in the way that you or I understand it. I’m trivialising their methods somewhat in the following statement; however, they are *essentially going straight to words*. Given your question, they decide what the best first word to present back to you is. Then they decide what the next most logical word should be in the sequence and give you that. Then the third word, and so forth… Because GPTs are not actually providing an ‘answer’, merely a sequence of likely words, they have no way of measuring their own confidence in the accuracy of the answer they give you. If you’ve worked with machine learning at all, you’ll know that neural network ‘confidence’ is absolutely the key to determining the ‘threshold’ – the level of trust – you’re going to put in an AI model. Data scientists will thoroughly test a model and, based on the business needs, will prescribe a confidence threshold, essentially saying: “We will only trust the output of the AI if it is accompanied by a confidence score of 92.36% or above.” You can’t do that with Gen-AI, as there is no ‘answer’, there is no ‘confidence’ and there is therefore nothing to test against in order to set a routine threshold for the accuracy of the outputs. #### Whatever will be, won’t be Another major problem with most Gen-AI LLMs is their inconsistency. Traditional machine learning models are *deterministic* – that is, if you give them the same inputs, they will give you the same outputs. If you’ve experimented with the freely available online chat products, you’ll have experienced the opposite. Ask the same question twice and you will get a different answer each time. There are two known reasons for this. The first is technical, and down to the structure of the LLMs. It is widely believed, although not confirmed by OpenAI, that their latest GPT models use ‘Sparse Mixture of Experts (MoE)’ techniques. In plainer English, this means that they’re not one big model but actually a composite of smaller models that compete to give the ‘best’ answer, each having been given only a subset of the input data. Due to the parallel and competing manner in which that works, sometimes one of the mini-models wins. Sometimes another wins. The second reason for inconsistency is that it is deliberate. Please remember that these generative models have been designed to be *creative*. Whether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety, their eccentric (bohemian, if you will) artistry, the many-sidedness to their nature. After all, we can’t have every student turning in the same essay, can we? > Whether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety. However, what’s good for creativity is bad for determinism. Solutions looking to establish facts, robustly and consistently, using the current breed of Gen-AI will fail. #### It ain’t what you say, it’s the way that you say it For completeness I have to mention ‘Prompt Engineering’ – although I won’t go into any detail, given it’s probably the most widely written-about topic when it comes to Gen-AI. Suffice to say, in the same way that you get out what you put in with your standard Internet search query, this is even more so when it comes to Gen-AI queries and prompts. To get good results from Gen-AI, behind the scenes you end up with some *very* long prompts, often running into many hundreds of words. Again, that is easily understood if you search ‘prompt engineering’ in your favourite Internet trawler, but what is less widely written about for enterprise uses is that the longer your prompt, the fewer words (~tokens) you then have available to feed the Gen-AI your grounding context, i.e. your input data. Therefore, the more accurate you try to make your answer, the less data you can give your Gen-AI to consider! #### You ain’t seen nothin’ yet Above, I’ve demonstrated that Gen-AI is non-deterministic (inconsistent), biased (discriminative), incapable of measuring the quality of its responses and generally not suited to any task where you have one chance to get a factually correct (authoritative) result from unseen enterprise data, documents or transcripts. Does that mean it doesn’t have a role in the enterprise AI stack? Of course not – it *mostly* means that it must be constrained to the ‘human in the loop’ use cases for which it was intended: query/chat-based research and generative creativity. Why ‘*mostly*’? …Gen-AI’s ability with natural human language does make a convenient and pleasant computer-to-human user interface – either way around. And this is the area where Recordsure is making the most of GPTs in our product suite: Conversation Intelligence and Document Intelligence. But do we trust Gen-AI with our core product tasks of ‘finding the right stuff’? For all the reasons described above: **no, we don’t.** It’s not what the current cohort of Gen-AI is designed for and it simply cannot be made to work reliably. Our clients require proven accuracy and demonstrable consistency, whilst our expertise with ‘traditional’ AI remains the method to continue to deliver that; and no company working on [Responsible AI](/responsible-ai/) should tell you otherwise. However, now that Gen-AI is secure, safe and affordable for use by enterprises (thanks largely to the major cloud vendors), Recordsure is blending traditional machine learning and Gen-AI to improve the user experience, as Gen-AI has a good ability to ‘understand’ and generate human language. We’d be foolish not to – but rather than as a solo artist, GPTs will likely remain a harmony singer in our AI troupe for a little while yet. And fingers crossed, with the rate of industry evolution at present, it may not be too long until the mega-AI companies crack the three big generative issues: determinism, discrimination and authority. *Images courtesy of Generative AI. Words wholly not so – although it would probably have done a better job at song title puns than this author.* > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Bohemian Accuracy", "item": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/", "name": "Bohemian Accuracy", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-12-07T13:13:42+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Bohemian Accuracy", "datePublished": "2023-12-07T13:13:42+00:00", "dateModified": "2023-12-07T13:13:42+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/05ccec15511445e4ae252a47553dc48e/thumbnail-1024-a02f943362ce26ee5789b923be62f7645702d2fb47f4c2077c64808f5d63d670.jpg", "description": "Why Generative AI is not yet fit for applications that demand certainty: Recordsure\u2019s CTO Kit Ruparel compares Gen-AI with traditional machine learning for reliably finding facts in enterprise documents and transcripts.", "inLanguage": "en-GB", "articleBody": "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 in Gen-AI to improve the user experience.\n\nIn his last article, War of the Words, Recordsure\u2019s CTO Kit Ruparel explored the battleground between the makers of Large Language Models (LLMs) and the capabilities of GPTs to accept and generate human language.\n\nMuch has evolved in the intervening five months. The most significant development is that some of these LLMs have been promoted by the major cloud vendors into their accessible and dependable operating infrastructures, opening the floodgates for secure enterprise use.\n\nIn his latest article, Kit explores the strengths and weaknesses of Gen-AI \u2013 in comparison to more traditional machine learning solutions \u2013 for reliably finding and presenting information from internal documents and other written or transcribed data sources.\n\nThe linguistic artistry of Generative AI is not suitable for applications that demand certainty, as current state-of-the-art techniques for integrating Generative AI with enterprise data sources leave plenty of room for interpretive error.\n\n\u201cIs this the real truth? Is this just fantasy?\n\nFacts should be verified \u2013 no escape from ChatGPT.\n\nOpen your eyes, look to A.I. with veracity\u2026\u201d\n\nGenerative Pre-trained Transformers (GPTs) have a place in the enterprise AI ensemble \u2013 just don\u2019t let them sing solo.\n\nI believe in syllables\n\nIn the beginning, computers taught us to trust them.\n\nOur spreadsheets always summed our columns of data correctly; our secure messaging systems ensured that what was received was always the same as what was sent; and our GPS always got us to our destination (well, nearly always).\n\nThen came the Web with its Internet search tools \u2013 and our trust relationship had to change. Suddenly came the need for a \u2018human in the loop\u2019.\n\nWe could no longer assume that the top-ranked \u2018answer\u2019 to our research question was correct. We found ourselves rephrasing our query multiple ways and reading through numerous result links in order to aggregate a consensus answer from the various sources that we deemed authoritative, based on our own education and biases.\n\nChat-based Gen-AI, however, tempts us to regress \u2013 to believe in the accuracy of the words it responds with, given the words that we supplied. In the War of the Words post, I presented a key reason for this: that for the first time we are using human language to interact with our information sources \u2013 and in doing so we assign trust to the suddenly human persona of these systems. It\u2019s not our fault. It\u2019s human nature.\n\nAdditionally, the impression these systems give \u2013 that they are doing all of the research for us, aggregating an answer from all of the information sources available, rather than us having to rephrase our search multiple times and crawl through innumerable potential links \u2013 makes us further believe that those answers are authoritative.\n\nWe shouldn\u2019t\u2026 and I shall endeavour to explain why.\n\nIt started with a miss\n\nThe first record to set straight is any belief that when you use Gen-AI to search your enterprise documents or data sets, it\u2019s considering all of your data when generating an answer.\n\nUnless you\u2019ve retrained the GPT on all of your data, it simply isn\u2019t.\n\nInstead, you (or your engineers) will be using Retrieval Augmented Generation (RAG) or similar techniques to pass a tiny subset of your data into the Gen-AI for consideration, for each query made.\n\nWhere does this subset come from? Well: search is the answer, usually \u2013 and, more specifically, something called \u2018vector search\u2019.\n\nEffectively, the first step in the chain is that the system will be doing the same as you would if you were doing an Internet search \u2013 or, in this enterprise use case, an Intranet search.\n\nNote for technical readers: this article assumes the common method of using RAG techniques over enterprise document chunks stored in a vector database, although it\u2019s also pertinent to the emerging X-of-Thought methods that all, at their heart, use vector-embeddings similarity searches to supply grounding context to the Generative LLM.\n\nI\u2019ve used Microsoft Azure\u2019s OpenAI GPT LLMs and vector embeddings on text block lengths of between 150 and 2,000 words for the experiments that led to this article. Further research suggests that my findings would be similar for any of the other language-focused GPT models available.\n\nThe system is taking your question, performing a search to find snippets of your documents that have \u2018semantic similarity\u2019 (jargon for \u2018similar meaning\u2019) and then passing the first page of snippets of search results (not the whole of the documents found, just the search result snippets) into the Gen-AI LLM \u2013 and is effectively saying \u201cjust base your answer on these result snippets.\u201d\n\nThat\u2019s a very hit-and-miss approach to educating an AI on the facts it\u2019s allowed to use in answering your question.\n\nYou inherently know this from the number of times you have to rephrase your Internet search query until you eventually find the results you believe are most relevant.\n\nThe answer to the question \u201cWhich is the best song by the band Hot Chocolate?\u201d is subjective, but whether or not you believe the answer is \u2018It Started with a Kiss\u2019 or \u2018You Sexy Thing\u2019, none of the words in those alternative answers are in the question \u2013 so the vector search will only find candidate answers to your question if your documents have similar words matching your question in close proximity to all of the candidate answers.\n\nTherefore, the Gen-AI is only going to stand a chance of getting the correct answer if:\n\n1. All of the candidate information it needs to consider is in close proximity in your documents to words that are similar to your question.\n2. All of the information that needs to be considered can be returned in the first \u2018page\u2019 of search result snippets that your question matches against.\n\nProfessor Noah Giansiracusa eloquently covered AI bias in his recent article, and this is effectively what we\u2019re considering here \u2013 a biased answer is given because the Gen-AI is \u2018trained\u2019 (in real time, so OK, \u2018grounded\u2019) with a small sample of information, skewed somewhat randomly to the words in your question \u2013 but it\u2019s not trained upon a set of correct-versus-incorrect answers.\n\nThe technical reason for all of the above is that each Gen-AI LLM has a constraint on the amount of information it can work with per query. And while these \u2018token limit\u2019 constraints are getting higher by the month as new models are released, whilst we\u2019re limited to techniques such as RAG we\u2019re simply not going to be in a position whereby the Gen-AI can consider all of the information available to it in a typical enterprise scenario.\n\nYou say potato, I say tomato. Let\u2019s call the whole thing off\n\nAnother challenge for Gen-AI applications, perhaps surprisingly, is how good vector embeddings and LLMs now are at performing semantic similarity matches.\n\nResearching this article, some of the experiments I tried involved trying to get factual answers from documents and conversations around an individual\u2019s current tax position.\n\nUsing OpenAI (securely, via Azure\u2019s Cognitive Services implementation), I found that when used in discrete statements, phrases with the terms \u2018Individual Savings Account\u2019 and its abbreviation \u2018ISA\u2019 had about a 90% semantic similarity in their embedding model to sentences with the words \u2018Capital Gains Tax Allowance\u2019.\n\nThis is hardly surprising, given that they\u2019re both recommended UK methods for reducing your tax position.\n\nHowever, when these discrete terms were included with other surrounding words in the source documents, in context block sizes of 200 words, the surrounding words significantly diluted the uniqueness of those shorter discrete phrases, now often providing similarity scores within 0.1% of each other, given the query made.\n\nTherefore, asking a question such as \u201cHas the customer used their Capital Gains Tax Allowance for the last year?\u201d stood absolutely no chance of getting the correct answer if the customer had used their ISA allowance.\n\nI just want to make words for you\n\nLet\u2019s jump forward in the process now to your Gen-AI actually formulating an answer.\n\nIf I ask you a question, your brain\u2019s cognition interprets my words conceptually, then draws on its undoubtedly vast sum of knowledge and experience to conceptualise an answer. Finally, you turn that conceptual answer into words, to convey back to me.\n\nThat\u2019s not how LLMs work. They have no method of cognition, nor any concept of a concept, nor any concept of an \u2018answer\u2019 \u2013 at least in the way that you or I understand it.\n\nI\u2019m trivialising their methods somewhat in the following statement; however, they are essentially going straight to words. Given your question, they decide what the best first word to present back to you is. Then they decide what the next most logical word should be in the sequence and give you that. Then the third word, and so forth\u2026\n\nBecause GPTs are not actually providing an \u2018answer\u2019, merely a sequence of likely words, they have no way of measuring their own confidence in the accuracy of the answer they give you.\n\nIf you\u2019ve worked with machine learning at all, you\u2019ll know that neural network \u2018confidence\u2019 is absolutely the key to determining the \u2018threshold\u2019 \u2013 the level of trust \u2013 you\u2019re going to put in an AI model.\n\nData scientists will thoroughly test a model and, based on the business needs, will prescribe a confidence threshold, essentially saying: \u201cWe will only trust the output of the AI if it is accompanied by a confidence score of 92.36% or above.\u201d\n\nYou can\u2019t do that with Gen-AI, as there is no \u2018answer\u2019, there is no \u2018confidence\u2019 and there is therefore nothing to test against in order to set a routine threshold for the accuracy of the outputs.\n\nWhatever will be, won\u2019t be\n\nAnother major problem with most Gen-AI LLMs is their inconsistency.\n\nTraditional machine learning models are deterministic \u2013 that is, if you give them the same inputs, they will give you the same outputs.\n\nIf you\u2019ve experimented with the freely available online chat products, you\u2019ll have experienced the opposite. Ask the same question twice and you will get a different answer each time.\n\nThere are two known reasons for this.\n\nThe first is technical, and down to the structure of the LLMs. It is widely believed, although not confirmed by OpenAI, that their latest GPT models use \u2018Sparse Mixture of Experts (MoE)\u2019 techniques.\n\nIn plainer English, this means that they\u2019re not one big model but actually a composite of smaller models that compete to give the \u2018best\u2019 answer, each having been given only a subset of the input data. Due to the parallel and competing manner in which that works, sometimes one of the mini-models wins. Sometimes another wins.\n\nThe second reason for inconsistency is that it is deliberate. Please remember that these generative models have been designed to be creative. Whether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety, their eccentric (bohemian, if you will) artistry, the many-sidedness to their nature. After all, we can\u2019t have every student turning in the same essay, can we?\n\nWhether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety.\n\nHowever, what\u2019s good for creativity is bad for determinism. Solutions looking to establish facts, robustly and consistently, using the current breed of Gen-AI will fail.\n\nIt ain\u2019t what you say, it\u2019s the way that you say it\n\nFor completeness I have to mention \u2018Prompt Engineering\u2019 \u2013 although I won\u2019t go into any detail, given it\u2019s probably the most widely written-about topic when it comes to Gen-AI.\n\nSuffice to say, in the same way that you get out what you put in with your standard Internet search query, this is even more so when it comes to Gen-AI queries and prompts.\n\nTo get good results from Gen-AI, behind the scenes you end up with some very long prompts, often running into many hundreds of words. Again, that is easily understood if you search \u2018prompt engineering\u2019 in your favourite Internet trawler, but what is less widely written about for enterprise uses is that the longer your prompt, the fewer words (~tokens) you then have available to feed the Gen-AI your grounding context, i.e. your input data.\n\nTherefore, the more accurate you try to make your answer, the less data you can give your Gen-AI to consider!\n\nYou ain\u2019t seen nothin\u2019 yet\n\nAbove, I\u2019ve demonstrated that Gen-AI is non-deterministic (inconsistent), biased (discriminative), incapable of measuring the quality of its responses and generally not suited to any task where you have one chance to get a factually correct (authoritative) result from unseen enterprise data, documents or transcripts.\n\nDoes that mean it doesn\u2019t have a role in the enterprise AI stack? Of course not \u2013 it mostly means that it must be constrained to the \u2018human in the loop\u2019 use cases for which it was intended: query/chat-based research and generative creativity.\n\nWhy \u2018mostly\u2019? \u2026Gen-AI\u2019s ability with natural human language does make a convenient and pleasant computer-to-human user interface \u2013 either way around.\n\nAnd this is the area where Recordsure is making the most of GPTs in our product suite: Conversation Intelligence and Document Intelligence.\n\nBut do we trust Gen-AI with our core product tasks of \u2018finding the right stuff\u2019? For all the reasons described above: no, we don\u2019t. It\u2019s not what the current cohort of Gen-AI is designed for and it simply cannot be made to work reliably.\n\nOur clients require proven accuracy and demonstrable consistency, whilst our expertise with \u2018traditional\u2019 AI remains the method to continue to deliver that; and no company working on Responsible AI should tell you otherwise.\n\nHowever, now that Gen-AI is secure, safe and affordable for use by enterprises (thanks largely to the major cloud vendors), Recordsure is blending traditional machine learning and Gen-AI to improve the user experience, as Gen-AI has a good ability to \u2018understand\u2019 and generate human language.\n\nWe\u2019d be foolish not to \u2013 but rather than as a solo artist, GPTs will likely remain a harmony singer in our AI troupe for a little while yet.\n\nAnd fingers crossed, with the rate of industry evolution at present, it may not be too long until the mega-AI companies crack the three big generative issues: determinism, discrimination and authority.\n\nImages courtesy of Generative AI. Words wholly not so \u2013 although it would probably have done a better job at song title puns than this author.", "wordCount": 2444, "keywords": [ "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Generative AI accuracy" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-8" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "text": "In his last article, War of the Words, Recordsure\u2019s CTO Kit Ruparel explored the battleground between the makers of Large Language Models (LLMs) and the capabilities of GPTs to accept and generate human language.\n\nMuch has evolved in the intervening five months. The most significant development is that some of these LLMs have been promoted by the major cloud vendors into their accessible and dependable operating infrastructures, opening the floodgates for secure enterprise use.\n\nIn his latest article, Kit explores the strengths and weaknesses of Gen-AI \u2013 in comparison to more traditional machine learning solutions \u2013 for reliably finding and presenting information from internal documents and other written or transcribed data sources.\n\nThe linguistic artistry of Generative AI is not suitable for applications that demand certainty, as current state-of-the-art techniques for integrating Generative AI with enterprise data sources leave plenty of room for interpretive error.\n\n\u201cIs this the real truth? Is this just fantasy?\n\nFacts should be verified \u2013 no escape from ChatGPT.\n\nOpen your eyes, look to A.I. with veracity\u2026\u201d\n\nGenerative Pre-trained Transformers (GPTs) have a place in the enterprise AI ensemble \u2013 just don\u2019t let them sing solo." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "I believe in syllables", "text": "In the beginning, computers taught us to trust them.\n\nOur spreadsheets always summed our columns of data correctly; our secure messaging systems ensured that what was received was always the same as what was sent; and our GPS always got us to our destination (well, nearly always).\n\nThen came the Web with its Internet search tools \u2013 and our trust relationship had to change. Suddenly came the need for a \u2018human in the loop\u2019.\n\nWe could no longer assume that the top-ranked \u2018answer\u2019 to our research question was correct. We found ourselves rephrasing our query multiple ways and reading through numerous result links in order to aggregate a consensus answer from the various sources that we deemed authoritative, based on our own education and biases.\n\nChat-based Gen-AI, however, tempts us to regress \u2013 to believe in the accuracy of the words it responds with, given the words that we supplied. In the War of the Words post, I presented a key reason for this: that for the first time we are using human language to interact with our information sources \u2013 and in doing so we assign trust to the suddenly human persona of these systems. It\u2019s not our fault. It\u2019s human nature.\n\nAdditionally, the impression these systems give \u2013 that they are doing all of the research for us, aggregating an answer from all of the information sources available, rather than us having to rephrase our search multiple times and crawl through innumerable potential links \u2013 makes us further believe that those answers are authoritative.\n\nWe shouldn\u2019t\u2026 and I shall endeavour to explain why." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "It started with a miss", "text": "The first record to set straight is any belief that when you use Gen-AI to search your enterprise documents or data sets, it\u2019s considering all of your data when generating an answer.\n\nUnless you\u2019ve retrained the GPT on all of your data, it simply isn\u2019t.\n\nInstead, you (or your engineers) will be using Retrieval Augmented Generation (RAG) or similar techniques to pass a tiny subset of your data into the Gen-AI for consideration, for each query made.\n\nWhere does this subset come from? Well: search is the answer, usually \u2013 and, more specifically, something called \u2018vector search\u2019.\n\nEffectively, the first step in the chain is that the system will be doing the same as you would if you were doing an Internet search \u2013 or, in this enterprise use case, an Intranet search.\n\nNote for technical readers: this article assumes the common method of using RAG techniques over enterprise document chunks stored in a vector database, although it\u2019s also pertinent to the emerging X-of-Thought methods that all, at their heart, use vector-embeddings similarity searches to supply grounding context to the Generative LLM.\n\nI\u2019ve used Microsoft Azure\u2019s OpenAI GPT LLMs and vector embeddings on text block lengths of between 150 and 2,000 words for the experiments that led to this article. Further research suggests that my findings would be similar for any of the other language-focused GPT models available.\n\nThe system is taking your question, performing a search to find snippets of your documents that have \u2018semantic similarity\u2019 (jargon for \u2018similar meaning\u2019) and then passing the first page of snippets of search results (not the whole of the documents found, just the search result snippets) into the Gen-AI LLM \u2013 and is effectively saying \u201cjust base your answer on these result snippets.\u201d\n\nThat\u2019s a very hit-and-miss approach to educating an AI on the facts it\u2019s allowed to use in answering your question.\n\nYou inherently know this from the number of times you have to rephrase your Internet search query until you eventually find the results you believe are most relevant.\n\nThe answer to the question \u201cWhich is the best song by the band Hot Chocolate?\u201d is subjective, but whether or not you believe the answer is \u2018It Started with a Kiss\u2019 or \u2018You Sexy Thing\u2019, none of the words in those alternative answers are in the question \u2013 so the vector search will only find candidate answers to your question if your documents have similar words matching your question in close proximity to all of the candidate answers.\n\nTherefore, the Gen-AI is only going to stand a chance of getting the correct answer if:\n\n1. All of the candidate information it needs to consider is in close proximity in your documents to words that are similar to your question.\n2. All of the information that needs to be considered can be returned in the first \u2018page\u2019 of search result snippets that your question matches against.\n\nProfessor Noah Giansiracusa eloquently covered AI bias in his recent article, and this is effectively what we\u2019re considering here \u2013 a biased answer is given because the Gen-AI is \u2018trained\u2019 (in real time, so OK, \u2018grounded\u2019) with a small sample of information, skewed somewhat randomly to the words in your question \u2013 but it\u2019s not trained upon a set of correct-versus-incorrect answers.\n\nThe technical reason for all of the above is that each Gen-AI LLM has a constraint on the amount of information it can work with per query. And while these \u2018token limit\u2019 constraints are getting higher by the month as new models are released, whilst we\u2019re limited to techniques such as RAG we\u2019re simply not going to be in a position whereby the Gen-AI can consider all of the information available to it in a typical enterprise scenario." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "You say potato, I say tomato. Let\u2019s call the whole thing off", "text": "Another challenge for Gen-AI applications, perhaps surprisingly, is how good vector embeddings and LLMs now are at performing semantic similarity matches.\n\nResearching this article, some of the experiments I tried involved trying to get factual answers from documents and conversations around an individual\u2019s current tax position.\n\nUsing OpenAI (securely, via Azure\u2019s Cognitive Services implementation), I found that when used in discrete statements, phrases with the terms \u2018Individual Savings Account\u2019 and its abbreviation \u2018ISA\u2019 had about a 90% semantic similarity in their embedding model to sentences with the words \u2018Capital Gains Tax Allowance\u2019.\n\nThis is hardly surprising, given that they\u2019re both recommended UK methods for reducing your tax position.\n\nHowever, when these discrete terms were included with other surrounding words in the source documents, in context block sizes of 200 words, the surrounding words significantly diluted the uniqueness of those shorter discrete phrases, now often providing similarity scores within 0.1% of each other, given the query made.\n\nTherefore, asking a question such as \u201cHas the customer used their Capital Gains Tax Allowance for the last year?\u201d stood absolutely no chance of getting the correct answer if the customer had used their ISA allowance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "I just want to make words for you", "text": "Let\u2019s jump forward in the process now to your Gen-AI actually formulating an answer.\n\nIf I ask you a question, your brain\u2019s cognition interprets my words conceptually, then draws on its undoubtedly vast sum of knowledge and experience to conceptualise an answer. Finally, you turn that conceptual answer into words, to convey back to me.\n\nThat\u2019s not how LLMs work. They have no method of cognition, nor any concept of a concept, nor any concept of an \u2018answer\u2019 \u2013 at least in the way that you or I understand it.\n\nI\u2019m trivialising their methods somewhat in the following statement; however, they are essentially going straight to words. Given your question, they decide what the best first word to present back to you is. Then they decide what the next most logical word should be in the sequence and give you that. Then the third word, and so forth\u2026\n\nBecause GPTs are not actually providing an \u2018answer\u2019, merely a sequence of likely words, they have no way of measuring their own confidence in the accuracy of the answer they give you.\n\nIf you\u2019ve worked with machine learning at all, you\u2019ll know that neural network \u2018confidence\u2019 is absolutely the key to determining the \u2018threshold\u2019 \u2013 the level of trust \u2013 you\u2019re going to put in an AI model.\n\nData scientists will thoroughly test a model and, based on the business needs, will prescribe a confidence threshold, essentially saying: \u201cWe will only trust the output of the AI if it is accompanied by a confidence score of 92.36% or above.\u201d\n\nYou can\u2019t do that with Gen-AI, as there is no \u2018answer\u2019, there is no \u2018confidence\u2019 and there is therefore nothing to test against in order to set a routine threshold for the accuracy of the outputs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "Whatever will be, won\u2019t be", "text": "Another major problem with most Gen-AI LLMs is their inconsistency.\n\nTraditional machine learning models are deterministic \u2013 that is, if you give them the same inputs, they will give you the same outputs.\n\nIf you\u2019ve experimented with the freely available online chat products, you\u2019ll have experienced the opposite. Ask the same question twice and you will get a different answer each time.\n\nThere are two known reasons for this.\n\nThe first is technical, and down to the structure of the LLMs. It is widely believed, although not confirmed by OpenAI, that their latest GPT models use \u2018Sparse Mixture of Experts (MoE)\u2019 techniques.\n\nIn plainer English, this means that they\u2019re not one big model but actually a composite of smaller models that compete to give the \u2018best\u2019 answer, each having been given only a subset of the input data. Due to the parallel and competing manner in which that works, sometimes one of the mini-models wins. Sometimes another wins.\n\nThe second reason for inconsistency is that it is deliberate. Please remember that these generative models have been designed to be creative. Whether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety, their eccentric (bohemian, if you will) artistry, the many-sidedness to their nature. After all, we can\u2019t have every student turning in the same essay, can we?\n\nWhether you want to generate song lyrics, marketing copy, presentation bullets or pictures of mermaids, the creators of the GPT models need them to demonstrate their free-spirited variety.\n\nHowever, what\u2019s good for creativity is bad for determinism. Solutions looking to establish facts, robustly and consistently, using the current breed of Gen-AI will fail." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "It ain\u2019t what you say, it\u2019s the way that you say it", "text": "For completeness I have to mention \u2018Prompt Engineering\u2019 \u2013 although I won\u2019t go into any detail, given it\u2019s probably the most widely written-about topic when it comes to Gen-AI.\n\nSuffice to say, in the same way that you get out what you put in with your standard Internet search query, this is even more so when it comes to Gen-AI queries and prompts.\n\nTo get good results from Gen-AI, behind the scenes you end up with some very long prompts, often running into many hundreds of words. Again, that is easily understood if you search \u2018prompt engineering\u2019 in your favourite Internet trawler, but what is less widely written about for enterprise uses is that the longer your prompt, the fewer words (~tokens) you then have available to feed the Gen-AI your grounding context, i.e. your input data.\n\nTherefore, the more accurate you try to make your answer, the less data you can give your Gen-AI to consider!" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "headline": "You ain\u2019t seen nothin\u2019 yet", "text": "Above, I\u2019ve demonstrated that Gen-AI is non-deterministic (inconsistent), biased (discriminative), incapable of measuring the quality of its responses and generally not suited to any task where you have one chance to get a factually correct (authoritative) result from unseen enterprise data, documents or transcripts.\n\nDoes that mean it doesn\u2019t have a role in the enterprise AI stack? Of course not \u2013 it mostly means that it must be constrained to the \u2018human in the loop\u2019 use cases for which it was intended: query/chat-based research and generative creativity.\n\nWhy \u2018mostly\u2019? \u2026Gen-AI\u2019s ability with natural human language does make a convenient and pleasant computer-to-human user interface \u2013 either way around.\n\nAnd this is the area where Recordsure is making the most of GPTs in our product suite: Conversation Intelligence and Document Intelligence.\n\nBut do we trust Gen-AI with our core product tasks of \u2018finding the right stuff\u2019? For all the reasons described above: no, we don\u2019t. It\u2019s not what the current cohort of Gen-AI is designed for and it simply cannot be made to work reliably.\n\nOur clients require proven accuracy and demonstrable consistency, whilst our expertise with \u2018traditional\u2019 AI remains the method to continue to deliver that; and no company working on Responsible AI should tell you otherwise.\n\nHowever, now that Gen-AI is secure, safe and affordable for use by enterprises (thanks largely to the major cloud vendors), Recordsure is blending traditional machine learning and Gen-AI to improve the user experience, as Gen-AI has a good ability to \u2018understand\u2019 and generate human language.\n\nWe\u2019d be foolish not to \u2013 but rather than as a solo artist, GPTs will likely remain a harmony singer in our AI troupe for a little while yet.\n\nAnd fingers crossed, with the rate of industry evolution at present, it may not be too long until the mega-AI companies crack the three big generative issues: determinism, discrimination and authority.\n\nImages courtesy of Generative AI. Words wholly not so \u2013 although it would probably have done a better job at song title puns than this author." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/bohemian-accuracy/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Does Gen-AI consider all of your enterprise data when it answers a question?", "acceptedAnswer": { "@type": "Answer", "text": "Not unless the GPT has been retrained on all of your data. Retrieval Augmented Generation (RAG) and similar techniques pass only a tiny subset of your data \u2013 usually the first page of vector-search snippets \u2013 to the model for each query." } }, { "@type": "Question", "name": "Why can\u2019t you set a confidence threshold for Gen-AI outputs?", "acceptedAnswer": { "@type": "Answer", "text": "GPTs generate a sequence of likely words rather than an \u2018answer\u2019, so they have no way of measuring confidence in its accuracy. With no answer and no confidence score, there is nothing to test against to set a routine accuracy threshold." } }, { "@type": "Question", "name": "Why does Gen-AI give different answers to the same question?", "acceptedAnswer": { "@type": "Answer", "text": "Partly for technical reasons: the latest GPT models are widely believed to use Sparse Mixture of Experts techniques, in which competing smaller models can each win. It is also deliberate, because generative models are designed to be creative." } }, { "@type": "Question", "name": "Why do longer prompts limit what Gen-AI can consider?", "acceptedAnswer": { "@type": "Answer", "text": "The longer the prompt, the fewer words (tokens) remain for grounding context. So the more accurate you try to make the answer, the less data the Gen-AI can consider." } }, { "@type": "Question", "name": "How does Recordsure use Gen-AI?", "acceptedAnswer": { "@type": "Answer", "text": "We do not trust Gen-AI with the core task of finding the right information; our expertise with traditional AI delivers the proven accuracy and consistency our clients require. We are blending Gen-AI with traditional machine learning to improve the user experience, using its ability with human language." } } ] } ] } ``` ### Algorithmic bias in retail finance - URL: https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/ - Published: 2023-12-01 - Modified: 2023-12-01 **Topic:** Algorithmic bias 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 routine audits, is far less risky than letting it decide. #### Key points - Supervised learning uncovers a relationship between predictors and a target in historical training data, then uses it to predict outcomes such as loan repayment. - Bias enters through training data: predictors such as postcode or prior employment can lead a loan approval model to discriminate by race or gender. - Left unchecked, bias cascades – biased decisions create biased data that trains further models and locks predictions into the past. - There is no silver-bullet cure; careful selection of training data and routine audits of predictive models are essential. - Using AI to gather information for human decisions, as in Recordsure’s file reviews, carries far lower risk than fully automated decisions. AI is unquestionably a powerful tool that can expedite work and increase efficiency in many industries, but it’s well known to have some serious drawbacks, such as algorithmic bias. In this guest post, [Noah Giansiracusa](https://www.noahgian.com/), Associate Professor of Mathematics and Data Science at Bentley University, Boston, US, and the author of the book *How Algorithms Create and Prevent Fake News*, considers AI in the context of retail finance. Noah evaluates what algorithmic bias means in the retail finance setting, why it crops up so persistently – and how companies can use AI in positive ways that reduce the risk of discrimination and other undesirable outcomes. #### Supervised learning Let’s start with supervised learning, the backbone of all modern AI, including the generative AI that has taken the world by storm. The basic set-up for supervised learning is that there is a variable of interest, referred to as the “target”, values of which we would like to predict based on the values of a collection of variables called “predictors”. We presume that we have a collection of data points, the “training data”, for which the values of the predictors *and* the target are known – and the goal of supervised learning is to uncover a relationship between the predictors and the target. Once the relationship between the predictors and the target is established, we can use it to make predictions. And so, for a new data point, with known predictor values but an unknown target value, the relationship deduced from the training data is used to estimate the value of the target. This being a very general and abstract description, let’s make this concept more concrete by considering an example in retail finance. #### AI in retail finance Our proposed scenario is that a bank wants to use supervised learning to automate the process of deciding which customers to grant small business loans to. In the past, the bank recorded three things about each loan request: the amount of the loan request, a numerical score denoting how favourably a loan officer at the bank viewed the business proposal, and whether the loan was successfully paid back on time. We use these historical records to form our training data: the request amount and proposal score are the two predictors, and the target is a binary variable with, say, “O” indicating the loan was paid back on time and “X” indicating that the loan wasn’t paid back. In this case, the training data can be visualised with a scatterplot. It’s easy to see that there’s an invisible diagonal line dividing the successfully repaid loans from the unsuccessful ones. We can draw that line and call that our “model”. When a new loan request comes in, we simply plot it as a point on the scatterplot and see which side of the diagonal line it falls on. That tells us whether our model predicts the new loan will be successfully repaid or not, and so the bank can use that prediction to decide whether to grant the loan – or not. In real life, the patterns in the data are much more complex and many predictors are used, which means visualisation is no longer an option. And that’s where supervised learning comes in. Supervised learning is a collection of elaborate mathematical methods for doing what we just did by hand (drawing a diagonal line) – but in much more complicated and higher-dimensional settings. Yet the basic idea is quite similar to the scatterplot: we find a shape to represent our data points, use this shape to separate successful loans from unsuccessful ones based on historical data, and then predict the success of new loan requests by seeing which side of the shape they fall on. #### Algorithmic bias Where does bias come into this story? The answer is the training data. Due to unfortunate human biases, women and other members of underrepresented populations face more hurdles in their efforts to successfully launch a business. This could include challenges such as more difficulty attracting customers and investors than their majority-member counterparts. Consequently, their loan repayment rates are likely to be lower. Now imagine that among our loan approval model’s predictors are some demographic variables, like race and gender – or even just variables that correlate with these variables, for instance postcode (which often correlates with race) and prior employment (which has some correlation with gender). When the model uses these predictors, due to the bias mentioned above, it will see that certain neighbourhoods and careers have lower loan repayment rates, and those will be neighbourhoods with more racial minorities and careers with more women. > Once banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates Then, when a new bank customer arrives and requests a loan, if they are from a neighbourhood that veers non-white or a career that veers less male, the chance of the model predicting successful loan repayment will be lower than it otherwise would be. Thus, the model has absorbed bias in the business world and is now causing discriminatory behaviour in loan approvals. Unfortunately, left unchecked, these problems tend to cascade. Once banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates – and this data may become training data for other predictive models in retail finance. Bias often spreads in this manner – biased data trains one model that then produces further biased data that then trains more models, creating even more discrimination and even more biased data. Moreover, this use of predictive models tends to lock us in the past: even if society makes progress in treating all people equally, if predictive models are trained on prior data, the models will behave like the past, not the present. #### How to avoid bias in machine learning There is no easy, silver-bullet cure for bias in machine learning. Careful analysis and selection of training data can help, and routine audits of predictive models to inspect for biased outcomes are essential. It’s important to recognise that machine learning and AI come in many ‘flavours’ and can be used in many different ways, some of which are less prone to bias. For instance, a recent [Nature article](https://www.nature.com/articles/d41586-023-02894-x) found that AI can help find suspect citations on Wikipedia and suggest potentially better ones that moderators can inspect and manually select if desired. This is an excellent example of AI being used as a tool to assist human decision-making, rather than replacing it. #### Use AI to collect information and inform your decisions In general, using AI to help gather information and inform decisions is less risky than using AI to make decisions – particularly since AI decisions tend to be inscrutable and prone to bias, as discussed earlier. What might this look like in retail finance? One of Recordsure’s tasks is inspecting the quality of advice between a human financial adviser and their customer, by evaluating the various paperwork and audio recordings of the meetings, to make sure all necessary information was captured and conveyed in a manner that adheres to regulatory and organisational compliance standards. In a similar spirit to the Wikipedia application mentioned above, Recordsure uses AI to hunt out the relevant information required for presentation to a human who is doing a manual ‘file review’. And the AI recommends which customer advice cases should be reviewed by a human. Because there is still significant room for bias in these uses of AI, the model inspections and vigilance mentioned earlier are a certain necessity. The good news is that the risks are far lower with this ‘human-in-the-loop’ approach than with a fully automated one. #### About Noah Giansiracusa [Noah Giansiracusa](https://www.noahgian.com/) (PhD in mathematics, Brown University) is a tenured Associate Professor of Mathematics and Data Science at Bentley University, a business school near Boston. His research interests range from algebraic geometry to machine learning to empirical legal studies. After publishing the book *How Algorithms Create and Prevent Fake News* in July 2021, Noah has become more involved in public writing, speaking and policy discussions concerning data-driven algorithms and their role in society. He has appeared on cable TV and BBC radio, written op-eds for Scientific American, TIME, Barron’s, Boston Globe, Wired, Slate and Fast Company, and been quoted in a range of newspapers. Noah is currently working on a second book, a popular maths book forthcoming with Riverhead Books (an imprint of Penguin). #### Supporting sources - [Nature article on AI that finds suspect Wikipedia citations and suggests better ones](https://www.nature.com/articles/d41586-023-02894-x) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Algorithmic bias in retail finance", "item": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/", "name": "Algorithmic bias in retail finance", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-12-01T12:58:49+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Algorithmic bias in retail finance", "datePublished": "2023-12-01T12:58:49+00:00", "dateModified": "2023-12-01T12:58:49+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ccd4152286e947abaebd981213ec91eb/thumbnail-1024-456e45140eac29cb6a36b6d81c1bd9ce6cfb090736b2a430c454afb4b7ddc910.png", "description": "Guest author Noah Giansiracusa of Bentley University explains how algorithmic bias enters retail finance through training data, why it spreads from model to model, and why using AI to inform human decisions lowers the risk.", "inLanguage": "en-GB", "articleBody": "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 routine audits, is far less risky than letting it decide.\n\nAI is unquestionably a powerful tool that can expedite work and increase efficiency in many industries, but it\u2019s well known to have some serious drawbacks, such as algorithmic bias.\n\nIn this guest post, Noah Giansiracusa, Associate Professor of Mathematics and Data Science at Bentley University, Boston, US, and the author of the book How Algorithms Create and Prevent Fake News, considers AI in the context of retail finance.\n\nNoah evaluates what algorithmic bias means in the retail finance setting, why it crops up so persistently \u2013 and how companies can use AI in positive ways that reduce the risk of discrimination and other undesirable outcomes.\n\nSupervised learning\n\nLet\u2019s start with supervised learning, the backbone of all modern AI, including the generative AI that has taken the world by storm.\n\nThe basic set-up for supervised learning is that there is a variable of interest, referred to as the \u201ctarget\u201d, values of which we would like to predict based on the values of a collection of variables called \u201cpredictors\u201d.\n\nWe presume that we have a collection of data points, the \u201ctraining data\u201d, for which the values of the predictors and the target are known \u2013 and the goal of supervised learning is to uncover a relationship between the predictors and the target.\n\nOnce the relationship between the predictors and the target is established, we can use it to make predictions. And so, for a new data point, with known predictor values but an unknown target value, the relationship deduced from the training data is used to estimate the value of the target.\n\nThis being a very general and abstract description, let\u2019s make this concept more concrete by considering an example in retail finance.\n\nAI in retail finance\n\nOur proposed scenario is that a bank wants to use supervised learning to automate the process of deciding which customers to grant small business loans to.\n\nIn the past, the bank recorded three things about each loan request: the amount of the loan request, a numerical score denoting how favourably a loan officer at the bank viewed the business proposal, and whether the loan was successfully paid back on time.\n\nWe use these historical records to form our training data: the request amount and proposal score are the two predictors, and the target is a binary variable with, say, \u201cO\u201d indicating the loan was paid back on time and \u201cX\u201d indicating that the loan wasn\u2019t paid back. In this case, the training data can be visualised with a scatterplot.\n\nIt\u2019s easy to see that there\u2019s an invisible diagonal line dividing the successfully repaid loans from the unsuccessful ones. We can draw that line and call that our \u201cmodel\u201d.\n\nWhen a new loan request comes in, we simply plot it as a point on the scatterplot and see which side of the diagonal line it falls on. That tells us whether our model predicts the new loan will be successfully repaid or not, and so the bank can use that prediction to decide whether to grant the loan \u2013 or not.\n\nIn real life, the patterns in the data are much more complex and many predictors are used, which means visualisation is no longer an option.\n\nAnd that\u2019s where supervised learning comes in. Supervised learning is a collection of elaborate mathematical methods for doing what we just did by hand (drawing a diagonal line) \u2013 but in much more complicated and higher-dimensional settings.\n\nYet the basic idea is quite similar to the scatterplot: we find a shape to represent our data points, use this shape to separate successful loans from unsuccessful ones based on historical data, and then predict the success of new loan requests by seeing which side of the shape they fall on.\n\nAlgorithmic bias\n\nWhere does bias come into this story?\n\nThe answer is the training data.\n\nDue to unfortunate human biases, women and other members of underrepresented populations face more hurdles in their efforts to successfully launch a business. This could include challenges such as more difficulty attracting customers and investors than their majority-member counterparts. Consequently, their loan repayment rates are likely to be lower.\n\nNow imagine that among our loan approval model\u2019s predictors are some demographic variables, like race and gender \u2013 or even just variables that correlate with these variables, for instance postcode (which often correlates with race) and prior employment (which has some correlation with gender).\n\nWhen the model uses these predictors, due to the bias mentioned above, it will see that certain neighbourhoods and careers have lower loan repayment rates, and those will be neighbourhoods with more racial minorities and careers with more women.\n\nOnce banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates\n\nThen, when a new bank customer arrives and requests a loan, if they are from a neighbourhood that veers non-white or a career that veers less male, the chance of the model predicting successful loan repayment will be lower than it otherwise would be. Thus, the model has absorbed bias in the business world and is now causing discriminatory behaviour in loan approvals.\n\nUnfortunately, left unchecked, these problems tend to cascade. Once banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates \u2013 and this data may become training data for other predictive models in retail finance.\n\nBias often spreads in this manner \u2013 biased data trains one model that then produces further biased data that then trains more models, creating even more discrimination and even more biased data.\n\nMoreover, this use of predictive models tends to lock us in the past: even if society makes progress in treating all people equally, if predictive models are trained on prior data, the models will behave like the past, not the present.\n\nHow to avoid bias in machine learning\n\nThere is no easy, silver-bullet cure for bias in machine learning.\n\nCareful analysis and selection of training data can help, and routine audits of predictive models to inspect for biased outcomes are essential.\n\nIt\u2019s important to recognise that machine learning and AI come in many \u2018flavours\u2019 and can be used in many different ways, some of which are less prone to bias.\n\nFor instance, a recent Nature article found that AI can help find suspect citations on Wikipedia and suggest potentially better ones that moderators can inspect and manually select if desired.\n\nThis is an excellent example of AI being used as a tool to assist human decision-making, rather than replacing it.\n\nUse AI to collect information and inform your decisions\n\nIn general, using AI to help gather information and inform decisions is less risky than using AI to make decisions \u2013 particularly since AI decisions tend to be inscrutable and prone to bias, as discussed earlier.\n\nWhat might this look like in retail finance?\n\nOne of Recordsure\u2019s tasks is inspecting the quality of advice between a human financial adviser and their customer, by evaluating the various paperwork and audio recordings of the meetings, to make sure all necessary information was captured and conveyed in a manner that adheres to regulatory and organisational compliance standards.\n\nIn a similar spirit to the Wikipedia application mentioned above, Recordsure uses AI to hunt out the relevant information required for presentation to a human who is doing a manual \u2018file review\u2019. And the AI recommends which customer advice cases should be reviewed by a human.\n\nBecause there is still significant room for bias in these uses of AI, the model inspections and vigilance mentioned earlier are a certain necessity.\n\nThe good news is that the risks are far lower with this \u2018human-in-the-loop\u2019 approach than with a fully automated one.\n\nAbout Noah Giansiracusa\n\nNoah Giansiracusa (PhD in mathematics, Brown University) is a tenured Associate Professor of Mathematics and Data Science at Bentley University, a business school near Boston. His research interests range from algebraic geometry to machine learning to empirical legal studies.\n\nAfter publishing the book How Algorithms Create and Prevent Fake News in July 2021, Noah has become more involved in public writing, speaking and policy discussions concerning data-driven algorithms and their role in society.\n\nHe has appeared on cable TV and BBC radio, written op-eds for Scientific American, TIME, Barron\u2019s, Boston Globe, Wired, Slate and Fast Company, and been quoted in a range of newspapers. Noah is currently working on a second book, a popular maths book forthcoming with Riverhead Books (an imprint of Penguin).", "wordCount": 1460, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Algorithmic bias" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-7" } ], "citation": [ { "@type": "CreativeWork", "name": "Nature article on AI that finds suspect Wikipedia citations and suggests better ones", "url": "https://www.nature.com/articles/d41586-023-02894-x" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "text": "AI is unquestionably a powerful tool that can expedite work and increase efficiency in many industries, but it\u2019s well known to have some serious drawbacks, such as algorithmic bias.\n\nIn this guest post, Noah Giansiracusa, Associate Professor of Mathematics and Data Science at Bentley University, Boston, US, and the author of the book How Algorithms Create and Prevent Fake News, considers AI in the context of retail finance.\n\nNoah evaluates what algorithmic bias means in the retail finance setting, why it crops up so persistently \u2013 and how companies can use AI in positive ways that reduce the risk of discrimination and other undesirable outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Supervised learning", "text": "Let\u2019s start with supervised learning, the backbone of all modern AI, including the generative AI that has taken the world by storm.\n\nThe basic set-up for supervised learning is that there is a variable of interest, referred to as the \u201ctarget\u201d, values of which we would like to predict based on the values of a collection of variables called \u201cpredictors\u201d.\n\nWe presume that we have a collection of data points, the \u201ctraining data\u201d, for which the values of the predictors and the target are known \u2013 and the goal of supervised learning is to uncover a relationship between the predictors and the target.\n\nOnce the relationship between the predictors and the target is established, we can use it to make predictions. And so, for a new data point, with known predictor values but an unknown target value, the relationship deduced from the training data is used to estimate the value of the target.\n\nThis being a very general and abstract description, let\u2019s make this concept more concrete by considering an example in retail finance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "AI in retail finance", "text": "Our proposed scenario is that a bank wants to use supervised learning to automate the process of deciding which customers to grant small business loans to.\n\nIn the past, the bank recorded three things about each loan request: the amount of the loan request, a numerical score denoting how favourably a loan officer at the bank viewed the business proposal, and whether the loan was successfully paid back on time.\n\nWe use these historical records to form our training data: the request amount and proposal score are the two predictors, and the target is a binary variable with, say, \u201cO\u201d indicating the loan was paid back on time and \u201cX\u201d indicating that the loan wasn\u2019t paid back. In this case, the training data can be visualised with a scatterplot.\n\nIt\u2019s easy to see that there\u2019s an invisible diagonal line dividing the successfully repaid loans from the unsuccessful ones. We can draw that line and call that our \u201cmodel\u201d.\n\nWhen a new loan request comes in, we simply plot it as a point on the scatterplot and see which side of the diagonal line it falls on. That tells us whether our model predicts the new loan will be successfully repaid or not, and so the bank can use that prediction to decide whether to grant the loan \u2013 or not.\n\nIn real life, the patterns in the data are much more complex and many predictors are used, which means visualisation is no longer an option.\n\nAnd that\u2019s where supervised learning comes in. Supervised learning is a collection of elaborate mathematical methods for doing what we just did by hand (drawing a diagonal line) \u2013 but in much more complicated and higher-dimensional settings.\n\nYet the basic idea is quite similar to the scatterplot: we find a shape to represent our data points, use this shape to separate successful loans from unsuccessful ones based on historical data, and then predict the success of new loan requests by seeing which side of the shape they fall on." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Algorithmic bias", "text": "Where does bias come into this story?\n\nThe answer is the training data.\n\nDue to unfortunate human biases, women and other members of underrepresented populations face more hurdles in their efforts to successfully launch a business. This could include challenges such as more difficulty attracting customers and investors than their majority-member counterparts. Consequently, their loan repayment rates are likely to be lower.\n\nNow imagine that among our loan approval model\u2019s predictors are some demographic variables, like race and gender \u2013 or even just variables that correlate with these variables, for instance postcode (which often correlates with race) and prior employment (which has some correlation with gender).\n\nWhen the model uses these predictors, due to the bias mentioned above, it will see that certain neighbourhoods and careers have lower loan repayment rates, and those will be neighbourhoods with more racial minorities and careers with more women.\n\nOnce banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates\n\nThen, when a new bank customer arrives and requests a loan, if they are from a neighbourhood that veers non-white or a career that veers less male, the chance of the model predicting successful loan repayment will be lower than it otherwise would be. Thus, the model has absorbed bias in the business world and is now causing discriminatory behaviour in loan approvals.\n\nUnfortunately, left unchecked, these problems tend to cascade. Once banks use biased predictive models to make loan decisions, this creates data of women and minorities getting loans rejected at higher rates \u2013 and this data may become training data for other predictive models in retail finance.\n\nBias often spreads in this manner \u2013 biased data trains one model that then produces further biased data that then trains more models, creating even more discrimination and even more biased data.\n\nMoreover, this use of predictive models tends to lock us in the past: even if society makes progress in treating all people equally, if predictive models are trained on prior data, the models will behave like the past, not the present." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "How to avoid bias in machine learning", "text": "There is no easy, silver-bullet cure for bias in machine learning.\n\nCareful analysis and selection of training data can help, and routine audits of predictive models to inspect for biased outcomes are essential.\n\nIt\u2019s important to recognise that machine learning and AI come in many \u2018flavours\u2019 and can be used in many different ways, some of which are less prone to bias.\n\nFor instance, a recent Nature article found that AI can help find suspect citations on Wikipedia and suggest potentially better ones that moderators can inspect and manually select if desired.\n\nThis is an excellent example of AI being used as a tool to assist human decision-making, rather than replacing it." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "Use AI to collect information and inform your decisions", "text": "In general, using AI to help gather information and inform decisions is less risky than using AI to make decisions \u2013 particularly since AI decisions tend to be inscrutable and prone to bias, as discussed earlier.\n\nWhat might this look like in retail finance?\n\nOne of Recordsure\u2019s tasks is inspecting the quality of advice between a human financial adviser and their customer, by evaluating the various paperwork and audio recordings of the meetings, to make sure all necessary information was captured and conveyed in a manner that adheres to regulatory and organisational compliance standards.\n\nIn a similar spirit to the Wikipedia application mentioned above, Recordsure uses AI to hunt out the relevant information required for presentation to a human who is doing a manual \u2018file review\u2019. And the AI recommends which customer advice cases should be reviewed by a human.\n\nBecause there is still significant room for bias in these uses of AI, the model inspections and vigilance mentioned earlier are a certain necessity.\n\nThe good news is that the risks are far lower with this \u2018human-in-the-loop\u2019 approach than with a fully automated one." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "headline": "About Noah Giansiracusa", "text": "Noah Giansiracusa (PhD in mathematics, Brown University) is a tenured Associate Professor of Mathematics and Data Science at Bentley University, a business school near Boston. His research interests range from algebraic geometry to machine learning to empirical legal studies.\n\nAfter publishing the book How Algorithms Create and Prevent Fake News in July 2021, Noah has become more involved in public writing, speaking and policy discussions concerning data-driven algorithms and their role in society.\n\nHe has appeared on cable TV and BBC radio, written op-eds for Scientific American, TIME, Barron\u2019s, Boston Globe, Wired, Slate and Fast Company, and been quoted in a range of newspapers. Noah is currently working on a second book, a popular maths book forthcoming with Riverhead Books (an imprint of Penguin)." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/algorithmic-bias-in-retail-finance/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is algorithmic bias in retail finance?", "acceptedAnswer": { "@type": "Answer", "text": "It arises when a predictive model absorbs human bias from its training data. A loan approval model whose predictors correlate with race or gender, such as postcode or prior employment, can predict lower repayment for women and minorities and reject their loans more often." } }, { "@type": "Question", "name": "Why does algorithmic bias spread?", "acceptedAnswer": { "@type": "Answer", "text": "Biased models create biased data, such as higher loan rejection rates for women and minorities, which may then train other predictive models. Models trained on prior data also behave like the past, not the present." } }, { "@type": "Question", "name": "Can firms remove bias from machine learning?", "acceptedAnswer": { "@type": "Answer", "text": "There is no easy, silver-bullet cure. Careful analysis and selection of training data helps, routine audits of predictive models are essential, and using AI to inform human decisions is less risky than using it to make them." } }, { "@type": "Question", "name": "How does Recordsure keep a human in the loop?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure uses AI to hunt out the information a human needs for a manual file review of advice paperwork and meeting recordings, and to recommend which customer advice cases a human should review." } } ] } ] } ``` ### International STEM Day: Optimising AI - URL: https://recordsure.com/insights/news/international-stem-day-2023/ - Published: 2023-11-01 - Modified: 2023-11-01 **Topic:** AI and STEM careers AI’s breakout year – Collins Dictionary’s word of the year for 2023 – is already reshaping the careers the next generation will train for. Those entering STEM fields will work alongside AI, which can take on repetitive and data-heavy tasks and free people for creative, human work. #### Key points - Collins Dictionary named AI 2023’s word of the year, after use of the term quadrupled in a year. - The UK’s AI summit for 100 world leaders, academics and AI researchers aims to maximise the benefits of tech with minimal risks. - As AI automates repetitive and mundane tasks, the roles the next generation train for will look very different from today’s job market. - AI can do the heavy lifting on large reams of data, freeing people to focus on tasks that truly need human intervention. 2023 has been a breakout year for Artificial Intelligence (AI), with Collins Dictionary declaring that use of the term has quadrupled since this time last year. So, as we look to celebrate International Science, Technology, Engineering and Mathematics (STEM) Day on 8th November, we consider the fast-paced evolution of these industries and how AI advancements are already shaping the career choices of the next generation. #### ‘Word of the year’ It’s clear to see that AI has never been more talked about than it is right now, which is why Collins Dictionary has also named the term as 2023’s ‘word of the year’. This rise in familiarity among the public also coincides with the [AI summit](https://www.gov.uk/government/publications/ai-safety-summit-introduction/ai-safety-summit-introduction-html) for 100 world leaders, academics and AI researchers – held in the UK this November – which aims to discuss how the benefits of tech can be maximised with minimal risks. #### Working alongside AI In our evolving world, AI is a hot topic, and there’s no denying it has the potential to transform how STEM subjects are both taught and applied in the workplace. As AI continues to automate repetitive and mundane tasks across many industries, we can expect the types of roles the next generation train for to be very different from today’s job market. At Recordsure, we’re firm believers in applying AI in the safest way to offer positive benefits to its users. For instance, AI can do the heavy lifting when looking at large reams of data, freeing up people’s time to focus on work tasks that truly need human intervention. Those who choose a career in STEM-related fields will undoubtedly work alongside AI in the years to come – in turn giving them more freedom to be the creative, free thinkers that International STEM Day celebrates. #### Supporting sources - [AI Safety Summit: introduction (GOV.UK)](https://www.gov.uk/government/publications/ai-safety-summit-introduction/ai-safety-summit-introduction-html) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "International STEM Day: Optimising AI", "item": "https://recordsure.com/insights/news/international-stem-day-2023/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage", "url": "https://recordsure.com/insights/news/international-stem-day-2023/", "name": "International STEM Day: Optimising AI", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-11-01T17:15:54+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "International STEM Day: Optimising AI", "datePublished": "2023-11-01T17:15:54+00:00", "dateModified": "2023-11-01T17:15:54+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ec3bca9584b1472690085ab90ad6a7c3/thumbnail-1024-59f0b2b8ce255a6a6678c10b2dbe9e838e3706d417a89b245bf6908bac940d84.png", "description": "AI became Collins Dictionary\u2019s word of the year in 2023. Ahead of International STEM Day, we consider how AI is already shaping the next generation\u2019s career choices \u2013 and why future STEM professionals will work alongside it.", "inLanguage": "en-GB", "articleBody": "AI\u2019s breakout year \u2013 Collins Dictionary\u2019s word of the year for 2023 \u2013 is already reshaping the careers the next generation will train for. Those entering STEM fields will work alongside AI, which can take on repetitive and data-heavy tasks and free people for creative, human work.\n\n2023 has been a breakout year for Artificial Intelligence (AI), with Collins Dictionary declaring that use of the term has quadrupled since this time last year.\n\nSo, as we look to celebrate International Science, Technology, Engineering and Mathematics (STEM) Day on 8th November, we consider the fast-paced evolution of these industries and how AI advancements are already shaping the career choices of the next generation.\n\n\u2018Word of the year\u2019\n\nIt\u2019s clear to see that AI has never been more talked about than it is right now, which is why Collins Dictionary has also named the term as 2023\u2019s \u2018word of the year\u2019. This rise in familiarity among the public also coincides with the AI summit for 100 world leaders, academics and AI researchers \u2013 held in the UK this November \u2013 which aims to discuss how the benefits of tech can be maximised with minimal risks.\n\nWorking alongside AI\n\nIn our evolving world, AI is a hot topic, and there\u2019s no denying it has the potential to transform how STEM subjects are both taught and applied in the workplace. As AI continues to automate repetitive and mundane tasks across many industries, we can expect the types of roles the next generation train for to be very different from today\u2019s job market.\n\nAt Recordsure, we\u2019re firm believers in applying AI in the safest way to offer positive benefits to its users. For instance, AI can do the heavy lifting when looking at large reams of data, freeing up people\u2019s time to focus on work tasks that truly need human intervention.\n\nThose who choose a career in STEM-related fields will undoubtedly work alongside AI in the years to come \u2013 in turn giving them more freedom to be the creative, free thinkers that International STEM Day celebrates.", "wordCount": 342, "hasPart": [ { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-3" } ], "about": [ { "@type": "Thing", "name": "AI and STEM careers" } ], "citation": [ { "@type": "CreativeWork", "name": "AI Safety Summit: introduction (GOV.UK)", "url": "https://www.gov.uk/government/publications/ai-safety-summit-introduction/ai-safety-summit-introduction-html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "inLanguage": "en-GB", "text": "2023 has been a breakout year for Artificial Intelligence (AI), with Collins Dictionary declaring that use of the term has quadrupled since this time last year.\n\nSo, as we look to celebrate International Science, Technology, Engineering and Mathematics (STEM) Day on 8th November, we consider the fast-paced evolution of these industries and how AI advancements are already shaping the career choices of the next generation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "inLanguage": "en-GB", "headline": "\u2018Word of the year\u2019", "text": "It\u2019s clear to see that AI has never been more talked about than it is right now, which is why Collins Dictionary has also named the term as 2023\u2019s \u2018word of the year\u2019. This rise in familiarity among the public also coincides with the AI summit for 100 world leaders, academics and AI researchers \u2013 held in the UK this November \u2013 which aims to discuss how the benefits of tech can be maximised with minimal risks." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "inLanguage": "en-GB", "headline": "Working alongside AI", "text": "In our evolving world, AI is a hot topic, and there\u2019s no denying it has the potential to transform how STEM subjects are both taught and applied in the workplace. As AI continues to automate repetitive and mundane tasks across many industries, we can expect the types of roles the next generation train for to be very different from today\u2019s job market.\n\nAt Recordsure, we\u2019re firm believers in applying AI in the safest way to offer positive benefits to its users. For instance, AI can do the heavy lifting when looking at large reams of data, freeing up people\u2019s time to focus on work tasks that truly need human intervention.\n\nThose who choose a career in STEM-related fields will undoubtedly work alongside AI in the years to come \u2013 in turn giving them more freedom to be the creative, free thinkers that International STEM Day celebrates." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/international-stem-day-2023/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why was 2023 a breakout year for AI?", "acceptedAnswer": { "@type": "Answer", "text": "Collins Dictionary reported that use of the term had quadrupled in a year and named AI 2023\u2019s word of the year, while the UK hosted an AI summit for 100 world leaders, academics and AI researchers." } }, { "@type": "Question", "name": "How could AI change STEM careers?", "acceptedAnswer": { "@type": "Answer", "text": "AI has the potential to transform how STEM subjects are taught and applied at work. As it automates repetitive and mundane tasks, the roles the next generation train for will be very different, and they will work alongside AI." } }, { "@type": "Question", "name": "How does Recordsure believe AI should be applied?", "acceptedAnswer": { "@type": "Answer", "text": "In the safest way, to offer positive benefits to its users \u2013 for instance, letting AI do the heavy lifting on large reams of data so people can focus on work that truly needs human intervention." } } ] } ] } ``` ### Webinar recap: How Recordsure technology unlocks new regulatory compliance efficiencies - URL: https://recordsure.com/insights/analysis-and-perspective/webinar-how-document-intelligence-unlocks-regulatory-compliance-efficiencies/ - Published: 2023-10-11 - Modified: 2023-10-11 **Topic:** RegTech webinar 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. #### Key points - Garry Evans, Recordsure’s Chief Product & Commercial Officer, presented at the RegTech Global Association’s #RegTechEdgeNoBorders webinar series. - The edition centred on the topic of regulatory compliance solutions. - He showcased how Conversation Intelligence and Document Intelligence can level up firms’ compliance processes with AI-enabled insights and smart automation. [Related video](https://www.youtube.com/watch?v=vml9h91bMj8&t=2420s) Recordsure’s Garry Evans dropped by the RegTech Association’s recent #RegTechEdgeNoBorders webcast to deliver his elevator pitch for Recordsure technology. We were very happy to be invited back to present as part of [the RegTech Global Association](https://regtechglobal.org/)’s ongoing **#RegTechEdgeNoBorders** webinar series! #### Showcasing Conversation Intelligence and Document Intelligence This edition, centred on the topic of ‘regulatory compliance solutions’, proved a fitting forum for Recordsure’s Chief Product & Commercial Officer, Garry Evans, to showcase the potential of our [Conversation Intelligence](/conversation-intelligence/) and [Document Intelligence](/document-intelligence/) platforms for levelling up firms’ compliance processes with AI-enabled insights and smart automation. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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part of the RegTech Global Association\u2019s ongoing #RegTechEdgeNoBorders webinar series!\n\nShowcasing Conversation Intelligence and Document Intelligence\n\nThis edition, centred on the topic of \u2018regulatory compliance solutions\u2019, proved a fitting forum for Recordsure\u2019s Chief Product & Commercial Officer, Garry Evans, to showcase the potential of our Conversation Intelligence and Document Intelligence platforms for levelling up firms\u2019 compliance processes with AI-enabled insights and smart automation.", "wordCount": 125, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/webinar-how-document-intelligence-unlocks-regulatory-compliance-efficiencies/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/webinar-how-document-intelligence-unlocks-regulatory-compliance-efficiencies/#analysis-2" } ], "about": [ { "@type": "Thing", "name": "RegTech webinar" } ] }, { "@type": "WebPageElement", "@id": 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often-vulnerable older borrowers at risk. Firms need rigorous, scalable Quality Assurance, and Document Intelligence can speed up case reviews and focus skilled people on the most critical cases. #### Key points - Almost 400 later life mortgage promotions were taken down or amended after the FCA’s multi-firm review found ‘misrepresentative content’. - Some firms failed to consider borrowers’ income and expenditure, did not assess more suitable alternatives, or prioritised sales over personalised, impartial advice. - Later life mortgage customers are largely older adults, who often carry a higher risk of vulnerability through lack of a regular income, health issues and social isolation. - Document Intelligence dates and classifies every document in a case file with a 95% accuracy rate, so reviewers can skip to records of interest and halve handling time. - Firms can set aside the 95% of cases that show no issues and focus skilled people on the most critical instances of sub-standard advice or conduct risk. Following its multi-firm review into later life mortgages, the FCA has revealed that almost 400 financial promotions have been taken down or amended after failing to meet regulatory standards over ‘misrepresentative content’. The initiative saw the regulator work with the largest intermediaries of these products – which together comprise almost half of all later life mortgage sellers – to improve the quality and transparency of their advice processes. A [report detailing key findings](https://www.fca.org.uk/publications/multi-firm-reviews/action-needed-ensure-good-outcomes-later-life-mortgage-borrowers) from the review, along with expectations for businesses, was published on 14th September. The reasons for flagging advertisements as sub-standard included offering inaccurate or misleading information, or otherwise highlighting the benefits of a product without adequately explaining the potential risks. The FCA also noted cases of firms using their ‘FCA regulated’ status as a promotional tool, which is forbidden under the current guidelines. #### Equity Release and vulnerability: understanding the risks of later life mortgages As the most popular form of Equity Release product, later life mortgages are often the go-to choice for customers looking to release money tied up in the value of their home. As the name suggests, the target market consists largely of older adults – a demographic who often carry a higher risk of vulnerability due to factors including lack of a regular income, health issues and social isolation. All of these compounding concerns highlight the need for clear customer advice, particularly when dealing with potentially complex financial products such as Equity Release. The FCA echoed this sentiment in its [Business Plan 2022/2023](https://www.fca.org.uk/publications/business-plans/2022-23), alongside a pledge to review its previous findings surrounding poor-quality advice within the market. Fast-forward to today: the latest review concluded that some firms were failing to properly consider the borrower’s income and expenditure before dispensing advice. It also found multiple instances of firms offering later life mortgages without assessing alternative products that may have been more suitable. And perhaps most concerning of all, the study suggested that some firms were prioritising making sales over providing detailed, personalised and impartial advice, steering customers towards later life mortgage products even against their own best interests. #### Firms need to scale up oversight – but is this possible without scaling up costs? When dealing with both complex products and a target market susceptible to signs of vulnerability, it’s critical that firms have a rigorous Quality Assurance process in place to ensure customers are being offered advice that helps them achieve their goals in the most effective, low-risk manner. Maintaining this level of oversight – without sacrificing attention to detail – can prove an ongoing challenge without permanently dedicating significant budget, time and human resource to the assignment. That’s why regulated businesses are turning to AI RegTech to help their teams automate time-consuming tasks and unlock greater visibility of the most high-risk cases in need of review. #### Maximise QA efficiency and effectiveness with Document Intelligence Recordsure’s [Document Intelligence](/document-intelligence/) platform has been purpose-built to help firms speed up their case reviews with a level of quality and consistency that’s unachievable by manual processes alone. Harnessing the latest in AI technology, our solution allows firms to: - **Identify** – Document Intelligence dates and classifies every document within a case file, faster than human reviewers ever could, with a 95% accuracy rate. This allows users to skip straight to records of interest and halve their overall handling time. - **Review** – an easy-to-use interface gives users a consistent navigation view to search complex documentation for key information and flag sections critical to the review, offering real-time integration with CRM or Workflow applications. - **Discover** – Document Intelligence delivers a smart summation of the entire case according to review theme, allowing reviewers to work across multiple files at once instead of repeatedly flicking between documents. Document Intelligence’s unique features enable firms to focus their skilled people solely on skilled tasks and set aside the 95% of cases that show no issues, instead focusing entirely on the most critical instances of sub-standard advice or conduct risk. #### Real-world applications of AI RegTech - A [‘big 4’ consultancy in Australia](/case-studies/document-intelligence-big-4-consultancy-australia/) has already used these tools to help a 500-strong team review over nine million documents for a major remediation project – ultimately improving on its initial ambitious target of a 40% reduction in handling time. - A [major UK consultancy](/case-studies/document-intelligence-consultancy-managed-services-uk/) had similar success using Document Intelligence to streamline its QA processes, empowering it to expand its managed services provision far beyond what was previously feasible. #### Supporting sources - [Action needed to ensure good outcomes for later life mortgage borrowers (FCA multi-firm review)](https://www.fca.org.uk/publications/multi-firm-reviews/action-needed-ensure-good-outcomes-later-life-mortgage-borrowers) - [FCA Business Plan 2022/2023](https://www.fca.org.uk/publications/business-plans/2022-23) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. [Explore Document Intelligence](https://recordsure.com/document-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FCA review into later life mortgages highlights the need for robust QA processes", "item": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/", "name": "FCA review into later life mortgages highlights the need for robust QA processes", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-09-28T10:52:21+01:00", "dateModified": "2024-08-12T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-12" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FCA review into later life mortgages highlights the need for robust QA processes", "datePublished": "2023-09-28T10:52:21+01:00", "dateModified": "2023-09-28T10:52:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a800277312364a4f8757eb0a6a6011ff/thumbnail-1024-371c71d268b1d0eec7841d4593c14ea8ffa844f989e0746dc3e77a58eff6a1a6.jpg", "description": "After an FCA review, almost 400 later life mortgage promotions were taken down or amended over \u2018misrepresentative content\u2019. What the findings mean for vulnerable borrowers, and how AI-powered document analytics helps QA teams scale oversight without scaling costs.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s 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 case reviews and focus skilled people on the most critical cases.\n\nFollowing its multi-firm review into later life mortgages, the FCA has revealed that almost 400 financial promotions have been taken down or amended after failing to meet regulatory standards over \u2018misrepresentative content\u2019.\n\nThe initiative saw the regulator work with the largest intermediaries of these products \u2013 which together comprise almost half of all later life mortgage sellers \u2013 to improve the quality and transparency of their advice processes. A report detailing key findings from the review, along with expectations for businesses, was published on 14th September.\n\nThe reasons for flagging advertisements as sub-standard included offering inaccurate or misleading information, or otherwise highlighting the benefits of a product without adequately explaining the potential risks. The FCA also noted cases of firms using their \u2018FCA regulated\u2019 status as a promotional tool, which is forbidden under the current guidelines.\n\nEquity Release and vulnerability: understanding the risks of later life mortgages\n\nAs the most popular form of Equity Release product, later life mortgages are often the go-to choice for customers looking to release money tied up in the value of their home. As the name suggests, the target market consists largely of older adults \u2013 a demographic who often carry a higher risk of vulnerability due to factors including lack of a regular income, health issues and social isolation.\n\nAll of these compounding concerns highlight the need for clear customer advice, particularly when dealing with potentially complex financial products such as Equity Release. The FCA echoed this sentiment in its Business Plan 2022/2023, alongside a pledge to review its previous findings surrounding poor-quality advice within the market.\n\nFast-forward to today: the latest review concluded that some firms were failing to properly consider the borrower\u2019s income and expenditure before dispensing advice. It also found multiple instances of firms offering later life mortgages without assessing alternative products that may have been more suitable.\n\nAnd perhaps most concerning of all, the study suggested that some firms were prioritising making sales over providing detailed, personalised and impartial advice, steering customers towards later life mortgage products even against their own best interests.\n\nFirms need to scale up oversight \u2013 but is this possible without scaling up costs?\n\nWhen dealing with both complex products and a target market susceptible to signs of vulnerability, it\u2019s critical that firms have a rigorous Quality Assurance process in place to ensure customers are being offered advice that helps them achieve their goals in the most effective, low-risk manner.\n\nMaintaining this level of oversight \u2013 without sacrificing attention to detail \u2013 can prove an ongoing challenge without permanently dedicating significant budget, time and human resource to the assignment.\n\nThat\u2019s why regulated businesses are turning to AI RegTech to help their teams automate time-consuming tasks and unlock greater visibility of the most high-risk cases in need of review.\n\nMaximise QA efficiency and effectiveness with Document Intelligence\n\nRecordsure\u2019s Document Intelligence platform has been purpose-built to help firms speed up their case reviews with a level of quality and consistency that\u2019s unachievable by manual processes alone.\n\nHarnessing the latest in AI technology, our solution allows firms to:\n\n\u2022 Identify \u2013 Document Intelligence dates and classifies every document within a case file, faster than human reviewers ever could, with a 95% accuracy rate. 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A report detailing key findings from the review, along with expectations for businesses, was published on 14th September.\n\nThe reasons for flagging advertisements as sub-standard included offering inaccurate or misleading information, or otherwise highlighting the benefits of a product without adequately explaining the potential risks. The FCA also noted cases of firms using their \u2018FCA regulated\u2019 status as a promotional tool, which is forbidden under the current guidelines." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "inLanguage": "en-GB", "headline": "Equity Release and vulnerability: understanding the risks of later life mortgages", "text": "As the most popular form of Equity Release product, later life mortgages are often the go-to choice for customers looking to release money tied up in the value of their home. As the name suggests, the target market consists largely of older adults \u2013 a demographic who often carry a higher risk of vulnerability due to factors including lack of a regular income, health issues and social isolation.\n\nAll of these compounding concerns highlight the need for clear customer advice, particularly when dealing with potentially complex financial products such as Equity Release. The FCA echoed this sentiment in its Business Plan 2022/2023, alongside a pledge to review its previous findings surrounding poor-quality advice within the market.\n\nFast-forward to today: the latest review concluded that some firms were failing to properly consider the borrower\u2019s income and expenditure before dispensing advice. It also found multiple instances of firms offering later life mortgages without assessing alternative products that may have been more suitable.\n\nAnd perhaps most concerning of all, the study suggested that some firms were prioritising making sales over providing detailed, personalised and impartial advice, steering customers towards later life mortgage products even against their own best interests." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "inLanguage": "en-GB", "headline": "Firms need to scale up oversight \u2013 but is this possible without scaling up costs?", "text": "When dealing with both complex products and a target market susceptible to signs of vulnerability, it\u2019s critical that firms have a rigorous Quality Assurance process in place to ensure customers are being offered advice that helps them achieve their goals in the most effective, low-risk manner.\n\nMaintaining this level of oversight \u2013 without sacrificing attention to detail \u2013 can prove an ongoing challenge without permanently dedicating significant budget, time and human resource to the assignment.\n\nThat\u2019s why regulated businesses are turning to AI RegTech to help their teams automate time-consuming tasks and unlock greater visibility of the most high-risk cases in need of review." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "inLanguage": "en-GB", "headline": "Maximise QA efficiency and effectiveness with Document Intelligence", "text": "Recordsure\u2019s Document Intelligence platform has been purpose-built to help firms speed up their case reviews with a level of quality and consistency that\u2019s unachievable by manual processes alone.\n\nHarnessing the latest in AI technology, our solution allows firms to:\n\n\u2022 Identify \u2013 Document Intelligence dates and classifies every document within a case file, faster than human reviewers ever could, with a 95% accuracy rate. This allows users to skip straight to records of interest and halve their overall handling time.\n\u2022 Review \u2013 an easy-to-use interface gives users a consistent navigation view to search complex documentation for key information and flag sections critical to the review, offering real-time integration with CRM or Workflow applications.\n\u2022 Discover \u2013 Document Intelligence delivers a smart summation of the entire case according to review theme, allowing reviewers to work across multiple files at once instead of repeatedly flicking between documents.\n\nDocument Intelligence\u2019s unique features enable firms to focus their skilled people solely on skilled tasks and set aside the 95% of cases that show no issues, instead focusing entirely on the most critical instances of sub-standard advice or conduct risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "inLanguage": "en-GB", "headline": "Real-world applications of AI RegTech", "text": "\u2022 A \u2018big 4\u2019 consultancy in Australia has already used these tools to help a 500-strong team review over nine million documents for a major remediation project \u2013 ultimately improving on its initial ambitious target of a 40% reduction in handling time.\n\u2022 A major UK consultancy had similar success using Document Intelligence to streamline its QA processes, empowering it to expand its managed services provision far beyond what was previously feasible." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fca-review-later-life-mortgages-qa-processes/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA\u2019s review of later life mortgage promotions find?", "acceptedAnswer": { "@type": "Answer", "text": "Almost 400 financial promotions were taken down or amended over \u2018misrepresentative content\u2019 \u2013 including inaccurate or misleading information, benefits highlighted without adequately explaining the risks, and firms using their \u2018FCA regulated\u2019 status as a promotional tool." } }, { "@type": "Question", "name": "What advice failings did the review identify?", "acceptedAnswer": { "@type": "Answer", "text": "Some firms failed to properly consider the borrower\u2019s income and expenditure, offered later life mortgages without assessing more suitable alternatives, or prioritised making sales over detailed, personalised and impartial advice." } }, { "@type": "Question", "name": "Why are later life mortgage customers more likely to be vulnerable?", "acceptedAnswer": { "@type": "Answer", "text": "The target market consists largely of older adults, a demographic who often carry a higher risk of vulnerability due to factors including lack of a regular income, health issues and social isolation." } }, { "@type": "Question", "name": "How can Document Intelligence help QA teams scale oversight without scaling costs?", "acceptedAnswer": { "@type": "Answer", "text": "It dates and classifies every document in a case file with a 95% accuracy rate, gives reviewers a consistent navigation view and summarises the whole case by review theme. Firms can then set aside the 95% of cases that show no issues and focus skilled people on the most critical ones." } } ] } ] } ``` ### Recordsure’s Conversation Intelligence shortlisted for ‘Best AI Product in Government’ at CogX Awards 2023 - URL: https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/ - Published: 2023-09-05 - Modified: 2023-09-05 **Topic:** CogX Awards 2023 Recordsure’s Conversation Intelligence has been shortlisted for ‘Best AI Product in Government’ at the CogX Awards 2023, for enabling a UK Government department to digitalise its interview process with a full record of every interaction. It provides a secure repository for more than 5,000 recordings every month, averaging savings of around 4.4 hours of interview time per case. #### Key points - Recordsure’s Conversation Intelligence was shortlisted for ‘Best AI Product in Government’, within the AI category of the 7th annual CogX Awards. - It helped a UK Government department digitalise its interview process, storing over 5,000 recordings a month and averaging savings of around 4.4 hours of interview time per case. - The award recognises GovTech that improves public interaction with government, reduces cost, enhances speed and reach, or focuses more resources on frontline services. - The CogX Festival – the world’s largest gathering of technology CEOs, entrepreneurs, academics and policy makers – expected more than 90,000 attendees over three days. We’re delighted to announce that our Conversation Intelligence platform has been shortlisted for the ‘Best AI Product in Government’ prize at this year’s CogX Awards! Held as part of the [CogX Festival](https://www.cogxfestival.com/) – the world’s largest gathering of technology CEOs, entrepreneurs, academics and policy makers – the [CogX Awards](https://www.cogx.live/awards) are intended to highlight the most impactful innovators spearheading technological advancement over the past 12 months. With more than 90,000 attendees expected over the three-day period, the event’s mission statement notes it aims to *“help society realise the biggest transformational opportunities of our time, address the many complex challenges along the way and work to answer the question: how do we get the next 10 years right?”* #### Best AI Product in Government Award The Best AI Product in Government title (within the AI category) serves to *“\[recognise\] the best GovTech product that improves public interaction with government through virtual assistants, redesigning public sector work by reducing cost, enhancing speed and reach, or focusing more resources on frontline services.”* Recordsure’s [Conversation Intelligence](/conversation-intelligence/) has been shortlisted for its GovTech, having enabled a [UK Government department](/case-studies/conversation-intelligence-uk-government-department/) to digitalise its interview process with a full record of high-quality recordings of every interaction. Providing a secure and reliable repository for more than 5,000 recordings every month, our AI-powered solution allows businesses to move away from slow manual processes and unlock significant cost and efficiency savings – averaging savings of around 4.4 hours of interview time per case. Recordsure’s platform is designed in close collaboration with leading language scientists and AI engineers. Our AI tools are leading the way in empowering human teams to do more – faster, smarter and more consistently – with the same resource. Recordsure CEO Joe Norburn said: > “We’re flattered to be recognised for our work at such a prestigious event. It’s a great testament to the transformative power of Recordsure’s solutions, bringing together smart tech with smart people to drive effectiveness and efficiencies for our clients.” #### The 7th annual CogX Awards A big congratulations to all nominated firms – we look forward to celebrating with everyone at the ceremony next week! The 7th annual CogX Awards is set to take place on the opening night of the event, which runs from 12th–14th September at London’s O2 Arena. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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It provides a secure repository for more than 5,000 recordings every month, averaging savings of around 4.4 hours of interview time per case.\n\nWe\u2019re delighted to announce that our Conversation Intelligence platform has been shortlisted for the \u2018Best AI Product in Government\u2019 prize at this year\u2019s CogX Awards!\n\nHeld as part of the CogX Festival \u2013 the world\u2019s largest gathering of technology CEOs, entrepreneurs, academics and policy makers \u2013 the CogX Awards are intended to highlight the most impactful innovators spearheading technological advancement over the past 12 months.\n\nWith more than 90,000 attendees expected over the three-day period, the event\u2019s mission statement notes it aims to \u201chelp society realise the biggest transformational opportunities of our time, address the many complex challenges along the way and work to answer the question: how do we get the next 10 years right?\u201d\n\nBest AI Product in Government Award\n\nThe Best AI Product in Government title (within the AI category) serves to \u201c[recognise] the best GovTech product that improves public interaction with government through virtual assistants, redesigning public sector work by reducing cost, enhancing speed and reach, or focusing more resources on frontline services.\u201d\n\nRecordsure\u2019s Conversation Intelligence has been shortlisted for its GovTech, having enabled a UK Government department to digitalise its interview process with a full record of high-quality recordings of every interaction.\n\nProviding a secure and reliable repository for more than 5,000 recordings every month, our AI-powered solution allows businesses to move away from slow manual processes and unlock significant cost and efficiency savings \u2013 averaging savings of around 4.4 hours of interview time per case.\n\nRecordsure\u2019s platform is designed in close collaboration with leading language scientists and AI engineers. Our AI tools are leading the way in empowering human teams to do more \u2013 faster, smarter and more consistently \u2013 with the same resource.\n\nRecordsure CEO Joe Norburn said:\n\n\u201cWe\u2019re flattered to be recognised for our work at such a prestigious event. It\u2019s a great testament to the transformative power of Recordsure\u2019s solutions, bringing together smart tech with smart people to drive effectiveness and efficiencies for our clients.\u201d\n\nThe 7th annual CogX Awards\n\nA big congratulations to all nominated firms \u2013 we look forward to celebrating with everyone at the ceremony next week!\n\nThe 7th annual CogX Awards is set to take place on the opening night of the event, which runs from 12th\u201314th September at London\u2019s O2 Arena.", "wordCount": 433, "keywords": [ "Government", "Insurance" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "CogX Awards 2023" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Insurance" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#webpage" }, "inLanguage": "en-GB", "text": "We\u2019re delighted to announce that our Conversation Intelligence platform has been shortlisted for the \u2018Best AI Product in Government\u2019 prize at this year\u2019s CogX Awards!\n\nHeld as part of the CogX Festival \u2013 the world\u2019s largest gathering of technology CEOs, entrepreneurs, academics and policy makers \u2013 the CogX Awards are intended to highlight the most impactful innovators spearheading technological advancement over the past 12 months.\n\nWith more than 90,000 attendees expected over the three-day period, the event\u2019s mission statement notes it aims to \u201chelp society realise the biggest transformational opportunities of our time, address the many complex challenges along the way and work to answer the question: how do we get the next 10 years right?\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#webpage" }, "inLanguage": "en-GB", "headline": "Best AI Product in Government Award", "text": "The Best AI Product in Government title (within the AI category) serves to \u201c[recognise] the best GovTech product that improves public interaction with government through virtual assistants, redesigning public sector work by reducing cost, enhancing speed and reach, or focusing more resources on frontline services.\u201d\n\nRecordsure\u2019s Conversation Intelligence has been shortlisted for its GovTech, having enabled a UK Government department to digitalise its interview process with a full record of high-quality recordings of every interaction.\n\nProviding a secure and reliable repository for more than 5,000 recordings every month, our AI-powered solution allows businesses to move away from slow manual processes and unlock significant cost and efficiency savings \u2013 averaging savings of around 4.4 hours of interview time per case.\n\nRecordsure\u2019s platform is designed in close collaboration with leading language scientists and AI engineers. Our AI tools are leading the way in empowering human teams to do more \u2013 faster, smarter and more consistently \u2013 with the same resource.\n\nRecordsure CEO Joe Norburn said:\n\n\u201cWe\u2019re flattered to be recognised for our work at such a prestigious event. It\u2019s a great testament to the transformative power of Recordsure\u2019s solutions, bringing together smart tech with smart people to drive effectiveness and efficiencies for our clients.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#webpage" }, "inLanguage": "en-GB", "headline": "The 7th annual CogX Awards", "text": "A big congratulations to all nominated firms \u2013 we look forward to celebrating with everyone at the ceremony next week!\n\nThe 7th annual CogX Awards is set to take place on the opening night of the event, which runs from 12th\u201314th September at London\u2019s O2 Arena." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-conversation-intelligence-best-ai-product-government-cogx-awards-2023/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the \u2018Best AI Product in Government\u2019 award recognise?", "acceptedAnswer": { "@type": "Answer", "text": "Within the AI category of the CogX Awards, it recognises the best GovTech product that improves public interaction with government through virtual assistants, redesigning public sector work by reducing cost, enhancing speed and reach, or focusing more resources on frontline services." } }, { "@type": "Question", "name": "Why was Conversation Intelligence shortlisted?", "acceptedAnswer": { "@type": "Answer", "text": "It enabled a UK Government department to digitalise its interview process with a full record of high-quality recordings of every interaction. It provides a secure and reliable repository for more than 5,000 recordings every month, averaging savings of around 4.4 hours of interview time per case." } } ] } ] } ``` ### War of the Words - URL: https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/ - Published: 2023-07-07 - Modified: 2023-07-07 **Topic:** Language AI 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 clients’ conversations and documents. #### Key points - ChatGPT captured public attention because it mimics human behaviour through language, yet such AI probably does not ‘understand’ information conveyed by language as humans do. - GPT stands for Generative Pre-trained Transformer; the Transformer model of 2017, by Ashish Vaswani et al, was the key recent breakthrough. - Recordsure chose not to use ChatGPT, not least because strict security policies stop clients’ conversations, transcripts and documents being handed to OpenAI. - Because clients need products that understand rather than generate content, Recordsure relies heavily on Transformer networks, run securely in its own chosen clouds. - Four directions to watch: Facebook’s LLaMA, open-source work shrinking LLMs, adaptable foundational models that keep your data private, and Google’s published innovations. ChatGPT and related AI developments have captivated the mainstream media and the public’s attention in recent months. In our guest post, we’re tackling the whats and whys. And who better than Recordsure’s Chief Technology Officer, Kit Ruparel, to look under the hood of the hype? Kit, who leads the innovation and technology teams that have made Recordsure’s unique concepts a reality, offers his compelling expert insight into the utility of the current generation of language AI. #### The language-science battleground *“No one would have believed, in the early years of the twenty-first century, that human affairs were being watched by the seemingly limitless compute of AI. No one could have dreamed that our words were being scrutinised as someone with a microscope studies creatures that swarm and multiply in a drop of water. Few people even considered the possibility of AI that learned to communicate.* *And yet, across the Gulf of Silicon Valley, wallets immeasurably superior to ours regarded our language with envious eyes, and slowly, and surely, they used our words against us…”* 2022 and 2023 will be remembered as the years that computational language science became mainstream – or, more precisely, as the years that ChatGPT entered the public consciousness, refocusing the vision for human-machine interaction. Despite previous attempts by companies and the media to generate excitement (or fear) about ‘Artificial Intelligence’, this was the development to date that has most resonated with the masses. In part, this was due to the utility of the product, as something that could answer questions and write copy for you. And whilst AI has seen previous mass utility in many areas, including internet search, GPS route-finding and online product recommendations, none of these has grabbed the public’s attention so immediately, nor held it for so long. #### To be human As many other applications over many decades have demonstrated, today’s computers can now do what was only dreamed possible by humans yesterday. The reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: *our language*. Language is implicitly intertwined with human culture and evolution – and, crucially, is the single most essential enabler in the progression of humankind. Language is used to store human knowledge, to represent it, and to rapidly communicate the information required for collaborative innovation. #### Does AI now ‘understand’ language? Probably not – at least not in the way that a human understands *information conveyed by language*. And for organisations looking to capitalise on either building products or using the slew of new AI technologies now available to them, distinctions like these are perhaps the most relevant aspects of such AI to fully appreciate. Let’s consider the component mechanisms of the ‘GPT’ family of technologies – the clues being in that abbreviation of ‘Generative Pre-trained Transformer’. #### In the beginning The first important aspect of that GPT apparatus, then, is the word ‘Generative’ – i.e. this class of technology is for *generating*, or creating, novel content such as responses to questions. The first chatbots described as ‘AI’ (or what AI was considered to be at the time) were developed in the 1960s, with machine learning aspects described even earlier, in the 1950s. However, it wasn’t until the more advanced ‘deep learning’ innovations of 2012 around image, speech and language AI using Convolutional Neural Networks – most notably by Geoffrey Hinton et al – and the invention in 2014 of Generative Adversarial Networks (Ian Goodfellow et al) that the form of the modern ‘generative chat’ AI that we see today started to take shape. Amongst the corporate behemoths, Google was the company that most immediately capitalised on such advances. It hired these esteemed fellows and many others out of academia – resulting, in 2017, in the most important recent breakthrough, which has led to many families of products: [Ashish Vaswani et al’s ‘Transformer model’](https://arxiv.org/abs/1706.03762)… as seen in the concluding letter of the GPT abbreviation. > The reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: *our language*. Under the covers, much of AI is focused on understanding the relationships between ‘things in a sequence’. In language science, those ‘things’ are words, and the ‘sequence’ is typically a sentence or a series of sentences. Transformers are essentially better and faster at learning the complex relationships between a greater number of things, in much longer sequences, than previous machine learning techniques. Once AI understands the relationships between things within sequences, it can be used to compare sequences of things with other sequences of things – or to predict what things are missing from a sequence. In the case of chatbots, answering your questions is essentially AI predicting what comes next in a sequence. Does this mean such AI now ‘understands’ what you are talking about? Probably not. However, such AI now does ‘understand’ – or at least is able to immediately recall and utilise – the relationships between words in language(s) as well as (or better than) most humans. As an aside, many of the Google-employed inventors and other scientists working in these areas of Generative AI and Transformers went on to be founding scientists at OpenAI, the creators of ChatGPT – so you can understand both the technology re-use and the naming convention in the GPT initialism! Google’s loss, Microsoft’s gain – Microsoft now being the primary backer behind OpenAI. #### On the horizon Let’s return, then, to the two important words here, ‘Generative’ and ‘Transformer’, and the product that made these topics dinner-table conversation: ChatGPT. I am regularly asked the following sequence of questions, to which the answers are generally along the lines that follow. **“Have you considered using ChatGPT within Recordsure’s technology?”** Well, no – not least because of the security angle. You can only use ChatGPT by giving your data to OpenAI for their ever-and-a-day ownership and use. And as with most sensible companies around the world, we have strict policies about not handing over either our own trade secrets or, more importantly, the conversations, transcripts and documents that belong to the banks, insurers, wealth managers and governments that are our clients! **“So, have you considered licensing GPT for in-house use in the Recordsure products?”** Again no, in part as OpenAI is very restrictive about who is allowed to run the latest versions of GPT itself (essentially, the answer is “only Microsoft”). And besides, we – and, more importantly, our clients – wouldn’t want to pay for the industrial-sized warehouse full of compute that would be needed to run it. **“So, have you considered using any technology like GPT in Recordsure’s technology?”** Well, the answer there is that we’ll take the Tonic but without the Gin, thank you very much! That is, to date, our clients have not brought us use cases for Generative AI – i.e. they don’t need us to create content, whether that be chatbot responses (there are plenty of those products on the market), document or meeting summaries, or AI-generated pictures of mermaids. #### The key is in the ‘T’ Our clients – and so our products – need to *understand* stuff, and that’s where Transformer AI comes into play. Thank you, Google, and the Transformer models that you’ve open-sourced for secure use in our own chosen clouds and datacentres: ***yes***, Recordsure technology relies heavily on Transformer networks and all that went before in terms of Convolutional and Recurrent Neural Networks and the like. And so, ***yes***, we’ve taken the bit of the ‘GPT’ innovations (conceived by minds immeasurably superior to ours) that is most relevant to our use cases and built upon it to create the product suite that is used by our clients today. However, with just the ‘T’ element, despite recent naming trends, we thought ‘RecordsureT’ didn’t have much of a ring to it, so we named our evolution for its utility instead – today, Conversation Intelligence and Document Intelligence. #### What’s next? **“So, what’s next for Recordsure?”** Roadmaps are a trade secret – especially how we plan to continue to advance the fields of document and speech AI ‘understanding’. Next question, please. **“OK, then what’s next for the industry as a whole in the GPT-like language area?”** No Recordsure trade secrets there – just plenty of publicly available content to regurgitate in a few points… and you can take any of the following as hints at our own product direction or not, as you please. ChatGPT kicked off a ‘War of the Words’ – or, more explicitly, a war between the corporate behemoths, as well as highly invested start-ups worldwide, over the size of their ‘Large Language Models’ (LLMs), as measured in ‘billions of parameters’. However, please know that size isn’t everything… anyone with basic Python development skills could create a ‘trillion parameter’ model tomorrow with enough compute – but that doesn’t mean it will do anything useful. Importantly, therefore, look for the application *utility*: how are companies using such LLMs, and how will the industry react in order to *qualitatively* measure their value? Then, whilst OpenAI – despite its name – remains a closed company with a proprietary product only usable on its Microsoft infrastructure, look instead to its competitors (and allies). In doing so, I’ll pick out four directions for your own research from amongst many. **Direction #1:** Facebook, by judgement or unluckiness, has released (partly had leaked!) its LLaMA family of technologies – and, following the leak, essentially gave up and gave over the suite to the development community. The rate of evolution by hackers around the world using both its LLaMA AI model and its component parts has been astronomical. **Direction #2:** And so, look further into the open-source industry: hackers and scientists everywhere are looking to reverse the direction of the billion-parameters war, *shrinking* the size of LLMs by dramatic ratios so you don’t need a private datacentre with a budget equivalent to the GDP of a small nation to train and operate them – yet often making claims of minimal compromise on quality. **Direction #3:** Then, look to those developments that are making use of ‘closed’ LLMs, redefining them as ‘Large Foundational Models’ (LFMs) – either by learning from them to behave as they do (e.g. Microsoft Orca), or by letting you adapt their output for your own utility, based on your own data… but only consider those that let you keep your data privately yours. **Direction #4:** Keep a watchful eye on the organisation where most language AI innovations have either occurred or been rapidly poached from academia. Whilst Google was beaten to the punch with its Bard product by ChatGPT, its innovations in the language AI domain, as well as with foundational machine learning technologies such as TensorFlow, have shaped much of the last eight years – and it has a habit of publishing much of what it invents for use by others. #### Guarding the future Finally, whilst I haven’t attempted to touch on the societal ethics and corporate responsibilities with regard to AI, if you would like to dip your toe into some objective and authoritative waters, I’d highly recommend starting with the Twitter feed of the esteemed [Professor Noah Giansiracusa](https://twitter.com/ProfNoahGian), whose ‘market-driven arms race’ metaphor in [one of his posts](https://twitter.com/ProfNoahGian/status/1616483967729020928?s=20) inspired the genre overlay for this article. Perhaps the same analogy could be applied to the plethora of smaller companies rushing ChatGPT and other buzzy-AI-based products out of the door – in order to climb the hype curve – without necessarily paying due regard to the ethical issues of privacy, bias or influence. #### Language innovation unleashed Large Language Models are in their industrial infancy, and it takes time to fork through the layers of fat hype – and the many, many buzzwords – to get to the meat of where the useful innovations actually reside. For a number of years now, Recordsure has used the most important technologies that underpin products such as ChatGPT to provide a valuable utility to our clients… and our plans are to continue such innovation by combining our own in-house Speech and Language AI expertise with the best of the science developed and published by others. *Images courtesy of Generative AI. No pictures of mermaids were harmed, nor copyright infringed, in the making of this blog post, other than the liberties taken with Jeff Wayne’s excellent adaptation of H.G. Wells’ ‘War of the Worlds’, and its opening monologue as originally recorded by Richard Burton.* #### Supporting sources - [Attention Is All You Need – Ashish Vaswani et al’s Transformer model paper (arXiv)](https://arxiv.org/abs/1706.03762) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Recordsure technology instead relies on the Transformer element of GPT, used securely in our own chosen clouds, to understand clients\u2019 conversations and documents.\n\nChatGPT and related AI developments have captivated the mainstream media and the public\u2019s attention in recent months. In our guest post, we\u2019re tackling the whats and whys.\n\nAnd who better than Recordsure\u2019s Chief Technology Officer, Kit Ruparel, to look under the hood of the hype?\n\nKit, who leads the innovation and technology teams that have made Recordsure\u2019s unique concepts a reality, offers his compelling expert insight into the utility of the current generation of language AI.\n\nThe language-science battleground\n\n\u201cNo one would have believed, in the early years of the twenty-first century, that human affairs were being watched by the seemingly limitless compute of AI. No one could have dreamed that our words were being scrutinised as someone with a microscope studies creatures that swarm and multiply in a drop of water. Few people even considered the possibility of AI that learned to communicate.\n\nAnd yet, across the Gulf of Silicon Valley, wallets immeasurably superior to ours regarded our language with envious eyes, and slowly, and surely, they used our words against us\u2026\u201d\n\n2022 and 2023 will be remembered as the years that computational language science became mainstream \u2013 or, more precisely, as the years that ChatGPT entered the public consciousness, refocusing the vision for human-machine interaction.\n\nDespite previous attempts by companies and the media to generate excitement (or fear) about \u2018Artificial Intelligence\u2019, this was the development to date that has most resonated with the masses.\n\nIn part, this was due to the utility of the product, as something that could answer questions and write copy for you. And whilst AI has seen previous mass utility in many areas, including internet search, GPS route-finding and online product recommendations, none of these has grabbed the public\u2019s attention so immediately, nor held it for so long.\n\nTo be human\n\nAs many other applications over many decades have demonstrated, today\u2019s computers can now do what was only dreamed possible by humans yesterday.\n\nThe reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: our language.\n\nLanguage is implicitly intertwined with human culture and evolution \u2013 and, crucially, is the single most essential enabler in the progression of humankind. Language is used to store human knowledge, to represent it, and to rapidly communicate the information required for collaborative innovation.\n\nDoes AI now \u2018understand\u2019 language?\n\nProbably not \u2013 at least not in the way that a human understands information conveyed by language.\n\nAnd for organisations looking to capitalise on either building products or using the slew of new AI technologies now available to them, distinctions like these are perhaps the most relevant aspects of such AI to fully appreciate.\n\nLet\u2019s consider the component mechanisms of the \u2018GPT\u2019 family of technologies \u2013 the clues being in that abbreviation of \u2018Generative Pre-trained Transformer\u2019.\n\nIn the beginning\n\nThe first important aspect of that GPT apparatus, then, is the word \u2018Generative\u2019 \u2013 i.e. this class of technology is for generating, or creating, novel content such as responses to questions.\n\nThe first chatbots described as \u2018AI\u2019 (or what AI was considered to be at the time) were developed in the 1960s, with machine learning aspects described even earlier, in the 1950s.\n\nHowever, it wasn\u2019t until the more advanced \u2018deep learning\u2019 innovations of 2012 around image, speech and language AI using Convolutional Neural Networks \u2013 most notably by Geoffrey Hinton et al \u2013 and the invention in 2014 of Generative Adversarial Networks (Ian Goodfellow et al) that the form of the modern \u2018generative chat\u2019 AI that we see today started to take shape.\n\nAmongst the corporate behemoths, Google was the company that most immediately capitalised on such advances. It hired these esteemed fellows and many others out of academia \u2013 resulting, in 2017, in the most important recent breakthrough, which has led to many families of products: Ashish Vaswani et al\u2019s \u2018Transformer model\u2019\u2026 as seen in the concluding letter of the GPT abbreviation.\n\nThe reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: our language.\n\nUnder the covers, much of AI is focused on understanding the relationships between \u2018things in a sequence\u2019. In language science, those \u2018things\u2019 are words, and the \u2018sequence\u2019 is typically a sentence or a series of sentences.\n\nTransformers are essentially better and faster at learning the complex relationships between a greater number of things, in much longer sequences, than previous machine learning techniques. Once AI understands the relationships between things within sequences, it can be used to compare sequences of things with other sequences of things \u2013 or to predict what things are missing from a sequence.\n\nIn the case of chatbots, answering your questions is essentially AI predicting what comes next in a sequence. Does this mean such AI now \u2018understands\u2019 what you are talking about? Probably not.\n\nHowever, such AI now does \u2018understand\u2019 \u2013 or at least is able to immediately recall and utilise \u2013 the relationships between words in language(s) as well as (or better than) most humans.\n\nAs an aside, many of the Google-employed inventors and other scientists working in these areas of Generative AI and Transformers went on to be founding scientists at OpenAI, the creators of ChatGPT \u2013 so you can understand both the technology re-use and the naming convention in the GPT initialism!\n\nGoogle\u2019s loss, Microsoft\u2019s gain \u2013 Microsoft now being the primary backer behind OpenAI.\n\nOn the horizon\n\nLet\u2019s return, then, to the two important words here, \u2018Generative\u2019 and \u2018Transformer\u2019, and the product that made these topics dinner-table conversation: ChatGPT.\n\nI am regularly asked the following sequence of questions, to which the answers are generally along the lines that follow.\n\n\u201cHave you considered using ChatGPT within Recordsure\u2019s technology?\u201d\n\nWell, no \u2013 not least because of the security angle.\n\nYou can only use ChatGPT by giving your data to OpenAI for their ever-and-a-day ownership and use. And as with most sensible companies around the world, we have strict policies about not handing over either our own trade secrets or, more importantly, the conversations, transcripts and documents that belong to the banks, insurers, wealth managers and governments that are our clients!\n\n\u201cSo, have you considered licensing GPT for in-house use in the Recordsure products?\u201d\n\nAgain no, in part as OpenAI is very restrictive about who is allowed to run the latest versions of GPT itself (essentially, the answer is \u201conly Microsoft\u201d).\n\nAnd besides, we \u2013 and, more importantly, our clients \u2013 wouldn\u2019t want to pay for the industrial-sized warehouse full of compute that would be needed to run it.\n\n\u201cSo, have you considered using any technology like GPT in Recordsure\u2019s technology?\u201d\n\nWell, the answer there is that we\u2019ll take the Tonic but without the Gin, thank you very much!\n\nThat is, to date, our clients have not brought us use cases for Generative AI \u2013 i.e. they don\u2019t need us to create content, whether that be chatbot responses (there are plenty of those products on the market), document or meeting summaries, or AI-generated pictures of mermaids.\n\nThe key is in the \u2018T\u2019\n\nOur clients \u2013 and so our products \u2013 need to understand stuff, and that\u2019s where Transformer AI comes into play.\n\nThank you, Google, and the Transformer models that you\u2019ve open-sourced for secure use in our own chosen clouds and datacentres: yes, Recordsure technology relies heavily on Transformer networks and all that went before in terms of Convolutional and Recurrent Neural Networks and the like.\n\nAnd so, yes, we\u2019ve taken the bit of the \u2018GPT\u2019 innovations (conceived by minds immeasurably superior to ours) that is most relevant to our use cases and built upon it to create the product suite that is used by our clients today.\n\nHowever, with just the \u2018T\u2019 element, despite recent naming trends, we thought \u2018RecordsureT\u2019 didn\u2019t have much of a ring to it, so we named our evolution for its utility instead \u2013 today, Conversation Intelligence and Document Intelligence.\n\nWhat\u2019s next?\n\n\u201cSo, what\u2019s next for Recordsure?\u201d\n\nRoadmaps are a trade secret \u2013 especially how we plan to continue to advance the fields of document and speech AI \u2018understanding\u2019. Next question, please.\n\n\u201cOK, then what\u2019s next for the industry as a whole in the GPT-like language area?\u201d\n\nNo Recordsure trade secrets there \u2013 just plenty of publicly available content to regurgitate in a few points\u2026 and you can take any of the following as hints at our own product direction or not, as you please.\n\nChatGPT kicked off a \u2018War of the Words\u2019 \u2013 or, more explicitly, a war between the corporate behemoths, as well as highly invested start-ups worldwide, over the size of their \u2018Large Language Models\u2019 (LLMs), as measured in \u2018billions of parameters\u2019.\n\nHowever, please know that size isn\u2019t everything\u2026 anyone with basic Python development skills could create a \u2018trillion parameter\u2019 model tomorrow with enough compute \u2013 but that doesn\u2019t mean it will do anything useful.\n\nImportantly, therefore, look for the application utility: how are companies using such LLMs, and how will the industry react in order to qualitatively measure their value?\n\nThen, whilst OpenAI \u2013 despite its name \u2013 remains a closed company with a proprietary product only usable on its Microsoft infrastructure, look instead to its competitors (and allies). In doing so, I\u2019ll pick out four directions for your own research from amongst many.\n\nDirection #1: Facebook, by judgement or unluckiness, has released (partly had leaked!) its LLaMA family of technologies \u2013 and, following the leak, essentially gave up and gave over the suite to the development community. The rate of evolution by hackers around the world using both its LLaMA AI model and its component parts has been astronomical.\n\nDirection #2: And so, look further into the open-source industry: hackers and scientists everywhere are looking to reverse the direction of the billion-parameters war, shrinking the size of LLMs by dramatic ratios so you don\u2019t need a private datacentre with a budget equivalent to the GDP of a small nation to train and operate them \u2013 yet often making claims of minimal compromise on quality.\n\nDirection #3: Then, look to those developments that are making use of \u2018closed\u2019 LLMs, redefining them as \u2018Large Foundational Models\u2019 (LFMs) \u2013 either by learning from them to behave as they do (e.g. Microsoft Orca), or by letting you adapt their output for your own utility, based on your own data\u2026 but only consider those that let you keep your data privately yours.\n\nDirection #4: Keep a watchful eye on the organisation where most language AI innovations have either occurred or been rapidly poached from academia. Whilst Google was beaten to the punch with its Bard product by ChatGPT, its innovations in the language AI domain, as well as with foundational machine learning technologies such as TensorFlow, have shaped much of the last eight years \u2013 and it has a habit of publishing much of what it invents for use by others.\n\nGuarding the future\n\nFinally, whilst I haven\u2019t attempted to touch on the societal ethics and corporate responsibilities with regard to AI, if you would like to dip your toe into some objective and authoritative waters, I\u2019d highly recommend starting with the Twitter feed of the esteemed Professor Noah Giansiracusa, whose \u2018market-driven arms race\u2019 metaphor in one of his posts inspired the genre overlay for this article.\n\nPerhaps the same analogy could be applied to the plethora of smaller companies rushing ChatGPT and other buzzy-AI-based products out of the door \u2013 in order to climb the hype curve \u2013 without necessarily paying due regard to the ethical issues of privacy, bias or influence.\n\nLanguage innovation unleashed\n\nLarge Language Models are in their industrial infancy, and it takes time to fork through the layers of fat hype \u2013 and the many, many buzzwords \u2013 to get to the meat of where the useful innovations actually reside.\n\nFor a number of years now, Recordsure has used the most important technologies that underpin products such as ChatGPT to provide a valuable utility to our clients\u2026 and our plans are to continue such innovation by combining our own in-house Speech and Language AI expertise with the best of the science developed and published by others.\n\nImages courtesy of Generative AI. No pictures of mermaids were harmed, nor copyright infringed, in the making of this blog post, other than the liberties taken with Jeff Wayne\u2019s excellent adaptation of H.G. Wells\u2019 \u2018War of the Worlds\u2019, and its opening monologue as originally recorded by Richard Burton.", "wordCount": 2148, "keywords": [ "Banking", "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Language AI" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-8" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-9" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-10" } ], "citation": [ { "@type": "CreativeWork", "name": "Attention Is All You Need \u2013 Ashish Vaswani et al\u2019s Transformer model paper (arXiv)", "url": "https://arxiv.org/abs/1706.03762" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "text": "ChatGPT and related AI developments have captivated the mainstream media and the public\u2019s attention in recent months. In our guest post, we\u2019re tackling the whats and whys.\n\nAnd who better than Recordsure\u2019s Chief Technology Officer, Kit Ruparel, to look under the hood of the hype?\n\nKit, who leads the innovation and technology teams that have made Recordsure\u2019s unique concepts a reality, offers his compelling expert insight into the utility of the current generation of language AI." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "The language-science battleground", "text": "\u201cNo one would have believed, in the early years of the twenty-first century, that human affairs were being watched by the seemingly limitless compute of AI. No one could have dreamed that our words were being scrutinised as someone with a microscope studies creatures that swarm and multiply in a drop of water. Few people even considered the possibility of AI that learned to communicate.\n\nAnd yet, across the Gulf of Silicon Valley, wallets immeasurably superior to ours regarded our language with envious eyes, and slowly, and surely, they used our words against us\u2026\u201d\n\n2022 and 2023 will be remembered as the years that computational language science became mainstream \u2013 or, more precisely, as the years that ChatGPT entered the public consciousness, refocusing the vision for human-machine interaction.\n\nDespite previous attempts by companies and the media to generate excitement (or fear) about \u2018Artificial Intelligence\u2019, this was the development to date that has most resonated with the masses.\n\nIn part, this was due to the utility of the product, as something that could answer questions and write copy for you. And whilst AI has seen previous mass utility in many areas, including internet search, GPS route-finding and online product recommendations, none of these has grabbed the public\u2019s attention so immediately, nor held it for so long." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "To be human", "text": "As many other applications over many decades have demonstrated, today\u2019s computers can now do what was only dreamed possible by humans yesterday.\n\nThe reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: our language.\n\nLanguage is implicitly intertwined with human culture and evolution \u2013 and, crucially, is the single most essential enabler in the progression of humankind. Language is used to store human knowledge, to represent it, and to rapidly communicate the information required for collaborative innovation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "Does AI now \u2018understand\u2019 language?", "text": "Probably not \u2013 at least not in the way that a human understands information conveyed by language.\n\nAnd for organisations looking to capitalise on either building products or using the slew of new AI technologies now available to them, distinctions like these are perhaps the most relevant aspects of such AI to fully appreciate.\n\nLet\u2019s consider the component mechanisms of the \u2018GPT\u2019 family of technologies \u2013 the clues being in that abbreviation of \u2018Generative Pre-trained Transformer\u2019." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "In the beginning", "text": "The first important aspect of that GPT apparatus, then, is the word \u2018Generative\u2019 \u2013 i.e. this class of technology is for generating, or creating, novel content such as responses to questions.\n\nThe first chatbots described as \u2018AI\u2019 (or what AI was considered to be at the time) were developed in the 1960s, with machine learning aspects described even earlier, in the 1950s.\n\nHowever, it wasn\u2019t until the more advanced \u2018deep learning\u2019 innovations of 2012 around image, speech and language AI using Convolutional Neural Networks \u2013 most notably by Geoffrey Hinton et al \u2013 and the invention in 2014 of Generative Adversarial Networks (Ian Goodfellow et al) that the form of the modern \u2018generative chat\u2019 AI that we see today started to take shape.\n\nAmongst the corporate behemoths, Google was the company that most immediately capitalised on such advances. It hired these esteemed fellows and many others out of academia \u2013 resulting, in 2017, in the most important recent breakthrough, which has led to many families of products: Ashish Vaswani et al\u2019s \u2018Transformer model\u2019\u2026 as seen in the concluding letter of the GPT abbreviation.\n\nThe reason that ChatGPT and its rapidly evolving competitors have continued to both dominate headlines, and to change the narrative at a geopolitical level, is because this branch of AI mimics human behaviour using the most emotive delineator of our species: our language.\n\nUnder the covers, much of AI is focused on understanding the relationships between \u2018things in a sequence\u2019. In language science, those \u2018things\u2019 are words, and the \u2018sequence\u2019 is typically a sentence or a series of sentences.\n\nTransformers are essentially better and faster at learning the complex relationships between a greater number of things, in much longer sequences, than previous machine learning techniques. Once AI understands the relationships between things within sequences, it can be used to compare sequences of things with other sequences of things \u2013 or to predict what things are missing from a sequence.\n\nIn the case of chatbots, answering your questions is essentially AI predicting what comes next in a sequence. Does this mean such AI now \u2018understands\u2019 what you are talking about? Probably not.\n\nHowever, such AI now does \u2018understand\u2019 \u2013 or at least is able to immediately recall and utilise \u2013 the relationships between words in language(s) as well as (or better than) most humans.\n\nAs an aside, many of the Google-employed inventors and other scientists working in these areas of Generative AI and Transformers went on to be founding scientists at OpenAI, the creators of ChatGPT \u2013 so you can understand both the technology re-use and the naming convention in the GPT initialism!\n\nGoogle\u2019s loss, Microsoft\u2019s gain \u2013 Microsoft now being the primary backer behind OpenAI." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "On the horizon", "text": "Let\u2019s return, then, to the two important words here, \u2018Generative\u2019 and \u2018Transformer\u2019, and the product that made these topics dinner-table conversation: ChatGPT.\n\nI am regularly asked the following sequence of questions, to which the answers are generally along the lines that follow.\n\n\u201cHave you considered using ChatGPT within Recordsure\u2019s technology?\u201d\n\nWell, no \u2013 not least because of the security angle.\n\nYou can only use ChatGPT by giving your data to OpenAI for their ever-and-a-day ownership and use. And as with most sensible companies around the world, we have strict policies about not handing over either our own trade secrets or, more importantly, the conversations, transcripts and documents that belong to the banks, insurers, wealth managers and governments that are our clients!\n\n\u201cSo, have you considered licensing GPT for in-house use in the Recordsure products?\u201d\n\nAgain no, in part as OpenAI is very restrictive about who is allowed to run the latest versions of GPT itself (essentially, the answer is \u201conly Microsoft\u201d).\n\nAnd besides, we \u2013 and, more importantly, our clients \u2013 wouldn\u2019t want to pay for the industrial-sized warehouse full of compute that would be needed to run it.\n\n\u201cSo, have you considered using any technology like GPT in Recordsure\u2019s technology?\u201d\n\nWell, the answer there is that we\u2019ll take the Tonic but without the Gin, thank you very much!\n\nThat is, to date, our clients have not brought us use cases for Generative AI \u2013 i.e. they don\u2019t need us to create content, whether that be chatbot responses (there are plenty of those products on the market), document or meeting summaries, or AI-generated pictures of mermaids." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "The key is in the \u2018T\u2019", "text": "Our clients \u2013 and so our products \u2013 need to understand stuff, and that\u2019s where Transformer AI comes into play.\n\nThank you, Google, and the Transformer models that you\u2019ve open-sourced for secure use in our own chosen clouds and datacentres: yes, Recordsure technology relies heavily on Transformer networks and all that went before in terms of Convolutional and Recurrent Neural Networks and the like.\n\nAnd so, yes, we\u2019ve taken the bit of the \u2018GPT\u2019 innovations (conceived by minds immeasurably superior to ours) that is most relevant to our use cases and built upon it to create the product suite that is used by our clients today.\n\nHowever, with just the \u2018T\u2019 element, despite recent naming trends, we thought \u2018RecordsureT\u2019 didn\u2019t have much of a ring to it, so we named our evolution for its utility instead \u2013 today, Conversation Intelligence and Document Intelligence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s next?", "text": "\u201cSo, what\u2019s next for Recordsure?\u201d\n\nRoadmaps are a trade secret \u2013 especially how we plan to continue to advance the fields of document and speech AI \u2018understanding\u2019. Next question, please.\n\n\u201cOK, then what\u2019s next for the industry as a whole in the GPT-like language area?\u201d\n\nNo Recordsure trade secrets there \u2013 just plenty of publicly available content to regurgitate in a few points\u2026 and you can take any of the following as hints at our own product direction or not, as you please.\n\nChatGPT kicked off a \u2018War of the Words\u2019 \u2013 or, more explicitly, a war between the corporate behemoths, as well as highly invested start-ups worldwide, over the size of their \u2018Large Language Models\u2019 (LLMs), as measured in \u2018billions of parameters\u2019.\n\nHowever, please know that size isn\u2019t everything\u2026 anyone with basic Python development skills could create a \u2018trillion parameter\u2019 model tomorrow with enough compute \u2013 but that doesn\u2019t mean it will do anything useful.\n\nImportantly, therefore, look for the application utility: how are companies using such LLMs, and how will the industry react in order to qualitatively measure their value?\n\nThen, whilst OpenAI \u2013 despite its name \u2013 remains a closed company with a proprietary product only usable on its Microsoft infrastructure, look instead to its competitors (and allies). In doing so, I\u2019ll pick out four directions for your own research from amongst many.\n\nDirection #1: Facebook, by judgement or unluckiness, has released (partly had leaked!) its LLaMA family of technologies \u2013 and, following the leak, essentially gave up and gave over the suite to the development community. The rate of evolution by hackers around the world using both its LLaMA AI model and its component parts has been astronomical.\n\nDirection #2: And so, look further into the open-source industry: hackers and scientists everywhere are looking to reverse the direction of the billion-parameters war, shrinking the size of LLMs by dramatic ratios so you don\u2019t need a private datacentre with a budget equivalent to the GDP of a small nation to train and operate them \u2013 yet often making claims of minimal compromise on quality.\n\nDirection #3: Then, look to those developments that are making use of \u2018closed\u2019 LLMs, redefining them as \u2018Large Foundational Models\u2019 (LFMs) \u2013 either by learning from them to behave as they do (e.g. Microsoft Orca), or by letting you adapt their output for your own utility, based on your own data\u2026 but only consider those that let you keep your data privately yours.\n\nDirection #4: Keep a watchful eye on the organisation where most language AI innovations have either occurred or been rapidly poached from academia. Whilst Google was beaten to the punch with its Bard product by ChatGPT, its innovations in the language AI domain, as well as with foundational machine learning technologies such as TensorFlow, have shaped much of the last eight years \u2013 and it has a habit of publishing much of what it invents for use by others." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-9", "position": 9, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "Guarding the future", "text": "Finally, whilst I haven\u2019t attempted to touch on the societal ethics and corporate responsibilities with regard to AI, if you would like to dip your toe into some objective and authoritative waters, I\u2019d highly recommend starting with the Twitter feed of the esteemed Professor Noah Giansiracusa, whose \u2018market-driven arms race\u2019 metaphor in one of his posts inspired the genre overlay for this article.\n\nPerhaps the same analogy could be applied to the plethora of smaller companies rushing ChatGPT and other buzzy-AI-based products out of the door \u2013 in order to climb the hype curve \u2013 without necessarily paying due regard to the ethical issues of privacy, bias or influence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#analysis-10", "position": 10, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "headline": "Language innovation unleashed", "text": "Large Language Models are in their industrial infancy, and it takes time to fork through the layers of fat hype \u2013 and the many, many buzzwords \u2013 to get to the meat of where the useful innovations actually reside.\n\nFor a number of years now, Recordsure has used the most important technologies that underpin products such as ChatGPT to provide a valuable utility to our clients\u2026 and our plans are to continue such innovation by combining our own in-house Speech and Language AI expertise with the best of the science developed and published by others.\n\nImages courtesy of Generative AI. No pictures of mermaids were harmed, nor copyright infringed, in the making of this blog post, other than the liberties taken with Jeff Wayne\u2019s excellent adaptation of H.G. Wells\u2019 \u2018War of the Worlds\u2019, and its opening monologue as originally recorded by Richard Burton." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/war-of-the-words/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Can AI such as ChatGPT really understand language?", "acceptedAnswer": { "@type": "Answer", "text": "Probably not in the way a human understands information conveyed by language. However, it can immediately recall and utilise the relationships between words as well as, or better than, most humans." } }, { "@type": "Question", "name": "Why has Recordsure not used ChatGPT?", "acceptedAnswer": { "@type": "Answer", "text": "Not least because of security: using ChatGPT means giving your data to OpenAI, and we have strict policies against handing over our own trade secrets or our clients\u2019 conversations, transcripts and documents." } }, { "@type": "Question", "name": "What does GPT stand for?", "acceptedAnswer": { "@type": "Answer", "text": "Generative Pre-trained Transformer. \u2018Generative\u2019 means creating novel content, while the Transformer model, from Ashish Vaswani et al in 2017, is better and faster at learning relationships between things in long sequences." } }, { "@type": "Question", "name": "How does Recordsure use Transformer technology?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure technology relies heavily on Transformer networks, used securely in our own chosen clouds and datacentres, because our clients need products that understand content rather than create it." } }, { "@type": "Question", "name": "Which developments in language AI are worth watching?", "acceptedAnswer": { "@type": "Answer", "text": "Facebook\u2019s LLaMA family, open-source efforts to shrink LLMs, \u2018Large Foundational Models\u2019 you can adapt to your own data while keeping it private, and Google\u2019s continuing language AI innovations." } } ] } ] } ``` ### Tech focus: Why is Document Intelligence the answer to Consumer Duty challenges? - URL: https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/ - Published: 2023-06-06 - Modified: 2026-10-09 **Topic:** Document Intelligence 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. #### Key points - Consumer Duty makes consistently high standards across the advice lifecycle a governance priority. - Document Intelligence is designed to improve the efficiency and quality of call, meeting and document reviews. - Risk-based review helps firms move beyond random sampling as Consumer Duty expectations rise. From 31st July, business leaders will no longer simply be tasked with carrying out periodic suitability checks. Under this new framework, their regulatory remit will also hold them directly accountable for ensuring consistently high standards in the way customers are informed and supported throughout the entire advice lifecycle. So, it’s clear the bar for sufficient process oversight is set to rise significantly in the coming months. And as such, the ability for firms to increase the scope, frequency and reliability of their file and communications reviews is going to be central to satisfying FCA requirements in a post-Consumer Duty world. But how can leaders manage this inflated workload without greatly expanding the size of their compliance teams or budget allocation? #### Introducing Document Intelligence: Automated RegTech for next-generation oversight Recordsure’s Document Intelligence suite of Machine Learning-enabled analytics platforms have been specifically designed to improve both the efficiency and quality of call and meeting reviews, whilst also enabling streamlined compliance checks of text-based documents. As [Kit Ruparel](/meet-the-team/), Recordsure’s Chief Technology Officer, explains: “Traditionally, file reviews have been entirely manual – whilst, at-most, simple ‘keyword spotting’ based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted. “Recordsure has addressed this challenge with a suite of AI tools that have been proven to automatically route cases and calls that are most at risk from poor conduct to the QA teams, as well as to make comprehensive reviews over 50% more efficient.” #### Why are Document Intelligence’s Machine Learning abilities so critical? What sets our Document Intelligence suite apart from the crowd is the use of Machine Learning technology. Where many legacy systems simply score cases or trigger business rules based on matching key words or phrases, our platforms take the principle of automating high-volume file reviews to the next level. Using sophisticated neural network techniques trained on hundreds-of-thousands of real-word financial documents and audio conversations, Document Intelligence has been trained to emulate the activities of real QA and file review staff – enabling it to assess your documents and meeting recordings in the very same way a human would. Traditionally, file reviews have been entirely manual – whilst, at-most, simple ‘keyword spotting’ based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted. Kit Ruparel, Chief Technology Officer, Recordsure This next-generation intelligence means that high-risk cases are flagged with an accuracy rate greater than 90% – an order of magnitude higher than traditional techniques – whilst bringing ‘false positive’ alerts down to the bare minimum. And not only that: our products are purpose-trained by SMEs, as opposed to being configured by engineers who may be less familiar with the particulars of regulation and best practice – which has the advantage of further reducing inaccuracies and instances of human error. In fact, our Machine Learning platforms learn as they go by learning lessons from real reviewers simply doing their day job! #### Document Intelligence: Tech-driven efficiencies for Consumer Duty and beyond Aside from the obvious pre- and post-sale review benefits, Document Intelligence’s proven benefits and adaptable nature have also seen it used to automatically triage in-or-out cases and calls in past business reviews. And beyond that: our platforms have been approved for use in compliance exercises by regulatory bodies in both the UK and Australia, enabling remediation exercises to be achieved at five times the speed of wholly manual reviews, while retaining the same attention to detail afforded by human input. With the Consumer Duty now just around the corner, there’s never been a better time to move away from random sampling towards a targeted, risk-based approach to oversight. Are you ready to discover how 100% oversight of your customer interactions can maximise your team’s productivity – and help you reach your long-term compliance goals? > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Document Intelligence helps firms increase review scope, frequency and reliability without simply expanding compliance teams.\n\nFrom 31st July, business leaders will no longer simply be tasked with carrying out periodic suitability checks. Under this new framework, their regulatory remit will also hold them directly accountable for ensuring consistently high standards in the way customers are informed and supported throughout the entire advice lifecycle.\n\nSo, it\u2019s clear the bar for sufficient process oversight is set to rise significantly in the coming months.\n\nAnd as such, the ability for firms to increase the scope, frequency and reliability of their file and communications reviews is going to be central to satisfying FCA requirements in a post-Consumer Duty world.\n\nBut how can leaders manage this inflated workload without greatly expanding the size of their compliance teams or budget allocation?\n\nIntroducing Document Intelligence: Automated RegTech for next-generation oversight\n\nRecordsure\u2019s Document Intelligence suite of Machine Learning-enabled analytics platforms have been specifically designed to improve both the efficiency and quality of call and meeting reviews, whilst also enabling streamlined compliance checks of text-based documents.\n\nAs Kit Ruparel, Recordsure\u2019s Chief Technology Officer, explains:\n\n\u201cTraditionally, file reviews have been entirely manual \u2013 whilst, at-most, simple \u2018keyword spotting\u2019 based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted.\n\n\u201cRecordsure has addressed this challenge with a suite of AI tools that have been proven to automatically route cases and calls that are most at risk from poor conduct to the QA teams, as well as to make comprehensive reviews over 50% more efficient.\u201d\n\nWhy are Document Intelligence\u2019s Machine Learning abilities so critical?\n\nWhat sets our Document Intelligence suite apart from the crowd is the use of Machine Learning technology.\n\nWhere many legacy systems simply score cases or trigger business rules based on matching key words or phrases, our platforms take the principle of automating high-volume file reviews to the next level.\n\nUsing sophisticated neural network techniques trained on hundreds-of-thousands of real-word financial documents and audio conversations, Document Intelligence has been trained to emulate the activities of real QA and file review staff \u2013 enabling it to assess your documents and meeting recordings in the very same way a human would.\n\nTraditionally, file reviews have been entirely manual \u2013 whilst, at-most, simple \u2018keyword spotting\u2019 based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted. Kit Ruparel, Chief Technology Officer, Recordsure\n\nThis next-generation intelligence means that high-risk cases are flagged with an accuracy rate greater than 90% \u2013 an order of magnitude higher than traditional techniques \u2013 whilst bringing \u2018false positive\u2019 alerts down to the bare minimum.\n\nAnd not only that: our products are purpose-trained by SMEs, as opposed to being configured by engineers who may be less familiar with the particulars of regulation and best practice \u2013 which has the advantage of further reducing inaccuracies and instances of human error.\n\nIn fact, our Machine Learning platforms learn as they go by learning lessons from real reviewers simply doing their day job!\n\nDocument Intelligence: Tech-driven efficiencies for Consumer Duty and beyond\n\nAside from the obvious pre- and post-sale review benefits, Document Intelligence\u2019s proven benefits and adaptable nature have also seen it used to automatically triage in-or-out cases and calls in past business reviews.\n\nAnd beyond that: our platforms have been approved for use in compliance exercises by regulatory bodies in both the UK and Australia, enabling remediation exercises to be achieved at five times the speed of wholly manual reviews, while retaining the same attention to detail afforded by human input.\n\nWith the Consumer Duty now just around the corner, there\u2019s never been a better time to move away from random sampling towards a targeted, risk-based approach to oversight.\n\nAre you ready to discover how 100% oversight of your customer interactions can maximise your team\u2019s productivity \u2013 and help you reach your long-term compliance goals?", "wordCount": 695, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Document Intelligence" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#webpage" }, "inLanguage": "en-GB", "text": "From 31st July, business leaders will no longer simply be tasked with carrying out periodic suitability checks. Under this new framework, their regulatory remit will also hold them directly accountable for ensuring consistently high standards in the way customers are informed and supported throughout the entire advice lifecycle.\n\nSo, it\u2019s clear the bar for sufficient process oversight is set to rise significantly in the coming months.\n\nAnd as such, the ability for firms to increase the scope, frequency and reliability of their file and communications reviews is going to be central to satisfying FCA requirements in a post-Consumer Duty world.\n\nBut how can leaders manage this inflated workload without greatly expanding the size of their compliance teams or budget allocation?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#webpage" }, "inLanguage": "en-GB", "headline": "Introducing Document Intelligence: Automated RegTech for next-generation oversight", "text": "Recordsure\u2019s Document Intelligence suite of Machine Learning-enabled analytics platforms have been specifically designed to improve both the efficiency and quality of call and meeting reviews, whilst also enabling streamlined compliance checks of text-based documents.\n\nAs Kit Ruparel, Recordsure\u2019s Chief Technology Officer, explains:\n\n\u201cTraditionally, file reviews have been entirely manual \u2013 whilst, at-most, simple \u2018keyword spotting\u2019 based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted.\n\n\u201cRecordsure has addressed this challenge with a suite of AI tools that have been proven to automatically route cases and calls that are most at risk from poor conduct to the QA teams, as well as to make comprehensive reviews over 50% more efficient.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#webpage" }, "inLanguage": "en-GB", "headline": "Why are Document Intelligence\u2019s Machine Learning abilities so critical?", "text": "What sets our Document Intelligence suite apart from the crowd is the use of Machine Learning technology.\n\nWhere many legacy systems simply score cases or trigger business rules based on matching key words or phrases, our platforms take the principle of automating high-volume file reviews to the next level.\n\nUsing sophisticated neural network techniques trained on hundreds-of-thousands of real-word financial documents and audio conversations, Document Intelligence has been trained to emulate the activities of real QA and file review staff \u2013 enabling it to assess your documents and meeting recordings in the very same way a human would.\n\nTraditionally, file reviews have been entirely manual \u2013 whilst, at-most, simple \u2018keyword spotting\u2019 based speech analytics has been used to assist in reviewing recorded conversations. And up until now, this has left firms little option but to scale their QA teams in line with the volume of business transacted. Kit Ruparel, Chief Technology Officer, Recordsure\n\nThis next-generation intelligence means that high-risk cases are flagged with an accuracy rate greater than 90% \u2013 an order of magnitude higher than traditional techniques \u2013 whilst bringing \u2018false positive\u2019 alerts down to the bare minimum.\n\nAnd not only that: our products are purpose-trained by SMEs, as opposed to being configured by engineers who may be less familiar with the particulars of regulation and best practice \u2013 which has the advantage of further reducing inaccuracies and instances of human error.\n\nIn fact, our Machine Learning platforms learn as they go by learning lessons from real reviewers simply doing their day job!" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#webpage" }, "inLanguage": "en-GB", "headline": "Document Intelligence: Tech-driven efficiencies for Consumer Duty and beyond", "text": "Aside from the obvious pre- and post-sale review benefits, Document Intelligence\u2019s proven benefits and adaptable nature have also seen it used to automatically triage in-or-out cases and calls in past business reviews.\n\nAnd beyond that: our platforms have been approved for use in compliance exercises by regulatory bodies in both the UK and Australia, enabling remediation exercises to be achieved at five times the speed of wholly manual reviews, while retaining the same attention to detail afforded by human input.\n\nWith the Consumer Duty now just around the corner, there\u2019s never been a better time to move away from random sampling towards a targeted, risk-based approach to oversight.\n\nAre you ready to discover how 100% oversight of your customer interactions can maximise your team\u2019s productivity \u2013 and help you reach your long-term compliance goals?" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-document-intelligence-is-the-answer-to-consumer-duty-challenges/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does Consumer Duty increase review demands?", "acceptedAnswer": { "@type": "Answer", "text": "It makes leaders directly accountable for high standards in how customers are informed and supported throughout the advice lifecycle." } }, { "@type": "Question", "name": "What does Document Intelligence review?", "acceptedAnswer": { "@type": "Answer", "text": "Document Intelligence supports reviews of calls, meetings, recorded conversations and text-based documents." } }, { "@type": "Question", "name": "How does Document Intelligence differ from keyword matching?", "acceptedAnswer": { "@type": "Answer", "text": "It uses Machine Learning trained on financial documents and audio conversations rather than relying only on keyword or phrase matching." } }, { "@type": "Question", "name": "What efficiency claim is made for Document Intelligence?", "acceptedAnswer": { "@type": "Answer", "text": "Comprehensive reviews can be made over 50% more efficient, and remediation exercises can be achieved at five times the speed of wholly manual reviews." } } ] } ] } ``` ### Recordsure and TCC recognised for RegTech Innovation at FinTech Breakthrough Awards 2023 - URL: https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/ - Published: 2023-03-23 - Modified: 2026-10-09 **Topic:** RegTech innovation Recordsure and TCC won the RegTech Innovation Award at the FinTech Breakthrough Awards 2023. The award recognises regulatory technology that has pushed boundaries through technology-enabled solutions. #### Key points - Recordsure and TCC jointly won the RegTech Innovation Award in 2023. - The award is one of five prizes in the programme’s RegTech category. - Judges assess innovation, performance, ease of use, functionality, value and impact. - The win followed Recordsure’s Best RegTech Company award the previous year. - Joanne Smith was also recognised on the Women in FinTech Powerlist. We’re excited to share that we’ve been chosen as joint winners, alongside our sister company TCC, of the RegTech Innovation Award at the FinTech Breakthrough Awards 2023! One of five prizes given under programme’s RegTech category, the RegTech Innovation award highlights the business that the judging panel – comprising technical, business, academic and marketing specialists – deems to have pushed the boundaries of regulatory technology by providing truly disruptive, tech-enabled solutions over the past year. The assessment criteria includes metrics such as degree of innovation, performance, ease of use, functionality, value and overall impact. Commenting on the joint award, Recordsure and [TCC Group](https://tcc.group/) CEO Joe Norburn said: “We, Recordsure & TCC, are proud to bring together smart people and smart technologies. To see the incredible collaborative efforts of both companies recognised, for a second year running, by the FinTech Breakthrough team is a fantastic achievement for us.” Recordsure and TCC unite regulatory expertise with state-of-the-art AI technologies, to offer intelligent insights and MI. Our Intelligent Compliance approach to solving regulatory challenges allows our clients to be more effective and efficient in what they do. Joe explains: “By combining Recordsure’s AI-powered analytics suites with TCC’s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector’s biggest regulatory challenges. “And our clients are seeing the significant impact of this comprehensive strategy, benefitting from both the experience of our smart people and the efficiencies of our smart tech.” This announcement represents a second consecutive year of wins for Recordsure, having previously taken home the title of [Best RegTech Company](/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/) at last year’s ceremony. Established in 2016 by market intelligence firm [Tech Breakthrough](https://techbreakthrough.com/), the [FinTech Breakthrough Awards](https://fintechbreakthrough.com/) have grown to become one of the most hotly anticipated listings in the tech sphere. And not only that: the awards’ focus on innovation and overcoming process roadblocks via new technologies have given them an added prescience in recent years, following the pandemic’s acceleration of digital transformation across almost every area of the global economy. By combining Recordsure’s AI-powered analytics suites with TCC’s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector’s biggest regulatory challenges. Joe Norburn, Group CEO, Recordsure & TCC Amid the widespread adoption of digital channels and the rapid rise of FinTech within the financial services arena, the FinTech Breakthrough Awards serve to champion the companies at the forefront of addressing the challenges – and harnessing the opportunities – presented by the ‘new normal’. This exciting award is the second FinTech-focused accolade for the group this month – Recordsure and TCC Founder and Executive Chair Joanne Smith was also listed among the sector’s most influential Senior Leaders on this year’s [Women in FinTech Powerlist](/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/). A very well done to the Recordsure and TCC teams! #### Supporting sources - [Tech Breakthrough](https://techbreakthrough.com/) - [FinTech Breakthrough Awards](https://fintechbreakthrough.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure and TCC recognised for RegTech Innovation at FinTech Breakthrough Awards 2023", "item": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#webpage", "url": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/", "name": "Recordsure and TCC recognised for RegTech Innovation at FinTech Breakthrough Awards 2023", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-03-23T11:43:54+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure and TCC recognised for RegTech Innovation at FinTech Breakthrough Awards 2023", "datePublished": "2023-03-23T11:43:54+00:00", "dateModified": "2026-10-09T04:50:34+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/db1a37db038642d3afdaa975bb186518/thumbnail-1024-ffddfa4115b882881a1892b031a4482468cbd08959b0614088145c83a09d4412.jpg", "description": "Recordsure and TCC were chosen as joint winners of the RegTech Innovation Award at the FinTech Breakthrough Awards 2023.", "inLanguage": "en-GB", "articleBody": "Recordsure and TCC won the RegTech Innovation Award at the FinTech Breakthrough Awards 2023. The award recognises regulatory technology that has pushed boundaries through technology-enabled solutions.\n\nWe\u2019re excited to share that we\u2019ve been chosen as joint winners, alongside our sister company TCC, of the RegTech Innovation Award at the FinTech Breakthrough Awards 2023!\n\nOne of five prizes given under programme\u2019s RegTech category, the RegTech Innovation award highlights the business that the judging panel \u2013 comprising technical, business, academic and marketing specialists \u2013 deems to have pushed the boundaries of regulatory technology by providing truly disruptive, tech-enabled solutions over the past year.\n\nThe assessment criteria includes metrics such as degree of innovation, performance, ease of use, functionality, value and overall impact.\n\nCommenting on the joint award, Recordsure and TCC Group CEO Joe Norburn said:\n\n\u201cWe, Recordsure & TCC, are proud to bring together smart people and smart technologies. To see the incredible collaborative efforts of both companies recognised, for a second year running, by the FinTech Breakthrough team is a fantastic achievement for us.\u201d\n\nRecordsure and TCC unite regulatory expertise with state-of-the-art AI technologies, to offer intelligent insights and MI. Our Intelligent Compliance approach to solving regulatory challenges allows our clients to be more effective and efficient in what they do.\n\nJoe explains:\n\n\u201cBy combining Recordsure\u2019s AI-powered analytics suites with TCC\u2019s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector\u2019s biggest regulatory challenges.\n\n\u201cAnd our clients are seeing the significant impact of this comprehensive strategy, benefitting from both the experience of our smart people and the efficiencies of our smart tech.\u201d\n\nThis announcement represents a second consecutive year of wins for Recordsure, having previously taken home the title of Best RegTech Company at last year\u2019s ceremony.\n\nEstablished in 2016 by market intelligence firm Tech Breakthrough, the FinTech Breakthrough Awards have grown to become one of the most hotly anticipated listings in the tech sphere. And not only that: the awards\u2019 focus on innovation and overcoming process roadblocks via new technologies have given them an added prescience in recent years, following the pandemic\u2019s acceleration of digital transformation across almost every area of the global economy.\n\nBy combining Recordsure\u2019s AI-powered analytics suites with TCC\u2019s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector\u2019s biggest regulatory challenges. Joe Norburn, Group CEO, Recordsure & TCC\n\nAmid the widespread adoption of digital channels and the rapid rise of FinTech within the financial services arena, the FinTech Breakthrough Awards serve to champion the companies at the forefront of addressing the challenges \u2013 and harnessing the opportunities \u2013 presented by the \u2018new normal\u2019.\n\nThis exciting award is the second FinTech-focused accolade for the group this month \u2013 Recordsure and TCC Founder and Executive Chair Joanne Smith was also listed among the sector\u2019s most influential Senior Leaders on this year\u2019s Women in FinTech Powerlist.\n\nA very well done to the Recordsure and TCC teams!", "wordCount": 485, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "RegTech innovation" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "Tech Breakthrough", "url": "https://techbreakthrough.com/" }, { "@type": "CreativeWork", "name": "FinTech Breakthrough Awards", "url": "https://fintechbreakthrough.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#webpage" }, "inLanguage": "en-GB", "text": "We\u2019re excited to share that we\u2019ve been chosen as joint winners, alongside our sister company TCC, of the RegTech Innovation Award at the FinTech Breakthrough Awards 2023!\n\nOne of five prizes given under programme\u2019s RegTech category, the RegTech Innovation award highlights the business that the judging panel \u2013 comprising technical, business, academic and marketing specialists \u2013 deems to have pushed the boundaries of regulatory technology by providing truly disruptive, tech-enabled solutions over the past year.\n\nThe assessment criteria includes metrics such as degree of innovation, performance, ease of use, functionality, value and overall impact.\n\nCommenting on the joint award, Recordsure and TCC Group CEO Joe Norburn said:\n\n\u201cWe, Recordsure & TCC, are proud to bring together smart people and smart technologies. To see the incredible collaborative efforts of both companies recognised, for a second year running, by the FinTech Breakthrough team is a fantastic achievement for us.\u201d\n\nRecordsure and TCC unite regulatory expertise with state-of-the-art AI technologies, to offer intelligent insights and MI. Our Intelligent Compliance approach to solving regulatory challenges allows our clients to be more effective and efficient in what they do.\n\nJoe explains:\n\n\u201cBy combining Recordsure\u2019s AI-powered analytics suites with TCC\u2019s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector\u2019s biggest regulatory challenges.\n\n\u201cAnd our clients are seeing the significant impact of this comprehensive strategy, benefitting from both the experience of our smart people and the efficiencies of our smart tech.\u201d\n\nThis announcement represents a second consecutive year of wins for Recordsure, having previously taken home the title of Best RegTech Company at last year\u2019s ceremony.\n\nEstablished in 2016 by market intelligence firm Tech Breakthrough, the FinTech Breakthrough Awards have grown to become one of the most hotly anticipated listings in the tech sphere. And not only that: the awards\u2019 focus on innovation and overcoming process roadblocks via new technologies have given them an added prescience in recent years, following the pandemic\u2019s acceleration of digital transformation across almost every area of the global economy.\n\nBy combining Recordsure\u2019s AI-powered analytics suites with TCC\u2019s unrivalled consultancy expertise, we can offer a unique, intelligent way of solving the sector\u2019s biggest regulatory challenges. Joe Norburn, Group CEO, Recordsure & TCC\n\nAmid the widespread adoption of digital channels and the rapid rise of FinTech within the financial services arena, the FinTech Breakthrough Awards serve to champion the companies at the forefront of addressing the challenges \u2013 and harnessing the opportunities \u2013 presented by the \u2018new normal\u2019.\n\nThis exciting award is the second FinTech-focused accolade for the group this month \u2013 Recordsure and TCC Founder and Executive Chair Joanne Smith was also listed among the sector\u2019s most influential Senior Leaders on this year\u2019s Women in FinTech Powerlist.\n\nA very well done to the Recordsure and TCC teams!" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-regtech-innovation-award-fintech-breakthrough-2023/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What award did Recordsure and TCC win?", "acceptedAnswer": { "@type": "Answer", "text": "They jointly won the RegTech Innovation Award at the FinTech Breakthrough Awards 2023." } }, { "@type": "Question", "name": "What does the RegTech Innovation Award recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognises a business judged to have pushed the boundaries of regulatory technology through technology-enabled solutions." } }, { "@type": "Question", "name": "What criteria were used in the assessment?", "acceptedAnswer": { "@type": "Answer", "text": "The judging considered innovation, performance, ease of use, functionality, value and overall impact." } }, { "@type": "Question", "name": "Why was this a notable win for Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "It was the second consecutive year of FinTech Breakthrough recognition after Recordsure previously won Best RegTech Company." } } ] } ] } ``` ### Recordsure Founder Joanne Smith featured on 2022’s Women in FinTech Powerlist - URL: https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/ - Published: 2023-03-09 - Modified: 2026-10-09 **Topic:** FinTech Powerlist Recordsure and TCC Group Founder and Executive Chair Joanne Smith was recognised in Innovate Finance’s Women in FinTech Powerlist 2022. The list focuses on female participation, role models and leadership in FinTech. #### Key points - Joanne Smith was recognised in the 2022 Women in FinTech Powerlist as a Senior Leader. - Innovate Finance’s list pays tribute to 250 women in tech across eight categories. - The Powerlist highlights contributions to FinTech transformation and the work of mentors and role models. - This was Joanne’s second appearance in the Senior Leaders category after the 2020 edition. Closing out International Women’s Day celebrations, Recordsure and TCC Group Founder and Executive Chair Joanne Smith was recognised in 2022’s Women in FinTech Powerlist as one of the sector’s Senior Leaders. The list, organised by [Innovate Finance](https://www.innovatefinance.com/womeninfintech/), shines a spotlight on the FinTech sphere’s influential and innovative female figures over the past year. It pays tribute to 250 leading women in tech across eight separate categories. #### Recognising contribution and participation With an emphasis on growing and supporting female participation in a historically male-dominated industry, the [Women in FinTech Powerlist](https://www.innovatefinance.com/womeninfintech/powerlist2022/) serves to highlight disruptive contributions from people pushing transformation across the FinTech arena. It also gives thanks for vital work inspiring other female technology professionals in their careers as mentors and role models. The latest accolade marked [Joanne](/meet-the-team/)’s second appearance on the list within the Senior Leaders category, after she had previously appeared in the [2020 edition](/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/). A huge congratulations to Joanne from all of us at [TCC](https://tcc.group/) and Recordsure. #### Supporting sources - [Innovate Finance Women in FinTech](https://www.innovatefinance.com/womeninfintech/) - [Women in FinTech Powerlist 2022](https://www.innovatefinance.com/womeninfintech/powerlist2022/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The list focuses on female participation, role models and leadership in FinTech.\n\nClosing out International Women\u2019s Day celebrations, Recordsure and TCC Group Founder and Executive Chair Joanne Smith was recognised in 2022\u2019s Women in FinTech Powerlist as one of the sector\u2019s Senior Leaders.\n\nThe list, organised by Innovate Finance, shines a spotlight on the FinTech sphere\u2019s influential and innovative female figures over the past year. It pays tribute to 250 leading women in tech across eight separate categories.\n\nRecognising contribution and participation\n\nWith an emphasis on growing and supporting female participation in a historically male-dominated industry, the Women in FinTech Powerlist serves to highlight disruptive contributions from people pushing transformation across the FinTech arena. It also gives thanks for vital work inspiring other female technology professionals in their careers as mentors and role models.\n\nThe latest accolade marked Joanne\u2019s second appearance on the list within the Senior Leaders category, after she had previously appeared in the 2020 edition. A huge congratulations to Joanne from all of us at TCC and Recordsure.", "wordCount": 191, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FinTech Powerlist" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Innovate Finance Women in FinTech", "url": "https://www.innovatefinance.com/womeninfintech/" }, { "@type": "CreativeWork", "name": "Women in FinTech Powerlist 2022", "url": "https://www.innovatefinance.com/womeninfintech/powerlist2022/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#webpage" }, "inLanguage": "en-GB", "text": "Closing out International Women\u2019s Day celebrations, Recordsure and TCC Group Founder and Executive Chair Joanne Smith was recognised in 2022\u2019s Women in FinTech Powerlist as one of the sector\u2019s Senior Leaders.\n\nThe list, organised by Innovate Finance, shines a spotlight on the FinTech sphere\u2019s influential and innovative female figures over the past year. It pays tribute to 250 leading women in tech across eight separate categories." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#webpage" }, "inLanguage": "en-GB", "headline": "Recognising contribution and participation", "text": "With an emphasis on growing and supporting female participation in a historically male-dominated industry, the Women in FinTech Powerlist serves to highlight disruptive contributions from people pushing transformation across the FinTech arena. It also gives thanks for vital work inspiring other female technology professionals in their careers as mentors and role models.\n\nThe latest accolade marked Joanne\u2019s second appearance on the list within the Senior Leaders category, after she had previously appeared in the 2020 edition. A huge congratulations to Joanne from all of us at TCC and Recordsure." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-women-in-fintech-powerlist-2022/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What recognition did Joanne Smith receive?", "acceptedAnswer": { "@type": "Answer", "text": "She was recognised in the 2022 Women in FinTech Powerlist as one of the sector\u2019s Senior Leaders." } }, { "@type": "Question", "name": "Who organises the Women in FinTech Powerlist?", "acceptedAnswer": { "@type": "Answer", "text": "The Powerlist is organised by Innovate Finance." } }, { "@type": "Question", "name": "How many women does the 2022 list recognise?", "acceptedAnswer": { "@type": "Answer", "text": "The 2022 list pays tribute to 250 leading women in tech across eight categories." } } ] } ] } ``` ### Why use RegTech to evidence consumer outcomes and achieve Consumer Duty success? - URL: https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/ - Published: 2023-02-06 - Modified: 2023-02-06 **Topic:** Evidencing consumer outcomes 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 evidence good consumer outcomes consistently, with QA oversight of 100% of interactions. #### Key points - The FCA saw plans suggesting some firms may have considered the requirements superficially or are over-confident that existing policies and processes will be adequate. - Resource investment alone won’t provide the level of oversight needed to monitor and evidence good consumer outcomes consistently. - The FCA noted firms that identified resource shortfalls early, especially in technology, and others investing sensibly in support and advice from external experts. - Conversation Intelligence increases QA oversight to 100%, ensures consistent QA reviews and evidences QA outcomes, while its in-built MI supports a long-term data strategy. - The FCA plans surveys of a sample of firms and targeted engagement with smaller firms to gauge their progress on Duty implementation. Last October, FCA regulated firms were busy preparing for the first step on their Consumer Duty journey ahead of the Halloween deadline for implementation plans. Fast-forward three months, and the regulator has now provided its [first in-depth analysis of some larger ‘fixed’ firms’ plans](https://www.fca.org.uk/publications/multi-firm-reviews/consumer-duty-implementation-plans), in turn giving a clearer picture of its expectations through key findings. So, how does this snapshot help your firm implement positive, Duty-focused change? Well, a key area the FCA noted was: > “We saw some plans that suggested firms may have considered the requirements superficially or are over-confident that their existing policies and processes will be adequate.” Therefore, this short but significant window of time before the 31st of July 2023 can be used to consider whether you have given enough in-depth thought to how you will monitor and evidence good consumer outcomes – and if you’re not planning on utilising RegTech to support this, then ask yourself why not. #### Deliverability through tech With the upcoming implementation deadline, firms are realising that embedding the Consumer Duty and monitoring its outcomes is no mean feat, and that resource investment alone isn’t going to provide the level of oversight required to monitor and evidence good consumer outcomes consistently. In its multi-firm review, the FCA did note some effective ways firms can go about this: “We noted examples where firms have identified early, and in detail, any resource shortfalls for timely implementation – especially in areas like technology – and have a commitment and plan to address this. Some firms are investing sensibly in support and advice from external experts where this assists and adds value.” This follows the [‘Zeroes to Heroes’](https://www.fca.org.uk/news/speeches/zeroes-heroes-how-culture-financial-services-can-change-everyones-benefit) speech from FCA Chief Operating Officer and Executive Director Emily Shepperd, which detailed how fostering an innovative culture and embracing AI solutions could hold the key to efficiently and intelligently analysing the reams of data firms have at their disposal. #### Utilising AI And that’s where Recordsure’s Conversation Intelligence can help. This unique solution is founded on intelligent speech analytics to provide enhanced Quality Assurance (QA) in regulated industries. Our proprietary AI models are proven to increase the efficiency and effectiveness of QA teams, ensure consistent QA reviews and evidence QA outcomes while increasing QA oversight to 100%. With a wealth of in-built MI, Conversation Intelligence can also form a fundamental part of your firm’s long-term data strategy – another thing the FCA has noted as good practice in its review. #### Next steps The FCA has been clear in its latest communication that it’ll be keeping a close eye on firms’ Duty implementation in the coming months – with planned surveys for a sample of firms to gauge the progress they’re making, along with targeted engagement with smaller firms. With this in mind, if you haven’t yet considered how RegTech can help you monitor and evidence consumer outcomes, now’s the ideal time to adopt a tech solution that will help propel your firm to Duty success. #### Supporting sources - [Consumer Duty implementation plans (FCA multi-firm review)](https://www.fca.org.uk/publications/multi-firm-reviews/consumer-duty-implementation-plans) - [Zeroes to heroes: how culture in financial services can change for everyone’s benefit (FCA speech)](https://www.fca.org.uk/news/speeches/zeroes-heroes-how-culture-financial-services-can-change-everyones-benefit) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why use RegTech to evidence consumer outcomes and achieve Consumer Duty success?", "item": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/", "name": "Why use RegTech to evidence consumer outcomes and achieve Consumer Duty success?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2023-02-06T11:39:08+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why use RegTech to evidence consumer outcomes and achieve Consumer Duty success?", "datePublished": "2023-02-06T11:39:08+00:00", "dateModified": "2023-02-06T11:39:08+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/9f396bad3621428aaa3856237aa04baf/thumbnail-1024-04a44e7c6d9e3eb22dc271c6a3e28508eeed1d6fee040a33313dcb74a40bc00e.png", "description": "The FCA\u2019s first in-depth analysis of Consumer Duty implementation plans suggested some firms may have considered the requirements superficially. Why RegTech can help firms monitor and evidence good consumer outcomes consistently ahead of 31st July 2023.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s first in-depth analysis of larger firms\u2019 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\u2019s Conversation Intelligence helps firms monitor and evidence good consumer outcomes consistently, with QA oversight of 100% of interactions.\n\nLast October, FCA regulated firms were busy preparing for the first step on their Consumer Duty journey ahead of the Halloween deadline for implementation plans.\n\nFast-forward three months, and the regulator has now provided its first in-depth analysis of some larger \u2018fixed\u2019 firms\u2019 plans, in turn giving a clearer picture of its expectations through key findings.\n\nSo, how does this snapshot help your firm implement positive, Duty-focused change? Well, a key area the FCA noted was:\n\n\u201cWe saw some plans that suggested firms may have considered the requirements superficially or are over-confident that their existing policies and processes will be adequate.\u201d\n\nTherefore, this short but significant window of time before the 31st of July 2023 can be used to consider whether you have given enough in-depth thought to how you will monitor and evidence good consumer outcomes \u2013 and if you\u2019re not planning on utilising RegTech to support this, then ask yourself why not.\n\nDeliverability through tech\n\nWith the upcoming implementation deadline, firms are realising that embedding the Consumer Duty and monitoring its outcomes is no mean feat, and that resource investment alone isn\u2019t going to provide the level of oversight required to monitor and evidence good consumer outcomes consistently. In its multi-firm review, the FCA did note some effective ways firms can go about this:\n\n\u201cWe noted examples where firms have identified early, and in detail, any resource shortfalls for timely implementation \u2013 especially in areas like technology \u2013 and have a commitment and plan to address this. Some firms are investing sensibly in support and advice from external experts where this assists and adds value.\u201d\n\nThis follows the \u2018Zeroes to Heroes\u2019 speech from FCA Chief Operating Officer and Executive Director Emily Shepperd, which detailed how fostering an innovative culture and embracing AI solutions could hold the key to efficiently and intelligently analysing the reams of data firms have at their disposal.\n\nUtilising AI\n\nAnd that\u2019s where Recordsure\u2019s Conversation Intelligence can help. This unique solution is founded on intelligent speech analytics to provide enhanced Quality Assurance (QA) in regulated industries. Our proprietary AI models are proven to increase the efficiency and effectiveness of QA teams, ensure consistent QA reviews and evidence QA outcomes while increasing QA oversight to 100%.\n\nWith a wealth of in-built MI, Conversation Intelligence can also form a fundamental part of your firm\u2019s long-term data strategy \u2013 another thing the FCA has noted as good practice in its review.\n\nNext steps\n\nThe FCA has been clear in its latest communication that it\u2019ll be keeping a close eye on firms\u2019 Duty implementation in the coming months \u2013 with planned surveys for a sample of firms to gauge the progress they\u2019re making, along with targeted engagement with smaller firms.\n\nWith this in mind, if you haven\u2019t yet considered how RegTech can help you monitor and evidence consumer outcomes, now\u2019s the ideal time to adopt a tech solution that will help propel your firm to Duty success.", "wordCount": 540, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Evidencing consumer outcomes" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Consumer Duty implementation plans (FCA multi-firm review)", "url": "https://www.fca.org.uk/publications/multi-firm-reviews/consumer-duty-implementation-plans" }, { "@type": "CreativeWork", "name": "Zeroes to heroes: how culture in financial services can change for everyone\u2019s benefit (FCA speech)", "url": "https://www.fca.org.uk/news/speeches/zeroes-heroes-how-culture-financial-services-can-change-everyones-benefit" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "inLanguage": "en-GB", "text": "Last October, FCA regulated firms were busy preparing for the first step on their Consumer Duty journey ahead of the Halloween deadline for implementation plans.\n\nFast-forward three months, and the regulator has now provided its first in-depth analysis of some larger \u2018fixed\u2019 firms\u2019 plans, in turn giving a clearer picture of its expectations through key findings.\n\nSo, how does this snapshot help your firm implement positive, Duty-focused change? Well, a key area the FCA noted was:\n\n\u201cWe saw some plans that suggested firms may have considered the requirements superficially or are over-confident that their existing policies and processes will be adequate.\u201d\n\nTherefore, this short but significant window of time before the 31st of July 2023 can be used to consider whether you have given enough in-depth thought to how you will monitor and evidence good consumer outcomes \u2013 and if you\u2019re not planning on utilising RegTech to support this, then ask yourself why not." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "inLanguage": "en-GB", "headline": "Deliverability through tech", "text": "With the upcoming implementation deadline, firms are realising that embedding the Consumer Duty and monitoring its outcomes is no mean feat, and that resource investment alone isn\u2019t going to provide the level of oversight required to monitor and evidence good consumer outcomes consistently. In its multi-firm review, the FCA did note some effective ways firms can go about this:\n\n\u201cWe noted examples where firms have identified early, and in detail, any resource shortfalls for timely implementation \u2013 especially in areas like technology \u2013 and have a commitment and plan to address this. Some firms are investing sensibly in support and advice from external experts where this assists and adds value.\u201d\n\nThis follows the \u2018Zeroes to Heroes\u2019 speech from FCA Chief Operating Officer and Executive Director Emily Shepperd, which detailed how fostering an innovative culture and embracing AI solutions could hold the key to efficiently and intelligently analysing the reams of data firms have at their disposal." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "inLanguage": "en-GB", "headline": "Utilising AI", "text": "And that\u2019s where Recordsure\u2019s Conversation Intelligence can help. This unique solution is founded on intelligent speech analytics to provide enhanced Quality Assurance (QA) in regulated industries. Our proprietary AI models are proven to increase the efficiency and effectiveness of QA teams, ensure consistent QA reviews and evidence QA outcomes while increasing QA oversight to 100%.\n\nWith a wealth of in-built MI, Conversation Intelligence can also form a fundamental part of your firm\u2019s long-term data strategy \u2013 another thing the FCA has noted as good practice in its review." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "inLanguage": "en-GB", "headline": "Next steps", "text": "The FCA has been clear in its latest communication that it\u2019ll be keeping a close eye on firms\u2019 Duty implementation in the coming months \u2013 with planned surveys for a sample of firms to gauge the progress they\u2019re making, along with targeted engagement with smaller firms.\n\nWith this in mind, if you haven\u2019t yet considered how RegTech can help you monitor and evidence consumer outcomes, now\u2019s the ideal time to adopt a tech solution that will help propel your firm to Duty success." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-consumer-duty-success/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA find in its first review of Consumer Duty implementation plans?", "acceptedAnswer": { "@type": "Answer", "text": "It saw some plans suggesting firms may have considered the requirements superficially or are over-confident that their existing policies and processes will be adequate. It also noted good practice, such as identifying resource shortfalls early \u2013 especially in technology \u2013 with a commitment and plan to address them." } }, { "@type": "Question", "name": "Is resource investment alone enough to evidence good consumer outcomes?", "acceptedAnswer": { "@type": "Answer", "text": "No. Firms are realising that resource investment alone isn\u2019t going to provide the level of oversight required to monitor and evidence good consumer outcomes consistently." } }, { "@type": "Question", "name": "How does Conversation Intelligence support Consumer Duty evidence?", "acceptedAnswer": { "@type": "Answer", "text": "Founded on intelligent speech analytics, it increases QA oversight to 100%, ensures consistent QA reviews and evidences QA outcomes. Its in-built MI can also form a fundamental part of a firm\u2019s long-term data strategy, which the FCA has noted as good practice." } }, { "@type": "Question", "name": "How will the FCA monitor Duty implementation?", "acceptedAnswer": { "@type": "Answer", "text": "It will keep a close eye on firms\u2019 implementation in the coming months, with planned surveys for a sample of firms to gauge their progress, along with targeted engagement with smaller firms." } } ] } ] } ``` ### RegTech for Consumer Duty: three steps to the starting line - URL: https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/ - Published: 2023-01-24 - Modified: 2023-01-24 **Topic:** Consumer Duty readiness 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, embracing data technology and moving beyond random sampling to oversee all customer interactions. #### Key points - The 31st July 2023 is the starting point of a new evidence-based, outcome-focused era of regulation, not a finish line to be filed and forgotten. - Everyone across the business must understand why the changes are happening; customer-facing colleagues need training to spot characteristics of vulnerability and provide suitable help. - Oversight of all customer interactions lets firms pinpoint potential problems early, before they crystallise into a serious breach of the Duty. - A firm receiving 120,000 calls a month can review only around 1,000 through random sampling – too few to paint a realistic picture across all interactions. - Using machine learning to achieve 100% oversight puts firms in an ideal position to proactively identify and rectify signs of risk or consumer harm. The 31st July 2023 is a date firmly stamped in FCA regulated firms’ diaries: from then on, the Consumer Duty will be a regulatory reality for new and existing financial products and services. But why is the Consumer Duty so hotly anticipated? Simply, because it’s a momentous shift to a much more assertive form of supervision by the FCA, meaning this date is not one that can be filed and forgotten – nor is it merely a finish line that’s just months away. > In reality, the 31st July 2023 is the starting point to a new evidence-based, outcome-focused era of regulation. So, with that in mind, we’re highlighting three important steps that firms can take now to get themselves ready for that Consumer Duty starting line. #### 1\. Prepare all team members for the change By now, many firms will have working groups set up to tackle the changes in policy and processes needed to realign with the Duty’s more stringent oversight standards. And so, it’s more important than ever that everyone – across the entire business – understands why these changes are taking place, and how this will require a long-term behavioural shift, not just compliance with new processes. The impact of these changes will be felt from board level to senior management, with the latter likely to oversee the Duty’s rollout and application in real terms. We also know that a cornerstone of the Duty is to provide support for vulnerable customers, so those colleagues in customer-facing roles will need to be trained to spot and identify those characteristics and provide suitable help. #### 2\. Embrace data technology The FCA has been clear that the Duty is going to be enforced in accordance with its cross-cutting rules. That’s why having oversight of all customer interactions will be a vital piece of the puzzle – allowing potential problems to be pinpointed early on, before they have the chance to crystallise into a serious breach of the Duty regulations. Currently, it is a resource-heavy and costly task for QA teams to gain oversight of all their customer interactions, so random sampling is the only choice. But it’s becoming more and more clear that this won’t cut the Consumer Duty mustard. The good news? There’s already a better way – by utilising data technology. The role AI and tech can play in overseeing all customer interactions could prove transformative for QA teams. By embracing the latest technologies, firms can fully review all customer interactions using AI, in turn focusing their human reviewers’ attention where it’s needed most based on the AI QA outcomes. #### 3\. Move beyond random sampling Firms that stick with random sampling alone run the risk of not understanding the true trends and context of their customer data and interactions, which ups the ante of not meeting the Duty requirements. For example, a firm that receives 120,000 calls a month can only review a small percentage of these interactions – around 1,000 a month – through the random sampling method. It may detect a small proportion of problem calls using this small sample, but in no way can this paint a true or realistic picture across all interactions. Under the Duty, having a better, more realistic grasp of your firm’s bad outcomes – by reviewing all the data available to you – will go a long way in helping you transform those bad outcomes into good, and reduce the potential for further bad outcomes in the long term. After all, firms that embrace machine learning to achieve 100% oversight of all their customer interactions will be in an ideal position to proactively identify and rectify signs of risk or consumer harm – a component of the Consumer Duty that really matters. Recordsure’s Conversation Intelligence solution is a unique platform for enhanced QA reviews, with AI QA models trained using 1,000s of hours of financial services-specific conversations. Our mortgage market model is based on best-practice frameworks. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Firms can get ready by preparing every team member for the change, embracing data technology and moving beyond random sampling to oversee all customer interactions.\n\nThe 31st July 2023 is a date firmly stamped in FCA regulated firms\u2019 diaries: from then on, the Consumer Duty will be a regulatory reality for new and existing financial products and services.\n\nBut why is the Consumer Duty so hotly anticipated? Simply, because it\u2019s a momentous shift to a much more assertive form of supervision by the FCA, meaning this date is not one that can be filed and forgotten \u2013 nor is it merely a finish line that\u2019s just months away.\n\nIn reality, the 31st July 2023 is the starting point to a new evidence-based, outcome-focused era of regulation.\n\nSo, with that in mind, we\u2019re highlighting three important steps that firms can take now to get themselves ready for that Consumer Duty starting line.\n\n1. Prepare all team members for the change\n\nBy now, many firms will have working groups set up to tackle the changes in policy and processes needed to realign with the Duty\u2019s more stringent oversight standards. And so, it\u2019s more important than ever that everyone \u2013 across the entire business \u2013 understands why these changes are taking place, and how this will require a long-term behavioural shift, not just compliance with new processes.\n\nThe impact of these changes will be felt from board level to senior management, with the latter likely to oversee the Duty\u2019s rollout and application in real terms. We also know that a cornerstone of the Duty is to provide support for vulnerable customers, so those colleagues in customer-facing roles will need to be trained to spot and identify those characteristics and provide suitable help.\n\n2. Embrace data technology\n\nThe FCA has been clear that the Duty is going to be enforced in accordance with its cross-cutting rules. That\u2019s why having oversight of all customer interactions will be a vital piece of the puzzle \u2013 allowing potential problems to be pinpointed early on, before they have the chance to crystallise into a serious breach of the Duty regulations.\n\nCurrently, it is a resource-heavy and costly task for QA teams to gain oversight of all their customer interactions, so random sampling is the only choice. But it\u2019s becoming more and more clear that this won\u2019t cut the Consumer Duty mustard.\n\nThe good news? There\u2019s already a better way \u2013 by utilising data technology. The role AI and tech can play in overseeing all customer interactions could prove transformative for QA teams. By embracing the latest technologies, firms can fully review all customer interactions using AI, in turn focusing their human reviewers\u2019 attention where it\u2019s needed most based on the AI QA outcomes.\n\n3. Move beyond random sampling\n\nFirms that stick with random sampling alone run the risk of not understanding the true trends and context of their customer data and interactions, which ups the ante of not meeting the Duty requirements.\n\nFor example, a firm that receives 120,000 calls a month can only review a small percentage of these interactions \u2013 around 1,000 a month \u2013 through the random sampling method. 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Simply, because it\u2019s a momentous shift to a much more assertive form of supervision by the FCA, meaning this date is not one that can be filed and forgotten \u2013 nor is it merely a finish line that\u2019s just months away.\n\nIn reality, the 31st July 2023 is the starting point to a new evidence-based, outcome-focused era of regulation.\n\nSo, with that in mind, we\u2019re highlighting three important steps that firms can take now to get themselves ready for that Consumer Duty starting line." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#webpage" }, "inLanguage": "en-GB", "headline": "1. Prepare all team members for the change", "text": "By now, many firms will have working groups set up to tackle the changes in policy and processes needed to realign with the Duty\u2019s more stringent oversight standards. And so, it\u2019s more important than ever that everyone \u2013 across the entire business \u2013 understands why these changes are taking place, and how this will require a long-term behavioural shift, not just compliance with new processes.\n\nThe impact of these changes will be felt from board level to senior management, with the latter likely to oversee the Duty\u2019s rollout and application in real terms. 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That\u2019s why having oversight of all customer interactions will be a vital piece of the puzzle \u2013 allowing potential problems to be pinpointed early on, before they have the chance to crystallise into a serious breach of the Duty regulations.\n\nCurrently, it is a resource-heavy and costly task for QA teams to gain oversight of all their customer interactions, so random sampling is the only choice. But it\u2019s becoming more and more clear that this won\u2019t cut the Consumer Duty mustard.\n\nThe good news? There\u2019s already a better way \u2013 by utilising data technology. The role AI and tech can play in overseeing all customer interactions could prove transformative for QA teams. By embracing the latest technologies, firms can fully review all customer interactions using AI, in turn focusing their human reviewers\u2019 attention where it\u2019s needed most based on the AI QA outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#webpage" }, "inLanguage": "en-GB", "headline": "3. Move beyond random sampling", "text": "Firms that stick with random sampling alone run the risk of not understanding the true trends and context of their customer data and interactions, which ups the ante of not meeting the Duty requirements.\n\nFor example, a firm that receives 120,000 calls a month can only review a small percentage of these interactions \u2013 around 1,000 a month \u2013 through the random sampling method. It may detect a small proportion of problem calls using this small sample, but in no way can this paint a true or realistic picture across all interactions.\n\nUnder the Duty, having a better, more realistic grasp of your firm\u2019s bad outcomes \u2013 by reviewing all the data available to you \u2013 will go a long way in helping you transform those bad outcomes into good, and reduce the potential for further bad outcomes in the long term.\n\nAfter all, firms that embrace machine learning to achieve 100% oversight of all their customer interactions will be in an ideal position to proactively identify and rectify signs of risk or consumer harm \u2013 a component of the Consumer Duty that really matters.\n\nRecordsure\u2019s Conversation Intelligence solution is a unique platform for enhanced QA reviews, with AI QA models trained using 1,000s of hours of financial services-specific conversations. Our mortgage market model is based on best-practice frameworks." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-steps-consumer-duty/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is 31st July 2023 a starting line rather than a finish line?", "acceptedAnswer": { "@type": "Answer", "text": "The Consumer Duty is a momentous shift to a much more assertive form of FCA supervision. The date marks the start of a new evidence-based, outcome-focused era of regulation, not a deadline that can be filed and forgotten." } }, { "@type": "Question", "name": "Who needs to prepare for the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "Everyone across the business. The impact will be felt from board level to senior management, and colleagues in customer-facing roles will need training to spot characteristics of vulnerability and provide suitable help." } }, { "@type": "Question", "name": "Why isn\u2019t random sampling enough under the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "A firm receiving 120,000 calls a month may review only around 1,000 of them through random sampling. That may detect a small proportion of problem calls, but it cannot paint a true or realistic picture across all interactions." } }, { "@type": "Question", "name": "How can AI help QA teams meet the Duty\u2019s standards?", "acceptedAnswer": { "@type": "Answer", "text": "By using AI to review all customer interactions, firms can focus their human reviewers\u2019 attention where it\u2019s needed most, based on the AI QA outcomes, and proactively identify and rectify signs of risk or consumer harm." } } ] } ] } ``` ### How to improve your treatment of vulnerable customers with AI technology - URL: https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/ - Published: 2022-12-21 - Modified: 2022-12-21 **Topic:** Vulnerable customers The Covid pandemic and the cost-of-living crisis have increased the number of consumers with characteristics of vulnerability, and the Consumer Duty puts fair treatment of vulnerable customers high on the FCA’s checklist. AI-powered speech analytics such as Recordsure’s Conversation Intelligence helps firms apply a consistent approach to identifying and assessing vulnerability. #### Key points - Over one million more customers met the criteria for vulnerability than two years earlier; 47% of UK adults had one or more characteristics in May 2022. - Mounting bills, rising food prices and soaring energy costs have deepened financial hardship, which is why the Consumer Duty emphasises protecting the most vulnerable. - Vulnerability can affect anyone at any time in their customer journey, so firms need a reliable process to identify it and evidence fair treatment. - The FCA has cited embracing AI as one solution, and Quality Assurance teams can implement RegTech to great effect on vulnerability challenges. - Conversation Intelligence now offers a feature aligned with firms’ own vulnerability QA policies, applying a consistent approach to vulnerability identification and assessment. The circumstances we’ve faced, not only in this country but also globally, over recent years can seem almost unreal when we take a moment to look back. From the Covid pandemic to the current cost-of-living crisis, these truly challenging times show no sign of reprieve for many as we move into 2023. #### Testing times Such challenges have unfortunately led to an increase in the number of consumers with characteristics of vulnerability – with over one million more customers meeting the criteria than two years earlier. [The Financial Lives 2022 survey](https://www.fca.org.uk/data/financial-lives-2022-early-survey-insights-vulnerability-financial-resilience) showed that 47% of UK adults had one or more of the characteristics in May 2022, likely due to an increase in the number of UK adults with low financial resilience. And in real terms, the cost-of-living crisis has left many households facing mounting bills, increasing food prices and soaring energy costs – which has only exacerbated the strain on people’s purse strings and left many facing financial hardship. So, it’s clear to see why the FCA’s Consumer Duty is placing such emphasis on providing good outcomes for customers and protecting those that are most vulnerable. #### Effective evidencing with AI technologies Having a reliable process in place to identify which of your consumers show signs of vulnerability – bearing in mind that this can happen to anyone at any time throughout their customer journey – has never been more important. But how can firms effectively demonstrate this and evidence fair treatment of vulnerable customers? Well, the good news is that the FCA has already cited one solution in a recent speech: embracing the use of AI. Quality Assurance teams can implement RegTech to great effect when addressing the challenges of vulnerability. #### New feature to address vulnerability challenges Recordsure’s unique Conversation Intelligence product – founded on intelligent speech analytics – now offers a new feature that aligns with your own internal vulnerability QA policies and processes. Combining speech analytics and machine learning with the latest technology, you can apply a consistent approach to vulnerability identification and assessment and transform your firm’s support for vulnerable customers. Under the Consumer Duty, the FCA will increasingly be asking for data focused on consumer outcomes, with the fair treatment of vulnerable customers high on its checklist – so firms will need to maximise the oversight of all their customer interactions, with a particular focus on how they are assessing vulnerability. #### Supporting sources - [Financial Lives 2022: early survey insights into vulnerability and financial resilience (FCA)](https://www.fca.org.uk/data/financial-lives-2022-early-survey-insights-vulnerability-financial-resilience) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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AI-powered speech analytics such as Recordsure\u2019s Conversation Intelligence helps firms apply a consistent approach to identifying and assessing vulnerability.\n\nThe circumstances we\u2019ve faced, not only in this country but also globally, over recent years can seem almost unreal when we take a moment to look back.\n\nFrom the Covid pandemic to the current cost-of-living crisis, these truly challenging times show no sign of reprieve for many as we move into 2023.\n\nTesting times\n\nSuch challenges have unfortunately led to an increase in the number of consumers with characteristics of vulnerability \u2013 with over one million more customers meeting the criteria than two years earlier. The Financial Lives 2022 survey showed that 47% of UK adults had one or more of the characteristics in May 2022, likely due to an increase in the number of UK adults with low financial resilience.\n\nAnd in real terms, the cost-of-living crisis has left many households facing mounting bills, increasing food prices and soaring energy costs \u2013 which has only exacerbated the strain on people\u2019s purse strings and left many facing financial hardship.\n\nSo, it\u2019s clear to see why the FCA\u2019s Consumer Duty is placing such emphasis on providing good outcomes for customers and protecting those that are most vulnerable.\n\nEffective evidencing with AI technologies\n\nHaving a reliable process in place to identify which of your consumers show signs of vulnerability \u2013 bearing in mind that this can happen to anyone at any time throughout their customer journey \u2013 has never been more important.\n\nBut how can firms effectively demonstrate this and evidence fair treatment of vulnerable customers? Well, the good news is that the FCA has already cited one solution in a recent speech: embracing the use of AI.\n\nQuality Assurance teams can implement RegTech to great effect when addressing the challenges of vulnerability.\n\nNew feature to address vulnerability challenges\n\nRecordsure\u2019s unique Conversation Intelligence product \u2013 founded on intelligent speech analytics \u2013 now offers a new feature that aligns with your own internal vulnerability QA policies and processes. Combining speech analytics and machine learning with the latest technology, you can apply a consistent approach to vulnerability identification and assessment and transform your firm\u2019s support for vulnerable customers.\n\nUnder the Consumer Duty, the FCA will increasingly be asking for data focused on consumer outcomes, with the fair treatment of vulnerable customers high on its checklist \u2013 so firms will need to maximise the oversight of all their customer interactions, with a particular focus on how they are assessing vulnerability.", "wordCount": 446, "keywords": [ "Utilities" ], "about": [ { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Vulnerable customers" } ], "audience": [ { "@type": "Audience", "audienceType": "Utilities" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Financial Lives 2022: early survey insights into vulnerability and financial resilience (FCA)", "url": "https://www.fca.org.uk/data/financial-lives-2022-early-survey-insights-vulnerability-financial-resilience" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "text": "The circumstances we\u2019ve faced, not only in this country but also globally, over recent years can seem almost unreal when we take a moment to look back.\n\nFrom the Covid pandemic to the current cost-of-living crisis, these truly challenging times show no sign of reprieve for many as we move into 2023." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Testing times", "text": "Such challenges have unfortunately led to an increase in the number of consumers with characteristics of vulnerability \u2013 with over one million more customers meeting the criteria than two years earlier. The Financial Lives 2022 survey showed that 47% of UK adults had one or more of the characteristics in May 2022, likely due to an increase in the number of UK adults with low financial resilience.\n\nAnd in real terms, the cost-of-living crisis has left many households facing mounting bills, increasing food prices and soaring energy costs \u2013 which has only exacerbated the strain on people\u2019s purse strings and left many facing financial hardship.\n\nSo, it\u2019s clear to see why the FCA\u2019s Consumer Duty is placing such emphasis on providing good outcomes for customers and protecting those that are most vulnerable." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Effective evidencing with AI technologies", "text": "Having a reliable process in place to identify which of your consumers show signs of vulnerability \u2013 bearing in mind that this can happen to anyone at any time throughout their customer journey \u2013 has never been more important.\n\nBut how can firms effectively demonstrate this and evidence fair treatment of vulnerable customers? Well, the good news is that the FCA has already cited one solution in a recent speech: embracing the use of AI.\n\nQuality Assurance teams can implement RegTech to great effect when addressing the challenges of vulnerability." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "New feature to address vulnerability challenges", "text": "Recordsure\u2019s unique Conversation Intelligence product \u2013 founded on intelligent speech analytics \u2013 now offers a new feature that aligns with your own internal vulnerability QA policies and processes. Combining speech analytics and machine learning with the latest technology, you can apply a consistent approach to vulnerability identification and assessment and transform your firm\u2019s support for vulnerable customers.\n\nUnder the Consumer Duty, the FCA will increasingly be asking for data focused on consumer outcomes, with the fair treatment of vulnerable customers high on its checklist \u2013 so firms will need to maximise the oversight of all their customer interactions, with a particular focus on how they are assessing vulnerability." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/improve-treatment-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How many UK adults show characteristics of vulnerability?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA\u2019s Financial Lives 2022 survey showed that 47% of UK adults had one or more characteristics of vulnerability in May 2022 \u2013 with over one million more customers meeting the criteria than two years earlier." } }, { "@type": "Question", "name": "Why is the Consumer Duty focused on vulnerable customers?", "acceptedAnswer": { "@type": "Answer", "text": "Challenges from the Covid pandemic to the cost-of-living crisis have increased the number of consumers with characteristics of vulnerability and left many facing financial hardship. The Duty places emphasis on good outcomes for customers and on protecting those that are most vulnerable." } }, { "@type": "Question", "name": "How can AI help firms evidence fair treatment of vulnerable customers?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA has cited embracing the use of AI as one solution. Conversation Intelligence combines speech analytics and machine learning so firms can apply a consistent approach to vulnerability identification and assessment, aligned with their own vulnerability QA policies and processes." } }, { "@type": "Question", "name": "What will the FCA expect from firms under the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "It will increasingly ask for data focused on consumer outcomes, with fair treatment of vulnerable customers high on its checklist. Firms will need to maximise oversight of all their customer interactions, with a particular focus on how they assess vulnerability." } } ] } ] } ``` ### Broadening oversight of customer interactions with tech and AI - URL: https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/ - Published: 2022-12-13 - Modified: 2022-12-13 **Topic:** Customer interaction oversight Random sampling leaves a large proportion of customer interactions un-analysed, but intelligent technology such as Recordsure’s Conversation Intelligence lets mortgage QA teams oversee 100% of calls and focus on those that need most attention. Garry Evans and Olivia Fahy explored how in our concluding Consumer Duty webinar, run in partnership with the BSA. #### Key points - Random sampling has two problems – it’s random, and it’s a sample – leaving a large proportion of consumer data un-analysed and real issues hard to find. - Our client evidence suggests that using Conversation Intelligence doubles team productivity, giving QA teams 100% oversight without a dramatic increase in resource. - Keyword-based speech analytics often achieve one true positive for every five false positives; Recordsure’s neural network solution achieves accuracy around the 90% mark. - Calls are captured via a telephony API or an audio capture app, then transcribed, classified into topics and risk points, and grouped by level of risk. - The model is trained on thousands of hours of transcription and annotation to analyse organic, unstructured conversation, and the mortgage market can literally plug in and go. [Related video](https://vimeo.com/779040977/0ba8f44615) In recent weeks, we brought together Consumer Duty experts, in partnership with the BSA, to consider all things Consumer Duty and what it means for the mortgage market. In our concluding webinar of the three-part series, Garry Evans, Recordsure’s Chief Product Officer, and Olivia Fahy, Recordsure’s Senior Product Manager, considered how the sector can use RegTech to effectively support Consumer Duty compliance and provide evidence for the FCA’s “show me, don’t tell me” approach. Here we take a whistle-stop tour of the webinar’s highlights, including a closer look at the role that tech and AI can play in helping get the mortgage market ready for the new Duty. #### A better method of oversight than random samples > To put it succinctly, there are two problems with random sampling – the method currently used by many mortgage Quality Assurance teams: it’s random, and it’s a sample. By reviewing just a small sample of customer interactions, a large proportion of consumer data is left un-analysed, which can make it difficult to paint a true picture of where real issues may lie. There is often a myth that upscaling to review 100% of all customer calls requires a dramatic increase in resource. This scenario may certainly be true if relying on human resource alone, but utilising the right kind of intelligent technology will mitigate this need – and actually give QA teams 100% oversight of customer interactions. In turn, their focus can be on the calls that need most attention. Our client evidence suggests that using Conversation Intelligence doubles team productivity. #### Speech analytics with a difference Ensuring good, consistent consumer outcomes will be more important than ever under the FCA’s new Consumer Duty. And that’s where Recordsure’s Conversation Intelligence can transform how QA teams achieve call quality assurance whilst gaining full oversight of customer interactions. The Conversation Intelligence model draws on machine learning and thousands of hours of manual training by our in-house linguistic analysts. The analysts meticulously examine customer calls and teach our model to understand the context around the language used in conversations. And Recordsure’s unique ‘neural network’ solution goes beyond speech analytics that rely on identifying key words and phrases. Such models often achieve only one true positive for every five false positives. Recordsure’s solution goes way beyond this, with accuracy around the 90% mark. #### Effectively oversee 100% of customer calls Recordsure can capture your firm’s customer interactions in one of two ways: - An API straight through to your company’s telephony systems - An audio capture app, which can be used in face-to-face or remote customer conversations The captured audio is converted to a transcript for analysis and then visually classified by our Conversation Intelligence model, with results visible on the Recordsure portal. The AI breaks the call down into key topics, so it’s easy to see what has been discussed when and where. From here, QA reviewers can select from classified topics to align with their checklist and systematically jump to the relevantly themed parts of the audio. The transcript aligns to the selected section so that reviewers can read, as well as hear, their chosen topic and area. #### Classifications and beyond Our AI goes one step further than classification. Conversation Intelligence will break your audio’s classifications down into further individual risk points, so it’s even simpler for the reviewer to check associated areas with the most relevant content. As 100% of customer calls are reviewed, our model will scale and group calls based on their level of risk, meaning reviewers can spend the majority of their time looking at the most problematic calls. This gives invaluable oversight and also flags high-risk areas, whilst allowing a deep dive into specific cases. This kind of analysis would not be possible via random sampling alone. Conversation Intelligence’s scope to find trends and themes in interactions gives you the tools to address the root cause of problem areas, so continuous improvement can be made across your customer journeys. #### AI and tech’s role for the mortgage sector - **Catching the errors:** With mortgage teams under increasing pressure, being able to evidence the information supplied to customers for both remediation and regulation purposes is key. Taking proactive action now to gain a deeper understanding of all the advice being given to customers will prove invaluable in the future. - **Complying with the Consumer Duty:** The step-change in regulation that the Consumer Duty will bring should not be underestimated. More and more, the FCA talks about firms embracing AI and using data to gain greater oversight of customer interactions. Having this level of oversight is no longer a pipe dream and is achievable, so the FCA will be keen to see this in practice. #### Breaking down barriers Conversation Intelligence’s sophisticated system supports natural language. The best customer conversations can’t be scripted, and our contingent model is trained to analyse just that. It’s designed specifically to analyse organic, unstructured conversation – the model’s ‘engine’ has been taught from thousands of hours of transcription and annotation. As Recordsure is used by a number of high street banks and mortgage associations, we have created a ready-made model that the mortgage market can literally plug in and go. This means no lengthy induction process, upfront investment or leaps of faith from firms. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Broadening oversight of customer interactions with tech and AI", "item": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/", "name": "Broadening oversight of customer interactions with tech and AI", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-12-13T14:46:40+00:00", "dateModified": "2024-08-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Broadening oversight of customer interactions with tech and AI", "datePublished": "2022-12-13T14:46:40+00:00", "dateModified": "2022-12-13T14:46:40+00:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8b41906876f6484ead2903423486a262/thumbnail-1024-954e72ce189181a393cb9b41a8cee1ea46f4e0b6d24646d1ec7827a1d54d1fe7.png", "description": "Highlights from our concluding Consumer Duty webinar with the BSA: how tech and AI can take mortgage QA teams beyond random sampling to oversight of 100% of customer calls, supporting the FCA\u2019s \u2018show me, don\u2019t tell me\u2019 approach.", "inLanguage": "en-GB", "articleBody": "Random sampling leaves a large proportion of customer interactions un-analysed, but intelligent technology such as Recordsure\u2019s Conversation Intelligence lets mortgage QA teams oversee 100% of calls and focus on those that need most attention. Garry Evans and Olivia Fahy explored how in our concluding Consumer Duty webinar, run in partnership with the BSA.\n\nIn recent weeks, we brought together Consumer Duty experts, in partnership with the BSA, to consider all things Consumer Duty and what it means for the mortgage market.\n\nIn our concluding webinar of the three-part series, Garry Evans, Recordsure\u2019s Chief Product Officer, and Olivia Fahy, Recordsure\u2019s Senior Product Manager, considered how the sector can use RegTech to effectively support Consumer Duty compliance and provide evidence for the FCA\u2019s \u201cshow me, don\u2019t tell me\u201d approach.\n\nHere we take a whistle-stop tour of the webinar\u2019s highlights, including a closer look at the role that tech and AI can play in helping get the mortgage market ready for the new Duty.\n\nA better method of oversight than random samples\n\nTo put it succinctly, there are two problems with random sampling \u2013 the method currently used by many mortgage Quality Assurance teams: it\u2019s random, and it\u2019s a sample.\n\nBy reviewing just a small sample of customer interactions, a large proportion of consumer data is left un-analysed, which can make it difficult to paint a true picture of where real issues may lie.\n\nThere is often a myth that upscaling to review 100% of all customer calls requires a dramatic increase in resource. This scenario may certainly be true if relying on human resource alone, but utilising the right kind of intelligent technology will mitigate this need \u2013 and actually give QA teams 100% oversight of customer interactions. In turn, their focus can be on the calls that need most attention.\n\nOur client evidence suggests that using Conversation Intelligence doubles team productivity.\n\nSpeech analytics with a difference\n\nEnsuring good, consistent consumer outcomes will be more important than ever under the FCA\u2019s new Consumer Duty. And that\u2019s where Recordsure\u2019s Conversation Intelligence can transform how QA teams achieve call quality assurance whilst gaining full oversight of customer interactions.\n\nThe Conversation Intelligence model draws on machine learning and thousands of hours of manual training by our in-house linguistic analysts. The analysts meticulously examine customer calls and teach our model to understand the context around the language used in conversations.\n\nAnd Recordsure\u2019s unique \u2018neural network\u2019 solution goes beyond speech analytics that rely on identifying key words and phrases. Such models often achieve only one true positive for every five false positives. Recordsure\u2019s solution goes way beyond this, with accuracy around the 90% mark.\n\nEffectively oversee 100% of customer calls\n\nRecordsure can capture your firm\u2019s customer interactions in one of two ways:\n\n\u2022 An API straight through to your company\u2019s telephony systems\n\u2022 An audio capture app, which can be used in face-to-face or remote customer conversations\n\nThe captured audio is converted to a transcript for analysis and then visually classified by our Conversation Intelligence model, with results visible on the Recordsure portal. The AI breaks the call down into key topics, so it\u2019s easy to see what has been discussed when and where. From here, QA reviewers can select from classified topics to align with their checklist and systematically jump to the relevantly themed parts of the audio. The transcript aligns to the selected section so that reviewers can read, as well as hear, their chosen topic and area.\n\nClassifications and beyond\n\nOur AI goes one step further than classification. Conversation Intelligence will break your audio\u2019s classifications down into further individual risk points, so it\u2019s even simpler for the reviewer to check associated areas with the most relevant content.\n\nAs 100% of customer calls are reviewed, our model will scale and group calls based on their level of risk, meaning reviewers can spend the majority of their time looking at the most problematic calls. This gives invaluable oversight and also flags high-risk areas, whilst allowing a deep dive into specific cases.\n\nThis kind of analysis would not be possible via random sampling alone. Conversation Intelligence\u2019s scope to find trends and themes in interactions gives you the tools to address the root cause of problem areas, so continuous improvement can be made across your customer journeys.\n\nAI and tech\u2019s role for the mortgage sector\n\n\u2022 Catching the errors: With mortgage teams under increasing pressure, being able to evidence the information supplied to customers for both remediation and regulation purposes is key. Taking proactive action now to gain a deeper understanding of all the advice being given to customers will prove invaluable in the future.\n\u2022 Complying with the Consumer Duty: The step-change in regulation that the Consumer Duty will bring should not be underestimated. More and more, the FCA talks about firms embracing AI and using data to gain greater oversight of customer interactions. Having this level of oversight is no longer a pipe dream and is achievable, so the FCA will be keen to see this in practice.\n\nBreaking down barriers\n\nConversation Intelligence\u2019s sophisticated system supports natural language. The best customer conversations can\u2019t be scripted, and our contingent model is trained to analyse just that. It\u2019s designed specifically to analyse organic, unstructured conversation \u2013 the model\u2019s \u2018engine\u2019 has been taught from thousands of hours of transcription and annotation.\n\nAs Recordsure is used by a number of high street banks and mortgage associations, we have created a ready-made model that the mortgage market can literally plug in and go. This means no lengthy induction process, upfront investment or leaps of faith from firms.", "wordCount": 926, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Customer interaction oversight" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "text": "In recent weeks, we brought together Consumer Duty experts, in partnership with the BSA, to consider all things Consumer Duty and what it means for the mortgage market.\n\nIn our concluding webinar of the three-part series, Garry Evans, Recordsure\u2019s Chief Product Officer, and Olivia Fahy, Recordsure\u2019s Senior Product Manager, considered how the sector can use RegTech to effectively support Consumer Duty compliance and provide evidence for the FCA\u2019s \u201cshow me, don\u2019t tell me\u201d approach.\n\nHere we take a whistle-stop tour of the webinar\u2019s highlights, including a closer look at the role that tech and AI can play in helping get the mortgage market ready for the new Duty." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "headline": "A better method of oversight than random samples", "text": "To put it succinctly, there are two problems with random sampling \u2013 the method currently used by many mortgage Quality Assurance teams: it\u2019s random, and it\u2019s a sample.\n\nBy reviewing just a small sample of customer interactions, a large proportion of consumer data is left un-analysed, which can make it difficult to paint a true picture of where real issues may lie.\n\nThere is often a myth that upscaling to review 100% of all customer calls requires a dramatic increase in resource. 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And that\u2019s where Recordsure\u2019s Conversation Intelligence can transform how QA teams achieve call quality assurance whilst gaining full oversight of customer interactions.\n\nThe Conversation Intelligence model draws on machine learning and thousands of hours of manual training by our in-house linguistic analysts. The analysts meticulously examine customer calls and teach our model to understand the context around the language used in conversations.\n\nAnd Recordsure\u2019s unique \u2018neural network\u2019 solution goes beyond speech analytics that rely on identifying key words and phrases. Such models often achieve only one true positive for every five false positives. Recordsure\u2019s solution goes way beyond this, with accuracy around the 90% mark." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Effectively oversee 100% of customer calls", "text": "Recordsure can capture your firm\u2019s customer interactions in one of two ways:\n\n\u2022 An API straight through to your company\u2019s telephony systems\n\u2022 An audio capture app, which can be used in face-to-face or remote customer conversations\n\nThe captured audio is converted to a transcript for analysis and then visually classified by our Conversation Intelligence model, with results visible on the Recordsure portal. The AI breaks the call down into key topics, so it\u2019s easy to see what has been discussed when and where. 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Conversation Intelligence will break your audio\u2019s classifications down into further individual risk points, so it\u2019s even simpler for the reviewer to check associated areas with the most relevant content.\n\nAs 100% of customer calls are reviewed, our model will scale and group calls based on their level of risk, meaning reviewers can spend the majority of their time looking at the most problematic calls. This gives invaluable oversight and also flags high-risk areas, whilst allowing a deep dive into specific cases.\n\nThis kind of analysis would not be possible via random sampling alone. Conversation Intelligence\u2019s scope to find trends and themes in interactions gives you the tools to address the root cause of problem areas, so continuous improvement can be made across your customer journeys." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "headline": "AI and tech\u2019s role for the mortgage sector", "text": "\u2022 Catching the errors: With mortgage teams under increasing pressure, being able to evidence the information supplied to customers for both remediation and regulation purposes is key. Taking proactive action now to gain a deeper understanding of all the advice being given to customers will prove invaluable in the future.\n\u2022 Complying with the Consumer Duty: The step-change in regulation that the Consumer Duty will bring should not be underestimated. More and more, the FCA talks about firms embracing AI and using data to gain greater oversight of customer interactions. Having this level of oversight is no longer a pipe dream and is achievable, so the FCA will be keen to see this in practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Breaking down barriers", "text": "Conversation Intelligence\u2019s sophisticated system supports natural language. The best customer conversations can\u2019t be scripted, and our contingent model is trained to analyse just that. It\u2019s designed specifically to analyse organic, unstructured conversation \u2013 the model\u2019s \u2018engine\u2019 has been taught from thousands of hours of transcription and annotation.\n\nAs Recordsure is used by a number of high street banks and mortgage associations, we have created a ready-made model that the mortgage market can literally plug in and go. This means no lengthy induction process, upfront investment or leaps of faith from firms." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-interactions-tech-ai/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is random sampling a weak basis for QA oversight?", "acceptedAnswer": { "@type": "Answer", "text": "It\u2019s random, and it\u2019s a sample. Reviewing only a small sample of customer interactions leaves a large proportion of consumer data un-analysed, making it difficult to paint a true picture of where real issues may lie." } }, { "@type": "Question", "name": "Does reviewing 100% of customer calls need a large increase in QA resource?", "acceptedAnswer": { "@type": "Answer", "text": "Only if you rely on human resource alone. The right kind of intelligent technology gives QA teams 100% oversight of customer interactions, and our client evidence suggests that using Conversation Intelligence doubles team productivity." } }, { "@type": "Question", "name": "How is Conversation Intelligence different from keyword-based speech analytics?", "acceptedAnswer": { "@type": "Answer", "text": "Models that rely on identifying key words and phrases often achieve only one true positive for every five false positives. Our neural network solution, trained by in-house linguistic analysts to understand the context of language, achieves accuracy around the 90% mark." } }, { "@type": "Question", "name": "How does Recordsure capture and classify customer calls?", "acceptedAnswer": { "@type": "Answer", "text": "Through an API straight through to your telephony systems, or an audio capture app for face-to-face or remote conversations. The audio is transcribed and classified into key topics and individual risk points on the Recordsure portal, and calls are grouped by level of risk." } }, { "@type": "Question", "name": "Why does this matter under the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA increasingly talks about firms embracing AI and using data to gain greater oversight of customer interactions, and will be keen to see this in practice. Firms also need to evidence the information supplied to customers for both remediation and regulation purposes." } } ] } ] } ``` ### Welcome new talent and diversity into the world of RegTech: Happy #STEMDay 2022! - URL: https://recordsure.com/insights/news/welcome-new-talent-and-diversity-into-world-of-regtech-happy-stem-day-2022/ - Published: 2022-11-08 - Modified: 2026-10-09 **Topic:** STEM diversity Recordsure marks STEM Day by reflecting on the need for more diverse voices in science and technology careers, including FinTech and RegTech. #### Key points - STEM Day was founded in 2015 to celebrate science and technology careers. - Women and minority ethnic groups remain underrepresented in FinTech. - Diverse voices and ideas strengthen FinTech and RegTech. 8th November marks Science, Technology, Engineering and Mathematics Day, and Recordsure is celebrating the annual focus on STEM careers. Founded in 2015, STEM Day highlights the achievements of people leaving their mark within these disciplines and inspires the next generation to get involved with science and technology-based careers. #### Diversity in STEM STEM Day also promotes the continued diversification of the sector. Despite progress in recent years, women and minorities remain underrepresented. Recent research by [Tech Nation](https://technation.io/) highlighted that men outnumber women two to one in the FinTech sector, and that among women working in the industry only 13.5% are from minority ethnic backgrounds. #### Why diversity matters Recordsure believes those at the forefront of FinTech and RegTech have a responsibility to show that women and people from underrepresented backgrounds are welcome and valued, and that the industry culture is shifting for the better. Expanding the conversation, inviting diverse voices and ideas, and inspiring capable technology professionals to join the industry are presented as necessary steps towards a better future. #### Supporting sources - [Tech Nation](https://technation.io/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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The service focuses on oversight of customer conversations and quality assurance processes. #### Key points - The collaboration supports Consumer Duty implementation and compliance across UK financial services. - Random sampling does not provide sufficient oversight for Consumer Duty compliance. - The service combines Grant Thornton expertise with Recordsure’s machine-learning platform. - Compliance analytics can identify non-compliant conversations and feed coaching and governance activity. Recordsure announced a new collaboration with leading professional services provider Grant Thornton to support Consumer Duty implementation and compliance across the UK financial services industry. The strategic collaboration is intended to transform customer conversation monitoring for FCA Consumer Duty compliance. #### Consumer Duty: transforming customer conversation monitoring Financial services businesses need to focus on ensuring positive consumer outcomes. Increasing pressure on consumer finances is adding to the higher standards required by the FCA’s Consumer Duty. The regulations stipulate ongoing monitoring of retail customer outcomes. Firms must monitor key elements and set up continuous feedback loops into governance forums to ensure standards are achieved and appropriate action is taken if they are not. Reliance on random sampling of customer conversations does not provide sufficient oversight for Consumer Duty compliance. To support this monitoring, Grant Thornton and Recordsure are collaborating on a service designed to make it easier to put the right quality assurance processes in place. The service brings together Grant Thornton’s expertise in data, RegTech, automation and digital transformation with Recordsure’s artificial intelligence. #### Using artificial intelligence and machine learning Random sampling of customer conversations across the customer journey is not presented as a reliable quality indicator. It creates hidden conduct risk at individual and systemic levels and is not acceptable where viable solutions are available to detect harm. Working together, the organisations will enable regulated financial services organisations to automate oversight of all customer conversations and support subject matter experts to review identified risks. Implementing compliance analytics to highlight and better understand non-compliant conversations directly feeds into individual and team coaching, and improves customer outcomes by helping identify possible systemic issues. Niresh Rajah, Head of Data, RegTech and Digital Advisory Practice at [Grant Thornton UK LLP](https://www.grantthornton.co.uk/), said discharging consumer duty obligations is complex and requires a data-driven approach underpinned by machine learning and artificial intelligence tools and techniques. He said the collaboration combines Grant Thornton’s data management, data analytics, regulatory change and RegTech expertise with Recordsure’s machine-learning platform. #### Recordsure and TCC perspective [Adrian Crean](/meet-the-team/), Partnership Director at [Recordsure](/) and [TCC Group](https://tcc.group), said both Grant Thornton and Recordsure share a belief in fair customer treatment and in helping clients power regulatory and consumer oversight obligations with technology and data to deliver better customer outcomes. [Compliance Analytics AI solutions](/technology/conversation-intelligence/) can bring efficiencies to quality assurance teams. #### Supporting sources - [Grant Thornton UK LLP](https://www.grantthornton.co.uk/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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The service focuses on oversight of customer conversations and quality assurance processes.\n\nRecordsure announced a new collaboration with leading professional services provider Grant Thornton to support Consumer Duty implementation and compliance across the UK financial services industry. The strategic collaboration is intended to transform customer conversation monitoring for FCA Consumer Duty compliance.\n\nConsumer Duty: transforming customer conversation monitoring\n\nFinancial services businesses need to focus on ensuring positive consumer outcomes. Increasing pressure on consumer finances is adding to the higher standards required by the FCA\u2019s Consumer Duty.\n\nThe regulations stipulate ongoing monitoring of retail customer outcomes. Firms must monitor key elements and set up continuous feedback loops into governance forums to ensure standards are achieved and appropriate action is taken if they are not. Reliance on random sampling of customer conversations does not provide sufficient oversight for Consumer Duty compliance.\n\nTo support this monitoring, Grant Thornton and Recordsure are collaborating on a service designed to make it easier to put the right quality assurance processes in place. The service brings together Grant Thornton\u2019s expertise in data, RegTech, automation and digital transformation with Recordsure\u2019s artificial intelligence.\n\nUsing artificial intelligence and machine learning\n\nRandom sampling of customer conversations across the customer journey is not presented as a reliable quality indicator. It creates hidden conduct risk at individual and systemic levels and is not acceptable where viable solutions are available to detect harm.\n\nWorking together, the organisations will enable regulated financial services organisations to automate oversight of all customer conversations and support subject matter experts to review identified risks. Implementing compliance analytics to highlight and better understand non-compliant conversations directly feeds into individual and team coaching, and improves customer outcomes by helping identify possible systemic issues.\n\nNiresh Rajah, Head of Data, RegTech and Digital Advisory Practice at Grant Thornton UK LLP, said discharging consumer duty obligations is complex and requires a data-driven approach underpinned by machine learning and artificial intelligence tools and techniques. He said the collaboration combines Grant Thornton\u2019s data management, data analytics, regulatory change and RegTech expertise with Recordsure\u2019s machine-learning platform.\n\nRecordsure and TCC perspective\n\nAdrian Crean, Partnership Director at Recordsure and TCC Group, said both Grant Thornton and Recordsure share a belief in fair customer treatment and in helping clients power regulatory and consumer oversight obligations with technology and data to deliver better customer outcomes.\n\nCompliance Analytics AI solutions can bring efficiencies to quality assurance teams.", "wordCount": 414, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Grant Thornton collaboration" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Grant Thornton UK LLP", "url": "https://www.grantthornton.co.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure announced a new collaboration with leading professional services provider Grant Thornton to support Consumer Duty implementation and compliance across the UK financial services industry. The strategic collaboration is intended to transform customer conversation monitoring for FCA Consumer Duty compliance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Consumer Duty: transforming customer conversation monitoring", "text": "Financial services businesses need to focus on ensuring positive consumer outcomes. Increasing pressure on consumer finances is adding to the higher standards required by the FCA\u2019s Consumer Duty.\n\nThe regulations stipulate ongoing monitoring of retail customer outcomes. Firms must monitor key elements and set up continuous feedback loops into governance forums to ensure standards are achieved and appropriate action is taken if they are not. Reliance on random sampling of customer conversations does not provide sufficient oversight for Consumer Duty compliance.\n\nTo support this monitoring, Grant Thornton and Recordsure are collaborating on a service designed to make it easier to put the right quality assurance processes in place. The service brings together Grant Thornton\u2019s expertise in data, RegTech, automation and digital transformation with Recordsure\u2019s artificial intelligence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Using artificial intelligence and machine learning", "text": "Random sampling of customer conversations across the customer journey is not presented as a reliable quality indicator. It creates hidden conduct risk at individual and systemic levels and is not acceptable where viable solutions are available to detect harm.\n\nWorking together, the organisations will enable regulated financial services organisations to automate oversight of all customer conversations and support subject matter experts to review identified risks. Implementing compliance analytics to highlight and better understand non-compliant conversations directly feeds into individual and team coaching, and improves customer outcomes by helping identify possible systemic issues.\n\nNiresh Rajah, Head of Data, RegTech and Digital Advisory Practice at Grant Thornton UK LLP, said discharging consumer duty obligations is complex and requires a data-driven approach underpinned by machine learning and artificial intelligence tools and techniques. He said the collaboration combines Grant Thornton\u2019s data management, data analytics, regulatory change and RegTech expertise with Recordsure\u2019s machine-learning platform." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure and TCC perspective", "text": "Adrian Crean, Partnership Director at Recordsure and TCC Group, said both Grant Thornton and Recordsure share a belief in fair customer treatment and in helping clients power regulatory and consumer oversight obligations with technology and data to deliver better customer outcomes.\n\nCompliance Analytics AI solutions can bring efficiencies to quality assurance teams." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-grant-thornton-collaborate-to-transform-customer-conversation-monitoring/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Recordsure collaborating with?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure is collaborating with Grant Thornton to support Consumer Duty implementation and compliance." } }, { "@type": "Question", "name": "What problem does the collaboration address?", "acceptedAnswer": { "@type": "Answer", "text": "Ongoing monitoring of retail customer outcomes requires more than random sampling for Consumer Duty oversight." } }, { "@type": "Question", "name": "What expertise does the service combine?", "acceptedAnswer": { "@type": "Answer", "text": "It combines Grant Thornton\u2019s expertise in data, RegTech, automation and digital transformation with Recordsure\u2019s machine-learning platform." } }, { "@type": "Question", "name": "How can compliance analytics support customer outcomes?", "acceptedAnswer": { "@type": "Answer", "text": "Analytics can highlight non-compliant conversations, support expert review, feed coaching and help identify possible systemic issues." } } ] } ] } ``` ### Recordsure ranked #13 on 2022’s RegTech 50 list of influential tech firms - URL: https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/ - Published: 2022-10-31 - Modified: 2026-10-09 **Topic:** RegTech 50 ranking Recordsure ranked #13 in BusinessCloud’s 2022 RegTech 50, marking its second consecutive year on the list. The ranking was decided by a readership poll and an independent judging panel. #### Key points - Recordsure ranked #13 on BusinessCloud’s 2022 RegTech 50 list. - It had previously been shortlisted among 82 companies and reached the top 20. - The final ranking combined a BusinessCloud readership poll with an independent judging panel. - Recordsure’s voice and document analytics support oversight and risk management capability. Recordsure was ranked #13 on the 2022 RegTech 50 list of the UK’s prominent regulatory and compliance technology firms. After previously being announced among the [82 companies shortlisted](/insights/news/recordsure-shortlisted-business-cloud-2022-regtech-50/) for inclusion earlier that month, Recordsure was confirmed as one of [the top 20](https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2022/) brands in the British RegTech sphere for the [second year](/insights/news/recordsure-makes-regtech-50-list/) running. #### Recognition for the Recordsure team Commenting on the accolade, Recordsure CEO [Joe Norburn](/meet-the-team/) said he was thrilled that Recordsure had again been noted as a leading name in the RegTech and ComplyTech fields among strong competition. He said inclusion in the RegTech 50 was a well-deserved recognition for the Recordsure team. He also noted that the previous 12 months had brought novel challenges for financial services firms, with the rising cost of living bringing customer vulnerability into greater focus and Consumer Duty raising monitoring and evidencing standards. In that context, he said RegTech plays a critical role in achieving compliance. #### Oversight and risk management capability In these pressing times, the benefits of [Recordsure’s AI-driven voice and document analytics solutions](/) are clear for businesses looking to improve oversight and risk management capabilities. The final RegTech 50 ranking was decided by a poll of [BusinessCloud](https://businesscloud.co.uk/) magazine’s readership alongside an independent judging panel. The panel included representatives from Tech Nation, techUK, the Centre for Digital Banking and Finance, and RegTech Associates. #### About the RegTech 50 Organised by BusinessCloud, the annual list celebrates start-ups and established businesses creating technologies and platforms for compliance, regulation and fraud protection applications within the UK financial services sector. Recordsure congratulated all firms that made the list and thanked everyone who took the time to vote. #### Supporting sources - [RegTech 50: UK’s most innovative compliance technology creators for 2022](https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2022/) - [BusinessCloud](https://businesscloud.co.uk/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure ranked #13 on 2022\u2019s RegTech 50 list of influential tech firms", "item": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage", "url": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/", "name": "Recordsure ranked #13 on 2022\u2019s RegTech 50 list of influential tech firms", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-10-31T09:13:31+00:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure ranked #13 on 2022\u2019s RegTech 50 list of influential tech firms", "datePublished": "2022-10-31T09:13:31+00:00", "dateModified": "2026-10-09T04:50:33+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bab6f69bbde848d9836b55aa2785a2d1/thumbnail-1024-8e7710a13f649184561aa6deab3f106000e4e17d9d947c01ea068d361809ac86.jpg", "description": "Recordsure ranked #13 in BusinessCloud\u2019s 2022 RegTech 50 after being shortlisted among 82 companies and selected in the top 20 UK RegTech brands.", "inLanguage": "en-GB", "articleBody": "Recordsure ranked #13 in BusinessCloud\u2019s 2022 RegTech 50, marking its second consecutive year on the list. The ranking was decided by a readership poll and an independent judging panel.\n\nRecordsure was ranked #13 on the 2022 RegTech 50 list of the UK\u2019s prominent regulatory and compliance technology firms.\n\nAfter previously being announced among the 82 companies shortlisted for inclusion earlier that month, Recordsure was confirmed as one of the top 20 brands in the British RegTech sphere for the second year running.\n\nRecognition for the Recordsure team\n\nCommenting on the accolade, Recordsure CEO Joe Norburn said he was thrilled that Recordsure had again been noted as a leading name in the RegTech and ComplyTech fields among strong competition. He said inclusion in the RegTech 50 was a well-deserved recognition for the Recordsure team.\n\nHe also noted that the previous 12 months had brought novel challenges for financial services firms, with the rising cost of living bringing customer vulnerability into greater focus and Consumer Duty raising monitoring and evidencing standards. In that context, he said RegTech plays a critical role in achieving compliance.\n\nOversight and risk management capability\n\nIn these pressing times, the benefits of Recordsure\u2019s AI-driven voice and document analytics solutions are clear for businesses looking to improve oversight and risk management capabilities.\n\nThe final RegTech 50 ranking was decided by a poll of BusinessCloud magazine\u2019s readership alongside an independent judging panel. The panel included representatives from Tech Nation, techUK, the Centre for Digital Banking and Finance, and RegTech Associates.\n\nAbout the RegTech 50\n\nOrganised by BusinessCloud, the annual list celebrates start-ups and established businesses creating technologies and platforms for compliance, regulation and fraud protection applications within the UK financial services sector.\n\nRecordsure congratulated all firms that made the list and thanked everyone who took the time to vote.", "wordCount": 299, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "RegTech 50 ranking" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "RegTech 50: UK\u2019s most innovative compliance technology creators for 2022", "url": "https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2022/" }, { "@type": "CreativeWork", "name": "BusinessCloud", "url": "https://businesscloud.co.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was ranked #13 on the 2022 RegTech 50 list of the UK\u2019s prominent regulatory and compliance technology firms.\n\nAfter previously being announced among the 82 companies shortlisted for inclusion earlier that month, Recordsure was confirmed as one of the top 20 brands in the British RegTech sphere for the second year running." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "inLanguage": "en-GB", "headline": "Recognition for the Recordsure team", "text": "Commenting on the accolade, Recordsure CEO Joe Norburn said he was thrilled that Recordsure had again been noted as a leading name in the RegTech and ComplyTech fields among strong competition. He said inclusion in the RegTech 50 was a well-deserved recognition for the Recordsure team.\n\nHe also noted that the previous 12 months had brought novel challenges for financial services firms, with the rising cost of living bringing customer vulnerability into greater focus and Consumer Duty raising monitoring and evidencing standards. In that context, he said RegTech plays a critical role in achieving compliance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "inLanguage": "en-GB", "headline": "Oversight and risk management capability", "text": "In these pressing times, the benefits of Recordsure\u2019s AI-driven voice and document analytics solutions are clear for businesses looking to improve oversight and risk management capabilities.\n\nThe final RegTech 50 ranking was decided by a poll of BusinessCloud magazine\u2019s readership alongside an independent judging panel. The panel included representatives from Tech Nation, techUK, the Centre for Digital Banking and Finance, and RegTech Associates." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "inLanguage": "en-GB", "headline": "About the RegTech 50", "text": "Organised by BusinessCloud, the annual list celebrates start-ups and established businesses creating technologies and platforms for compliance, regulation and fraud protection applications within the UK financial services sector.\n\nRecordsure congratulated all firms that made the list and thanked everyone who took the time to vote." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-ranked-13-on-2022-regtech-50/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where did Recordsure rank on the 2022 RegTech 50?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure ranked #13 on the 2022 RegTech 50 list." } }, { "@type": "Question", "name": "Who organised the RegTech 50 ranking?", "acceptedAnswer": { "@type": "Answer", "text": "The list was organised by BusinessCloud." } }, { "@type": "Question", "name": "How was the final ranking decided?", "acceptedAnswer": { "@type": "Answer", "text": "The final ranking was decided by a BusinessCloud readership poll and an independent judging panel." } } ] } ] } ``` ### Consumer Duty compliance: why now’s the time to take action - URL: https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/ - Published: 2022-10-21 - Modified: 2026-10-09 **Topic:** Consumer Duty compliance Consumer Duty requires firms to prioritise customer needs throughout the business cycle and evidence that good outcomes are being achieved. Webinar guidance covers sustainable oversight and risk monitoring. #### Key points - Consumer Duty is presented as a shift in consumer protection and compliance evidencing. - The FCA expects firms to evidence outcomes, risk action and learning when results fall short. - Random sampling may not give enough assurance over vulnerability or root causes. - The webinar covers compliance objectives, oversight requirements and risk monitoring. The [new rules](/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/) are intended to significantly raise standards of customer care and will require businesses to prioritise the needs of the consumer at every step of the decision-making process, spanning the entire business cycle from product and service design through to customer interactions and complaints handling. And not only that: the regulator will expect businesses to be able to *evidence* that they’re adhering to a customer-first approach. It’ll also want to see how any emerging risks are being dealt with promptly and that less-than-stellar outcomes form the basis for meaningful change going forward. The Consumer Duty, then, signals an evolution from the previous ‘Treating Customers Fairly’ doctrine, encouraging firms to do more than simply avoid causing harm and instead actively work to help customers achieve their financial goals. #### Why is Consumer Duty compliance so critical for FCA-regulated firms? The Consumer Duty is emblematic of the FCA’s new ‘assertive supervision’ approach to regulation, pledging to be more ‘proactive’ – as opposed to primarily reacting to issues that have already occurred – and quicker to intervene in the face of emerging risks when necessary. The duty’s overarching Consumer Principle mandates firms to ‘act to deliver good outcomes’ for customers, whilst the Cross-Cutting Rules and Four Outcomes set out the FCA’s expectations for behaviour towards consumers and the standards that businesses must strive to achieve, respectively. But equally significant is the Consumer Duty’s emphasis on a ‘show me, don’t tell me’ approach to regulation, whereby businesses will have to routinely evidence: - They’re clear about what constitutes ‘good outcomes’ for their firm - Good outcomes are being consistently achieved - Lessons are being learned, and improvements are being made, when they fall short > It’s undeniable that these stringent consumer protection rules will look to ensure vulnerable customers are better protected – however, implementing and sustaining this considerable step up in monitoring requirements is sure to present a challenge for even the most dutiful compliance teams. For example, how can firms be sure they’re able to identify signs of vulnerability when relying on random sampling checks? And how can they be sure they’re treating the root cause of any inefficiencies, not just the symptoms? During the webinar session, the panel outlined the main objectives and thought processes behind the FCA’s Consumer Duty regulations and assessed what maintaining compliance with these new rules will mean for compliance processes. The panel shared tips on meeting Consumer Duty oversight and risk monitoring requirements, alongside guidance on building a compliance strategy. The discussion ended with a Q&A session addressing specific attendee points of interest. The webinar asked: ‘What is Consumer Duty compliance, and why do I need to take action now?’ The panel featured [**Neil Dethick**](https://www.linkedin.com/in/neildethick/), Consumer Duty Expert and Associate Director at [TCC Group](https://tcc.group/), and [**Garry Evans**](/meet-the-team/), Chief Product Officer at [Recordsure](/). > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Consumer Duty compliance: why now\u2019s the time to take action", "item": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/", "name": "Consumer Duty compliance: why now\u2019s the time to take action", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-10-21T07:18:38+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Consumer Duty compliance: why now\u2019s the time to take action", "datePublished": "2022-10-21T07:18:38+01:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e888f39d86764415894831b4ac048124/thumbnail-1024-2d9ba98e2e604460f089184a2decb38b3dde57f5b45325a3a89fc950460fa09a.png", "description": "How Consumer Duty changed FCA expectations, what firms need to evidence and how compliance teams can strengthen oversight of customer outcomes.", "inLanguage": "en-GB", "articleBody": "Consumer Duty requires firms to prioritise customer needs throughout the business cycle and evidence that good outcomes are being achieved. Webinar guidance covers sustainable oversight and risk monitoring.\n\nThe new rules are intended to significantly raise standards of customer care and will require businesses to prioritise the needs of the consumer at every step of the decision-making process, spanning the entire business cycle from product and service design through to customer interactions and complaints handling.\n\nAnd not only that: the regulator will expect businesses to be able to evidence that they\u2019re adhering to a customer-first approach. It\u2019ll also want to see how any emerging risks are being dealt with promptly and that less-than-stellar outcomes form the basis for meaningful change going forward.\n\nThe Consumer Duty, then, signals an evolution from the previous \u2018Treating Customers Fairly\u2019 doctrine, encouraging firms to do more than simply avoid causing harm and instead actively work to help customers achieve their financial goals.\n\nWhy is Consumer Duty compliance so critical for FCA-regulated firms?\n\nThe Consumer Duty is emblematic of the FCA\u2019s new \u2018assertive supervision\u2019 approach to regulation, pledging to be more \u2018proactive\u2019 \u2013 as opposed to primarily reacting to issues that have already occurred \u2013 and quicker to intervene in the face of emerging risks when necessary.\n\nThe duty\u2019s overarching Consumer Principle mandates firms to \u2018act to deliver good outcomes\u2019 for customers, whilst the Cross-Cutting Rules and Four Outcomes set out the FCA\u2019s expectations for behaviour towards consumers and the standards that businesses must strive to achieve, respectively.\n\nBut equally significant is the Consumer Duty\u2019s emphasis on a \u2018show me, don\u2019t tell me\u2019 approach to regulation, whereby businesses will have to routinely evidence:\n\n\u2022 They\u2019re clear about what constitutes \u2018good outcomes\u2019 for their firm\n\n\u2022 Good outcomes are being consistently achieved\n\n\u2022 Lessons are being learned, and improvements are being made, when they fall short\n\nIt\u2019s undeniable that these stringent consumer protection rules will look to ensure vulnerable customers are better protected \u2013 however, implementing and sustaining this considerable step up in monitoring requirements is sure to present a challenge for even the most dutiful compliance teams.\n\nFor example, how can firms be sure they\u2019re able to identify signs of vulnerability when relying on random sampling checks? And how can they be sure they\u2019re treating the root cause of any inefficiencies, not just the symptoms?\n\nDuring the webinar session, the panel outlined the main objectives and thought processes behind the FCA\u2019s Consumer Duty regulations and assessed what maintaining compliance with these new rules will mean for compliance processes.\n\nThe panel shared tips on meeting Consumer Duty oversight and risk monitoring requirements, alongside guidance on building a compliance strategy. The discussion ended with a Q&A session addressing specific attendee points of interest.\n\nThe webinar asked: \u2018What is Consumer Duty compliance, and why do I need to take action now?\u2019 The panel featured Neil Dethick, Consumer Duty Expert and Associate Director at TCC Group, and Garry Evans, Chief Product Officer at Recordsure.", "wordCount": 494, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consumer Duty compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage" }, "inLanguage": "en-GB", "text": "The new rules are intended to significantly raise standards of customer care and will require businesses to prioritise the needs of the consumer at every step of the decision-making process, spanning the entire business cycle from product and service design through to customer interactions and complaints handling.\n\nAnd not only that: the regulator will expect businesses to be able to evidence that they\u2019re adhering to a customer-first approach. It\u2019ll also want to see how any emerging risks are being dealt with promptly and that less-than-stellar outcomes form the basis for meaningful change going forward.\n\nThe Consumer Duty, then, signals an evolution from the previous \u2018Treating Customers Fairly\u2019 doctrine, encouraging firms to do more than simply avoid causing harm and instead actively work to help customers achieve their financial goals." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage" }, "inLanguage": "en-GB", "headline": "Why is Consumer Duty compliance so critical for FCA-regulated firms?", "text": "The Consumer Duty is emblematic of the FCA\u2019s new \u2018assertive supervision\u2019 approach to regulation, pledging to be more \u2018proactive\u2019 \u2013 as opposed to primarily reacting to issues that have already occurred \u2013 and quicker to intervene in the face of emerging risks when necessary.\n\nThe duty\u2019s overarching Consumer Principle mandates firms to \u2018act to deliver good outcomes\u2019 for customers, whilst the Cross-Cutting Rules and Four Outcomes set out the FCA\u2019s expectations for behaviour towards consumers and the standards that businesses must strive to achieve, respectively.\n\nBut equally significant is the Consumer Duty\u2019s emphasis on a \u2018show me, don\u2019t tell me\u2019 approach to regulation, whereby businesses will have to routinely evidence:\n\n\u2022 They\u2019re clear about what constitutes \u2018good outcomes\u2019 for their firm\n\n\u2022 Good outcomes are being consistently achieved\n\n\u2022 Lessons are being learned, and improvements are being made, when they fall short\n\nIt\u2019s undeniable that these stringent consumer protection rules will look to ensure vulnerable customers are better protected \u2013 however, implementing and sustaining this considerable step up in monitoring requirements is sure to present a challenge for even the most dutiful compliance teams.\n\nFor example, how can firms be sure they\u2019re able to identify signs of vulnerability when relying on random sampling checks? And how can they be sure they\u2019re treating the root cause of any inefficiencies, not just the symptoms?\n\nDuring the webinar session, the panel outlined the main objectives and thought processes behind the FCA\u2019s Consumer Duty regulations and assessed what maintaining compliance with these new rules will mean for compliance processes.\n\nThe panel shared tips on meeting Consumer Duty oversight and risk monitoring requirements, alongside guidance on building a compliance strategy. The discussion ended with a Q&A session addressing specific attendee points of interest.\n\nThe webinar asked: \u2018What is Consumer Duty compliance, and why do I need to take action now?\u2019 The panel featured Neil Dethick, Consumer Duty Expert and Associate Director at TCC Group, and Garry Evans, Chief Product Officer at Recordsure." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-compliance-why-nows-the-time-to-take-action/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does Consumer Duty require firms to evidence?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to evidence good outcomes, prompt action on emerging risks and meaningful change when outcomes fall short." } }, { "@type": "Question", "name": "Why is random sampling a challenge for Consumer Duty compliance?", "acceptedAnswer": { "@type": "Answer", "text": "Random sampling may not reliably identify signs of vulnerability or reveal whether firms are treating the root causes of inefficiency." } }, { "@type": "Question", "name": "Who featured in the webinar panel?", "acceptedAnswer": { "@type": "Answer", "text": "The panel featured Neil Dethick of TCC Group and Garry Evans of Recordsure." } } ] } ] } ``` ### Recordsure shortlisted for Business Cloud’s 2022 RegTech 50 - URL: https://recordsure.com/insights/news/recordsure-shortlisted-business-cloud-2022-regtech-50/ - Published: 2022-10-05 - Modified: 2026-10-09 **Topic:** RegTech 50 shortlist Recordsure was shortlisted for BusinessCloud’s 2022 RegTech 50, which celebrates UK compliance technology firms. The shortlist included 82 companies, with a final 50 decided by judges and public votes. #### Key points - Recordsure was shortlisted for BusinessCloud’s 2022 RegTech 50. - The annual ranking celebrates UK compliance, regulation and fraud protection technology firms. - The shortlist included 82 companies, with a final 50 to be decided by judges and public votes. - Recordsure had ranked 4th in the 2021 edition. Recordsure was shortlisted for inclusion on the RegTech 50 list of influential technology firms for 2022. Organised by [BusinessCloud](https://businesscloud.co.uk/), the [annual ranking](https://businesscloud.co.uk/regtech-50-vote-for-the-most-innovative-uk-compliance-technology-firms/) celebrates start-ups and established businesses creating technologies and platforms for compliance, regulation and fraud protection applications across the UK. #### Shortlist and previous recognition The 2022 shortlist featured a total of 82 companies, with the final 50 to be decided by a judging panel alongside votes from the public. The final ranking was set to be revealed on 31st October. Recordsure had previously ranked 4th in [the 2021 edition](/insights/news/recordsure-makes-regtech-50-list/). Recordsure’s [Compliance Analytics](/) solutions were recognised at the forefront of the UK tech sector for two years running. Recordsure wished all shortlisted companies good luck and thanked everyone for their continued support. #### Supporting sources - [BusinessCloud](https://businesscloud.co.uk/) - [RegTech 50 annual ranking](https://businesscloud.co.uk/regtech-50-vote-for-the-most-innovative-uk-compliance-technology-firms/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The nomination reflects Recordsure’s international RegTech work and Joanne’s wider recognition. #### Key points - Joanne Smith was named a finalist at the RegTech Australia Awards 2022. - The award recognises female entrepreneurs contributing to RegTech growth and innovation worldwide. - The nomination followed Joanne’s inclusion in the UK Most Influential Women in Tech longlist. - Winners were due to be announced in Sydney on 27th October. We couldn’t be happier to reveal that Recordsure Founder and Executive Chair Joanne Smith has been announced as a finalist for the Female Entrepreneur of the Year Internationally title at the RegTech Australia Awards 2022! This [prestigious award](https://regtech.org.au/page-18183) recognises the female entrepreneur that has worked most tirelessly to spearhead RegTech business growth and innovation worldwide over the past year, as well as deliver solutions that provide real tangible value to the technology and compliance spheres both at home and abroad. #### Recognition for international RegTech work Through a commitment to highlighting the pioneering work being done by female trailblazers in a traditionally male-dominated environment, this important accolade also aims to inspire new generations of new, diverse voices to join the RegTech arena at this exciting stage of its development. This latest announcement comes in a string of well-deserved recognition for [Joanne](/meet-the-team/), coming just weeks after she was featured in the longlist of candidates for [Most Influential Women in Tech](/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/) in the UK. Commenting on her nomination, Joanne said I’m thrilled to have been made a finalist for RegTech Australia’s Female Entrepreneur of the Year. For Recordsure’s work to be honoured amongst fierce international competition is a real testament to the disruptive power of our Compliance Analytics AI platforms. #### RegTech Australia awards Our international achievements show that our solutions offer just as many oversight and efficiency benefits for firms outside the UK. Joanne Smith, Founder and Executive Chair, Recordsure The Female Innovator award is intended to inspire more young women to step into the RegTech industry, which makes this announcement a particular point of pride for us all at Recordsure: above all else, our team is a shining example of the glass ceiling being broken. [RegTech Australia](https://regtech.org.au/#About)’s awards scheme forms an integral part of its mission to devise a global centre of excellence, drive technological innovation and promote the adoption of RegTech platforms within regulated sectors worldwide. The winners of this year’s prizes are set to be announced at the RegTech Awards 2022 [Gala Dinner](https://regtech.org.au/event-4864728) in Sydney on 27th October. #### Supporting sources - [RegTech Australia Awards](https://regtech.org.au/page-18183) - [RegTech Australia](https://regtech.org.au/#About) - [RegTech Awards 2022 Gala Dinner](https://regtech.org.au/event-4864728) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The nomination reflects Recordsure\u2019s international RegTech work and Joanne\u2019s wider recognition.\n\nWe couldn\u2019t be happier to reveal that Recordsure Founder and Executive Chair Joanne Smith has been announced as a finalist for the Female Entrepreneur of the Year Internationally title at the RegTech Australia Awards 2022!\n\nThis prestigious award recognises the female entrepreneur that has worked most tirelessly to spearhead RegTech business growth and innovation worldwide over the past year, as well as deliver solutions that provide real tangible value to the technology and compliance spheres both at home and abroad.\n\nRecognition for international RegTech work\n\nThrough a commitment to highlighting the pioneering work being done by female trailblazers in a traditionally male-dominated environment, this important accolade also aims to inspire new generations of new, diverse voices to join the RegTech arena at this exciting stage of its development.\n\nThis latest announcement comes in a string of well-deserved recognition for Joanne, coming just weeks after she was featured in the longlist of candidates for Most Influential Women in Tech in the UK.\n\nCommenting on her nomination, Joanne said\n\nI\u2019m thrilled to have been made a finalist for RegTech Australia\u2019s Female Entrepreneur of the Year. For Recordsure\u2019s work to be honoured amongst fierce international competition is a real testament to the disruptive power of our Compliance Analytics AI platforms.\n\nRegTech Australia awards\n\nOur international achievements show that our solutions offer just as many oversight and efficiency benefits for firms outside the UK. Joanne Smith, Founder and Executive Chair, Recordsure\n\nThe Female Innovator award is intended to inspire more young women to step into the RegTech industry, which makes this announcement a particular point of pride for us all at Recordsure: above all else, our team is a shining example of the glass ceiling being broken.\n\nRegTech Australia\u2019s awards scheme forms an integral part of its mission to devise a global centre of excellence, drive technological innovation and promote the adoption of RegTech platforms within regulated sectors worldwide.\n\nThe winners of this year\u2019s prizes are set to be announced at the RegTech Awards 2022 Gala Dinner in Sydney on 27th October.", "wordCount": 373, "hasPart": [ { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-3" } ], "about": [ { "@type": "Thing", "name": "RegTech award finalist" } ], "citation": [ { "@type": "CreativeWork", "name": "RegTech Australia Awards", "url": "https://regtech.org.au/page-18183" }, { "@type": "CreativeWork", "name": "RegTech Australia", "url": "https://regtech.org.au/#About" }, { "@type": "CreativeWork", "name": "RegTech Awards 2022 Gala Dinner", "url": "https://regtech.org.au/event-4864728" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#webpage" }, "inLanguage": "en-GB", "text": "We couldn\u2019t be happier to reveal that Recordsure Founder and Executive Chair Joanne Smith has been announced as a finalist for the Female Entrepreneur of the Year Internationally title at the RegTech Australia Awards 2022!\n\nThis prestigious award recognises the female entrepreneur that has worked most tirelessly to spearhead RegTech business growth and innovation worldwide over the past year, as well as deliver solutions that provide real tangible value to the technology and compliance spheres both at home and abroad." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#webpage" }, "inLanguage": "en-GB", "headline": "Recognition for international RegTech work", "text": "Through a commitment to highlighting the pioneering work being done by female trailblazers in a traditionally male-dominated environment, this important accolade also aims to inspire new generations of new, diverse voices to join the RegTech arena at this exciting stage of its development.\n\nThis latest announcement comes in a string of well-deserved recognition for Joanne, coming just weeks after she was featured in the longlist of candidates for Most Influential Women in Tech in the UK.\n\nCommenting on her nomination, Joanne said\n\nI\u2019m thrilled to have been made a finalist for RegTech Australia\u2019s Female Entrepreneur of the Year. For Recordsure\u2019s work to be honoured amongst fierce international competition is a real testament to the disruptive power of our Compliance Analytics AI platforms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#webpage" }, "inLanguage": "en-GB", "headline": "RegTech Australia awards", "text": "Our international achievements show that our solutions offer just as many oversight and efficiency benefits for firms outside the UK. Joanne Smith, Founder and Executive Chair, Recordsure\n\nThe Female Innovator award is intended to inspire more young women to step into the RegTech industry, which makes this announcement a particular point of pride for us all at Recordsure: above all else, our team is a shining example of the glass ceiling being broken.\n\nRegTech Australia\u2019s awards scheme forms an integral part of its mission to devise a global centre of excellence, drive technological innovation and promote the adoption of RegTech platforms within regulated sectors worldwide.\n\nThe winners of this year\u2019s prizes are set to be announced at the RegTech Awards 2022 Gala Dinner in Sydney on 27th October." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-finalist-regtech-2022-awards-international-female-entrepreneur-of-year/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which award was Joanne Smith shortlisted for?", "acceptedAnswer": { "@type": "Answer", "text": "She was named a finalist for Female Entrepreneur of the Year Internationally at the RegTech Australia Awards 2022." } }, { "@type": "Question", "name": "What does the award recognise?", "acceptedAnswer": { "@type": "Answer", "text": "The award recognises a female entrepreneur supporting RegTech growth and innovation worldwide and delivering tangible value to technology and compliance sectors." } }, { "@type": "Question", "name": "When were the winners due to be announced?", "acceptedAnswer": { "@type": "Answer", "text": "The winners were set to be announced at the RegTech Awards 2022 Gala Dinner in Sydney on 27th October." } } ] } ] } ``` ### Recordsure Founder Joanne Smith makes 2022’s Most Influential Women in UK Tech longlist - URL: https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/ - Published: 2022-09-05 - Modified: 2026-10-09 **Topic:** Women in tech Recordsure and TCC Group Founder and Executive Chair Joanne Smith was nominated for Computer Weekly’s 2022 Most Influential Women in UK Tech list. Expert judges decide the final list before readers vote for the overall award winner. #### Key points - Joanne Smith was nominated for Computer Weekly’s 2022 Most Influential Women in UK Tech list. - The list recognises women driving change and innovation in the technology sector. - Computer Weekly expanded the list from 25 female leaders to 50 each year. - The final list is decided by expert judges before reader voting selects the overall award winner. Recordsure and TCC Group Founder and Executive Chair Joanne Smith was nominated for a place on the 2022 50 Most Influential Women in UK Tech list. Launched in 2012 by digital magazine [Computer Weekly](https://www.computerweekly.com/), the [publication](https://www.computerweekly.com/news/252523861/Most-influential-women-in-UK-tech-The-2022-longlist) recognises women driving change and innovation within the technology sector. #### How the list works The official list initially featured 25 female leaders before being expanded to recognise the work of the 50 most prominent women in tech each year. The programme also includes Rising Stars and Hall of Fame honours lists, which highlight up-and-coming industry talent and high-profile lifetime contributors. The final list of 2022’s 50 Most Influential Women was set to be decided by a panel of expert judges. After publication, Computer Weekly readers would be able to vote for the winner of the Most Influential Woman in UK Technology 2022 award, to be presented at the publication’s diversity in tech event in October. #### Supporting sources - [Computer Weekly](https://www.computerweekly.com/) - [Most influential women in UK tech: The 2022 longlist](https://www.computerweekly.com/news/252523861/Most-influential-women-in-UK-tech-The-2022-longlist) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure Founder Joanne Smith makes 2022\u2019s Most Influential Women in UK Tech longlist", "item": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#webpage", "url": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/", "name": "Recordsure Founder Joanne Smith makes 2022\u2019s Most Influential Women in UK Tech longlist", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-09-05T10:29:35+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure Founder Joanne Smith makes 2022\u2019s Most Influential Women in UK Tech longlist", "datePublished": "2022-09-05T10:29:35+01:00", "dateModified": "2026-10-09T04:50:31+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-makes-2022s-most-influential-women-in-uk-tech-longlist/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/84f7745b32f340f2bdc85fd9b16bbc4a/thumbnail-1024-c43aa0bc076440b6e053a7fb937e76060a0a0af48464fc71de7ba9a45ef8f456.jpg", "description": "Joanne Smith was longlisted for Computer Weekly\u2019s 2022 list recognising women driving change and innovation in the UK technology sector.", "inLanguage": "en-GB", "articleBody": "Recordsure and TCC Group Founder and Executive Chair Joanne Smith was nominated for Computer Weekly\u2019s 2022 Most Influential Women in UK Tech list. Expert judges decide the final list before readers vote for the overall award winner.\n\nRecordsure and TCC Group Founder and Executive Chair Joanne Smith was nominated for a place on the 2022 50 Most Influential Women in UK Tech list.\n\nLaunched in 2012 by digital magazine Computer Weekly, the publication recognises women driving change and innovation within the technology sector.\n\nHow the list works\n\nThe official list initially featured 25 female leaders before being expanded to recognise the work of the 50 most prominent women in tech each year. The programme also includes Rising Stars and Hall of Fame honours lists, which highlight up-and-coming industry talent and high-profile lifetime contributors.\n\nThe final list of 2022\u2019s 50 Most Influential Women was set to be decided by a panel of expert judges. 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Post-conversation Compliance Analytics helps QA teams move from random sampling of c.5% of interactions to a targeted, risk-based approach that evidences good outcomes. #### Key points - Boards (or equivalent) must agree a Consumer Duty implementation plan by 31st October 2022; the rules apply to new and existing products from 31 July 2023. - In an EY poll, nearly 90% of UK firms called Consumer Duty compliance a top regulatory priority, but 80% were concerned about evidencing good outcomes. - Firms must demonstrate the three Cross-Cutting Rules across four outcomes: customer understanding, products and services, customer support, and price and value. - Customer conversations are where many risks of consumer harm lie, making post-conversation QA a crucial area of focus under the Duty. - AI-powered tools let firms move from randomly sampling c.5% of customer interactions to a targeted, risk-based approach to QA, with improved controls, oversight and automation. Extensive speculation about the final rules for the Financial Conduct Authority (FCA)’s new Consumer Duty has been bubbling across the sector for months. With the FCA’s plans now confirmed, there are important dates for regulated businesses to not only note, but act by too, with the first being just weeks away. Through the [Consumer Duty](https://www.fca.org.uk/publication/policy/ps22-9.pdf), the FCA is fortifying its commitment to becoming a more assertive and data-led regulator. It has stipulated that, by 31st October 2022, its members’ boards (or equivalent) must have an agreed implementation plan in place detailing how they’ll meet the Consumer Duty’s fundamental principles, with improving customer outcomes at its core. Nine months later, on 31 July 2023, the Consumer Duty rules will come into force for new and existing products or services. A year later, these same rules will apply to firms’ closed products and services. #### Consumer Duty compliance: firms will need to step up their oversight strategy With this swift and challenging timeline looming, the responsibility for firms to become wholly compliant whilst embracing higher and clearer standards of consumer protection can seem overwhelming. EY found in [a recent poll](https://www.ey.com/en_uk/financial-services/consumer-duty/how-financial-services-is-preparing-for-consumer-duty) that nearly 90% of UK firms said Consumer Duty compliance was a top regulatory priority. However, 80% of respondents were concerned about how they can sufficiently evidence good outcomes. #### What the Consumer Duty means for QA teams Businesses will be mandated to actively work to ensure their customers achieve positive results from their services. Fair treatment for all is a consistent thread that flows through the Duty’s three new Cross-Cutting Rules: 1. Act in good faith towards retail customers 2. Take reasonable steps to avoid causing foreseeable harm to retail customers 3. Take reasonable steps to enable and support retail customers to pursue their financial objectives Firms will be expected to demonstrate these rules across four key outcomes: customer understanding, products and services, customer support, and price and value. Simply put, it’ll be as important to encourage positive customer outcomes as it is to eliminate negative ones. #### Practical steps firms can take to get ready Olivia Fahy, Senior Product Manager at Recordsure, explains: “The Consumer Duty is top of the agenda for many FCA regulated firms, as the recent EY poll suggests. With just over ten weeks until boards will need to agree their implementation plans and maintain oversight of their delivery, it’s an opportune time for businesses to consider how RegTech can help them achieve Consumer Duty compliance and deliver on the Duty’s outcomes. “The interactions that take place in customer conversations are where many of the risks lie in creating consumer harm, leading to poor outcomes, making post-conversation QA a crucial area of focus for firms to consider under the new Consumer Duty. The FCA has made clear that it wants firms to innovate in the interests of their customers, so rethinking outdated operational practices to eliminate risk and deliver better outcomes is of paramount importance. “To meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters – ensuring great customer outcomes. “Using Artificial Intelligence (AI) powered tools such as Recordsure’s Conversation Intelligence for post-conversation compliance reviews provides firms with the ability to move away from random sampling c.5% of their customer interactions to a targeted, risk-based approach to QA, helping drive improved controls, oversight and automation. “The FCA is moving towards a ‘show me, don’t tell me’ approach meaning supervisors will want to see evidence of how firms are monitoring and reviewing customer outcomes. QA teams can futureproof their operations and compliance with the introduction of post-conversation Compliance Analytics.” > To meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters. #### Supporting sources - [PS22/9: A new Consumer Duty (FCA policy statement)](https://www.fca.org.uk/publication/policy/ps22-9.pdf) - [How financial services is preparing for Consumer Duty (EY)](https://www.ey.com/en_uk/financial-services/consumer-duty/how-financial-services-is-preparing-for-consumer-duty) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The countdown to Consumer Duty compliance begins", "item": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/", "name": "The countdown to Consumer Duty compliance begins", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-08-17T11:06:10+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The countdown to Consumer Duty compliance begins", "datePublished": "2022-08-17T11:06:10+01:00", "dateModified": "2022-08-17T11:06:10+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6b38467e5c474c968aaee1e69c7433ab/thumbnail-1024-5f74b9929c6948dd7970cd455277c29ad0be3fb90bf491b076d4e953c959461d.jpg", "description": "With Consumer Duty implementation plans due by 31st October 2022 and the rules in force from 31 July 2023, how post-conversation Compliance Analytics can help QA teams evidence good customer outcomes and move beyond random sampling.", "inLanguage": "en-GB", "articleBody": "Under the FCA\u2019s Consumer Duty, boards must agree an implementation plan by 31st October 2022, and the rules apply to new and existing products from 31 July 2023 and to closed products a year later. Post-conversation Compliance Analytics helps QA teams move from random sampling of c.5% of interactions to a targeted, risk-based approach that evidences good outcomes.\n\nExtensive speculation about the final rules for the Financial Conduct Authority (FCA)\u2019s new Consumer Duty has been bubbling across the sector for months. With the FCA\u2019s plans now confirmed, there are important dates for regulated businesses to not only note, but act by too, with the first being just weeks away.\n\nThrough the Consumer Duty, the FCA is fortifying its commitment to becoming a more assertive and data-led regulator. It has stipulated that, by 31st October 2022, its members\u2019 boards (or equivalent) must have an agreed implementation plan in place detailing how they\u2019ll meet the Consumer Duty\u2019s fundamental principles, with improving customer outcomes at its core.\n\nNine months later, on 31 July 2023, the Consumer Duty rules will come into force for new and existing products or services. A year later, these same rules will apply to firms\u2019 closed products and services.\n\nConsumer Duty compliance: firms will need to step up their oversight strategy\n\nWith this swift and challenging timeline looming, the responsibility for firms to become wholly compliant whilst embracing higher and clearer standards of consumer protection can seem overwhelming.\n\nEY found in a recent poll that nearly 90% of UK firms said Consumer Duty compliance was a top regulatory priority. However, 80% of respondents were concerned about how they can sufficiently evidence good outcomes.\n\nWhat the Consumer Duty means for QA teams\n\nBusinesses will be mandated to actively work to ensure their customers achieve positive results from their services. Fair treatment for all is a consistent thread that flows through the Duty\u2019s three new Cross-Cutting Rules:\n\n1. Act in good faith towards retail customers\n2. Take reasonable steps to avoid causing foreseeable harm to retail customers\n3. Take reasonable steps to enable and support retail customers to pursue their financial objectives\n\nFirms will be expected to demonstrate these rules across four key outcomes: customer understanding, products and services, customer support, and price and value.\n\nSimply put, it\u2019ll be as important to encourage positive customer outcomes as it is to eliminate negative ones.\n\nPractical steps firms can take to get ready\n\nOlivia Fahy, Senior Product Manager at Recordsure, explains:\n\n\u201cThe Consumer Duty is top of the agenda for many FCA regulated firms, as the recent EY poll suggests. With just over ten weeks until boards will need to agree their implementation plans and maintain oversight of their delivery, it\u2019s an opportune time for businesses to consider how RegTech can help them achieve Consumer Duty compliance and deliver on the Duty\u2019s outcomes.\n\n\u201cThe interactions that take place in customer conversations are where many of the risks lie in creating consumer harm, leading to poor outcomes, making post-conversation QA a crucial area of focus for firms to consider under the new Consumer Duty. The FCA has made clear that it wants firms to innovate in the interests of their customers, so rethinking outdated operational practices to eliminate risk and deliver better outcomes is of paramount importance.\n\n\u201cTo meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters \u2013 ensuring great customer outcomes.\n\n\u201cUsing Artificial Intelligence (AI) powered tools such as Recordsure\u2019s Conversation Intelligence for post-conversation compliance reviews provides firms with the ability to move away from random sampling c.5% of their customer interactions to a targeted, risk-based approach to QA, helping drive improved controls, oversight and automation.\n\n\u201cThe FCA is moving towards a \u2018show me, don\u2019t tell me\u2019 approach meaning supervisors will want to see evidence of how firms are monitoring and reviewing customer outcomes. QA teams can futureproof their operations and compliance with the introduction of post-conversation Compliance Analytics.\u201d\n\nTo meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters.", "wordCount": 708, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-4" } ], "about": [ { "@type": "Thing", "name": "Consumer Duty compliance" } ], "citation": [ { "@type": "CreativeWork", "name": "PS22/9: A new Consumer Duty (FCA policy statement)", "url": "https://www.fca.org.uk/publication/policy/ps22-9.pdf" }, { "@type": "CreativeWork", "name": "How financial services is preparing for Consumer Duty (EY)", "url": "https://www.ey.com/en_uk/financial-services/consumer-duty/how-financial-services-is-preparing-for-consumer-duty" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "inLanguage": "en-GB", "text": "Extensive speculation about the final rules for the Financial Conduct Authority (FCA)\u2019s new Consumer Duty has been bubbling across the sector for months. With the FCA\u2019s plans now confirmed, there are important dates for regulated businesses to not only note, but act by too, with the first being just weeks away.\n\nThrough the Consumer Duty, the FCA is fortifying its commitment to becoming a more assertive and data-led regulator. It has stipulated that, by 31st October 2022, its members\u2019 boards (or equivalent) must have an agreed implementation plan in place detailing how they\u2019ll meet the Consumer Duty\u2019s fundamental principles, with improving customer outcomes at its core.\n\nNine months later, on 31 July 2023, the Consumer Duty rules will come into force for new and existing products or services. A year later, these same rules will apply to firms\u2019 closed products and services." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "inLanguage": "en-GB", "headline": "Consumer Duty compliance: firms will need to step up their oversight strategy", "text": "With this swift and challenging timeline looming, the responsibility for firms to become wholly compliant whilst embracing higher and clearer standards of consumer protection can seem overwhelming.\n\nEY found in a recent poll that nearly 90% of UK firms said Consumer Duty compliance was a top regulatory priority. However, 80% of respondents were concerned about how they can sufficiently evidence good outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "inLanguage": "en-GB", "headline": "What the Consumer Duty means for QA teams", "text": "Businesses will be mandated to actively work to ensure their customers achieve positive results from their services. Fair treatment for all is a consistent thread that flows through the Duty\u2019s three new Cross-Cutting Rules:\n\n1. Act in good faith towards retail customers\n2. Take reasonable steps to avoid causing foreseeable harm to retail customers\n3. Take reasonable steps to enable and support retail customers to pursue their financial objectives\n\nFirms will be expected to demonstrate these rules across four key outcomes: customer understanding, products and services, customer support, and price and value.\n\nSimply put, it\u2019ll be as important to encourage positive customer outcomes as it is to eliminate negative ones." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "inLanguage": "en-GB", "headline": "Practical steps firms can take to get ready", "text": "Olivia Fahy, Senior Product Manager at Recordsure, explains:\n\n\u201cThe Consumer Duty is top of the agenda for many FCA regulated firms, as the recent EY poll suggests. With just over ten weeks until boards will need to agree their implementation plans and maintain oversight of their delivery, it\u2019s an opportune time for businesses to consider how RegTech can help them achieve Consumer Duty compliance and deliver on the Duty\u2019s outcomes.\n\n\u201cThe interactions that take place in customer conversations are where many of the risks lie in creating consumer harm, leading to poor outcomes, making post-conversation QA a crucial area of focus for firms to consider under the new Consumer Duty. The FCA has made clear that it wants firms to innovate in the interests of their customers, so rethinking outdated operational practices to eliminate risk and deliver better outcomes is of paramount importance.\n\n\u201cTo meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters \u2013 ensuring great customer outcomes.\n\n\u201cUsing Artificial Intelligence (AI) powered tools such as Recordsure\u2019s Conversation Intelligence for post-conversation compliance reviews provides firms with the ability to move away from random sampling c.5% of their customer interactions to a targeted, risk-based approach to QA, helping drive improved controls, oversight and automation.\n\n\u201cThe FCA is moving towards a \u2018show me, don\u2019t tell me\u2019 approach meaning supervisors will want to see evidence of how firms are monitoring and reviewing customer outcomes. QA teams can futureproof their operations and compliance with the introduction of post-conversation Compliance Analytics.\u201d\n\nTo meet the high standards of the Consumer Duty, firms can either invest in more people, or invest in tech to create efficiencies that enable their people to spend their time more productively on what matters." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ten-week-countdown-to-consumer-duty-compliance-begins/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "When do the Consumer Duty\u2019s key deadlines fall?", "acceptedAnswer": { "@type": "Answer", "text": "Boards (or equivalent) must have an agreed implementation plan in place by 31st October 2022. The rules come into force for new and existing products or services on 31 July 2023, and apply to closed products and services a year later." } }, { "@type": "Question", "name": "What are the Consumer Duty\u2019s three Cross-Cutting Rules?", "acceptedAnswer": { "@type": "Answer", "text": "Act in good faith towards retail customers; take reasonable steps to avoid causing foreseeable harm to retail customers; and take reasonable steps to enable and support retail customers to pursue their financial objectives." } }, { "@type": "Question", "name": "Why is post-conversation QA a focus under the Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "Customer conversations are where many of the risks of consumer harm lie, leading to poor outcomes. With the FCA moving towards a \u2018show me, don\u2019t tell me\u2019 approach, supervisors will want to see evidence of how firms monitor and review customer outcomes." } }, { "@type": "Question", "name": "How can AI-powered tools change Consumer Duty QA?", "acceptedAnswer": { "@type": "Answer", "text": "Tools such as Recordsure\u2019s Conversation Intelligence let firms move away from randomly sampling c.5% of customer interactions to a targeted, risk-based approach to QA, helping drive improved controls, oversight and automation." } } ] } ] } ``` ### New Consumer Duty: from October 2022 implementation planning to going ‘live’ in July 2023 - URL: https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/ - Published: 2022-07-27 - Modified: 2026-10-09 **Topic:** Consumer Duty The FCA has confirmed Consumer Duty rules, replacing TCF with a more proactive focus on good customer outcomes. Firms need implementation plans, governance and evidence that their products, services and support meet the Duty’s expectations. #### Key points - The FCA published final Consumer Duty rules on 27 July 2022 after first proposing the Duty in May 2021. - The rules focus on products and services, price and value, customer understanding, and customer support. - Boards or equivalent management bodies must have implementation plans by 31 October 2022. - Rules apply to new and existing open products on 31 July 2023 and closed products on 31 July 2024. - Firms need evidence that customer outcomes are understood, tested and improved. The FCA has set out final rules for its Consumer Duty after more than a year of debate, speculation and industry discussion. First formally proposed in [May 2021](https://www.fca.org.uk/publication/consultation/cp21-13.pdf), and published on [27 July 2022](https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty), the Duty supersedes the previous Treating Customers Fairly framework with a more dynamic and proactive approach to regulation described by the FCA as assertive supervision. The FCA says firms must consider customers’ needs, characteristics and objectives, including characteristics of vulnerability, and how customers behave at every stage of the customer journey. Firms must act to deliver good customer outcomes and understand and evidence whether those outcomes are being met. The new rules and outcomes focus on four key areas: products and services, price and value, customer understanding, and customer support. They bring customers to the forefront of everything financial services firms do. #### So what are the new rules? The Consumer Duty introduces a new Consumer Principle requiring firms to act to deliver good outcomes for retail customers. Cross-cutting rules provide greater clarity on the FCA’s expectations under the new Principle and help firms interpret the four outcomes. The Consumer Duty rules relating to the four outcomes represent critical elements of the firm-consumer relationship and are intended to help drive good outcomes for customers. Joe Norburn, CEO at Recordsure and TCC, described the Consumer Duty as the most transformative regulatory shift from the regulator over the past decade, and said its focus on better customer treatment would be welcomed by consumers. The FCA’s clarity on expectations and firms’ focus on customers’ needs is expected to give firms more flexibility to compete and innovate in consumers’ interests. #### FCA introduces challenging deadlines The Duty places emphasis on accountability and transparency. It is intended to put consumers’ best interests at the heart of decisions in financial services and improve how firms serve consumers. The guidance also redefines firms’ obligations towards customers in recognition of the growing risks posed by an increasingly digitised marketplace. Fast action is required. Alongside the launch of the new Consumer Duty rules, the FCA announced challenging timescales for the financial industry: - 31 October 2022: Boards, or an equivalent management body, are required to have an implementation plan. - 31 July 2023: new Consumer Duty rules come into force for new and existing products or services open to sales or renewals. - 31 July 2024: rules come into force for closed products and services. David Boyhan, Technical Director at TCC, said the deadlines put the financial industry under pressure to deliver implementation plans in October and follow through to the Consumer Duty implementation deadline of July 2022. The final rules also set 31 July 2023 as the date when new rules come into force for new and existing products or services open to sales or renewals. As previously promoted, the FCA is keen for firms to implement the new regulations quickly. The new 31 October 2022 deadline means firms must have implementation plans in place, making a fit-for-purpose compliance framework a top priority for business leaders. David Boyhan also said consultancy specialists such as TCC were prepared to help firms with implementation planning, oversight and delivery. #### A quick Consumer Duty recap The Consumer Duty raises the bar for consumer care beyond Principle 6 and Principle 7 of the FCA handbook. Its overarching Consumer Principle is: a firm must act to deliver good outcomes for retail customers. The Duty, as stated by the FCA, will require firms to: - end unfair charges and fees; - make it as easy to switch or cancel products as it was to take them out in the first place; - provide helpful and accessible customer support, without making people wait so long for an answer that they give up; - provide timely and clear information that people can understand about products and services, so consumers can make good financial decisions rather than relying on lengthy terms and conditions few people are inclined to read; - provide products and services that are right for their customers; - focus on the real and diverse needs of customers, including those in vulnerable circumstances, at every stage and in each interaction. The final component of the Duty comprises four outcomes that firms must consistently strive to deliver: consumer understanding, products and services, consumer support, and price and value. 1. **Consumer Understanding:** understandable, easy-to-follow communications that help customers make informed decisions. 2. **Products and Services:** user-friendly products and services designed to meet customers’ needs and offer fair value, taking behavioural biases into account. 3. **Consumer Support:** support that meets customer needs when they need it, across channels and platforms, with vulnerability taken into account. 4. **Price and Value:** fairly priced products and services that deliver true value to customers. #### Now’s the time for action Whether firms began planning at first notice or waited for further instruction, the final rules mean implementation planning must start. Firms’ first task is to map how the Consumer Duty’s aims and conduct requirements apply to their own products and services. At the same time, firms need to prepare for the switch to a more outcomes-focused model of supervision. That includes assessing how current outcomes testing and complaints handling can be reworked to fit the Cross-Cutting Rules and Four Outcomes. The scope of the legislation means the entire product lifecycle is likely to need an honest review. Firms need to ask whether their products are truly designed to meet customers’ needs, whether they offer value for money, how communications help customers, whether websites are user-friendly, whether multiple communication channels are available, and whether more could be done to support consumers in realising their financial goals. #### Futureproof Consumer Duty compliance with RegTech Whatever stage of planning firms are working on, a smooth transition will require considerable time, attention and resource even from well-prepared teams. Recordsure works with [TCC’s](https://tcc.group) subject matter experts, who can provide an impartial and detailed health check of an approach, identifying inefficiencies or blind spots that could prevent effective operation from day one. Those specialists are well versed in implementation planning, delivery and oversight. RegTech is also expected to play a critical role in supporting Consumer Duty compliance implementation. Recordsure [Conversation Intelligence](/technology/conversation-intelligence/) and [Document Intelligence](/technology/document-intelligence/) monitor and review customer interactions and provide actionable insights, helping firms introduce greater oversight for customer-firm conversations and create audit trails. #### Supporting sources - [FCA CP21/13: A new Consumer Duty](https://www.fca.org.uk/publication/consultation/cp21-13.pdf) - [FCA PS22/9: A new Consumer Duty](https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "New Consumer Duty: from October 2022 implementation planning to going \u2018live\u2019 in July 2023", "item": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage", "url": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/", "name": "New Consumer Duty: from October 2022 implementation planning to going \u2018live\u2019 in July 2023", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-07-27T10:37:58+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "New Consumer Duty: from October 2022 implementation planning to going \u2018live\u2019 in July 2023", "datePublished": "2022-07-27T10:37:58+01:00", "dateModified": "2026-10-09T04:50:30+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ac239b13a4474732a3f446e9e860efbc/thumbnail-1024-53826281c9c6169099f3554eee605fcd3617ffa6c512061b647b226b49c1f02e.png", "description": "The FCA\u2019s Consumer Duty sets demanding implementation deadlines and shifts firms towards evidence-led outcomes, customer understanding, product value and ongoing support.", "inLanguage": "en-GB", "articleBody": "The FCA has confirmed Consumer Duty rules, replacing TCF with a more proactive focus on good customer outcomes. Firms need implementation plans, governance and evidence that their products, services and support meet the Duty\u2019s expectations.\n\nThe FCA has set out final rules for its Consumer Duty after more than a year of debate, speculation and industry discussion. First formally proposed in May 2021, and published on 27 July 2022, the Duty supersedes the previous Treating Customers Fairly framework with a more dynamic and proactive approach to regulation described by the FCA as assertive supervision.\n\nThe FCA says firms must consider customers\u2019 needs, characteristics and objectives, including characteristics of vulnerability, and how customers behave at every stage of the customer journey. Firms must act to deliver good customer outcomes and understand and evidence whether those outcomes are being met.\n\nThe new rules and outcomes focus on four key areas: products and services, price and value, customer understanding, and customer support. They bring customers to the forefront of everything financial services firms do.\n\nSo what are the new rules?\n\nThe Consumer Duty introduces a new Consumer Principle requiring firms to act to deliver good outcomes for retail customers. Cross-cutting rules provide greater clarity on the FCA\u2019s expectations under the new Principle and help firms interpret the four outcomes.\n\nThe Consumer Duty rules relating to the four outcomes represent critical elements of the firm-consumer relationship and are intended to help drive good outcomes for customers. Joe Norburn, CEO at Recordsure and TCC, described the Consumer Duty as the most transformative regulatory shift from the regulator over the past decade, and said its focus on better customer treatment would be welcomed by consumers.\n\nThe FCA\u2019s clarity on expectations and firms\u2019 focus on customers\u2019 needs is expected to give firms more flexibility to compete and innovate in consumers\u2019 interests.\n\nFCA introduces challenging deadlines\n\nThe Duty places emphasis on accountability and transparency. It is intended to put consumers\u2019 best interests at the heart of decisions in financial services and improve how firms serve consumers. The guidance also redefines firms\u2019 obligations towards customers in recognition of the growing risks posed by an increasingly digitised marketplace.\n\nFast action is required. Alongside the launch of the new Consumer Duty rules, the FCA announced challenging timescales for the financial industry:\n\n\u2022 31 October 2022: Boards, or an equivalent management body, are required to have an implementation plan.\n\u2022 31 July 2023: new Consumer Duty rules come into force for new and existing products or services open to sales or renewals.\n\u2022 31 July 2024: rules come into force for closed products and services.\n\nDavid Boyhan, Technical Director at TCC, said the deadlines put the financial industry under pressure to deliver implementation plans in October and follow through to the Consumer Duty implementation deadline of July 2022. The final rules also set 31 July 2023 as the date when new rules come into force for new and existing products or services open to sales or renewals.\n\nAs previously promoted, the FCA is keen for firms to implement the new regulations quickly. The new 31 October 2022 deadline means firms must have implementation plans in place, making a fit-for-purpose compliance framework a top priority for business leaders. David Boyhan also said consultancy specialists such as TCC were prepared to help firms with implementation planning, oversight and delivery.\n\nA quick Consumer Duty recap\n\nThe Consumer Duty raises the bar for consumer care beyond Principle 6 and Principle 7 of the FCA handbook. Its overarching Consumer Principle is: a firm must act to deliver good outcomes for retail customers.\n\nThe Duty, as stated by the FCA, will require firms to:\n\n\u2022 end unfair charges and fees;\n\u2022 make it as easy to switch or cancel products as it was to take them out in the first place;\n\u2022 provide helpful and accessible customer support, without making people wait so long for an answer that they give up;\n\u2022 provide timely and clear information that people can understand about products and services, so consumers can make good financial decisions rather than relying on lengthy terms and conditions few people are inclined to read;\n\u2022 provide products and services that are right for their customers;\n\u2022 focus on the real and diverse needs of customers, including those in vulnerable circumstances, at every stage and in each interaction.\n\nThe final component of the Duty comprises four outcomes that firms must consistently strive to deliver: consumer understanding, products and services, consumer support, and price and value.\n\n1. Consumer Understanding: understandable, easy-to-follow communications that help customers make informed decisions.\n2. Products and Services: user-friendly products and services designed to meet customers\u2019 needs and offer fair value, taking behavioural biases into account.\n3. Consumer Support: support that meets customer needs when they need it, across channels and platforms, with vulnerability taken into account.\n4. Price and Value: fairly priced products and services that deliver true value to customers.\n\nNow\u2019s the time for action\n\nWhether firms began planning at first notice or waited for further instruction, the final rules mean implementation planning must start. Firms\u2019 first task is to map how the Consumer Duty\u2019s aims and conduct requirements apply to their own products and services.\n\nAt the same time, firms need to prepare for the switch to a more outcomes-focused model of supervision. That includes assessing how current outcomes testing and complaints handling can be reworked to fit the Cross-Cutting Rules and Four Outcomes.\n\nThe scope of the legislation means the entire product lifecycle is likely to need an honest review. Firms need to ask whether their products are truly designed to meet customers\u2019 needs, whether they offer value for money, how communications help customers, whether websites are user-friendly, whether multiple communication channels are available, and whether more could be done to support consumers in realising their financial goals.\n\nFutureproof Consumer Duty compliance with RegTech\n\nWhatever stage of planning firms are working on, a smooth transition will require considerable time, attention and resource even from well-prepared teams.\n\nRecordsure works with TCC\u2019s subject matter experts, who can provide an impartial and detailed health check of an approach, identifying inefficiencies or blind spots that could prevent effective operation from day one. Those specialists are well versed in implementation planning, delivery and oversight.\n\nRegTech is also expected to play a critical role in supporting Consumer Duty compliance implementation. Recordsure Conversation Intelligence and Document Intelligence monitor and review customer interactions and provide actionable insights, helping firms introduce greater oversight for customer-firm conversations and create audit trails.", "wordCount": 1081, "hasPart": [ { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-4" }, { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-5" }, { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-6" } ], "about": [ { "@type": "Thing", "name": "Consumer Duty" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA CP21/13: A new Consumer Duty", "url": "https://www.fca.org.uk/publication/consultation/cp21-13.pdf" }, { "@type": "CreativeWork", "name": "FCA PS22/9: A new Consumer Duty", "url": "https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "text": "The FCA has set out final rules for its Consumer Duty after more than a year of debate, speculation and industry discussion. First formally proposed in May 2021, and published on 27 July 2022, the Duty supersedes the previous Treating Customers Fairly framework with a more dynamic and proactive approach to regulation described by the FCA as assertive supervision.\n\nThe FCA says firms must consider customers\u2019 needs, characteristics and objectives, including characteristics of vulnerability, and how customers behave at every stage of the customer journey. Firms must act to deliver good customer outcomes and understand and evidence whether those outcomes are being met.\n\nThe new rules and outcomes focus on four key areas: products and services, price and value, customer understanding, and customer support. They bring customers to the forefront of everything financial services firms do." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "headline": "So what are the new rules?", "text": "The Consumer Duty introduces a new Consumer Principle requiring firms to act to deliver good outcomes for retail customers. Cross-cutting rules provide greater clarity on the FCA\u2019s expectations under the new Principle and help firms interpret the four outcomes.\n\nThe Consumer Duty rules relating to the four outcomes represent critical elements of the firm-consumer relationship and are intended to help drive good outcomes for customers. Joe Norburn, CEO at Recordsure and TCC, described the Consumer Duty as the most transformative regulatory shift from the regulator over the past decade, and said its focus on better customer treatment would be welcomed by consumers.\n\nThe FCA\u2019s clarity on expectations and firms\u2019 focus on customers\u2019 needs is expected to give firms more flexibility to compete and innovate in consumers\u2019 interests." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "headline": "FCA introduces challenging deadlines", "text": "The Duty places emphasis on accountability and transparency. It is intended to put consumers\u2019 best interests at the heart of decisions in financial services and improve how firms serve consumers. The guidance also redefines firms\u2019 obligations towards customers in recognition of the growing risks posed by an increasingly digitised marketplace.\n\nFast action is required. Alongside the launch of the new Consumer Duty rules, the FCA announced challenging timescales for the financial industry:\n\n\u2022 31 October 2022: Boards, or an equivalent management body, are required to have an implementation plan.\n\u2022 31 July 2023: new Consumer Duty rules come into force for new and existing products or services open to sales or renewals.\n\u2022 31 July 2024: rules come into force for closed products and services.\n\nDavid Boyhan, Technical Director at TCC, said the deadlines put the financial industry under pressure to deliver implementation plans in October and follow through to the Consumer Duty implementation deadline of July 2022. The final rules also set 31 July 2023 as the date when new rules come into force for new and existing products or services open to sales or renewals.\n\nAs previously promoted, the FCA is keen for firms to implement the new regulations quickly. The new 31 October 2022 deadline means firms must have implementation plans in place, making a fit-for-purpose compliance framework a top priority for business leaders. David Boyhan also said consultancy specialists such as TCC were prepared to help firms with implementation planning, oversight and delivery." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "headline": "A quick Consumer Duty recap", "text": "The Consumer Duty raises the bar for consumer care beyond Principle 6 and Principle 7 of the FCA handbook. Its overarching Consumer Principle is: a firm must act to deliver good outcomes for retail customers.\n\nThe Duty, as stated by the FCA, will require firms to:\n\n\u2022 end unfair charges and fees;\n\u2022 make it as easy to switch or cancel products as it was to take them out in the first place;\n\u2022 provide helpful and accessible customer support, without making people wait so long for an answer that they give up;\n\u2022 provide timely and clear information that people can understand about products and services, so consumers can make good financial decisions rather than relying on lengthy terms and conditions few people are inclined to read;\n\u2022 provide products and services that are right for their customers;\n\u2022 focus on the real and diverse needs of customers, including those in vulnerable circumstances, at every stage and in each interaction.\n\nThe final component of the Duty comprises four outcomes that firms must consistently strive to deliver: consumer understanding, products and services, consumer support, and price and value.\n\n1. Consumer Understanding: understandable, easy-to-follow communications that help customers make informed decisions.\n2. Products and Services: user-friendly products and services designed to meet customers\u2019 needs and offer fair value, taking behavioural biases into account.\n3. Consumer Support: support that meets customer needs when they need it, across channels and platforms, with vulnerability taken into account.\n4. Price and Value: fairly priced products and services that deliver true value to customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "headline": "Now\u2019s the time for action", "text": "Whether firms began planning at first notice or waited for further instruction, the final rules mean implementation planning must start. Firms\u2019 first task is to map how the Consumer Duty\u2019s aims and conduct requirements apply to their own products and services.\n\nAt the same time, firms need to prepare for the switch to a more outcomes-focused model of supervision. That includes assessing how current outcomes testing and complaints handling can be reworked to fit the Cross-Cutting Rules and Four Outcomes.\n\nThe scope of the legislation means the entire product lifecycle is likely to need an honest review. Firms need to ask whether their products are truly designed to meet customers\u2019 needs, whether they offer value for money, how communications help customers, whether websites are user-friendly, whether multiple communication channels are available, and whether more could be done to support consumers in realising their financial goals." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "headline": "Futureproof Consumer Duty compliance with RegTech", "text": "Whatever stage of planning firms are working on, a smooth transition will require considerable time, attention and resource even from well-prepared teams.\n\nRecordsure works with TCC\u2019s subject matter experts, who can provide an impartial and detailed health check of an approach, identifying inefficiencies or blind spots that could prevent effective operation from day one. Those specialists are well versed in implementation planning, delivery and oversight.\n\nRegTech is also expected to play a critical role in supporting Consumer Duty compliance implementation. Recordsure Conversation Intelligence and Document Intelligence monitor and review customer interactions and provide actionable insights, helping firms introduce greater oversight for customer-firm conversations and create audit trails." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/new-consumer-duty-from-october-2022-implementation-planning-to-going-live-in-july-2023/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "When did the FCA publish final Consumer Duty rules?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA published the final Consumer Duty rules on 27 July 2022, after first formally proposing the Duty in May 2021." } }, { "@type": "Question", "name": "What are the Consumer Duty\u2019s four outcomes?", "acceptedAnswer": { "@type": "Answer", "text": "The four outcomes are consumer understanding, products and services, consumer support, and price and value." } }, { "@type": "Question", "name": "What deadline applies to implementation plans?", "acceptedAnswer": { "@type": "Answer", "text": "Boards or an equivalent management body are required to have an implementation plan by 31 October 2022." } }, { "@type": "Question", "name": "How can RegTech support implementation?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech can monitor and review customer interactions, provide actionable insights, support oversight and create audit trails for customer-firm conversations." } } ] } ] } ``` ### Women in Governance, Risk and Compliance: meet Recordsure and TCC’s Joanne Smith - URL: https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/ - Published: 2022-07-26 - Modified: 2026-10-09 **Topic:** Women in GRC Joanne Smith’s Women in GRC Awards recognition, judging role, RegTech career and advocacy for women in technology show her contribution to governance, risk and compliance. #### Key points - Joanne Smith was named Innovator of the Year in the Women in GRC Awards 2021. - She was confirmed as a judge for the following Women in GRC Awards. - Her career includes industry firsts, RegTech innovation and support for female founders. After being named Innovator of the Year in the Women in Governance, Risk and Compliance Awards 2021, Recordsure and TCC’s Founder and Executive Chair Joanne Smith was confirmed as a judge for the following event. The event shines a light on female leaders, mentors and advocates making their mark on the risk and compliance sector across 17 award categories. Ahead of the shortlist announcement in September, Joanne’s award-winning journey includes her role as a [judging panellist](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards/judges). #### Meet Joanne Smith Joanne Smith is described as an accomplished entrepreneur with more than 30 years of experience in finance, compliance and technological development, and as one of the RegTech sector’s respected and influential figures. She began her career in leading finance companies, building hands-on knowledge of regulation and the industry’s challenges. She founded compliance consultancy TCC Group in 2001, followed by RegTech business Recordsure in 2012. Her career has been rooted in solving a long-standing financial sector challenge: how firms can achieve efficient and effective risk management while delivering the best possible outcomes for customers at scale. #### Industry firsts Through TCC and Recordsure, Joanne has led RegTech innovation and contributed to several milestones. Her development projects have produced: - The first face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners. - A speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations. - An AI system that breaks financial conversations into component parts to support compliance, training, competency and customer insight reviews. #### Recognition and equality advocacy Joanne’s work has brought industry recognition and accolades, including Innovator of the Year at the Women in GRC Awards 2021 and Women in Compliance Awards’ Inspirational Woman of the Year. As a member of the female business community, she has supported women in technology at forums such as Forward Ladies. She is a supporter of female founders and a serial investor in female-led technology businesses, helping address the 1% funding challenges of female entrepreneurs. Joanne also mentors female colleagues who want to develop new solutions and challenge the status quo. Away from TCC and Recordsure, she is chair of the CBI SME council, sharing her experience of running two SME businesses to help other businesses prosper. #### Supporting sources - [Women in Governance, Risk and Compliance Awards judges](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards/judges) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Women in Governance, Risk and Compliance: meet Recordsure and TCC\u2019s Joanne Smith", "item": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage", "url": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/", "name": "Women in Governance, Risk and Compliance: meet Recordsure and TCC\u2019s Joanne Smith", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-07-26T14:59:45+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Women in Governance, Risk and Compliance: meet Recordsure and TCC\u2019s Joanne Smith", "datePublished": "2022-07-26T14:59:45+01:00", "dateModified": "2026-10-09T04:50:36+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/97a665e5fa0440a288df31f38a8a1ee1/thumbnail-1024-9974d1c3eb2ec08aea9362aa045f355154b869931675045072f0c3cae1ac6e57.jpg", "description": "After being named Innovator of the Year in the Women in GRC Awards 2021, Joanne Smith was confirmed as a judge for the next event.", "inLanguage": "en-GB", "articleBody": "Joanne Smith\u2019s Women in GRC Awards recognition, judging role, RegTech career and advocacy for women in technology show her contribution to governance, risk and compliance.\n\nAfter being named Innovator of the Year in the Women in Governance, Risk and Compliance Awards 2021, Recordsure and TCC\u2019s Founder and Executive Chair Joanne Smith was confirmed as a judge for the following event.\n\nThe event shines a light on female leaders, mentors and advocates making their mark on the risk and compliance sector across 17 award categories. Ahead of the shortlist announcement in September, Joanne\u2019s award-winning journey includes her role as a judging panellist.\n\nMeet Joanne Smith\n\nJoanne Smith is described as an accomplished entrepreneur with more than 30 years of experience in finance, compliance and technological development, and as one of the RegTech sector\u2019s respected and influential figures.\n\nShe began her career in leading finance companies, building hands-on knowledge of regulation and the industry\u2019s challenges. She founded compliance consultancy TCC Group in 2001, followed by RegTech business Recordsure in 2012.\n\nHer career has been rooted in solving a long-standing financial sector challenge: how firms can achieve efficient and effective risk management while delivering the best possible outcomes for customers at scale.\n\nIndustry firsts\n\nThrough TCC and Recordsure, Joanne has led RegTech innovation and contributed to several milestones. Her development projects have produced:\n\n\u2022 The first face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners.\n\u2022 A speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations.\n\u2022 An AI system that breaks financial conversations into component parts to support compliance, training, competency and customer insight reviews.\n\nRecognition and equality advocacy\n\nJoanne\u2019s work has brought industry recognition and accolades, including Innovator of the Year at the Women in GRC Awards 2021 and Women in Compliance Awards\u2019 Inspirational Woman of the Year.\n\nAs a member of the female business community, she has supported women in technology at forums such as Forward Ladies. She is a supporter of female founders and a serial investor in female-led technology businesses, helping address the 1% funding challenges of female entrepreneurs.\n\nJoanne also mentors female colleagues who want to develop new solutions and challenge the status quo. Away from TCC and Recordsure, she is chair of the CBI SME council, sharing her experience of running two SME businesses to help other businesses prosper.", "wordCount": 394, "hasPart": [ { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-3" }, { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-4" } ], "about": [ { "@type": "Thing", "name": "Women in GRC" } ], "citation": [ { "@type": "CreativeWork", "name": "Women in Governance, Risk and Compliance Awards judges", "url": "https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards/judges" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "inLanguage": "en-GB", "text": "After being named Innovator of the Year in the Women in Governance, Risk and Compliance Awards 2021, Recordsure and TCC\u2019s Founder and Executive Chair Joanne Smith was confirmed as a judge for the following event.\n\nThe event shines a light on female leaders, mentors and advocates making their mark on the risk and compliance sector across 17 award categories. Ahead of the shortlist announcement in September, Joanne\u2019s award-winning journey includes her role as a judging panellist." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "inLanguage": "en-GB", "headline": "Meet Joanne Smith", "text": "Joanne Smith is described as an accomplished entrepreneur with more than 30 years of experience in finance, compliance and technological development, and as one of the RegTech sector\u2019s respected and influential figures.\n\nShe began her career in leading finance companies, building hands-on knowledge of regulation and the industry\u2019s challenges. She founded compliance consultancy TCC Group in 2001, followed by RegTech business Recordsure in 2012.\n\nHer career has been rooted in solving a long-standing financial sector challenge: how firms can achieve efficient and effective risk management while delivering the best possible outcomes for customers at scale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "inLanguage": "en-GB", "headline": "Industry firsts", "text": "Through TCC and Recordsure, Joanne has led RegTech innovation and contributed to several milestones. Her development projects have produced:\n\n\u2022 The first face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners.\n\u2022 A speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations.\n\u2022 An AI system that breaks financial conversations into component parts to support compliance, training, competency and customer insight reviews." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "inLanguage": "en-GB", "headline": "Recognition and equality advocacy", "text": "Joanne\u2019s work has brought industry recognition and accolades, including Innovator of the Year at the Women in GRC Awards 2021 and Women in Compliance Awards\u2019 Inspirational Woman of the Year.\n\nAs a member of the female business community, she has supported women in technology at forums such as Forward Ladies. She is a supporter of female founders and a serial investor in female-led technology businesses, helping address the 1% funding challenges of female entrepreneurs.\n\nJoanne also mentors female colleagues who want to develop new solutions and challenge the status quo. Away from TCC and Recordsure, she is chair of the CBI SME council, sharing her experience of running two SME businesses to help other businesses prosper." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-governance-risk-and-compliance-meet-recordsure-and-tccs-joanne-smith/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why was Joanne Smith profiled?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne was named Innovator of the Year in the Women in GRC Awards 2021 and confirmed as a judge for the next event." } }, { "@type": "Question", "name": "What experience does Joanne Smith have?", "acceptedAnswer": { "@type": "Answer", "text": "She has more than 30 years of experience in finance, compliance and technological development." } }, { "@type": "Question", "name": "Which businesses did Joanne Smith found?", "acceptedAnswer": { "@type": "Answer", "text": "She founded TCC Group in 2001 and Recordsure in 2012." } } ] } ] } ``` ### How RegTech can help mortgage providers better manage customer safeguarding, consumer duty challenges and cost of living crises - URL: https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/ - Published: 2022-07-19 - Modified: 2026-10-09 **Topic:** Mortgage safeguarding Rising mortgage pressure and Consumer Duty expectations increase the need for better oversight of advice conversations and customer safeguarding. #### Key points - Consumer Duty supports a shift towards more assertive supervision by the FCA. - Rising mortgage rates and missed payments increase the need for careful customer safeguarding. - Conversation Intelligence records and segments 100% of customer interactions by topic. - Firms can review up to 20 times more high-risk calls per day with the same personnel. For mortgage providers, customer safeguarding has never been more critical With its incoming Consumer Duty legislation, the FCA is set to transition to an ‘assertive supervision’ approach to regulation – signalling a greater willingness to challenge firms and intervene when service providers’ practices and processes are failing to deliver satisfactory outcomes. But more broadly, the initiative seeks to bring about a shift in culture across financial services, placing a pronounced emphasis on innovation alongside the requirement that businesses place customers’ needs and financial health at the centre of all decision making. The reinforcement of customer safeguarding would simply be considered a noble goal in any calmer economic climate. Yet as the country continues to grapple with an unprecedented cost-of-living crisis, these timely extra measures may prove to be a vital lifeline for many struggling consumers. And this is no more apparent than in the high-stakes mortgages arena, where rising repayment costs are not just making wallets feel conspicuously lighter but in all-too-many cases jeopardising the fundamental security of the family home. #### Mortgage payments climb to unsustainable levels With the cost of living continuing to spike, nearly every aspect of consumers’ financial lives are being put under increasing strain – [a Which? study](https://www.creditstrategy.co.uk/latest-news/latest-news/two-million-consumers-missed-payments-in-the-last-month) found that more than two million households self-reported missing or defaulting on a key financial payment last month. [Research by L&C Mortgages](https://inews.co.uk/inews-lifestyle/money/cost-of-living-crisis-borrowers-warned-to-check-mortgages-as-interest-rates-triple-1628253) indicated that mortgage rates have, in some cases, tripled during the first half of 2022 – with a standard monthly payment on a £150,000 mortgage increasing by a full £100. This means homeowners already struggling with other essentials are having to find an extra £1,200 per year just to hang onto their homes. And this upward trajectory shows no signs of stopping anytime soon. Two million households self-reported missing or defaulting on a key financial payment last month - which doesn't come as a surprise with mortgage rates, in some cases, tripling during the first half of 2022. Many customers may be looking to switch to a more affordable deal to ease the escalating burden on their bank balance and avoid entering arrears. Others may be in a hurry to re-mortgage their properties with long-term fixed rate arrangements to cut the effects of further inflation off at the pass. Whatever their initial thoughts on how to proceed, it’s vital that advisers remember a mortgage is the most expensive investment the average consumer will ever make. That’s why they need to be in no doubt that the consumer has fully taken note of and understood the information provided to them. Indeed, in the spirit of the fast-approaching Consumer Duty, now’s the time to start going the extra mile to confirm your recommendations are genuinely in the customer’s best interests. Because at this point, the last thing consumers need is to be offered unsuitable advice – that could lead to further financial hardship – due to elements of risk being left unverified during discovery. #### Recordsure’s Conversation Intelligence offers a vital extra line of defence Powered by the latest technology of AI and Machine Learning, [Recordsure’s Conversation Intelligence](/technology/conversation-intelligence/) platform lets firms record and automatically segment 100% of customer interactions by conversation topic, allowing your team to zero in on specific risk points. For example, you can review the bereavement status, total savings or salient health issues – and ultimately complete quality assurance call reviews in half the time. Our next-generation speech analytics tool then scores each call, eliminating the blind spots that inevitably arise from manual sampling alone. In times of surging demand, it’s more crucial than ever to know where to deploy your finite human resource. That’s why Conversation Intelligence was meticulously designed to remove the guesswork from your compliance processes, so you can focus your human team’s attention on the cases that are most in need of review. With this RegTech tool, you are able to tackle up to 20 times more high-risk calls per day with the same personnel. In times of surging demand, it's more crucial than ever to know where to deploy your finite human resource. That's why it's so important to remove the guesswork from your compliance processes and focus your human team's attention on the cases that are most in need of review. And thanks to our unique artificial intelligence-based approach to risk identification, featuring our advanced analytics platform trained on over 2,000 hours of high-quality audio data, you’re much more likely to unearth any recurring issues negatively affecting consumer outcomes than by selecting sample cases at random. #### Next-generation MI for better customer outcomes With a comprehensive archive of past interactions and post-call MI, Conversation Intelligence gives your customer-facing staff the tools they need to drive consistently better outcomes. It also provides vulnerable consumers with the most suitable possible path forward by learning from specific examples of best practice. Recordsure RegTech tools enable you to tackle up to 20 times more high-risk calls per day with the same personnel. Where once your call centre teams would rely on case studies or hypothetical training exercises to hone their customer support skills, your staff will have access to a repository of their own real-life, risk-scored calls to identify where improvements could be made in their approach and risk management strategies. Not only will this help your customers resolve their financial difficulties as quickly and efficiently as possible but optimising your service through tech-enabled insights will truly set your business apart at a time when consumers are looking for a provider they can trust. #### Supporting sources - [Which? study on missed payments](https://www.creditstrategy.co.uk/latest-news/latest-news/two-million-consumers-missed-payments-in-the-last-month) - [L&C Mortgages research on mortgage rates](https://inews.co.uk/inews-lifestyle/money/cost-of-living-crisis-borrowers-warned-to-check-mortgages-as-interest-rates-triple-1628253) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": 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"https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/0786c82963e94ed5b229c1fc3c87fbfe/thumbnail-1024-f9bd60a056d97085dddbc0daa6bd72e18e5f64b50b9a25bd4863aa9caf4537fd.jpg", "description": "Mortgage providers can use conversation intelligence to oversee advice, identify customer risks and support Consumer Duty outcomes during economic stress.", "inLanguage": "en-GB", "articleBody": "Rising mortgage pressure and Consumer Duty expectations increase the need for better oversight of advice conversations and customer safeguarding.\n\nFor mortgage providers, customer safeguarding has never been more critical\n\nWith its incoming Consumer Duty legislation, the FCA is set to transition to an \u2018assertive supervision\u2019 approach to regulation \u2013 signalling a greater willingness to challenge firms and intervene when service providers\u2019 practices and processes are failing to deliver satisfactory outcomes.\n\nBut more broadly, the initiative seeks to bring about a shift in 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Yet as the country continues to grapple with an unprecedented cost-of-living crisis, these timely extra measures may prove to be a vital lifeline for many struggling consumers.\n\nAnd this is no more apparent than in the high-stakes mortgages arena, where rising repayment costs are not just making wallets feel conspicuously lighter but in all-too-many cases jeopardising the fundamental security of the family home.\n\nMortgage payments climb to unsustainable levels\n\nWith the cost of living continuing to spike, nearly every aspect of consumers\u2019 financial lives are being put under increasing strain \u2013 a Which? study found that more than two million households self-reported missing or defaulting on a key financial payment last month.\n\nResearch by L&C Mortgages indicated that mortgage rates have, in some cases, tripled during the first half of 2022 \u2013 with a standard monthly payment on a \u00a3150,000 mortgage increasing by a full \u00a3100. This means homeowners already struggling with other essentials are having to find an extra \u00a31,200 per year just to hang onto their homes. And this upward trajectory shows no signs of stopping anytime soon.\n\nTwo million households self-reported missing or defaulting on a key financial payment last month - which doesn't come as a surprise with mortgage rates, in some cases, tripling during the first half of 2022.\n\nMany customers may be looking to switch to a more affordable deal to ease the escalating burden on their bank balance and avoid entering arrears. Others may be in a hurry to re-mortgage their properties with long-term fixed rate arrangements to cut the effects of further inflation off at the pass.\n\nWhatever their initial thoughts on how to proceed, it\u2019s vital that advisers remember a mortgage is the most expensive investment the average consumer will ever make. That\u2019s why they need to be in no doubt that the consumer has fully taken note of and understood the information provided to them.\n\nIndeed, in the spirit of the fast-approaching Consumer Duty, now\u2019s the time to start going the extra mile to confirm your recommendations are genuinely in the customer\u2019s best interests. Because at this point, the last thing consumers need is to be offered unsuitable advice \u2013 that could lead to further financial hardship \u2013 due to elements of risk being left unverified during discovery.\n\nRecordsure\u2019s Conversation Intelligence offers a vital extra line of defence\n\nPowered by the latest technology of AI and Machine Learning, Recordsure\u2019s Conversation Intelligence platform lets firms record and automatically segment 100% of customer interactions by conversation topic, allowing your team to zero in on specific risk points. For example, you can review the bereavement status, total savings or salient health issues \u2013 and ultimately complete quality assurance call reviews in half the time. Our next-generation speech analytics tool then scores each call, eliminating the blind spots that inevitably arise from manual sampling alone.\n\nIn times of surging demand, it\u2019s more crucial than ever to know where to deploy your finite human resource. That\u2019s why Conversation Intelligence was meticulously designed to remove the guesswork from your compliance processes, so you can focus your human team\u2019s attention on the cases that are most in need of review. With this RegTech tool, you are able to tackle up to 20 times more high-risk calls per day with the same personnel.\n\nIn times of surging demand, it's more crucial than ever to know where to deploy your finite human resource. 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Yet as the country continues to grapple with an unprecedented cost-of-living crisis, these timely extra measures may prove to be a vital lifeline for many struggling consumers.\n\nAnd this is no more apparent than in the high-stakes mortgages arena, where rising repayment costs are not just making wallets feel conspicuously lighter but in all-too-many cases jeopardising the fundamental security of the family home." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#webpage" }, "inLanguage": "en-GB", "headline": "Mortgage payments climb to unsustainable levels", "text": "With the cost of living continuing to spike, nearly every aspect of consumers\u2019 financial lives are being put under increasing strain \u2013 a Which? study found that more than two million households self-reported missing or defaulting on a key financial payment last month.\n\nResearch by L&C Mortgages indicated that mortgage rates have, in some cases, tripled during the first half of 2022 \u2013 with a standard monthly payment on a \u00a3150,000 mortgage increasing by a full \u00a3100. This means homeowners already struggling with other essentials are having to find an extra \u00a31,200 per year just to hang onto their homes. And this upward trajectory shows no signs of stopping anytime soon.\n\nTwo million households self-reported missing or defaulting on a key financial payment last month - which doesn't come as a surprise with mortgage rates, in some cases, tripling during the first half of 2022.\n\nMany customers may be looking to switch to a more affordable deal to ease the escalating burden on their bank balance and avoid entering arrears. Others may be in a hurry to re-mortgage their properties with long-term fixed rate arrangements to cut the effects of further inflation off at the pass.\n\nWhatever their initial thoughts on how to proceed, it\u2019s vital that advisers remember a mortgage is the most expensive investment the average consumer will ever make. That\u2019s why they need to be in no doubt that the consumer has fully taken note of and understood the information provided to them.\n\nIndeed, in the spirit of the fast-approaching Consumer Duty, now\u2019s the time to start going the extra mile to confirm your recommendations are genuinely in the customer\u2019s best interests. Because at this point, the last thing consumers need is to be offered unsuitable advice \u2013 that could lead to further financial hardship \u2013 due to elements of risk being left unverified during discovery." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure\u2019s Conversation Intelligence offers a vital extra line of defence", "text": "Powered by the latest technology of AI and Machine Learning, Recordsure\u2019s Conversation Intelligence platform lets firms record and automatically segment 100% of customer interactions by conversation topic, allowing your team to zero in on specific risk points. For example, you can review the bereavement status, total savings or salient health issues \u2013 and ultimately complete quality assurance call reviews in half the time. Our next-generation speech analytics tool then scores each call, eliminating the blind spots that inevitably arise from manual sampling alone.\n\nIn times of surging demand, it\u2019s more crucial than ever to know where to deploy your finite human resource. That\u2019s why Conversation Intelligence was meticulously designed to remove the guesswork from your compliance processes, so you can focus your human team\u2019s attention on the cases that are most in need of review. With this RegTech tool, you are able to tackle up to 20 times more high-risk calls per day with the same personnel.\n\nIn times of surging demand, it's more crucial than ever to know where to deploy your finite human resource. That's why it's so important to remove the guesswork from your compliance processes and focus your human team's attention on the cases that are most in need of review.\n\nAnd thanks to our unique artificial intelligence-based approach to risk identification, featuring our advanced analytics platform trained on over 2,000 hours of high-quality audio data, you\u2019re much more likely to unearth any recurring issues negatively affecting consumer outcomes than by selecting sample cases at random." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#webpage" }, "inLanguage": "en-GB", "headline": "Next-generation MI for better customer outcomes", "text": "With a comprehensive archive of past interactions and post-call MI, Conversation Intelligence gives your customer-facing staff the tools they need to drive consistently better outcomes. It also provides vulnerable consumers with the most suitable possible path forward by learning from specific examples of best practice.\n\nRecordsure RegTech tools enable you to tackle up to 20 times more high-risk calls per day with the same personnel.\n\nWhere once your call centre teams would rely on case studies or hypothetical training exercises to hone their customer support skills, your staff will have access to a repository of their own real-life, risk-scored calls to identify where improvements could be made in their approach and risk management strategies.\n\nNot only will this help your customers resolve their financial difficulties as quickly and efficiently as possible but optimising your service through tech-enabled insights will truly set your business apart at a time when consumers are looking for a provider they can trust." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-helps-mortgage-providers-better-manage-customer-calls/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why do mortgages matter for Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "Rising repayment costs and financial pressure make customer safeguarding especially important in mortgage advice." } }, { "@type": "Question", "name": "What figures show consumer pressure?", "acceptedAnswer": { "@type": "Answer", "text": "More than two million households missed or defaulted on a key payment, while a standard monthly payment on a \u00a3150,000 mortgage rose by \u00a3100." } }, { "@type": "Question", "name": "How does Conversation Intelligence support oversight?", "acceptedAnswer": { "@type": "Answer", "text": "Conversation Intelligence records and segments 100% of customer interactions by topic, scores calls and helps teams focus on risk points." } }, { "@type": "Question", "name": "How much extra review capacity is possible?", "acceptedAnswer": { "@type": "Answer", "text": "Firms can tackle up to 20 times more high-risk calls per day with the same personnel." } } ] } ] } ``` ### Consumer Duty: what we know so far and how next-generation RegTech can ease the compliance burden - URL: https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/ - Published: 2022-07-14 - Modified: 2026-10-09 **Topic:** Consumer Duty RegTech Consumer Duty increases expectations for consumer protection, governance and outcomes monitoring. Firms need to review customer journeys, complaints handling and interaction evidence while using technology to support, not replace, compliance judgement. #### Key points - Consumer Duty moves beyond Treating Customers Fairly towards outcomes-focused governance. - The FCA expects firms to act in good faith, avoid foreseeable harm and support financial objectives. - Firms should review customer journeys, communications, governance and complaints handling. - RegTech can help monitor interactions, maintain records and identify risks. Beyond simply treating customers fairly, the [FCA](https://www.fca.org.uk/) will now expect regulated businesses to take a more proactive role in helping customers reach their financial goals, envisioning a market where businesses ‘compete vigorously in the interests of consumers’. Firms will therefore need to ensure consumers’ best interests and wellbeing are placed at the heart of each aspect of the business lifecycle – from the initial product development phase right through to how customer service interactions are handled on a day-to-day basis. #### What does the Consumer Duty hope to achieve? In many ways, a more forceful reboot of the existing ‘Treating Customers Fairly’ (TCF) guidance, the Consumer Duty will compel businesses to go beyond the current FCA handbook’s Principle 6 of ‘paying due regard’ to customers’ needs. And instead, it makes this the primary focus of all governance and decision making. It’s hoped this shift in priorities will lead to tangible improvements in the customer’s experience, as well as help the regulator achieve a number of its broader, long-held goals for the industry, including: - Raising and re-enforcing conduct standards - Ensuring products and services are truly ‘fit for purpose’ and provide fair value - Preventing customers from experiencing harm - Driving an outcomes-focussed approach to helping customers - Preventing sludge practices - Empowering consumers to participate in financial markets confidently - Supporting customers when navigating unfamiliar environments - Continuing the push for positive culture change - Championing Diversity & Inclusion within firms’ employee and customer bases - Restoring consumer trust in the financial services industry #### What are the FCA’s expectations for firms? Despite its significant ambition and clear step up in regulatory expectations, the FCA has confirmed it won’t be taking a prescriptive approach to how the Consumer Duty rules should be implemented. Instead, firms will be able to decide how they can be best applied to their own business model. However, the Cross Cutting Rules make it clear that businesses will be required to: 1. Act in good faith towards retail customers 2. Take reasonable steps to avoid causing foreseeable harm to retail customers 3. Take reasonable steps to enable and support retail customers to pursue their financial objectives > In preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. Start by putting yourself in the consumer’s shoes and ask the fundamental questions such as ‘do our products provide value for money?’, ‘are our communications clear, understandable and not misleading?’ and ‘as a customer, would I be happy to be treated in this manner?’ Beyond that, your internal governance processes will need reviewing to ensure they’re compliant with your new obligations. The same goes for your complaints handling procedures: for instance, do they genuinely go far enough to identify and address the root cause of adverse outcomes? > Start by putting yourself in the consumer’s shoes and ask the fundamental questions such as ‘do our products provide value for money?’, ‘are our communications clear, understandable and not misleading?’ and ‘as a customer, would I be happy to be treated in this manner?’ Indeed, it’s clear that the FCA is expecting firms to step up the amount of process and outcomes monitoring they conduct on an ongoing basis. Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers – whether it’s a specific product or service, ambiguous marketing messaging or inefficient communications channels. And so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy. #### Easing the compliance burden with next-generation RegTech It’s no secret that implementing the Consumer Duty will require a lot of time and effort for even the most well-prepared business. And once the implementation phase has passed, staying on top of your obligations is likely to add a considerable strain to already-busy compliance teams. That’s why firms are increasingly looking to the power of innovative technologies and RegTech to relieve the pressure. By using AI, machine learning and smart automation, you can free up valuable human resources for where it’s truly needed, maintain a complete record of client interactions and benefit from an extra line of defence against human error. With Recordsure’s specialist speech and document analytics platforms, you can: 1. Ensure processes adherence and regulatory compliance 2. Catch emerging risks early 3. Keep an automatic audit trail 4. Futureproof your business activities > In preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. Start by putting yourself in the consumer’s shoes and ask the fundamental questions such as ‘do our products provide value for money?’, ‘are our communications clear, understandable and not misleading?’ and ‘as a customer, would I be happy to be treated in this manner?’ Beyond that, your internal governance processes will need reviewing to ensure they’re compliant with your new obligations. The same goes for your complaints handling procedures: for instance, do they genuinely go far enough to identify and address the root cause of adverse outcomes? Indeed, it’s clear that the FCA is expecting firms to step up the amount of process and outcomes monitoring they conduct on an ongoing basis. Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers – whether it’s a specific product or service, ambiguous marketing messaging or inefficient communications channels. And so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy. #### Supporting sources - [Financial Conduct Authority](https://www.fca.org.uk/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Consumer Duty: what we know so far and how next-generation RegTech can ease the compliance burden", "item": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/", "name": "Consumer Duty: what we know so far and how next-generation RegTech can ease the compliance burden", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-07-14T19:10:01+01:00", "dateModified": "2023-09-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-09-29" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Consumer Duty: what we know so far and how next-generation RegTech can ease the compliance burden", "datePublished": "2022-07-14T19:10:01+01:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1df46901eb6b4046ae1b1e05093eb05a/thumbnail-1024-9ea9841d643e307012e4c20177f8b3275694fcc7610a537efe849e24ad91a3c3.jpg", "description": "Consumer Duty puts customer outcomes at the centre of governance, monitoring and service design, with RegTech helping firms evidence activity and identify risks.", "inLanguage": "en-GB", "articleBody": "Consumer Duty increases expectations for consumer protection, governance and outcomes monitoring. Firms need to review customer journeys, complaints handling and interaction evidence while using technology to support, not replace, compliance judgement.\n\nBeyond simply treating customers fairly, the FCA will now expect regulated businesses to take a more proactive role in helping customers reach their financial goals, envisioning a market where businesses \u2018compete vigorously in the interests of consumers\u2019.\n\nFirms will therefore need to ensure consumers\u2019 best interests and wellbeing are placed at the heart of each aspect of the business lifecycle \u2013 from the initial product development phase right through to how customer service interactions are handled on a day-to-day basis.\n\nWhat does the Consumer Duty hope to achieve?\n\nIn many ways, a more forceful reboot of the existing \u2018Treating Customers Fairly\u2019 (TCF) guidance, the Consumer Duty will compel businesses to go beyond the current FCA handbook\u2019s Principle 6 of \u2018paying due regard\u2019 to customers\u2019 needs. And instead, it makes this the primary focus of all governance and decision making.\n\nIt\u2019s hoped this shift in priorities will lead to tangible improvements in the customer\u2019s experience, as well as help the regulator achieve a number of its broader, long-held goals for the industry, including:\n\n\u2022 Raising and re-enforcing conduct standards\n\u2022 Ensuring products and services are truly \u2018fit for purpose\u2019 and provide fair value\n\u2022 Preventing customers from experiencing harm\n\u2022 Driving an outcomes-focussed approach to helping customers\n\u2022 Preventing sludge practices\n\u2022 Empowering consumers to participate in financial markets confidently\n\u2022 Supporting customers when navigating unfamiliar environments\n\u2022 Continuing the push for positive culture change\n\u2022 Championing Diversity & Inclusion within firms\u2019 employee and customer bases\n\u2022 Restoring consumer trust in the financial services industry\n\nWhat are the FCA\u2019s expectations for firms?\n\nDespite its significant ambition and clear step up in regulatory expectations, the FCA has confirmed it won\u2019t be taking a prescriptive approach to how the Consumer Duty rules should be implemented. Instead, firms will be able to decide how they can be best applied to their own business model.\n\nHowever, the Cross Cutting Rules make it clear that businesses will be required to:\n\n1. Act in good faith towards retail customers\n2. Take reasonable steps to avoid causing foreseeable harm to retail customers\n3. Take reasonable steps to enable and support retail customers to pursue their financial objectives\n\nIn preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. Start by putting yourself in the consumer\u2019s shoes and ask the fundamental questions such as \u2018do our products provide value for money?\u2019, \u2018are our communications clear, understandable and not misleading?\u2019 and \u2018as a customer, would I be happy to be treated in this manner?\u2019\n\nBeyond that, your internal governance processes will need reviewing to ensure they\u2019re compliant with your new obligations. The same goes for your complaints handling procedures: for instance, do they genuinely go far enough to identify and address the root cause of adverse outcomes?\n\nStart by putting yourself in the consumer\u2019s shoes and ask the fundamental questions such as \u2018do our products provide value for money?\u2019, \u2018are our communications clear, understandable and not misleading?\u2019 and \u2018as a customer, would I be happy to be treated in this manner?\u2019\n\nIndeed, it\u2019s clear that the FCA is expecting firms to step up the amount of process and outcomes monitoring they conduct on an ongoing basis. Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers \u2013 whether it\u2019s a specific product or service, ambiguous marketing messaging or inefficient communications channels.\n\nAnd so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy.\n\nEasing the compliance burden with next-generation RegTech\n\nIt\u2019s no secret that implementing the Consumer Duty will require a lot of time and effort for even the most well-prepared business. And once the implementation phase has passed, staying on top of your obligations is likely to add a considerable strain to already-busy compliance teams.\n\nThat\u2019s why firms are increasingly looking to the power of innovative technologies and RegTech to relieve the pressure. By using AI, machine learning and smart automation, you can free up valuable human resources for where it\u2019s truly needed, maintain a complete record of client interactions and benefit from an extra line of defence against human error.\n\nWith Recordsure\u2019s specialist speech and document analytics platforms, you can:\n\n1. Ensure processes adherence and regulatory compliance\n2. Catch emerging risks early\n3. Keep an automatic audit trail\n4. Futureproof your business activities\n\nIn preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. 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Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers \u2013 whether it\u2019s a specific product or service, ambiguous marketing messaging or inefficient communications channels.\n\nAnd so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy.", "wordCount": 982, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Consumer Duty RegTech" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Financial Conduct Authority", "url": "https://www.fca.org.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "inLanguage": "en-GB", "text": "Beyond simply treating customers fairly, the FCA will now expect regulated businesses to take a more proactive role in helping customers reach their financial goals, envisioning a market where businesses \u2018compete vigorously in the interests of consumers\u2019.\n\nFirms will therefore need to ensure consumers\u2019 best interests and wellbeing are placed at the heart of each aspect of the business lifecycle \u2013 from the initial product development phase right through to how customer service interactions are handled on a day-to-day basis." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "inLanguage": "en-GB", "headline": "What does the Consumer Duty hope to achieve?", "text": "In many ways, a more forceful reboot of the existing \u2018Treating Customers Fairly\u2019 (TCF) guidance, the Consumer Duty will compel businesses to go beyond the current FCA handbook\u2019s Principle 6 of \u2018paying due regard\u2019 to customers\u2019 needs. And instead, it makes this the primary focus of all governance and decision making.\n\nIt\u2019s hoped this shift in priorities will lead to tangible improvements in the customer\u2019s experience, as well as help the regulator achieve a number of its broader, long-held goals for the industry, including:\n\n\u2022 Raising and re-enforcing conduct standards\n\u2022 Ensuring products and services are truly \u2018fit for purpose\u2019 and provide fair value\n\u2022 Preventing customers from experiencing harm\n\u2022 Driving an outcomes-focussed approach to helping customers\n\u2022 Preventing sludge practices\n\u2022 Empowering consumers to participate in financial markets confidently\n\u2022 Supporting customers when navigating unfamiliar environments\n\u2022 Continuing the push for positive culture change\n\u2022 Championing Diversity & Inclusion within firms\u2019 employee and customer bases\n\u2022 Restoring consumer trust in the financial services industry" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "inLanguage": "en-GB", "headline": "What are the FCA\u2019s expectations for firms?", "text": "Despite its significant ambition and clear step up in regulatory expectations, the FCA has confirmed it won\u2019t be taking a prescriptive approach to how the Consumer Duty rules should be implemented. Instead, firms will be able to decide how they can be best applied to their own business model.\n\nHowever, the Cross Cutting Rules make it clear that businesses will be required to:\n\n1. Act in good faith towards retail customers\n2. Take reasonable steps to avoid causing foreseeable harm to retail customers\n3. Take reasonable steps to enable and support retail customers to pursue their financial objectives\n\nIn preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. Start by putting yourself in the consumer\u2019s shoes and ask the fundamental questions such as \u2018do our products provide value for money?\u2019, \u2018are our communications clear, understandable and not misleading?\u2019 and \u2018as a customer, would I be happy to be treated in this manner?\u2019\n\nBeyond that, your internal governance processes will need reviewing to ensure they\u2019re compliant with your new obligations. The same goes for your complaints handling procedures: for instance, do they genuinely go far enough to identify and address the root cause of adverse outcomes?\n\nStart by putting yourself in the consumer\u2019s shoes and ask the fundamental questions such as \u2018do our products provide value for money?\u2019, \u2018are our communications clear, understandable and not misleading?\u2019 and \u2018as a customer, would I be happy to be treated in this manner?\u2019\n\nIndeed, it\u2019s clear that the FCA is expecting firms to step up the amount of process and outcomes monitoring they conduct on an ongoing basis. Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers \u2013 whether it\u2019s a specific product or service, ambiguous marketing messaging or inefficient communications channels.\n\nAnd so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "inLanguage": "en-GB", "headline": "Easing the compliance burden with next-generation RegTech", "text": "It\u2019s no secret that implementing the Consumer Duty will require a lot of time and effort for even the most well-prepared business. And once the implementation phase has passed, staying on top of your obligations is likely to add a considerable strain to already-busy compliance teams.\n\nThat\u2019s why firms are increasingly looking to the power of innovative technologies and RegTech to relieve the pressure. By using AI, machine learning and smart automation, you can free up valuable human resources for where it\u2019s truly needed, maintain a complete record of client interactions and benefit from an extra line of defence against human error.\n\nWith Recordsure\u2019s specialist speech and document analytics platforms, you can:\n\n1. Ensure processes adherence and regulatory compliance\n2. Catch emerging risks early\n3. Keep an automatic audit trail\n4. Futureproof your business activities\n\nIn preparation, businesses should take another look at their end-to-end customer journey and assess how it could be improved to better serve their needs. Start by putting yourself in the consumer\u2019s shoes and ask the fundamental questions such as \u2018do our products provide value for money?\u2019, \u2018are our communications clear, understandable and not misleading?\u2019 and \u2018as a customer, would I be happy to be treated in this manner?\u2019\n\nBeyond that, your internal governance processes will need reviewing to ensure they\u2019re compliant with your new obligations. The same goes for your complaints handling procedures: for instance, do they genuinely go far enough to identify and address the root cause of adverse outcomes?\n\nIndeed, it\u2019s clear that the FCA is expecting firms to step up the amount of process and outcomes monitoring they conduct on an ongoing basis. Above all, the legislation will place the onus on businesses to be proactive in amending aspects of their business that yield unsatisfactory results for customers \u2013 whether it\u2019s a specific product or service, ambiguous marketing messaging or inefficient communications channels.\n\nAnd so, equipping yourself with the right tools to monitor, review and evidence customer interactions will invariably be a vital component of any successful Consumer Duty strategy." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/consumer-duty-how-next-generation-regtech-can-ease-the-compliance-burden/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does Consumer Duty aim to change?", "acceptedAnswer": { "@type": "Answer", "text": "Consumer Duty aims to raise consumer protection standards and make customer outcomes central to governance and decision-making." } }, { "@type": "Question", "name": "What do the Cross-Cutting Rules require?", "acceptedAnswer": { "@type": "Answer", "text": "They require firms to act in good faith, avoid foreseeable harm and support retail customers in pursuing their financial objectives." } }, { "@type": "Question", "name": "What should firms review for Consumer Duty?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should review customer journeys, product value, communications, governance and complaints handling." } }, { "@type": "Question", "name": "How can RegTech help?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech can help firms monitor interactions, maintain audit trails, identify emerging risks and support compliance teams with larger review volumes." } } ] } ] } ``` ### Recordsure Founder Joanne Smith to judge Women in GRC Awards 2022 - URL: https://recordsure.com/insights/news/recordsure-founder-joanne-smith-to-judge-women-in-grc-awards-2022/ - Published: 2022-05-24 - Modified: 2026-10-09 **Topic:** GRC awards Recordsure and TCC Group Founder and Executive Chair Joanne Smith was selected as a judge for the 2022 Women in GRC Awards. The awards recognise female GRC thought leaders, advocates, mentors and women-led companies. #### Key points - Joanne Smith was selected as a judge for the 2022 Women in GRC Awards. - The awards recognise female thought leaders, advocates and mentors across governance, risk and compliance. - The 2022 awards were expected to include more than 80 finalists across 18 categories. - Joanne joined the judging panel after winning GRC Innovator of the Year in the previous year’s proceedings. Recordsure and TCC Group Founder and Executive Chair Joanne Smith was selected as a judge at the 2022 Women in Governance, Risk and Compliance (GRC) Awards. [The event](https://www.grcworldforums.com/judges/joanne-smith/5511.article) recognises female thought leaders, advocates and mentors across the GRC sphere. It also highlights women-led companies and solutions that have made their mark over the past twelve months. #### Awards and judging panel The 2022 Women in GRC Awards was expected to see more than 80 finalists nominated across 18 award categories, covering achievement and excellence across major C-suite leadership positions. We’re honoured that [Joanne](https://www.grcworldforums.com/judges/joanne-smith/5511.article) has been invited back to join the [judging panel](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards/judges) after winning [GRC Innovator of the Year](/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/) during the previous year’s proceedings. The ceremony was scheduled to take place on 17th November in London. #### Supporting sources - [Joanne Smith judge profile](https://www.grcworldforums.com/judges/joanne-smith/5511.article) - [Women in GRC Awards judges](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards/judges) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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It also highlights women-led companies and solutions that have made their mark over the past twelve months." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-to-judge-women-in-grc-awards-2022/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-to-judge-women-in-grc-awards-2022/#webpage" }, "inLanguage": "en-GB", "headline": "Awards and judging panel", "text": "The 2022 Women in GRC Awards was expected to see more than 80 finalists nominated across 18 award categories, covering achievement and excellence across major C-suite leadership positions.\n\nWe\u2019re honoured that Joanne has been invited back to join the judging panel after winning GRC Innovator of the Year during the previous year\u2019s proceedings.\n\nThe ceremony was scheduled to take place on 17th November in London." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-to-judge-women-in-grc-awards-2022/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-to-judge-women-in-grc-awards-2022/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What role did Joanne Smith take in the 2022 Women in GRC Awards?", "acceptedAnswer": { "@type": "Answer", "text": "She was selected as one of the judges for the awards." } }, { "@type": "Question", "name": "What do the Women in GRC Awards recognise?", "acceptedAnswer": { "@type": "Answer", "text": "They recognise female thought leaders, advocates and mentors across governance, risk and compliance, as well as women-led companies and solutions." } }, { "@type": "Question", "name": "When was the ceremony scheduled?", "acceptedAnswer": { "@type": "Answer", "text": "The ceremony was scheduled to take place on 17th November in London." } } ] } ] } ``` ### Recordsure’s Joanne Smith awarded Innovator of the Year at UK FinTech Awards - URL: https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/ - Published: 2022-04-21 - Modified: 2026-10-09 **Topic:** FinTech award Recordsure and TCC Founder and Executive Chair Joanne Smith won Innovator of the Year at the UK FinTech Awards 2022. The award recognised her compliance expertise and work turning technology ideas into practical products. #### Key points - Joanne Smith won Innovator of the Year at the UK FinTech Awards 2022. - The awards celebrate achievements across the UK FinTech and RegTech sector. - The accolade followed Joanne’s Women in Governance, Risk and Compliance award the previous year. - Recordsure was also shortlisted for RegTech of the Year. We’re very pleased to announce that Recordsure and TCC Founder and Executive Chair Joanne Smith took home the title of Innovator of the Year at the UK FinTech Awards 2022! The [UK FinTech Awards](http://ukfintechawards.co.uk/) celebrate the many achievements and successes of the UK’s burgeoning FinTech and RegTech sector, reflecting the nation’s emerging status as one of the world’s most pre-eminent technology hubs. UK FinTech Awards said that Joanne’s passion for compliance and technological solutions to complex problems that arise is second to none, as is her talent for transforming good ideas into practical products. UK FinTech Awards #### Recognition for practical innovation Organised by market intelligence firm FinTech Intel, these prestigious awards are judged by a panel of independent experts from across the industry. For [Joanne](/meet-the-team/) to not only be shortlisted but take home the prize against fierce competition is a fantastic achievement – and serves as proof that Recordsure and [TCC](https://tcc.group/)’s forward-thinking approach to solving financial services’ biggest operational obstacles continues to strike a chord with our clients, partners and peers. I’m proud to have been named Innovator of the Year by the UK FinTech Awards. My approach has always been to listen to what customers are looking for in a solution and find the best technology to bridge that gap whilst providing real value. I’m incredibly proud of what we have achieved over the years – and to be recognised as an innovator within the RegTech sphere is a great honour. Joanne Smith, Founder and Executive Chair, Recordsure #### Further awards recognition This latest accolade follows Joanne’s receipt of the similarly titled [Innovator of the Year](/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/) at the Women in Governance, Risk and Compliance Awards last year. FinTech UK also shortlisted Recordsure for the [RegTech of the Year](/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/) award. [Click here](http://ukfintechawards.co.uk/2022-charity/) to learn more about how the UK FinTech Awards is supporting the [DEC Ukraine Humanitarian Appeal](https://www.dec.org.uk/appeal/ukraine-humanitarian-appeal). #### Supporting sources - [UK FinTech Awards](http://ukfintechawards.co.uk/) - [DEC Ukraine Humanitarian Appeal](https://www.dec.org.uk/appeal/ukraine-humanitarian-appeal) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The award recognised her compliance expertise and work turning technology ideas into practical products.\n\nWe\u2019re very pleased to announce that Recordsure and TCC Founder and Executive Chair Joanne Smith took home the title of Innovator of the Year at the UK FinTech Awards 2022!\n\nThe UK FinTech Awards celebrate the many achievements and successes of the UK\u2019s burgeoning FinTech and RegTech sector, reflecting the nation\u2019s emerging status as one of the world\u2019s most pre-eminent technology hubs.\n\nUK FinTech Awards said that\n\nJoanne\u2019s passion for compliance and technological solutions to complex problems that arise is second to none, as is her talent for transforming good ideas into practical products. UK FinTech Awards\n\nRecognition for practical innovation\n\nOrganised by market intelligence firm FinTech Intel, these prestigious awards are judged by a panel of independent experts from across the industry.\n\nFor Joanne to not only be shortlisted but take home the prize against fierce competition is a fantastic achievement \u2013 and serves as proof that Recordsure and TCC\u2019s forward-thinking approach to solving financial services\u2019 biggest operational obstacles continues to strike a chord with our clients, partners and peers.\n\nI\u2019m proud to have been named Innovator of the Year by the UK FinTech Awards.\n\nMy approach has always been to listen to what customers are looking for in a solution and find the best technology to bridge that gap whilst providing real value. I\u2019m incredibly proud of what we have achieved over the years \u2013 and to be recognised as an innovator within the RegTech sphere is a great honour. Joanne Smith, Founder and Executive Chair, Recordsure\n\nFurther awards recognition\n\nThis latest accolade follows Joanne\u2019s receipt of the similarly titled Innovator of the Year at the Women in Governance, Risk and Compliance Awards last year.\n\nFinTech UK also shortlisted Recordsure for the RegTech of the Year award.\n\nClick here to learn more about how the UK FinTech Awards is supporting the DEC Ukraine Humanitarian Appeal.", "wordCount": 341, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FinTech award" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "UK FinTech Awards", "url": "http://ukfintechawards.co.uk/" }, { "@type": "CreativeWork", "name": "DEC Ukraine Humanitarian Appeal", "url": "https://www.dec.org.uk/appeal/ukraine-humanitarian-appeal" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#webpage" }, "inLanguage": "en-GB", "text": "We\u2019re very pleased to announce that Recordsure and TCC Founder and Executive Chair Joanne Smith took home the title of Innovator of the Year at the UK FinTech Awards 2022!\n\nThe UK FinTech Awards celebrate the many achievements and successes of the UK\u2019s burgeoning FinTech and RegTech sector, reflecting the nation\u2019s emerging status as one of the world\u2019s most pre-eminent technology hubs.\n\nUK FinTech Awards said that\n\nJoanne\u2019s passion for compliance and technological solutions to complex problems that arise is second to none, as is her talent for transforming good ideas into practical products. UK FinTech Awards" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#webpage" }, "inLanguage": "en-GB", "headline": "Recognition for practical innovation", "text": "Organised by market intelligence firm FinTech Intel, these prestigious awards are judged by a panel of independent experts from across the industry.\n\nFor Joanne to not only be shortlisted but take home the prize against fierce competition is a fantastic achievement \u2013 and serves as proof that Recordsure and TCC\u2019s forward-thinking approach to solving financial services\u2019 biggest operational obstacles continues to strike a chord with our clients, partners and peers.\n\nI\u2019m proud to have been named Innovator of the Year by the UK FinTech Awards.\n\nMy approach has always been to listen to what customers are looking for in a solution and find the best technology to bridge that gap whilst providing real value. I\u2019m incredibly proud of what we have achieved over the years \u2013 and to be recognised as an innovator within the RegTech sphere is a great honour. Joanne Smith, Founder and Executive Chair, Recordsure" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#webpage" }, "inLanguage": "en-GB", "headline": "Further awards recognition", "text": "This latest accolade follows Joanne\u2019s receipt of the similarly titled Innovator of the Year at the Women in Governance, Risk and Compliance Awards last year.\n\nFinTech UK also shortlisted Recordsure for the RegTech of the Year award.\n\nClick here to learn more about how the UK FinTech Awards is supporting the DEC Ukraine Humanitarian Appeal." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-awarded-innovator-of-the-year-prize-at-uk-fintech-awards/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What award did Joanne Smith win?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith won Innovator of the Year at the UK FinTech Awards 2022." } }, { "@type": "Question", "name": "Who organises the UK FinTech Awards?", "acceptedAnswer": { "@type": "Answer", "text": "Market intelligence firm FinTech Intel organises the awards, which are judged by independent industry experts." } }, { "@type": "Question", "name": "What other recognition was included?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne\u2019s previous Innovator of the Year award at the Women in Governance, Risk and Compliance Awards and Recordsure\u2019s RegTech of the Year shortlisting were also recognised." } } ] } ] } ``` ### How RegTech is restoring consumer trust in financial services - URL: https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/ - Published: 2022-03-29 - Modified: 2026-10-09 **Topic:** RegTech trust Recordsure’s voice and document analytics support compliance monitoring, customer protection and operational agility, helping firms review advice and compliance at speed and scale. #### Key points - Recordsure was launched to improve customer care and industry quality standards. - Its voice and document analytics support compliance challenges across financial services. - Joe Norburn said firms need advanced technology to review advice and compliance at speed. - Recordsure tools analyse 100% of customer interactions and document evidence. - Recordsure plans continued investment in RegTech solutions for compliance and customer protection. Established as the UK’s Most Innovative RegTech Solutions Company, Recordsure was launched with the mission to redefine customer care – raising standards and exceeding expectations for what regulators, organisations and consumers assume to be industry level quality. Using bespoke AI technology, Recordsure’s voice and document analytics solutions support and service industry-wide challenges and protect customers most notably. Accredited as the multi-award-winning business used by Banks, Private Banking and Wealth Management Firms, Insurers and Government services, Recordsure offers unique solutions that have given the company the recognition of success for over ten years. What makes the company so impressive and able to achieve such respect within the industry is its imminent focus, dedicated to a specific sector of clients encompassed within the financial services sector. Furthermore, Recordsure’s Transcription and Machine Learning (ML) models are trained specifically on the language and data from that industry domain. CEO [Joe Norburn](https://www.linkedin.com/in/joenorburn/) details the company’s individuality and unique offerings by stating, “We understand our client’s problem statements and work hard to create solutions that work for our clients and across the industry. “The breadth of our product offering is unique – we provide compliance monitoring solutions across recorded conversations and case file documentation. This truly sets us apart from others because we can cover and analyse every interaction, spoken and written between firms and their clients.” Since its establishment, Recordsure has developed technology-led solutions that have made a transformational impact within the industry. Recordsure was founded as a response to the financial crisis, which subsequently impacted consumer perception of the financial services industry. Thus, imploring the concept that the sector was mis-selling and allowed unethical practices that destroyed confidence and trust. However, Recordsure’s established a vision to override this insight by offering innovative RegTech tools to support firms whilst bolstering consumer trust. Overall, creating an industry that works to benefit everyone involved. Joe explains this theory further by stating: Very early on, we recognised the urgency to address the industry issues and the pressure on firms from the regulators to review their operations and processes. It’s become clear that firms need advanced technology tools to tackle reviews efficiently and within set timescales. At the time, the industry lacked an analytic technology solution for reviewing advice and compliance at speed and scale – so we built it. Joe Norburn, Group CEO, Recordsure & TCC Recordsure is renowned for its unique service offering. Its team’s combination and collaboration of financial experience, compliance, and innovative technology have driven its vision and mission to address the industry challenges. This was handled by launching the market-first [AI-driven RegTech platform](/), as Joe explains, “Using pioneering Recordsure-built AI technology, Recordsure tools are powerful. Our proprietary AI-driven speech analytics tools record, review and analyse 100% of customer interactions. We remove blind spots to ensure compliance, reduce risk and drive fair customer treatment. Our document analytics is a clever combination of Robotic Process Automation coupled with Optical Character Recognition and Machine Learning, boasting 97% AI accuracy.” Overall, with the latest technological advances combined with the company’s expertise, Recordsure provided unmatched results in delivering accuracy across the industry and amongst competitors. However, due to several surging impacts due to Covid-19, climate change, and social responsibility, general advancements in digital technology have been subsequently changed throughout the industry, affecting the expectations that customers demand from their providers. With this comes the desire for digital convenience, which is why digital technology should be at the centre of everything firms do – allowing businesses to serve their customers better and enhance their experiences. Joe pulls from this point by saying: We help firms keep ahead of the competition and provide agility when responding to changes in customer or market demand. With our tools, clients can efficiently scale up or down their operations for individual customer-facing departments when needed, responding to the ever-changing environments. Joe Norburn, Group CEO, Recordsure & TCC Moreover, considering the firm’s future, Recordsure’s plan is to continue to invest in its team – working together closely to pioneer innovative RegTech solutions that support compliance and deliver value for its clients. Overall, Recordsure will provide better value compliance support and customer protection to the industry for 2022 and every year after. *Originally appeared in [Acquisition International’s March issue](https://www.acquisition-international.com/issues/issue-3-2022/18/).* #### Supporting sources - [Acquisition International March issue](https://www.acquisition-international.com/issues/issue-3-2022/18/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How RegTech is restoring consumer trust in financial services", "item": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#webpage", "url": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/", "name": "How RegTech is restoring consumer trust in financial services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-03-29T13:19:52+01:00", "dateModified": "2022-03-29T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-03-29" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How RegTech is restoring consumer trust in financial services", "datePublished": "2022-03-29T13:19:52+01:00", "dateModified": "2026-10-09T04:50:35+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8d84ce24e4704f6cb20b4ef1bbadba36/thumbnail-1024-b8087498bf6e4f5289431e5d42f670ec152ea33a07fad39c0546fcfb301e6280.jpg", "description": "Recordsure CEO Joe Norburn discussed with Acquisition International how RegTech helps firms review advice and compliance at speed and scale.", "inLanguage": "en-GB", "articleBody": "Recordsure\u2019s voice and document analytics support compliance monitoring, customer protection and operational agility, helping firms review advice and compliance at speed and scale.\n\nEstablished as the UK\u2019s Most Innovative RegTech Solutions Company, Recordsure was launched with the mission to redefine customer care \u2013 raising standards and exceeding expectations for what regulators, organisations and consumers assume to be industry level quality. Using bespoke AI technology, Recordsure\u2019s voice and document analytics solutions support and service industry-wide challenges and protect customers most notably.\n\nAccredited as the multi-award-winning business used by Banks, Private Banking and Wealth Management Firms, Insurers and Government services, Recordsure offers unique solutions that have given the company the recognition of success for over ten years.\n\nWhat makes the company so impressive and able to achieve such respect within the industry is its imminent focus, dedicated to a specific sector of clients encompassed within the financial services sector. Furthermore, Recordsure\u2019s Transcription and Machine Learning (ML) models are trained specifically on the language and data from that industry domain.\n\nCEO Joe Norburn details the company\u2019s individuality and unique offerings by stating, \u201cWe understand our client\u2019s problem statements and work hard to create solutions that work for our clients and across the industry.\n\n\u201cThe breadth of our product offering is unique \u2013 we provide compliance monitoring solutions across recorded conversations and case file documentation. This truly sets us apart from others because we can cover and analyse every interaction, spoken and written between firms and their clients.\u201d\n\nSince its establishment, Recordsure has developed technology-led solutions that have made a transformational impact within the industry. Recordsure was founded as a response to the financial crisis, which subsequently impacted consumer perception of the financial services industry. Thus, imploring the concept that the sector was mis-selling and allowed unethical practices that destroyed confidence and trust.\n\nHowever, Recordsure\u2019s established a vision to override this insight by offering innovative RegTech tools to support firms whilst bolstering consumer trust. Overall, creating an industry that works to benefit everyone involved.\n\nJoe explains this theory further by stating:\n\nVery early on, we recognised the urgency to address the industry issues and the pressure on firms from the regulators to review their operations and processes. It\u2019s become clear that firms need advanced technology tools to tackle reviews efficiently and within set timescales. At the time, the industry lacked an analytic technology solution for reviewing advice and compliance at speed and scale \u2013 so we built it. Joe Norburn, Group CEO, Recordsure & TCC\n\nRecordsure is renowned for its unique service offering. Its team\u2019s combination and collaboration of financial experience, compliance, and innovative technology have driven its vision and mission to address the industry challenges.\n\nThis was handled by launching the market-first AI-driven RegTech platform, as Joe explains, \u201cUsing pioneering Recordsure-built AI technology, Recordsure tools are powerful. Our proprietary AI-driven speech analytics tools record, review and analyse 100% of customer interactions. We remove blind spots to ensure compliance, reduce risk and drive fair customer treatment. Our document analytics is a clever combination of Robotic Process Automation coupled with Optical Character Recognition and Machine Learning, boasting 97% AI accuracy.\u201d\n\nOverall, with the latest technological advances combined with the company\u2019s expertise, Recordsure provided unmatched results in delivering accuracy across the industry and amongst competitors.\n\nHowever, due to several surging impacts due to Covid-19, climate change, and social responsibility, general advancements in digital technology have been subsequently changed throughout the industry, affecting the expectations that customers demand from their providers.\n\nWith this comes the desire for digital convenience, which is why digital technology should be at the centre of everything firms do \u2013 allowing businesses to serve their customers better and enhance their experiences.\n\nJoe pulls from this point by saying:\n\nWe help firms keep ahead of the competition and provide agility when responding to changes in customer or market demand. With our tools, clients can efficiently scale up or down their operations for individual customer-facing departments when needed, responding to the ever-changing environments. Joe Norburn, Group CEO, Recordsure & TCC\n\nMoreover, considering the firm\u2019s future, Recordsure\u2019s plan is to continue to invest in its team \u2013 working together closely to pioneer innovative RegTech solutions that support compliance and deliver value for its clients. Overall, Recordsure will provide better value compliance support and customer protection to the industry for 2022 and every year after.\n\nOriginally appeared in Acquisition International\u2019s March issue.", "wordCount": 725, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech trust" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#analysis-1" } ], "citation": [ { "@type": "CreativeWork", "name": "Acquisition International March issue", "url": "https://www.acquisition-international.com/issues/issue-3-2022/18/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "Established as the UK\u2019s Most Innovative RegTech Solutions Company, Recordsure was launched with the mission to redefine customer care \u2013 raising standards and exceeding expectations for what regulators, organisations and consumers assume to be industry level quality. Using bespoke AI technology, Recordsure\u2019s voice and document analytics solutions support and service industry-wide challenges and protect customers most notably.\n\nAccredited as the multi-award-winning business used by Banks, Private Banking and Wealth Management Firms, Insurers and Government services, Recordsure offers unique solutions that have given the company the recognition of success for over ten years.\n\nWhat makes the company so impressive and able to achieve such respect within the industry is its imminent focus, dedicated to a specific sector of clients encompassed within the financial services sector. Furthermore, Recordsure\u2019s Transcription and Machine Learning (ML) models are trained specifically on the language and data from that industry domain.\n\nCEO Joe Norburn details the company\u2019s individuality and unique offerings by stating, \u201cWe understand our client\u2019s problem statements and work hard to create solutions that work for our clients and across the industry.\n\n\u201cThe breadth of our product offering is unique \u2013 we provide compliance monitoring solutions across recorded conversations and case file documentation. This truly sets us apart from others because we can cover and analyse every interaction, spoken and written between firms and their clients.\u201d\n\nSince its establishment, Recordsure has developed technology-led solutions that have made a transformational impact within the industry. Recordsure was founded as a response to the financial crisis, which subsequently impacted consumer perception of the financial services industry. Thus, imploring the concept that the sector was mis-selling and allowed unethical practices that destroyed confidence and trust.\n\nHowever, Recordsure\u2019s established a vision to override this insight by offering innovative RegTech tools to support firms whilst bolstering consumer trust. Overall, creating an industry that works to benefit everyone involved.\n\nJoe explains this theory further by stating:\n\nVery early on, we recognised the urgency to address the industry issues and the pressure on firms from the regulators to review their operations and processes. It\u2019s become clear that firms need advanced technology tools to tackle reviews efficiently and within set timescales. At the time, the industry lacked an analytic technology solution for reviewing advice and compliance at speed and scale \u2013 so we built it. Joe Norburn, Group CEO, Recordsure & TCC\n\nRecordsure is renowned for its unique service offering. Its team\u2019s combination and collaboration of financial experience, compliance, and innovative technology have driven its vision and mission to address the industry challenges.\n\nThis was handled by launching the market-first AI-driven RegTech platform, as Joe explains, \u201cUsing pioneering Recordsure-built AI technology, Recordsure tools are powerful. Our proprietary AI-driven speech analytics tools record, review and analyse 100% of customer interactions. We remove blind spots to ensure compliance, reduce risk and drive fair customer treatment. Our document analytics is a clever combination of Robotic Process Automation coupled with Optical Character Recognition and Machine Learning, boasting 97% AI accuracy.\u201d\n\nOverall, with the latest technological advances combined with the company\u2019s expertise, Recordsure provided unmatched results in delivering accuracy across the industry and amongst competitors.\n\nHowever, due to several surging impacts due to Covid-19, climate change, and social responsibility, general advancements in digital technology have been subsequently changed throughout the industry, affecting the expectations that customers demand from their providers.\n\nWith this comes the desire for digital convenience, which is why digital technology should be at the centre of everything firms do \u2013 allowing businesses to serve their customers better and enhance their experiences.\n\nJoe pulls from this point by saying:\n\nWe help firms keep ahead of the competition and provide agility when responding to changes in customer or market demand. With our tools, clients can efficiently scale up or down their operations for individual customer-facing departments when needed, responding to the ever-changing environments. Joe Norburn, Group CEO, Recordsure & TCC\n\nMoreover, considering the firm\u2019s future, Recordsure\u2019s plan is to continue to invest in its team \u2013 working together closely to pioneer innovative RegTech solutions that support compliance and deliver value for its clients. Overall, Recordsure will provide better value compliance support and customer protection to the industry for 2022 and every year after.\n\nOriginally appeared in Acquisition International\u2019s March issue." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/regtech-is-restoring-consumer-trust-in-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What challenge was Recordsure created to address?", "acceptedAnswer": { "@type": "Answer", "text": "It was founded in response to industry issues after the financial crisis, including pressure to review operations and processes and rebuild consumer trust." } }, { "@type": "Question", "name": "What does Recordsure\u2019s product offering cover?", "acceptedAnswer": { "@type": "Answer", "text": "It covers compliance monitoring across recorded conversations and case file documentation, analysing spoken and written interactions." } }, { "@type": "Question", "name": "What level of interaction analysis does Recordsure provide?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s speech analytics tools record, review and analyse 100% of customer interactions." } }, { "@type": "Question", "name": "What document analytics accuracy is cited?", "acceptedAnswer": { "@type": "Answer", "text": "Document analytics combines Robotic Process Automation, Optical Character Recognition and Machine Learning, with 97% AI accuracy cited." } } ] } ] } ``` ### How digital transformation can streamline your compliance process - URL: https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/ - Published: 2022-03-29 - Modified: 2022-03-29 **Topic:** RegTech transformation With more FCA rules and guidance on the way, RegTech and digital transformation help firms keep pace in three ways: simplifying compliance and assuring quality, opening up a more efficient way of working, and codifying best practice within workflows. #### Key points - The Consumer Duty, an expanded Appointed Representatives regime and the FCA’s Consumer Investments Strategy bring a lot of new rules and guidance for FCA-regulated firms. - Around 65% of private banks, retail asset managers and broker-dealers are investing in process automation; 52% in smart data and analytics; 46% are exploring compliance platforms. - Speech analytics that transcribes and segments 100% of client conversations simplifies compliance evidencing and focuses reviewers on high-risk interactions. - Automating time-consuming file checks increases the number of checks without scaling up human resource, freeing assurance teams for expert work. - Case management workflows codify best practice, so HR teams can complete SMCR processes at speed without overlooking regulatory requirements. United by the principle of ensuring firms do their part to provide a fair and transparent service for clients, regulators around the world have signalled their intent to continue strengthening consumer protections and raising standards further over the next few years. And between the incoming [Consumer Duty](https://www.fca.org.uk/publication/consultation/cp21-36.pdf), the [expansion of the Appointed Representatives regime](https://www.fca.org.uk/publication/consultation/cp21-34.pdf) and the planned harm reduction measures laid out in the FCA’s [Consumer Investments Strategy](https://www.fca.org.uk/publications/corporate-documents/consumer-investments-strategy), FCA-regulated firms in particular have a lot of new rules and guidance coming their way. In fact, one in three businesses polled during the recent [Wealth and Asset Management 4.0 research project](https://tcc.group/blog/2021/11/04/tcc-recordsure-global-wealth-asset-management-study-post-pandemic-changes/) felt that risk management regulations are likely to increase within the next two years. ***So how can firms make sure they’re equipped to deal with these extra responsibilities?*** As a FinTech innovator with decades of experience in driving transformation within financial services, Group Chief Commercial Officer [Mark Hover](https://www.linkedin.com/in/mark-hover-92b3222/) knows the radical impact that RegTech can have on the efficiency, accuracy and overall standard of your compliance activities. Here, he explains why there’s never been a better time for firms to make the leap. #### New challenges require new solutions With so many new regulatory changes on the horizon, staying on top of compliance manually can quickly become unmanageable for even the most experienced teams. That’s why more and more businesses are turning to intelligent solutions and advanced technologies to help staff handle the day-to-day realities of maintaining standards. The latest figures show private banks, retail asset managers and broker-dealer firms are leading the charge for this technological revolution. More than half of these organisations have self-reported to be in the mid-implementation or advanced stages of digital development. In particular, around 65% say they’re now investing in process automation systems. Meanwhile, 52% are pouring resource into smart data and analytics, and 46% are actively exploring tech-powered compliance platforms. RegTech isn’t just a fad – it’s quickly becoming a must-have in the fast-moving world of financial services. #### Optimise your processes from end to end Firms that have already made the switch have experienced first-hand the impact digital transformation can have on both compliance and productivity. Maybe you’re looking to automate file reviews, which we all know can be admin-heavy and time-consuming. Or maybe you need a workflow tool to help your teams manage the never-ending to-do list for SMCR, and reduce the risk of accidentally missing a crucial deadline. Perhaps you want to tap into valuable MI so you can manage your processes more effectively and aid supervisory oversight. Whatever you’re looking for, there’s a whole inventory of smart solutions now raising the bar for what’s possible without increasing the burden on your team. #### 1\. Simplify compliance and assure quality Compliance has come a long way since the days of filing cabinets full of case files. But even with the added convenience of digitisation, creating and maintaining a complete and organised set of client records can all too often turn into an uphill battle without the right tools. Record filing aside, ensuring compliance and quality of advice is not a simple one-off task. When engaging in customer conversations, you need to take proactive steps to make sure that customers are treated fairly at all times – with advisers adhering to quality assurance processes and best practice. Using AI and machine learning technologies, our [Conversation Intelligence](/conversation-intelligence/) speech analytics transcribes and segments 100% of your client conversations – bringing clarity and consistency to regulatory evidencing, and to compliance monitoring and review. AI technology also focuses reviewers’ attention on high-risk customer interactions – making your quality reviews quicker and more efficient – and offers actionable insights to help mitigate risks. With all your client-facing interaction records at your fingertips, it’s easier than ever to ensure that all instances of customer advice are of the same high standard and drive better customer outcomes. And not only that: the comprehensive record of past conversations is an invaluable tool for advisers and their supervisors – allowing them to self-critique their performance, whilst enabling firms to upskill teams and improve future customer interactions. #### 2\. Open up a more efficient way of working There’s no two ways about it – file checking has always been a meticulous and labour-intensive process. But it doesn’t have to be this way. Thanks to new solutions, it’s now possible to reduce the resource-hours required for reviewing even the most complex files – without sacrificing accuracy. Our [Document Intelligence](/document-intelligence/) solution, for example, automates some of the most time-consuming file checking tasks. It frees up valuable time for your assurance teams to focus on the areas where their expertise is needed most. By increasing the number of checks carried out without scaling up human resource, it provides transparency, precision and efficiency throughout the project lifecycle. The same technology also forms the basis for [TCC](https://tcc.group/)’s [High-Performance Assurance](https://tcc.group/managed-services/business-assurance/) platform, offering comprehensive MI to enhance your audit trail and keep the regulator satisfied without spending hours collating evidence as you work. Not only does this streamlined workflow allow projects to be completed at speed, but your budget will stretch further too. #### 3\. Codify best practice within workflows The best RegTech systems are developed in close collaboration with those who know the FCA’s expectations inside out – and are therefore designed to make best practice second nature to the teams using them. Take SMCR, for example. We know many HR teams manage the day-to-day administration of certain processes, like Fitness & Propriety assessments. Yet they simply don’t have the regulatory knowledge to know what to do with an irregular case, for instance. Many platforms now provide case management workflows that guide users through each step of the process in sequence. By outlining exactly what’s required, in a process that can’t be deviated from, HR can get the job done at speed – while Compliance can be sure that important regulatory requirements haven’t been overlooked. Given that research suggests 30% of firms think more rules around conduct and individual accountability are imminent, businesses need a dependable process to manage this effectively. [TCC](https://tcc.group/)’s SMCR Pro, for example, helps firms to embed compliance into the way the business operates and drive a healthy culture, knowing their staff are fit and proper. #### Supporting sources - [FCA consultation paper CP21/36 on the new Consumer Duty](https://www.fca.org.uk/publication/consultation/cp21-36.pdf) - [FCA consultation paper CP21/34 on the Appointed Representatives regime](https://www.fca.org.uk/publication/consultation/cp21-34.pdf) - [FCA Consumer Investments Strategy](https://www.fca.org.uk/publications/corporate-documents/consumer-investments-strategy) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Commercial Officer Mark Hover explains three ways RegTech and digital transformation help firms keep pace with new FCA rules: simplifying compliance and assuring quality, working more efficiently and codifying best practice.", "inLanguage": "en-GB", "articleBody": "With more FCA rules and guidance on the way, RegTech and digital transformation help firms keep pace in three ways: simplifying compliance and assuring quality, opening up a more efficient way of working, and codifying best practice within workflows.\n\nUnited by the principle of ensuring firms do their part to provide a fair and transparent service for clients, regulators around the world have signalled their intent to continue strengthening consumer protections and raising standards further over the next few years.\n\nAnd between the incoming Consumer Duty, the expansion of the Appointed Representatives regime and the planned harm reduction measures laid out in the FCA\u2019s Consumer Investments Strategy, FCA-regulated firms in particular have a lot of new rules and guidance coming their way.\n\nIn fact, one in three businesses polled during the recent Wealth and Asset Management 4.0 research project felt that risk management regulations are likely to increase within the next two years.\n\nSo how can firms make sure they\u2019re equipped to deal with these extra responsibilities?\n\nAs a FinTech innovator with decades of experience in driving transformation within financial services, Group Chief Commercial Officer Mark Hover knows the radical impact that RegTech can have on the efficiency, accuracy and overall standard of your compliance activities.\n\nHere, he explains why there\u2019s never been a better time for firms to make the leap.\n\nNew challenges require new solutions\n\nWith so many new regulatory changes on the horizon, staying on top of compliance manually can quickly become unmanageable for even the most experienced teams. That\u2019s why more and more businesses are turning to intelligent solutions and advanced technologies to help staff handle the day-to-day realities of maintaining standards.\n\nThe latest figures show private banks, retail asset managers and broker-dealer firms are leading the charge for this technological revolution. More than half of these organisations have self-reported to be in the mid-implementation or advanced stages of digital development.\n\nIn particular, around 65% say they\u2019re now investing in process automation systems. Meanwhile, 52% are pouring resource into smart data and analytics, and 46% are actively exploring tech-powered compliance platforms.\n\nRegTech isn\u2019t just a fad \u2013 it\u2019s quickly becoming a must-have in the fast-moving world of financial services.\n\nOptimise your processes from end to end\n\nFirms that have already made the switch have experienced first-hand the impact digital transformation can have on both compliance and productivity.\n\nMaybe you\u2019re looking to automate file reviews, which we all know can be admin-heavy and time-consuming. Or maybe you need a workflow tool to help your teams manage the never-ending to-do list for SMCR, and reduce the risk of accidentally missing a crucial deadline. Perhaps you want to tap into valuable MI so you can manage your processes more effectively and aid supervisory oversight.\n\nWhatever you\u2019re looking for, there\u2019s a whole inventory of smart solutions now raising the bar for what\u2019s possible without increasing the burden on your team.\n\n1. Simplify compliance and assure quality\n\nCompliance has come a long way since the days of filing cabinets full of case files. But even with the added convenience of digitisation, creating and maintaining a complete and organised set of client records can all too often turn into an uphill battle without the right tools.\n\nRecord filing aside, ensuring compliance and quality of advice is not a simple one-off task. When engaging in customer conversations, you need to take proactive steps to make sure that customers are treated fairly at all times \u2013 with advisers adhering to quality assurance processes and best practice.\n\nUsing AI and machine learning technologies, our Conversation Intelligence speech analytics transcribes and segments 100% of your client conversations \u2013 bringing clarity and consistency to regulatory evidencing, and to compliance monitoring and review. AI technology also focuses reviewers\u2019 attention on high-risk customer interactions \u2013 making your quality reviews quicker and more efficient \u2013 and offers actionable insights to help mitigate risks.\n\nWith all your client-facing interaction records at your fingertips, it\u2019s easier than ever to ensure that all instances of customer advice are of the same high standard and drive better customer outcomes. And not only that: the comprehensive record of past conversations is an invaluable tool for advisers and their supervisors \u2013 allowing them to self-critique their performance, whilst enabling firms to upskill teams and improve future customer interactions.\n\n2. Open up a more efficient way of working\n\nThere\u2019s no two ways about it \u2013 file checking has always been a meticulous and labour-intensive process. But it doesn\u2019t have to be this way. Thanks to new solutions, it\u2019s now possible to reduce the resource-hours required for reviewing even the most complex files \u2013 without sacrificing accuracy.\n\nOur Document Intelligence solution, for example, automates some of the most time-consuming file checking tasks. It frees up valuable time for your assurance teams to focus on the areas where their expertise is needed most. By increasing the number of checks carried out without scaling up human resource, it provides transparency, precision and efficiency throughout the project lifecycle.\n\nThe same technology also forms the basis for TCC\u2019s High-Performance Assurance platform, offering comprehensive MI to enhance your audit trail and keep the regulator satisfied without spending hours collating evidence as you work.\n\nNot only does this streamlined workflow allow projects to be completed at speed, but your budget will stretch further too.\n\n3. Codify best practice within workflows\n\nThe best RegTech systems are developed in close collaboration with those who know the FCA\u2019s expectations inside out \u2013 and are therefore designed to make best practice second nature to the teams using them.\n\nTake SMCR, for example. We know many HR teams manage the day-to-day administration of certain processes, like Fitness & Propriety assessments. Yet they simply don\u2019t have the regulatory knowledge to know what to do with an irregular case, for instance.\n\nMany platforms now provide case management workflows that guide users through each step of the process in sequence. By outlining exactly what\u2019s required, in a process that can\u2019t be deviated from, HR can get the job done at speed \u2013 while Compliance can be sure that important regulatory requirements haven\u2019t been overlooked.\n\nGiven that research suggests 30% of firms think more rules around conduct and individual accountability are imminent, businesses need a dependable process to manage this effectively. TCC\u2019s SMCR Pro, for example, helps firms to embed compliance into the way the business operates and drive a healthy culture, knowing their staff are fit and proper.", "wordCount": 1066, "keywords": [ "Banking", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech transformation" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA consultation paper CP21/36 on the new Consumer Duty", "url": "https://www.fca.org.uk/publication/consultation/cp21-36.pdf" }, { "@type": "CreativeWork", "name": "FCA consultation paper CP21/34 on the Appointed Representatives regime", "url": "https://www.fca.org.uk/publication/consultation/cp21-34.pdf" }, { "@type": "CreativeWork", "name": "FCA Consumer Investments Strategy", "url": "https://www.fca.org.uk/publications/corporate-documents/consumer-investments-strategy" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "text": "United by the principle of ensuring firms do their part to provide a fair and transparent service for clients, regulators around the world have signalled their intent to continue strengthening consumer protections and raising standards further over the next few years.\n\nAnd between the incoming Consumer Duty, the expansion of the Appointed Representatives regime and the planned harm reduction measures laid out in the FCA\u2019s Consumer Investments Strategy, FCA-regulated firms in particular have a lot of new rules and guidance coming their way.\n\nIn fact, one in three businesses polled during the recent Wealth and Asset Management 4.0 research project felt that risk management regulations are likely to increase within the next two years.\n\nSo how can firms make sure they\u2019re equipped to deal with these extra responsibilities?\n\nAs a FinTech innovator with decades of experience in driving transformation within financial services, Group Chief Commercial Officer Mark Hover knows the radical impact that RegTech can have on the efficiency, accuracy and overall standard of your compliance activities.\n\nHere, he explains why there\u2019s never been a better time for firms to make the leap." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "headline": "New challenges require new solutions", "text": "With so many new regulatory changes on the horizon, staying on top of compliance manually can quickly become unmanageable for even the most experienced teams. That\u2019s why more and more businesses are turning to intelligent solutions and advanced technologies to help staff handle the day-to-day realities of maintaining standards.\n\nThe latest figures show private banks, retail asset managers and broker-dealer firms are leading the charge for this technological revolution. More than half of these organisations have self-reported to be in the mid-implementation or advanced stages of digital development.\n\nIn particular, around 65% say they\u2019re now investing in process automation systems. Meanwhile, 52% are pouring resource into smart data and analytics, and 46% are actively exploring tech-powered compliance platforms.\n\nRegTech isn\u2019t just a fad \u2013 it\u2019s quickly becoming a must-have in the fast-moving world of financial services." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "headline": "Optimise your processes from end to end", "text": "Firms that have already made the switch have experienced first-hand the impact digital transformation can have on both compliance and productivity.\n\nMaybe you\u2019re looking to automate file reviews, which we all know can be admin-heavy and time-consuming. Or maybe you need a workflow tool to help your teams manage the never-ending to-do list for SMCR, and reduce the risk of accidentally missing a crucial deadline. Perhaps you want to tap into valuable MI so you can manage your processes more effectively and aid supervisory oversight.\n\nWhatever you\u2019re looking for, there\u2019s a whole inventory of smart solutions now raising the bar for what\u2019s possible without increasing the burden on your team." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "headline": "1. Simplify compliance and assure quality", "text": "Compliance has come a long way since the days of filing cabinets full of case files. But even with the added convenience of digitisation, creating and maintaining a complete and organised set of client records can all too often turn into an uphill battle without the right tools.\n\nRecord filing aside, ensuring compliance and quality of advice is not a simple one-off task. When engaging in customer conversations, you need to take proactive steps to make sure that customers are treated fairly at all times \u2013 with advisers adhering to quality assurance processes and best practice.\n\nUsing AI and machine learning technologies, our Conversation Intelligence speech analytics transcribes and segments 100% of your client conversations \u2013 bringing clarity and consistency to regulatory evidencing, and to compliance monitoring and review. AI technology also focuses reviewers\u2019 attention on high-risk customer interactions \u2013 making your quality reviews quicker and more efficient \u2013 and offers actionable insights to help mitigate risks.\n\nWith all your client-facing interaction records at your fingertips, it\u2019s easier than ever to ensure that all instances of customer advice are of the same high standard and drive better customer outcomes. And not only that: the comprehensive record of past conversations is an invaluable tool for advisers and their supervisors \u2013 allowing them to self-critique their performance, whilst enabling firms to upskill teams and improve future customer interactions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "headline": "2. Open up a more efficient way of working", "text": "There\u2019s no two ways about it \u2013 file checking has always been a meticulous and labour-intensive process. But it doesn\u2019t have to be this way. Thanks to new solutions, it\u2019s now possible to reduce the resource-hours required for reviewing even the most complex files \u2013 without sacrificing accuracy.\n\nOur Document Intelligence solution, for example, automates some of the most time-consuming file checking tasks. It frees up valuable time for your assurance teams to focus on the areas where their expertise is needed most. By increasing the number of checks carried out without scaling up human resource, it provides transparency, precision and efficiency throughout the project lifecycle.\n\nThe same technology also forms the basis for TCC\u2019s High-Performance Assurance platform, offering comprehensive MI to enhance your audit trail and keep the regulator satisfied without spending hours collating evidence as you work.\n\nNot only does this streamlined workflow allow projects to be completed at speed, but your budget will stretch further too." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "headline": "3. Codify best practice within workflows", "text": "The best RegTech systems are developed in close collaboration with those who know the FCA\u2019s expectations inside out \u2013 and are therefore designed to make best practice second nature to the teams using them.\n\nTake SMCR, for example. We know many HR teams manage the day-to-day administration of certain processes, like Fitness & Propriety assessments. Yet they simply don\u2019t have the regulatory knowledge to know what to do with an irregular case, for instance.\n\nMany platforms now provide case management workflows that guide users through each step of the process in sequence. By outlining exactly what\u2019s required, in a process that can\u2019t be deviated from, HR can get the job done at speed \u2013 while Compliance can be sure that important regulatory requirements haven\u2019t been overlooked.\n\nGiven that research suggests 30% of firms think more rules around conduct and individual accountability are imminent, businesses need a dependable process to manage this effectively. TCC\u2019s SMCR Pro, for example, helps firms to embed compliance into the way the business operates and drive a healthy culture, knowing their staff are fit and proper." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digital-transformation-can-streamline-your-compliance-process/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which regulatory changes are adding to FCA-regulated firms\u2019 responsibilities?", "acceptedAnswer": { "@type": "Answer", "text": "The Consumer Duty, the expansion of the Appointed Representatives regime and the harm reduction measures planned in the FCA\u2019s Consumer Investments Strategy all bring new rules and guidance. One in three businesses polled in the Wealth and Asset Management 4.0 research expected risk management regulations to increase within two years." } }, { "@type": "Question", "name": "How widely are financial services firms investing in digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "More than half of private banks, retail asset managers and broker-dealer firms self-report being in the mid-implementation or advanced stages of digital development. Around 65% are investing in process automation, 52% in smart data and analytics, and 46% are exploring tech-powered compliance platforms." } }, { "@type": "Question", "name": "How does speech analytics support compliance and quality assurance?", "acceptedAnswer": { "@type": "Answer", "text": "Conversation Intelligence transcribes and segments 100% of client conversations, focuses reviewers on high-risk interactions and offers actionable insights. The resulting record also helps advisers and supervisors critique performance and improve future interactions." } }, { "@type": "Question", "name": "How does automation make file checking more efficient?", "acceptedAnswer": { "@type": "Answer", "text": "Document Intelligence automates some of the most time-consuming file checking tasks, increasing the number of checks without scaling up human resource and freeing assurance teams to focus where their expertise is needed most." } }, { "@type": "Question", "name": "How can case management workflows help with SMCR?", "acceptedAnswer": { "@type": "Answer", "text": "They guide users such as HR teams through each step of processes like Fitness & Propriety assessments in sequence, so the job gets done at speed while Compliance can be sure important regulatory requirements have not been overlooked." } } ] } ] } ``` ### Recordsure and TCC jointly recognised as ‘Best RegTech Company’ at FinTech Breakthrough Awards - URL: https://recordsure.com/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/ - Published: 2022-03-17 - Modified: 2026-10-09 **Topic:** FinTech Breakthrough Recordsure and TCC received the Best RegTech Company prize at the 2022 FinTech Breakthrough Awards. Their combined technology and regulatory expertise supports compliance, risk management and customer outcome work. #### Key points - Recordsure and TCC jointly won Best RegTech Company at the 2022 FinTech Breakthrough Awards. - The award recognised the collaboration between Recordsure’s technology and TCC’s regulatory expertise. - Conversation Intelligence and Document Intelligence support monitoring and review work. - James Johnson and Joanne Smith explain why the collaboration was recognised. Recordsure, along with sister company TCC, was awarded the Best RegTech Company prize at the 2022 [FinTech Breakthrough Awards](https://fintechbreakthrough.com/). The awards are intended to celebrate prominent FinTech and RegTech figures and organisations from around the world, especially those whose approach has left a positive mark on financial services over the past year. #### Recognition for collaboration between Recordsure and TCC Recordsure was particularly pleased to win the award as a joint honour because it recognises the long history of collaboration between the two companies. By combining technological innovation with [TCC](https://tcc.group/)’s expertise in regulatory compliance, the companies developed solutions designed to address complex challenges facing the financial industry. Melding artificial intelligence with machine learning and automation capabilities, the portfolio of technologies streamlines compliance and embeds best practice within regulated firms by bringing greater clarity and accountability to customer interactions. #### Award rationale from FinTech Breakthrough FinTech Breakthrough Managing Director James Johnson said customers of financial services businesses are looking for more efficient and better value ways to manage regulatory compliance, reduce conduct risks and remediation costs, while also demanding intelligence to improve customer experiences and outcomes. He said the sector’s biggest challenge is how financial institutions can manage risk and deliver better customer outcomes at scale, and that Recordsure and TCC Group deliver on this challenge by driving innovation and compliance support for the industry. James Johnson added that their combination of technology and regulatory expertise helps them solve complex challenges, and congratulated them on the 2022 FinTech Breakthrough Award win. #### Conversation and document analytics capabilities The companies’ solutions include [Recordsure technology Voice](/technology/conversation-intelligence/), which enables firms to analyse and segment 100% of client conversations and flag areas of concern for more in-depth human review. By triaging recorded interactions by topic and highlighting anomalies, the system gives regulatory evidencing transparency, visibility of emerging risks and efficiencies for quality assurance teams. The same AI-driven technology underpins [Recordsure technology Docs](/technology/document-intelligence/), a file reviewing tool with document viewing, bookmarking and gap-flagging tools. The solution streamlines past business review and remediation projects by automating time-consuming review tasks, helping assurance teams deploy human resource where it is needed without sacrificing accuracy. #### Joanne Smith on the award [Joanne Smith](https://www.linkedin.com/in/joanne-smith-7414947/), Founder and Executive Chair of Recordsure and TCC, said she was delighted that FinTech Breakthrough had chosen to recognise the collaboration of Recordsure and TCC with the award. She said the success of the companies is built on the technology they deploy and the expertise of their teams across both organisations. She added that the companies are investing in their teams and working together closely to continue developing RegTech solutions that remove inefficiencies and deliver value for clients. Joanne also said their belief that company culture is key to commercial success makes collaboration central to their strategy and culture. #### Supporting sources - [FinTech Breakthrough Awards](https://fintechbreakthrough.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Their combined technology and regulatory expertise supports compliance, risk management and customer outcome work.\n\nRecordsure, along with sister company TCC, was awarded the Best RegTech Company prize at the 2022 FinTech Breakthrough Awards.\n\nThe awards are intended to celebrate prominent FinTech and RegTech figures and organisations from around the world, especially those whose approach has left a positive mark on financial services over the past year.\n\nRecognition for collaboration between Recordsure and TCC\n\nRecordsure was particularly pleased to win the award as a joint honour because it recognises the long history of collaboration between the two companies. By combining technological innovation with TCC\u2019s expertise in regulatory compliance, the companies developed solutions designed to address complex challenges facing the financial industry.\n\nMelding artificial intelligence with machine learning and automation capabilities, the portfolio of technologies streamlines compliance and embeds best practice within regulated firms by bringing greater clarity and accountability to customer interactions.\n\nAward rationale from FinTech Breakthrough\n\nFinTech Breakthrough Managing Director James Johnson said customers of financial services businesses are looking for more efficient and better value ways to manage regulatory compliance, reduce conduct risks and remediation costs, while also demanding intelligence to improve customer experiences and outcomes.\n\nHe said the sector\u2019s biggest challenge is how financial institutions can manage risk and deliver better customer outcomes at scale, and that Recordsure and TCC Group deliver on this challenge by driving innovation and compliance support for the industry.\n\nJames Johnson added that their combination of technology and regulatory expertise helps them solve complex challenges, and congratulated them on the 2022 FinTech Breakthrough Award win.\n\nConversation and document analytics capabilities\n\nThe companies\u2019 solutions include Recordsure technology Voice, which enables firms to analyse and segment 100% of client conversations and flag areas of concern for more in-depth human review. 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By combining technological innovation with TCC\u2019s expertise in regulatory compliance, the companies developed solutions designed to address complex challenges facing the financial industry.\n\nMelding artificial intelligence with machine learning and automation capabilities, the portfolio of technologies streamlines compliance and embeds best practice within regulated firms by bringing greater clarity and accountability to customer interactions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/#webpage" }, "inLanguage": "en-GB", "headline": "Award rationale from FinTech Breakthrough", "text": "FinTech Breakthrough Managing Director James Johnson said customers of financial services businesses are looking for more efficient and better value ways to manage regulatory compliance, reduce conduct risks and remediation costs, while also demanding intelligence to improve customer experiences and outcomes.\n\nHe said the sector\u2019s biggest challenge is how financial institutions can manage risk and deliver better customer outcomes at scale, and that Recordsure and TCC Group deliver on this challenge by driving innovation and compliance support for the industry.\n\nJames Johnson added that their combination of technology and regulatory expertise helps them solve complex challenges, and congratulated them on the 2022 FinTech Breakthrough Award win." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-tcc-jointly-recognised-best-regtech-company-fintech-breakthrough-awards/#webpage" }, "inLanguage": "en-GB", "headline": "Conversation and document analytics capabilities", "text": "The companies\u2019 solutions include Recordsure technology Voice, which enables firms to analyse and segment 100% of client conversations and flag areas of concern for more in-depth human review. 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Joanne Smith was also shortlisted for Innovator of the Year, alongside Recordsure’s compliance technology recognition. #### Key points - Recordsure was shortlisted for RegTech of the Year 2022 by the UK FinTech Awards. - The awards are supported by FinTech Intel and judged by an independent panel of experts. - Recordsure reached the RegTech of the Year shortlist for the second year running. - Joanne Smith was also shortlisted for the Innovator of the Year 2022 award. - Recordsure can analyse spoken and written client interactions. Recordsure was named a finalist for the RegTech of the Year 2022 category by the [UK FinTech Awards](https://ukfintechawards.co.uk/). The annual awards returned to celebrate the FinTech community and the accomplishments of UK firms. The UK FinTech Awards are supported by [FinTech Intel](https://www.fintech-intel.com/), the global market intelligence platform for financial services technology, and judged by an independent panel of experts. #### RegTech of the Year shortlist The UK FinTech Awards said it had a fantastic response, with hundreds of entries, fierce debates and close results. It described 2022 as its most competitive year yet. Recordsure became a finalist for RegTech of the Year 2022 for the second year running. Joe Norburn, CEO at Recordsure, said being shortlisted was an achievement for Recordsure and its RegTech solutions, and thanked the team for its focus and dedication in bringing innovation and change to financial services. [Joanne Smith](/meet-the-team/), Founder and Executive Chair at [Recordsure](/) and [TCC Group](https://tcc.group), was also shortlisted for the [Innovator of the Year 2022](/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/) award by the [UK FinTech Awards](https://ukfintechawards.co.uk/). #### Why clients trust Recordsure RegTech Recordsure’s proprietary AI analytics technology was designed to help close the regulatory gap and drive accountability to protect customers. Its voice and data platforms record, review and analyse 100% of customer conversations and interactions, remove blind spots, support transparency and promote fair customer treatment. Recordsure’s RegTech solutions are designed for the financial services industry to: - ensure regulatory compliance - manage risk - speed up review processes - deliver remediation projects faster and with greater efficiencies - provide intelligence for better customer outcomes and care Firms using Recordsure benefit from a faster, more consistent and more efficient approach to compliance management and higher quality results. Recordsure provides compliance monitoring across recorded conversations and case file documentation, covering spoken and written interactions between firms and their clients. Recordsure technology combines human-level intelligence with machine-powered capability and supports compliance, customer care, risk management and sales at scale. #### Supporting sources - [UK FinTech Awards](https://ukfintechawards.co.uk/) - [FinTech Intel](https://www.fintech-intel.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Joanne Smith was also shortlisted for Innovator of the Year, alongside Recordsure\u2019s compliance technology recognition.\n\nRecordsure was named a finalist for the RegTech of the Year 2022 category by the UK FinTech Awards.\n\nThe annual awards returned to celebrate the FinTech community and the accomplishments of UK firms. The UK FinTech Awards are supported by FinTech Intel, the global market intelligence platform for financial services technology, and judged by an independent panel of experts.\n\nRegTech of the Year shortlist\n\nThe UK FinTech Awards said it had a fantastic response, with hundreds of entries, fierce debates and close results. It described 2022 as its most competitive year yet.\n\nRecordsure became a finalist for RegTech of the Year 2022 for the second year running. 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Joe Norburn, CEO at Recordsure, said being shortlisted was an achievement for Recordsure and its RegTech solutions, and thanked the team for its focus and dedication in bringing innovation and change to financial services.\n\nJoanne Smith, Founder and Executive Chair at Recordsure and TCC Group, was also shortlisted for the Innovator of the Year 2022 award by the UK FinTech Awards." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/#webpage" }, "inLanguage": "en-GB", "headline": "Why clients trust Recordsure RegTech", "text": "Recordsure\u2019s proprietary AI analytics technology was designed to help close the regulatory gap and drive accountability to protect customers. Its voice and data platforms record, review and analyse 100% of customer conversations and interactions, remove blind spots, support transparency and promote fair customer treatment.\n\nRecordsure\u2019s RegTech solutions are designed for the financial services industry to:\n\n\u2022 ensure regulatory compliance\n\u2022 manage risk\n\u2022 speed up review processes\n\u2022 deliver remediation projects faster and with greater efficiencies\n\u2022 provide intelligence for better customer outcomes and care\n\nFirms using Recordsure benefit from a faster, more consistent and more efficient approach to compliance management and higher quality results. Recordsure provides compliance monitoring across recorded conversations and case file documentation, covering spoken and written interactions between firms and their clients.\n\nRecordsure technology combines human-level intelligence with machine-powered capability and supports compliance, customer care, risk management and sales at scale." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which award shortlisted Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was shortlisted for RegTech of the Year 2022 by the UK FinTech Awards." } }, { "@type": "Question", "name": "Who supports the UK FinTech Awards?", "acceptedAnswer": { "@type": "Answer", "text": "The awards are supported by FinTech Intel and judged by an independent panel of experts." } }, { "@type": "Question", "name": "Which other Recordsure-related shortlist is included?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith was shortlisted for the Innovator of the Year 2022 award." } }, { "@type": "Question", "name": "What interactions can Recordsure cover?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure can cover and analyse every spoken and written interaction between firms and their clients." } } ] } ] } ``` ### Joanne Smith, Innovator of the Year 2022 Award finalist - URL: https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/ - Published: 2022-03-06 - Modified: 2026-10-09 **Topic:** Innovation finalist Joanne Smith was shortlisted for Innovator of the Year 2022 at the UK FinTech Awards. Her background, Recordsure and TCC’s experience, and Recordsure’s RegTech milestones show why she was recognised. #### Key points - Joanne Smith was named a finalist for Innovator of the Year 2022 by the UK FinTech Awards. - The awards celebrate the UK FinTech community and are supported by FinTech Intel. - Joanne’s financial services, compliance and technology experience underpins the shortlisting. - Recordsure was also shortlisted for RegTech of the Year for the second year in a row. We're proud to announce that Joanne Smith, Founder and Executive Chair at Recordsure and TCC, has been named a finalist for the Innovator of the Year 2022 category by the UK FinTech Awards. The UK is home to the world’s premier financial services centre and a burgeoning financial technology market – and the annual [UK FinTech Awards](https://ukfintechawards.co.uk/) returns to celebrate the incredible FinTech community, along with the accomplishments and triumphs of the UK’s best and brightest. The UK FinTech Awards are supported by [FinTech Intel](https://fintech-intel.com/), the global market intelligence platform for financial services technology. We had a fantastic response and hundreds of entries for our independent judging panel to review. The debates were fierce, and the results close. It was our most competitive year yet. UK FinTech Awards A range of award categories cover the full spectrum of FinTech and are judged by an independent panel of experts. Considering the intense competition, being shortlisted for the Innovator of the Year is an incredible achievement for [Joanne Smith](/meet-the-team/) – as well as for [Recordsure](/) and [TCC](https://tcc.group). Joanne appreciates the recognition of her hard work and commitment to innovation to serve financial services clients and their customers better. I'm thrilled to be shortlisted amongst the fierce competition. My focus has always been on finding innovative technology solutions that help solve the financial services sector's biggest challenges – efficient risk management, compliance and better customer care. Joanne Smith, Founder and Executive Chair, Recordsure #### Joanne Smith, here is what you should know Joanne Smith, here is what you should know Joanne-founded businesses, Recordsure and TCC, share decades of experience in finance, compliance and innovative technology. Over the years, Joanne has led the way – breaking new grounds and challenging the accepted status quo when it comes to the issues of the financial services industry. Joanne introduced a number of ‘market-first’ pioneering RegTech solutions to the market, focused on ensuring compliance and conduct, and improving transparency and accountability when dealing with customers. #### Recordsure milestones While not from a technology background, Joanne assiduously upskilled, surrounded herself with experts and immersed herself in the world of digital and technology. Through Recordsure, Joanne built ground-breaking AI RegTech tools with significant milestones: - The first company to provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners - The first company to build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations - The first company to build an AI system that breaks financial conversations into sections to streamline a variety of compliance, training, competency and customer insight reviews Recordsure and TCC’s market-leading RegTech solutions deliver tangible business benefits – more efficient and better value ways to manage compliance, risks and remediation, and unrivalled intelligence to improve customer experiences and outcomes. What’s more, the [UK FinTech Awards](https://ukfintechawards.co.uk/) has shortlisted [Recordsure](/) for the [RegTech of the Year award](/insights/news/recordsure-is-shortlisted-for-the-regtech-of-the-year-2022-award/) for the second year in the row, which is a cause for a double celebration here at Recordsure. #### Supporting sources - [UK FinTech Awards](https://ukfintechawards.co.uk/) - [FinTech Intel](https://fintech-intel.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Joanne Smith, Innovator of the Year 2022 Award finalist", "item": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage", "url": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/", "name": "Joanne Smith, Innovator of the Year 2022 Award finalist", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-03-06T18:01:44+00:00", "dateModified": "2023-06-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-06-23" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Joanne Smith, Innovator of the Year 2022 Award finalist", "datePublished": "2022-03-06T18:01:44+00:00", "dateModified": "2026-10-09T04:50:29+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a3c4a8c192d14e749332ab36fce84ef1/thumbnail-1024-28fe87e03e48db520ec3208e1b3fd04904fc541cc7b05f0811825bf9644d8d92.jpg", "description": "Joanne Smith, Founder and Executive Chair at Recordsure and TCC, was named a finalist for Innovator of the Year 2022 at the UK FinTech Awards.", "inLanguage": "en-GB", "articleBody": "Joanne Smith was shortlisted for Innovator of the Year 2022 at the UK FinTech Awards. Her background, Recordsure and TCC\u2019s experience, and Recordsure\u2019s RegTech milestones show why she was recognised.\n\nWe're proud to announce that Joanne Smith, Founder and Executive Chair at Recordsure and TCC, has been named a finalist for the Innovator of the Year 2022 category by the UK FinTech Awards.\n\nThe UK is home to the world\u2019s premier financial services centre and a burgeoning financial technology market \u2013 and the annual UK FinTech Awards returns to celebrate the incredible FinTech community, along with the accomplishments and triumphs of the UK\u2019s best and brightest. The UK FinTech Awards are supported by FinTech Intel, the global market intelligence platform for financial services technology.\n\nWe had a fantastic response and hundreds of entries for our independent judging panel to review. The debates were fierce, and the results close. It was our most competitive year yet. UK FinTech Awards\n\nA range of award categories cover the full spectrum of FinTech and are judged by an independent panel of experts. Considering the intense competition, being shortlisted for the Innovator of the Year is an incredible achievement for Joanne Smith \u2013 as well as for Recordsure and TCC.\n\nJoanne appreciates the recognition of her hard work and commitment to innovation to serve financial services clients and their customers better.\n\nI'm thrilled to be shortlisted amongst the fierce competition. My focus has always been on finding innovative technology solutions that help solve the financial services sector's biggest challenges \u2013 efficient risk management, compliance and better customer care. Joanne Smith, Founder and Executive Chair, Recordsure\n\nJoanne Smith, here is what you should know\n\nJoanne Smith, here is what you should know\n\nJoanne-founded businesses, Recordsure and TCC, share decades of experience in finance, compliance and innovative technology.\n\nOver the years, Joanne has led the way \u2013 breaking new grounds and challenging the accepted status quo when it comes to the issues of the financial services industry.\n\nJoanne introduced a number of \u2018market-first\u2019 pioneering RegTech solutions to the market, focused on ensuring compliance and conduct, and improving transparency and accountability when dealing with customers.\n\nRecordsure milestones\n\nWhile not from a technology background, Joanne assiduously upskilled, surrounded herself with experts and immersed herself in the world of digital and technology.\n\nThrough Recordsure, Joanne built ground-breaking AI RegTech tools with significant milestones:\n\n\u2022 The first company to provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners\n\u2022 The first company to build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations\n\u2022 The first company to build an AI system that breaks financial conversations into sections to streamline a variety of compliance, training, competency and customer insight reviews\n\nRecordsure and TCC\u2019s market-leading RegTech solutions deliver tangible business benefits \u2013 more efficient and better value ways to manage compliance, risks and remediation, and unrivalled intelligence to improve customer experiences and outcomes.\n\nWhat\u2019s more, the UK FinTech Awards has shortlisted Recordsure for the RegTech of the Year award for the second year in the row, which is a cause for a double celebration here at Recordsure.", "wordCount": 529, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Innovation finalist" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "UK FinTech Awards", "url": "https://ukfintechawards.co.uk/" }, { "@type": "CreativeWork", "name": "FinTech Intel", "url": "https://fintech-intel.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "inLanguage": "en-GB", "text": "We're proud to announce that Joanne Smith, Founder and Executive Chair at Recordsure and TCC, has been named a finalist for the Innovator of the Year 2022 category by the UK FinTech Awards.\n\nThe UK is home to the world\u2019s premier financial services centre and a burgeoning financial technology market \u2013 and the annual UK FinTech Awards returns to celebrate the incredible FinTech community, along with the accomplishments and triumphs of the UK\u2019s best and brightest. The UK FinTech Awards are supported by FinTech Intel, the global market intelligence platform for financial services technology.\n\nWe had a fantastic response and hundreds of entries for our independent judging panel to review. The debates were fierce, and the results close. It was our most competitive year yet. UK FinTech Awards\n\nA range of award categories cover the full spectrum of FinTech and are judged by an independent panel of experts. Considering the intense competition, being shortlisted for the Innovator of the Year is an incredible achievement for Joanne Smith \u2013 as well as for Recordsure and TCC.\n\nJoanne appreciates the recognition of her hard work and commitment to innovation to serve financial services clients and their customers better.\n\nI'm thrilled to be shortlisted amongst the fierce competition. My focus has always been on finding innovative technology solutions that help solve the financial services sector's biggest challenges \u2013 efficient risk management, compliance and better customer care. Joanne Smith, Founder and Executive Chair, Recordsure" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "inLanguage": "en-GB", "headline": "Joanne Smith, here is what you should know", "text": "Joanne Smith, here is what you should know\n\nJoanne-founded businesses, Recordsure and TCC, share decades of experience in finance, compliance and innovative technology.\n\nOver the years, Joanne has led the way \u2013 breaking new grounds and challenging the accepted status quo when it comes to the issues of the financial services industry.\n\nJoanne introduced a number of \u2018market-first\u2019 pioneering RegTech solutions to the market, focused on ensuring compliance and conduct, and improving transparency and accountability when dealing with customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure milestones", "text": "While not from a technology background, Joanne assiduously upskilled, surrounded herself with experts and immersed herself in the world of digital and technology.\n\nThrough Recordsure, Joanne built ground-breaking AI RegTech tools with significant milestones:\n\n\u2022 The first company to provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners\n\u2022 The first company to build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations\n\u2022 The first company to build an AI system that breaks financial conversations into sections to streamline a variety of compliance, training, competency and customer insight reviews\n\nRecordsure and TCC\u2019s market-leading RegTech solutions deliver tangible business benefits \u2013 more efficient and better value ways to manage compliance, risks and remediation, and unrivalled intelligence to improve customer experiences and outcomes.\n\nWhat\u2019s more, the UK FinTech Awards has shortlisted Recordsure for the RegTech of the Year award for the second year in the row, which is a cause for a double celebration here at Recordsure." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-fintech-innovator-of-the-year-2022-award-finalist/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which UK FinTech Awards category shortlisted Joanne Smith?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith was shortlisted for the Innovator of the Year 2022 category." } }, { "@type": "Question", "name": "Who supports the UK FinTech Awards?", "acceptedAnswer": { "@type": "Answer", "text": "FinTech Intel, the global market intelligence platform for financial services technology, supports the awards." } }, { "@type": "Question", "name": "What Recordsure milestones are listed?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s milestones include face-to-face conversation recording, speech recognition for multi-party face-to-face conversations and an AI system that breaks financial conversations into sections." } } ] } ] } ``` ### Recordsure joins leading FinTechs in a push for stronger reform to regulation - URL: https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/ - Published: 2022-02-23 - Modified: 2026-10-09 **Topic:** FinTech reform Recordsure joined an open letter from more than 70 FinTech CEOs and founders calling for stronger UK regulatory reform. One year after the Kalifa Review, the letter recognised progress while calling for continued action. #### Key points - Joe Norburn was among signatories calling for faster reform of the UK FinTech industry. - More than 70 FinTech CEOs signed the open letter. - The letter followed the Kalifa Review and was led by Innovate Finance’s membership community. - It recognised progress including Central Digital Currency plans, listing regime changes and R&D tax credit extensions. - Continued reform is needed to support innovation in financial services. Seventy leading technology firms signed an open letter calling for more substantial reform to FinTech regulation to help protect the future of the industry and consumers. [Recordsure](/) and [TCC](https://tcc.group) Group CEO [Joe Norburn](/meet-the-team/) was among the signatories urging regulators to speed up reforms to the UK’s FinTech industry. #### Kalifa Review progress and further reform The letter was signed by the CEOs of more than 70 of the country’s FinTech firms, including Gemini, OpenPay and Monzo alongside Recordsure. It formed part of the ongoing [Kalifa Review](/insights/news/the-kalifa-review-of-uk-fintech/) initiative led by FinTech non-profit body [Innovate Finance](https://www.innovatefinance.com/). The message urged policymakers to “seize on the opportunities afforded to us from leaving the EU” and endorsed reforming existing regulations following the Kalifa Review’s recommendations in February 2021. Entitled [‘Kalifa Review One Year On: Strong Progress, Opportunity for More’](https://www.innovatefinance.com/blogs/open-letter-from-fintech-ceos-and-founders-from-innovate-finances-membership-community/), it highlighted progress made since launch. The examples included the Bank of England’s newly unveiled plans for a Central Digital Currency, changes to the UK’s listings regime and Chancellor Sunak’s extension of R&D tax credits to data and cloud computing. Nonetheless, the letter took the view, echoed by prominent backers, that more work remained to reform standards and boost innovation. Innovate Finance said that rather than resting on laurels, the sector needed to build on momentum and work together to establish a UK environment more supportive of innovation in financial services. #### Technology and financial services priorities Technology’s importance reflects a shift in priorities for businesses and investors since the beginning of the decade. The pandemic increased the adoption of digital finance and renewed focus on the role technology and innovation should play in making financial services work for all. The open letter secured the front page of [City A.M.](https://www.cityam.com/exclusive-fintech-bosses-call-on-government-to-ramp-up-efforts-to-overhaul-regulation/), reflecting financial services support for FinTech leaders’ calls to overhaul regulation and build a leading environment for the sector. Janine Hirt, Chief Executive of Innovate Finance, recognised both progress and the FinTech sector’s potential. She said FinTech is a significant industry for the UK and benefits society and individuals, making it important to champion and promote its continued strength. #### Supporting sources - [Innovate Finance](https://www.innovatefinance.com/) - [Kalifa Review One Year On: Strong Progress, Opportunity for More](https://www.innovatefinance.com/blogs/open-letter-from-fintech-ceos-and-founders-from-innovate-finances-membership-community/) - [City A.M.](https://www.cityam.com/exclusive-fintech-bosses-call-on-government-to-ramp-up-efforts-to-overhaul-regulation/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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One year after the Kalifa Review, the letter recognised progress while calling for continued action.\n\nSeventy leading technology firms signed an open letter calling for more substantial reform to FinTech regulation to help protect the future of the industry and consumers.\n\nRecordsure and TCC Group CEO Joe Norburn was among the signatories urging regulators to speed up reforms to the UK\u2019s FinTech industry.\n\nKalifa Review progress and further reform\n\nThe letter was signed by the CEOs of more than 70 of the country\u2019s FinTech firms, including Gemini, OpenPay and Monzo alongside Recordsure. It formed part of the ongoing Kalifa Review initiative led by FinTech non-profit body Innovate Finance.\n\nThe message urged policymakers to \u201cseize on the opportunities afforded to us from leaving the EU\u201d and endorsed reforming existing regulations following the Kalifa Review\u2019s recommendations in February 2021.\n\nEntitled \u2018Kalifa Review One Year On: Strong Progress, Opportunity for More\u2019, it highlighted progress made since launch. The examples included the Bank of England\u2019s newly unveiled plans for a Central Digital Currency, changes to the UK\u2019s listings regime and Chancellor Sunak\u2019s extension of R&D tax credits to data and cloud computing.\n\nNonetheless, the letter took the view, echoed by prominent backers, that more work remained to reform standards and boost innovation. Innovate Finance said that rather than resting on laurels, the sector needed to build on momentum and work together to establish a UK environment more supportive of innovation in financial services.\n\nTechnology and financial services priorities\n\nTechnology\u2019s importance reflects a shift in priorities for businesses and investors since the beginning of the decade. The pandemic increased the adoption of digital finance and renewed focus on the role technology and innovation should play in making financial services work for all.\n\nThe open letter secured the front page of City A.M., reflecting financial services support for FinTech leaders\u2019 calls to overhaul regulation and build a leading environment for the sector.\n\nJanine Hirt, Chief Executive of Innovate Finance, recognised both progress and the FinTech sector\u2019s potential. She said FinTech is a significant industry for the UK and benefits society and individuals, making it important to champion and promote its continued strength.", "wordCount": 375, "keywords": [ "Banking", "Insurance", "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "FinTech reform" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Innovate Finance", "url": "https://www.innovatefinance.com/" }, { "@type": "CreativeWork", "name": "Kalifa Review One Year On: Strong Progress, Opportunity for More", "url": "https://www.innovatefinance.com/blogs/open-letter-from-fintech-ceos-and-founders-from-innovate-finances-membership-community/" }, { "@type": "CreativeWork", "name": "City A.M.", "url": "https://www.cityam.com/exclusive-fintech-bosses-call-on-government-to-ramp-up-efforts-to-overhaul-regulation/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#webpage" }, "inLanguage": "en-GB", "text": "Seventy leading technology firms signed an open letter calling for more substantial reform to FinTech regulation to help protect the future of the industry and consumers.\n\nRecordsure and TCC Group CEO Joe Norburn was among the signatories urging regulators to speed up reforms to the UK\u2019s FinTech industry." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#webpage" }, "inLanguage": "en-GB", "headline": "Kalifa Review progress and further reform", "text": "The letter was signed by the CEOs of more than 70 of the country\u2019s FinTech firms, including Gemini, OpenPay and Monzo alongside Recordsure. It formed part of the ongoing Kalifa Review initiative led by FinTech non-profit body Innovate Finance.\n\nThe message urged policymakers to \u201cseize on the opportunities afforded to us from leaving the EU\u201d and endorsed reforming existing regulations following the Kalifa Review\u2019s recommendations in February 2021.\n\nEntitled \u2018Kalifa Review One Year On: Strong Progress, Opportunity for More\u2019, it highlighted progress made since launch. The examples included the Bank of England\u2019s newly unveiled plans for a Central Digital Currency, changes to the UK\u2019s listings regime and Chancellor Sunak\u2019s extension of R&D tax credits to data and cloud computing.\n\nNonetheless, the letter took the view, echoed by prominent backers, that more work remained to reform standards and boost innovation. 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The pandemic increased the adoption of digital finance and renewed focus on the role technology and innovation should play in making financial services work for all.\n\nThe open letter secured the front page of City A.M., reflecting financial services support for FinTech leaders\u2019 calls to overhaul regulation and build a leading environment for the sector.\n\nJanine Hirt, Chief Executive of Innovate Finance, recognised both progress and the FinTech sector\u2019s potential. She said FinTech is a significant industry for the UK and benefits society and individuals, making it important to champion and promote its continued strength." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-joins-leading-fintechs-in-a-push-for-stronger-reforms-to-regulation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who signed the open letter?", "acceptedAnswer": { "@type": "Answer", "text": "The letter was signed by CEOs of more than 70 UK FinTech firms, including Recordsure, Gemini, OpenPay and Monzo." } }, { "@type": "Question", "name": "What initiative did the letter form part of?", "acceptedAnswer": { "@type": "Answer", "text": "It formed part of the ongoing Kalifa Review initiative led by Innovate Finance." } }, { "@type": "Question", "name": "What progress did the letter highlight?", "acceptedAnswer": { "@type": "Answer", "text": "It cited the Bank of England\u2019s Central Digital Currency plans, UK listings regime changes and the extension of R&D tax credits to data and cloud computing." } }, { "@type": "Question", "name": "Why does technology matter to financial services?", "acceptedAnswer": { "@type": "Answer", "text": "The pandemic increased digital finance adoption and renewed focus on technology and innovation as ways to make financial services work for all." } } ] } ] } ``` ### Five-Minute Insights: Embedding compliance with RegTech - URL: https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/ - Published: 2022-02-21 - Modified: 2026-10-09 **Topic:** RegTech compliance Sabrina Del Prete’s Five-Minute Insights discussion connects RegTech, internal transformation and compliance. Firms should focus on internal processes, embed compliance into workflows and learn from shared platforms. #### Key points - Client experience is shaped by internal processes long before a customer reaches a website or app. - Compliance should be built into day-to-day processes rather than checked only at the end. - RegTech can help firms update frameworks as policies and regulatory expectations change. - Shared digital platforms may help firms learn from good practice across the industry. Technology and RegTech help bridge communication gaps between departments, embed compliance and unlock new efficiencies. [Sabrina Del Prete](https://www.linkedin.com/in/sabrinadelprete/) is a leading digital strategist and business transformation expert specialising in FinTech integration and development within financial services. Sabrina founded financial product governance and data analytics business Kore Labs in 2017 and serves as the firm’s CEO. She also remains actively involved in the wider entrepreneurial community in the role of a strategic advisor. She sits on the London Institute of Banking and Finance’s Board of Governors and is a Founding Member of the Centre for Digital Banking and Finance. As one of the financial services industry’s pre-eminent champions of [RegTech](/) and its ability to transform connectivity and compliance, we appreciate Sabrina offering her expertise on our recent webinar examining the findings of the [Wealth and Asset Management 4.0 study](/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/). During the discussion, Sabrina gave indispensable advice on how technology can help bridge communication gaps between departments and unlock new efficiencies. #### 1\. The client journey begins earlier than you think Received wisdom would have us believe that the client’s journey begins when they first interact with your firm’s website, app or another external contact point. And so, it’s understandable that firms regularly pour significant resources into creating the most attractive and convenient client-facing platforms possible. In reality, the client’s experience is heavily influenced by what comes before then, what’s happening *within the firm* to root out inefficiencies and roadblocks that may manifest later down the line. For this reason, Sabrina suggests: Many firms would be better served focusing their digital transformation inwards to ensure they’re able to adapt to both regulatory requirements and clients’ evolving needs. Sabrina Del Prete Focused externally only, you run the risk of endlessly tweaking your website menus whilst deeper internal problems continue unabated – which at best breeds inefficiency and, at worst, could lead to unsuitable advice or products being recommended. #### 2\. Compliance should be embedded within your process In an era where more and more back-office tasks are automated, firms should be seizing the opportunity to embed best practice within their day-to-day activities. Sabrina notes: Compliance should be hard-wired into the very way processes are carried out, as opposed to being achieved via a box-ticking exercise at the finishing line. Sabrina Del Prete In other words, businesses need to make sure compliance is embedded directly into the way they work. And by using digital tools to help along the way, the best practice can be hard-wired into system – and altered as and when policies change – to drive positive cultural change. The moving target of regulatory expectations once left compliance teams perilously vulnerable to human error. RegTech now offers firms the tools and guidance to meet their obligations at speed. And not only that, as rules come and go, RegTech platforms can be easily updated to ensure your compliance framework is always fit for the future. #### 3\. RegTech can bring the industry together Whilst many regional variations remain, it’s fair to say that regulators worldwide are moving in a similar direction of travel. And that’s little surprise given they largely operate under the same guiding principles. Despite this, firms still all too often react to new legislation in an insular manner – be it hiring consultants to look at their unique situation, or otherwise taking an ‘every man for himself’ approach to achieving their compliance. The truth is we’re not all that different. That’s why, for Sabrina, the most effective path to success could lie in a shared platform where firms can work collaboratively through these early adjustment phases: Clients say to me, “don’t ask me ‘how’s my process?’, show me what the others are doing!” – because there may be some best practice there. Sabrina Del Prete There is more to consider, Sabrina continues: If we have a digital solution that’s used by multiple organisations, that takes the digital process from inside the bank to outside – where people can contribute – effectively, you’re collecting the wisdom of the crowd. Sabrina Del Prete To hear Sabrina’s take on how RegTech can ‘join the dots’ towards more efficient compliance processes, watch our full Five-Minute Insights video now: > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Five-Minute Insights: Embedding compliance with RegTech", "item": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/", "name": "Five-Minute Insights: Embedding compliance with RegTech", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-02-21T13:34:52+00:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Five-Minute Insights: Embedding compliance with RegTech", "datePublished": "2022-02-21T13:34:52+00:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/29636e57bfae4c6da8d7a09ab4e288ba/thumbnail-1024-9129d1ec5addc7a3d40db4725f9a8e27b9c2920f87844634f2514a7ee0b76ce4.png", "description": "Sabrina Del Prete explains how RegTech can help firms improve internal processes, embed compliance and share good practice across financial services.", "inLanguage": "en-GB", "articleBody": "Sabrina Del Prete\u2019s Five-Minute Insights discussion connects RegTech, internal transformation and compliance. Firms should focus on internal processes, embed compliance into workflows and learn from shared platforms.\n\nTechnology and RegTech help bridge communication gaps between departments, embed compliance and unlock new efficiencies.\n\nSabrina Del Prete is a leading digital strategist and business transformation expert specialising in FinTech integration and development within financial services. Sabrina founded financial product governance and data analytics business Kore Labs in 2017 and serves as the firm\u2019s CEO. She also remains actively involved in the wider entrepreneurial community in the role of a strategic advisor. She sits on the London Institute of Banking and Finance\u2019s Board of Governors and is a Founding Member of the Centre for Digital Banking and Finance.\n\nAs one of the financial services industry\u2019s pre-eminent champions of RegTech and its ability to transform connectivity and compliance, we appreciate Sabrina offering her expertise on our recent webinar examining the findings of the Wealth and Asset Management 4.0 study.\n\nDuring the discussion, Sabrina gave indispensable advice on how technology can help bridge communication gaps between departments and unlock new efficiencies.\n\n1. The client journey begins earlier than you think\n\nReceived wisdom would have us believe that the client\u2019s journey begins when they first interact with your firm\u2019s website, app or another external contact point. And so, it\u2019s understandable that firms regularly pour significant resources into creating the most attractive and convenient client-facing platforms possible.\n\nIn reality, the client\u2019s experience is heavily influenced by what comes before then, what\u2019s happening within the firm to root out inefficiencies and roadblocks that may manifest later down the line.\n\nFor this reason, Sabrina suggests:\n\nMany firms would be better served focusing their digital transformation inwards to ensure they\u2019re able to adapt to both regulatory requirements and clients\u2019 evolving needs. Sabrina Del Prete\n\nFocused externally only, you run the risk of endlessly tweaking your website menus whilst deeper internal problems continue unabated \u2013 which at best breeds inefficiency and, at worst, could lead to unsuitable advice or products being recommended.\n\n2. Compliance should be embedded within your process\n\nIn an era where more and more back-office tasks are automated, firms should be seizing the opportunity to embed best practice within their day-to-day activities. Sabrina notes:\n\nCompliance should be hard-wired into the very way processes are carried out, as opposed to being achieved via a box-ticking exercise at the finishing line. Sabrina Del Prete\n\nIn other words, businesses need to make sure compliance is embedded directly into the way they work. And by using digital tools to help along the way, the best practice can be hard-wired into system \u2013 and altered as and when policies change \u2013 to drive positive cultural change.\n\nThe moving target of regulatory expectations once left compliance teams perilously vulnerable to human error. RegTech now offers firms the tools and guidance to meet their obligations at speed. And not only that, as rules come and go, RegTech platforms can be easily updated to ensure your compliance framework is always fit for the future.\n\n3. RegTech can bring the industry together\n\nWhilst many regional variations remain, it\u2019s fair to say that regulators worldwide are moving in a similar direction of travel. And that\u2019s little surprise given they largely operate under the same guiding principles.\n\nDespite this, firms still all too often react to new legislation in an insular manner \u2013 be it hiring consultants to look at their unique situation, or otherwise taking an \u2018every man for himself\u2019 approach to achieving their compliance.\n\nThe truth is we\u2019re not all that different. That\u2019s why, for Sabrina, the most effective path to success could lie in a shared platform where firms can work collaboratively through these early adjustment phases:\n\nClients say to me, \u201cdon\u2019t ask me \u2018how\u2019s my process?\u2019, show me what the others are doing!\u201d \u2013 because there may be some best practice there. Sabrina Del Prete\n\nThere is more to consider, Sabrina continues:\n\nIf we have a digital solution that\u2019s used by multiple organisations, that takes the digital process from inside the bank to outside \u2013 where people can contribute \u2013 effectively, you\u2019re collecting the wisdom of the crowd. Sabrina Del Prete\n\nTo hear Sabrina\u2019s take on how RegTech can \u2018join the dots\u2019 towards more efficient compliance processes, watch our full Five-Minute Insights video now:", "wordCount": 719, "keywords": [ "Banking", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "inLanguage": "en-GB", "text": "Technology and RegTech help bridge communication gaps between departments, embed compliance and unlock new efficiencies.\n\nSabrina Del Prete is a leading digital strategist and business transformation expert specialising in FinTech integration and development within financial services. Sabrina founded financial product governance and data analytics business Kore Labs in 2017 and serves as the firm\u2019s CEO. She also remains actively involved in the wider entrepreneurial community in the role of a strategic advisor. She sits on the London Institute of Banking and Finance\u2019s Board of Governors and is a Founding Member of the Centre for Digital Banking and Finance.\n\nAs one of the financial services industry\u2019s pre-eminent champions of RegTech and its ability to transform connectivity and compliance, we appreciate Sabrina offering her expertise on our recent webinar examining the findings of the Wealth and Asset Management 4.0 study.\n\nDuring the discussion, Sabrina gave indispensable advice on how technology can help bridge communication gaps between departments and unlock new efficiencies." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "1. The client journey begins earlier than you think", "text": "Received wisdom would have us believe that the client\u2019s journey begins when they first interact with your firm\u2019s website, app or another external contact point. And so, it\u2019s understandable that firms regularly pour significant resources into creating the most attractive and convenient client-facing platforms possible.\n\nIn reality, the client\u2019s experience is heavily influenced by what comes before then, what\u2019s happening within the firm to root out inefficiencies and roadblocks that may manifest later down the line.\n\nFor this reason, Sabrina suggests:\n\nMany firms would be better served focusing their digital transformation inwards to ensure they\u2019re able to adapt to both regulatory requirements and clients\u2019 evolving needs. Sabrina Del Prete\n\nFocused externally only, you run the risk of endlessly tweaking your website menus whilst deeper internal problems continue unabated \u2013 which at best breeds inefficiency and, at worst, could lead to unsuitable advice or products being recommended." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "2. Compliance should be embedded within your process", "text": "In an era where more and more back-office tasks are automated, firms should be seizing the opportunity to embed best practice within their day-to-day activities. Sabrina notes:\n\nCompliance should be hard-wired into the very way processes are carried out, as opposed to being achieved via a box-ticking exercise at the finishing line. Sabrina Del Prete\n\nIn other words, businesses need to make sure compliance is embedded directly into the way they work. And by using digital tools to help along the way, the best practice can be hard-wired into system \u2013 and altered as and when policies change \u2013 to drive positive cultural change.\n\nThe moving target of regulatory expectations once left compliance teams perilously vulnerable to human error. RegTech now offers firms the tools and guidance to meet their obligations at speed. And not only that, as rules come and go, RegTech platforms can be easily updated to ensure your compliance framework is always fit for the future." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "3. RegTech can bring the industry together", "text": "Whilst many regional variations remain, it\u2019s fair to say that regulators worldwide are moving in a similar direction of travel. And that\u2019s little surprise given they largely operate under the same guiding principles.\n\nDespite this, firms still all too often react to new legislation in an insular manner \u2013 be it hiring consultants to look at their unique situation, or otherwise taking an \u2018every man for himself\u2019 approach to achieving their compliance.\n\nThe truth is we\u2019re not all that different. That\u2019s why, for Sabrina, the most effective path to success could lie in a shared platform where firms can work collaboratively through these early adjustment phases:\n\nClients say to me, \u201cdon\u2019t ask me \u2018how\u2019s my process?\u2019, show me what the others are doing!\u201d \u2013 because there may be some best practice there. Sabrina Del Prete\n\nThere is more to consider, Sabrina continues:\n\nIf we have a digital solution that\u2019s used by multiple organisations, that takes the digital process from inside the bank to outside \u2013 where people can contribute \u2013 effectively, you\u2019re collecting the wisdom of the crowd. Sabrina Del Prete\n\nTo hear Sabrina\u2019s take on how RegTech can \u2018join the dots\u2019 towards more efficient compliance processes, watch our full Five-Minute Insights video now:" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/embedding-compliance-with-regtech/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Sabrina Del Prete?", "acceptedAnswer": { "@type": "Answer", "text": "Sabrina Del Prete is a digital strategist, business transformation expert, founder and CEO of Kore Labs, and a strategic adviser." } }, { "@type": "Question", "name": "Why does the client journey begin earlier than the first external contact?", "acceptedAnswer": { "@type": "Answer", "text": "It says internal inefficiencies and roadblocks can shape the later client experience before a customer reaches a website, app or other contact point." } }, { "@type": "Question", "name": "How can RegTech support compliance processes?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech can help embed best practice into systems, update frameworks when policies change and support firms in meeting obligations at speed." } } ] } ] } ``` ### Recordsure named the Most Innovative RegTech Solutions Company 2022 – UK - URL: https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/ - Published: 2022-02-15 - Modified: 2026-10-09 **Topic:** RegTech award Acquisition International’s Global Excellence Awards named Recordsure Most Innovative RegTech Solutions Company 2022 – UK. The award recognised Recordsure’s innovation, client dedication and performance in RegTech for financial services. #### Key points - The Global Excellence Awards named Recordsure the 2022 UK winner for innovative RegTech solutions. - The awards judge firms on client dedication, innovation, business growth and performance. - Recordsure links interaction transparency, compliance support and customer outcomes in its RegTech tools. The [2022 Global Excellence Awards](https://www.acquisition-international.com/issues/issue-2-2022/29/), run by Acquisition International, announced Recordsure as the winner of the Most Innovative RegTech Solutions Company 2022 – UK award. Recordsure started 2022 with this recognition for its dedication and commitment to innovation and to bringing RegTech solutions to financial services organisations. #### Global Excellence Awards recognition In its fifth year, the Global Excellence Awards recognise and reward firms and individuals that have excelled in their industries by demonstrating sustained performance. The final judgement is based on criteria that acknowledge and highlight client dedication, innovation, business growth and performance. The selection process for the Global Excellence Awards is carried out through an in-depth examination scrutinised by in-house specialists, and award recipients are chosen on merit. It is a privilege for Recordsure to be named among the winners. #### Leading innovation in regulated services The digitalisation trend in financial services is accompanied by increased expectations of transparency and openness about fair customer treatment. Recordsure’s [RegTech speech analytics tools](/technology/conversation-intelligence/) offer interaction transparency, no matter which communication channel a customer chooses to use, while supporting compliance and better customer outcomes. Recordsure also helps firms keep ahead of changes in customer or market demand. Its tools help clients scale operations up or down for individual customer-facing departments when needed, responding to changing environments. Through innovation, Recordsure delivers compliance support and customer protection to the industry. It continues to invest in teams and work closely on RegTech solutions designed to remove inefficiencies and deliver value for clients. #### Supporting sources - [Global Excellence Awards](https://www.acquisition-international.com/issues/issue-2-2022/29/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The award recognised Recordsure\u2019s innovation, client dedication and performance in RegTech for financial services.\n\nThe 2022 Global Excellence Awards, run by Acquisition International, announced Recordsure as the winner of the Most Innovative RegTech Solutions Company 2022 \u2013 UK award.\n\nRecordsure started 2022 with this recognition for its dedication and commitment to innovation and to bringing RegTech solutions to financial services organisations.\n\nGlobal Excellence Awards recognition\n\nIn its fifth year, the Global Excellence Awards recognise and reward firms and individuals that have excelled in their industries by demonstrating sustained performance. The final judgement is based on criteria that acknowledge and highlight client dedication, innovation, business growth and performance.\n\nThe selection process for the Global Excellence Awards is carried out through an in-depth examination scrutinised by in-house specialists, and award recipients are chosen on merit. It is a privilege for Recordsure to be named among the winners.\n\nLeading innovation in regulated services\n\nThe digitalisation trend in financial services is accompanied by increased expectations of transparency and openness about fair customer treatment. Recordsure\u2019s RegTech speech analytics tools offer interaction transparency, no matter which communication channel a customer chooses to use, while supporting compliance and better customer outcomes.\n\nRecordsure also helps firms keep ahead of changes in customer or market demand. Its tools help clients scale operations up or down for individual customer-facing departments when needed, responding to changing environments.\n\nThrough innovation, Recordsure delivers compliance support and customer protection to the industry. It continues to invest in teams and work closely on RegTech solutions designed to remove inefficiencies and deliver value for clients.", "wordCount": 274, "keywords": [ "Government" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "RegTech award" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Global Excellence Awards", "url": "https://www.acquisition-international.com/issues/issue-2-2022/29/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#webpage" }, "inLanguage": "en-GB", "text": "The 2022 Global Excellence Awards, run by Acquisition International, announced Recordsure as the winner of the Most Innovative RegTech Solutions Company 2022 \u2013 UK award.\n\nRecordsure started 2022 with this recognition for its dedication and commitment to innovation and to bringing RegTech solutions to financial services organisations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#webpage" }, "inLanguage": "en-GB", "headline": "Global Excellence Awards recognition", "text": "In its fifth year, the Global Excellence Awards recognise and reward firms and individuals that have excelled in their industries by demonstrating sustained performance. The final judgement is based on criteria that acknowledge and highlight client dedication, innovation, business growth and performance.\n\nThe selection process for the Global Excellence Awards is carried out through an in-depth examination scrutinised by in-house specialists, and award recipients are chosen on merit. It is a privilege for Recordsure to be named among the winners." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#webpage" }, "inLanguage": "en-GB", "headline": "Leading innovation in regulated services", "text": "The digitalisation trend in financial services is accompanied by increased expectations of transparency and openness about fair customer treatment. 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It continues to invest in teams and work closely on RegTech solutions designed to remove inefficiencies and deliver value for clients." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-named-the-most-innovative-regtech-solutions-company-2022-uk/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which award did Recordsure win?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure won Most Innovative RegTech Solutions Company 2022 \u2013 UK at Acquisition International\u2019s Global Excellence Awards." } }, { "@type": "Question", "name": "How are the Global Excellence Awards judged?", "acceptedAnswer": { "@type": "Answer", "text": "The awards consider client dedication, innovation, business growth and performance through an in-depth examination by in-house specialists." } }, { "@type": "Question", "name": "What do Recordsure\u2019s tools support?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s tools support interaction transparency, compliance, customer outcomes and operational scaling for client-facing departments." } } ] } ] } ``` ### Why financial advisers can’t afford to lose the personal touch - URL: https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/ - Published: 2022-02-10 - Modified: 2026-10-09 **Topic:** Digital advice Joe Norburn discussed digitalisation and client relationships with Money Marketing. Firms need usable digital tools while preserving accessible, personal advice. #### Key points - Financial advisers need to balance digitalisation, client convenience and compliance. - Joe Norburn discussed client relationships and digitalisation with Money Marketing. - Digital platforms should be user-friendly, accessible and valuable for clients. - Changing client expectations are increasing demand for RegTech tools. Financial advisers need to find the delicate balance between digitalisation, customer convenience and compliance. Earlier this month, [Joe Norburn](/meet-the-team/), Group CEO at [Recordsure](/) and [TCC](https://tcc.group), met with [Money Marketing](https://www.moneymarketing.co.uk/opinion/soft-skills-have-become-more-important-due-to-digitisation/) to discuss digitalisation and its impact on financial services’ client relationships. Joe shared his advice on making the most of available technology to deliver better outcomes and a positive client experience. #### Accessible digital tools > Keeping digital platforms user-friendly and accessible to all is a priority. Firms should always look to optimise new platforms and tools to provide greater value for their clients. Joe Norburn, Group CEO, Recordsure and TCC With swift changes in clients’ expectations, there has been increased demand for [RegTech tools](/sectors/) to help firms get the balance right. #### Supporting sources - [Money Marketing](https://www.moneymarketing.co.uk/opinion/soft-skills-have-become-more-important-due-to-digitisation/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Joe Norburn, Group CEO, Recordsure and TCC\n\nWith swift changes in clients\u2019 expectations, there has been increased demand for RegTech tools to help firms get the balance right.", "wordCount": 139, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Digital advice" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Money Marketing", "url": "https://www.moneymarketing.co.uk/opinion/soft-skills-have-become-more-important-due-to-digitisation/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#webpage" }, "inLanguage": "en-GB", "text": "Financial advisers need to find the delicate balance between digitalisation, customer convenience and compliance. Earlier this month, Joe Norburn, Group CEO at Recordsure and TCC, met with Money Marketing to discuss digitalisation and its impact on financial services\u2019 client relationships.\n\nJoe shared his advice on making the most of available technology to deliver better outcomes and a positive client experience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#webpage" }, "inLanguage": "en-GB", "headline": "Accessible digital tools", "text": "Keeping digital platforms user-friendly and accessible to all is a priority. Firms should always look to optimise new platforms and tools to provide greater value for their clients. Joe Norburn, Group CEO, Recordsure and TCC\n\nWith swift changes in clients\u2019 expectations, there has been increased demand for RegTech tools to help firms get the balance right." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/financial-advisers-cannot-afford-to-lose-the-personal-touch/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What balance do financial advisers need to find?", "acceptedAnswer": { "@type": "Answer", "text": "They need to balance digitalisation, customer convenience and compliance." } }, { "@type": "Question", "name": "Who discussed the topic with Money Marketing?", "acceptedAnswer": { "@type": "Answer", "text": "Joe Norburn, Group CEO at Recordsure and TCC, discussed the topic with Money Marketing." } }, { "@type": "Question", "name": "What should firms prioritise when using digital platforms?", "acceptedAnswer": { "@type": "Answer", "text": "They should keep digital platforms user-friendly and accessible while optimising tools to provide greater client value." } } ] } ] } ``` ### Five-Minute Insights: Culture, ESG and Technology - URL: https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/ - Published: 2022-02-09 - Modified: 2026-10-09 **Topic:** Culture and ESG Emma Parry explains how technology can support conduct, compliance and organisational culture when it enhances human advice, supports consistent data capture and helps firms evidence ESG-related purpose and controls. #### Key points - Technology should enhance, not replace, traditional client-adviser interactions. - Clients need a frictionless journey if firms want them to provide useful data. - Culture requires alignment between public commitments, compliance activity and board or regulator reporting. - ESG should be embedded into strategy, decision-making and everyday conversations across the firm. Can technology have a positive impact on organisational culture? Emma Parry explores the link between culture, ESG and conduct. Can technology help drive a positive organisational culture in an age of digitised working and client interactions? [Emma Parry](https://www.linkedin.com/in/emma-parry-35a5351/), independent senior advisor and conduct risk expert, and [Recordsure](/) are exploring the link between culture, ESG and conduct. Emma shares her thoughts on how can digitalisation and [RegTech](/sectors/) provide financial firms with invaluable tools to manage conduct, compliance and positively impact organisational culture. Our guest expert, Emma Parry, has 20+ years of experience helping financial institutions strengthen their conduct and culture frameworks. A passionate ambassador for the power of technology in transforming risk management, she is the Founder and CEO of NovaFin Consulting. Emma has previously held senior leadership positions at several major organisations including HSBC and JPMorgan Chase. We’re thrilled to have had her join the panel of experts during our recent webinar. We examined the findings of [Wealth & Management 4.0 study](/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/) – where Emma gave her top tips for firms looking to realign their culture and compliance strategies for the digital age. #### 1\. Tech should enhance, not replace, traditional client-adviser interactions While it’s true that digital communication channels offer a wealth of opportunities, inevitably, clients will always want service with a personal touch. And so advisers must resist the temptation to begin cutting corners by relying solely on the demographic data they’re given via apps or online forms. In fact, they should use their tech-enabled abilities to dig deeper into the clients’ situation – what stage of their life journey are they at? And what are their long-term financial goals? These questions will give you a greater idea of what products will best serve their needs. But not only that – you’ll also need to offer users a frictionless journey to ensure they give you the best data set possible. After all, if they have to provide the same information again every time they select another method of contact, all that newfound momentum will be lost. And this is especially important for clients who are more vulnerable or suddenly find themselves vulnerable through circumstance: those who need help are more likely to be open about it if you empower them to communicate in a medium that suits their needs. #### 2\. Aligning words with actions is crucial It’s no secret that the healthiest company cultures are inclusive, open and purposeful. When it comes to culture, it’s no longer enough to simply mention these guiding principles in your literature – firms need to be walking the walk. For instance, it’s one thing to promote ESG funds and green bonds. But it’ll soon be picked up on if sufficient due diligence hasn’t been done, or your new offering stands in stark contrast to other areas of your corporate strategy. We know already that Greenwashing is an issue in the industry, and the reputational fall-out can be devasting. As Emma advises: Are there any disconnects between what the company is saying and advertising, versus what’s playing out in the media? Companies must ensure alignment and accuracy across marketing, compliance and, critically, what’s being reported to the Board and the regulator. Emma Parry One of the significant findings of the Wealth and Asset Management 4.0 study is that having a positive social impact is becoming more of a priority amongst clients – both young and old, from mass market consumers to UHNW individuals. And so, whether we’re talking about supporting sustainable investing, or improving diversity and inclusion internally, having an authentic purpose has never been more vital. #### 3\. Effective processes should be second nature The most effective means of shaping culture is through regular conversations about what your company’s core purpose is in practice. Followed by constructive challenge – and correction, if, for example, processes or behaviours are identified as being ‘off-course’. Firms should be treating ESG as a fundamental component of their company strategy and decision-making. For Emma, this begins with assessing how desired principles can best map onto a firm’s existing client journey: Firms should be looking at ESG and thinking: in terms of the products and services they offer, where are the touchpoints between the ‘E’, the ‘S’ and the ‘G’ – and how do they make sure they’re reflected, documented and embedded accordingly. Emma Parry Of course, for this to be truly effective, everyone has to be on the same page – meaning all employees need to be part of the conversation. That’s why leaders should encourage regular, open discourse among their staff on how to approach ESG day-to-day and, importantly, discuss how ESG relates to the company mission and purpose. Making that strong linkage is critical. This way, everyone will be invested, actively engaged and know what works and what doesn’t. To hear Emma’s full breakdown of what a healthy tech-enabled culture looks like, watch our Five-Minute Insights video now: > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Emma Parry explores the link between culture, ESG and conduct.\n\nCan technology help drive a positive organisational culture in an age of digitised working and client interactions? Emma Parry, independent senior advisor and conduct risk expert, and Recordsure are exploring the link between culture, ESG and conduct. Emma shares her thoughts on how can digitalisation and RegTech provide financial firms with invaluable tools to manage conduct, compliance and positively impact organisational culture.\n\nOur guest expert, Emma Parry, has 20+ years of experience helping financial institutions strengthen their conduct and culture frameworks. A passionate ambassador for the power of technology in transforming risk management, she is the Founder and CEO of NovaFin Consulting. Emma has previously held senior leadership positions at several major organisations including HSBC and JPMorgan Chase.\n\nWe\u2019re thrilled to have had her join the panel of experts during our recent webinar. We examined the findings of Wealth & Management 4.0 study \u2013 where Emma gave her top tips for firms looking to realign their culture and compliance strategies for the digital age.\n\n1. Tech should enhance, not replace, traditional client-adviser interactions\n\nWhile it\u2019s true that digital communication channels offer a wealth of opportunities, inevitably, clients will always want service with a personal touch. And so advisers must resist the temptation to begin cutting corners by relying solely on the demographic data they\u2019re given via apps or online forms.\n\nIn fact, they should use their tech-enabled abilities to dig deeper into the clients\u2019 situation \u2013 what stage of their life journey are they at? And what are their long-term financial goals? These questions will give you a greater idea of what products will best serve their needs.\n\nBut not only that \u2013 you\u2019ll also need to offer users a frictionless journey to ensure they give you the best data set possible. After all, if they have to provide the same information again every time they select another method of contact, all that newfound momentum will be lost.\n\nAnd this is especially important for clients who are more vulnerable or suddenly find themselves vulnerable through circumstance: those who need help are more likely to be open about it if you empower them to communicate in a medium that suits their needs.\n\n2. Aligning words with actions is crucial\n\nIt\u2019s no secret that the healthiest company cultures are inclusive, open and purposeful. When it comes to culture, it\u2019s no longer enough to simply mention these guiding principles in your literature \u2013 firms need to be walking the walk.\n\nFor instance, it\u2019s one thing to promote ESG funds and green bonds. But it\u2019ll soon be picked up on if sufficient due diligence hasn\u2019t been done, or your new offering stands in stark contrast to other areas of your corporate strategy. We know already that Greenwashing is an issue in the industry, and the reputational fall-out can be devasting.\n\nAs Emma advises:\n\nAre there any disconnects between what the company is saying and advertising, versus what\u2019s playing out in the media? Companies must ensure alignment and accuracy across marketing, compliance and, critically, what\u2019s being reported to the Board and the regulator. Emma Parry\n\nOne of the significant findings of the Wealth and Asset Management 4.0 study is that having a positive social impact is becoming more of a priority amongst clients \u2013 both young and old, from mass market consumers to UHNW individuals. And so, whether we\u2019re talking about supporting sustainable investing, or improving diversity and inclusion internally, having an authentic purpose has never been more vital.\n\n3. Effective processes should be second nature\n\nThe most effective means of shaping culture is through regular conversations about what your company\u2019s core purpose is in practice. Followed by constructive challenge \u2013 and correction, if, for example, processes or behaviours are identified as being \u2018off-course\u2019.\n\nFirms should be treating ESG as a fundamental component of their company strategy and decision-making. 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Making that strong linkage is critical.\n\nThis way, everyone will be invested, actively engaged and know what works and what doesn\u2019t.\n\nTo hear Emma\u2019s full breakdown of what a healthy tech-enabled culture looks like, watch our Five-Minute Insights video now:", "wordCount": 840, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Culture and ESG" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#webpage" }, "inLanguage": "en-GB", "text": "Can technology have a positive impact on organisational culture? Emma Parry explores the link between culture, ESG and conduct.\n\nCan technology help drive a positive organisational culture in an age of digitised working and client interactions? Emma Parry, independent senior advisor and conduct risk expert, and Recordsure are exploring the link between culture, ESG and conduct. Emma shares her thoughts on how can digitalisation and RegTech provide financial firms with invaluable tools to manage conduct, compliance and positively impact organisational culture.\n\nOur guest expert, Emma Parry, has 20+ years of experience helping financial institutions strengthen their conduct and culture frameworks. A passionate ambassador for the power of technology in transforming risk management, she is the Founder and CEO of NovaFin Consulting. Emma has previously held senior leadership positions at several major organisations including HSBC and JPMorgan Chase.\n\nWe\u2019re thrilled to have had her join the panel of experts during our recent webinar. We examined the findings of Wealth & Management 4.0 study \u2013 where Emma gave her top tips for firms looking to realign their culture and compliance strategies for the digital age." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#webpage" }, "inLanguage": "en-GB", "headline": "1. Tech should enhance, not replace, traditional client-adviser interactions", "text": "While it\u2019s true that digital communication channels offer a wealth of opportunities, inevitably, clients will always want service with a personal touch. And so advisers must resist the temptation to begin cutting corners by relying solely on the demographic data they\u2019re given via apps or online forms.\n\nIn fact, they should use their tech-enabled abilities to dig deeper into the clients\u2019 situation \u2013 what stage of their life journey are they at? And what are their long-term financial goals? These questions will give you a greater idea of what products will best serve their needs.\n\nBut not only that \u2013 you\u2019ll also need to offer users a frictionless journey to ensure they give you the best data set possible. After all, if they have to provide the same information again every time they select another method of contact, all that newfound momentum will be lost.\n\nAnd this is especially important for clients who are more vulnerable or suddenly find themselves vulnerable through circumstance: those who need help are more likely to be open about it if you empower them to communicate in a medium that suits their needs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#webpage" }, "inLanguage": "en-GB", "headline": "2. Aligning words with actions is crucial", "text": "It\u2019s no secret that the healthiest company cultures are inclusive, open and purposeful. When it comes to culture, it\u2019s no longer enough to simply mention these guiding principles in your literature \u2013 firms need to be walking the walk.\n\nFor instance, it\u2019s one thing to promote ESG funds and green bonds. But it\u2019ll soon be picked up on if sufficient due diligence hasn\u2019t been done, or your new offering stands in stark contrast to other areas of your corporate strategy. We know already that Greenwashing is an issue in the industry, and the reputational fall-out can be devasting.\n\nAs Emma advises:\n\nAre there any disconnects between what the company is saying and advertising, versus what\u2019s playing out in the media? Companies must ensure alignment and accuracy across marketing, compliance and, critically, what\u2019s being reported to the Board and the regulator. Emma Parry\n\nOne of the significant findings of the Wealth and Asset Management 4.0 study is that having a positive social impact is becoming more of a priority amongst clients \u2013 both young and old, from mass market consumers to UHNW individuals. And so, whether we\u2019re talking about supporting sustainable investing, or improving diversity and inclusion internally, having an authentic purpose has never been more vital." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#webpage" }, "inLanguage": "en-GB", "headline": "3. Effective processes should be second nature", "text": "The most effective means of shaping culture is through regular conversations about what your company\u2019s core purpose is in practice. Followed by constructive challenge \u2013 and correction, if, for example, processes or behaviours are identified as being \u2018off-course\u2019.\n\nFirms should be treating ESG as a fundamental component of their company strategy and decision-making. For Emma, this begins with assessing how desired principles can best map onto a firm\u2019s existing client journey:\n\nFirms should be looking at ESG and thinking: in terms of the products and services they offer, where are the touchpoints between the \u2018E\u2019, the \u2018S\u2019 and the \u2018G\u2019 \u2013 and how do they make sure they\u2019re reflected, documented and embedded accordingly. Emma Parry\n\nOf course, for this to be truly effective, everyone has to be on the same page \u2013 meaning all employees need to be part of the conversation. That\u2019s why leaders should encourage regular, open discourse among their staff on how to approach ESG day-to-day and, importantly, discuss how ESG relates to the company mission and purpose. Making that strong linkage is critical.\n\nThis way, everyone will be invested, actively engaged and know what works and what doesn\u2019t.\n\nTo hear Emma\u2019s full breakdown of what a healthy tech-enabled culture looks like, watch our Five-Minute Insights video now:" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/exploring-the-link-between-culture-esg-and-technology/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Emma Parry?", "acceptedAnswer": { "@type": "Answer", "text": "Emma Parry is an independent senior adviser, conduct risk expert, Founder and CEO of NovaFin Consulting, and former senior leader at HSBC and JPMorgan Chase." } }, { "@type": "Question", "name": "How should technology support client-adviser interactions?", "acceptedAnswer": { "@type": "Answer", "text": "It should enhance personal advice by helping advisers understand the client\u2019s life stage, goals and needs, rather than replacing human interaction." } }, { "@type": "Question", "name": "Why does greenwashing matter for culture and ESG?", "acceptedAnswer": { "@type": "Answer", "text": "It uses greenwashing to show the risk when firms\u2019 public ESG commitments are not matched by due diligence or wider corporate strategy." } }, { "@type": "Question", "name": "How should ESG become part of culture?", "acceptedAnswer": { "@type": "Answer", "text": "ESG should be part of strategy, decision-making, client journey design and regular employee conversations about purpose." } } ] } ] } ``` ### Five-Minute Insights: Better Experience Powered by Digital Innovation - URL: https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/ - Published: 2022-02-01 - Modified: 2026-10-09 **Topic:** Digital client experience Ian Ewart argues that wealth managers should treat digital innovation as a way to improve client experience, not only as an efficiency tool. Technology should support transparent engagement, better records and staff who can deliver human service with stronger information. #### Key points - Ian Ewart has led digital innovation across major financial institutions including Coutts, HSBC and Barclays Wealth. - Clients now expect more communication channels, so firms need records that work across departments and journeys. - Firms should explain recording and data use in a constructive way that shows clients the benefit. - Technology should support human staff by doing heavy lifting and preserving the context of interactions. **How can digitalisation bring new benefits to wealth management firms? Ian Ewart has led digital innovation in financial services and explains why focusing on FinTech and RegTech is vital.** For more than two decades, [Ian Ewart](https://www.linkedin.com/in/ian-max-ewart-8b84612/) has been at the forefront of digital innovation in financial services. Having driven strategy at c-suite level for some of the UK’s largest financial institutions, including Coutts, HSBC and Barclays Wealth, he is well placed to bring clarity to discussions about the future of FinTech and RegTech. Technology can help businesses serve clients more effectively and make clients and the client journey a strategic priority. Ian joined a recent webinar exploring results from the Wealth and Management 4.0 study and offered practical insights on the survey findings’ implications for firms over the next few years, including how to benefit from the digital era. Ian’s wider point on culture was that a brand is what people say when the organisation is not in the room. In relation to culture, authenticity is what a firm does when nobody is looking and when the client is not in the room, or setting homework. #### Why a client-first approach? Digital innovation should be judged by how it supports clients. Wealth and asset management firms face permanent changes in expectations following disruption to traditional face-to-face interactions between investors and advisers. New digital platforms mean clients will contact firms through multiple channels. Firms therefore need records that can sit across departments and channels. This makes communication and information easier to use for the firm and more convenient for clients. The study showed that investors want a wider choice of communication channels, and firms cannot allow those channels to damage the client journey. #### Clients need to be made comfortable with digitisation New technologies create new ways to request, record and store client data. Firms need to give clients the knowledge to navigate that environment with ease. Every form of engagement should be positioned constructively. Instead of a clinical call-centre message that says, *this call may be recorded for training purposes*, firms should consider how to explain these systems in a way that shows their benefits to clients. The investor-adviser relationship is the most valuable asset for wealth management firms. Trust is built on transparency and fair treatment. Clients should understand that the information they share can add value to their journey by helping firms offer better advice and a better customer experience. #### Tech should give you ‘superpowers’ Automation and digital engagement create new possibilities, but customers still want service with a human touch. Firms need to ensure their hard-earned brand identity is not lost in translation and that both investors and firms get the best of digital and human service. The key is to use technology to support staff in day-to-day activity and daily endeavours, giving them technology-enabled ‘superpowers’. Ian said technology has a crucial role to play in doing the heavy lifting and making sure the elements captured at the time remain true, so firms reflect the essence of the moment. Wealth management firms can use these principles to set themselves up for success in the digital era. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Five-Minute Insights: Better Experience Powered by Digital Innovation", "item": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/", "name": "Five-Minute Insights: Better Experience Powered by Digital Innovation", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2022-02-01T17:42:05+00:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Five-Minute Insights: Better Experience Powered by Digital Innovation", "datePublished": "2022-02-01T17:42:05+00:00", "dateModified": "2026-10-09T04:50:05+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/d66fb4e81b6c436787b521cd13314869/thumbnail-1024-90a6093bd18b0c79c594b361d4a26dfeb6eb108cc7c457a9be79f53051525481.png", "description": "Ian Ewart explains why wealth managers should use digital innovation to improve client journeys, build trust and give teams practical technology-enabled support.", "inLanguage": "en-GB", "articleBody": "Ian Ewart argues that wealth managers should treat digital innovation as a way to improve client experience, not only as an efficiency tool. Technology should support transparent engagement, better records and staff who can deliver human service with stronger information.\n\nHow can digitalisation bring new benefits to wealth management firms? Ian Ewart has led digital innovation in financial services and explains why focusing on FinTech and RegTech is vital.\n\nFor more than two decades, Ian Ewart has been at the forefront of digital innovation in financial services. Having driven strategy at c-suite level for some of the UK\u2019s largest financial institutions, including Coutts, HSBC and Barclays Wealth, he is well placed to bring clarity to discussions about the future of FinTech and RegTech.\n\nTechnology can help businesses serve clients more effectively and make clients and the client journey a strategic priority. Ian joined a recent webinar exploring results from the Wealth and Management 4.0 study and offered practical insights on the survey findings\u2019 implications for firms over the next few years, including how to benefit from the digital era.\n\nIan\u2019s wider point on culture was that a brand is what people say when the organisation is not in the room. In relation to culture, authenticity is what a firm does when nobody is looking and when the client is not in the room, or setting homework.\n\nWhy a client-first approach?\n\nDigital innovation should be judged by how it supports clients. Wealth and asset management firms face permanent changes in expectations following disruption to traditional face-to-face interactions between investors and advisers. New digital platforms mean clients will contact firms through multiple channels.\n\nFirms therefore need records that can sit across departments and channels. This makes communication and information easier to use for the firm and more convenient for clients. The study showed that investors want a wider choice of communication channels, and firms cannot allow those channels to damage the client journey.\n\nClients need to be made comfortable with digitisation\n\nNew technologies create new ways to request, record and store client data. Firms need to give clients the knowledge to navigate that environment with ease.\n\nEvery form of engagement should be positioned constructively. Instead of a clinical call-centre message that says, this call may be recorded for training purposes, firms should consider how to explain these systems in a way that shows their benefits to clients.\n\nThe investor-adviser relationship is the most valuable asset for wealth management firms. Trust is built on transparency and fair treatment. Clients should understand that the information they share can add value to their journey by helping firms offer better advice and a better customer experience.\n\nTech should give you \u2018superpowers\u2019\n\nAutomation and digital engagement create new possibilities, but customers still want service with a human touch. Firms need to ensure their hard-earned brand identity is not lost in translation and that both investors and firms get the best of digital and human service.\n\nThe key is to use technology to support staff in day-to-day activity and daily endeavours, giving them technology-enabled \u2018superpowers\u2019. 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Ian Ewart has led digital innovation in financial services and explains why focusing on FinTech and RegTech is vital.\n\nFor more than two decades, Ian Ewart has been at the forefront of digital innovation in financial services. Having driven strategy at c-suite level for some of the UK\u2019s largest financial institutions, including Coutts, HSBC and Barclays Wealth, he is well placed to bring clarity to discussions about the future of FinTech and RegTech.\n\nTechnology can help businesses serve clients more effectively and make clients and the client journey a strategic priority. Ian joined a recent webinar exploring results from the Wealth and Management 4.0 study and offered practical insights on the survey findings\u2019 implications for firms over the next few years, including how to benefit from the digital era.\n\nIan\u2019s wider point on culture was that a brand is what people say when the organisation is not in the room. In relation to culture, authenticity is what a firm does when nobody is looking and when the client is not in the room, or setting homework." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "Why a client-first approach?", "text": "Digital innovation should be judged by how it supports clients. Wealth and asset management firms face permanent changes in expectations following disruption to traditional face-to-face interactions between investors and advisers. New digital platforms mean clients will contact firms through multiple channels.\n\nFirms therefore need records that can sit across departments and channels. This makes communication and information easier to use for the firm and more convenient for clients. The study showed that investors want a wider choice of communication channels, and firms cannot allow those channels to damage the client journey." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "Clients need to be made comfortable with digitisation", "text": "New technologies create new ways to request, record and store client data. Firms need to give clients the knowledge to navigate that environment with ease.\n\nEvery form of engagement should be positioned constructively. Instead of a clinical call-centre message that says, this call may be recorded for training purposes, firms should consider how to explain these systems in a way that shows their benefits to clients.\n\nThe investor-adviser relationship is the most valuable asset for wealth management firms. Trust is built on transparency and fair treatment. Clients should understand that the information they share can add value to their journey by helping firms offer better advice and a better customer experience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "Tech should give you \u2018superpowers\u2019", "text": "Automation and digital engagement create new possibilities, but customers still want service with a human touch. Firms need to ensure their hard-earned brand identity is not lost in translation and that both investors and firms get the best of digital and human service.\n\nThe key is to use technology to support staff in day-to-day activity and daily endeavours, giving them technology-enabled \u2018superpowers\u2019. Ian said technology has a crucial role to play in doing the heavy lifting and making sure the elements captured at the time remain true, so firms reflect the essence of the moment.\n\nWealth management firms can use these principles to set themselves up for success in the digital era." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/better-experience-powered-by-digital-innovation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Ian Ewart?", "acceptedAnswer": { "@type": "Answer", "text": "Ian Ewart is a FinTech expert who has led digital innovation in financial services and held senior strategy roles at institutions including Coutts, HSBC and Barclays Wealth." } }, { "@type": "Question", "name": "Why do wealth managers need records across channels?", "acceptedAnswer": { "@type": "Answer", "text": "Clients increasingly contact firms through multiple channels, so communication and information need to be maintained across departments to protect the client journey." } }, { "@type": "Question", "name": "How should firms present recording and data systems to clients?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should explain them constructively and show how shared information can support better advice and a better customer experience." } }, { "@type": "Question", "name": "What are technology-enabled \u2018superpowers\u2019?", "acceptedAnswer": { "@type": "Answer", "text": "It means technology should do heavy lifting for staff and preserve the context of interactions, while people continue to provide the human touch clients want." } } ] } ] } ``` ### Recordsure appoints Garry Evans to drive product innovation - URL: https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/ - Published: 2022-01-17 - Modified: 2026-10-09 **Topic:** Product leadership Garry Evans has joined Recordsure and TCC as Chief Product Officer. He will lead Product Development and Delivery across the group’s compliance, conduct and RegTech portfolio. #### Key points - Garry Evans joined Recordsure and TCC as Chief Product Officer. - He leads the group’s Product Development and Delivery team. - Garry has more than 20 years of experience in technology product and market development. - His background includes FinTech start-ups, OpenWrks and Tully. - The role supports Recordsure and TCC’s AI-enabled RegTech product portfolio. [Garry Evans](/meet-the-team/) has joined [Recordsure](/) and [TCC](https://tcc.group/) as Chief Product Officer, leading the group’s Product Development. An accomplished technological innovator, Garry has more than 20 years of experience developing solutions that drive significant financial and social impact. He also brings extensive product and market development knowledge. #### Product and FinTech experience Garry spent much of his early career in FinTech start-up environments, where he developed a passion for finding new solutions to complex problems and creating products with the potential to change how compliance and risk are managed. More recently, he worked closely with OpenWrks and Tully on a landmark project that resulted in the world’s first Open Banking-driven, B2C debt advice solution to feature Conversational AI capabilities. > I’m excited to join Recordsure and TCC to oversee the future development of the strong compliance, conduct and RegTech product portfolio. My focus is on bringing new and improved solutions to the market that benefit our clients and improve customer outcomes. Garry Evans, Group Chief Product Officer, Recordsure and TCC #### Leading product development At Recordsure and TCC, Garry heads the Product Development and Delivery team. Under this remit, he will lead work to bring the latest advances in RegTech and AI-enabled solutions to a wider audience. His insight and experience position him to address the needs of the evolving financial industry as Recordsure and TCC tackle ongoing challenges and newly emerging concerns from across the market landscape. Find out more about [Garry Evans](/meet-the-team/) and the experience he brings to Recordsure. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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He will lead Product Development and Delivery across the group\u2019s compliance, conduct and RegTech portfolio.\n\nGarry Evans has joined Recordsure and TCC as Chief Product Officer, leading the group\u2019s Product Development.\n\nAn accomplished technological innovator, Garry has more than 20 years of experience developing solutions that drive significant financial and social impact. He also brings extensive product and market development knowledge.\n\nProduct and FinTech experience\n\nGarry spent much of his early career in FinTech start-up environments, where he developed a passion for finding new solutions to complex problems and creating products with the potential to change how compliance and risk are managed.\n\nMore recently, he worked closely with OpenWrks and Tully on a landmark project that resulted in the world\u2019s first Open Banking-driven, B2C debt advice solution to feature Conversational AI capabilities.\n\nI\u2019m excited to join Recordsure and TCC to oversee the future development of the strong compliance, conduct and RegTech product portfolio. My focus is on bringing new and improved solutions to the market that benefit our clients and improve customer outcomes. Garry Evans, Group Chief Product Officer, Recordsure and TCC\n\nLeading product development\n\nAt Recordsure and TCC, Garry heads the Product Development and Delivery team. Under this remit, he will lead work to bring the latest advances in RegTech and AI-enabled solutions to a wider audience.\n\nHis insight and experience position him to address the needs of the evolving financial industry as Recordsure and TCC tackle ongoing challenges and newly emerging concerns from across the market landscape.\n\nFind out more about Garry Evans and the experience he brings to Recordsure.", "wordCount": 273, "keywords": [ "Banking", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Product leadership" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "Garry Evans has joined Recordsure and TCC as Chief Product Officer, leading the group\u2019s Product Development.\n\nAn accomplished technological innovator, Garry has more than 20 years of experience developing solutions that drive significant financial and social impact. He also brings extensive product and market development knowledge." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/garry-evans-new-chief-product-officer-for-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Product and FinTech experience", "text": "Garry spent much of his early career in FinTech start-up environments, where he developed a passion for finding new solutions to complex problems and creating products with the potential to change how compliance and risk are managed.\n\nMore recently, he worked closely with OpenWrks and Tully on a landmark project that resulted in the world\u2019s first Open Banking-driven, B2C debt advice solution to feature Conversational AI capabilities.\n\nI\u2019m excited to join Recordsure and TCC to oversee the future development of the strong compliance, conduct and RegTech product portfolio. 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The assessment covered environment, ethics, labour and human rights, and sustainable procurement. #### Key points - Recordsure received a silver medal in its EcoVadis sustainability assessment. - It placed within the top 19% of surveyed businesses in relevant industries. - The assessment uses international standards including the United Nations Global Compact, Global Reporting Initiative and ISO 26000. - Recordsure highlighted an ‘Advanced’ score within the Ethics category. Recordsure received a silver medal in its recent EcoVadis sustainability assessment and placed within the top 19% of all businesses surveyed within the computer programming and consultancy industries to date. Recordsure says sustainability matters because addressing environmental, social and ethical concerns in financial services benefits clients, their customers and the planet. The company described achieving the silver rating as a source of delight. #### EcoVadis assessment and focus areas EcoVadis is one of the most thorough and well-trusted business sustainability rankings worldwide. The assessment is conducted in accordance with the latest international sustainability standards, including the United Nations Global Compact, Global Reporting Initiative and ISO 26000, and is overseen by an expert committee of supply chain and green business specialists. The assessment methodology has been used by 75,000 companies worldwide. Its four focus areas are environment, ethics, labour and human rights, and sustainable procurement. #### What the rating means for Recordsure Recordsure’s silver rating reflects increasing efforts to support environmental, social and ethical causes through business activities and wider strategies over the past few years. The company said it was proud of the ‘Advanced’ score within the Ethics category, which it said exemplifies its commitment to fostering socially conscious values across the team. Recordsure promotes an inclusive, forward-looking culture that puts customers at the heart of its work and decisions. Victoria Mansbridge, Head of Bid Management at Recordsure and TCC, said the silver rating acknowledged work to ensure high standards in sustainable procurement, labour and human rights, ethical practices and environmental actions. She said transparency is important to clients and partners, and that the award reflects dedication to high industry standards. Recordsure thanked EcoVadis for its encouragement and support and said it looked forward to continuing purpose-driven innovation in the new year and beyond. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The assessment covered environment, ethics, labour and human rights, and sustainable procurement.\n\nRecordsure received a silver medal in its recent EcoVadis sustainability assessment and placed within the top 19% of all businesses surveyed within the computer programming and consultancy industries to date.\n\nRecordsure says sustainability matters because addressing environmental, social and ethical concerns in financial services benefits clients, their customers and the planet. The company described achieving the silver rating as a source of delight.\n\nEcoVadis assessment and focus areas\n\nEcoVadis is one of the most thorough and well-trusted business sustainability rankings worldwide. The assessment is conducted in accordance with the latest international sustainability standards, including the United Nations Global Compact, Global Reporting Initiative and ISO 26000, and is overseen by an expert committee of supply chain and green business specialists.\n\nThe assessment methodology has been used by 75,000 companies worldwide. Its four focus areas are environment, ethics, labour and human rights, and sustainable procurement.\n\nWhat the rating means for Recordsure\n\nRecordsure\u2019s silver rating reflects increasing efforts to support environmental, social and ethical causes through business activities and wider strategies over the past few years.\n\nThe company said it was proud of the \u2018Advanced\u2019 score within the Ethics category, which it said exemplifies its commitment to fostering socially conscious values across the team. Recordsure promotes an inclusive, forward-looking culture that puts customers at the heart of its work and decisions.\n\nVictoria Mansbridge, Head of Bid Management at Recordsure and TCC, said the silver rating acknowledged work to ensure high standards in sustainable procurement, labour and human rights, ethical practices and environmental actions. 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Its four focus areas are environment, ethics, labour and human rights, and sustainable procurement." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-achieves-silver-rating-for-sustainability/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-achieves-silver-rating-for-sustainability/#webpage" }, "inLanguage": "en-GB", "headline": "What the rating means for Recordsure", "text": "Recordsure\u2019s silver rating reflects increasing efforts to support environmental, social and ethical causes through business activities and wider strategies over the past few years.\n\nThe company said it was proud of the \u2018Advanced\u2019 score within the Ethics category, which it said exemplifies its commitment to fostering socially conscious values across the team. 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The partnership focuses on compliance, risk management and financial services operations in Australia. #### Key points - ARN Innovation Awards 2021 named KPMG and Recordsure the Partnership Innovation Award winner. - The award recognised customer innovation and excellence in the Enterprise category. - The partnership focuses on document analytics, compliance, risk management and operational issues in Australian financial services. - Recordsure’s analytics and automation tools support review processes and capacity for advisers, support staff and supervisors. [ARN Innovation Awards 2021 named KPMG and Recordsure as the winner of the Partnership Innovation Award](https://www.arnnet.com.au/article/693698/arn-innovation-awards-2021-winners/?fp=2&fpid=1) [ARN](https://www.arnnet.com.au/) announced the winners of the [Innovation Awards 2021](https://www.arnnet.com.au/article/1256641/arn-innovation-awards-2021-and-the-winners-are.html), featuring a leading and diverse line-up of partners, vendors, distributors and individuals. The event sets the industry benchmark for ecosystem innovation and excellence across Australia. #### Partnership recognition [Partner Innovation Award](https://www.arnnet.com.au/article/693698/arn-innovation-awards-2021-winners/?fp=2&fpid=1) recognises customer innovation and excellence across the key market segments of Enterprise, Mid-Market and SMB, in addition to pioneering technology specialists and collaborative providers. [KPMG Australia](https://home.kpmg/au/en/home.html) received this prestigious award for the Enterprise category, which marks the significance of the partnership with Recordsure. KPMG and Recordsure are focused on driving innovation and utilising Recordsure Document and Voice analytics solutions to address regulatory compliance, manage risk and drive better customer outcomes. KPMG wins this award for its work with Recordsure to deliver an industry-leading document analytics service to financial firms in the local market, helping to drive compliance and risk management. The two companies are now working together to solve some of the largest compliance and operational issues at the heart of financial services in Australia. ARN Innovation Awards 2021 With a background in financial services and a proven track record in the industry, Recordsure continually develops smart technology to support teams and increase capacity for advisers, support staff and supervisors. Our analytics and automation tools drive huge efficiencies in review processes. #### Analytics and automation We're privileged to collaborate with KPMG on some of their most prestigious projects. This award is a wonderful recognition of the hard work and dedication from KPMG and Recordsure to bring innovation and efficiencies to the heart of solving the challenges of the financial services industry. Joe Norburn, Group CEO for Recordsure and TCC Recordsure offers uniquely repeatable [AI-driven solutions](/) to strategic partners. Our RegTech products can be integrated with virtually any BPM systems, complementing rather than replacing the systems in place. Clients can be remediated quicker and more efficiently, freeing up their clients’ time and resources to respond to customers’ needs and grievances faster, and to focus on nurturing customer relationships [ARN Innovations Awards 2021: and the winners are…](https://www.arnnet.com.au/article/693698/arn-innovation-awards-2021-winners/?fp=2&fpid=1) #### Supporting sources - [ARN Innovation Awards 2021 winners](https://www.arnnet.com.au/article/693698/arn-innovation-awards-2021-winners/?fp=2&fpid=1) - [ARN](https://www.arnnet.com.au/) - [ARN Innovation Awards 2021 announcement](https://www.arnnet.com.au/article/1256641/arn-innovation-awards-2021-and-the-winners-are.html) - [KPMG Australia](https://home.kpmg/au/en/home.html) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The partnership focuses on compliance, risk management and financial services operations in Australia.\n\nARN Innovation Awards 2021 named KPMG and Recordsure as the winner of the Partnership Innovation Award\n\nARN announced the winners of the Innovation Awards 2021, featuring a leading and diverse line-up of partners, vendors, distributors and individuals. The event sets the industry benchmark for ecosystem innovation and excellence across Australia.\n\nPartnership recognition\n\nPartner Innovation Award recognises customer innovation and excellence across the key market segments of Enterprise, Mid-Market and SMB, in addition to pioneering technology specialists and collaborative providers. KPMG Australia received this prestigious award for the Enterprise category, which marks the significance of the partnership with Recordsure. KPMG and Recordsure are focused on driving innovation and utilising Recordsure Document and Voice analytics solutions to address regulatory compliance, manage risk and drive better customer outcomes.\n\nKPMG wins this award for its work with Recordsure to deliver an industry-leading document analytics service to financial firms in the local market, helping to drive compliance and risk management. The two companies are now working together to solve some of the largest compliance and operational issues at the heart of financial services in Australia. ARN Innovation Awards 2021\n\nWith a background in financial services and a proven track record in the industry, Recordsure continually develops smart technology to support teams and increase capacity for advisers, support staff and supervisors. Our analytics and automation tools drive huge efficiencies in review processes.\n\nAnalytics and automation\n\nWe're privileged to collaborate with KPMG on some of their most prestigious projects. 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The event sets the industry benchmark for ecosystem innovation and excellence across Australia." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#webpage" }, "inLanguage": "en-GB", "headline": "Partnership recognition", "text": "Partner Innovation Award recognises customer innovation and excellence across the key market segments of Enterprise, Mid-Market and SMB, in addition to pioneering technology specialists and collaborative providers. KPMG Australia received this prestigious award for the Enterprise category, which marks the significance of the partnership with Recordsure. KPMG and Recordsure are focused on driving innovation and utilising Recordsure Document and Voice analytics solutions to address regulatory compliance, manage risk and drive better customer outcomes.\n\nKPMG wins this award for its work with Recordsure to deliver an industry-leading document analytics service to financial firms in the local market, helping to drive compliance and risk management. The two companies are now working together to solve some of the largest compliance and operational issues at the heart of financial services in Australia. ARN Innovation Awards 2021\n\nWith a background in financial services and a proven track record in the industry, Recordsure continually develops smart technology to support teams and increase capacity for advisers, support staff and supervisors. Our analytics and automation tools drive huge efficiencies in review processes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#webpage" }, "inLanguage": "en-GB", "headline": "Analytics and automation", "text": "We're privileged to collaborate with KPMG on some of their most prestigious projects. This award is a wonderful recognition of the hard work and dedication from KPMG and Recordsure to bring innovation and efficiencies to the heart of solving the challenges of the financial services industry. Joe Norburn, Group CEO for Recordsure and TCC\n\nRecordsure offers uniquely repeatable AI-driven solutions to strategic partners. Our RegTech products can be integrated with virtually any BPM systems, complementing rather than replacing the systems in place. Clients can be remediated quicker and more efficiently, freeing up their clients\u2019 time and resources to respond to customers\u2019 needs and grievances faster, and to focus on nurturing customer relationships\n\nARN Innovations Awards 2021: and the winners are\u2026" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/kpmg-and-recordsure-win-partner-innovation-award/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which award did KPMG and Recordsure win?", "acceptedAnswer": { "@type": "Answer", "text": "ARN Innovation Awards 2021 named KPMG and Recordsure the winner of the Partnership Innovation Award." } }, { "@type": "Question", "name": "What did the award recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognised customer innovation and excellence, with KPMG Australia receiving the award for the Enterprise category." } }, { "@type": "Question", "name": "What work did ARN highlight?", "acceptedAnswer": { "@type": "Answer", "text": "ARN highlighted work delivering document analytics to financial firms in Australia to support compliance and risk management." } } ] } ] } ``` ### RegTech rising, a regulatory revolution - URL: https://recordsure.com/insights/news/news-regtech-rising-a-regulatory-revolution/ - Published: 2021-12-08 - Modified: 2026-10-09 **Topic:** RegTech compliance Financier Worldwide’s feature looks at how RegTech supports compliance monitoring, regulatory change management and risk reporting. Recordsure explains why firms need controls across newer communication channels and remote-working technology. #### Key points - Financial institutions need ways to automate analysis, understand impacts, change processes and refine reporting. - RegTech can automate repetitive tasks, monitor regulatory change, generate reports and alert compliance staff. - Firms need controls across communication channels and every stage of the customer journey. - AI and ML have helped develop tools for managing risk and compliance. [Financier Worldwide Magazine’s feature, ‘RegTech rising, a regulatory revolution’](https://www.financierworldwide.com/regtech-rising-a-regulatory-revolution#.YbCSufHP2_8), focuses on how financial services firms can fulfil compliance obligations efficiently. The feature addresses the role RegTech plays in reducing time spent on operational risk and compliance processes, along with cost savings. Joe Norburn, CEO at Recordsure and [TCC](https://tcc.group), explains the significance of compliance monitoring and RegTech as technology adoption accelerates across the sector. #### RegTech and compliance monitoring To master a wide range of legislative requirements, financial institutions need to automate analysis, understand impacts, change business practices and processes, and fine-tune reporting. RegTech automates repetitive tasks, monitors regulatory changes in real time, generates reports and alerts financial institutions’ compliance staff to potentially fraudulent activity. This automation allows compliance personnel to focus on high-value work that augments their role and increases organisational efficiencies. Joe Norburn said firms had been exposed to alternative communication channels over the last 12 to 18 months but were not fully engaged with them. As a result, new processes and controls are needed to ensure regulatory compliance and fair outcomes for customers across all communication channels and at every stage of the customer journey. #### Implementation barriers and technology choices While [RegTech](/) solutions aim to make regulatory compliance monitoring and risk reporting simpler for financial institutions, there are also barriers to implementation that firms need to overcome. Joe Norburn said the accelerated deployment of new technology-led solutions supports business continuity and adaptation to remote working, while helping firms manage conduct risk, compliance and company culture. He also said the next challenge is to assess the new technology portfolio carefully and ensure alignment with long-term business strategy. Technological advances in AI and ML have driven the development of intelligent tools to manage risk and compliance. In a broad and varied marketplace, financial institutions can now choose RegTech on their own terms, considering accuracy, suitability and scalability rather than being dependent on technology giants. Joe Norburn concluded that the shift in customer behaviour and attitudes over the past couple of years is set to continue, and that firms investing in AI- and ML-driven solutions ahead of others are already seeing commercial benefits with evolving intelligent technologies. #### Supporting sources - [RegTech rising, a regulatory revolution](https://www.financierworldwide.com/regtech-rising-a-regulatory-revolution#.YbCSufHP2_8) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Recordsure explains why firms need controls across newer communication channels and remote-working technology.\n\nFinancier Worldwide Magazine\u2019s feature, \u2018RegTech rising, a regulatory revolution\u2019, focuses on how financial services firms can fulfil compliance obligations efficiently. The feature addresses the role RegTech plays in reducing time spent on operational risk and compliance processes, along with cost savings.\n\nJoe Norburn, CEO at Recordsure and TCC, explains the significance of compliance monitoring and RegTech as technology adoption accelerates across the sector.\n\nRegTech and compliance monitoring\n\nTo master a wide range of legislative requirements, financial institutions need to automate analysis, understand impacts, change business practices and processes, and fine-tune reporting.\n\nRegTech automates repetitive tasks, monitors regulatory changes in real time, generates reports and alerts financial institutions\u2019 compliance staff to potentially fraudulent activity. 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He also said the next challenge is to assess the new technology portfolio carefully and ensure alignment with long-term business strategy.\n\nTechnological advances in AI and ML have driven the development of intelligent tools to manage risk and compliance. 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He also said the next challenge is to assess the new technology portfolio carefully and ensure alignment with long-term business strategy.\n\nTechnological advances in AI and ML have driven the development of intelligent tools to manage risk and compliance. 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Investor demand is moving towards personalised journeys, ethical practice and digital innovation. #### Key points - The study drew on research with 2,325 investors and 500 wealth management firms. - The pandemic accelerated shifts already under way across generations and wealth levels. - Investors want products and services that fit their needs and preferred channels. - Personalisation, ESG expectations and purposeful cultures are becoming more important. - Digital innovation was linked to reported productivity, AUM, revenue, market share and shareholder value gains. Recordsure and [TCC](https://tcc.group/) joined [ThoughtLab](https://thoughtlabgroup.com/wealth-management-4/), [FinTech B2B Marketing](https://fintechb2bmarketing.com/), and wealth management experts from across the globe for an in-depth discussion on how wealth and asset management firms will need to rethink their products, services and business models to meet the shifting needs of investors. Industry experts examined critical findings from a worldwide study of 2,325 investors and 500 wealth management firms which was released on 4th November 2021. The global study, [Wealth and asset management 4.0](/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/), conducted far-reaching research into how digital social and regulatory shifts are transforming the industry, and how the pandemic has changed the wealth sector. The pandemic has been marked as the watershed event for the wealth industry, accelerating shifts that are already in motion across generations and wealth levels. The study explores how a broad range of wealth and asset management providers are adapting to the profound investor changes hastened by the pandemic. #### Technology empowers personalised customer journeys The dramatic shifts in investors’ behaviours are not surprising, with noted changing attitudes over the past three years. Covid, climate change and advancements in digital have been key in driving fundamental changes in behaviours. Transparency around fees and switching providers shows that investors were unhappy with the services they had before. The industry is seeing a real need to change how the investor community serves customers. Investors want to be offered products and services they need and in a way that’s most convenient to them. > Customisation and personalisation of wealth management products and services are very important to investors. Organisations are forced to pay attention and realise the customer journey should not be the same for everybody. Joanne Smith, Founder and Executive Chair, Recordsure Advances in digital technologies provide firms with tools to support customer-driven strategies and better customer experience. Digital strategies offer better targeting and optionality, moving away from the one fits all approach to unique personalised journeys. Joanne Smith, the Founder and Executive Chair at Recordsure and TCC, emphasises the importance of digitalisation for wealth and asset management firms. Putting digital products and technology at the heart of everything organisations do is the key. Digitalisation allows firms to serve the customer in a more tech-savvy way and enhance customer journeys and experiences. If organisations can grasp that, they will dominate in this market. Joanne Smith, Founder and Executive Chair, Recordsure #### Ethics and social responsibility for competitive advantage Investors are increasingly expecting wealth and asset management firms to be more ethical and responsible. Investors rate business practices, leadership vision and integrity in their top criteria and want their providers to have healthy, purposeful cultures. The desire to see progress on environmental, social, and governance issues is not surprising; interest in ESG investing and ESG goals spans generations and demographics. Future-oriented firms have already recognised the advantages of operating as socially responsible organisations. This changing environment brings challenges but also new opportunities, providing firms with the chance to positively impact the world, drive change, and make a real difference for the future. #### Webinar: Wealth and asset management 4.0. How digital social, and regulatory shifts will transform the industry Fundamental shifts for the industry - The growing digital and social imperative across investor segments, and a greater call for product and service democratisation, higher standards, and more transparent pricing. - The convergence of needs and behaviours among investors, including those that are affluent or very rich, the young and the old, and women and men. - The move away from consolidating investments and the increased willingness of investors to switch providers to get what they want or follow their advisors. - The criteria that matters most now to investors when evaluating or selecting wealth management providers. - The steps that wealth management firms plan to take to differentiate themselves and find new growth opportunities in a fiercely competitive marketplace. - The ROI on digital innovation has helped firms boost productivity by 14%, AUM by 8.1%, revenue by 7.7%, market share by 7.3%, and shareholder value by 5.8%. Moderated by: April Rudin, FinTech B2B Marketing Advisory Board Member & CEO, The Rudin Group Panellists included: Joanne Smith, Founder and Executive Chair, TCC Group & Recordsure Charles Smith, Global Head of Digital Solutions, Refinitiv Vinod Raman, VP, Head of Investment & Wealth, Stash Lou Celi, CEO of ThoughtLab, and Director of Wealth and Asset Management 4.0 #### Supporting sources - [Wealth Management 4.0 study](https://thoughtlabgroup.com/wealth-management-4/) - [Wealth and asset management 4.0 webinar](https://www.brighttalk.com/webcast/18610/512936) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Investor demand is moving towards personalised journeys, ethical practice and digital innovation.\n\nRecordsure and TCC joined ThoughtLab, FinTech B2B Marketing, and wealth management experts from across the globe for an in-depth discussion on how wealth and asset management firms will need to rethink their products, services and business models to meet the shifting needs of investors.\n\nIndustry experts examined critical findings from a worldwide study of 2,325 investors and 500 wealth management firms which was released on 4th November 2021.\n\nThe global study, Wealth and asset management 4.0, conducted far-reaching research into how digital social and regulatory shifts are transforming the industry, and how the pandemic has changed the wealth sector.\n\nThe pandemic has been marked as the watershed event for the wealth industry, accelerating shifts that are already in motion across generations and wealth levels. The study explores how a broad range of wealth and asset management providers are adapting to the profound investor changes hastened by the pandemic.\n\nTechnology empowers personalised customer journeys\n\nThe dramatic shifts in investors\u2019 behaviours are not surprising, with noted changing attitudes over the past three years. Covid, climate change and advancements in digital have been key in driving fundamental changes in behaviours. Transparency around fees and switching providers shows that investors were unhappy with the services they had before.\n\nThe industry is seeing a real need to change how the investor community serves customers. Investors want to be offered products and services they need and in a way that\u2019s most convenient to them.\n\nCustomisation and personalisation of wealth management products and services are very important to investors. Organisations are forced to pay attention and realise the customer journey should not be the same for everybody. Joanne Smith, Founder and Executive Chair, Recordsure\n\nAdvances in digital technologies provide firms with tools to support customer-driven strategies and better customer experience. Digital strategies offer better targeting and optionality, moving away from the one fits all approach to unique personalised journeys.\n\nJoanne Smith, the Founder and Executive Chair at Recordsure and TCC, emphasises the importance of digitalisation for wealth and asset management firms.\n\nPutting digital products and technology at the heart of everything organisations do is the key. Digitalisation allows firms to serve the customer in a more tech-savvy way and enhance customer journeys and experiences. If organisations can grasp that, they will dominate in this market. Joanne Smith, Founder and Executive Chair, Recordsure\n\nEthics and social responsibility for competitive advantage\n\nInvestors are increasingly expecting wealth and asset management firms to be more ethical and responsible. Investors rate business practices, leadership vision and integrity in their top criteria and want their providers to have healthy, purposeful cultures.\n\nThe desire to see progress on environmental, social, and governance issues is not surprising; interest in ESG investing and ESG goals spans generations and demographics. Future-oriented firms have already recognised the advantages of operating as socially responsible organisations. This changing environment brings challenges but also new opportunities, providing firms with the chance to positively impact the world, drive change, and make a real difference for the future.\n\nWebinar: Wealth and asset management 4.0. How digital social, and regulatory shifts will transform the industry\n\nFundamental shifts for the industry\n\n\u2022 The growing digital and social imperative across investor segments, and a greater call for product and service democratisation, higher standards, and more transparent pricing.\n\u2022 The convergence of needs and behaviours among investors, including those that are affluent or very rich, the young and the old, and women and men.\n\u2022 The move away from consolidating investments and the increased willingness of investors to switch providers to get what they want or follow their advisors.\n\u2022 The criteria that matters most now to investors when evaluating or selecting wealth management providers.\n\u2022 The steps that wealth management firms plan to take to differentiate themselves and find new growth opportunities in a fiercely competitive marketplace.\n\u2022 The ROI on digital innovation has helped firms boost productivity by 14%, AUM by 8.1%, revenue by 7.7%, market share by 7.3%, and shareholder value by 5.8%.\n\nModerated by: April Rudin, FinTech B2B Marketing Advisory Board Member & CEO, The Rudin Group\n\nPanellists included: Joanne Smith, Founder and Executive Chair, TCC Group & Recordsure Charles Smith, Global Head of Digital Solutions, Refinitiv Vinod Raman, VP, Head of Investment & Wealth, Stash Lou Celi, CEO of ThoughtLab, and Director of Wealth and Asset Management 4.0", "wordCount": 746, "keywords": [ "Payments and FinTech", "Utilities", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth management 4.0" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Utilities" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Wealth Management 4.0 study", "url": "https://thoughtlabgroup.com/wealth-management-4/" }, { "@type": "CreativeWork", "name": "Wealth and asset management 4.0 webinar", "url": "https://www.brighttalk.com/webcast/18610/512936" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure and TCC joined ThoughtLab, FinTech B2B Marketing, and wealth management experts from across the globe for an in-depth discussion on how wealth and asset management firms will need to rethink their products, services and business models to meet the shifting needs of investors.\n\nIndustry experts examined critical findings from a worldwide study of 2,325 investors and 500 wealth management firms which was released on 4th November 2021.\n\nThe global study, Wealth and asset management 4.0, conducted far-reaching research into how digital social and regulatory shifts are transforming the industry, and how the pandemic has changed the wealth sector.\n\nThe pandemic has been marked as the watershed event for the wealth industry, accelerating shifts that are already in motion across generations and wealth levels. The study explores how a broad range of wealth and asset management providers are adapting to the profound investor changes hastened by the pandemic." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#webpage" }, "inLanguage": "en-GB", "headline": "Technology empowers personalised customer journeys", "text": "The dramatic shifts in investors\u2019 behaviours are not surprising, with noted changing attitudes over the past three years. Covid, climate change and advancements in digital have been key in driving fundamental changes in behaviours. Transparency around fees and switching providers shows that investors were unhappy with the services they had before.\n\nThe industry is seeing a real need to change how the investor community serves customers. Investors want to be offered products and services they need and in a way that\u2019s most convenient to them.\n\nCustomisation and personalisation of wealth management products and services are very important to investors. Organisations are forced to pay attention and realise the customer journey should not be the same for everybody. Joanne Smith, Founder and Executive Chair, Recordsure\n\nAdvances in digital technologies provide firms with tools to support customer-driven strategies and better customer experience. Digital strategies offer better targeting and optionality, moving away from the one fits all approach to unique personalised journeys.\n\nJoanne Smith, the Founder and Executive Chair at Recordsure and TCC, emphasises the importance of digitalisation for wealth and asset management firms.\n\nPutting digital products and technology at the heart of everything organisations do is the key. Digitalisation allows firms to serve the customer in a more tech-savvy way and enhance customer journeys and experiences. If organisations can grasp that, they will dominate in this market. Joanne Smith, Founder and Executive Chair, Recordsure" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#webpage" }, "inLanguage": "en-GB", "headline": "Ethics and social responsibility for competitive advantage", "text": "Investors are increasingly expecting wealth and asset management firms to be more ethical and responsible. Investors rate business practices, leadership vision and integrity in their top criteria and want their providers to have healthy, purposeful cultures.\n\nThe desire to see progress on environmental, social, and governance issues is not surprising; interest in ESG investing and ESG goals spans generations and demographics. Future-oriented firms have already recognised the advantages of operating as socially responsible organisations. This changing environment brings challenges but also new opportunities, providing firms with the chance to positively impact the world, drive change, and make a real difference for the future." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#webpage" }, "inLanguage": "en-GB", "headline": "Webinar: Wealth and asset management 4.0. How digital social, and regulatory shifts will transform the industry", "text": "Fundamental shifts for the industry\n\n\u2022 The growing digital and social imperative across investor segments, and a greater call for product and service democratisation, higher standards, and more transparent pricing.\n\u2022 The convergence of needs and behaviours among investors, including those that are affluent or very rich, the young and the old, and women and men.\n\u2022 The move away from consolidating investments and the increased willingness of investors to switch providers to get what they want or follow their advisors.\n\u2022 The criteria that matters most now to investors when evaluating or selecting wealth management providers.\n\u2022 The steps that wealth management firms plan to take to differentiate themselves and find new growth opportunities in a fiercely competitive marketplace.\n\u2022 The ROI on digital innovation has helped firms boost productivity by 14%, AUM by 8.1%, revenue by 7.7%, market share by 7.3%, and shareholder value by 5.8%.\n\nModerated by: April Rudin, FinTech B2B Marketing Advisory Board Member & CEO, The Rudin Group\n\nPanellists included: Joanne Smith, Founder and Executive Chair, TCC Group & Recordsure Charles Smith, Global Head of Digital Solutions, Refinitiv Vinod Raman, VP, Head of Investment & Wealth, Stash Lou Celi, CEO of ThoughtLab, and Director of Wealth and Asset Management 4.0" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/wealth-and-asset-management-study-learnings/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What was the Wealth and Asset Management 4.0 discussion about?", "acceptedAnswer": { "@type": "Answer", "text": "Wealth and asset management firms need to rethink products, services and business models as investor needs shift." } }, { "@type": "Question", "name": "What does personalisation mean for wealth managers?", "acceptedAnswer": { "@type": "Answer", "text": "Investors increasingly want products and services that are customised to their needs and delivered in the most convenient way." } }, { "@type": "Question", "name": "What ethical issues matter to investors?", "acceptedAnswer": { "@type": "Answer", "text": "Investors increasingly expect firms to be ethical and responsible, with business practices, leadership vision and integrity among their top criteria." } } ] } ] } ``` ### Recordsure appoints Mark Hover to drive growth and innovation - URL: https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/ - Published: 2021-11-08 - Modified: 2026-10-09 **Topic:** Leadership appointment Mark Hover joined Recordsure and TCC as Chief Commercial Officer. He brings financial services and FinTech experience, including partnership strategy work at OpenWrks. #### Key points - Mark Hover joined Recordsure and TCC as Chief Commercial Officer. - His role focuses on growth and innovation. - He has financial services experience and helped develop several FinTech businesses. - He joined after time at OpenWrks, a UK open banking pioneer. Mark Hover joins Recordsure team as Chief Commercial Officer We’re delighted to announce that [Mark Hover](https://www.linkedin.com/in/mark-hover-92b3222/) has joined [Recordsure](/) and [TCC](https://tcc.group/) as Chief Commercial Officer. Mark’s appointment comes at an exciting time for us. With a unique combination of deep regulatory expertise and AI-driven technologies, Recordsure and TCC are on a mission to deliver the most innovative, products and services that truly meet the needs of our clients, their customers and the regulators. Together, we are helping our financial services clients solve their biggest compliance and conduct challenges in the most efficient way possible. #### Growth and innovation role We’re pleased to welcome Mark at this exciting time of close collaboration between Recordsure and TCC. In the past two years alone, we’ve won multiple awards across the Group, launched new RegTech products and even expanded into new corners of the globe – and our ambitions don’t stop there. Mark’s impressive track record of finding transformative solutions to complex market challenges will be invaluable for the next stage of our growth. Joe Norburn, Group CEO, Recordsure and TCC With years of experience in financial services and remarkable experience developing several FinTech businesses, Mark will be responsible for driving our growth and innovation. He joins us following a successful time at OpenWrks, a pioneer of UK open banking, where he spearheaded the partnership strategy. #### Mark Hover on joining Recordsure and TCC I’m delighted to be joining the Recordsure and TCC team. With our a shared commitment to innovation, I’m looking forward to building on the Group’s achievements and continuing to support valued clients. Mark Hover, Chief Commercial Officer, Recordsure and TCC > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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He brings financial services and FinTech experience, including partnership strategy work at OpenWrks.\n\nMark Hover joins Recordsure team as Chief Commercial Officer\n\nWe\u2019re delighted to announce that Mark Hover has joined Recordsure and TCC as Chief Commercial Officer.\n\nMark\u2019s appointment comes at an exciting time for us. With a unique combination of deep regulatory expertise and AI-driven technologies, Recordsure and TCC are on a mission to deliver the most innovative, products and services that truly meet the needs of our clients, their customers and the regulators.\n\nTogether, we are helping our financial services clients solve their biggest compliance and conduct challenges in the most efficient way possible.\n\nGrowth and innovation role\n\nWe\u2019re pleased to welcome Mark at this exciting time of close collaboration between Recordsure and TCC. In the past two years alone, we\u2019ve won multiple awards across the Group, launched new RegTech products and even expanded into new corners of the globe \u2013 and our ambitions don\u2019t stop there.\n\nMark\u2019s impressive track record of finding transformative solutions to complex market challenges will be invaluable for the next stage of our growth. Joe Norburn, Group CEO, Recordsure and TCC\n\nWith years of experience in financial services and remarkable experience developing several FinTech businesses, Mark will be responsible for driving our growth and innovation. He joins us following a successful time at OpenWrks, a pioneer of UK open banking, where he spearheaded the partnership strategy.\n\nMark Hover on joining Recordsure and TCC\n\nI\u2019m delighted to be joining the Recordsure and TCC team. With our a shared commitment to innovation, I\u2019m looking forward to building on the Group\u2019s achievements and continuing to support valued clients. Mark Hover, Chief Commercial Officer, Recordsure and TCC", "wordCount": 291, "keywords": [ "Banking", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Leadership appointment" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "Mark Hover joins Recordsure team as Chief Commercial Officer\n\nWe\u2019re delighted to announce that Mark Hover has joined Recordsure and TCC as Chief Commercial Officer.\n\nMark\u2019s appointment comes at an exciting time for us. 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He joins us following a successful time at OpenWrks, a pioneer of UK open banking, where he spearheaded the partnership strategy." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Mark Hover on joining Recordsure and TCC", "text": "I\u2019m delighted to be joining the Recordsure and TCC team. With our a shared commitment to innovation, I\u2019m looking forward to building on the Group\u2019s achievements and continuing to support valued clients. Mark Hover, Chief Commercial Officer, Recordsure and TCC" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/mark-hover-new-chief-commercial-officer-for-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What role did Mark Hover take at Recordsure and TCC?", "acceptedAnswer": { "@type": "Answer", "text": "He joined as Chief Commercial Officer." } }, { "@type": "Question", "name": "What will Mark Hover focus on?", "acceptedAnswer": { "@type": "Answer", "text": "He will be responsible for driving growth and innovation." } }, { "@type": "Question", "name": "Where did Mark Hover work before joining?", "acceptedAnswer": { "@type": "Answer", "text": "He joined after a successful time at OpenWrks, a pioneer of UK open banking, where he led partnership strategy." } } ] } ] } ``` ### Global study, supported by Recordsure and TCC, highlights post-pandemic behavioural shifts facing wealth managers - URL: https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/ - Published: 2021-11-04 - Modified: 2026-10-09 **Topic:** Wealth management shifts The Wealth and Asset Management 4.0 study shows that investors’ priorities changed during the pandemic. Firms need to rethink digital access, ESG, product range, pricing and client segmentation. #### Key points - The research was coordinated by ThoughtLab with support from Recordsure, TCC and major financial services firms. - Digital access, ESG, democratisation, standards, fees and switching behaviour are reshaping investor expectations. - Wealth and asset managers need more client-centric segmentation, products, services and pricing models. - The study surveyed 2,325 investors and 500 advisory and asset management organisations. Recordsure was part of a wide-ranging research project outlining how wealth and asset management firms will have to adjust to changes in investors’ expectations and priorities following the COVID-19 pandemic. The Wealth and Asset Management 4.0 group, coordinated by [ThoughtLab](https://thoughtlabgroup.com/wealth-management-4/) with support from Recordsure, [TCC](https://tcc.group/) and a coalition of major financial services firms, released the full findings of an extensive research project into how the pandemic affected the financial industry. The study, [Wealth and asset management 4.0: How digital social, and regulatory shifts will transform the industry](https://thoughtlabgroup.com/wealth-management-4/), looks at how the pandemic became a watershed moment for the wealth sector. Recordsure had already seen investors’ attitudes and behaviours evolve towards more socially conscious priorities in response to societal issues such as sustainability and D&I. The findings set out how much the pandemic accelerated that change. These changes mean wealth and asset management providers need to rethink their strategies, products, services and pricing models to meet the needs and expectations of modern investors. #### The future of wealth management: what you need to know The research outlines a number of crucial shifts that will dictate the course of the industry over the next few years. - **The shift to digital.** Because of the pandemic, 40% of investors say digital access has become a greater priority, and nine out of 10 say mobile will be their preferred channel in the future. Digital is no longer just the domain of millennial customers; it is now preferred by older and richer investors. - **Investing with purpose.** Over the next two years, 34% of investors will seek ESG investing advice. Investing for social good is no longer limited to millennials: 32% of boomers plan to invest in ESG funds compared with 22% of millennials and 63% of billionaires. - **Democratisation.** In two years, 67% of investors will want to invest in alternatives, 49% in IPOs, 47% in tax-exempts and 45% in commodities. Similarly, 58% of investors will want personal financial planning and 53% will want day-to-day financial management services. The difference between wealth levels is fading; for example, 69% of mass affluent investors want to invest in alternatives compared with 65% of VHNW investors. - **Setting higher standards.** About half of investors say that acting in their best interests is the most effective way for advisers to build relationships with them. When selecting firms, investors use ESG criteria: 48% consider ethical business practices, 41% vision and integrity, 39% approach to inclusion and 34% social purpose. - **Desire for lower fees and greater transparency.** Only 37% of investors are happy with providers’ fees and 36% with fee structures. Even fewer, 35%, understand how their advisers are compensated. Regulators and fintech competition are adding to pricing pressure. - **Investors will switch providers to get what they want.** Over the last year, one-third of investors moved 20% or more of their funds to providers that offered what they wanted. Over the next two years, 44% plan to do so. And 62% said they are likely or very likely to leave firms to follow their advisers. Olivia Fahy, Head of Culture at TCC, said wealth and asset management firms face pressure from investors across generations to provide an ESG offering, with interest spanning generations and demographics. #### What this means for wealth and asset managers To succeed in this marketplace, wealth and asset management firms need a truly client-centric approach, focusing on the person rather than the demographic. That requires reimagining client segmentation, go-to-market strategies, product ranges, services and pricing models. Providers will need to offer a greater variety of products. Almost two-thirds of providers plan to offer alternatives over the next two years, which is a top requirement for investors, and four out of 10 will offer private placements or venture capital opportunities packaged for a wider range of clients. On the services side, more than half of firms plan to offer goals-based planning and add more ancillary financial-related services. Firms will also need to integrate digitalisation into business strategies, shifting digital transformation programmes into high gear while finding the right calibration between high-tech and high-touch approaches. The research shows that firms that embrace digital transformation on average increase productivity by 13.8%, AUM by 8.1% and revenue by 7.7%. Joe Norburn, Group CEO at Recordsure and TCC, said the established wealth and asset management industry has moved through digital change at speed, giving investors a wider range of communications channels to engage with advisers using the methods they are most at ease with. The insights are based on a global survey of 2,325 investors across age and wealth levels, and a cross-country survey of 500 investment advisory groups, private banks and trust companies, broker-dealers, robo-advisers, family offices, and retail, institutional and alternative asset management firms. In addition to Recordsure and TCC Group, the study was sponsored by Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Publicis Sapient and Refinitiv. #### Supporting sources - [ThoughtLab: Wealth and Asset Management 4.0](https://thoughtlabgroup.com/wealth-management-4/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Global study, supported by Recordsure and TCC, highlights post-pandemic behavioural shifts facing wealth managers", "item": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage", "url": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/", "name": "Global study, supported by Recordsure and TCC, highlights post-pandemic behavioural shifts facing wealth managers", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-11-04T01:01:00+00:00", "dateModified": "2021-11-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-11-16" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Global study, supported by Recordsure and TCC, highlights post-pandemic behavioural shifts facing wealth managers", "datePublished": "2021-11-04T01:01:00+00:00", "dateModified": "2026-10-09T04:50:28+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/db638891b3fd432aae247f2efb9a8d09/thumbnail-1024-28c003f0ffa49477cc285268bd8d2d5156d0067035011a74ceb6e696427acb5a.png", "description": "A global study supported by Recordsure and TCC shows how the pandemic accelerated digital, social and regulatory shifts across wealth and asset management.", "inLanguage": "en-GB", "articleBody": "The Wealth and Asset Management 4.0 study shows that investors\u2019 priorities changed during the pandemic. Firms need to rethink digital access, ESG, product range, pricing and client segmentation.\n\nRecordsure was part of a wide-ranging research project outlining how wealth and asset management firms will have to adjust to changes in investors\u2019 expectations and priorities following the COVID-19 pandemic.\n\nThe Wealth and Asset Management 4.0 group, coordinated by ThoughtLab with support from Recordsure, TCC and a coalition of major financial services firms, released the full findings of an extensive research project into how the pandemic affected the financial industry.\n\nThe study, Wealth and asset management 4.0: How digital social, and regulatory shifts will transform the industry, looks at how the pandemic became a watershed moment for the wealth sector.\n\nRecordsure had already seen investors\u2019 attitudes and behaviours evolve towards more socially conscious priorities in response to societal issues such as sustainability and D&I. The findings set out how much the pandemic accelerated that change.\n\nThese changes mean wealth and asset management providers need to rethink their strategies, products, services and pricing models to meet the needs and expectations of modern investors.\n\nThe future of wealth management: what you need to know\n\nThe research outlines a number of crucial shifts that will dictate the course of the industry over the next few years.\n\n\u2022 The shift to digital. Because of the pandemic, 40% of investors say digital access has become a greater priority, and nine out of 10 say mobile will be their preferred channel in the future. Digital is no longer just the domain of millennial customers; it is now preferred by older and richer investors.\n\u2022 Investing with purpose. Over the next two years, 34% of investors will seek ESG investing advice. Investing for social good is no longer limited to millennials: 32% of boomers plan to invest in ESG funds compared with 22% of millennials and 63% of billionaires.\n\u2022 Democratisation. In two years, 67% of investors will want to invest in alternatives, 49% in IPOs, 47% in tax-exempts and 45% in commodities. Similarly, 58% of investors will want personal financial planning and 53% will want day-to-day financial management services. The difference between wealth levels is fading; for example, 69% of mass affluent investors want to invest in alternatives compared with 65% of VHNW investors.\n\u2022 Setting higher standards. About half of investors say that acting in their best interests is the most effective way for advisers to build relationships with them. When selecting firms, investors use ESG criteria: 48% consider ethical business practices, 41% vision and integrity, 39% approach to inclusion and 34% social purpose.\n\u2022 Desire for lower fees and greater transparency. Only 37% of investors are happy with providers\u2019 fees and 36% with fee structures. Even fewer, 35%, understand how their advisers are compensated. Regulators and fintech competition are adding to pricing pressure.\n\u2022 Investors will switch providers to get what they want. Over the last year, one-third of investors moved 20% or more of their funds to providers that offered what they wanted. Over the next two years, 44% plan to do so. And 62% said they are likely or very likely to leave firms to follow their advisers.\n\nOlivia Fahy, Head of Culture at TCC, said wealth and asset management firms face pressure from investors across generations to provide an ESG offering, with interest spanning generations and demographics.\n\nWhat this means for wealth and asset managers\n\nTo succeed in this marketplace, wealth and asset management firms need a truly client-centric approach, focusing on the person rather than the demographic. That requires reimagining client segmentation, go-to-market strategies, product ranges, services and pricing models.\n\nProviders will need to offer a greater variety of products. Almost two-thirds of providers plan to offer alternatives over the next two years, which is a top requirement for investors, and four out of 10 will offer private placements or venture capital opportunities packaged for a wider range of clients. On the services side, more than half of firms plan to offer goals-based planning and add more ancillary financial-related services.\n\nFirms will also need to integrate digitalisation into business strategies, shifting digital transformation programmes into high gear while finding the right calibration between high-tech and high-touch approaches. The research shows that firms that embrace digital transformation on average increase productivity by 13.8%, AUM by 8.1% and revenue by 7.7%.\n\nJoe Norburn, Group CEO at Recordsure and TCC, said the established wealth and asset management industry has moved through digital change at speed, giving investors a wider range of communications channels to engage with advisers using the methods they are most at ease with.\n\nThe insights are based on a global survey of 2,325 investors across age and wealth levels, and a cross-country survey of 500 investment advisory groups, private banks and trust companies, broker-dealers, robo-advisers, family offices, and retail, institutional and alternative asset management firms.\n\nIn addition to Recordsure and TCC Group, the study was sponsored by Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Publicis Sapient and Refinitiv.", "wordCount": 838, "keywords": [ "Banking", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth management shifts" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "ThoughtLab: Wealth and Asset Management 4.0", "url": "https://thoughtlabgroup.com/wealth-management-4/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was part of a wide-ranging research project outlining how wealth and asset management firms will have to adjust to changes in investors\u2019 expectations and priorities following the COVID-19 pandemic.\n\nThe Wealth and Asset Management 4.0 group, coordinated by ThoughtLab with support from Recordsure, TCC and a coalition of major financial services firms, released the full findings of an extensive research project into how the pandemic affected the financial industry.\n\nThe study, Wealth and asset management 4.0: How digital social, and regulatory shifts will transform the industry, looks at how the pandemic became a watershed moment for the wealth sector.\n\nRecordsure had already seen investors\u2019 attitudes and behaviours evolve towards more socially conscious priorities in response to societal issues such as sustainability and D&I. The findings set out how much the pandemic accelerated that change.\n\nThese changes mean wealth and asset management providers need to rethink their strategies, products, services and pricing models to meet the needs and expectations of modern investors." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "inLanguage": "en-GB", "headline": "The future of wealth management: what you need to know", "text": "The research outlines a number of crucial shifts that will dictate the course of the industry over the next few years.\n\n\u2022 The shift to digital. 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The difference between wealth levels is fading; for example, 69% of mass affluent investors want to invest in alternatives compared with 65% of VHNW investors.\n\u2022 Setting higher standards. About half of investors say that acting in their best interests is the most effective way for advisers to build relationships with them. When selecting firms, investors use ESG criteria: 48% consider ethical business practices, 41% vision and integrity, 39% approach to inclusion and 34% social purpose.\n\u2022 Desire for lower fees and greater transparency. Only 37% of investors are happy with providers\u2019 fees and 36% with fee structures. Even fewer, 35%, understand how their advisers are compensated. Regulators and fintech competition are adding to pricing pressure.\n\u2022 Investors will switch providers to get what they want. Over the last year, one-third of investors moved 20% or more of their funds to providers that offered what they wanted. Over the next two years, 44% plan to do so. And 62% said they are likely or very likely to leave firms to follow their advisers.\n\nOlivia Fahy, Head of Culture at TCC, said wealth and asset management firms face pressure from investors across generations to provide an ESG offering, with interest spanning generations and demographics." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "inLanguage": "en-GB", "headline": "What this means for wealth and asset managers", "text": "To succeed in this marketplace, wealth and asset management firms need a truly client-centric approach, focusing on the person rather than the demographic. That requires reimagining client segmentation, go-to-market strategies, product ranges, services and pricing models.\n\nProviders will need to offer a greater variety of products. Almost two-thirds of providers plan to offer alternatives over the next two years, which is a top requirement for investors, and four out of 10 will offer private placements or venture capital opportunities packaged for a wider range of clients. On the services side, more than half of firms plan to offer goals-based planning and add more ancillary financial-related services.\n\nFirms will also need to integrate digitalisation into business strategies, shifting digital transformation programmes into high gear while finding the right calibration between high-tech and high-touch approaches. The research shows that firms that embrace digital transformation on average increase productivity by 13.8%, AUM by 8.1% and revenue by 7.7%.\n\nJoe Norburn, Group CEO at Recordsure and TCC, said the established wealth and asset management industry has moved through digital change at speed, giving investors a wider range of communications channels to engage with advisers using the methods they are most at ease with.\n\nThe insights are based on a global survey of 2,325 investors across age and wealth levels, and a cross-country survey of 500 investment advisory groups, private banks and trust companies, broker-dealers, robo-advisers, family offices, and retail, institutional and alternative asset management firms.\n\nIn addition to Recordsure and TCC Group, the study was sponsored by Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Publicis Sapient and Refinitiv." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/global-study-supported-by-recordsure-and-tcc-highlights-post-pandemic-behavioural-shifts-facing-wealth-managers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who coordinated the Wealth and Asset Management 4.0 research?", "acceptedAnswer": { "@type": "Answer", "text": "The research was coordinated by ThoughtLab with support from Recordsure, TCC and a coalition of major financial services firms." } }, { "@type": "Question", "name": "What investor shifts does the study identify?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies shifts towards digital access, purposeful investing, democratisation, higher standards, lower fees, transparency and switching providers." } }, { "@type": "Question", "name": "What do wealth and asset managers need to rethink?", "acceptedAnswer": { "@type": "Answer", "text": "They need to rethink client segmentation, go-to-market strategies, products, services and pricing models." } }, { "@type": "Question", "name": "What surveys supported the insights?", "acceptedAnswer": { "@type": "Answer", "text": "The insights were based on a global survey of 2,325 investors and a cross-country survey of 500 investment advisory and asset management organisations." } } ] } ] } ``` ### Recordsure named 4th on RegTech 50 list - URL: https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/ - Published: 2021-10-25 - Modified: 2026-10-09 **Topic:** RegTech 50 Recordsure was announced in 4th place on BusinessCloud’s RegTech 50 list for 2021. The reader-and-judge ranking process highlighted Recordsure’s voice and document intelligence for regulated industries. #### Key points - Recordsure was announced in 4th place on BusinessCloud’s RegTech 50 list. - The list celebrates UK startups, scaleups and established firms creating technology for identity and compliance. - The ranking combined a 600-strong reader vote with an independent judging panel. - Judges highlighted UK businesses developing compliance solutions across banking, payments, insurance and regulation. - Recordsure’s voice and document intelligence tools support regulatory compliance, risk management and customer outcomes. Recordsure was announced in 4th place as one of the UK’s most innovative compliance RegTech companies by [BusinessCloud](https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2021). The [RegTech 50](https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2021) list celebrates UK startups, scaleups and established firms creating original technology for identity and compliance. Joe Norburn, CEO at Recordsure, said he was delighted that Recordsure ranked number 4 on the RegTech 50 list and described it as a celebration of the achievements, focus and dedication of the Recordsure team. #### Recordsure RegTech50 The RegTech 50 ranking was driven by a combination of independent judges and reader votes. Following a 600-strong reader vote, an independent judging panel made its choices from the shortlist. The combination decided the final ranking, placing Recordsure at number 4. Jonathan Symcox, RegTech 50 and BusinessCloud Editor, said the first RegTech 50 featured UK businesses creating solutions to help keep companies compliant. He said the list celebrated technology innovators of all sizes and shone a light on businesses in banking, payments, insurance and regulation. Fellow judge Victoria Roberts, Director of Fintech Delivery Panel and Insurtech Board at Tech Nation, reflected on the strength of innovation within UK Fintech. Many UK companies are leading internationally in banking, payments, InsurTech and Regtech. By addressing consumer challenges and enhancing business productivity, RegTech and FinTech are designing the future of personal finances and driving economic growth. #### Why Recordsure? Recordsure is a provider of [voice and document intelligence](/) for regulated industries. Its [speech](/technology/conversation-intelligence/) and [document analytics](/technology/document-intelligence/) tools use AI technologies to deliver regulatory compliance, manage risk and drive better customer outcomes. #### Supporting sources - [BusinessCloud RegTech 50](https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2021) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The reader-and-judge ranking process highlighted Recordsure\u2019s voice and document intelligence for regulated industries.\n\nRecordsure was announced in 4th place as one of the UK\u2019s most innovative compliance RegTech companies by BusinessCloud.\n\nThe RegTech 50 list celebrates UK startups, scaleups and established firms creating original technology for identity and compliance.\n\nJoe Norburn, CEO at Recordsure, said he was delighted that Recordsure ranked number 4 on the RegTech 50 list and described it as a celebration of the achievements, focus and dedication of the Recordsure team.\n\nRecordsure RegTech50\n\nThe RegTech 50 ranking was driven by a combination of independent judges and reader votes. Following a 600-strong reader vote, an independent judging panel made its choices from the shortlist. The combination decided the final ranking, placing Recordsure at number 4.\n\nJonathan Symcox, RegTech 50 and BusinessCloud Editor, said the first RegTech 50 featured UK businesses creating solutions to help keep companies compliant. He said the list celebrated technology innovators of all sizes and shone a light on businesses in banking, payments, insurance and regulation.\n\nFellow judge Victoria Roberts, Director of Fintech Delivery Panel and Insurtech Board at Tech Nation, reflected on the strength of innovation within UK Fintech. Many UK companies are leading internationally in banking, payments, InsurTech and Regtech.\n\nBy addressing consumer challenges and enhancing business productivity, RegTech and FinTech are designing the future of personal finances and driving economic growth.\n\nWhy Recordsure?\n\nRecordsure is a provider of voice and document intelligence for regulated industries. Its speech and document analytics tools use AI technologies to deliver regulatory compliance, manage risk and drive better customer outcomes.", "wordCount": 276, "keywords": [ "Banking", "Insurance", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "RegTech 50" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "BusinessCloud RegTech 50", "url": "https://businesscloud.co.uk/regtech-50-uks-most-innovative-compliance-technology-creators-for-2021" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was announced in 4th place as one of the UK\u2019s most innovative compliance RegTech companies by BusinessCloud.\n\nThe RegTech 50 list celebrates UK startups, scaleups and established firms creating original technology for identity and compliance.\n\nJoe Norburn, CEO at Recordsure, said he was delighted that Recordsure ranked number 4 on the RegTech 50 list and described it as a celebration of the achievements, focus and dedication of the Recordsure team." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure RegTech50", "text": "The RegTech 50 ranking was driven by a combination of independent judges and reader votes. Following a 600-strong reader vote, an independent judging panel made its choices from the shortlist. The combination decided the final ranking, placing Recordsure at number 4.\n\nJonathan Symcox, RegTech 50 and BusinessCloud Editor, said the first RegTech 50 featured UK businesses creating solutions to help keep companies compliant. He said the list celebrated technology innovators of all sizes and shone a light on businesses in banking, payments, insurance and regulation.\n\nFellow judge Victoria Roberts, Director of Fintech Delivery Panel and Insurtech Board at Tech Nation, reflected on the strength of innovation within UK Fintech. Many UK companies are leading internationally in banking, payments, InsurTech and Regtech.\n\nBy addressing consumer challenges and enhancing business productivity, RegTech and FinTech are designing the future of personal finances and driving economic growth." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#webpage" }, "inLanguage": "en-GB", "headline": "Why Recordsure?", "text": "Recordsure is a provider of voice and document intelligence for regulated industries. Its speech and document analytics tools use AI technologies to deliver regulatory compliance, manage risk and drive better customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-makes-regtech-50-list/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where did Recordsure rank on the RegTech 50 list?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure ranked 4th." } }, { "@type": "Question", "name": "Who published the RegTech 50 list?", "acceptedAnswer": { "@type": "Answer", "text": "BusinessCloud published the RegTech 50 list." } }, { "@type": "Question", "name": "How was the final ranking decided?", "acceptedAnswer": { "@type": "Answer", "text": "It combined a 600-strong reader vote with the choices of an independent judging panel." } }, { "@type": "Question", "name": "What sectors did the RegTech 50 highlight?", "acceptedAnswer": { "@type": "Answer", "text": "The RegTech 50 highlighted businesses in banking, payments, insurance and regulation." } } ] } ] } ``` ### Joanne Smith wins GRC Innovator of the Year Award 2021 - URL: https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/ - Published: 2021-10-20 - Modified: 2026-10-09 **Topic:** GRC award Joanne Smith was named GRC Innovator of the Year 2021 by the Women in Governance, Risk and Compliance Awards. Her career, Recordsure’s milestones and support for female entrepreneurs show sustained leadership in RegTech. #### Key points - Joanne Smith was named GRC Innovator of the Year 2021. - The Women in GRC Awards honour female leaders and companies showing excellence across GRC. - Joanne’s work connects consumer trust, compliance expertise and RegTech innovation. - Joanne mentors, supports and invests in female-led technology businesses. Joanne Smith, the Founder and Executive Chair at Recordsure and TCC Group, gets well-deserved recognition by the Women in Governance, Risk and Compliance (GRC) Awards 2021 for her exceptional achievements in bringing pioneering innovations to GRC. We’re proud to announce that Recordsure’s Founder and Executive Chair, Joanne Smith, was named the GRC Innovator of the Year 2021 by the [Women in Governance, Risk and Compliance Awards](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards). These awards honour female leaders and companies demonstrating excellence across GRC. The Women in GRC Awards 2021 showcase the role models, advocates and mentors, as well as the inspirational women and companies building and leading in the world of GRC. The GRC Innovator of the Year Award is dedicated to innovators that drive change. It shines a light on female leaders in the world of GRC that dedicated their careers to solving problems and changing the status quo. “This award is awarded to a female who delivers innovative and new ways of thinking and working in their industry, changing and challenging the way we work,” #WGRC committee. Thank you! I’m honoured to be been named the GRC Innovator of the Year by the Women in GRC Awards. It is fantastic to see GRC and Innovation in the same sentence. Joanne Smith, Founder and Executive Chair, Recordsure and TCC #### Joanne, the force behind the RegTech revolution Joanne, the force behind the RegTech revolution Joanne Smith has forged a career on being a risk-taker and innovator with a resolute growth mindset. Her ambition is to drive consumer trust in financial services, creating an industry that works to benefit everyone. She has focused her career and her businesses, on solving two fundamental issues: unhealthy culture and misconduct, believing that the industry will be a fairer place with consumers and the economy better for it. Joanne approaches challenges with eagerness and has the ability to look at problems from other perspectives to devise creative, innovative solutions. Consequently, Joanne combined her compliance expertise with innovative technology and launched two successful consultancy and RegTech businesses: The Consulting Consortium (now [TCC Group](https://tcc.group/)) in 2000 and [Recordsure](/) in 2012. True to her style, to create [Recordsure](/) and its AI-driven [speech](/technology/conversation-intelligence/) and [document analytics](/technology/document-intelligence/) RegTech, Joanne surrounded herself with experts – data analysts, AI engineers, behaviour and language scientists. She immersed herself in the world of digital and technology and led the business to achieve significant innovation milestones. [Recordsure](/) was the first company to: #### Inspiring the next generation - provide a face-to-face [conversation recording](https://recordsure.com/products/voice/capture/) solution that meets the security needs of financial regulators and information commissioners; - build a [speech recognition](https://recordsure.com/products/voice/capture-speech-recognition-analytics-regulated-market/) system that achieves a high degree of accuracy with multi-party face-to-face conversations; - develop an [artificial intelligence system](https://recordsure.com/products/) that breaks financial conversations into component parts to streamline a variety of compliance, training, competency and customer insight reviews. Inspiring the next generation Joanne has received prestigious awards for her entrepreneurship, innovative leadership and breaking the glass ceiling in the male-dominated sectors of compliance and FinTech. While receiving personal recognition for the impact her innovations have made, Joanne is strongly focused on giving back to the female entrepreneur community. She mentors fellow females, passionately supports female founders and is a serial investor in female-led technology businesses. View the [list of all winners](https://www.womeningrc.com/2021-winners) of the Women in GRC Awards 2021 [here](https://www.womeningrc.com/2021-winners). #### Supporting sources - [Women in Governance, Risk and Compliance Awards](https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards) - [Women in GRC Awards 2021 winners](https://www.womeningrc.com/2021-winners) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Her career, Recordsure\u2019s milestones and support for female entrepreneurs show sustained leadership in RegTech.\n\nJoanne Smith, the Founder and Executive Chair at Recordsure and TCC Group, gets well-deserved recognition by the Women in Governance, Risk and Compliance (GRC) Awards 2021 for her exceptional achievements in bringing pioneering innovations to GRC.\n\nWe\u2019re proud to announce that Recordsure\u2019s Founder and Executive Chair, Joanne Smith, was named the GRC Innovator of the Year 2021 by the Women in Governance, Risk and Compliance Awards.\n\nThese awards honour female leaders and companies demonstrating excellence across GRC.\n\nThe Women in GRC Awards 2021 showcase the role models, advocates and mentors, as well as the inspirational women and companies building and leading in the world of GRC.\n\nThe GRC Innovator of the Year Award is dedicated to innovators that drive change. It shines a light on female leaders in the world of GRC that dedicated their careers to solving problems and changing the status quo.\n\n\u201cThis award is awarded to a female who delivers innovative and new ways of thinking and working in their industry, changing and challenging the way we work,\u201d #WGRC committee.\n\nThank you! I\u2019m honoured to be been named the GRC Innovator of the Year by the Women in GRC Awards. It is fantastic to see GRC and Innovation in the same sentence. Joanne Smith, Founder and Executive Chair, Recordsure and TCC\n\nJoanne, the force behind the RegTech revolution\n\nJoanne, the force behind the RegTech revolution\n\nJoanne Smith has forged a career on being a risk-taker and innovator with a resolute growth mindset. Her ambition is to drive consumer trust in financial services, creating an industry that works to benefit everyone.\n\nShe has focused her career and her businesses, on solving two fundamental issues: unhealthy culture and misconduct, believing that the industry will be a fairer place with consumers and the economy better for it.\n\nJoanne approaches challenges with eagerness and has the ability to look at problems from other perspectives to devise creative, innovative solutions. Consequently, Joanne combined her compliance expertise with innovative technology and launched two successful consultancy and RegTech businesses: The Consulting Consortium (now TCC Group) in 2000 and Recordsure in 2012.\n\nTrue to her style, to create Recordsure and its AI-driven speech and document analytics RegTech, Joanne surrounded herself with experts \u2013 data analysts, AI engineers, behaviour and language scientists. She immersed herself in the world of digital and technology and led the business to achieve significant innovation milestones.\n\nRecordsure was the first company to:\n\nInspiring the next generation\n\n\u2022 provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners;\n\u2022 build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations;\n\u2022 develop an artificial intelligence system that breaks financial conversations into component parts to streamline a variety of compliance, training, competency and customer insight reviews.\n\nInspiring the next generation\n\nJoanne has received prestigious awards for her entrepreneurship, innovative leadership and breaking the glass ceiling in the male-dominated sectors of compliance and FinTech.\n\nWhile receiving personal recognition for the impact her innovations have made, Joanne is strongly focused on giving back to the female entrepreneur community. She mentors fellow females, passionately supports female founders and is a serial investor in female-led technology businesses.\n\nView the list of all winners of the Women in GRC Awards 2021 here.", "wordCount": 579, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "GRC award" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Women in Governance, Risk and Compliance Awards", "url": "https://www.grcworldforums.com/grc/women-in-governance-risk-and-compliance/awards" }, { "@type": "CreativeWork", "name": "Women in GRC Awards 2021 winners", "url": "https://www.womeningrc.com/2021-winners" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#webpage" }, "inLanguage": "en-GB", "text": "Joanne Smith, the Founder and Executive Chair at Recordsure and TCC Group, gets well-deserved recognition by the Women in Governance, Risk and Compliance (GRC) Awards 2021 for her exceptional achievements in bringing pioneering innovations to GRC.\n\nWe\u2019re proud to announce that Recordsure\u2019s Founder and Executive Chair, Joanne Smith, was named the GRC Innovator of the Year 2021 by the Women in Governance, Risk and Compliance Awards.\n\nThese awards honour female leaders and companies demonstrating excellence across GRC.\n\nThe Women in GRC Awards 2021 showcase the role models, advocates and mentors, as well as the inspirational women and companies building and leading in the world of GRC.\n\nThe GRC Innovator of the Year Award is dedicated to innovators that drive change. It shines a light on female leaders in the world of GRC that dedicated their careers to solving problems and changing the status quo.\n\n\u201cThis award is awarded to a female who delivers innovative and new ways of thinking and working in their industry, changing and challenging the way we work,\u201d #WGRC committee.\n\nThank you! I\u2019m honoured to be been named the GRC Innovator of the Year by the Women in GRC Awards. It is fantastic to see GRC and Innovation in the same sentence. Joanne Smith, Founder and Executive Chair, Recordsure and TCC" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#webpage" }, "inLanguage": "en-GB", "headline": "Joanne, the force behind the RegTech revolution", "text": "Joanne, the force behind the RegTech revolution\n\nJoanne Smith has forged a career on being a risk-taker and innovator with a resolute growth mindset. Her ambition is to drive consumer trust in financial services, creating an industry that works to benefit everyone.\n\nShe has focused her career and her businesses, on solving two fundamental issues: unhealthy culture and misconduct, believing that the industry will be a fairer place with consumers and the economy better for it.\n\nJoanne approaches challenges with eagerness and has the ability to look at problems from other perspectives to devise creative, innovative solutions. Consequently, Joanne combined her compliance expertise with innovative technology and launched two successful consultancy and RegTech businesses: The Consulting Consortium (now TCC Group) in 2000 and Recordsure in 2012.\n\nTrue to her style, to create Recordsure and its AI-driven speech and document analytics RegTech, Joanne surrounded herself with experts \u2013 data analysts, AI engineers, behaviour and language scientists. She immersed herself in the world of digital and technology and led the business to achieve significant innovation milestones.\n\nRecordsure was the first company to:" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#webpage" }, "inLanguage": "en-GB", "headline": "Inspiring the next generation", "text": "\u2022 provide a face-to-face conversation recording solution that meets the security needs of financial regulators and information commissioners;\n\u2022 build a speech recognition system that achieves a high degree of accuracy with multi-party face-to-face conversations;\n\u2022 develop an artificial intelligence system that breaks financial conversations into component parts to streamline a variety of compliance, training, competency and customer insight reviews.\n\nInspiring the next generation\n\nJoanne has received prestigious awards for her entrepreneurship, innovative leadership and breaking the glass ceiling in the male-dominated sectors of compliance and FinTech.\n\nWhile receiving personal recognition for the impact her innovations have made, Joanne is strongly focused on giving back to the female entrepreneur community. She mentors fellow females, passionately supports female founders and is a serial investor in female-led technology businesses.\n\nView the list of all winners of the Women in GRC Awards 2021 here." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/joanne-smith-wins-grc-innovator-of-the-year-award-2021/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What award did Joanne Smith win in 2021?", "acceptedAnswer": { "@type": "Answer", "text": "She was named GRC Innovator of the Year 2021 by the Women in Governance, Risk and Compliance Awards." } }, { "@type": "Question", "name": "Which businesses did Joanne Smith launch?", "acceptedAnswer": { "@type": "Answer", "text": "She launched The Consulting Consortium, now TCC Group, in 2000 and Recordsure in 2012." } }, { "@type": "Question", "name": "What Recordsure firsts are listed?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s firsts include face-to-face conversation recording, speech recognition for multi-party face-to-face conversations and an AI system that breaks financial conversations into component parts." } } ] } ] } ``` ### New research reveals profound shifts in investor needs and behaviours that will redefine the wealth industry - URL: https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/ - Published: 2021-10-06 - Modified: 2026-10-09 **Topic:** Investor behaviour A ThoughtLab study of investors and wealth management firms found that the pandemic reshaped investor needs, behaviours and expectations. Wealth and asset managers need a more personal view of clients rather than relying on assumptions about age or wealth. #### Key points - ThoughtLab surveyed 2,325 investors and 500 wealth management firms worldwide. - Digital preferences cut across wealth and age groups, with 89% of several cohorts preferring mobile app engagement. - Millennials still value personal contact, including face-to-face meetings and phone calls. - Investors reported changing goals, adviser relationships, channel preferences, product needs and fee expectations. - The study argues for a client lens based on personal needs and life stages. A global study by [ThoughtLab](https://thoughtlabgroup.com/wealth-management-4/) reports dramatic changes in investor attitudes, behaviours and expectations caused by the COVID-19 pandemic. Wealth and asset management firms will need to revise their thinking about customers and introduce a more personalised approach to succeed. The study of 2,325 investors and 500 wealth management firms worldwide found that the pandemic had upended traditional ways of thinking about investors. It was carried out in partnership with [Recordsure](/), [TCC Group](https://tcc.group/), Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Refinitiv and Publicis Sapient. The pandemic overturned conventional wisdom in the wealth management industry about how providers should serve clients. To succeed in the new marketplace, wealth and asset management firms need to revise their thinking about customers and take a more personalised approach to product and service needs. #### Busting the myth The research reverses several prevailing views about investors. The first myth is that digital engagement is mainly for young, mass-market investors. The study shows little difference in digital tastes: the proportion of investors preferring to use a mobile app to engage with wealth firms is identical for the ultra-rich, baby boomers and millennials, at 89%. The second myth is that millennials only want to do things digitally. The research says millennials, like older generations, want personal contact when investing: 46% prefer face-to-face meetings and 40% prefer phone calls. The third myth is that older and richer investors care less about ESG. The study found that 10% of millennials plan to invest in green bonds over the next two years, compared with 15% of boomers and 50% of billionaires. It also found that 22% of millennials plan to invest in ESG funds, compared with 32% of boomers and 36% of billionaires. The fourth myth is that women know less about investing and are more risk-averse than men. The study shows that 24% of women have high knowledge of wealth management, compared with 16% of men, and that the proportions of both genders willing to make high-risk or very high-risk investments are largely the same. Joe Norburn, CEO of Recordsure and TCC Group, said the digital revolution in wealth and asset management was giving investors a wider range of communication channels to use with advisers, based on the methods they are most comfortable with. #### A watershed event for investors The research programme included a worldwide survey and concluded that the pandemic was a watershed event that reshaped investor views across investments, relationships, digital interaction, products, services and fees. - **Investments:** the pandemic made risk mitigation a top goal for half of investors. It also prompted about 4 out of 10 investors to include family members in more wealth decisions and to focus more on active investing and holistic financial planning. - **Relationships:** about a quarter of investors reported fractured relationships with advisers due to inadequate personal service. To mitigate risks, 27% distributed accounts to more firms; among billionaires, the proportion was almost twice that number. The trend is expected to continue, with 4 in 10 investors expecting to move money to another firm within the next two years. - **Digital interaction:** the pandemic made digital access a higher priority for 40% of investors and put 30% more at ease working through video and digital tools. In the next two years, three-quarters of investor interactions with advisers will be through digital channels, although face-to-face meetings will also increase. - **Products and services:** more than two-thirds plan to put money into alternative investments over the next two years. Many more will invest in specialised products such as IPOs, tax-exempt instruments and ESG funds, and many plan to seek personalised planning, holistic advice and non-investment services such as insurance, tax advice and loans. - **Fees:** with more time to spend on investing during the pandemic, about a third of investors reevaluated what they pay. Fewer than 4 out of 10 are happy with their wealth management firms’ fees and fee structures, and only about a third understand how advisers are compensated. Lou Celi, CEO at ThoughtLab and Programme Director, said wealth management providers need to replace assumptions about age and wealth with a client lens focused on personal needs and life stages. An eBook with results from both surveys was due to be released in November, with further updates available from [Wealth and Asset Management 4.0](https://thoughtlabgroup.com/wealth-management-4/). #### Supporting sources - [Wealth and Asset Management 4.0](https://thoughtlabgroup.com/wealth-management-4/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "New research reveals profound shifts in investor needs and behaviours that will redefine the wealth industry", "item": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage", "url": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/", "name": "New research reveals profound shifts in investor needs and behaviours that will redefine the wealth industry", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-10-06T09:38:54+01:00", "dateModified": "2021-11-18T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-11-18" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "New research reveals profound shifts in investor needs and behaviours that will redefine the wealth industry", "datePublished": "2021-10-06T09:38:54+01:00", "dateModified": "2026-10-09T04:50:30+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/178f0d88f77a4d85991514fe20f5178d/thumbnail-1024-94392d94d49c202e891d86a836063a708989cc54e183dffab0446212399f9a04.jpg", "description": "ThoughtLab research finds COVID-19 changed investor expectations, challenging assumptions about digital channels, ESG, risk appetite, adviser relationships and wealth management fees.", "inLanguage": "en-GB", "articleBody": "A ThoughtLab study of investors and wealth management firms found that the pandemic reshaped investor needs, behaviours and expectations. Wealth and asset managers need a more personal view of clients rather than relying on assumptions about age or wealth.\n\nA global study by ThoughtLab reports dramatic changes in investor attitudes, behaviours and expectations caused by the COVID-19 pandemic. Wealth and asset management firms will need to revise their thinking about customers and introduce a more personalised approach to succeed.\n\nThe study of 2,325 investors and 500 wealth management firms worldwide found that the pandemic had upended traditional ways of thinking about investors. It was carried out in partnership with Recordsure, TCC Group, Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Refinitiv and Publicis Sapient.\n\nThe pandemic overturned conventional wisdom in the wealth management industry about how providers should serve clients. To succeed in the new marketplace, wealth and asset management firms need to revise their thinking about customers and take a more personalised approach to product and service needs.\n\nBusting the myth\n\nThe research reverses several prevailing views about investors. The first myth is that digital engagement is mainly for young, mass-market investors. The study shows little difference in digital tastes: the proportion of investors preferring to use a mobile app to engage with wealth firms is identical for the ultra-rich, baby boomers and millennials, at 89%.\n\nThe second myth is that millennials only want to do things digitally. The research says millennials, like older generations, want personal contact when investing: 46% prefer face-to-face meetings and 40% prefer phone calls.\n\nThe third myth is that older and richer investors care less about ESG. The study found that 10% of millennials plan to invest in green bonds over the next two years, compared with 15% of boomers and 50% of billionaires. It also found that 22% of millennials plan to invest in ESG funds, compared with 32% of boomers and 36% of billionaires.\n\nThe fourth myth is that women know less about investing and are more risk-averse than men. The study shows that 24% of women have high knowledge of wealth management, compared with 16% of men, and that the proportions of both genders willing to make high-risk or very high-risk investments are largely the same.\n\nJoe Norburn, CEO of Recordsure and TCC Group, said the digital revolution in wealth and asset management was giving investors a wider range of communication channels to use with advisers, based on the methods they are most comfortable with.\n\nA watershed event for investors\n\nThe research programme included a worldwide survey and concluded that the pandemic was a watershed event that reshaped investor views across investments, relationships, digital interaction, products, services and fees.\n\n\u2022 Investments: the pandemic made risk mitigation a top goal for half of investors. It also prompted about 4 out of 10 investors to include family members in more wealth decisions and to focus more on active investing and holistic financial planning.\n\u2022 Relationships: about a quarter of investors reported fractured relationships with advisers due to inadequate personal service. To mitigate risks, 27% distributed accounts to more firms; among billionaires, the proportion was almost twice that number. The trend is expected to continue, with 4 in 10 investors expecting to move money to another firm within the next two years.\n\u2022 Digital interaction: the pandemic made digital access a higher priority for 40% of investors and put 30% more at ease working through video and digital tools. In the next two years, three-quarters of investor interactions with advisers will be through digital channels, although face-to-face meetings will also increase.\n\u2022 Products and services: more than two-thirds plan to put money into alternative investments over the next two years. Many more will invest in specialised products such as IPOs, tax-exempt instruments and ESG funds, and many plan to seek personalised planning, holistic advice and non-investment services such as insurance, tax advice and loans.\n\u2022 Fees: with more time to spend on investing during the pandemic, about a third of investors reevaluated what they pay. Fewer than 4 out of 10 are happy with their wealth management firms\u2019 fees and fee structures, and only about a third understand how advisers are compensated.\n\nLou Celi, CEO at ThoughtLab and Programme Director, said wealth management providers need to replace assumptions about age and wealth with a client lens focused on personal needs and life stages. An eBook with results from both surveys was due to be released in November, with further updates available from Wealth and Asset Management 4.0.", "wordCount": 754, "keywords": [ "Insurance", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Investor behaviour" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Wealth and Asset Management 4.0", "url": "https://thoughtlabgroup.com/wealth-management-4/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "inLanguage": "en-GB", "text": "A global study by ThoughtLab reports dramatic changes in investor attitudes, behaviours and expectations caused by the COVID-19 pandemic. Wealth and asset management firms will need to revise their thinking about customers and introduce a more personalised approach to succeed.\n\nThe study of 2,325 investors and 500 wealth management firms worldwide found that the pandemic had upended traditional ways of thinking about investors. It was carried out in partnership with Recordsure, TCC Group, Deloitte, eToro, FIS, Salesforce, Appway, HCL, LexisNexis Risk Solutions, Refinitiv and Publicis Sapient.\n\nThe pandemic overturned conventional wisdom in the wealth management industry about how providers should serve clients. To succeed in the new marketplace, wealth and asset management firms need to revise their thinking about customers and take a more personalised approach to product and service needs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "inLanguage": "en-GB", "headline": "Busting the myth", "text": "The research reverses several prevailing views about investors. The first myth is that digital engagement is mainly for young, mass-market investors. The study shows little difference in digital tastes: the proportion of investors preferring to use a mobile app to engage with wealth firms is identical for the ultra-rich, baby boomers and millennials, at 89%.\n\nThe second myth is that millennials only want to do things digitally. The research says millennials, like older generations, want personal contact when investing: 46% prefer face-to-face meetings and 40% prefer phone calls.\n\nThe third myth is that older and richer investors care less about ESG. The study found that 10% of millennials plan to invest in green bonds over the next two years, compared with 15% of boomers and 50% of billionaires. It also found that 22% of millennials plan to invest in ESG funds, compared with 32% of boomers and 36% of billionaires.\n\nThe fourth myth is that women know less about investing and are more risk-averse than men. The study shows that 24% of women have high knowledge of wealth management, compared with 16% of men, and that the proportions of both genders willing to make high-risk or very high-risk investments are largely the same.\n\nJoe Norburn, CEO of Recordsure and TCC Group, said the digital revolution in wealth and asset management was giving investors a wider range of communication channels to use with advisers, based on the methods they are most comfortable with." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "inLanguage": "en-GB", "headline": "A watershed event for investors", "text": "The research programme included a worldwide survey and concluded that the pandemic was a watershed event that reshaped investor views across investments, relationships, digital interaction, products, services and fees.\n\n\u2022 Investments: the pandemic made risk mitigation a top goal for half of investors. It also prompted about 4 out of 10 investors to include family members in more wealth decisions and to focus more on active investing and holistic financial planning.\n\u2022 Relationships: about a quarter of investors reported fractured relationships with advisers due to inadequate personal service. To mitigate risks, 27% distributed accounts to more firms; among billionaires, the proportion was almost twice that number. The trend is expected to continue, with 4 in 10 investors expecting to move money to another firm within the next two years.\n\u2022 Digital interaction: the pandemic made digital access a higher priority for 40% of investors and put 30% more at ease working through video and digital tools. In the next two years, three-quarters of investor interactions with advisers will be through digital channels, although face-to-face meetings will also increase.\n\u2022 Products and services: more than two-thirds plan to put money into alternative investments over the next two years. Many more will invest in specialised products such as IPOs, tax-exempt instruments and ESG funds, and many plan to seek personalised planning, holistic advice and non-investment services such as insurance, tax advice and loans.\n\u2022 Fees: with more time to spend on investing during the pandemic, about a third of investors reevaluated what they pay. Fewer than 4 out of 10 are happy with their wealth management firms\u2019 fees and fee structures, and only about a third understand how advisers are compensated.\n\nLou Celi, CEO at ThoughtLab and Programme Director, said wealth management providers need to replace assumptions about age and wealth with a client lens focused on personal needs and life stages. An eBook with results from both surveys was due to be released in November, with further updates available from Wealth and Asset Management 4.0." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/new-research-reveals-profound-shifts-in-investor-needs-and-behaviours-that-will-redefine-the-wealth-industry/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who conducted the wealth management research?", "acceptedAnswer": { "@type": "Answer", "text": "ThoughtLab conducted the study in partnership with Recordsure, TCC Group and other organisations." } }, { "@type": "Question", "name": "How many participants were included?", "acceptedAnswer": { "@type": "Answer", "text": "The study included 2,325 investors and 500 wealth management firms worldwide." } }, { "@type": "Question", "name": "What did the research find about digital preferences?", "acceptedAnswer": { "@type": "Answer", "text": "It found that digital preferences cut across age and wealth groups, with the same 89% mobile app preference among ultra-rich investors, baby boomers and millennials." } }, { "@type": "Question", "name": "What should wealth management providers change?", "acceptedAnswer": { "@type": "Answer", "text": "Providers need to replace assumptions about age and wealth with a client lens focused on personal needs and life stages." } } ] } ] } ``` ### The AI Innovator of the Year Awards - URL: https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/ - Published: 2021-09-01 - Modified: 2026-10-09 **Topic:** Evidence AI award Kit Ruparel, CTO at Recordsure, was shortlisted for The AI Solutions Provider Innovator at The Aiconics Awards for Evidence AI technology that identifies documentary evidence for financial services compliance reviews. #### Key points - Kit Ruparel was shortlisted for The AI Solutions Provider Innovator. - The Aiconics Awards are part of The AI Summit. - Evidence AI learns from subject matter experts gathering compliance evidence. - The technology predicts documentary evidence for expert review teams. - It combines document, layout and language features to summarise case documentation. [The Aiconics Awards](https://theaiconics.com/), part of [The AI Summit](https://london.theaisummit.com/), are back! [Kit Ruparel](https://www.linkedin.com/in/kitruparel/), Chief Technology Officer at [Recordsure](/), has been shortlisted for The AI Solutions Provider Innovator. The AI Innovator of the Year Awards showcase individuals who have fuelled business transformation with innovative AI projects. The Solutions Provider winner demonstrates exceptional work within an organisation that provides AI hardware/software solutions. Kit Ruparel incepted the idea to use AI to automatically watch evidence that subject matter experts were gathering to identify areas of compliance or non-compliance to financial regulations. #### 'Evidence AI' technology Kit designed the ‘Evidence AI’ technology and worked with Recordsure teams to turn his concept into unique product offering. Recordsure’s ‘Evidence AI’ watches as subject matter experts gather the evidence required to assess case suitability and automatically learns to replicate it. Without any offline training, Recordsure's 'Evidence AI' system predicts the elements of documentary evidence that support the compliant sale of financial services products and offers these to the expert review team as candidate evidence items for their approval. Kit Ruparel, CTO at Recordsure The AI solution that Kit designed for this purpose reviews every line of case documentation and feeds it through a composite Deep Neural Network that fuses various MLP features that concern the document type and layout, Google’s Universal Sentence Encoder and a GLoVe vector matrix; to produce both a shortened summary of key content across the case documentation as well as the evidence candidates. #### Supporting sources - [The Aiconics Awards](https://theaiconics.com/) - [The AI Summit](https://london.theaisummit.com/) > Document Intelligence #### See how Document Intelligence can work for your firm Turn documents, emails and case files into structured, searchable evidence — built for regulated environments. 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Kit Ruparel, Chief Technology Officer at Recordsure, has been shortlisted for The AI Solutions Provider Innovator.\n\nThe AI Innovator of the Year Awards showcase individuals who have fuelled business transformation with innovative AI projects. The Solutions Provider winner demonstrates exceptional work within an organisation that provides AI hardware/software solutions.\n\nKit Ruparel incepted the idea to use AI to automatically watch evidence that subject matter experts were gathering to identify areas of compliance or non-compliance to financial regulations.\n\n'Evidence AI' technology\n\nKit designed the \u2018Evidence AI\u2019 technology and worked with Recordsure teams to turn his concept into unique product offering. Recordsure\u2019s \u2018Evidence AI\u2019 watches as subject matter experts gather the evidence required to assess case suitability and automatically learns to replicate it.\n\nWithout any offline training, Recordsure's 'Evidence AI' system predicts the elements of documentary evidence that support the compliant sale of financial services products and offers these to the expert review team as candidate evidence items for their approval. Kit Ruparel, CTO at Recordsure\n\nThe AI solution that Kit designed for this purpose reviews every line of case documentation and feeds it through a composite Deep Neural Network that fuses various MLP features that concern the document type and layout, Google\u2019s Universal Sentence Encoder and a GLoVe vector matrix; to produce both a shortened summary of key content across the case documentation as well as the evidence candidates.", "wordCount": 268, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Evidence AI award" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "The Aiconics Awards", "url": "https://theaiconics.com/" }, { "@type": "CreativeWork", "name": "The AI Summit", "url": "https://london.theaisummit.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#webpage" }, "inLanguage": "en-GB", "text": "The Aiconics Awards, part of The AI Summit, are back! Kit Ruparel, Chief Technology Officer at Recordsure, has been shortlisted for The AI Solutions Provider Innovator.\n\nThe AI Innovator of the Year Awards showcase individuals who have fuelled business transformation with innovative AI projects. The Solutions Provider winner demonstrates exceptional work within an organisation that provides AI hardware/software solutions.\n\nKit Ruparel incepted the idea to use AI to automatically watch evidence that subject matter experts were gathering to identify areas of compliance or non-compliance to financial regulations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#webpage" }, "inLanguage": "en-GB", "headline": "'Evidence AI' technology", "text": "Kit designed the \u2018Evidence AI\u2019 technology and worked with Recordsure teams to turn his concept into unique product offering. Recordsure\u2019s \u2018Evidence AI\u2019 watches as subject matter experts gather the evidence required to assess case suitability and automatically learns to replicate it.\n\nWithout any offline training, Recordsure's 'Evidence AI' system predicts the elements of documentary evidence that support the compliant sale of financial services products and offers these to the expert review team as candidate evidence items for their approval. Kit Ruparel, CTO at Recordsure\n\nThe AI solution that Kit designed for this purpose reviews every line of case documentation and feeds it through a composite Deep Neural Network that fuses various MLP features that concern the document type and layout, Google\u2019s Universal Sentence Encoder and a GLoVe vector matrix; to produce both a shortened summary of key content across the case documentation as well as the evidence candidates." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/the-ai-innovator-of-the-year-awards/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who was shortlisted for The AI Solutions Provider Innovator?", "acceptedAnswer": { "@type": "Answer", "text": "Kit Ruparel, Chief Technology Officer at Recordsure, was shortlisted." } }, { "@type": "Question", "name": "What is Evidence AI designed to do?", "acceptedAnswer": { "@type": "Answer", "text": "It watches as subject matter experts gather evidence for case suitability and learns to predict documentary evidence for approval." } }, { "@type": "Question", "name": "How does the AI solution work?", "acceptedAnswer": { "@type": "Answer", "text": "It reviews every line of case documentation and combines document, layout and language features to summarise key content and suggest evidence candidates." } } ] } ] } ``` ### Solving wealth management compliance problems: the Recordsure approach - URL: https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/ - Published: 2021-07-19 - Modified: 2026-10-09 **Topic:** Wealth compliance Recordsure CEO Joe Norburn explains how the firm differentiates itself through wealth management domain training, conversation and document coverage, specialist teams and 100% review coverage at scale. #### Key points - Recordsure trains transcription and machine learning models on wealth management language and data. - The product covers recorded conversations and case file documentation across spoken and written interactions. - AI training colleagues transcribe and annotate thousands of hours of client data. - Out-of-the-box models can help firms test the solution before adding more data over time. - Client acceptance rates for recording are consistently over 98% among firms using Recordsure. [Joe Norburn](/meet-the-team/), CEO of [Recordsure](/), spoke to ACCLAIM [*WealthBriefing*](https://www.wealthbriefing.com/) Group Editor Tom Burroughes on how Recordsure addresses compliance problems in wealth and asset management. #### What sets Recordsure apart? Recordsure has focused on clients in the [wealth management sector](/sectors/wealth-and-advice/) and trained its transcription and machine learning models specifically on the language and data from that domain. The company says we understand client problem statements and creates solutions that can work across the industry. The breadth of the product offering is also central. Recordsure provides [compliance monitoring solutions](/technology/conversation-intelligence/) across recorded conversations and case file documentation, covering spoken and written interactions between firms and clients. #### How colleagues contribute Norburn says people are central to Recordsure’s ethos and that everyone contributes. Client delivery teams ensure requirements are understood and the product is configured to meet client needs. Development teams build and test software with functional richness and data security in mind. Data science colleagues research techniques and tooling for machine learning and speech recognition models. Product, marketing and sales teams define direction and explain capabilities. The AI training team is one of Recordsure’s most distinctive teams. Those colleagues transcribe and annotate thousands of hours of client data so machine learning models are trained with high-quality data and clients can trust the output. This contribution across client delivery, development, data science, product, marketing, sales and AI training is presented as central to the organisation’s success. #### Staying on the front foot Compliance monitoring at scale often requires tailoring and client-specific machine learning model development, which can be time-consuming and make short proof of concepts difficult. Because of its experience in the [wealth management sector](/sectors/wealth-and-advice/), Recordsure has developed out-of-the-box models that apply to most advice conversations without requiring additional data. The aim is for firms to test the solution against their own conversations, prove the concept and then add to those models over time. > We believe that innovative RegTech solutions can help improve the experience of colleagues and clients across the wealth management industry. Where firms are grappling with inefficient review processes that rely on random-sample methodologies. There is a better way, Recordsure makes it possible to achieve 100% coverage at scale. Joe Norburn, CEO, made this point in the interview. #### Challenges to overcome Recordsure had to overcome technical challenges to reach the required quality of transcription. The company developed its own speech recognition platform rather than using more readily available technologies. the resulting solution is trained solely on financial services data and delivers consistent results on important and technical language in wealth management conversations. The larger challenge is perception: helping firms accept that clients will agree to being recorded and that recording will not harm relationships. We consistently see client acceptance rates over 98% from firms using its product and helps with adviser training and support. #### Pandemic working practices Recordsure was fairly well set up for a remote-only working environment. A key challenge was ensuring clients remained engaged and comfortable with the approach to colleagues who had access to client data. The company says we understand information security and has passed reviews from some of the world’s biggest banks and financial services companies. Demand for integration with VoIP services such as Teams and Zoom has increased, and the Recordsure app can record audio from almost any VoIP solution. #### Differentiators and future prospects Beyond technology, Recordsure describes itself as a RegTech firm built by compliance specialists for compliance practitioners. It understands the challenge of monitoring customer interactions at scale and develops products for wealth management monitoring. This has become more important as advisers have worked remotely and traditional supervisory practices have not kept pace. Recordsure says it can help advisory firms move from small random samples to 100% coverage, guiding skilled human resource to where it is most needed. technology adoption in wealth management accelerated over the eighteen months after the global pandemic. Client attitudes and behaviours changed, and firms are expected to meet clients on their terms and channels. With the economic implications of the pandemic still unfolding, people are likely to need financial advice, and firms combining high-quality advice with monitored technology are expected to be well placed. these differentiators remain relevant because firms need compliance assurance that can endure remote advice, changing client expectations and increased use of digital channels. #### Supporting sources - [WealthBriefing](https://www.wealthbriefing.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The aim is for firms to test the solution against their own conversations, prove the concept and then add to those models over time.\n\nWe believe that innovative RegTech solutions can help improve the experience of colleagues and clients across the wealth management industry. Where firms are grappling with inefficient review processes that rely on random-sample methodologies. There is a better way, Recordsure makes it possible to achieve 100% coverage at scale.\n\nJoe Norburn, CEO, made this point in the interview.\n\nChallenges to overcome\n\nRecordsure had to overcome technical challenges to reach the required quality of transcription. The company developed its own speech recognition platform rather than using more readily available technologies.\n\nthe resulting solution is trained solely on financial services data and delivers consistent results on important and technical language in wealth management conversations. 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Client delivery teams ensure requirements are understood and the product is configured to meet client needs.\n\nDevelopment teams build and test software with functional richness and data security in mind. Data science colleagues research techniques and tooling for machine learning and speech recognition models. Product, marketing and sales teams define direction and explain capabilities.\n\nThe AI training team is one of Recordsure\u2019s most distinctive teams. Those colleagues transcribe and annotate thousands of hours of client data so machine learning models are trained with high-quality data and clients can trust the output.\n\nThis contribution across client delivery, development, data science, product, marketing, sales and AI training is presented as central to the organisation\u2019s success." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#webpage" }, "inLanguage": "en-GB", "headline": "Staying on the front foot", "text": "Compliance monitoring at scale often requires tailoring and client-specific machine learning model development, which can be time-consuming and make short proof of concepts difficult.\n\nBecause of its experience in the wealth management sector, Recordsure has developed out-of-the-box models that apply to most advice conversations without requiring additional data. 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A key challenge was ensuring clients remained engaged and comfortable with the approach to colleagues who had access to client data.\n\nThe company says we understand information security and has passed reviews from some of the world\u2019s biggest banks and financial services companies. Demand for integration with VoIP services such as Teams and Zoom has increased, and the Recordsure app can record audio from almost any VoIP solution." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#webpage" }, "inLanguage": "en-GB", "headline": "Differentiators and future prospects", "text": "Beyond technology, Recordsure describes itself as a RegTech firm built by compliance specialists for compliance practitioners. It understands the challenge of monitoring customer interactions at scale and develops products for wealth management monitoring.\n\nThis has become more important as advisers have worked remotely and traditional supervisory practices have not kept pace. Recordsure says it can help advisory firms move from small random samples to 100% coverage, guiding skilled human resource to where it is most needed.\n\ntechnology adoption in wealth management accelerated over the eighteen months after the global pandemic. Client attitudes and behaviours changed, and firms are expected to meet clients on their terms and channels. With the economic implications of the pandemic still unfolding, people are likely to need financial advice, and firms combining high-quality advice with monitored technology are expected to be well placed.\n\nthese differentiators remain relevant because firms need compliance assurance that can endure remote advice, changing client expectations and increased use of digital channels." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/solving-wealth-management-compliance-problems-recordsure-approach-delivers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does Recordsure say differentiates it?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure trains models on wealth management language and covers both recorded conversations and case file documentation." } }, { "@type": "Question", "name": "Why is the AI training team important?", "acceptedAnswer": { "@type": "Answer", "text": "The team transcribes and annotates thousands of hours of client data so machine learning models are trained with high-quality examples." } }, { "@type": "Question", "name": "What challenge does Recordsure identify around recording?", "acceptedAnswer": { "@type": "Answer", "text": "Firms must be comfortable that clients will agree to being recorded and that relationships will not be harmed." } }, { "@type": "Question", "name": "How did remote working affect demand?", "acceptedAnswer": { "@type": "Answer", "text": "Demand grew for integrations with VoIP services such as Teams and Zoom." } } ] } ] } ``` ### Recordsure develops award-winning technology for Wealth Management - URL: https://recordsure.com/insights/news/recordsure-develops-award-winning-technology-for-wealth-management/ - Published: 2021-07-06 - Modified: 2026-10-09 **Topic:** WealthTech awards Recordsure won the new Innovative Use of Artificial Intelligence category at the WealthBriefing European Awards 2021. Judges recognised Recordsure’s approach to regulatory and compliance problems, including the use of AI to categorise and index core recording content. #### Key points - WealthBriefing’s European Awards 2021 received a record number of entries and applied high international standards. - Judges assessed superior service, client satisfaction, sustainable business models, management quality and category-specific criteria. - Recordsure won the new AI category for helping categorise and index core recording content. - Recordsure technology helps firms move beyond random-sample review methodologies to 100% coverage at scale. The wealth management market programme, driven by [WealthBriefing](https://www.wealthbriefing.com/html/index.php), took the world stage through the WealthBriefing European Awards 2021. The programme showed continuing relevance with a record number of entries, meaning each submission had to demonstrate high international standards. Evidence of superior service, client satisfaction, a sustainable business model, a well-managed business and category-specific criteria all shaped the search for each winner. This year’s winners showed resilience by maintaining and extending their offering in unique circumstances. #### Innovative use of artificial intelligence The Innovative Use of Artificial Intelligence category was described as highly competitive. A panel of industry experts used a rigorous process to debate, discuss and vote for the winning technology provider. Recordsure was selected as the winner. Philip Harris, COO at [WealthBriefing](https://www.wealthbriefing.com/html/index.php), shared the judges’ view that Recordsure showed a strong application of AI and a defined solution to categorise and index core recording content. The judges said the solution addressed real regulatory and compliance problems, as well as the consumption of time. #### Award-winning technology from Recordsure Recordsure was founded to solve regulatory compliance issues in the financial sector and to help protect customers. Its [AI-led analytics tools](/) address compliance issues and risk management, while supporting operational efficiencies for banks and [wealth management](/sectors/wealth-and-advice/) firms. Being the first winner of the new AI category gave recognition to Recordsure’s work, focus and delivery in financial services. Joe Norburn, CEO at Recordsure, said innovative RegTech solutions can improve the experience of colleagues and clients across wealth management. He said the award showed the strength of Recordsure’s product for firms facing inefficient review processes that rely on random-sample methodologies, and that Recordsure makes 100% coverage at scale possible. #### Supporting sources - [WealthBriefing](https://www.wealthbriefing.com/html/index.php) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Judges recognised Recordsure\u2019s approach to regulatory and compliance problems, including the use of AI to categorise and index core recording content.\n\nThe wealth management market programme, driven by WealthBriefing, took the world stage through the WealthBriefing European Awards 2021. The programme showed continuing relevance with a record number of entries, meaning each submission had to demonstrate high international standards.\n\nEvidence of superior service, client satisfaction, a sustainable business model, a well-managed business and category-specific criteria all shaped the search for each winner. This year\u2019s winners showed resilience by maintaining and extending their offering in unique circumstances.\n\nInnovative use of artificial intelligence\n\nThe Innovative Use of Artificial Intelligence category was described as highly competitive. A panel of industry experts used a rigorous process to debate, discuss and vote for the winning technology provider.\n\nRecordsure was selected as the winner. Philip Harris, COO at WealthBriefing, shared the judges\u2019 view that Recordsure showed a strong application of AI and a defined solution to categorise and index core recording content. The judges said the solution addressed real regulatory and compliance problems, as well as the consumption of time.\n\nAward-winning technology from Recordsure\n\nRecordsure was founded to solve regulatory compliance issues in the financial sector and to help protect customers. Its AI-led analytics tools address compliance issues and risk management, while supporting operational efficiencies for banks and wealth management firms.\n\nBeing the first winner of the new AI category gave recognition to Recordsure\u2019s work, focus and delivery in financial services. 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A panel of industry experts used a rigorous process to debate, discuss and vote for the winning technology provider.\n\nRecordsure was selected as the winner. Philip Harris, COO at WealthBriefing, shared the judges\u2019 view that Recordsure showed a strong application of AI and a defined solution to categorise and index core recording content. The judges said the solution addressed real regulatory and compliance problems, as well as the consumption of time." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-develops-award-winning-technology-for-wealth-management/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-develops-award-winning-technology-for-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Award-winning technology from Recordsure", "text": "Recordsure was founded to solve regulatory compliance issues in the financial sector and to help protect customers. 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Speech analytics can support identification, process adherence and review of customer outcomes. #### Key points - The FCA expects vulnerable consumers to be treated fairly and achieve outcomes as good as other consumers. - Firms face two major challenges: spotting vulnerability and ensuring fair treatment after it is identified. - Human judgement remains critical because vulnerability depends on words, tone and customer circumstances. - Conversation Intelligence can monitor topics and risk points across customer interactions at scale. Protecting vulnerable consumers remains a key focus for the [FCA](https://www.fca.org.uk/publications/finalised-guidance/guidance-firms-fair-treatment-vulnerable-customers), making it important for financial services firms to get this right. The FCA has issued [guidance](https://www.fca.org.uk/publications/finalised-guidance/guidance-firms-fair-treatment-vulnerable-customers) to help ensure vulnerable consumers are treated fairly and achieve outcomes as good as other consumers. Some firms have made significant progress, but improvements are required across sectors. Firms need to take proactive steps to understand and respond to customer needs, particularly for those most vulnerable to harm. #### Customer vulnerability, what are the challenges? Financial services organisations such as banks, building societies and insurers face two major concerns when dealing with customer vulnerability. The first is spotting vulnerability during customer interactions and identifying a potentially vulnerable customer. Once vulnerability is identified, firms need to ensure the customer is treated fairly, with respect and dignity, and achieves a good outcome. #### Recognising vulnerability, the key factors for consideration Reliably recognising whether a person is potentially vulnerable from a typical financial services conversation relies on multiple factors. - The words and phrases used by the customer, for example “*my dad died…*”. - How the customer expressed themselves, including whether they sounded upset, angry or happy. - The subjective circumstances of that customer, including how close they were to their dad, whether they were financially reliant on them, whether the death was expected or sudden, whether it was recent or in the past, and whether other significant life events were happening. Human interaction and a well-trained customer care team are critical to recognising such subjective elements and identifying potentially vulnerable customers. Once recognised, the firm then needs to ensure the customer receives appropriate care and fair treatment. #### Dealing with vulnerable customers, monitoring the outcome Financial services firms should aim to achieve the best outcome for all customers. The Covid-19 pandemic increased the focus on vulnerable customers, and firms are expected to take proactive action to drive fair treatment and good customer outcomes while the FCA keeps a close eye on practice. Monitoring customer-agent interactions to provide insights, supervisory oversight and QA has become more important. With AI-driven speech monitoring and voice analytics technologies, firms have a feasible way to manage vulnerability across interactions. *Read more: [Speech Technology Helps Financial Firms Support Vulnerable Customers](/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/)* #### Interactions monitoring, why is Conversation Intelligence useful? [Conversation Intelligence](/technology/conversation-intelligence/) offers analytics and automation to break down customer interaction information at scale, using human review and machine learning. In this context, it allows firms to monitor and manage vulnerability by analysing interaction content against the firm’s processes and good practice. #### Process adherence monitoring Process adherence monitoring helps firms understand whether a vulnerable customer has been treated appropriately and fairly. Capture records, stores and analyses customer-agent interactions at scale so they can be reviewed consistently. #### Key topics identification Classify uses machine learning to identify topics in customer interactions that may relate to vulnerability. The monitored topics can be customised to a firm’s processes and good practice. Examples of conversation monitoring labels include bereavement, financial, age, health, employment, relationship and communication. #### Conversation analysis Assure can then analyse monitored topics for process adherence. Risk points might include whether the adviser or agent asked how the customer was feeling about a recent bereavement, suggested forwarding the customer to a bereavement team, suggested the customer consider having a third party present, or established that the customer could understand them with that third party. Conversation Intelligence is built for the financial services sector to support firms in monitoring, managing and analysing 100% of interactions with vulnerable customers, and scaling their operations. Firms can use this approach to discuss vulnerable-customer interaction monitoring and management. #### Supporting sources - [FCA guidance for firms on the fair treatment of vulnerable customers](https://www.fca.org.uk/publications/finalised-guidance/guidance-firms-fair-treatment-vulnerable-customers) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI-driven speech analytics help financial services manage vulnerability", "item": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/", "name": "AI-driven speech analytics help financial services manage vulnerability", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-06-28T12:34:04+01:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI-driven speech analytics help financial services manage vulnerability", "datePublished": "2021-06-28T12:34:04+01:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/324c236dbe0140a29952a4b00c661e63/thumbnail-1024-bcc22a4e0fb902db99ad570b6bcc322c72c19abac4c41099566ee6b74c69473f.jpg", "description": "Speech analytics can help financial services firms identify vulnerable customers, monitor interaction outcomes and evidence fair treatment across customer conversations.", "inLanguage": "en-GB", "articleBody": "Vulnerability monitoring requires both human judgement and technology. Speech analytics can support identification, process adherence and review of customer outcomes.\n\nProtecting vulnerable consumers remains a key focus for the FCA, making it important for financial services firms to get this right. The FCA has issued guidance to help ensure vulnerable consumers are treated fairly and achieve outcomes as good as other consumers.\n\nSome firms have made significant progress, but improvements are required across sectors. Firms need to take proactive steps to understand and respond to customer needs, particularly for those most vulnerable to harm.\n\nCustomer vulnerability, what are the challenges?\n\nFinancial services organisations such as banks, building societies and insurers face two major concerns when dealing with customer vulnerability. The first is spotting vulnerability during customer interactions and identifying a potentially vulnerable customer.\n\nOnce vulnerability is identified, firms need to ensure the customer is treated fairly, with respect and dignity, and achieves a good outcome.\n\nRecognising vulnerability, the key factors for consideration\n\nReliably recognising whether a person is potentially vulnerable from a typical financial services conversation relies on multiple factors.\n\n\u2022 The words and phrases used by the customer, for example \u201cmy dad died\u2026\u201d.\n\u2022 How the customer expressed themselves, including whether they sounded upset, angry or happy.\n\u2022 The subjective circumstances of that customer, including how close they were to their dad, whether they were financially reliant on them, whether the death was expected or sudden, whether it was recent or in the past, and whether other significant life events were happening.\n\nHuman interaction and a well-trained customer care team are critical to recognising such subjective elements and identifying potentially vulnerable customers. Once recognised, the firm then needs to ensure the customer receives appropriate care and fair treatment.\n\nDealing with vulnerable customers, monitoring the outcome\n\nFinancial services firms should aim to achieve the best outcome for all customers. The Covid-19 pandemic increased the focus on vulnerable customers, and firms are expected to take proactive action to drive fair treatment and good customer outcomes while the FCA keeps a close eye on practice.\n\nMonitoring customer-agent interactions to provide insights, supervisory oversight and QA has become more important. With AI-driven speech monitoring and voice analytics technologies, firms have a feasible way to manage vulnerability across interactions.\n\nRead more: Speech Technology Helps Financial Firms Support Vulnerable Customers\n\nInteractions monitoring, why is Conversation Intelligence useful?\n\nConversation Intelligence offers analytics and automation to break down customer interaction information at scale, using human review and machine learning. In this context, it allows firms to monitor and manage vulnerability by analysing interaction content against the firm\u2019s processes and good practice.\n\nProcess adherence monitoring\n\nProcess adherence monitoring helps firms understand whether a vulnerable customer has been treated appropriately and fairly. Capture records, stores and analyses customer-agent interactions at scale so they can be reviewed consistently.\n\nKey topics identification\n\nClassify uses machine learning to identify topics in customer interactions that may relate to vulnerability. The monitored topics can be customised to a firm\u2019s processes and good practice. Examples of conversation monitoring labels include bereavement, financial, age, health, employment, relationship and communication.\n\nConversation analysis\n\nAssure can then analyse monitored topics for process adherence. Risk points might include whether the adviser or agent asked how the customer was feeling about a recent bereavement, suggested forwarding the customer to a bereavement team, suggested the customer consider having a third party present, or established that the customer could understand them with that third party.\n\nConversation Intelligence is built for the financial services sector to support firms in monitoring, managing and analysing 100% of interactions with vulnerable customers, and scaling their operations. 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The FCA has issued guidance to help ensure vulnerable consumers are treated fairly and achieve outcomes as good as other consumers.\n\nSome firms have made significant progress, but improvements are required across sectors. Firms need to take proactive steps to understand and respond to customer needs, particularly for those most vulnerable to harm." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Customer vulnerability, what are the challenges?", "text": "Financial services organisations such as banks, building societies and insurers face two major concerns when dealing with customer vulnerability. The first is spotting vulnerability during customer interactions and identifying a potentially vulnerable customer.\n\nOnce vulnerability is identified, firms need to ensure the customer is treated fairly, with respect and dignity, and achieves a good outcome." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Recognising vulnerability, the key factors for consideration", "text": "Reliably recognising whether a person is potentially vulnerable from a typical financial services conversation relies on multiple factors.\n\n\u2022 The words and phrases used by the customer, for example \u201cmy dad died\u2026\u201d.\n\u2022 How the customer expressed themselves, including whether they sounded upset, angry or happy.\n\u2022 The subjective circumstances of that customer, including how close they were to their dad, whether they were financially reliant on them, whether the death was expected or sudden, whether it was recent or in the past, and whether other significant life events were happening.\n\nHuman interaction and a well-trained customer care team are critical to recognising such subjective elements and identifying potentially vulnerable customers. Once recognised, the firm then needs to ensure the customer receives appropriate care and fair treatment." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Dealing with vulnerable customers, monitoring the outcome", "text": "Financial services firms should aim to achieve the best outcome for all customers. The Covid-19 pandemic increased the focus on vulnerable customers, and firms are expected to take proactive action to drive fair treatment and good customer outcomes while the FCA keeps a close eye on practice.\n\nMonitoring customer-agent interactions to provide insights, supervisory oversight and QA has become more important. With AI-driven speech monitoring and voice analytics technologies, firms have a feasible way to manage vulnerability across interactions.\n\nRead more: Speech Technology Helps Financial Firms Support Vulnerable Customers" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Interactions monitoring, why is Conversation Intelligence useful?", "text": "Conversation Intelligence offers analytics and automation to break down customer interaction information at scale, using human review and machine learning. In this context, it allows firms to monitor and manage vulnerability by analysing interaction content against the firm\u2019s processes and good practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Process adherence monitoring", "text": "Process adherence monitoring helps firms understand whether a vulnerable customer has been treated appropriately and fairly. Capture records, stores and analyses customer-agent interactions at scale so they can be reviewed consistently." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Key topics identification", "text": "Classify uses machine learning to identify topics in customer interactions that may relate to vulnerability. The monitored topics can be customised to a firm\u2019s processes and good practice. Examples of conversation monitoring labels include bereavement, financial, age, health, employment, relationship and communication." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "headline": "Conversation analysis", "text": "Assure can then analyse monitored topics for process adherence. Risk points might include whether the adviser or agent asked how the customer was feeling about a recent bereavement, suggested forwarding the customer to a bereavement team, suggested the customer consider having a third party present, or established that the customer could understand them with that third party.\n\nConversation Intelligence is built for the financial services sector to support firms in monitoring, managing and analysing 100% of interactions with vulnerable customers, and scaling their operations. Firms can use this approach to discuss vulnerable-customer interaction monitoring and management." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-driven-speech-analytics-help-financial-services-and-manage-vulnerability/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does the FCA expect for vulnerable customers?", "acceptedAnswer": { "@type": "Answer", "text": "Vulnerable consumers should be treated fairly and achieve outcomes as good as other consumers." } }, { "@type": "Question", "name": "What makes vulnerability difficult to identify?", "acceptedAnswer": { "@type": "Answer", "text": "It depends on words, tone and subjective circumstances, such as bereavement, financial reliance and other life events." } }, { "@type": "Question", "name": "How can speech analytics support firms?", "acceptedAnswer": { "@type": "Answer", "text": "It can monitor interactions at scale, identify topics linked to vulnerability and help review process adherence and outcomes." } } ] } ] } ``` ### Recordsure is shortlisted for the RegTech of the Year Award by UK FinTech Awards 2021 - URL: https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/ - Published: 2021-06-07 - Modified: 2026-10-09 **Topic:** FinTech award Recordsure was shortlisted for RegTech of the Year at the UK FinTech Awards 2021. Its voice, data and document tools support compliance, review efficiency and risk management for financial organisations. #### Key points - Recordsure was shortlisted for RegTech of the Year at the UK FinTech Awards 2021. - The awards cover the full spectrum of FinTech and are judged by independent experts. - Recordsure technology supports compliance, review processes, risk management and remediation projects. - Recordsure has enabled 100% conversation coverage and processed more than 10 million documents in the past year. The UK FinTech Awards celebrate the FinTech community and the UK’s FinTech companies. Recordsure was shortlisted as a finalist for the RegTech of the Year award. The UK is home to many of the world’s premier financial services centres and a flourishing financial technology market. The UK FinTech Awards commemorate the achievements and successes of UK FinTech businesses. The awards are designed to cover the full spectrum of FinTech, and all entries are judged by an independent panel of experts. #### RegTech for compliance and review work Recordsure’s RegTech solution was developed for financial organisations to help them ensure regulatory compliance, speed up review processes, manage risk, deliver remediation projects with greater efficiencies and drive better customer outcomes. Its machine learning technology provides a voice and data platform to review and analyse customer conversations and interactions on a scalable basis. Joe Norburn said: “I'm thrilled for Recordsure to be shortlisted for the RegTech of the Year Award. This is a wonderful celebration of our achievements and great recognition of the Recordsure's team exceptional work, focus and dedication.” #### 100% coverage, compliance and business efficiencies Through successful implementation of [its product](/), Recordsure has enabled financial services firms to be more efficient with their review process and achieve 100% coverage of customer conversations. This means firms using Recordsure technology can be confident that every instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a risk-based approach to supervision. Recordsure’s [Voice product](/technology/conversation-intelligence/) offers over 90% transcription accuracy on financial services domain conversations, delivering greater than 85% accuracy consistently across conversation classification and topic labelling machine learning models. Recordsure delivers high-quality, non-invasive recording solutions that complement rather than replace incumbent technologies. Recordsure enables firms to start recording conversations previously monitored through human-supervision approaches in the same way as telephony centres have been monitored for decades. Using its [Doc solution](/technology/document-intelligence/), Recordsure processed in excess of 10 million documents in the past year and, for one client, recorded and analysed more than 17,000 hours of regulated advice meetings. As clients normalise processes in a post-pandemic world, these numbers were forecast to grow. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Its voice, data and document tools support compliance, review efficiency and risk management for financial organisations.\n\nThe UK FinTech Awards celebrate the FinTech community and the UK\u2019s FinTech companies. Recordsure was shortlisted as a finalist for the RegTech of the Year award.\n\nThe UK is home to many of the world\u2019s premier financial services centres and a flourishing financial technology market. The UK FinTech Awards commemorate the achievements and successes of UK FinTech businesses.\n\nThe awards are designed to cover the full spectrum of FinTech, and all entries are judged by an independent panel of experts.\n\nRegTech for compliance and review work\n\nRecordsure\u2019s RegTech solution was developed for financial organisations to help them ensure regulatory compliance, speed up review processes, manage risk, deliver remediation projects with greater efficiencies and drive better customer outcomes.\n\nIts machine learning technology provides a voice and data platform to review and analyse customer conversations and interactions on a scalable basis.\n\nJoe Norburn said: \u201cI'm thrilled for Recordsure to be shortlisted for the RegTech of the Year Award. This is a wonderful celebration of our achievements and great recognition of the Recordsure's team exceptional work, focus and dedication.\u201d\n\n100% coverage, compliance and business efficiencies\n\nThrough successful implementation of its product, Recordsure has enabled financial services firms to be more efficient with their review process and achieve 100% coverage of customer conversations. This means firms using Recordsure technology can be confident that every instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a risk-based approach to supervision.\n\nRecordsure\u2019s Voice product offers over 90% transcription accuracy on financial services domain conversations, delivering greater than 85% accuracy consistently across conversation classification and topic labelling machine learning models. Recordsure delivers high-quality, non-invasive recording solutions that complement rather than replace incumbent technologies.\n\nRecordsure enables firms to start recording conversations previously monitored through human-supervision approaches in the same way as telephony centres have been monitored for decades.\n\nUsing its Doc solution, Recordsure processed in excess of 10 million documents in the past year and, for one client, recorded and analysed more than 17,000 hours of regulated advice meetings. As clients normalise processes in a post-pandemic world, these numbers were forecast to grow.", "wordCount": 379, "keywords": [ "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "FinTech award" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#webpage" }, "inLanguage": "en-GB", "text": "The UK FinTech Awards celebrate the FinTech community and the UK\u2019s FinTech companies. Recordsure was shortlisted as a finalist for the RegTech of the Year award.\n\nThe UK is home to many of the world\u2019s premier financial services centres and a flourishing financial technology market. The UK FinTech Awards commemorate the achievements and successes of UK FinTech businesses.\n\nThe awards are designed to cover the full spectrum of FinTech, and all entries are judged by an independent panel of experts." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#webpage" }, "inLanguage": "en-GB", "headline": "RegTech for compliance and review work", "text": "Recordsure\u2019s RegTech solution was developed for financial organisations to help them ensure regulatory compliance, speed up review processes, manage risk, deliver remediation projects with greater efficiencies and drive better customer outcomes.\n\nIts machine learning technology provides a voice and data platform to review and analyse customer conversations and interactions on a scalable basis.\n\nJoe Norburn said: \u201cI'm thrilled for Recordsure to be shortlisted for the RegTech of the Year Award. This is a wonderful celebration of our achievements and great recognition of the Recordsure's team exceptional work, focus and dedication.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#webpage" }, "inLanguage": "en-GB", "headline": "100% coverage, compliance and business efficiencies", "text": "Through successful implementation of its product, Recordsure has enabled financial services firms to be more efficient with their review process and achieve 100% coverage of customer conversations. This means firms using Recordsure technology can be confident that every instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a risk-based approach to supervision.\n\nRecordsure\u2019s Voice product offers over 90% transcription accuracy on financial services domain conversations, delivering greater than 85% accuracy consistently across conversation classification and topic labelling machine learning models. Recordsure delivers high-quality, non-invasive recording solutions that complement rather than replace incumbent technologies.\n\nRecordsure enables firms to start recording conversations previously monitored through human-supervision approaches in the same way as telephony centres have been monitored for decades.\n\nUsing its Doc solution, Recordsure processed in excess of 10 million documents in the past year and, for one client, recorded and analysed more than 17,000 hours of regulated advice meetings. As clients normalise processes in a post-pandemic world, these numbers were forecast to grow." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-shortlisted-for-regtech-of-the-year-award-by-uk-fintech-awards-2021/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which award shortlisted Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was shortlisted for the RegTech of the Year award at the UK FinTech Awards 2021." } }, { "@type": "Question", "name": "Who judges the UK FinTech Awards?", "acceptedAnswer": { "@type": "Answer", "text": "Entries are judged by an independent panel of experts." } }, { "@type": "Question", "name": "What accuracy figures are reported?", "acceptedAnswer": { "@type": "Answer", "text": "Over 90% transcription accuracy, and greater than 85% accuracy across conversation classification and topic labelling models." } }, { "@type": "Question", "name": "How much document and meeting evidence is mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure processed more than 10 million documents in the past year and analysed more than 17,000 hours of regulated advice meetings for one client." } } ] } ] } ``` ### How can Wealth Management firms use RegTech to their advantage? - URL: https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/ - Published: 2021-05-25 - Modified: 2026-10-09 **Topic:** Wealth RegTech Recordsure CEO Joe Norburn explains how RegTech can help wealth management firms monitor spoken and written client interactions, reduce administrative burden and strengthen compliance oversight. He also describes how pandemic-driven remote working increased demand for integrated recording and monitoring tools. #### Key points - Wealth management firms must balance client relationships with compliance obligations. - RegTech can reduce administrative burden and improve insight from client interactions. - Recordsure covers recorded conversations and case file documentation. - Remote working increased demand for VoIP integration. - The AI Training team annotates client data to train models. Client engagement and long-term relationship building are critical for Wealth Management, along with ensuring regulatory compliance at all times. Firms are faced with the challenge to ensure all client-agent interactions and the advice provided are sound and in line with regulatory requirements. To manage this challenge, firms are faced with administrative burden, high costs of oversight management and, most importantly, time away from clients. Client interaction monitoring and analytics offer unique solutions and help firms ensure regulatory compliance at all times. Implementing the right RegTech solution also means cost savings as less time is spent on administrative tasks and files reviews, improved risk management, more insights and better outcomes for clients. Here, [Joe Norburn](/meet-the-team/) – CEO at Recordsure, discusses the importance of client-agent interactions monitoring and shares best practice for [regulatory compliance for Wealth Management](/sectors/wealth-and-advice/) firms. #### How has pandemic impacted the trends in Wealth Management, and what are your predictions for the future considering the new social and economic environment? The technology acceleration in Wealth Management has been incredible over the last eighteen months, since the global pandemic. The attitudes and behaviours of clients have fundamentally changed, for the better. Whilst there will undoubtedly be a welcome return to face-to-face client meetings, firms are now expected to meet clients on their terms through channels they have a say in. With the economic implications of the pandemic yet to be fully understood, people will need financial advice more than ever. Those firms that deliver high-quality advice coupled with rich and engaging well-monitored technology will be incredibly successful over the coming years. Recordsure is proud to support the compliance assurance and interaction monitoring of our clients in this space. #### There is a number of analytics tools on the market, what sets Recordsure’s solutions apart? The breadth of our [product offering](/) is unique. We provide compliance monitoring solutions across [recorded conversations](/technology/conversation-intelligence/) and [case file documentation](/technology/document-intelligence/). This truly sets us apart because we can cover every interaction, spoken and written, between the firms and their clients. What’s more, we have focused on our clients in the [Wealth Management](/sectors/wealth-and-advice/) sector and trained our Transcription and Machine Learning models, specifically on language and data from that domain. We understand our clients’ problem statements and work hard to create solutions that work across the industry. #### How are Recordsure analytics tools specialised for Wealth Management? In order to reach the required quality of conversation transcription, we built our own speech recognition platform rather than utilise more readily available technologies. Because of this, Recordsure developed a supreme solution that is trained solely on financial services data, which means delivering consistently superior results on the most important and technical language in [Wealth Management conversations](/sectors/wealth-and-advice/). Aside from our unique technology, our other key differentiator is that we are a [RegTech firm built by compliance specialists](/tcc-group/), for compliance practitioners. We understand the challenges of monitoring customer interactions at scale and specifically develop our products to solve this problem for the Wealth Management industry. This has become even more important in recent times, as advisers have been forced to work remotely and traditional supervisory practices failed to keep up. We understand the industry, the working practices and the language used between adviser and client. We are uniquely placed to support advisory firms to move from a small percentage of randomly sampled cases to [100% coverage](/) and guiding their skilled human resource to where it is needed most. #### Has the demand for specific requirements changed as a result of the pandemic? With the new acceptance of remote-working across all financial services sectors, we are seeing a much greater demand for integration with VoIP services such as [Teams](/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/) and Zoom than ever before. The good news is that we have been well set up for this for some time, with our app able to record audio from almost any VoIP solution. #### How can Recordsure ensure operational excellence? It is people that get things done and this is central to our ethos at [Recordsure](/why-recordsure/). Everyone contributes. We have an excellent client delivery team who ensure our clients’ requirements are understood and that our product is configured to meet their needs. Our development team build and test our software to ensure that it is functionally rich and built with security of data in mind. Our Data science colleagues are constantly researching new techniques and tooling to ensure that the Machine Learning and Speech Recognition models we build are industry-leading. Our product, marketing and sales teams ensure we have a clear direction for the product and a clear articulation of its capabilities. One of the most unique teams at Recordsure is our AI Training team. They transcribe and annotate thousands and thousands of hours of client data to make sure that our Machine Learning models are trained with extremely high-quality data, which ensure that clients can have complete confidence in the output. Find out more about Recordsure’s tools for [Wealth Management and Private Banking](/sectors/wealth-and-advice/). > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How can Wealth Management firms use RegTech to their advantage?", "item": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/", "name": "How can Wealth Management firms use RegTech to their advantage?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-05-25T10:26:05+01:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How can Wealth Management firms use RegTech to their advantage?", "datePublished": "2021-05-25T10:26:05+01:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/d4a0158fb2ec4a4cb1eb02406de92472/thumbnail-640-9a4dfc04617515142d2cc0241ba067916d2493a86b41ab0eceafdf446a1b1acd.jpg", "description": "Joe Norburn explains how RegTech can help wealth management firms monitor interactions, reduce administration, improve compliance insight and support client relationships.", "inLanguage": "en-GB", "articleBody": "Recordsure CEO Joe Norburn explains how RegTech can help wealth management firms monitor spoken and written client interactions, reduce administrative burden and strengthen compliance oversight. He also describes how pandemic-driven remote working increased demand for integrated recording and monitoring tools.\n\nClient engagement and long-term relationship building are critical for Wealth Management, along with ensuring regulatory compliance at all times.\n\nFirms are faced with the challenge to ensure all client-agent interactions and the advice provided are sound and in line with regulatory requirements. To manage this challenge, firms are faced with administrative burden, high costs of oversight management and, most importantly, time away from clients.\n\nClient interaction monitoring and analytics offer unique solutions and help firms ensure regulatory compliance at all times. Implementing the right RegTech solution also means cost savings as less time is spent on administrative tasks and files reviews, improved risk management, more insights and better outcomes for clients.\n\nHere, Joe Norburn \u2013 CEO at Recordsure, discusses the importance of client-agent interactions monitoring and shares best practice for regulatory compliance for Wealth Management firms.\n\nHow has pandemic impacted the trends in Wealth Management, and what are your predictions for the future considering the new social and economic environment?\n\nThe technology acceleration in Wealth Management has been incredible over the last eighteen months, since the global pandemic. The attitudes and behaviours of clients have fundamentally changed, for the better. Whilst there will undoubtedly be a welcome return to face-to-face client meetings, firms are now expected to meet clients on their terms through channels they have a say in.\n\nWith the economic implications of the pandemic yet to be fully understood, people will need financial advice more than ever.\n\nThose firms that deliver high-quality advice coupled with rich and engaging well-monitored technology will be incredibly successful over the coming years. Recordsure is proud to support the compliance assurance and interaction monitoring of our clients in this space.\n\nThere is a number of analytics tools on the market, what sets Recordsure\u2019s solutions apart?\n\nThe breadth of our product offering is unique. We provide compliance monitoring solutions across recorded conversations and case file documentation. This truly sets us apart because we can cover every interaction, spoken and written, between the firms and their clients.\n\nWhat\u2019s more, we have focused on our clients in the Wealth Management sector and trained our Transcription and Machine Learning models, specifically on language and data from that domain. We understand our clients\u2019 problem statements and work hard to create solutions that work across the industry.\n\nHow are Recordsure analytics tools specialised for Wealth Management?\n\nIn order to reach the required quality of conversation transcription, we built our own speech recognition platform rather than utilise more readily available technologies. Because of this, Recordsure developed a supreme solution that is trained solely on financial services data, which means delivering consistently superior results on the most important and technical language in Wealth Management conversations.\n\nAside from our unique technology, our other key differentiator is that we are a RegTech firm built by compliance specialists, for compliance practitioners. We understand the challenges of monitoring customer interactions at scale and specifically develop our products to solve this problem for the Wealth Management industry. This has become even more important in recent times, as advisers have been forced to work remotely and traditional supervisory practices failed to keep up.\n\nWe understand the industry, the working practices and the language used between adviser and client. We are uniquely placed to support advisory firms to move from a small percentage of randomly sampled cases to 100% coverage and guiding their skilled human resource to where it is needed most.\n\nHas the demand for specific requirements changed as a result of the pandemic?\n\nWith the new acceptance of remote-working across all financial services sectors, we are seeing a much greater demand for integration with VoIP services such as Teams and Zoom than ever before. The good news is that we have been well set up for this for some time, with our app able to record audio from almost any VoIP solution.\n\nHow can Recordsure ensure operational excellence?\n\nIt is people that get things done and this is central to our ethos at Recordsure. Everyone contributes. We have an excellent client delivery team who ensure our clients\u2019 requirements are understood and that our product is configured to meet their needs. Our development team build and test our software to ensure that it is functionally rich and built with security of data in mind. Our Data science colleagues are constantly researching new techniques and tooling to ensure that the Machine Learning and Speech Recognition models we build are industry-leading. Our product, marketing and sales teams ensure we have a clear direction for the product and a clear articulation of its capabilities.\n\nOne of the most unique teams at Recordsure is our AI Training team. They transcribe and annotate thousands and thousands of hours of client data to make sure that our Machine Learning models are trained with extremely high-quality data, which ensure that clients can have complete confidence in the output.\n\nFind out more about Recordsure\u2019s tools for Wealth Management and Private Banking.", "wordCount": 856, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth RegTech" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-6" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "inLanguage": "en-GB", "text": "Client engagement and long-term relationship building are critical for Wealth Management, along with ensuring regulatory compliance at all times.\n\nFirms are faced with the challenge to ensure all client-agent interactions and the advice provided are sound and in line with regulatory requirements. To manage this challenge, firms are faced with administrative burden, high costs of oversight management and, most importantly, time away from clients.\n\nClient interaction monitoring and analytics offer unique solutions and help firms ensure regulatory compliance at all times. Implementing the right RegTech solution also means cost savings as less time is spent on administrative tasks and files reviews, improved risk management, more insights and better outcomes for clients.\n\nHere, Joe Norburn \u2013 CEO at Recordsure, discusses the importance of client-agent interactions monitoring and shares best practice for regulatory compliance for Wealth Management firms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "How has pandemic impacted the trends in Wealth Management, and what are your predictions for the future considering the new social and economic environment?", "text": "The technology acceleration in Wealth Management has been incredible over the last eighteen months, since the global pandemic. The attitudes and behaviours of clients have fundamentally changed, for the better. Whilst there will undoubtedly be a welcome return to face-to-face client meetings, firms are now expected to meet clients on their terms through channels they have a say in.\n\nWith the economic implications of the pandemic yet to be fully understood, people will need financial advice more than ever.\n\nThose firms that deliver high-quality advice coupled with rich and engaging well-monitored technology will be incredibly successful over the coming years. Recordsure is proud to support the compliance assurance and interaction monitoring of our clients in this space." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "There is a number of analytics tools on the market, what sets Recordsure\u2019s solutions apart?", "text": "The breadth of our product offering is unique. We provide compliance monitoring solutions across recorded conversations and case file documentation. 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Because of this, Recordsure developed a supreme solution that is trained solely on financial services data, which means delivering consistently superior results on the most important and technical language in Wealth Management conversations.\n\nAside from our unique technology, our other key differentiator is that we are a RegTech firm built by compliance specialists, for compliance practitioners. We understand the challenges of monitoring customer interactions at scale and specifically develop our products to solve this problem for the Wealth Management industry. This has become even more important in recent times, as advisers have been forced to work remotely and traditional supervisory practices failed to keep up.\n\nWe understand the industry, the working practices and the language used between adviser and client. 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The good news is that we have been well set up for this for some time, with our app able to record audio from almost any VoIP solution." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "How can Recordsure ensure operational excellence?", "text": "It is people that get things done and this is central to our ethos at Recordsure. Everyone contributes. We have an excellent client delivery team who ensure our clients\u2019 requirements are understood and that our product is configured to meet their needs. Our development team build and test our software to ensure that it is functionally rich and built with security of data in mind. Our Data science colleagues are constantly researching new techniques and tooling to ensure that the Machine Learning and Speech Recognition models we build are industry-leading. Our product, marketing and sales teams ensure we have a clear direction for the product and a clear articulation of its capabilities.\n\nOne of the most unique teams at Recordsure is our AI Training team. They transcribe and annotate thousands and thousands of hours of client data to make sure that our Machine Learning models are trained with extremely high-quality data, which ensure that clients can have complete confidence in the output.\n\nFind out more about Recordsure\u2019s tools for Wealth Management and Private Banking." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-can-wealth-management-firms-use-regtech-to-their-advantage/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What challenge do wealth management firms face?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need to maintain client relationships while ensuring that interactions and advice meet regulatory requirements, without excessive administration and oversight costs." } }, { "@type": "Question", "name": "What types of interaction does Recordsure cover?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure monitors recorded conversations and case file documentation, covering spoken and written interactions between firms and clients." } }, { "@type": "Question", "name": "How did the pandemic change demand?", "acceptedAnswer": { "@type": "Answer", "text": "Remote working increased demand for integration with VoIP services such as Teams and Zoom." } }, { "@type": "Question", "name": "Why did Recordsure build its own speech recognition platform?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure built its own speech recognition platform to reach the required quality of conversation transcription for financial services and wealth management language." } } ] } ] } ``` ### Recordsure crowned AI winner at WealthBriefing European Awards 2021 - URL: https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/ - Published: 2021-05-20 - Modified: 2026-10-09 **Topic:** WealthBriefing award Recordsure won the ‘Innovative Use of Artificial Intelligence’ category at the Ninth Annual WealthBriefing European Awards 2021. The judging context and comments from Recordsure and ClearView Financial Media explain why the award matters. #### Key points - Recordsure won the Innovative Use of Artificial Intelligence category at the Ninth Annual WealthBriefing European Awards 2021. - The awards recognise European wealth management organisations by specialism and geography. - The category involved finalists and commended submissions before the judges selected the winner. - The judging process focused on entrants’ submissions and responses about client experience. [Recordsure was named winner of the ‘Innovative Use of Artificial Intelligence’ category at The Ninth Annual WealthBriefing European Awards 2021](https://www.wealthbriefing.com/html/article.php?id=191278#.YKYdppNKi_9). The awards showcase organisations in European wealth management, grouped by specialism and geography, that an independent judging panel deemed to have demonstrated innovation and excellence during the last year. #### Award category and judging The category is highly contested, with a small group of finalists and commended submissions chosen from a large pool of entrants before an ultimate winner is selected by the judges. This process makes *[WealthBriefing](https://www.wealthbriefing.com/html/article.php?id=191278#.YKYdppNKi_9)* [awards](https://www.wealthbriefing.com/html/article.php?id=191278#.YKYdppNKi_9) prized among [winners](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/?tab=winners), [finalists](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/?tab=winners) and [commended](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/?tab=winners) firms. Joanne Smith, Founder and Executive Chair at Recordsure, said being named the best provider in the category was a privilege for Recordsure and a celebration of the team’s work, focus and dedication to client delivery and product development. Winning awards is particularly important in challenging times because it gives clients reassurance in the solidity and sustainability of the winner’s business and operating model. #### ClearView and Recordsure comments Stephen Harris, CEO at ClearView Financial Media and Publisher of *[WealthBriefing](https://www.wealthbriefing.com/)*, said the awards recognise the very best operators in European wealth management, with independence, integrity and genuine insight described as watchwords of the judging process. He extended congratulations to all the winners and to those who had put work into each winning submission. He said the awards were independently and expertly judged on entrants’ submissions and responses to specific questions, with answers focused on client experience rather than purely quantitative performance metrics. Joe Norburn, CEO at Recordsure, said winning the Innovative Use of AI award showed the strength of Recordsure’s product and reinforced the view that RegTech solutions can help improve the experience of colleagues and clients across the wealth management industry. He thanked the Recordsure team for work to deliver products and services to clients. #### Supporting sources - [WealthBriefing European Awards 2021 article](https://www.wealthbriefing.com/html/article.php?id=191278#.YKYdppNKi_9) - [Ninth Annual WealthBriefing European Awards 2021 winners](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/?tab=winners) - [WealthBriefing](https://www.wealthbriefing.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure crowned AI winner at WealthBriefing European Awards 2021", "item": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage", "url": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/", "name": "Recordsure crowned AI winner at WealthBriefing European Awards 2021", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-05-20T08:00:00+01:00", "dateModified": "2023-06-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-06-23" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure crowned AI winner at WealthBriefing European Awards 2021", "datePublished": "2021-05-20T08:00:00+01:00", "dateModified": "2026-10-09T04:50:31+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/19affa387edc4ded8df9538a976bda55/thumbnail-1024-b1f1cf45076f3f976e92420fc762e01f7053a701c69fc6aaa59de1a337a45842.jpg", "description": "Recordsure won the Innovative Use of Artificial Intelligence category at the Ninth Annual WealthBriefing European Awards 2021, recognising its work in wealth management.", "inLanguage": "en-GB", "articleBody": "Recordsure won the \u2018Innovative Use of Artificial Intelligence\u2019 category at the Ninth Annual WealthBriefing European Awards 2021. The judging context and comments from Recordsure and ClearView Financial Media explain why the award matters.\n\nRecordsure was named winner of the \u2018Innovative Use of Artificial Intelligence\u2019 category at The Ninth Annual WealthBriefing European Awards 2021.\n\nThe awards showcase organisations in European wealth management, grouped by specialism and geography, that an independent judging panel deemed to have demonstrated innovation and excellence during the last year.\n\nAward category and judging\n\nThe category is highly contested, with a small group of finalists and commended submissions chosen from a large pool of entrants before an ultimate winner is selected by the judges. This process makes WealthBriefing awards prized among winners, finalists and commended firms.\n\nJoanne Smith, Founder and Executive Chair at Recordsure, said being named the best provider in the category was a privilege for Recordsure and a celebration of the team\u2019s work, focus and dedication to client delivery and product development.\n\nWinning awards is particularly important in challenging times because it gives clients reassurance in the solidity and sustainability of the winner\u2019s business and operating model.\n\nClearView and Recordsure comments\n\nStephen Harris, CEO at ClearView Financial Media and Publisher of WealthBriefing, said the awards recognise the very best operators in European wealth management, with independence, integrity and genuine insight described as watchwords of the judging process.\n\nHe extended congratulations to all the winners and to those who had put work into each winning submission. He said the awards were independently and expertly judged on entrants\u2019 submissions and responses to specific questions, with answers focused on client experience rather than purely quantitative performance metrics.\n\nJoe Norburn, CEO at Recordsure, said winning the Innovative Use of AI award showed the strength of Recordsure\u2019s product and reinforced the view that RegTech solutions can help improve the experience of colleagues and clients across the wealth management industry. He thanked the Recordsure team for work to deliver products and services to clients.", "wordCount": 332, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "WealthBriefing award" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "WealthBriefing European Awards 2021 article", "url": "https://www.wealthbriefing.com/html/article.php?id=191278#.YKYdppNKi_9" }, { "@type": "CreativeWork", "name": "Ninth Annual WealthBriefing European Awards 2021 winners", "url": "https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/?tab=winners" }, { "@type": "CreativeWork", "name": "WealthBriefing", "url": "https://www.wealthbriefing.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was named winner of the \u2018Innovative Use of Artificial Intelligence\u2019 category at The Ninth Annual WealthBriefing European Awards 2021.\n\nThe awards showcase organisations in European wealth management, grouped by specialism and geography, that an independent judging panel deemed to have demonstrated innovation and excellence during the last year." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "inLanguage": "en-GB", "headline": "Award category and judging", "text": "The category is highly contested, with a small group of finalists and commended submissions chosen from a large pool of entrants before an ultimate winner is selected by the judges. This process makes WealthBriefing awards prized among winners, finalists and commended firms.\n\nJoanne Smith, Founder and Executive Chair at Recordsure, said being named the best provider in the category was a privilege for Recordsure and a celebration of the team\u2019s work, focus and dedication to client delivery and product development.\n\nWinning awards is particularly important in challenging times because it gives clients reassurance in the solidity and sustainability of the winner\u2019s business and operating model." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "inLanguage": "en-GB", "headline": "ClearView and Recordsure comments", "text": "Stephen Harris, CEO at ClearView Financial Media and Publisher of WealthBriefing, said the awards recognise the very best operators in European wealth management, with independence, integrity and genuine insight described as watchwords of the judging process.\n\nHe extended congratulations to all the winners and to those who had put work into each winning submission. He said the awards were independently and expertly judged on entrants\u2019 submissions and responses to specific questions, with answers focused on client experience rather than purely quantitative performance metrics.\n\nJoe Norburn, CEO at Recordsure, said winning the Innovative Use of AI award showed the strength of Recordsure\u2019s product and reinforced the view that RegTech solutions can help improve the experience of colleagues and clients across the wealth management industry. He thanked the Recordsure team for work to deliver products and services to clients." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-winner-wealthbriefing-awards-2021/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What award did Recordsure win?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure won the Innovative Use of Artificial Intelligence category at The Ninth Annual WealthBriefing European Awards 2021." } }, { "@type": "Question", "name": "What do the WealthBriefing awards recognise?", "acceptedAnswer": { "@type": "Answer", "text": "They recognise European wealth management organisations grouped by specialism and geography." } }, { "@type": "Question", "name": "How was the award judged?", "acceptedAnswer": { "@type": "Answer", "text": "The awards were independently judged on entrants\u2019 submissions and responses to specific questions, focusing on client experience rather than purely quantitative performance metrics." } }, { "@type": "Question", "name": "Why do awards matter in challenging times?", "acceptedAnswer": { "@type": "Answer", "text": "It says winning awards can give clients reassurance in the solidity and sustainability of the winner\u2019s business and operating model." } } ] } ] } ``` ### Speech Technology Helps Financial Firms Support Vulnerable Customers - URL: https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/ - Published: 2021-04-29 - Modified: 2026-10-09 **Topic:** Vulnerable customers Vulnerability increased during the pandemic, leaving financial firms needing scalable oversight of customer interactions. Speech recognition and machine learning can identify potential signs of unfair treatment and support compliant, compassionate service. #### Key points - The pandemic and unemployment increased pressure to support vulnerable customers. - The FCA definition means vulnerability cannot be assumed only from demographics. - Covid-19 affected income, isolation, wellbeing and access to support. - Financial firms faced pressure from rising debt cases and changing channels. - Speech recognition can help monitor customer treatment at scale. The pressure on financial firms to treat vulnerable customers with compassion is all-time-high The global pandemic, national lockdowns and growing unemployment have been driving a significant spike in consumer vulnerability. The pressure on financial firms to treat their vulnerable customers with compassion and sensitivity during all interactions has never been higher. [Recordsure](/technology/conversation-intelligence/) utilises highly sophisticated [speech recognition analytics](/technology/conversation-intelligence/) to help firms support their vulnerable customers and rapidly scale up their operations. The role of speech recognition, underpinned with Machine Learning-driven insight, has become vital for firms that want to proactively support their customers while ensuring regulatory compliance and supervisory oversight at scale. #### What is vulnerability? > Someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care. Financial Conduct Authority Some groups, such as people over 65 or under 24, unemployed people and those with no formal qualifications, are more likely to display potential vulnerability characteristics than the general population. However, the regulator’s definition suggests that identifying potentially vulnerable customers can no longer be simply assumed or based on demographics. UK adults of all ages and backgrounds can have characteristics of potential vulnerability, and more people than ever before can be classified as vulnerable. [FCA](https://www.fca.org.uk/) has previously stated that up to 50% of us could be potentially vulnerable at some stage in our lives. #### Vulnerability exacerbated by Covid-19 Covid-19 has radically changed many people’s daily lives in the UK and around the world. Home-schooling children whilst working at the dining room table became normal for many. Whilst those working in the retail and entertainment sectors have been relying on government-backed schemes to keep businesses and livelihoods afloat. The long-term impact on society, work and home environments, as well as people’s mental, emotional and physical wellbeing, is likely to be severe. Financial indicators of vulnerability, such as the loss of income leading to credit, rent, and mortgage default, can often be signs of wider or future vulnerability for a customer. Isolation and depression, increased stress and pressure that demonstrate themselves in destructive behaviour and addiction, reduced access to social and leisure facilities, are all factors leading to poorer mental and physical health that will be felt for years to come. A drastic change to someone’s income is only likely to exacerbate these issues. For financial services firms, the responsibility to treat customers fairly has therefore never been more pronounced. While faced with a situation out of everyone’s control, the way firms respond will have lasting significance. #### Financial services firms are facing new challenges People’s financial circumstances are strongly connected to their mental, emotional and physical wellbeing and the next few years will be about far more than credit cards, loans and mortgages. Financial firms have been forced to respond quickly to the latest developments and associated operational problems, such as: - Significant increases in debt management cases and being forced to scale up operations quickly - Loss of revenue and increased operating costs as lending defaults increase - Rapidly changing product sets responding to government lending schemes - Evolving customer expectations leading to expanding customer contact channel approach, and a rapid introduction of video call platforms such as Zoom and MS Teams - Increasing pressure on employees to support customers, while the employees themselves are faced with changes within their roles, and dealing with their own personal circumstances - Increased social pressure to support customers through difficult times Financial services firms are heavily regulated, meaning that they must continue to operate and prove effective and compliant processes and maintain strong capital adequacy to protect against 2008-like financial crisis. As government support for livelihoods inevitably falls away, and incomes become squeezed, handling vulnerable customer with compassion and sensitivity could prove to be difficult, even for the largest and most established financial services firms. #### How can speech technology help financial firms support vulnerable customers? Deployment of Artificial Intelligence technologies offers readily available solutions to firms to monitor, review and supervise interactions with vulnerable customers at scale, ensuring compliance and fair treatment at all times. Advances in Natural Language Processing and Machine Learning now make it possible to accurately spot potential signs of unfair treatment of vulnerable customers within advisor-customer conversations. Firms like Recordsure can provide highly accurate [recording and transcription solutions](/technology/conversation-intelligence/) that other Machine Learning and data science firms can also utilise to derive insight. Recordsure provides [Machine Learning models](/technology/conversation-intelligence/) that focus on compliance assurance and risk management, and provide operational efficiencies and customer insights along the way. Regardless of how firms decide to solve the challenge of supporting vulnerable customers and managing their supervisory oversight, doing so at scale will almost certainly require the help of [Machine Learning tools and systems](/). #### Supporting sources - [FCA](https://www.fca.org.uk/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Speech Technology Helps Financial Firms Support Vulnerable Customers", "item": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/", "name": "Speech Technology Helps Financial Firms Support Vulnerable Customers", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-04-29T19:19:11+01:00", "dateModified": "2021-11-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-11-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Speech Technology Helps Financial Firms Support Vulnerable Customers", "datePublished": "2021-04-29T19:19:11+01:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b35545a38c144b1a9637a0f9e82d51de/thumbnail-1024-419c6db3f00f604eec48496db981b0db6fbea21cc892f4561b677e03a9149add.jpg", "description": "Speech recognition and machine learning can help firms identify vulnerability indicators, monitor customer conversations and maintain oversight while demand for support increases.", "inLanguage": "en-GB", "articleBody": "Vulnerability increased during the pandemic, leaving financial firms needing scalable oversight of customer interactions. Speech recognition and machine learning can identify potential signs of unfair treatment and support compliant, compassionate service.\n\nThe pressure on financial firms to treat vulnerable customers with compassion is all-time-high\n\nThe global pandemic, national lockdowns and growing unemployment have been driving a significant spike in consumer vulnerability. The pressure on financial firms to treat their vulnerable customers with compassion and sensitivity during all interactions has never been higher. Recordsure utilises highly sophisticated speech recognition analytics to help firms support their vulnerable customers and rapidly scale up their operations.\n\nThe role of speech recognition, underpinned with Machine Learning-driven insight, has become vital for firms that want to proactively support their customers while ensuring regulatory compliance and supervisory oversight at scale.\n\nWhat is vulnerability?\n\nSomeone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care. Financial Conduct Authority\n\nSome groups, such as people over 65 or under 24, unemployed people and those with no formal qualifications, are more likely to display potential vulnerability characteristics than the general population. However, the regulator\u2019s definition suggests that identifying potentially vulnerable customers can no longer be simply assumed or based on demographics. UK adults of all ages and backgrounds can have characteristics of potential vulnerability, and more people than ever before can be classified as vulnerable. FCA has previously stated that up to 50% of us could be potentially vulnerable at some stage in our lives.\n\nVulnerability exacerbated by Covid-19\n\nCovid-19 has radically changed many people\u2019s daily lives in the UK and around the world. Home-schooling children whilst working at the dining room table became normal for many. Whilst those working in the retail and entertainment sectors have been relying on government-backed schemes to keep businesses and livelihoods afloat.\n\nThe long-term impact on society, work and home environments, as well as people\u2019s mental, emotional and physical wellbeing, is likely to be severe.\n\nFinancial indicators of vulnerability, such as the loss of income leading to credit, rent, and mortgage default, can often be signs of wider or future vulnerability for a customer.\n\nIsolation and depression, increased stress and pressure that demonstrate themselves in destructive behaviour and addiction, reduced access to social and leisure facilities, are all factors leading to poorer mental and physical health that will be felt for years to come. A drastic change to someone\u2019s income is only likely to exacerbate these issues.\n\nFor financial services firms, the responsibility to treat customers fairly has therefore never been more pronounced. While faced with a situation out of everyone\u2019s control, the way firms respond will have lasting significance.\n\nFinancial services firms are facing new challenges\n\nPeople\u2019s financial circumstances are strongly connected to their mental, emotional and physical wellbeing and the next few years will be about far more than credit cards, loans and mortgages. Financial firms have been forced to respond quickly to the latest developments and associated operational problems, such as:\n\n\u2022 Significant increases in debt management cases and being forced to scale up operations quickly\n\u2022 Loss of revenue and increased operating costs as lending defaults increase\n\u2022 Rapidly changing product sets responding to government lending schemes\n\u2022 Evolving customer expectations leading to expanding customer contact channel approach, and a rapid introduction of video call platforms such as Zoom and MS Teams\n\u2022 Increasing pressure on employees to support customers, while the employees themselves are faced with changes within their roles, and dealing with their own personal circumstances\n\u2022 Increased social pressure to support customers through difficult times\n\nFinancial services firms are heavily regulated, meaning that they must continue to operate and prove effective and compliant processes and maintain strong capital adequacy to protect against 2008-like financial crisis. As government support for livelihoods inevitably falls away, and incomes become squeezed, handling vulnerable customer with compassion and sensitivity could prove to be difficult, even for the largest and most established financial services firms.\n\nHow can speech technology help financial firms support vulnerable customers?\n\nDeployment of Artificial Intelligence technologies offers readily available solutions to firms to monitor, review and supervise interactions with vulnerable customers at scale, ensuring compliance and fair treatment at all times.\n\nAdvances in Natural Language Processing and Machine Learning now make it possible to accurately spot potential signs of unfair treatment of vulnerable customers within advisor-customer conversations.\n\nFirms like Recordsure can provide highly accurate recording and transcription solutions that other Machine Learning and data science firms can also utilise to derive insight. Recordsure provides Machine Learning models that focus on compliance assurance and risk management, and provide operational efficiencies and customer insights along the way.\n\nRegardless of how firms decide to solve the challenge of supporting vulnerable customers and managing their supervisory oversight, doing so at scale will almost certainly require the help of Machine Learning tools and systems.", "wordCount": 812, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Vulnerable customers" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA", "url": "https://www.fca.org.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "text": "The pressure on financial firms to treat vulnerable customers with compassion is all-time-high\n\nThe global pandemic, national lockdowns and growing unemployment have been driving a significant spike in consumer vulnerability. The pressure on financial firms to treat their vulnerable customers with compassion and sensitivity during all interactions has never been higher. Recordsure utilises highly sophisticated speech recognition analytics to help firms support their vulnerable customers and rapidly scale up their operations.\n\nThe role of speech recognition, underpinned with Machine Learning-driven insight, has become vital for firms that want to proactively support their customers while ensuring regulatory compliance and supervisory oversight at scale." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "What is vulnerability?", "text": "Someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care. Financial Conduct Authority\n\nSome groups, such as people over 65 or under 24, unemployed people and those with no formal qualifications, are more likely to display potential vulnerability characteristics than the general population. However, the regulator\u2019s definition suggests that identifying potentially vulnerable customers can no longer be simply assumed or based on demographics. UK adults of all ages and backgrounds can have characteristics of potential vulnerability, and more people than ever before can be classified as vulnerable. FCA has previously stated that up to 50% of us could be potentially vulnerable at some stage in our lives." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Vulnerability exacerbated by Covid-19", "text": "Covid-19 has radically changed many people\u2019s daily lives in the UK and around the world. Home-schooling children whilst working at the dining room table became normal for many. Whilst those working in the retail and entertainment sectors have been relying on government-backed schemes to keep businesses and livelihoods afloat.\n\nThe long-term impact on society, work and home environments, as well as people\u2019s mental, emotional and physical wellbeing, is likely to be severe.\n\nFinancial indicators of vulnerability, such as the loss of income leading to credit, rent, and mortgage default, can often be signs of wider or future vulnerability for a customer.\n\nIsolation and depression, increased stress and pressure that demonstrate themselves in destructive behaviour and addiction, reduced access to social and leisure facilities, are all factors leading to poorer mental and physical health that will be felt for years to come. A drastic change to someone\u2019s income is only likely to exacerbate these issues.\n\nFor financial services firms, the responsibility to treat customers fairly has therefore never been more pronounced. While faced with a situation out of everyone\u2019s control, the way firms respond will have lasting significance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Financial services firms are facing new challenges", "text": "People\u2019s financial circumstances are strongly connected to their mental, emotional and physical wellbeing and the next few years will be about far more than credit cards, loans and mortgages. Financial firms have been forced to respond quickly to the latest developments and associated operational problems, such as:\n\n\u2022 Significant increases in debt management cases and being forced to scale up operations quickly\n\u2022 Loss of revenue and increased operating costs as lending defaults increase\n\u2022 Rapidly changing product sets responding to government lending schemes\n\u2022 Evolving customer expectations leading to expanding customer contact channel approach, and a rapid introduction of video call platforms such as Zoom and MS Teams\n\u2022 Increasing pressure on employees to support customers, while the employees themselves are faced with changes within their roles, and dealing with their own personal circumstances\n\u2022 Increased social pressure to support customers through difficult times\n\nFinancial services firms are heavily regulated, meaning that they must continue to operate and prove effective and compliant processes and maintain strong capital adequacy to protect against 2008-like financial crisis. As government support for livelihoods inevitably falls away, and incomes become squeezed, handling vulnerable customer with compassion and sensitivity could prove to be difficult, even for the largest and most established financial services firms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "How can speech technology help financial firms support vulnerable customers?", "text": "Deployment of Artificial Intelligence technologies offers readily available solutions to firms to monitor, review and supervise interactions with vulnerable customers at scale, ensuring compliance and fair treatment at all times.\n\nAdvances in Natural Language Processing and Machine Learning now make it possible to accurately spot potential signs of unfair treatment of vulnerable customers within advisor-customer conversations.\n\nFirms like Recordsure can provide highly accurate recording and transcription solutions that other Machine Learning and data science firms can also utilise to derive insight. Recordsure provides Machine Learning models that focus on compliance assurance and risk management, and provide operational efficiencies and customer insights along the way.\n\nRegardless of how firms decide to solve the challenge of supporting vulnerable customers and managing their supervisory oversight, doing so at scale will almost certainly require the help of Machine Learning tools and systems." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-speech-technology-helps-financial-firms-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why did vulnerability become a greater concern?", "acceptedAnswer": { "@type": "Answer", "text": "Vulnerability increased through the pandemic, lockdowns, unemployment, income shocks, isolation and pressure on mental and physical wellbeing." } }, { "@type": "Question", "name": "How is vulnerability defined?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA defines a vulnerable customer as someone susceptible to detriment because of personal circumstances, particularly when a firm does not act with appropriate care." } }, { "@type": "Question", "name": "Why are demographics not enough?", "acceptedAnswer": { "@type": "Answer", "text": "Adults of all ages and backgrounds can have characteristics of potential vulnerability, so firms cannot rely only on assumptions." } }, { "@type": "Question", "name": "What operational challenges do firms face?", "acceptedAnswer": { "@type": "Answer", "text": "They include rising debt management cases, lending defaults, changing products, expanded contact channels and greater pressure on employees." } }, { "@type": "Question", "name": "How can speech technology help?", "acceptedAnswer": { "@type": "Answer", "text": "It can monitor and analyse adviser-customer conversations at scale, helping firms spot potential signs of unfair treatment and maintain oversight." } } ] } ] } ``` ### Recordsure, WealthBriefing European Awards 2021 Finalist - URL: https://recordsure.com/insights/news/recordsure-wealthbriefing-european-awards-2021-finalist/ - Published: 2021-04-14 - Modified: 2026-10-09 **Topic:** WealthTech awards Recordsure was named a finalist in the Innovative Use of Artificial Intelligence category at the WealthBriefing European Awards 2021 for speech and document analytics that support wealth management oversight. #### Key points - Recordsure was named a finalist at the WealthBriefing European Awards 2021. - Its tools support 100% coverage of customer conversations in wealth management. - Speech and document analytics help firms monitor advice and review case documentation. - Models are trained for financial services language and in-domain datasets. - Recordsure supports remote conversations across platforms such as Zoom, Teams and Skype. The finalists of [WealthBriefing European Awards 2021](https://www.wealthbriefing.com/html/article.php?id=190821#.YHavjBRKhpS) have been published and Recordsure is named as one of the finalists in the [Innovative Use of Artificial Intelligence](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/) category. #### Innovative Use of Artificial Intelligence The finalists of [WealthBriefing European Awards 2021](https://www.wealthbriefing.com/html/article.php?id=190821#.YHavjBRKhpS) have been published and Recordsure is named as one of the finalists in the [Innovative Use of Artificial Intelligence](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/) category. This is why. #### Recordsure built unique proprietary WealthTech tools for Wealth Management Recordsure technology-driven [speech](/technology/conversation-intelligence/) and [document analytics](/technology/document-intelligence/) tools enable [Wealth Management firms](/sectors/wealth-and-advice/) to be more efficient with their review process but also to achieve 100% coverage of their customer conversations. This means that firms using Recordsure technology can be confident that every single instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a true risk-based approach to supervision. We deliver high-quality, non-invasive [recording solutions](/technology/conversation-intelligence/) that complement rather than replace incumbent technologies. We enable firms to start recording those conversations that have previously been monitored through human-supervision approaches in the same way as their telephony centres have been monitored for decades. Wealth Management and Private Banking firms using Recordsure technology have more coverage, faster processes at scale and at a cost that is lower than the human-equivalent approach. Lower risk, greater insight. Recordsure When undertaking a file review, firms no longer need to pay highly skilled and expensive human reviewers to sort through, classify and organise documentation before even starting the review process. They can get straight on with the review where half the work is done for them via [intelligent Machine Learning](/technology/document-intelligence/) solutions that classify and summarise the contents of the documents. Reviewers can jump straight to the evidence they need, not even needing to review the rest of the document which, in complex advice cases, can be long and arduous to go through. #### AI-based tools specifically developed for financial services Using [proprietary tools](/) that have been carefully developed to focus on the nuance of language found in Financial Services, we have carefully tuned and trained our models and tooling to deliver market-leading results in Speech Recognition and Machine Learning accuracy. We regularly benchmark ourselves against larger industry players such as Amazon, Google and Microsoft and deliver superior performance on in-domain datasets. #### Recordsure is leading the way with AI innovations We have led the way, breaking new ground with the businesses that we work with, challenging the accepted status quo of taking a random sampling approach to monitoring compliance risk. We believe that customers are best served by transparent and conduct-focused organisations. Our [software](/) aims to help our clients ensure that every conversation and instance of advice is of the same high standard that they would expect, and enables advisers to self-critique their performance and improve future customer interactions. As the world has evolved rapidly in the last 12 months, so have we. Recordsure has long had the ability to [record VoIP conversations](/technology/conversation-intelligence/) through platforms such as Zoom, Teams and Skype and with a greater emphasis on these products both during and likely post-Covid restrictions, we stand ready to support a broad spectrum of firms requiring more reliable, scalable and strong monitoring solutions. #### Supporting sources - [WealthBriefing European Awards 2021](https://www.wealthbriefing.com/html/article.php?id=190821#.YHavjBRKhpS) - [Innovative Use of Artificial Intelligence](https://clearviewpublishing.com/events/the-ninth-annual-wealthbriefing-european-awards-2021/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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WealthBriefing European Awards 2021 for speech and document analytics that support wealth management oversight.\n\nThe finalists of WealthBriefing European Awards 2021 have been published and Recordsure is named as one of the finalists in the Innovative Use of Artificial Intelligence category.\n\nInnovative Use of Artificial Intelligence\n\nThe finalists of WealthBriefing European Awards 2021 have been published and Recordsure is named as one of the finalists in the Innovative Use of Artificial Intelligence category.\n\nThis is why.\n\nRecordsure built unique proprietary WealthTech tools for Wealth Management\n\nRecordsure technology-driven speech and document analytics tools enable Wealth Management firms to be more efficient with their review process but also to achieve 100% coverage of their customer conversations.\n\nThis means that firms using Recordsure technology can be confident that every single instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a true risk-based approach to supervision.\n\nWe deliver high-quality, non-invasive recording solutions that complement rather than replace incumbent technologies. We enable firms to start recording those conversations that have previously been monitored through human-supervision approaches in the same way as their telephony centres have been monitored for decades.\n\nWealth Management and Private Banking firms using Recordsure technology have more coverage, faster processes at scale and at a cost that is lower than the human-equivalent approach. Lower risk, greater insight. Recordsure\n\nWhen undertaking a file review, firms no longer need to pay highly skilled and expensive human reviewers to sort through, classify and organise documentation before even starting the review process. They can get straight on with the review where half the work is done for them via intelligent Machine Learning solutions that classify and summarise the contents of the documents. 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We believe that customers are best served by transparent and conduct-focused organisations. Our software aims to help our clients ensure that every conversation and instance of advice is of the same high standard that they would expect, and enables advisers to self-critique their performance and improve future customer interactions.\n\nAs the world has evolved rapidly in the last 12 months, so have we. 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We enable firms to start recording those conversations that have previously been monitored through human-supervision approaches in the same way as their telephony centres have been monitored for decades.\n\nWealth Management and Private Banking firms using Recordsure technology have more coverage, faster processes at scale and at a cost that is lower than the human-equivalent approach. Lower risk, greater insight. Recordsure\n\nWhen undertaking a file review, firms no longer need to pay highly skilled and expensive human reviewers to sort through, classify and organise documentation before even starting the review process. They can get straight on with the review where half the work is done for them via intelligent Machine Learning solutions that classify and summarise the contents of the documents. Reviewers can jump straight to the evidence they need, not even needing to review the rest of the document which, in complex advice cases, can be long and arduous to go through." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-wealthbriefing-european-awards-2021-finalist/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-wealthbriefing-european-awards-2021-finalist/#webpage" }, "inLanguage": "en-GB", "headline": "AI-based tools specifically developed for financial services", "text": "Using proprietary tools that have been carefully developed to focus on the nuance of language found in Financial Services, we have carefully tuned and trained our models and tooling to deliver market-leading results in Speech Recognition and Machine Learning accuracy. 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Our software aims to help our clients ensure that every conversation and instance of advice is of the same high standard that they would expect, and enables advisers to self-critique their performance and improve future customer interactions.\n\nAs the world has evolved rapidly in the last 12 months, so have we. 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Recordsure announced that [Joanne Smith](/meet-the-team/), Founder and Executive Chair at [Recordsure](/) and [TCC Group](https://tcc.group/), had been featured in the [Women in FinTech Powerlist 2020](https://www.innovatefinance.com/womeninfintech/powerlist2020/) in the Senior Leaders category. Her place on the Powerlist recognised her work in the FinTech sector and her achievements over the previous 12 months. The Senior Leaders category recognises leaders who drive change within FinTech beyond their day-to-day role, while also helping others through mentoring, support groups, sharing experience or voluntary work. [Innovate Finance](https://www.innovatefinance.com/) received over 1,000 nominations for the [Women in FinTech Powerlist 2020](https://www.innovatefinance.com/womeninfintech/powerlist2020/), highlighting the growth of female talent in the FinTech ecosystem. > I'm passionate about leading the industry change with FinTech. Being included in the Women in FinTech Powerlist 2020 is a vital recognition of my contribution to creating a fairer, more compliant industry and achieving better outcomes for financial services customers. Joanne Smith #### Driving forward change to transform financial services Aware of finance industry compliance issues and customer miss-selling that had been ignored for decades, Joanne decided to drive change. She founded [TCC](https://tcc.group/) to transform the compliance landscape. The technology-enabled services business is now in its 20th year and won the [‘Best RegTech Company 2021’](https://tcc.group/blog/2021/03/16/tcc-group-named-best-regtech-company-in-2021-fintech-breakthrough-awards-program/) award in the FinTech Breakthrough Awards programme. Joanne’s vision for AI technology to help solve finance industry compliance issues and protect customers led her to start [Recordsure](/). Recordsure’s [AI analytics technology](/) was built to close the regulatory gap, introduce transparency and accountability, and protect customers. Financial firms benefit from compliance, reduced risk and remediation costs, and intelligence that can improve customer experience. While financial firms gain tangible benefits, Joanne is most proud of her contribution to protecting customers and making a positive impact on society. Joanne supports female founders and is a serial investor in female-led technology businesses, addressing the 1% funding challenges of female entrepreneurs. #### Supporting sources - [Women in FinTech Powerlist 2020](https://www.innovatefinance.com/womeninfintech/powerlist2020/) - [Innovate Finance](https://www.innovatefinance.com/) - [Best RegTech Company 2021](https://tcc.group/blog/2021/03/16/tcc-group-named-best-regtech-company-in-2021-fintech-breakthrough-awards-program/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Women in FinTech Powerlist 2020 shines a spotlight on Recordsure\u2019s Founder and Executive Chair, Joanne Smith", "item": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage", "url": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/", "name": "Women in FinTech Powerlist 2020 shines a spotlight on Recordsure\u2019s Founder and Executive Chair, Joanne Smith", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-03-24T12:56:04+00:00", "dateModified": "2021-11-08T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-11-08" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Women in FinTech Powerlist 2020 shines a spotlight on Recordsure\u2019s Founder and Executive Chair, Joanne Smith", "datePublished": "2021-03-24T12:56:04+00:00", "dateModified": "2026-10-09T04:50:36+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/91849b01e3194891a00b045670e0c643/thumbnail-1024-49e27f9d4e1d8626fb4ac2609258d8fe58bd28bec69d936aaf453e831de002d9.png", "description": "Joanne Smith, Founder and Executive Chair at Recordsure and TCC Group, was featured in Innovate Finance\u2019s Women in FinTech Powerlist 2020.", "inLanguage": "en-GB", "articleBody": "Joanne Smith was named in the Senior Leaders category of the Women in FinTech Powerlist 2020, recognising her work across TCC Group, Recordsure and financial services compliance.\n\nRecordsure announced that Joanne Smith, Founder and Executive Chair at Recordsure and TCC Group, had been featured in the Women in FinTech Powerlist 2020 in the Senior Leaders category. Her place on the Powerlist recognised her work in the FinTech sector and her achievements over the previous 12 months.\n\nThe Senior Leaders category recognises leaders who drive change within FinTech beyond their day-to-day role, while also helping others through mentoring, support groups, sharing experience or voluntary work.\n\nInnovate Finance received over 1,000 nominations for the Women in FinTech Powerlist 2020, highlighting the growth of female talent in the FinTech ecosystem.\n\nI'm passionate about leading the industry change with FinTech. Being included in the Women in FinTech Powerlist 2020 is a vital recognition of my contribution to creating a fairer, more compliant industry and achieving better outcomes for financial services customers. Joanne Smith\n\nDriving forward change to transform financial services\n\nAware of finance industry compliance issues and customer miss-selling that had been ignored for decades, Joanne decided to drive change. She founded TCC to transform the compliance landscape. The technology-enabled services business is now in its 20th year and won the \u2018Best RegTech Company 2021\u2019 award in the FinTech Breakthrough Awards programme.\n\nJoanne\u2019s vision for AI technology to help solve finance industry compliance issues and protect customers led her to start Recordsure. Recordsure\u2019s AI analytics technology was built to close the regulatory gap, introduce transparency and accountability, and protect customers.\n\nFinancial firms benefit from compliance, reduced risk and remediation costs, and intelligence that can improve customer experience. While financial firms gain tangible benefits, Joanne is most proud of her contribution to protecting customers and making a positive impact on society.\n\nJoanne supports female founders and is a serial investor in female-led technology businesses, addressing the 1% funding challenges of female entrepreneurs.", "wordCount": 327, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Women in FinTech" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Women in FinTech Powerlist 2020", "url": "https://www.innovatefinance.com/womeninfintech/powerlist2020/" }, { "@type": "CreativeWork", "name": "Innovate Finance", "url": "https://www.innovatefinance.com/" }, { "@type": "CreativeWork", "name": "Best RegTech Company 2021", "url": "https://tcc.group/blog/2021/03/16/tcc-group-named-best-regtech-company-in-2021-fintech-breakthrough-awards-program/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure announced that Joanne Smith, Founder and Executive Chair at Recordsure and TCC Group, had been featured in the Women in FinTech Powerlist 2020 in the Senior Leaders category. Her place on the Powerlist recognised her work in the FinTech sector and her achievements over the previous 12 months.\n\nThe Senior Leaders category recognises leaders who drive change within FinTech beyond their day-to-day role, while also helping others through mentoring, support groups, sharing experience or voluntary work.\n\nInnovate Finance received over 1,000 nominations for the Women in FinTech Powerlist 2020, highlighting the growth of female talent in the FinTech ecosystem.\n\nI'm passionate about leading the industry change with FinTech. Being included in the Women in FinTech Powerlist 2020 is a vital recognition of my contribution to creating a fairer, more compliant industry and achieving better outcomes for financial services customers. Joanne Smith" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Driving forward change to transform financial services", "text": "Aware of finance industry compliance issues and customer miss-selling that had been ignored for decades, Joanne decided to drive change. She founded TCC to transform the compliance landscape. The technology-enabled services business is now in its 20th year and won the \u2018Best RegTech Company 2021\u2019 award in the FinTech Breakthrough Awards programme.\n\nJoanne\u2019s vision for AI technology to help solve finance industry compliance issues and protect customers led her to start Recordsure. Recordsure\u2019s AI analytics technology was built to close the regulatory gap, introduce transparency and accountability, and protect customers.\n\nFinancial firms benefit from compliance, reduced risk and remediation costs, and intelligence that can improve customer experience. While financial firms gain tangible benefits, Joanne is most proud of her contribution to protecting customers and making a positive impact on society.\n\nJoanne supports female founders and is a serial investor in female-led technology businesses, addressing the 1% funding challenges of female entrepreneurs." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/women-in-fintech-powerlist-2020-joanne-smith-founder-of-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which Powerlist category included Joanne Smith?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith was featured in the Senior Leaders category of the Women in FinTech Powerlist 2020." } }, { "@type": "Question", "name": "What did the Senior Leaders category recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognised leaders who drive change in FinTech beyond their day-to-day roles and help others through mentoring, support groups, shared experience or voluntary work." } }, { "@type": "Question", "name": "What businesses are connected to Joanne\u2019s work?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne\u2019s work is connected to TCC Group and Recordsure, including compliance services and AI analytics technology." } } ] } ] } ``` ### Expert industry analysis of the UK mortgage market and regulatory compliance - URL: https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/ - Published: 2021-03-19 - Modified: 2026-10-09 **Topic:** Mortgage market review Recordsure hosted a live event following its UK Mortgage Market Review whitepaper. Panellists discussed lending market volatility, affordability, Brexit uncertainty, vulnerability and how conversation analytics can support fair treatment. #### Key points - The event followed Recordsure’s UK Mortgage Market Review whitepaper on market impacts, trends and compliance risks. - The mortgage market review cites a £280 billion lending market and 1.9 million emergency payment holidays. - Speakers discussed affordability, Brexit uncertainty and short-term challenges for advisers and brokers. - Customer vulnerability increases the need for process, compliance and conversation insight. Live event synopsis In response to the release of our latest whitepaper, ‘The UK Mortgage Market Review’, we hosted a live event with experts in the lending sector to delve into the research paper. Our whitepaper looks at the recent impacts on the mortgage market, emerging trends, and potential risks through regulatory compliance. Our live event featured some of the leading minds in the field. Steven Hewlett-Light, Head of Product Delivery at Recordsure, chaired the event and led the Q&A panel discussions with the speakers. Tony Wells, Guest Speaker, Head of Competence & Evaluation, Home Buying & Ownership at the NatWest Group Craig Skelton, Managing Director at CS Financial Group Limited Stuart Mosley, Director at SJ Financial Solutions Andrew Montlake, Managing Director at Coreco #### The UK Mortgage Market Review The mortgage market has been undoubtedly healthy since the 2008-2009 financial crisis. In that time, the lending market has swelled to £280 billion. Although, in the first five months of the pandemic, over 1.9 million mortgage accounts were subject to emergency payment holidays, evidence that the pandemic has had a dire impact on the financial wellbeing of millions. Despite this, after the first lockdown was lifted, mortgage approval saw an increase of 66,300 applications being accepted, which is 7x higher than in May 2020, showing that the industry saw massive fluctuations monthly. #### What will be the main drivers impacting the sector in the next 12 months? To initiate this conversation, Steven brought Tony Wells in. Tony stated he was in an excellent position to answer this as he works predominately in a support function within NatWest where he can survey the entire environment facing the industry. Tony issued a prediction that included a myriad of external factors which would impact the industry. These included positive Brexit trade deals, which could see the industry benefit, a downward trajectory for the pandemic and a positive plan set forward by the Chancellor in recent days. Craig Skelton took this point further. He stated that from his perspective, the future looks to revolve primarily around affordability for mortgage lending. Borrowers and lenders alike live on shifting ground at the moment, and any predictions on affordability come at the expense of understanding the next stage that awaits the industry. The current plan is to reopen many businesses in different sectors, but these plans could change as they’re depended on predictions about the virus, which changes rapidly, with no notice. #### What are the main difficulties advisers face in months to come? Our guests unanimously agreed that the main limitation that advisors face is the Brexit question. Uncertainty within financial markets casts doubt, which leads to unfavourable risk being taken on by financial institutions. Andrew Montlake lends accuracy to this by explaining that the Brexit trade deal is complete, however, the financial services trade deal is not. This impacts the short term issues where brokers struggle to deal with overseas clients, such as ex-pats or multinationals. The risk here is that these clients will move on and seek assistance from nations within the EEA, or for those that remain, advisers will have to comprehend and adhere to different financial regulations than those that solely apply to the UK. #### Global pandemic and customer vulnerability The increased level of customer vulnerability unquestionably brings new focus to process and compliance. Along with the standard mortgage application process, firms realise the importance of recognising customer vulnerability. Speech recognition AI-based technologies, like Recordsure’s Voice solution, play an important role in providing insights. They help highlight potential client vulnerability and play a positive role in assisting advisors to ensure fair treatment. [Recordsure](/technology/conversation-intelligence/)‘s speech analytics turn customer conversations into valuable insights that offer unique intelligence to better respond to customer’s needs and circumstances. To gain more insights from our esteemed panellists, you can revisit the session by watching the video from the event by clicking the image above. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Panellists discussed lending market volatility, affordability, Brexit uncertainty, vulnerability and how conversation analytics can support fair treatment.\n\nLive event synopsis\n\nIn response to the release of our latest whitepaper, \u2018The UK Mortgage Market Review\u2019, we hosted a live event with experts in the lending sector to delve into the research paper. Our whitepaper looks at the recent impacts on the mortgage market, emerging trends, and potential risks through regulatory compliance.\n\nOur live event featured some of the leading minds in the field.\n\nSteven Hewlett-Light, Head of Product Delivery at Recordsure, chaired the event and led the Q&A panel discussions with the speakers.\n\nTony Wells, Guest Speaker, Head of Competence & Evaluation, Home Buying & Ownership at the NatWest Group\n\nCraig Skelton, Managing Director at CS Financial Group Limited\n\nStuart Mosley, Director at SJ Financial Solutions\n\nAndrew Montlake, Managing Director at Coreco\n\nThe UK Mortgage Market Review\n\nThe mortgage market has been undoubtedly healthy since the 2008-2009 financial crisis. In that time, the lending market has swelled to \u00a3280 billion. Although, in the first five months of the pandemic, over 1.9 million mortgage accounts were subject to emergency payment holidays, evidence that the pandemic has had a dire impact on the financial wellbeing of millions. Despite this, after the first lockdown was lifted, mortgage approval saw an increase of 66,300 applications being accepted, which is 7x higher than in May 2020, showing that the industry saw massive fluctuations monthly.\n\nWhat will be the main drivers impacting the sector in the next 12 months?\n\nTo initiate this conversation, Steven brought Tony Wells in. Tony stated he was in an excellent position to answer this as he works predominately in a support function within NatWest where he can survey the entire environment facing the industry. Tony issued a prediction that included a myriad of external factors which would impact the industry. These included positive Brexit trade deals, which could see the industry benefit, a downward trajectory for the pandemic and a positive plan set forward by the Chancellor in recent days.\n\nCraig Skelton took this point further. He stated that from his perspective, the future looks to revolve primarily around affordability for mortgage lending. Borrowers and lenders alike live on shifting ground at the moment, and any predictions on affordability come at the expense of understanding the next stage that awaits the industry. The current plan is to reopen many businesses in different sectors, but these plans could change as they\u2019re depended on predictions about the virus, which changes rapidly, with no notice.\n\nWhat are the main difficulties advisers face in months to come?\n\nOur guests unanimously agreed that the main limitation that advisors face is the Brexit question. Uncertainty within financial markets casts doubt, which leads to unfavourable risk being taken on by financial institutions.\n\nAndrew Montlake lends accuracy to this by explaining that the Brexit trade deal is complete, however, the financial services trade deal is not. This impacts the short term issues where brokers struggle to deal with overseas clients, such as ex-pats or multinationals. The risk here is that these clients will move on and seek assistance from nations within the EEA, or for those that remain, advisers will have to comprehend and adhere to different financial regulations than those that solely apply to the UK.\n\nGlobal pandemic and customer vulnerability\n\nThe increased level of customer vulnerability unquestionably brings new focus to process and compliance. Along with the standard mortgage application process, firms realise the importance of recognising customer vulnerability. Speech recognition AI-based technologies, like Recordsure\u2019s Voice solution, play an important role in providing insights. They help highlight potential client vulnerability and play a positive role in assisting advisors to ensure fair treatment.\n\nRecordsure\u2018s speech analytics turn customer conversations into valuable insights that offer unique intelligence to better respond to customer\u2019s needs and circumstances.\n\nTo gain more insights from our esteemed panellists, you can revisit the session by watching the video from the event by clicking the image above.", "wordCount": 672, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Mortgage market review" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "text": "Live event synopsis\n\nIn response to the release of our latest whitepaper, \u2018The UK Mortgage Market Review\u2019, we hosted a live event with experts in the lending sector to delve into the research paper. Our whitepaper looks at the recent impacts on the mortgage market, emerging trends, and potential risks through regulatory compliance.\n\nOur live event featured some of the leading minds in the field.\n\nSteven Hewlett-Light, Head of Product Delivery at Recordsure, chaired the event and led the Q&A panel discussions with the speakers.\n\nTony Wells, Guest Speaker, Head of Competence & Evaluation, Home Buying & Ownership at the NatWest Group\n\nCraig Skelton, Managing Director at CS Financial Group Limited\n\nStuart Mosley, Director at SJ Financial Solutions\n\nAndrew Montlake, Managing Director at Coreco" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "The UK Mortgage Market Review", "text": "The mortgage market has been undoubtedly healthy since the 2008-2009 financial crisis. In that time, the lending market has swelled to \u00a3280 billion. Although, in the first five months of the pandemic, over 1.9 million mortgage accounts were subject to emergency payment holidays, evidence that the pandemic has had a dire impact on the financial wellbeing of millions. Despite this, after the first lockdown was lifted, mortgage approval saw an increase of 66,300 applications being accepted, which is 7x higher than in May 2020, showing that the industry saw massive fluctuations monthly." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "What will be the main drivers impacting the sector in the next 12 months?", "text": "To initiate this conversation, Steven brought Tony Wells in. Tony stated he was in an excellent position to answer this as he works predominately in a support function within NatWest where he can survey the entire environment facing the industry. Tony issued a prediction that included a myriad of external factors which would impact the industry. These included positive Brexit trade deals, which could see the industry benefit, a downward trajectory for the pandemic and a positive plan set forward by the Chancellor in recent days.\n\nCraig Skelton took this point further. He stated that from his perspective, the future looks to revolve primarily around affordability for mortgage lending. Borrowers and lenders alike live on shifting ground at the moment, and any predictions on affordability come at the expense of understanding the next stage that awaits the industry. The current plan is to reopen many businesses in different sectors, but these plans could change as they\u2019re depended on predictions about the virus, which changes rapidly, with no notice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "What are the main difficulties advisers face in months to come?", "text": "Our guests unanimously agreed that the main limitation that advisors face is the Brexit question. Uncertainty within financial markets casts doubt, which leads to unfavourable risk being taken on by financial institutions.\n\nAndrew Montlake lends accuracy to this by explaining that the Brexit trade deal is complete, however, the financial services trade deal is not. This impacts the short term issues where brokers struggle to deal with overseas clients, such as ex-pats or multinationals. The risk here is that these clients will move on and seek assistance from nations within the EEA, or for those that remain, advisers will have to comprehend and adhere to different financial regulations than those that solely apply to the UK." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "Global pandemic and customer vulnerability", "text": "The increased level of customer vulnerability unquestionably brings new focus to process and compliance. Along with the standard mortgage application process, firms realise the importance of recognising customer vulnerability. Speech recognition AI-based technologies, like Recordsure\u2019s Voice solution, play an important role in providing insights. They help highlight potential client vulnerability and play a positive role in assisting advisors to ensure fair treatment.\n\nRecordsure\u2018s speech analytics turn customer conversations into valuable insights that offer unique intelligence to better respond to customer\u2019s needs and circumstances.\n\nTo gain more insights from our esteemed panellists, you can revisit the session by watching the video from the event by clicking the image above." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/expert-industry-analysis-of-the-uk-mortgage-market-and-regulatory-compliance/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What prompted the live event?", "acceptedAnswer": { "@type": "Answer", "text": "The event followed the release of Recordsure\u2019s whitepaper, \u2018The UK Mortgage Market Review\u2019." } }, { "@type": "Question", "name": "Which mortgage market figures are cited?", "acceptedAnswer": { "@type": "Answer", "text": "It cites a \u00a3280 billion lending market, more than 1.9 million payment holidays and 66,300 accepted mortgage approvals after the first lockdown was lifted." } }, { "@type": "Question", "name": "What adviser difficulty did the guests agree on?", "acceptedAnswer": { "@type": "Answer", "text": "They agreed that the Brexit question was a main limitation because uncertainty in financial markets creates doubt and risk." } }, { "@type": "Question", "name": "How can technology support vulnerability oversight?", "acceptedAnswer": { "@type": "Answer", "text": "It says speech recognition AI-based technology can provide insight, highlight potential vulnerability and support fair treatment." } } ] } ] } ``` ### In the spotlight: Adeline Han, Programme Director - URL: https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/ - Published: 2021-03-12 - Modified: 2026-10-09 **Topic:** Inclusive careers Adeline Han’s career story shows how inclusive teams, equal opportunities and trust help people develop at Recordsure. #### Key points - Adeline Han describes gender stereotypes she experienced across different stages of her career. - Her career moved from technical foundations into business and change-oriented roles. - Adeline says her function has a higher female to male ratio and works respectfully with technical and science teams. - Konstantinos Nikou describes Recordsure as a workplace where inclusivity helps individual voices be heard. In celebration of International Women’s Week, we had the privilege to talk to some of the remarkable women who work at Recordsure about gender bias and diversity in the workplace. To round up the inspiring and uplifting series, we talk to Adeline Han, Programme Director at Recordsure. Adeline shares her views on gender bias and stereotyping, and explains why inclusivity and equal opportunities are critical for personal growth and career development. While discussing gender bias and diversity, Konstantinos Nikou, Senior DevOps Engineer, considers the integral role inclusivity plays in driving success for businesses and employees alike. #### Adeline Han, Programme Director In the early years of my career, I was told that I was too quiet, too timid or not technically minded. In the latter parts of my career, as I gained experience and confidence in my own abilities, I have been accused of being too aggressive, overconfident and too emotional. Adeline Han, Programme Director #### Career profile Adeline studied Computer Systems Engineering in Australia, where she graduated as one of 15 women in a class of 100. In 2016, while in New York, she was one of 11 women in a class of 68 studying towards a joint Executive MBA with Columbia Business School and London Business School. Adeline’s career started with technically focused roles, yet she quickly gravitated towards more business and change-oriented roles. At Recordsure, Adeline is responsible for the successful implementation and delivery of Recordsure’s solution across our Voice client portfolio. She is an active member of Recordsure’s CSR (Corporate Social Responsibility) committee, championing initiatives and change driven by the UN Global Goals of Quality Education and Climate Action. #### Gender bias in the working environment Throughout her career across Australia, the US and the UK, Adeline has experienced her fair share of gender stereotyping and bias clichés. “I’m a petite female of Chinese descent in a male-dominated industry,” Adeline says. She recalls times when she was challenged for being too quiet and not technically minded, then later in her career, she was confronted for being overconfident. Adeline’s experience resonates with many women as they face gender bias in the workplace. She feels more positive about gender diversity these days as the gender stereotype occurrences have become more of an exception in the last 5-6 years. #### Diversity at Recordsure Recordsure strives to be an inclusive employer that promotes diversity. Within my specific function, Product, Delivery and Marketing, we are one of the few functions internally who has a higher female to male ratio. Adeline Han, Programme Director Adeline’s function works closely and collaboratively with their technical and science counterparts. She comments: “Many within my functions do not have a technical background, but I’m happy and proud to say that despite this, we are treated with respect and with equal opportunities irrespectively.” Now and then, the more technical team members need a reminder to switch back from ‘tech lingo’, but it is done with humour. Teams have an immense appreciation for each other and the advantages team diversity brings to projects. #### Inclusivity encourages talent development For Adeline, Recordsure’s inclusivity defines personal development opportunities that also benefit the business – and customers. Employees are given the trust and opportunities to expand their expertise beyond current roles to gain wider-reaching experience and challenge themselves. I'm excited to work for a company that gives its employees trust and opportunities to expand their remit and realise their untapped potential. Adeline Han, Programme Director Konstantinos, similarly to Adeline, appreciates Recordsure’s approach to diversity and the effortless way the company creates opportunities for talent development. #### Konstantinos Nikou, Senior DevOps Engineer Between all the companies I have worked for, Recordsure is one of the top places where inclusivity plays an integral role in driving our success by ensuring individual voices are heard irrespective of the person's gender, ethnic background and religious beliefs. Konstantinos Nikou, Senior DevOps Engineer Konstantinos recognises that within Recordsure’s business and technology teams, gender diversity is welcomed and highly valued, especially when it comes to personal and professional development. He praises Recordsure for offering opportunities that empower the pursuit of roles outside one’s field of expertise and working within cross-functional teams: “We, as a business, are able to provide excellent products to customers while ensuring that all team members can fulfil their potential.” #### Culture of equality and inclusivity Recordsure’s pro-active attitude to providing equal opportunities and recognising individuals’ achievements, without prejudice or bias, has been remarked on by female and male employees across the business. **Joe Norburn, CEO at Recordsure**, applauds the employees and teams for their positive contribution towards inclusive culture at Recordsure and their exemplary respect and support for each other. “I’m proud of the diversity we have at Recordsure. We are diverse and inclusive by instinct, and we haven’t needed to make it an explicit initiative. When it’s a natural part of the modus operandi and our culture, inclusivity becomes just how we work and the key to what makes us, us.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Adeline shares her views on gender bias and stereotyping, and explains why inclusivity and equal opportunities are critical for personal growth and career development.\n\nWhile discussing gender bias and diversity, Konstantinos Nikou, Senior DevOps Engineer, considers the integral role inclusivity plays in driving success for businesses and employees alike.\n\nAdeline Han, Programme Director\n\nIn the early years of my career, I was told that I was too quiet, too timid or not technically minded. In the latter parts of my career, as I gained experience and confidence in my own abilities, I have been accused of being too aggressive, overconfident and too emotional. Adeline Han, Programme Director\n\nCareer profile\n\nAdeline studied Computer Systems Engineering in Australia, where she graduated as one of 15 women in a class of 100. In 2016, while in New York, she was one of 11 women in a class of 68 studying towards a joint Executive MBA with Columbia Business School and London Business School.\n\nAdeline\u2019s career started with technically focused roles, yet she quickly gravitated towards more business and change-oriented roles.\n\nAt Recordsure, Adeline is responsible for the successful implementation and delivery of Recordsure\u2019s solution across our Voice client portfolio. She is an active member of Recordsure\u2019s CSR (Corporate Social Responsibility) committee, championing initiatives and change driven by the UN Global Goals of Quality Education and Climate Action.\n\nGender bias in the working environment\n\nThroughout her career across Australia, the US and the UK, Adeline has experienced her fair share of gender stereotyping and bias clich\u00e9s.\n\n\u201cI\u2019m a petite female of Chinese descent in a male-dominated industry,\u201d Adeline says. She recalls times when she was challenged for being too quiet and not technically minded, then later in her career, she was confronted for being overconfident.\n\nAdeline\u2019s experience resonates with many women as they face gender bias in the workplace. She feels more positive about gender diversity these days as the gender stereotype occurrences have become more of an exception in the last 5-6 years.\n\nDiversity at Recordsure\n\nRecordsure strives to be an inclusive employer that promotes diversity. Within my specific function, Product, Delivery and Marketing, we are one of the few functions internally who has a higher female to male ratio. Adeline Han, Programme Director\n\nAdeline\u2019s function works closely and collaboratively with their technical and science counterparts. She comments: \u201cMany within my functions do not have a technical background, but I\u2019m happy and proud to say that despite this, we are treated with respect and with equal opportunities irrespectively.\u201d\n\nNow and then, the more technical team members need a reminder to switch back from \u2018tech lingo\u2019, but it is done with humour. Teams have an immense appreciation for each other and the advantages team diversity brings to projects.\n\nInclusivity encourages talent development\n\nFor Adeline, Recordsure\u2019s inclusivity defines personal development opportunities that also benefit the business \u2013 and customers. Employees are given the trust and opportunities to expand their expertise beyond current roles to gain wider-reaching experience and challenge themselves.\n\nI'm excited to work for a company that gives its employees trust and opportunities to expand their remit and realise their untapped potential. Adeline Han, Programme Director\n\nKonstantinos, similarly to Adeline, appreciates Recordsure\u2019s approach to diversity and the effortless way the company creates opportunities for talent development.\n\nKonstantinos Nikou, Senior DevOps Engineer\n\nBetween all the companies I have worked for, Recordsure is one of the top places where inclusivity plays an integral role in driving our success by ensuring individual voices are heard irrespective of the person's gender, ethnic background and religious beliefs. Konstantinos Nikou, Senior DevOps Engineer\n\nKonstantinos recognises that within Recordsure\u2019s business and technology teams, gender diversity is welcomed and highly valued, especially when it comes to personal and professional development.\n\nHe praises Recordsure for offering opportunities that empower the pursuit of roles outside one\u2019s field of expertise and working within cross-functional teams: \u201cWe, as a business, are able to provide excellent products to customers while ensuring that all team members can fulfil their potential.\u201d\n\nCulture of equality and inclusivity\n\nRecordsure\u2019s pro-active attitude to providing equal opportunities and recognising individuals\u2019 achievements, without prejudice or bias, has been remarked on by female and male employees across the business.\n\nJoe Norburn, CEO at Recordsure, applauds the employees and teams for their positive contribution towards inclusive culture at Recordsure and their exemplary respect and support for each other.\n\n\u201cI\u2019m proud of the diversity we have at Recordsure. We are diverse and inclusive by instinct, and we haven\u2019t needed to make it an explicit initiative. 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Adeline shares her views on gender bias and stereotyping, and explains why inclusivity and equal opportunities are critical for personal growth and career development.\n\nWhile discussing gender bias and diversity, Konstantinos Nikou, Senior DevOps Engineer, considers the integral role inclusivity plays in driving success for businesses and employees alike." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Adeline Han, Programme Director", "text": "In the early years of my career, I was told that I was too quiet, too timid or not technically minded. In the latter parts of my career, as I gained experience and confidence in my own abilities, I have been accused of being too aggressive, overconfident and too emotional. Adeline Han, Programme Director" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Career profile", "text": "Adeline studied Computer Systems Engineering in Australia, where she graduated as one of 15 women in a class of 100. In 2016, while in New York, she was one of 11 women in a class of 68 studying towards a joint Executive MBA with Columbia Business School and London Business School.\n\nAdeline\u2019s career started with technically focused roles, yet she quickly gravitated towards more business and change-oriented roles.\n\nAt Recordsure, Adeline is responsible for the successful implementation and delivery of Recordsure\u2019s solution across our Voice client portfolio. She is an active member of Recordsure\u2019s CSR (Corporate Social Responsibility) committee, championing initiatives and change driven by the UN Global Goals of Quality Education and Climate Action." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Gender bias in the working environment", "text": "Throughout her career across Australia, the US and the UK, Adeline has experienced her fair share of gender stereotyping and bias clich\u00e9s.\n\n\u201cI\u2019m a petite female of Chinese descent in a male-dominated industry,\u201d Adeline says. She recalls times when she was challenged for being too quiet and not technically minded, then later in her career, she was confronted for being overconfident.\n\nAdeline\u2019s experience resonates with many women as they face gender bias in the workplace. She feels more positive about gender diversity these days as the gender stereotype occurrences have become more of an exception in the last 5-6 years." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Diversity at Recordsure", "text": "Recordsure strives to be an inclusive employer that promotes diversity. Within my specific function, Product, Delivery and Marketing, we are one of the few functions internally who has a higher female to male ratio. Adeline Han, Programme Director\n\nAdeline\u2019s function works closely and collaboratively with their technical and science counterparts. She comments: \u201cMany within my functions do not have a technical background, but I\u2019m happy and proud to say that despite this, we are treated with respect and with equal opportunities irrespectively.\u201d\n\nNow and then, the more technical team members need a reminder to switch back from \u2018tech lingo\u2019, but it is done with humour. Teams have an immense appreciation for each other and the advantages team diversity brings to projects." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Inclusivity encourages talent development", "text": "For Adeline, Recordsure\u2019s inclusivity defines personal development opportunities that also benefit the business \u2013 and customers. Employees are given the trust and opportunities to expand their expertise beyond current roles to gain wider-reaching experience and challenge themselves.\n\nI'm excited to work for a company that gives its employees trust and opportunities to expand their remit and realise their untapped potential. Adeline Han, Programme Director\n\nKonstantinos, similarly to Adeline, appreciates Recordsure\u2019s approach to diversity and the effortless way the company creates opportunities for talent development." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Konstantinos Nikou, Senior DevOps Engineer", "text": "Between all the companies I have worked for, Recordsure is one of the top places where inclusivity plays an integral role in driving our success by ensuring individual voices are heard irrespective of the person's gender, ethnic background and religious beliefs. Konstantinos Nikou, Senior DevOps Engineer\n\nKonstantinos recognises that within Recordsure\u2019s business and technology teams, gender diversity is welcomed and highly valued, especially when it comes to personal and professional development.\n\nHe praises Recordsure for offering opportunities that empower the pursuit of roles outside one\u2019s field of expertise and working within cross-functional teams: \u201cWe, as a business, are able to provide excellent products to customers while ensuring that all team members can fulfil their potential.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "headline": "Culture of equality and inclusivity", "text": "Recordsure\u2019s pro-active attitude to providing equal opportunities and recognising individuals\u2019 achievements, without prejudice or bias, has been remarked on by female and male employees across the business.\n\nJoe Norburn, CEO at Recordsure, applauds the employees and teams for their positive contribution towards inclusive culture at Recordsure and their exemplary respect and support for each other.\n\n\u201cI\u2019m proud of the diversity we have at Recordsure. We are diverse and inclusive by instinct, and we haven\u2019t needed to make it an explicit initiative. When it\u2019s a natural part of the modus operandi and our culture, inclusivity becomes just how we work and the key to what makes us, us.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-adeline-han-programme-director/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Adeline Han?", "acceptedAnswer": { "@type": "Answer", "text": "Adeline Han is Programme Director at Recordsure, responsible for implementation and delivery across the Voice client portfolio." } }, { "@type": "Question", "name": "What career background does Adeline describe?", "acceptedAnswer": { "@type": "Answer", "text": "She studied Computer Systems Engineering, began in technical roles and moved towards business and change-oriented work." } }, { "@type": "Question", "name": "What does Adeline say about diversity at Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure strives to be inclusive, and her function has a higher female to male ratio." } }, { "@type": "Question", "name": "How does Konstantinos describe inclusivity?", "acceptedAnswer": { "@type": "Answer", "text": "Inclusivity helps ensure individual voices are heard irrespective of gender, ethnic background or religious beliefs." } } ] } ] } ``` ### In the spotlight: Maisie Mattison, AI Training Lead - URL: https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/ - Published: 2021-03-11 - Modified: 2026-10-09 **Topic:** Diverse leadership Maisie Mattison’s route into AI training shows why diverse leadership, female managers and inclusive teams support development at Recordsure. #### Key points - Maisie Mattison joined Recordsure in March 2019 and became Artificial Intelligence Training Lead in July 2020. - A female founder and diverse leadership were important factors when Maisie joined Recordsure. - Maisie values working with talented and confident women across the business. - Ismail Antulay describes Recordsure as a diverse workplace with women across departments. In celebration of International Women’s Week and gender inclusivity, we continue to turn the spotlight on some of the remarkable women who work at Recordsure. International Women’s Week has helped draw attention to gender diversity, one of the leading diversity issues in the workplace. Maisie Mattison, AI Training Lead at Recordsure, talks about her experience with gender bias, inclusivity and the importance of women in leadership roles. Joining the discussion is Ismail Antulay, Senior Tester at Recordsure, as Maisie and Ismail compare their views on Recordsure’s approach to diversity. #### Maisie Mattison, AI Training Lead When I joined Recordsure, one of the initial things that attracted me to the company was that Recordsure has a female founder. Having a diverse leadership team is definitely something I value in an employer." Maisie Mattison, AI Training Lead #### Career profile Maisie joined Recordsure in March 2019 as a Transcriber and Conversation Analyst after graduating from the University of Leeds with a degree in English Language and Linguistics. Her interest in language has been the key to her success and, in July 2020, Maisie was promoted to the role of Artificial Intelligence (AI) Training Lead. #### Gender bias in the working environment Like many women, Maisie has experienced gender bias in the workplace: “In the past, I have worked for companies that had a male bias in leadership roles.” This influenced Maisie’s decision when she considered her future career options as she sought an opportunity to work for an employer with a positive attitude to diversity. #### Diversity at Recordsure Maisie views Recordsure as an inclusive employer, despite the technology industry being typically dominated by men, and finds it refreshing not to worry about being the only female working on a project. On a day-to-day basis, I report to a female manager who has helped develop my skills and created opportunities for me. I work with incredibly talented and confident women in different areas of the company. Maisie Mattison, AI Training Lead Commenting further on Recordsure’s positive attitude towards diversity and inclusiveness, Maisie remarks: “Recordsure certainly has a diverse workforce.” Maisie’s experience of Recordsure’s diversity beyond gender is akin to Ismail’s. #### Ismail Antulay, Senior Tester It amazes me to find so many wonderful people from different countries, cities, knowing so many languages (apart from programming languages, of course), having sophisticated accents, willing to listen to each other, co-exist and work together as a team. Ismail Antulay, Senior Tester Ismail joined Recordsure last year and was pleased to see the variety of people that ‘flocked together’ at Recordsure, who can express their thoughts and ideas with ease. When asked about his view on gender diversity, Ismail feels that Recordsure is a diverse and inclusive employer. “We have women in every department, and it gives me immense pleasure to say that Recordsure’s top scientists are women. We have a fair balance of women as Project Managers, Business Analysts, Testers and Team Leaders.” When it comes to Recordsure’s female founder, Ismail agrees with Maisie: “Our founder, Joanne Smith, is an inspiring woman.” Recordsure’s pro-active attitude to providing equal opportunities and recognising individuals’ achievements, without prejudice or bias, certainly resonates with female and male employees across the business. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Maisie Mattison, AI Training Lead at Recordsure, talks about her experience with gender bias, inclusivity and the importance of women in leadership roles.\n\nJoining the discussion is Ismail Antulay, Senior Tester at Recordsure, as Maisie and Ismail compare their views on Recordsure\u2019s approach to diversity.\n\nMaisie Mattison, AI Training Lead\n\nWhen I joined Recordsure, one of the initial things that attracted me to the company was that Recordsure has a female founder. Having a diverse leadership team is definitely something I value in an employer.\" Maisie Mattison, AI Training Lead\n\nCareer profile\n\nMaisie joined Recordsure in March 2019 as a Transcriber and Conversation Analyst after graduating from the University of Leeds with a degree in English Language and Linguistics.\n\nHer interest in language has been the key to her success and, in July 2020, Maisie was promoted to the role of Artificial Intelligence (AI) Training Lead.\n\nGender bias in the working environment\n\nLike many women, Maisie has experienced gender bias in the workplace: \u201cIn the past, I have worked for companies that had a male bias in leadership roles.\u201d\n\nThis influenced Maisie\u2019s decision when she considered her future career options as she sought an opportunity to work for an employer with a positive attitude to diversity.\n\nDiversity at Recordsure\n\nMaisie views Recordsure as an inclusive employer, despite the technology industry being typically dominated by men, and finds it refreshing not to worry about being the only female working on a project.\n\nOn a day-to-day basis, I report to a female manager who has helped develop my skills and created opportunities for me. I work with incredibly talented and confident women in different areas of the company. Maisie Mattison, AI Training Lead\n\nCommenting further on Recordsure\u2019s positive attitude towards diversity and inclusiveness, Maisie remarks: \u201cRecordsure certainly has a diverse workforce.\u201d\n\nMaisie\u2019s experience of Recordsure\u2019s diversity beyond gender is akin to Ismail\u2019s.\n\nIsmail Antulay, Senior Tester\n\nIt amazes me to find so many wonderful people from different countries, cities, knowing so many languages (apart from programming languages, of course), having sophisticated accents, willing to listen to each other, co-exist and work together as a team. Ismail Antulay, Senior Tester\n\nIsmail joined Recordsure last year and was pleased to see the variety of people that \u2018flocked together\u2019 at Recordsure, who can express their thoughts and ideas with ease.\n\nWhen asked about his view on gender diversity, Ismail feels that Recordsure is a diverse and inclusive employer.\n\n\u201cWe have women in every department, and it gives me immense pleasure to say that Recordsure\u2019s top scientists are women. We have a fair balance of women as Project Managers, Business Analysts, Testers and Team Leaders.\u201d\n\nWhen it comes to Recordsure\u2019s female founder, Ismail agrees with Maisie: \u201cOur founder, Joanne Smith, is an inspiring woman.\u201d\n\nRecordsure\u2019s pro-active attitude to providing equal opportunities and recognising individuals\u2019 achievements, without prejudice or bias, certainly resonates with female and male employees across the business.", "wordCount": 546, "keywords": [ "Government" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Diverse leadership" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-6" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "In celebration of International Women\u2019s Week and gender inclusivity, we continue to turn the spotlight on some of the remarkable women who work at Recordsure.\n\nInternational Women\u2019s Week has helped draw attention to gender diversity, one of the leading diversity issues in the workplace. Maisie Mattison, AI Training Lead at Recordsure, talks about her experience with gender bias, inclusivity and the importance of women in leadership roles.\n\nJoining the discussion is Ismail Antulay, Senior Tester at Recordsure, as Maisie and Ismail compare their views on Recordsure\u2019s approach to diversity." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Maisie Mattison, AI Training Lead", "text": "When I joined Recordsure, one of the initial things that attracted me to the company was that Recordsure has a female founder. 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I work with incredibly talented and confident women in different areas of the company. Maisie Mattison, AI Training Lead\n\nCommenting further on Recordsure\u2019s positive attitude towards diversity and inclusiveness, Maisie remarks: \u201cRecordsure certainly has a diverse workforce.\u201d\n\nMaisie\u2019s experience of Recordsure\u2019s diversity beyond gender is akin to Ismail\u2019s." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Ismail Antulay, Senior Tester", "text": "It amazes me to find so many wonderful people from different countries, cities, knowing so many languages (apart from programming languages, of course), having sophisticated accents, willing to listen to each other, co-exist and work together as a team. Ismail Antulay, Senior Tester\n\nIsmail joined Recordsure last year and was pleased to see the variety of people that \u2018flocked together\u2019 at Recordsure, who can express their thoughts and ideas with ease.\n\nWhen asked about his view on gender diversity, Ismail feels that Recordsure is a diverse and inclusive employer.\n\n\u201cWe have women in every department, and it gives me immense pleasure to say that Recordsure\u2019s top scientists are women. We have a fair balance of women as Project Managers, Business Analysts, Testers and Team Leaders.\u201d\n\nWhen it comes to Recordsure\u2019s female founder, Ismail agrees with Maisie: \u201cOur founder, Joanne Smith, is an inspiring woman.\u201d\n\nRecordsure\u2019s pro-active attitude to providing equal opportunities and recognising individuals\u2019 achievements, without prejudice or bias, certainly resonates with female and male employees across the business." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-maisie-mattison-ai-training-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Maisie Mattison?", "acceptedAnswer": { "@type": "Answer", "text": "Maisie Mattison is AI Training Lead at Recordsure." } }, { "@type": "Question", "name": "What attracted Maisie to Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure having a female founder and a diverse leadership team attracted her to the company." } }, { "@type": "Question", "name": "How did Maisie\u2019s career develop at Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "She joined in March 2019 as a Transcriber and Conversation Analyst and was promoted in July 2020 to AI Training Lead." } }, { "@type": "Question", "name": "What does Ismail Antulay say about Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure has people from many backgrounds and women in every department, including top scientists." } } ] } ] } ``` ### In the spotlight: Roberta Carissimi, Science Lead at Recordsure - URL: https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/ - Published: 2021-03-10 - Modified: 2026-10-09 **Topic:** Women in science Roberta Carissimi’s experience and Anthony Channon’s recruitment focus show how Recordsure is working to improve female representation in technical teams. #### Key points - Roberta Carissimi is a data scientist who uses machine learning and analytics to support business decision-making. - She describes gender stereotypes in earlier workplaces and says the salary gap remains unacceptable. - At Recordsure, Roberta has not been treated differently because she is a woman. - Anthony Channon is working to bring more women into technical roles through recruitment and interviews. - Internal promotion, senior female leadership and external networks all support stronger inclusion. In celebration of International Women’s Week 2021, we are publishing IWD-inspired blogs to turn the spotlight on the remarkable women who work at Recordsure. We discuss gender bias and inclusivity, and what is it like to be a female working in prominently male-dominated industries. Here, our focus is on the Science function as Roberta Carissimi, Science Lead, and Anthony Channon, Head of Science and Development, share their views on why women are still under-represented in FinTech businesses. #### Career profile Roberta is a data scientist with a passion for ML techniques and for using analytics to drive business decision-making. Originally from Italy, Roberta had the opportunity to travel and experience different cultures and workplace environments, including Rome, Chicago and London. “I joined Recordsure as the Science Lead when I was 6 months pregnant and was met with a lovely and very warm welcome from everyone,” Roberta recalls. “Recordsure has been nothing but supportive and I consider myself very lucky to have the opportunity to lead a team of very intelligent and unique people.” #### Gender bias in the working environment Roberta has experienced gender inequality in working environments before joining Recordsure: “Unfortunately, I have experienced gender stereotypes during my career, particularly in Italy where the situation for women is even harder than in the UK. Being a woman, you constantly have to demonstrate how valuable you are – more than men.” “While there is less inequality in the UK, the salary gap between men and women is still unacceptable,” Roberta continues. “As women, we need to be more confident in asking for more – more promotions, more money, more benefits.” #### Diversity at Recordsure At Recordsure, I never felt diverse from my male colleagues, and I have never been treated differently because I'm a woman. People respect me and my ability to do my job is not judged based on my gender. Roberta Carissimi, Science Lead That said, Roberta still believes that Recordsure can make improvements to further promote the inclusive culture, such as more female presence in the senior management and attract more talented women to the science and development functions of the business. Roberta’s views are shared by Anthony Channon, Head of Science and Development, as we brought up the question of diversity and gender bias with him. #### Anthony Channon, Head of Science and Development Like all technical functions I've worked in, I don't yet have enough women in technical roles in my team. This is something I'm actively trying to remedy through my recruitment strategy and the interview process I use to assess candidates. Anthony Channon, Head of Science and Development Anthony manages Science and Development function with 25 scientists, software engineers and testers. The team includes five women. Driving inclusivity is a work in progress, Anthony affirms: “Like all businesses I’ve worked in, I believe we still have more to do.” He remarks on men talking far more than women on calls, behaviour that has been exacerbated by remote working. Men are known to use physical cues during in-person meetings to assert authority (consciously or otherwise), in a world of conference calls, these behaviours are being substituted by talking more and over one another. #### Managing Diversity Whilst Anthony recognises there is a need to bring more female talent to Science and Development function, he feels that Recordsure’s approach to diversity is inspiring. At Recordsure, women are promoted internally into roles within the business, both uncontested and in competition with their male colleagues. “This is a great validation to have that we’re generating opportunities and making them appealing to both men and women,” Anthony explains. On the whole, I consider Recordsure to be an inclusive employer. I'm proud that we have women at the top of our business visibly taking decisions that will set the direction for us all, coming right from the top with Joanne Smith. Anthony Channon, Head of Science and Development Anthony continues: “I’m also proud of the examples those women set to the junior members of our team, especially as we are a FinTech business, which, as an industry, has been traditionally dominated by men.” “I’ve been lucky to work with some really inspirational women during my career (and I’m married to one too), and I’ve tried to create opportunities from my network to help my female colleagues,” Anthony highly praises groups like [Woman In Data](https://womenindata.co.uk/). The leadership team’s support of female employees and gender inclusivity is certainly felt across the organisation. This outlook encourages positive attitude to diversity across all teams and functions. #### Supporting sources - [Woman In Data](https://womenindata.co.uk/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "In the spotlight: Roberta Carissimi, Science Lead at Recordsure", "item": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/", "name": "In the spotlight: Roberta Carissimi, Science Lead at Recordsure", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2021-03-10T07:10:00+00:00", "dateModified": "2021-03-12T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-03-12" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "In the spotlight: Roberta Carissimi, Science Lead at Recordsure", "datePublished": "2021-03-10T07:10:00+00:00", "dateModified": "2026-10-09T04:50:15+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/93876424ce094f02a7ded94cf1ce3b1f/thumbnail-1600-f53fb8b9d756e3a9a14816a5f4dcc6b2d53ea339c55bb97ecc48119d37d7f7b1.jpg", "description": "Roberta Carissimi and Anthony Channon discuss women in science and development, gender bias and Recordsure\u2019s approach to inclusive technical teams.", "inLanguage": "en-GB", "articleBody": "Roberta Carissimi\u2019s experience and Anthony Channon\u2019s recruitment focus show how Recordsure is working to improve female representation in technical teams.\n\nIn celebration of International Women\u2019s Week 2021, we are publishing IWD-inspired blogs to turn the spotlight on the remarkable women who work at Recordsure. We discuss gender bias and inclusivity, and what is it like to be a female working in prominently male-dominated industries.\n\nHere, our focus is on the Science function as Roberta Carissimi, Science Lead, and Anthony Channon, Head of Science and Development, share their views on why women are still under-represented in FinTech businesses.\n\nCareer profile\n\nRoberta is a data scientist with a passion for ML techniques and for using analytics to drive business decision-making. Originally from Italy, Roberta had the opportunity to travel and experience different cultures and workplace environments, including Rome, Chicago and London.\n\n\u201cI joined Recordsure as the Science Lead when I was 6 months pregnant and was met with a lovely and very warm welcome from everyone,\u201d Roberta recalls. \u201cRecordsure has been nothing but supportive and I consider myself very lucky to have the opportunity to lead a team of very intelligent and unique people.\u201d\n\nGender bias in the working environment\n\nRoberta has experienced gender inequality in working environments before joining Recordsure: \u201cUnfortunately, I have experienced gender stereotypes during my career, particularly in Italy where the situation for women is even harder than in the UK. Being a woman, you constantly have to demonstrate how valuable you are \u2013 more than men.\u201d\n\n\u201cWhile there is less inequality in the UK, the salary gap between men and women is still unacceptable,\u201d Roberta continues. \u201cAs women, we need to be more confident in asking for more \u2013 more promotions, more money, more benefits.\u201d\n\nDiversity at Recordsure\n\nAt Recordsure, I never felt diverse from my male colleagues, and I have never been treated differently because I'm a woman. People respect me and my ability to do my job is not judged based on my gender. Roberta Carissimi, Science Lead\n\nThat said, Roberta still believes that Recordsure can make improvements to further promote the inclusive culture, such as more female presence in the senior management and attract more talented women to the science and development functions of the business.\n\nRoberta\u2019s views are shared by Anthony Channon, Head of Science and Development, as we brought up the question of diversity and gender bias with him.\n\nAnthony Channon, Head of Science and Development\n\nLike all technical functions I've worked in, I don't yet have enough women in technical roles in my team. This is something I'm actively trying to remedy through my recruitment strategy and the interview process I use to assess candidates. Anthony Channon, Head of Science and Development\n\nAnthony manages Science and Development function with 25 scientists, software engineers and testers. The team includes five women.\n\nDriving inclusivity is a work in progress, Anthony affirms: \u201cLike all businesses I\u2019ve worked in, I believe we still have more to do.\u201d\n\nHe remarks on men talking far more than women on calls, behaviour that has been exacerbated by remote working. Men are known to use physical cues during in-person meetings to assert authority (consciously or otherwise), in a world of conference calls, these behaviours are being substituted by talking more and over one another.\n\nManaging Diversity\n\nWhilst Anthony recognises there is a need to bring more female talent to Science and Development function, he feels that Recordsure\u2019s approach to diversity is inspiring.\n\nAt Recordsure, women are promoted internally into roles within the business, both uncontested and in competition with their male colleagues. \u201cThis is a great validation to have that we\u2019re generating opportunities and making them appealing to both men and women,\u201d Anthony explains.\n\nOn the whole, I consider Recordsure to be an inclusive employer. I'm proud that we have women at the top of our business visibly taking decisions that will set the direction for us all, coming right from the top with Joanne Smith. Anthony Channon, Head of Science and Development\n\nAnthony continues: \u201cI\u2019m also proud of the examples those women set to the junior members of our team, especially as we are a FinTech business, which, as an industry, has been traditionally dominated by men.\u201d\n\n\u201cI\u2019ve been lucky to work with some really inspirational women during my career (and I\u2019m married to one too), and I\u2019ve tried to create opportunities from my network to help my female colleagues,\u201d Anthony highly praises groups like Woman In Data.\n\nThe leadership team\u2019s support of female employees and gender inclusivity is certainly felt across the organisation. This outlook encourages positive attitude to diversity across all teams and functions.", "wordCount": 768, "keywords": [ "Government", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Women in science" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "Woman In Data", "url": "https://womenindata.co.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "In celebration of International Women\u2019s Week 2021, we are publishing IWD-inspired blogs to turn the spotlight on the remarkable women who work at Recordsure. We discuss gender bias and inclusivity, and what is it like to be a female working in prominently male-dominated industries.\n\nHere, our focus is on the Science function as Roberta Carissimi, Science Lead, and Anthony Channon, Head of Science and Development, share their views on why women are still under-represented in FinTech businesses." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Career profile", "text": "Roberta is a data scientist with a passion for ML techniques and for using analytics to drive business decision-making. Originally from Italy, Roberta had the opportunity to travel and experience different cultures and workplace environments, including Rome, Chicago and London.\n\n\u201cI joined Recordsure as the Science Lead when I was 6 months pregnant and was met with a lovely and very warm welcome from everyone,\u201d Roberta recalls. \u201cRecordsure has been nothing but supportive and I consider myself very lucky to have the opportunity to lead a team of very intelligent and unique people.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Gender bias in the working environment", "text": "Roberta has experienced gender inequality in working environments before joining Recordsure: \u201cUnfortunately, I have experienced gender stereotypes during my career, particularly in Italy where the situation for women is even harder than in the UK. Being a woman, you constantly have to demonstrate how valuable you are \u2013 more than men.\u201d\n\n\u201cWhile there is less inequality in the UK, the salary gap between men and women is still unacceptable,\u201d Roberta continues. \u201cAs women, we need to be more confident in asking for more \u2013 more promotions, more money, more benefits.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Diversity at Recordsure", "text": "At Recordsure, I never felt diverse from my male colleagues, and I have never been treated differently because I'm a woman. People respect me and my ability to do my job is not judged based on my gender. Roberta Carissimi, Science Lead\n\nThat said, Roberta still believes that Recordsure can make improvements to further promote the inclusive culture, such as more female presence in the senior management and attract more talented women to the science and development functions of the business.\n\nRoberta\u2019s views are shared by Anthony Channon, Head of Science and Development, as we brought up the question of diversity and gender bias with him." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Anthony Channon, Head of Science and Development", "text": "Like all technical functions I've worked in, I don't yet have enough women in technical roles in my team. This is something I'm actively trying to remedy through my recruitment strategy and the interview process I use to assess candidates. Anthony Channon, Head of Science and Development\n\nAnthony manages Science and Development function with 25 scientists, software engineers and testers. The team includes five women.\n\nDriving inclusivity is a work in progress, Anthony affirms: \u201cLike all businesses I\u2019ve worked in, I believe we still have more to do.\u201d\n\nHe remarks on men talking far more than women on calls, behaviour that has been exacerbated by remote working. 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I'm proud that we have women at the top of our business visibly taking decisions that will set the direction for us all, coming right from the top with Joanne Smith. Anthony Channon, Head of Science and Development\n\nAnthony continues: \u201cI\u2019m also proud of the examples those women set to the junior members of our team, especially as we are a FinTech business, which, as an industry, has been traditionally dominated by men.\u201d\n\n\u201cI\u2019ve been lucky to work with some really inspirational women during my career (and I\u2019m married to one too), and I\u2019ve tried to create opportunities from my network to help my female colleagues,\u201d Anthony highly praises groups like Woman In Data.\n\nThe leadership team\u2019s support of female employees and gender inclusivity is certainly felt across the organisation. This outlook encourages positive attitude to diversity across all teams and functions." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-roberta-carissimi-science-lead-at-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Roberta Carissimi?", "acceptedAnswer": { "@type": "Answer", "text": "Roberta Carissimi is Science Lead at Recordsure and a data scientist with a focus on machine learning and analytics." } }, { "@type": "Question", "name": "What gender bias does Roberta describe?", "acceptedAnswer": { "@type": "Answer", "text": "She describes gender stereotypes in earlier workplaces and says women often have to demonstrate their value more than men." } }, { "@type": "Question", "name": "What does Anthony Channon say about his team?", "acceptedAnswer": { "@type": "Answer", "text": "He does not yet have enough women in technical roles and is addressing this through recruitment and interviews." } }, { "@type": "Question", "name": "What external group is mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "Anthony praises groups such as Woman In Data." } } ] } ] } ``` ### In the spotlight: Laura Wathen, Finance Director at Recordsure - URL: https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/ - Published: 2021-03-09 - Modified: 2026-10-09 **Topic:** Workplace equality Laura Wathen’s experience in male-dominated industries shows why trust around work and home life is central to workplace equality. #### Key points - Laura Wathen moved from investment banking into investment, private equity and then Recordsure and TCC. - She describes early career environments where women were under-represented in senior or non-secretarial roles. - For Laura, a workplace free of gender discrimination trusts people to balance work and home life. - Diversity, empathy and support during Covid-19 pressures all shape Recordsure’s working culture. To mark International Women’s Day, we are celebrating female talent and bringing into the spotlight some of the remarkable women who work at Recordsure. We asked them about their views on gender bias, inclusivity and diversity. #### Career profile Laura started her career in investment banking, moved into investment and private equity, and joined Recordsure and TCC as Finance Director a year and a half ago. #### Gender bias in the working environment Laura has spent the majority of her career in traditionally male-dominated industries. In her first job, she was the only woman in the company who wasn’t a secretary. In her second job, in a much bigger bank, there was only one female managing director in her division of 100+ people. “Truthfully, it didn’t bother me overly in my early 20s,” Laura says. “But in time I came to realise that while success certainly didn’t depend on your gender, it did depend on your assimilation to a ‘male’ culture, prizing total dedication to work above other personal commitments, particularly family.” Laura continues: “Becoming a parent was the moment when I first properly felt my ‘other-ness’ and saw it affect my career, both in choices I made, choices I had to make, and in choices that were made for me.” #### Diversity at Recordsure Recordsure’s positive attitude to providing equal opportunities and recognising individual’s achievements without prejudice or bias, certainly resonates with female employees across teams and functions. Consequently, for me, a hallmark of a workplace free of gender discrimination is one that trusts men and women to make choices about the balance of work and home life. I see a lot of this intention at Recordsure and applaud it. Laura Wathen, Finance Director #### Compassion during crises In addition to diversity, Recordsure employees also commented on the empathy and support they received from colleagues, managers and leaders during the pandemic, helping them get through the hardship and challenges of lockdowns. Laura believes that working parents have been under extreme pressure due to Covid-19, but there is a silver lining. It's been a very tough year to be a parent of school-age children. Perhaps one silver lining of that evident extra burden has been the respect and recognition that others now more readily accord working parents of both sexes. Laura Wathen, Finance Director Recordsure is an employer that has shown great empathy throughout the Covid-19 crises, a compassionate employer that celebrates diversity, encourages personal growth and provides opportunities, without bias. **Joe Norburn, CEO at Recordsure,** comments: “At Recordsure, we are proud of our inclusivity and diversity, and creating working environments that promote opportunities and talent.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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We asked them about their views on gender bias, inclusivity and diversity.\n\nCareer profile\n\nLaura started her career in investment banking, moved into investment and private equity, and joined Recordsure and TCC as Finance Director a year and a half ago.\n\nGender bias in the working environment\n\nLaura has spent the majority of her career in traditionally male-dominated industries. In her first job, she was the only woman in the company who wasn\u2019t a secretary. In her second job, in a much bigger bank, there was only one female managing director in her division of 100+ people.\n\n\u201cTruthfully, it didn\u2019t bother me overly in my early 20s,\u201d Laura says. \u201cBut in time I came to realise that while success certainly didn\u2019t depend on your gender, it did depend on your assimilation to a \u2018male\u2019 culture, prizing total dedication to work above other personal commitments, particularly family.\u201d\n\nLaura continues: \u201cBecoming a parent was the moment when I first properly felt my \u2018other-ness\u2019 and saw it affect my career, both in choices I made, choices I had to make, and in choices that were made for me.\u201d\n\nDiversity at Recordsure\n\nRecordsure\u2019s positive attitude to providing equal opportunities and recognising individual\u2019s achievements without prejudice or bias, certainly resonates with female employees across teams and functions.\n\nConsequently, for me, a hallmark of a workplace free of gender discrimination is one that trusts men and women to make choices about the balance of work and home life. I see a lot of this intention at Recordsure and applaud it. Laura Wathen, Finance Director\n\nCompassion during crises\n\nIn addition to diversity, Recordsure employees also commented on the empathy and support they received from colleagues, managers and leaders during the pandemic, helping them get through the hardship and challenges of lockdowns.\n\nLaura believes that working parents have been under extreme pressure due to Covid-19, but there is a silver lining.\n\nIt's been a very tough year to be a parent of school-age children. Perhaps one silver lining of that evident extra burden has been the respect and recognition that others now more readily accord working parents of both sexes. Laura Wathen, Finance Director\n\nRecordsure is an employer that has shown great empathy throughout the Covid-19 crises, a compassionate employer that celebrates diversity, encourages personal growth and provides opportunities, without bias.\n\nJoe Norburn, CEO at Recordsure, comments: \u201cAt Recordsure, we are proud of our inclusivity and diversity, and creating working environments that promote opportunities and talent.\u201d", "wordCount": 451, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Workplace equality" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "To mark International Women\u2019s Day, we are celebrating female talent and bringing into the spotlight some of the remarkable women who work at Recordsure. We asked them about their views on gender bias, inclusivity and diversity." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Career profile", "text": "Laura started her career in investment banking, moved into investment and private equity, and joined Recordsure and TCC as Finance Director a year and a half ago." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Gender bias in the working environment", "text": "Laura has spent the majority of her career in traditionally male-dominated industries. In her first job, she was the only woman in the company who wasn\u2019t a secretary. In her second job, in a much bigger bank, there was only one female managing director in her division of 100+ people.\n\n\u201cTruthfully, it didn\u2019t bother me overly in my early 20s,\u201d Laura says. \u201cBut in time I came to realise that while success certainly didn\u2019t depend on your gender, it did depend on your assimilation to a \u2018male\u2019 culture, prizing total dedication to work above other personal commitments, particularly family.\u201d\n\nLaura continues: \u201cBecoming a parent was the moment when I first properly felt my \u2018other-ness\u2019 and saw it affect my career, both in choices I made, choices I had to make, and in choices that were made for me.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Diversity at Recordsure", "text": "Recordsure\u2019s positive attitude to providing equal opportunities and recognising individual\u2019s achievements without prejudice or bias, certainly resonates with female employees across teams and functions.\n\nConsequently, for me, a hallmark of a workplace free of gender discrimination is one that trusts men and women to make choices about the balance of work and home life. I see a lot of this intention at Recordsure and applaud it. Laura Wathen, Finance Director" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Compassion during crises", "text": "In addition to diversity, Recordsure employees also commented on the empathy and support they received from colleagues, managers and leaders during the pandemic, helping them get through the hardship and challenges of lockdowns.\n\nLaura believes that working parents have been under extreme pressure due to Covid-19, but there is a silver lining.\n\nIt's been a very tough year to be a parent of school-age children. Perhaps one silver lining of that evident extra burden has been the respect and recognition that others now more readily accord working parents of both sexes. Laura Wathen, Finance Director\n\nRecordsure is an employer that has shown great empathy throughout the Covid-19 crises, a compassionate employer that celebrates diversity, encourages personal growth and provides opportunities, without bias.\n\nJoe Norburn, CEO at Recordsure, comments: \u201cAt Recordsure, we are proud of our inclusivity and diversity, and creating working environments that promote opportunities and talent.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-laura-wathen-finance-director-at-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is Laura Wathen?", "acceptedAnswer": { "@type": "Answer", "text": "Laura Wathen is Finance Director at Recordsure and TCC." } }, { "@type": "Question", "name": "What career experience does she discuss?", "acceptedAnswer": { "@type": "Answer", "text": "She discusses working in investment banking, investment and private equity, including environments where women were under-represented." } }, { "@type": "Question", "name": "What does Laura see as a hallmark of equality?", "acceptedAnswer": { "@type": "Answer", "text": "A workplace free of gender discrimination trusts men and women to make choices about balancing work and home life." } }, { "@type": "Question", "name": "How did Recordsure support people during Covid-19?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure colleagues, managers and leaders showed empathy and support during lockdown hardship and working-parent pressures." } } ] } ] } ``` ### In the spotlight: Remarkable women of Recordsure - URL: https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/ - Published: 2021-03-08 - Modified: 2026-10-09 **Topic:** Women in technology Female leadership and inclusive culture shape Recordsure’s approach to talent, diversity and technology for regulated industries. #### Key points - International Women’s Day gives Recordsure an opportunity to celebrate women in the business and discuss gender bias. - Technology is often stereotyped as a male industry, but that picture is changing. - Joanne Smith founded Recordsure with a vision for AI technology to address compliance issues and protect customers. - Inclusive leadership attracts female talent and supports a diverse workplace. International Women’s Day is a wonderful opportunity to celebrate the incredible achievements of women – throughout history and today. Challenging gender stereotypes, raising awareness against bias, be it conscious or unconscious, and taking proactive actions to ensure equality are the key themes of IWS 2021. The technology industry is notoriously stereotyped as a male industry. At Recordsure, we are a tech-based business focused on RegTech and FinTech. We use advanced Recordsure-built Artificial Intelligence technology and utilise sophisticated Machine Learning, Natural Language Processing and Robotic Process Automation to build unique Voice and Documents analytics products for regulatory industries. At Recordsure, we are also a proud employer of incredibly talented women. The face of the technology industry is positively changing. Over the past decade, I have seen a significant rise in women entering the Tech industry, bringing diversity and breaking the stereotypes. Joanne Smith, Founder To mark International Women’s Day, Recordsure is taking the opportunity to celebrate female talent. This week, in our IWD-inspired blog series, we bring the spotlight to some of the remarkable women who work at Recordsure. We talk about their views on diversity and their experience of what it is like to be a woman in a prominently male industry. #### Joanne Smith, Founder Joanne is the Founder and Executive Chair at Recordsure and TCC, and a Chair CBI SME Council at Confederation of British Industry. When founding Recordsure, Joanne was driven by her vision for AI technology to solve finance industry compliance issues and protect customers. Joanne’s leadership drives inclusivity, the vision that is shared and promoted throughout Recordsure. Having a female founder, shaped the company’s culture, attracted female talent, and brought gender inclusivity to the organisation. Joanne is an inspiration for many Recordsure employees, irrespective of gender. I'm proud that Recordsure has created a positive, diverse working environment for all, employing a great number of brilliant women. Joanne Smith, Founder Driving the industry change outside Recordsure, Joanne also passionately supports female founders and is a serial investor in female-led tech businesses, addressing the 1% funding challenges of female entrepreneurs. **Joe Norburn, CEO at Recordsure**, also reflects on the positive changes in the industry: “The world has changed hugely in the 30 years since I started my career. I’ve been very fortunate to work in progressive and right-thinking organisations. I’ve had more female bosses than male, and that’s been nothing but a positive influence on me. While there is still more that needs to be done across sectors and workplaces, I do believe we are on the right path to make bias and gender stereotyping to become a thing of the past.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Challenging gender stereotypes, raising awareness against bias, be it conscious or unconscious, and taking proactive actions to ensure equality are the key themes of IWS 2021.\n\nThe technology industry is notoriously stereotyped as a male industry.\n\nAt Recordsure, we are a tech-based business focused on RegTech and FinTech. We use advanced Recordsure-built Artificial Intelligence technology and utilise sophisticated Machine Learning, Natural Language Processing and Robotic Process Automation to build unique Voice and Documents analytics products for regulatory industries. At Recordsure, we are also a proud employer of incredibly talented women.\n\nThe face of the technology industry is positively changing. Over the past decade, I have seen a significant rise in women entering the Tech industry, bringing diversity and breaking the stereotypes. Joanne Smith, Founder\n\nTo mark International Women\u2019s Day, Recordsure is taking the opportunity to celebrate female talent. This week, in our IWD-inspired blog series, we bring the spotlight to some of the remarkable women who work at Recordsure. We talk about their views on diversity and their experience of what it is like to be a woman in a prominently male industry.\n\nJoanne Smith, Founder\n\nJoanne is the Founder and Executive Chair at Recordsure and TCC, and a Chair CBI SME Council at Confederation of British Industry. When founding Recordsure, Joanne was driven by her vision for AI technology to solve finance industry compliance issues and protect customers.\n\nJoanne\u2019s leadership drives inclusivity, the vision that is shared and promoted throughout Recordsure. Having a female founder, shaped the company\u2019s culture, attracted female talent, and brought gender inclusivity to the organisation.\n\nJoanne is an inspiration for many Recordsure employees, irrespective of gender.\n\nI'm proud that Recordsure has created a positive, diverse working environment for all, employing a great number of brilliant women. Joanne Smith, Founder\n\nDriving the industry change outside Recordsure, Joanne also passionately supports female founders and is a serial investor in female-led tech businesses, addressing the 1% funding challenges of female entrepreneurs.\n\nJoe Norburn, CEO at Recordsure, also reflects on the positive changes in the industry:\n\n\u201cThe world has changed hugely in the 30 years since I started my career. I\u2019ve been very fortunate to work in progressive and right-thinking organisations. I\u2019ve had more female bosses than male, and that\u2019s been nothing but a positive influence on me.\n\nWhile there is still more that needs to be done across sectors and workplaces, I do believe we are on the right path to make bias and gender stereotyping to become a thing of the past.\u201d", "wordCount": 450, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Women in technology" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#webpage" }, "inLanguage": "en-GB", "text": "International Women\u2019s Day is a wonderful opportunity to celebrate the incredible achievements of women \u2013 throughout history and today. Challenging gender stereotypes, raising awareness against bias, be it conscious or unconscious, and taking proactive actions to ensure equality are the key themes of IWS 2021.\n\nThe technology industry is notoriously stereotyped as a male industry.\n\nAt Recordsure, we are a tech-based business focused on RegTech and FinTech. We use advanced Recordsure-built Artificial Intelligence technology and utilise sophisticated Machine Learning, Natural Language Processing and Robotic Process Automation to build unique Voice and Documents analytics products for regulatory industries. At Recordsure, we are also a proud employer of incredibly talented women.\n\nThe face of the technology industry is positively changing. Over the past decade, I have seen a significant rise in women entering the Tech industry, bringing diversity and breaking the stereotypes. Joanne Smith, Founder\n\nTo mark International Women\u2019s Day, Recordsure is taking the opportunity to celebrate female talent. This week, in our IWD-inspired blog series, we bring the spotlight to some of the remarkable women who work at Recordsure. We talk about their views on diversity and their experience of what it is like to be a woman in a prominently male industry." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#webpage" }, "inLanguage": "en-GB", "headline": "Joanne Smith, Founder", "text": "Joanne is the Founder and Executive Chair at Recordsure and TCC, and a Chair CBI SME Council at Confederation of British Industry. When founding Recordsure, Joanne was driven by her vision for AI technology to solve finance industry compliance issues and protect customers.\n\nJoanne\u2019s leadership drives inclusivity, the vision that is shared and promoted throughout Recordsure. Having a female founder, shaped the company\u2019s culture, attracted female talent, and brought gender inclusivity to the organisation.\n\nJoanne is an inspiration for many Recordsure employees, irrespective of gender.\n\nI'm proud that Recordsure has created a positive, diverse working environment for all, employing a great number of brilliant women. Joanne Smith, Founder\n\nDriving the industry change outside Recordsure, Joanne also passionately supports female founders and is a serial investor in female-led tech businesses, addressing the 1% funding challenges of female entrepreneurs.\n\nJoe Norburn, CEO at Recordsure, also reflects on the positive changes in the industry:\n\n\u201cThe world has changed hugely in the 30 years since I started my career. I\u2019ve been very fortunate to work in progressive and right-thinking organisations. I\u2019ve had more female bosses than male, and that\u2019s been nothing but a positive influence on me.\n\nWhile there is still more that needs to be done across sectors and workplaces, I do believe we are on the right path to make bias and gender stereotyping to become a thing of the past.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/in-the-spotlight-remarkable-women-of-recordsure/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is International Women\u2019s Day relevant to Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "International Women\u2019s Day is an opportunity to celebrate female talent and discuss gender bias, diversity and inclusion." } }, { "@type": "Question", "name": "How does Recordsure describe its work?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure is a RegTech and FinTech business using AI and related technologies for regulated industries." } }, { "@type": "Question", "name": "Who is Joanne Smith?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith is Founder and Executive Chair at Recordsure and TCC, and a Chair CBI SME Council." } }, { "@type": "Question", "name": "How does leadership shape Recordsure\u2019s culture?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith\u2019s leadership drives inclusivity, attracts female talent and supports gender inclusivity across the organisation." } } ] } ] } ``` ### Recordsure, a finalist at #AccelerateR 2021 Pitchfest - URL: https://recordsure.com/insights/news/recordsure-a-finalist-at-accelerater-2021-pitchfest/ - Published: 2021-03-01 - Modified: 2026-10-09 **Topic:** Pitchfest finalist Recordsure was selected as a finalist at #AccelerateR 2021 Pitchfest, part of #ACCELERATERegTech2021. The event was hosted by The RegTech Association and Commonwealth Bank on 25 March 2021. #### Key points - Recordsure was a finalist at #AccelerateR 2021 Pitchfest. - Pitchfest formed part of the #ACCELERATERegTech2021 event. - The event was hosted by The RegTech Association and Commonwealth Bank. Recordsure was named one of the finalists at #AccelerateR 2021 Pitchfest as part of the [#ACCELERATERegTech2021](https://www.regtech.org.au/accelerate2021) event on 25 March 2021. Pitchfest was hosted by The RegTech Association and Commonwealth Bank. #### Supporting sources - [#ACCELERATERegTech2021](https://www.regtech.org.au/accelerate2021) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The independent review set out a plan for the UK to retain its global FinTech leadership. #### Key points - The Kalifa Review was published on 26 February 2021. - The review sets out a plan for UK FinTech leadership. - It focuses on scaling firms, talent, finance and better financial services. - Recordsure’s case study appears on page 28. An independent review for the [UK FinTech industry, Kalifa Review, was published on 26 February 2021](https://www.gov.uk/government/news/uks-global-fintech-leadership-bolstered-by-new-review), setting out a plan for the UK to retain its global leadership in FinTech by helping the country’s financial technology firms to scale up, access the talent and finance they need, and deliver better financial services. We are delighted to be showcased within [the Kalifa Review](https://www.gov.uk/government/publications/the-kalifa-review-of-uk-fintech), our case study appears on page 28. #### Supporting sources - [UK FinTech leadership review announcement](https://www.gov.uk/government/news/uks-global-fintech-leadership-bolstered-by-new-review) - [The Kalifa Review of UK FinTech](https://www.gov.uk/government/publications/the-kalifa-review-of-uk-fintech) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Automation can support best practice for financial advisers. #### Key points - Automation is the next step for financial firms. - RegTech automation matters for financial services. - Automation supports best practice for financial advisers. - Covid-19 increased technology use in financial businesses. Recordsure’s Joe Norburn, CEO, set out the need for RegTech automation with IFA Magazine. RegTech automation in the financial sector is critical for ensuring best practice by financial advisers. > Whilst Covid-19 has ratcheted up the use of technology in financial businesses, now is the time for firms to integrate innovative RegTech solutions to ensure future success. #### Supporting sources - [Automation the next step for financial advisers](https://ifamagazine.com/article/automation-the-next-step-for-financial-advisers/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Can financial firms use social media and stay compliant? Recordsure’s Steven Hewlett-Light and TCC’s Juana Diaz shared views with FT Adviser on how to use new communication channels such as WhatsApp while ensuring regulatory compliance. #### Supporting sources - [FT Adviser](https://www.ftadviser.com/your-industry/2021/01/21/how-to-manage-your-social-media-risks/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The RegTech100 selection recognised market investment, compliance pressure and Recordsure’s voice and document analytics work. #### Key points - Recordsure was named one of the Top 100 RegTech companies in the world for 2021. - The RegTech100 recognises technology providers addressing regulatory pressure in financial services. - RegTech Analyst reported more than $5bn invested in RegTech companies in 2020. - More than 1,000 companies were long-listed before the top 100 finalists were selected. - Recordsure’s products support voice and document analytics for regulated financial services firms. Recordsure was named one of the Top 100 Regulatory Technology (RegTech) companies in the world for 2021. The RegTech100 list, announced by specialist research firm RegTech Analyst, recognises technology solution providers that address the challenges of dealing with regulatory pressures within financial services. Joe Norburn, CEO at Recordsure, said the recognition reflected Recordsure’s commitment to innovation and its approach to solving real challenges for regulated businesses. #### RegTech market and selection process Recordsure says it understands the challenges banks and other financial institutions face every day. Its [voice](/technology/conversation-intelligence/) and [document analytics](/technology/document-intelligence/) products were engineered to help clients with regulatory requirements, avoid compliance risks and stay competitive. RegTech Analyst reported significant growth in the Regulatory Technology industry in recent years. More than $5bn had been invested in RegTech companies so far in 2020, driven by compliance challenges worsened by the shift to remote working. With more than 1,000 long-listed companies, competition was stronger than ever. A panel of analysts and industry experts voted for the top 100 finalists based on their innovative use of technology to solve a significant industry problem or generate efficiency improvements across compliance functions. The complete RegTech100 list was available [here](https://fintech.global/regtech100/). #### Voice and document analytics Recordsure’s voice and document analytics tools are built on financial services, customer care and compliance knowledge. Because the language of compliance is unique, Recordsure says it invested in technologies founded on Artificial Intelligence (AI) to decode the context of conversations and communications. Recordsure’s specialised software can handle the complexity of information frequently found in financial services. #### Supporting sources - [RegTech100](https://fintech.global/regtech100/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The RegTech100 selection recognised market investment, compliance pressure and Recordsure\u2019s voice and document analytics work.\n\nRecordsure was named one of the Top 100 Regulatory Technology (RegTech) companies in the world for 2021.\n\nThe RegTech100 list, announced by specialist research firm RegTech Analyst, recognises technology solution providers that address the challenges of dealing with regulatory pressures within financial services.\n\nJoe Norburn, CEO at Recordsure, said the recognition reflected Recordsure\u2019s commitment to innovation and its approach to solving real challenges for regulated businesses.\n\nRegTech market and selection process\n\nRecordsure says it understands the challenges banks and other financial institutions face every day. Its voice and document analytics products were engineered to help clients with regulatory requirements, avoid compliance risks and stay competitive.\n\nRegTech Analyst reported significant growth in the Regulatory Technology industry in recent years. More than $5bn had been invested in RegTech companies so far in 2020, driven by compliance challenges worsened by the shift to remote working.\n\nWith more than 1,000 long-listed companies, competition was stronger than ever. A panel of analysts and industry experts voted for the top 100 finalists based on their innovative use of technology to solve a significant industry problem or generate efficiency improvements across compliance functions.\n\nThe complete RegTech100 list was available here.\n\nVoice and document analytics\n\nRecordsure\u2019s voice and document analytics tools are built on financial services, customer care and compliance knowledge. Because the language of compliance is unique, Recordsure says it invested in technologies founded on Artificial Intelligence (AI) to decode the context of conversations and communications.\n\nRecordsure\u2019s specialised software can handle the complexity of information frequently found in financial services.", "wordCount": 284, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "RegTech100 listing" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "RegTech100", "url": "https://fintech.global/regtech100/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was named one of the Top 100 Regulatory Technology (RegTech) companies in the world for 2021.\n\nThe RegTech100 list, announced by specialist research firm RegTech Analyst, recognises technology solution providers that address the challenges of dealing with regulatory pressures within financial services.\n\nJoe Norburn, CEO at Recordsure, said the recognition reflected Recordsure\u2019s commitment to innovation and its approach to solving real challenges for regulated businesses." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "RegTech market and selection process", "text": "Recordsure says it understands the challenges banks and other financial institutions face every day. Its voice and document analytics products were engineered to help clients with regulatory requirements, avoid compliance risks and stay competitive.\n\nRegTech Analyst reported significant growth in the Regulatory Technology industry in recent years. More than $5bn had been invested in RegTech companies so far in 2020, driven by compliance challenges worsened by the shift to remote working.\n\nWith more than 1,000 long-listed companies, competition was stronger than ever. A panel of analysts and industry experts voted for the top 100 finalists based on their innovative use of technology to solve a significant industry problem or generate efficiency improvements across compliance functions.\n\nThe complete RegTech100 list was available here." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Voice and document analytics", "text": "Recordsure\u2019s voice and document analytics tools are built on financial services, customer care and compliance knowledge. Because the language of compliance is unique, Recordsure says it invested in technologies founded on Artificial Intelligence (AI) to decode the context of conversations and communications.\n\nRecordsure\u2019s specialised software can handle the complexity of information frequently found in financial services." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-listed-in-regtech100-for-2021-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What list recognised Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was named in the RegTech100 list for 2021." } }, { "@type": "Question", "name": "What does the RegTech100 recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognises technology providers that address regulatory pressures within financial services." } }, { "@type": "Question", "name": "How many companies were long-listed?", "acceptedAnswer": { "@type": "Answer", "text": "More than 1,000 companies were long-listed." } }, { "@type": "Question", "name": "What market investment figure is cited?", "acceptedAnswer": { "@type": "Answer", "text": "More than $5bn had been invested in RegTech companies so far in 2020." } } ] } ] } ``` ### Why wealth managers need tech to become sustainable in a post-pandemic world - URL: https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/ - Published: 2020-11-04 - Modified: 2026-10-09 **Topic:** Wealth technology The pandemic increased pressure on wealth managers to work more efficiently while maintaining client experience. Carefully chosen technology can reduce administration without removing human advice. #### Key points - Demand shocks and market falls intensified pressure on wealth and advice firms after the first lockdown. - Firms need to identify inefficient activities before building a case for automation. - Post-meeting administration is a key target because it does not disappear when clients use more digital tools. **At the beginning of the first lockdown, many financial services firms experienced a spike in calls as many clients were looking for reassurance in the uncertain times. However, after this initial rise, many wealth management and financial services firms have experienced major drops in business. Some firms are experiencing a drop in demand with companies noting a [60%](https://citywire.co.uk/new-model-adviser/news/succession-furloughs-100-staff-and-warns-of-60-new-business-drop/a1347442) drop in new business on their Q2 forecasts, which is not surprising since the FTSE 100 closed 7.7% lower on the 9th March compared to the previous year.** Whilst many predict the sector will recuperate from this drop, it will not be a quick recovery. During this period, firms need to seek alternative ways to reduce their costs whilst proving they can quickly and smoothly move with rapidly evolving technology demands. And successful firms will need to find a way to do so without detracting from the overall client experience. In an industry that has tended to pride itself on client loyalty, the test now will be how clients perceive the firm’s loyalty to them. Where once it was possible for an adviser to meet the client wherever they preferred, it will be interesting to see how far that service level can stretch as critical technology choices are made that define the client experience in a way that is less easily tailored to each individual client. #### Identify to innovate To begin, firms need to establish which of their activities are the least efficient. Revenue in wealth management has long been tied to how much time an adviser spends with clients. According to [research](https://www.kitces.com/blog/how-do-financial-advisors-spend-time-research-study-productivity-capacity-efficiency/#:~:text=From%20there%2C%20advisors%20spend%20an,on%20management%20and%20other%20responsibilities.), only 26 hours a week is spent directly on client activity, the rest of the time is divided between activities such as business development, professional development and administration. Of course, many of these are essential to the role. Since the financial crisis of 2008 however, many wealth management firms have steadily decreased support staff ratios, with varying degrees of success in implementing technology platforms that aimed to automate and simplify the write up of financial advice. Many financial firms may be unaware as to just how much time continues to be lost in administration, with some research stating an average of 24 hours each week per adviser or paraplanner. Firms are now embracing a more digital approach but understanding where improvements can be made is often difficult and involves a long research process to develop a business case. There are interactive tools available, such as our time saving calculator, help determine how many hours are being lost, based on a firm’s specific structure. This allows firms to visualise areas where enhancements can be made and understanding where automation can do the heavy lifting. It also provides data that can be used when calculating a ROI or developing a business case. #### Adapting practices Some firms have begun to provide tools and systems for clients to share documentation with the adviser ahead of the meeting, as a more secure alternative to email and in an effort to speed up meeting times. Others are providing tools that guide clients through the advice process itself, eliminating the need for a fact-finding meeting at all and getting to a faster recommendation. Certainly, such tools can provide clients with a more streamlined experience, but so much of wealth management has often been the craft of the adviser to draw out the more nuanced needs and objectives of the client. Are new business opportunities being lost by replacing the adviser with more scripted tools? And at what cost to the client experience? Retail banking has long since disintermediated the banker from the relationship, commoditising its services to the point where price has become the primary driver of choice for customers. With less demand for face-to-face meetings, might it be that wealth management is now beginning to see an acceleration of a trend that many have feared has been coming for some time? And is this really where the inefficiencies of giving financial advice are? Post-meeting administration can consist of manually transcribing client conversations, creating post-meeting summaries, developing recommendation documentation and filling in product application forms. These activities do not necessarily disappear just because the client can provide more of the details themselves. #### The right tool for the job Sophisticated automation can remove or drastically reduce the time spent on post-meeting activities, leaving more time to be dedicated to direct client activity. For example, speech recognition software, such as our [Capture](/technology/conversation-intelligence/) solution, not only removes the need for writing up meeting notes, but also the need to manually take notes in the meeting at all. This allows for a more natural conversation to take place which, when combined with the increasing requirement to hold meetings over video conferencing tools like Teams or Zoom, allows the adviser to be more present in the meeting. These tools highlight key facts from client meetings such as personal details, assets, income or even needs and objectives. This data is available to both the adviser and paraplanners alike, making post-meeting administration a much more efficient process. This more accurate view of client data means no detail is missed and less time is lost referring back to handwritten notes, or the clients themselves, for clarification. One of the challenges with recording meetings that take place over Zoom, Teams and Skype is that the method of recording and analysing the conversation is often tied into the call platform itself. These tools are good for general conversations but as a reliable method of creating an audit trail for a highly regulated business? Here they are often found wanting. Relying on the platform itself to provide such tools also limits the adviser’s flexibility, requiring the client to adopt whatever the adviser is allowed to use. Hardly a digital replication of the traditional face-to-face model where the adviser is free to go wherever the client is wants to meet. Many of these tools have existed for some time however, it is with the emergence of focused FinTech and RegTech businesses over the past five years or so that these tools have started to become highly tailored to the financial services sector. These technology solutions are designed to integrate with firms’ existing processes and practises, tuned specifically to accurately reflect and capture the nuanced products and services being offered to clients. An ecosystem of tools and solutions is evolving to meet the demands of the wealth management industry; understanding and choosing the right mix of solutions is critical to ensuring that efficiency gains are realised without putting the client experience at risk. In an already competitive market, this pandemic has only increased pressure for firms to become more efficient and ensure they offer a service that outpaces their competitors. The importance of client experience in this environment cannot be underestimated. As digital tools become ever more prevalent in the advice process, it will be those firms that weave such technology into a cohesive, engaging and holistic set of interactions that enhance the human touchpoints in the process that will ultimately win the day. #### Supporting sources - [Citywire report on Succession new business forecast](https://citywire.co.uk/new-model-adviser/news/succession-furloughs-100-staff-and-warns-of-60-new-business-drop/a1347442) - [Kitces research on adviser time use](https://www.kitces.com/blog/how-do-financial-advisors-spend-time-research-study-productivity-capacity-efficiency/#:~:text=From%20there%2C%20advisors%20spend%20an,on%20management%20and%20other%20responsibilities.) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why wealth managers need tech to become sustainable in a post-pandemic world", "item": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/", "name": "Why wealth managers need tech to become sustainable in a post-pandemic world", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-11-04T15:48:10+00:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why wealth managers need tech to become sustainable in a post-pandemic world", "datePublished": "2020-11-04T15:48:10+00:00", "dateModified": "2026-10-09T04:50:24+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/7ecf500ece594bec81b4c3e3180bf421/thumbnail-1024-079f98bd2c78e2e018548b0a86cbd9454d996129ac6f2e914a66bbf8f44e0b16.jpg", "description": "Wealth managers face pressure to improve efficiency without weakening client relationships, especially where automation can reduce administration and protect advice quality.", "inLanguage": "en-GB", "articleBody": "The pandemic increased pressure on wealth managers to work more efficiently while maintaining client experience. Carefully chosen technology can reduce administration without removing human advice.\n\nAt the beginning of the first lockdown, many financial services firms experienced a spike in calls as many clients were looking for reassurance in the uncertain times. However, after this initial rise, many wealth management and financial services firms have experienced major drops in business. Some firms are experiencing a drop in demand with companies noting a 60% drop in new business on their Q2 forecasts, which is not surprising since the FTSE 100 closed 7.7% lower on the 9th March compared to the previous year.\n\nWhilst many predict the sector will recuperate from this drop, it will not be a quick recovery. During this period, firms need to seek alternative ways to reduce their costs whilst proving they can quickly and smoothly move with rapidly evolving technology demands. And successful firms will need to find a way to do so without detracting from the overall client experience.\n\nIn an industry that has tended to pride itself on client loyalty, the test now will be how clients perceive the firm\u2019s loyalty to them. Where once it was possible for an adviser to meet the client wherever they preferred, it will be interesting to see how far that service level can stretch as critical technology choices are made that define the client experience in a way that is less easily tailored to each individual client.\n\nIdentify to innovate\n\nTo begin, firms need to establish which of their activities are the least efficient. Revenue in wealth management has long been tied to how much time an adviser spends with clients. According to research, only 26 hours a week is spent directly on client activity, the rest of the time is divided between activities such as business development, professional development and administration.\n\nOf course, many of these are essential to the role. Since the financial crisis of 2008 however, many wealth management firms have steadily decreased support staff ratios, with varying degrees of success in implementing technology platforms that aimed to automate and simplify the write up of financial advice. Many financial firms may be unaware as to just how much time continues to be lost in administration, with some research stating an average of 24 hours each week per adviser or paraplanner.\n\nFirms are now embracing a more digital approach but understanding where improvements can be made is often difficult and involves a long research process to develop a business case. There are interactive tools available, such as our time saving calculator, help determine how many hours are being lost, based on a firm\u2019s specific structure. This allows firms to visualise areas where enhancements can be made and understanding where automation can do the heavy lifting. It also provides data that can be used when calculating a ROI or developing a business case.\n\nAdapting practices\n\nSome firms have begun to provide tools and systems for clients to share documentation with the adviser ahead of the meeting, as a more secure alternative to email and in an effort to speed up meeting times. Others are providing tools that guide clients through the advice process itself, eliminating the need for a fact-finding meeting at all and getting to a faster recommendation.\n\nCertainly, such tools can provide clients with a more streamlined experience, but so much of wealth management has often been the craft of the adviser to draw out the more nuanced needs and objectives of the client. Are new business opportunities being lost by replacing the adviser with more scripted tools?\n\nAnd at what cost to the client experience? Retail banking has long since disintermediated the banker from the relationship, commoditising its services to the point where price has become the primary driver of choice for customers. With less demand for face-to-face meetings, might it be that wealth management is now beginning to see an acceleration of a trend that many have feared has been coming for some time?\n\nAnd is this really where the inefficiencies of giving financial advice are? Post-meeting administration can consist of manually transcribing client conversations, creating post-meeting summaries, developing recommendation documentation and filling in product application forms. These activities do not necessarily disappear just because the client can provide more of the details themselves.\n\nThe right tool for the job\n\nSophisticated automation can remove or drastically reduce the time spent on post-meeting activities, leaving more time to be dedicated to direct client activity. For example, speech recognition software, such as our Capture solution, not only removes the need for writing up meeting notes, but also the need to manually take notes in the meeting at all. This allows for a more natural conversation to take place which, when combined with the increasing requirement to hold meetings over video conferencing tools like Teams or Zoom, allows the adviser to be more present in the meeting.\n\nThese tools highlight key facts from client meetings such as personal details, assets, income or even needs and objectives. This data is available to both the adviser and paraplanners alike, making post-meeting administration a much more efficient process. This more accurate view of client data means no detail is missed and less time is lost referring back to handwritten notes, or the clients themselves, for clarification.\n\nOne of the challenges with recording meetings that take place over Zoom, Teams and Skype is that the method of recording and analysing the conversation is often tied into the call platform itself. These tools are good for general conversations but as a reliable method of creating an audit trail for a highly regulated business? Here they are often found wanting. Relying on the platform itself to provide such tools also limits the adviser\u2019s flexibility, requiring the client to adopt whatever the adviser is allowed to use. Hardly a digital replication of the traditional face-to-face model where the adviser is free to go wherever the client is wants to meet.\n\nMany of these tools have existed for some time however, it is with the emergence of focused FinTech and RegTech businesses over the past five years or so that these tools have started to become highly tailored to the financial services sector. These technology solutions are designed to integrate with firms\u2019 existing processes and practises, tuned specifically to accurately reflect and capture the nuanced products and services being offered to clients. An ecosystem of tools and solutions is evolving to meet the demands of the wealth management industry; understanding and choosing the right mix of solutions is critical to ensuring that efficiency gains are realised without putting the client experience at risk.\n\nIn an already competitive market, this pandemic has only increased pressure for firms to become more efficient and ensure they offer a service that outpaces their competitors. The importance of client experience in this environment cannot be underestimated. As digital tools become ever more prevalent in the advice process, it will be those firms that weave such technology into a cohesive, engaging and holistic set of interactions that enhance the human touchpoints in the process that will ultimately win the day.", "wordCount": 1190, "keywords": [ "Banking", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth technology" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Citywire report on Succession new business forecast", "url": "https://citywire.co.uk/new-model-adviser/news/succession-furloughs-100-staff-and-warns-of-60-new-business-drop/a1347442" }, { "@type": "CreativeWork", "name": "Kitces research on adviser time use", "url": "https://www.kitces.com/blog/how-do-financial-advisors-spend-time-research-study-productivity-capacity-efficiency/#:~:text=From%20there%2C%20advisors%20spend%20an,on%20management%20and%20other%20responsibilities." } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "inLanguage": "en-GB", "text": "At the beginning of the first lockdown, many financial services firms experienced a spike in calls as many clients were looking for reassurance in the uncertain times. However, after this initial rise, many wealth management and financial services firms have experienced major drops in business. Some firms are experiencing a drop in demand with companies noting a 60% drop in new business on their Q2 forecasts, which is not surprising since the FTSE 100 closed 7.7% lower on the 9th March compared to the previous year.\n\nWhilst many predict the sector will recuperate from this drop, it will not be a quick recovery. During this period, firms need to seek alternative ways to reduce their costs whilst proving they can quickly and smoothly move with rapidly evolving technology demands. And successful firms will need to find a way to do so without detracting from the overall client experience.\n\nIn an industry that has tended to pride itself on client loyalty, the test now will be how clients perceive the firm\u2019s loyalty to them. Where once it was possible for an adviser to meet the client wherever they preferred, it will be interesting to see how far that service level can stretch as critical technology choices are made that define the client experience in a way that is less easily tailored to each individual client." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "inLanguage": "en-GB", "headline": "Identify to innovate", "text": "To begin, firms need to establish which of their activities are the least efficient. Revenue in wealth management has long been tied to how much time an adviser spends with clients. According to research, only 26 hours a week is spent directly on client activity, the rest of the time is divided between activities such as business development, professional development and administration.\n\nOf course, many of these are essential to the role. Since the financial crisis of 2008 however, many wealth management firms have steadily decreased support staff ratios, with varying degrees of success in implementing technology platforms that aimed to automate and simplify the write up of financial advice. Many financial firms may be unaware as to just how much time continues to be lost in administration, with some research stating an average of 24 hours each week per adviser or paraplanner.\n\nFirms are now embracing a more digital approach but understanding where improvements can be made is often difficult and involves a long research process to develop a business case. There are interactive tools available, such as our time saving calculator, help determine how many hours are being lost, based on a firm\u2019s specific structure. This allows firms to visualise areas where enhancements can be made and understanding where automation can do the heavy lifting. It also provides data that can be used when calculating a ROI or developing a business case." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "inLanguage": "en-GB", "headline": "Adapting practices", "text": "Some firms have begun to provide tools and systems for clients to share documentation with the adviser ahead of the meeting, as a more secure alternative to email and in an effort to speed up meeting times. Others are providing tools that guide clients through the advice process itself, eliminating the need for a fact-finding meeting at all and getting to a faster recommendation.\n\nCertainly, such tools can provide clients with a more streamlined experience, but so much of wealth management has often been the craft of the adviser to draw out the more nuanced needs and objectives of the client. Are new business opportunities being lost by replacing the adviser with more scripted tools?\n\nAnd at what cost to the client experience? Retail banking has long since disintermediated the banker from the relationship, commoditising its services to the point where price has become the primary driver of choice for customers. With less demand for face-to-face meetings, might it be that wealth management is now beginning to see an acceleration of a trend that many have feared has been coming for some time?\n\nAnd is this really where the inefficiencies of giving financial advice are? Post-meeting administration can consist of manually transcribing client conversations, creating post-meeting summaries, developing recommendation documentation and filling in product application forms. These activities do not necessarily disappear just because the client can provide more of the details themselves." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "inLanguage": "en-GB", "headline": "The right tool for the job", "text": "Sophisticated automation can remove or drastically reduce the time spent on post-meeting activities, leaving more time to be dedicated to direct client activity. For example, speech recognition software, such as our Capture solution, not only removes the need for writing up meeting notes, but also the need to manually take notes in the meeting at all. This allows for a more natural conversation to take place which, when combined with the increasing requirement to hold meetings over video conferencing tools like Teams or Zoom, allows the adviser to be more present in the meeting.\n\nThese tools highlight key facts from client meetings such as personal details, assets, income or even needs and objectives. This data is available to both the adviser and paraplanners alike, making post-meeting administration a much more efficient process. This more accurate view of client data means no detail is missed and less time is lost referring back to handwritten notes, or the clients themselves, for clarification.\n\nOne of the challenges with recording meetings that take place over Zoom, Teams and Skype is that the method of recording and analysing the conversation is often tied into the call platform itself. These tools are good for general conversations but as a reliable method of creating an audit trail for a highly regulated business? Here they are often found wanting. Relying on the platform itself to provide such tools also limits the adviser\u2019s flexibility, requiring the client to adopt whatever the adviser is allowed to use. Hardly a digital replication of the traditional face-to-face model where the adviser is free to go wherever the client is wants to meet.\n\nMany of these tools have existed for some time however, it is with the emergence of focused FinTech and RegTech businesses over the past five years or so that these tools have started to become highly tailored to the financial services sector. These technology solutions are designed to integrate with firms\u2019 existing processes and practises, tuned specifically to accurately reflect and capture the nuanced products and services being offered to clients. An ecosystem of tools and solutions is evolving to meet the demands of the wealth management industry; understanding and choosing the right mix of solutions is critical to ensuring that efficiency gains are realised without putting the client experience at risk.\n\nIn an already competitive market, this pandemic has only increased pressure for firms to become more efficient and ensure they offer a service that outpaces their competitors. The importance of client experience in this environment cannot be underestimated. As digital tools become ever more prevalent in the advice process, it will be those firms that weave such technology into a cohesive, engaging and holistic set of interactions that enhance the human touchpoints in the process that will ultimately win the day." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-need-tech-to-become-sustainable-in-a-post-pandemic-world/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why did the pandemic increase pressure on wealth managers?", "acceptedAnswer": { "@type": "Answer", "text": "Early call spikes, business drops and the need to reduce costs increased pressure while firms still had to maintain client experience." } }, { "@type": "Question", "name": "Where can firms look for efficiency gains?", "acceptedAnswer": { "@type": "Answer", "text": "Post-meeting administration is a key area, including transcription, summaries, recommendation documentation and application forms." } }, { "@type": "Question", "name": "Why should automation not replace the adviser relationship?", "acceptedAnswer": { "@type": "Answer", "text": "Wealth management often depends on advisers drawing out nuanced client needs and objectives, which scripted tools may not capture." } }, { "@type": "Question", "name": "What should firms consider when choosing tools?", "acceptedAnswer": { "@type": "Answer", "text": "They should choose solutions that integrate with existing processes, reflect financial-services products and protect client experience while improving efficiency." } } ] } ] } ``` ### Recordsure collaborates with Microsoft to transform client and adviser experience - URL: https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/ - Published: 2020-10-23 - Modified: 2026-10-09 **Topic:** Microsoft collaboration Recordsure’s collaboration with Microsoft accelerates transformation of client and adviser experience in financial services and similar regulated industries, with integration opportunities across compliance processes and risk management. #### Key points - Recordsure announced a collaboration with Microsoft for financial services and regulated industries. - The relationship is intended to make Recordsure solutions more accessible during increased digitisation. - Recordsure’s platform supports speech and document analytics, automation, compliance, customer care and culture. - The collaboration allows integration with Microsoft platforms such as Teams and Dynamics 365. Recordsure announced a collaboration with Microsoft to accelerate transformation of both client and adviser experience within financial services and similar regulated industries. Joe Norburn, CEO at Recordsure, said it was a crucial period for the market and the right time to announce the agreement with Microsoft. He said firms needed advanced RegTech solutions to deal with challenges forced on them by the pandemic, while disruption also made it difficult to innovate. By partnering with Microsoft, Recordsure aimed to bridge that gap and make its solutions more readily accessible to organisations that would benefit from increased digitisation. #### Platform and Microsoft integration Recordsure’s speech and document analytics platform provides analytics and automation solutions to financial services organisations and regulated sectors. Already available through Microsoft Azure Marketplace, the collaboration will allow Recordsure to integrate with other Microsoft platforms, including Microsoft Teams and Dynamics 365. Recordsure says it has insight into compliance process demands within financial services and has developed machine-learning and RPA technology to drive improved efficiency, reduced risk and better culture. #### Microsoft perspective Janet Jones, Head of Industry Strategy for UK Financial Services at Microsoft Corporation, said many financial firms were adjusting to increased customer demand, particularly through digital channels. She said Recordsure offers new options to help organisations with compliance and risk management. She also said companies can reshape their approach, resulting in improved customer outcomes and transparency in the market. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure collaborates with Microsoft to transform client and adviser experience", "item": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#webpage", "url": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/", "name": "Recordsure collaborates with Microsoft to transform client and adviser experience", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-10-23T10:37:57+01:00", "dateModified": "2022-07-19T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-07-19" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure collaborates with Microsoft to transform client and adviser experience", "datePublished": "2020-10-23T10:37:57+01:00", "dateModified": "2026-10-09T04:50:31+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/517aa8711caf4bca91cd81e1c9fb617b/thumbnail-640-d9ae89c28d80884029bc3ee2e86ce40198539fb33caa6762ca299c35d86107dc.jpg", "description": "Recordsure announced a Microsoft collaboration to support financial services firms with client and adviser experience, compliance, risk management and digital channels.", "inLanguage": "en-GB", "articleBody": "Recordsure\u2019s collaboration with Microsoft accelerates transformation of client and adviser experience in financial services and similar regulated industries, with integration opportunities across compliance processes and risk management.\n\nRecordsure announced a collaboration with Microsoft to accelerate transformation of both client and adviser experience within financial services and similar regulated industries.\n\nJoe Norburn, CEO at Recordsure, said it was a crucial period for the market and the right time to announce the agreement with Microsoft. He said firms needed advanced RegTech solutions to deal with challenges forced on them by the pandemic, while disruption also made it difficult to innovate. By partnering with Microsoft, Recordsure aimed to bridge that gap and make its solutions more readily accessible to organisations that would benefit from increased digitisation.\n\nPlatform and Microsoft integration\n\nRecordsure\u2019s speech and document analytics platform provides analytics and automation solutions to financial services organisations and regulated sectors.\n\nAlready available through Microsoft Azure Marketplace, the collaboration will allow Recordsure to integrate with other Microsoft platforms, including Microsoft Teams and Dynamics 365. Recordsure says it has insight into compliance process demands within financial services and has developed machine-learning and RPA technology to drive improved efficiency, reduced risk and better culture.\n\nMicrosoft perspective\n\nJanet Jones, Head of Industry Strategy for UK Financial Services at Microsoft Corporation, said many financial firms were adjusting to increased customer demand, particularly through digital channels. 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She said Recordsure offers new options to help organisations with compliance and risk management.\n\nShe also said companies can reshape their approach, resulting in improved customer outcomes and transparency in the market." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-collaborate-with-microsoft-to-transform-client-and-adviser-experience/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did Recordsure announce?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure announced a collaboration with Microsoft to accelerate transformation of client and adviser experience." } }, { "@type": "Question", "name": "Which sectors does the collaboration address?", "acceptedAnswer": { "@type": "Answer", "text": "The collaboration addresses financial services and similar regulated industries." } }, { "@type": "Question", "name": "Which Microsoft platforms are mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "The collaboration will allow integration with Microsoft Teams and Dynamics 365." } }, { "@type": "Question", "name": "What does Recordsure\u2019s platform support?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure\u2019s platform supports speech and document analytics, automation, compliance, customer care, risk management and culture." } } ] } ] } ``` ### A wealth manager’s guide to keeping office conduct and culture alive - URL: https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/ - Published: 2020-10-22 - Modified: 2026-10-09 **Topic:** Remote conduct Wealth managers can sustain culture, conduct and compliance in remote or hybrid working by using recorded interactions and practical oversight. #### Key points - Remote working can weaken culture, oversight and accountability if firms rely only on old office routines. - FCA commentary warns that managers may otherwise be left with narrow statistics. - Recording and transcription can support audit trails, self-review, team oversight and examples of good practice. - Digital hybrid solutions support long-term conduct and culture rather than short-term fixes. **When lockdown was announced, many people packed up their desks and set up shop at home. Offices provide a bustling atmosphere where employees can chat and collaborate, naturally creating a thriving culture.** When the office is removed from the equation, it can create a sense of disconnect. This isn’t just about technological infrastructure: companies need to re-create a community aspect of offices from individuals’ homes. As lockdown eases, there is a wide variety in how different organisations and even different teams are approaching returns to office life. For many, remote working will still be a dominant part of how firms will continue to operate. It is vital to adapt to the changing work environment as without a sense of togetherness and the necessary safeguards, staff morale can be drastically impacted and new compliance risks can emerge. #### Culture Each individual will be dealing with lockdown and remote-working differently. Some may see it as a pleasant change from lengthy commutes and constant travel whilst others may be climbing the walls, yearning to be back in the office. Many companies have spent years building the right internal culture, which is incredibly important for wealth management firms as the internal culture is reflected in how clients expect to be dealt with. Whether it is a highly regimented or a more free-flowing atmosphere, employees know what is expected of them when they enter the office, who they can expect to see and where they fit within the company. When that aspect is removed, it can be difficult for employees to maintain purpose and motivation. On the other hand, managers and supervisors run the risk of flying blind. As the [FCA](https://www.fca.org.uk/insight/conduct-culture-and-covid-19) highlights, take away the office environment where they can get a direct feel for what is going on around them and they are often left with just cold hard stats like sales figures to base judgements on. This runs the risk of limited decision making as deeper, more nuanced factors will not be taken into account. #### The compliance risks from remote working There are ways a home-working environment can potentially help contribute to compliance issues such as unsuitable advice, missing information in audit trails and in extreme cases even misconduct. As well as the potential lack of strong IT infrastructure compared to what is present in an office environment, remote working can create a sense of ‘out of sight, out of mind’, which can lead to some employees losing a sense of accountability. Many business leaders have considered ways to try and replicate the culture of the office for employees working remotely in order to maintain their regular levels of performance and conduct. Successful as this has been in many cases, it often ignores some of the longer term challenges firms were dealing with before lockdown. There is a strong argument that leaders should be ambitious and seek to do more than just maintain the status quo remotely. Before lockdown, many supervisors already spent less time with staff than they would like, making it harder to offer the level of support they ideally wanted. Having to travel long distances to attend meetings not only took up too many hours each week, but simply being in the room when a meeting took place meant they didn’t get a true reflection of the meeting: their presence would have an impact on the adviser’s behaviour, for instance putting them on edge or making them follow the book more than they would normally. Advisers struggled too: training was limited as it was difficult to see real-life examples of what perfect client care looked like. Time with managers was often too little and too infrequent. They also had the nagging worry that in the event of any disputes, incomplete records would leave them unable to evidence that they had consistently followed procedure. #### Thinking long term Forward-thinking firms were investigating ways that a strong technological infrastructure can help maintain performance, conduct and culture long before the pandemic hit. Leaders now have access to many FinTech and RegTech solutions designed to reduce risk in highly regulated sectors, many of which are as compatible with remote-working as they are with the office environment. Firms need to embrace digital hybrid solutions that can adapt to both face-to-face and remote ways of working. Take for example our auto-transcription tool, [Capture](/technology/conversation-intelligence/). This sophisticated form of automation can now record all customer interactions for a complete audit trail, transcribe conversations and document them for review, either by the advisers themselves as a form of self-review or by managers to ensure procedures are being met. Team leaders can also manage performance and cohesiveness throughout the team without interrupting the rhythm in the meeting room. They can use client conversations as a form of ‘best practice’ example to demonstrate to employees what good looks like. Setting up a scalable recording solution should be a priority for homeworkers. This is a measure that many firms have not yet adopted after making the shift from face-to-face meetings to video: not only does it help improve culture but it protects advisers and firms from remediation risks while offering a new level of transparency to clients. Savvy firms are also looking into how they can then use this information as a springboard for more sophisticated means, be it smart risk management, driving efficiencies or unearthing commercially valuable client insights. Remote-working and hybrid models are here to stay. Without the reliance on bustling offices and the constant interaction between employees to build a lively culture and ensure compliance, companies need to implement strategic changes. While it is natural to look for ways to mimic setups which were in place before the pandemic, the fact is that many organisations weren’t taking advantage of all the tools at their disposal before lockdown. Industry solutions which can support performance, conduct and culture will typically be just as well suited to remote workers as they are to the office environment. Leaders should not just be looking for short-term quick fixes, but to long-term modifications to the very way companies operate. #### Supporting sources - [FCA insight on conduct, culture and Covid-19](https://www.fca.org.uk/insight/conduct-culture-and-covid-19) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "A wealth manager\u2019s guide to keeping office conduct and culture alive", "item": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/", "name": "A wealth manager\u2019s guide to keeping office conduct and culture alive", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-10-22T14:23:00+01:00", "dateModified": "2020-11-04T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-11-04" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "A wealth manager\u2019s guide to keeping office conduct and culture alive", "datePublished": "2020-10-22T14:23:00+01:00", "dateModified": "2026-10-09T04:50:03+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bedcf05b14de4df6bd7e27ca1cd2267a/thumbnail-1024-a6019758765b21b54f465335aa1f30e59006eb2b42431f156e13c3196760f2ff.jpg", "description": "Wealth managers can sustain culture, conduct and compliance in remote or hybrid working by using recorded interactions and practical oversight.", "inLanguage": "en-GB", "articleBody": "Wealth managers can sustain culture, conduct and compliance in remote or hybrid working by using recorded interactions and practical oversight.\n\nWhen lockdown was announced, many people packed up their desks and set up shop at home. Offices provide a bustling atmosphere where employees can chat and collaborate, naturally creating a thriving culture.\n\nWhen the office is removed from the equation, it can create a sense of disconnect. This isn\u2019t just about technological infrastructure: companies need to re-create a community aspect of offices from individuals\u2019 homes. As lockdown eases, there is a wide variety in how different organisations and even different teams are approaching returns to office life. For many, remote working will still be a dominant part of how firms will continue to operate.\n\nIt is vital to adapt to the changing work environment as without a sense of togetherness and the necessary safeguards, staff morale can be drastically impacted and new compliance risks can emerge.\n\nCulture\n\nEach individual will be dealing with lockdown and remote-working differently. Some may see it as a pleasant change from lengthy commutes and constant travel whilst others may be climbing the walls, yearning to be back in the office.\n\nMany companies have spent years building the right internal culture, which is incredibly important for wealth management firms as the internal culture is reflected in how clients expect to be dealt with. Whether it is a highly regimented or a more free-flowing atmosphere, employees know what is expected of them when they enter the office, who they can expect to see and where they fit within the company. When that aspect is removed, it can be difficult for employees to maintain purpose and motivation.\n\nOn the other hand, managers and supervisors run the risk of flying blind. As the FCA highlights, take away the office environment where they can get a direct feel for what is going on around them and they are often left with just cold hard stats like sales figures to base judgements on. This runs the risk of limited decision making as deeper, more nuanced factors will not be taken into account.\n\nThe compliance risks from remote working\n\nThere are ways a home-working environment can potentially help contribute to compliance issues such as unsuitable advice, missing information in audit trails and in extreme cases even misconduct. As well as the potential lack of strong IT infrastructure compared to what is present in an office environment, remote working can create a sense of \u2018out of sight, out of mind\u2019, which can lead to some employees losing a sense of accountability.\n\nMany business leaders have considered ways to try and replicate the culture of the office for employees working remotely in order to maintain their regular levels of performance and conduct. Successful as this has been in many cases, it often ignores some of the longer term challenges firms were dealing with before lockdown. There is a strong argument that leaders should be ambitious and seek to do more than just maintain the status quo remotely.\n\nBefore lockdown, many supervisors already spent less time with staff than they would like, making it harder to offer the level of support they ideally wanted. Having to travel long distances to attend meetings not only took up too many hours each week, but simply being in the room when a meeting took place meant they didn\u2019t get a true reflection of the meeting: their presence would have an impact on the adviser\u2019s behaviour, for instance putting them on edge or making them follow the book more than they would normally.\n\nAdvisers struggled too: training was limited as it was difficult to see real-life examples of what perfect client care looked like. Time with managers was often too little and too infrequent. They also had the nagging worry that in the event of any disputes, incomplete records would leave them unable to evidence that they had consistently followed procedure.\n\nThinking long term\n\nForward-thinking firms were investigating ways that a strong technological infrastructure can help maintain performance, conduct and culture long before the pandemic hit. Leaders now have access to many FinTech and RegTech solutions designed to reduce risk in highly regulated sectors, many of which are as compatible with remote-working as they are with the office environment. Firms need to embrace digital hybrid solutions that can adapt to both face-to-face and remote ways of working.\n\nTake for example our auto-transcription tool, Capture. 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Savvy firms are also looking into how they can then use this information as a springboard for more sophisticated means, be it smart risk management, driving efficiencies or unearthing commercially valuable client insights.\n\nRemote-working and hybrid models are here to stay. Without the reliance on bustling offices and the constant interaction between employees to build a lively culture and ensure compliance, companies need to implement strategic changes. While it is natural to look for ways to mimic setups which were in place before the pandemic, the fact is that many organisations weren\u2019t taking advantage of all the tools at their disposal before lockdown. Industry solutions which can support performance, conduct and culture will typically be just as well suited to remote workers as they are to the office environment. Leaders should not just be looking for short-term quick fixes, but to long-term modifications to the very way companies operate.", "wordCount": 1022, "keywords": [ "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Remote conduct" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA insight on conduct, culture and Covid-19", "url": "https://www.fca.org.uk/insight/conduct-culture-and-covid-19" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "inLanguage": "en-GB", "text": "When lockdown was announced, many people packed up their desks and set up shop at home. Offices provide a bustling atmosphere where employees can chat and collaborate, naturally creating a thriving culture.\n\nWhen the office is removed from the equation, it can create a sense of disconnect. This isn\u2019t just about technological infrastructure: companies need to re-create a community aspect of offices from individuals\u2019 homes. As lockdown eases, there is a wide variety in how different organisations and even different teams are approaching returns to office life. For many, remote working will still be a dominant part of how firms will continue to operate.\n\nIt is vital to adapt to the changing work environment as without a sense of togetherness and the necessary safeguards, staff morale can be drastically impacted and new compliance risks can emerge." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "inLanguage": "en-GB", "headline": "Culture", "text": "Each individual will be dealing with lockdown and remote-working differently. Some may see it as a pleasant change from lengthy commutes and constant travel whilst others may be climbing the walls, yearning to be back in the office.\n\nMany companies have spent years building the right internal culture, which is incredibly important for wealth management firms as the internal culture is reflected in how clients expect to be dealt with. Whether it is a highly regimented or a more free-flowing atmosphere, employees know what is expected of them when they enter the office, who they can expect to see and where they fit within the company. When that aspect is removed, it can be difficult for employees to maintain purpose and motivation.\n\nOn the other hand, managers and supervisors run the risk of flying blind. As the FCA highlights, take away the office environment where they can get a direct feel for what is going on around them and they are often left with just cold hard stats like sales figures to base judgements on. This runs the risk of limited decision making as deeper, more nuanced factors will not be taken into account." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "inLanguage": "en-GB", "headline": "The compliance risks from remote working", "text": "There are ways a home-working environment can potentially help contribute to compliance issues such as unsuitable advice, missing information in audit trails and in extreme cases even misconduct. As well as the potential lack of strong IT infrastructure compared to what is present in an office environment, remote working can create a sense of \u2018out of sight, out of mind\u2019, which can lead to some employees losing a sense of accountability.\n\nMany business leaders have considered ways to try and replicate the culture of the office for employees working remotely in order to maintain their regular levels of performance and conduct. Successful as this has been in many cases, it often ignores some of the longer term challenges firms were dealing with before lockdown. There is a strong argument that leaders should be ambitious and seek to do more than just maintain the status quo remotely.\n\nBefore lockdown, many supervisors already spent less time with staff than they would like, making it harder to offer the level of support they ideally wanted. Having to travel long distances to attend meetings not only took up too many hours each week, but simply being in the room when a meeting took place meant they didn\u2019t get a true reflection of the meeting: their presence would have an impact on the adviser\u2019s behaviour, for instance putting them on edge or making them follow the book more than they would normally.\n\nAdvisers struggled too: training was limited as it was difficult to see real-life examples of what perfect client care looked like. Time with managers was often too little and too infrequent. They also had the nagging worry that in the event of any disputes, incomplete records would leave them unable to evidence that they had consistently followed procedure." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "inLanguage": "en-GB", "headline": "Thinking long term", "text": "Forward-thinking firms were investigating ways that a strong technological infrastructure can help maintain performance, conduct and culture long before the pandemic hit. Leaders now have access to many FinTech and RegTech solutions designed to reduce risk in highly regulated sectors, many of which are as compatible with remote-working as they are with the office environment. Firms need to embrace digital hybrid solutions that can adapt to both face-to-face and remote ways of working.\n\nTake for example our auto-transcription tool, Capture. This sophisticated form of automation can now record all customer interactions for a complete audit trail, transcribe conversations and document them for review, either by the advisers themselves as a form of self-review or by managers to ensure procedures are being met. Team leaders can also manage performance and cohesiveness throughout the team without interrupting the rhythm in the meeting room. They can use client conversations as a form of \u2018best practice\u2019 example to demonstrate to employees what good looks like.\n\nSetting up a scalable recording solution should be a priority for homeworkers. This is a measure that many firms have not yet adopted after making the shift from face-to-face meetings to video: not only does it help improve culture but it protects advisers and firms from remediation risks while offering a new level of transparency to clients. Savvy firms are also looking into how they can then use this information as a springboard for more sophisticated means, be it smart risk management, driving efficiencies or unearthing commercially valuable client insights.\n\nRemote-working and hybrid models are here to stay. Without the reliance on bustling offices and the constant interaction between employees to build a lively culture and ensure compliance, companies need to implement strategic changes. While it is natural to look for ways to mimic setups which were in place before the pandemic, the fact is that many organisations weren\u2019t taking advantage of all the tools at their disposal before lockdown. Industry solutions which can support performance, conduct and culture will typically be just as well suited to remote workers as they are to the office environment. Leaders should not just be looking for short-term quick fixes, but to long-term modifications to the very way companies operate." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-wealth-managers-guide-to-keeping-office-conduct-and-culture-alive/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What remote-working risks can firms face?", "acceptedAnswer": { "@type": "Answer", "text": "It identifies weaker culture, lower accountability, incomplete audit trails, unsuitable advice and possible misconduct." } }, { "@type": "Question", "name": "How can recording support managers?", "acceptedAnswer": { "@type": "Answer", "text": "It can create audit trails, support review and help managers monitor performance without interrupting meetings." } }, { "@type": "Question", "name": "What is the long-term recommendation?", "acceptedAnswer": { "@type": "Answer", "text": "Digital hybrid solutions can support both face-to-face and remote working." } } ] } ] } ``` ### Managing the financial challenge of COVID: The rising wave of debt management cases - URL: https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/ - Published: 2020-10-16 - Modified: 2026-10-09 **Topic:** Debt management COVID increased pressure on debt management operations and raised the stakes for vulnerable customers. Compassion, staff support and scalable monitoring are needed to evidence fair treatment. #### Key points - COVID increased pressure on debt management functions as support schemes ended and unemployment rose. - Customer circumstances in debt management are delicate and require compassion as well as operational control. - Rapid scale-ups can leave inexperienced staff handling complex customer situations without enough support. - Sample-based checking can miss systemic issues, unfair assessments and emerging remediation risk. - Smart monitoring can help evidence fair treatment at scale. Under normal circumstances, working with customers who are experiencing financial difficulty is one of the hardest parts of working in financial services. It’s hard for the customer, difficult for the staff who speak with them and challenging for the firm to balance fairness with commercial reality. But as furlough schemes come to an end, government-backed lending schemes fade away and unemployment rates skyrocket, the focus on Debt Management functions is only going to increase. Firms need to move quickly to find ways to care for their customers, support their staff and balance the books without increasing the risk of operations and the risk of future remedial action. #### The compassionate approach The financial crisis of 2008 is often rightly cited as one of the most difficult times for financial services, and the economy as a whole. But it isn’t the most difficult day I remember in my financial services career. That day was 7th July 2005. The day of the London bombings. I was working in a Collections and Recoveries contact centre operation that ran both an inbound and outbound telephony service. When the news broke about the bombings I happened to be sat near one of the senior operations managers. As someone who had recently been on the phones with customers, he turned to me and asked my opinion on whether he should suspend dialling operations. This was a multi-million-pound decision for the bank, a fact of which I was very much aware. My answer was simple. I wouldn’t want to be phoning someone about their credit card debt when they are trying to reach a loved one to find out if they were ok. That would be an awful customer experience and a terrible experience for me as an employee as well. I have no idea if what I said influenced the decision but we turned the dialler off that day and switched everyone to inbound-only. I have never before or since been prouder of the human side of financial services. There is a growing debt crisis looming on the horizon. Not just in the UK, but across the globe. People are losing their incomes and government-backed schemes designed to carry them through are coming to an end just as a second wave of COVID seems destined to hit. Unemployment rates are rising and this is a sure sign that credit-defaults will shortly skyrocket too. Lenders are rightly concerned. Mortgages are at risk, credit cards, secured and unsecured loans will go unrepaid at rates normally only associated with recession or depression-level events. No-one wants to repossess someone’s home but it’s an incredibly complex balance to manage. The firms I speak to remind me that things have changed since my days in a Debt Management function. Customers are treated far more fairly these days, with a greater appreciation for personal circumstances, wider debt and financial positions of the customer and understanding of potential vulnerability. The firms I speak to are as concerned, if not more so, by the potential impact on customer trust and advocacy as they are their own bottom line. Banks are ramping up their operations to cope with the increase in customers requiring debt management services. But scale-ups of this magnitude also risk inexperienced staff handling incredibly delicate and nuanced customer circumstances. The risk of getting it wrong is far more likely when the pressure is so intense, and you are new to the role. Like so many other large-scale operations, there remains a huge reliance on sample-based observation and checking methodologies. These are outmoded concepts and ultimately struggle to identify systemic issues in large operations. They also struggle to properly and accurately identify individual agent coaching needs and rely heavily on risk-based approaches. Only when someone has failed a check are they more comprehensively sampled. At which point, they know they’re being more frequently sampled. The implications are four-fold. The customer can be disadvantaged if their case isn’t handled appropriately, potentially going unmonitored until a complaint is made. The colleague can be unfairly assessed (both positively and negatively) based on random sampling of their interactions. The firm puts both their reputation and commercial position on the line with the threat of future remediation if found to have acted poorly. Finally, the banks themselves must account for customers in financial distress as part of their capital adequacy commitments. All this at a time when the stakes for customers couldn’t be higher. Take it from someone who has spoken to a single-mother of three children about how far over her credit limit she is, right after she lost her job. We are not talking about mortgages, loans and credit cards in the eyes of the customer. We are talking about their lives and their children’s lives. Their futures, and their children’s futures. There is no greater responsibility. I am reassured by the steps that the FCA and the major players in banking have taken over the years to better understand this complexity, to identify and better comprehend what vulnerability means. Customers mental, physical and emotional health are all factors when speaking to them about financial difficulty. But I worry for my former colleagues and those that do the role I once did because it is hard, and hard-wearing. They will never be busier than they are about to be and they need support. COVID has changed the way that our society operates for most of 2020. It seems likely that it will continue to do so into 2021 and who knows for how long afterwards. The financial ramifications will have a much longer tail. #### Proactive compliance How the Debt Management sector handles the coming few years will have implications not only for the reputations of their firms, or even the financial services industry, but for our society as a whole Technology can help these firms to drive better, more consistent outcomes for their customers. Doubling and tripling any workforce comes with incredible risk that, if not properly monitored and supported, leads to failures of process and poor outcomes for consumer and lender alike. Evidencing that you’ve treated the customer fairly, every time, at a scale that seems impossible is something that can only be achieved with smart, sophisticated monitoring and evaluation tools. I hope we do not see large remediation scandals in two-to-three years’ time. Because if that happens we will have collectively failed each other. It will mean that we have failed to recognise that unlike the financial crisis of 2008, there is no blame here. This isn’t about inappropriate lending. This isn’t PPI. This isn’t the customer’s fault either. This is a set of circumstances that have been wholly out of anyone’s control. And we really can afford to make sure everyone comes out the other end having been treated fairly. Steven Hewlett-Light, Head of Product, Recordsure > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Managing the financial challenge of COVID: The rising wave of debt management cases", "item": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/", "name": "Managing the financial challenge of COVID: The rising wave of debt management cases", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-10-16T15:48:15+01:00", "dateModified": "2020-10-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-10-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Managing the financial challenge of COVID: The rising wave of debt management cases", "datePublished": "2020-10-16T15:48:15+01:00", "dateModified": "2026-10-09T04:50:16+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f03c2ad231454e6bb1c0d242850b11d5/thumbnail-1024-ac5bc7bc2bfc3ac94c5f6f18a7e5426bfcc5b3c8b2635e3b2c030ca60a4136c8.jpg", "description": "COVID increased pressure on debt management operations and raised the stakes for vulnerable customers. Compassion, staff support and scalable monitoring are needed to evidence fair treatment.", "inLanguage": "en-GB", "articleBody": "COVID increased pressure on debt management operations and raised the stakes for vulnerable customers. Compassion, staff support and scalable monitoring are needed to evidence fair treatment.\n\nUnder normal circumstances, working with customers who are experiencing financial difficulty is one of the hardest parts of working in financial services. It\u2019s hard for the customer, difficult for the staff who speak with them and challenging for the firm to balance fairness with commercial reality. But as furlough schemes come to an end, government-backed lending schemes fade away and unemployment rates skyrocket, the focus on Debt Management functions is only going to increase.\n\nFirms need to move quickly to find ways to care for their customers, support their staff and balance the books without increasing the risk of operations and the risk of future remedial action.\n\nThe compassionate approach\n\nThe financial crisis of 2008 is often rightly cited as one of the most difficult times for financial services, and the economy as a whole. But it isn\u2019t the most difficult day I remember in my financial services career. That day was 7th July 2005. The day of the London bombings. I was working in a Collections and Recoveries contact centre operation that ran both an inbound and outbound telephony service.\n\nWhen the news broke about the bombings I happened to be sat near one of the senior operations managers. As someone who had recently been on the phones with customers, he turned to me and asked my opinion on whether he should suspend dialling operations. This was a multi-million-pound decision for the bank, a fact of which I was very much aware.\n\nMy answer was simple. I wouldn\u2019t want to be phoning someone about their credit card debt when they are trying to reach a loved one to find out if they were ok. That would be an awful customer experience and a terrible experience for me as an employee as well.\n\nI have no idea if what I said influenced the decision but we turned the dialler off that day and switched everyone to inbound-only. I have never before or since been prouder of the human side of financial services.\n\nThere is a growing debt crisis looming on the horizon. Not just in the UK, but across the globe. People are losing their incomes and government-backed schemes designed to carry them through are coming to an end just as a second wave of COVID seems destined to hit. Unemployment rates are rising and this is a sure sign that credit-defaults will shortly skyrocket too.\n\nLenders are rightly concerned. Mortgages are at risk, credit cards, secured and unsecured loans will go unrepaid at rates normally only associated with recession or depression-level events. No-one wants to repossess someone\u2019s home but it\u2019s an incredibly complex balance to manage.\n\nThe firms I speak to remind me that things have changed since my days in a Debt Management function. Customers are treated far more fairly these days, with a greater appreciation for personal circumstances, wider debt and financial positions of the customer and understanding of potential vulnerability. The firms I speak to are as concerned, if not more so, by the potential impact on customer trust and advocacy as they are their own bottom line.\n\nBanks are ramping up their operations to cope with the increase in customers requiring debt management services. But scale-ups of this magnitude also risk inexperienced staff handling incredibly delicate and nuanced customer circumstances. The risk of getting it wrong is far more likely when the pressure is so intense, and you are new to the role.\n\nLike so many other large-scale operations, there remains a huge reliance on sample-based observation and checking methodologies. These are outmoded concepts and ultimately struggle to identify systemic issues in large operations. They also struggle to properly and accurately identify individual agent coaching needs and rely heavily on risk-based approaches. Only when someone has failed a check are they more comprehensively sampled. At which point, they know they\u2019re being more frequently sampled.\n\nThe implications are four-fold. The customer can be disadvantaged if their case isn\u2019t handled appropriately, potentially going unmonitored until a complaint is made. The colleague can be unfairly assessed (both positively and negatively) based on random sampling of their interactions. The firm puts both their reputation and commercial position on the line with the threat of future remediation if found to have acted poorly. Finally, the banks themselves must account for customers in financial distress as part of their capital adequacy commitments.\n\nAll this at a time when the stakes for customers couldn\u2019t be higher.\n\nTake it from someone who has spoken to a single-mother of three children about how far over her credit limit she is, right after she lost her job. We are not talking about mortgages, loans and credit cards in the eyes of the customer. We are talking about their lives and their children\u2019s lives. Their futures, and their children\u2019s futures. There is no greater responsibility.\n\nI am reassured by the steps that the FCA and the major players in banking have taken over the years to better understand this complexity, to identify and better comprehend what vulnerability means. Customers mental, physical and emotional health are all factors when speaking to them about financial difficulty. But I worry for my former colleagues and those that do the role I once did because it is hard, and hard-wearing. They will never be busier than they are about to be and they need support.\n\nCOVID has changed the way that our society operates for most of 2020. It seems likely that it will continue to do so into 2021 and who knows for how long afterwards. The financial ramifications will have a much longer tail.\n\nProactive compliance\n\nHow the Debt Management sector handles the coming few years will have implications not only for the reputations of their firms, or even the financial services industry, but for our society as a whole\n\nTechnology can help these firms to drive better, more consistent outcomes for their customers. Doubling and tripling any workforce comes with incredible risk that, if not properly monitored and supported, leads to failures of process and poor outcomes for consumer and lender alike. Evidencing that you\u2019ve treated the customer fairly, every time, at a scale that seems impossible is something that can only be achieved with smart, sophisticated monitoring and evaluation tools.\n\nI hope we do not see large remediation scandals in two-to-three years\u2019 time. Because if that happens we will have collectively failed each other. It will mean that we have failed to recognise that unlike the financial crisis of 2008, there is no blame here. This isn\u2019t about inappropriate lending. This isn\u2019t PPI. This isn\u2019t the customer\u2019s fault either. This is a set of circumstances that have been wholly out of anyone\u2019s control. And we really can afford to make sure everyone comes out the other end having been treated fairly.\n\nSteven Hewlett-Light, Head of Product, Recordsure", "wordCount": 1157, "keywords": [ "Banking", "Government", "Lending and Credit" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Debt management" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Lending and Credit" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "inLanguage": "en-GB", "text": "Under normal circumstances, working with customers who are experiencing financial difficulty is one of the hardest parts of working in financial services. It\u2019s hard for the customer, difficult for the staff who speak with them and challenging for the firm to balance fairness with commercial reality. But as furlough schemes come to an end, government-backed lending schemes fade away and unemployment rates skyrocket, the focus on Debt Management functions is only going to increase.\n\nFirms need to move quickly to find ways to care for their customers, support their staff and balance the books without increasing the risk of operations and the risk of future remedial action." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "inLanguage": "en-GB", "headline": "The compassionate approach", "text": "The financial crisis of 2008 is often rightly cited as one of the most difficult times for financial services, and the economy as a whole. But it isn\u2019t the most difficult day I remember in my financial services career. That day was 7th July 2005. The day of the London bombings. I was working in a Collections and Recoveries contact centre operation that ran both an inbound and outbound telephony service.\n\nWhen the news broke about the bombings I happened to be sat near one of the senior operations managers. As someone who had recently been on the phones with customers, he turned to me and asked my opinion on whether he should suspend dialling operations. This was a multi-million-pound decision for the bank, a fact of which I was very much aware.\n\nMy answer was simple. I wouldn\u2019t want to be phoning someone about their credit card debt when they are trying to reach a loved one to find out if they were ok. That would be an awful customer experience and a terrible experience for me as an employee as well.\n\nI have no idea if what I said influenced the decision but we turned the dialler off that day and switched everyone to inbound-only. I have never before or since been prouder of the human side of financial services.\n\nThere is a growing debt crisis looming on the horizon. Not just in the UK, but across the globe. People are losing their incomes and government-backed schemes designed to carry them through are coming to an end just as a second wave of COVID seems destined to hit. Unemployment rates are rising and this is a sure sign that credit-defaults will shortly skyrocket too.\n\nLenders are rightly concerned. Mortgages are at risk, credit cards, secured and unsecured loans will go unrepaid at rates normally only associated with recession or depression-level events. No-one wants to repossess someone\u2019s home but it\u2019s an incredibly complex balance to manage.\n\nThe firms I speak to remind me that things have changed since my days in a Debt Management function. Customers are treated far more fairly these days, with a greater appreciation for personal circumstances, wider debt and financial positions of the customer and understanding of potential vulnerability. The firms I speak to are as concerned, if not more so, by the potential impact on customer trust and advocacy as they are their own bottom line.\n\nBanks are ramping up their operations to cope with the increase in customers requiring debt management services. But scale-ups of this magnitude also risk inexperienced staff handling incredibly delicate and nuanced customer circumstances. The risk of getting it wrong is far more likely when the pressure is so intense, and you are new to the role.\n\nLike so many other large-scale operations, there remains a huge reliance on sample-based observation and checking methodologies. These are outmoded concepts and ultimately struggle to identify systemic issues in large operations. They also struggle to properly and accurately identify individual agent coaching needs and rely heavily on risk-based approaches. Only when someone has failed a check are they more comprehensively sampled. At which point, they know they\u2019re being more frequently sampled.\n\nThe implications are four-fold. The customer can be disadvantaged if their case isn\u2019t handled appropriately, potentially going unmonitored until a complaint is made. The colleague can be unfairly assessed (both positively and negatively) based on random sampling of their interactions. The firm puts both their reputation and commercial position on the line with the threat of future remediation if found to have acted poorly. Finally, the banks themselves must account for customers in financial distress as part of their capital adequacy commitments.\n\nAll this at a time when the stakes for customers couldn\u2019t be higher.\n\nTake it from someone who has spoken to a single-mother of three children about how far over her credit limit she is, right after she lost her job. We are not talking about mortgages, loans and credit cards in the eyes of the customer. We are talking about their lives and their children\u2019s lives. Their futures, and their children\u2019s futures. There is no greater responsibility.\n\nI am reassured by the steps that the FCA and the major players in banking have taken over the years to better understand this complexity, to identify and better comprehend what vulnerability means. Customers mental, physical and emotional health are all factors when speaking to them about financial difficulty. But I worry for my former colleagues and those that do the role I once did because it is hard, and hard-wearing. They will never be busier than they are about to be and they need support.\n\nCOVID has changed the way that our society operates for most of 2020. It seems likely that it will continue to do so into 2021 and who knows for how long afterwards. The financial ramifications will have a much longer tail." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "inLanguage": "en-GB", "headline": "Proactive compliance", "text": "How the Debt Management sector handles the coming few years will have implications not only for the reputations of their firms, or even the financial services industry, but for our society as a whole\n\nTechnology can help these firms to drive better, more consistent outcomes for their customers. Doubling and tripling any workforce comes with incredible risk that, if not properly monitored and supported, leads to failures of process and poor outcomes for consumer and lender alike. Evidencing that you\u2019ve treated the customer fairly, every time, at a scale that seems impossible is something that can only be achieved with smart, sophisticated monitoring and evaluation tools.\n\nI hope we do not see large remediation scandals in two-to-three years\u2019 time. Because if that happens we will have collectively failed each other. It will mean that we have failed to recognise that unlike the financial crisis of 2008, there is no blame here. This isn\u2019t about inappropriate lending. This isn\u2019t PPI. This isn\u2019t the customer\u2019s fault either. This is a set of circumstances that have been wholly out of anyone\u2019s control. And we really can afford to make sure everyone comes out the other end having been treated fairly.\n\nSteven Hewlett-Light, Head of Product, Recordsure" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/managing-the-financial-challenge-of-covid-the-rising-wave-of-debt-management-cases/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is debt management pressure rising?", "acceptedAnswer": { "@type": "Answer", "text": "Furlough schemes are ending, government-backed lending schemes are fading away, unemployment is rising and COVID continues to disrupt society." } }, { "@type": "Question", "name": "What risks come with rapid operational scale-up?", "acceptedAnswer": { "@type": "Answer", "text": "Inexperienced staff may handle delicate customer circumstances, increasing the risk of poor outcomes." } }, { "@type": "Question", "name": "Why are sample-based checks criticised?", "acceptedAnswer": { "@type": "Answer", "text": "They can miss systemic issues, misjudge colleagues and only increase sampling after someone has failed a check." } } ] } ] } ``` ### Robo-advice isn’t the only way to simplify the advice journey - URL: https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/ - Published: 2020-10-02 - Modified: 2026-10-09 **Topic:** Advice automation Robo-advice is not the only form of automation available to financial advisers. Conversation recording, transcription, topic classification and speech analytics can reduce administration while preserving adviser-client relationships. #### Key points - Automation can simplify routine adviser tasks without replacing personal financial advice. - Manual fact-finding and data gathering can consume 24 hours each week for advisers or paraplanners. - Capture records and transcribes client conversations across video calls and in-person meetings. - Conversation Intelligence highlights details such as personal information, assets, needs and objectives. - Classify directs reviewers to the exact areas of conversations that contain relevant information. Automation has many possible uses in financial services. To offer value, it should make routine parts of an adviser’s role faster and simpler while improving the experience for advisers and customers. When automation is discussed in the sector, people often think of robo-advice. Such tools can make a process faster and simpler, and there is a place for them, but they cannot develop the relationship and loyalty that are critical to well-crafted, personal financial advice. Other automation tools are designed to support advisers by removing or simplifying routine tasks, allowing them to spend more time with customers. #### Enabling efficiencies People are the most valuable resource a firm has and remain a differentiator in customer experience. Digital advice tools will continue to grow, but there will still be demand for human reassurance when people make significant decisions about their future. Many advisers undertake lengthy fact-finding and data gathering. Detailed client information is essential for advice and proposals, but it does not need to be collected manually by advisers, especially where support staff are not available. The traditional process can be repetitive and may require advisers to work through multiple file formats, audio files, Dictaphone recordings or written notes. This process takes advisers or paraplanners 24 hours each week on average. Tools that reduce this administration allow advisers to spend more valuable time with clients. Aside from time, the process is mundane because advisers may need to collate detailed information from numerous formats. Automating that aspect assists the adviser by giving facts at their fingertips while preserving the thorough information needed for advice. #### 84% of millennials seek advice 84% of millennials seek advice, showing demand for high-quality investment advice. This reinforces the need for advisers to keep enough time for client conversations rather than spending avoidable effort on manual collation. #### Making insight accessible [Capture](/technology/conversation-intelligence/) automatically records and transcribes client conversations across meeting formats, including video calls and in-person meetings using an app. This removes manual transcription and stores the record securely in the platform for further analytics. [Recordsure Voice tools](/technology/conversation-intelligence/) highlight core information from conversations, including personal details, assets, needs and objectives. The solution is trained for financial-sector terms and phrases, helping identify investment type, attitude to risk and reasons for investing. In less structured meetings, data points such as assets and liabilities may appear across an entire conversation or multiple interactions. [Classify](/technology/conversation-intelligence/) overlays discussion topics onto a recorded conversation so an adviser or compliance manager can go directly to the relevant area. This gives a more accurate and complete view of client data, reducing the need to refer back to handwritten notes or ask clients for clarification. [Recordsure speech analytics solution](/technology/conversation-intelligence/) integrates with existing processes and practices, supporting time savings and client insight. Recordsure says it is trusted by some of the largest banks in the UK and the UK Government to record and store sensitive conversations. The analytics are designed to derive greater value from conversations once the record is securely stored. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Robo-advice isn\u2019t the only way to simplify the advice journey", "item": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/", "name": "Robo-advice isn\u2019t the only way to simplify the advice journey", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-10-02T10:54:54+01:00", "dateModified": "2022-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Robo-advice isn\u2019t the only way to simplify the advice journey", "datePublished": "2020-10-02T10:54:54+01:00", "dateModified": "2026-10-09T04:50:20+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/e84304dceefe4d9aa87d30f31cab6d07/thumbnail-1600-e7f6fefac95911e5f8244d8f021702c27e9fe08cec5b469ff1e681c9cee0a633.png", "description": "Automation in financial advice should make routine adviser tasks faster while protecting the human relationship that supports personal advice, customer reassurance and better use of client time.", "inLanguage": "en-GB", "articleBody": "Robo-advice is not the only form of automation available to financial advisers. Conversation recording, transcription, topic classification and speech analytics can reduce administration while preserving adviser-client relationships.\n\nAutomation has many possible uses in financial services. To offer value, it should make routine parts of an adviser\u2019s role faster and simpler while improving the experience for advisers and customers.\n\nWhen automation is discussed in the sector, people often think of robo-advice. Such tools can make a process faster and simpler, and there is a place for them, but they cannot develop the relationship and loyalty that are critical to well-crafted, personal financial advice.\n\nOther automation tools are designed to support advisers by removing or simplifying routine tasks, allowing them to spend more time with customers.\n\nEnabling efficiencies\n\nPeople are the most valuable resource a firm has and remain a differentiator in customer experience. Digital advice tools will continue to grow, but there will still be demand for human reassurance when people make significant decisions about their future.\n\nMany advisers undertake lengthy fact-finding and data gathering. Detailed client information is essential for advice and proposals, but it does not need to be collected manually by advisers, especially where support staff are not available.\n\nThe traditional process can be repetitive and may require advisers to work through multiple file formats, audio files, Dictaphone recordings or written notes. This process takes advisers or paraplanners 24 hours each week on average. Tools that reduce this administration allow advisers to spend more valuable time with clients.\n\nAside from time, the process is mundane because advisers may need to collate detailed information from numerous formats. Automating that aspect assists the adviser by giving facts at their fingertips while preserving the thorough information needed for advice.\n\n84% of millennials seek advice\n\n84% of millennials seek advice, showing demand for high-quality investment advice. This reinforces the need for advisers to keep enough time for client conversations rather than spending avoidable effort on manual collation.\n\nMaking insight accessible\n\nCapture automatically records and transcribes client conversations across meeting formats, including video calls and in-person meetings using an app. This removes manual transcription and stores the record securely in the platform for further analytics.\n\nRecordsure Voice tools highlight core information from conversations, including personal details, assets, needs and objectives. The solution is trained for financial-sector terms and phrases, helping identify investment type, attitude to risk and reasons for investing.\n\nIn less structured meetings, data points such as assets and liabilities may appear across an entire conversation or multiple interactions. Classify overlays discussion topics onto a recorded conversation so an adviser or compliance manager can go directly to the relevant area.\n\nThis gives a more accurate and complete view of client data, reducing the need to refer back to handwritten notes or ask clients for clarification. Recordsure speech analytics solution integrates with existing processes and practices, supporting time savings and client insight.\n\nRecordsure says it is trusted by some of the largest banks in the UK and the UK Government to record and store sensitive conversations. The analytics are designed to derive greater value from conversations once the record is securely stored.", "wordCount": 519, "keywords": [ "Banking", "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Advice automation" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "inLanguage": "en-GB", "text": "Automation has many possible uses in financial services. To offer value, it should make routine parts of an adviser\u2019s role faster and simpler while improving the experience for advisers and customers.\n\nWhen automation is discussed in the sector, people often think of robo-advice. Such tools can make a process faster and simpler, and there is a place for them, but they cannot develop the relationship and loyalty that are critical to well-crafted, personal financial advice.\n\nOther automation tools are designed to support advisers by removing or simplifying routine tasks, allowing them to spend more time with customers." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "inLanguage": "en-GB", "headline": "Enabling efficiencies", "text": "People are the most valuable resource a firm has and remain a differentiator in customer experience. Digital advice tools will continue to grow, but there will still be demand for human reassurance when people make significant decisions about their future.\n\nMany advisers undertake lengthy fact-finding and data gathering. Detailed client information is essential for advice and proposals, but it does not need to be collected manually by advisers, especially where support staff are not available.\n\nThe traditional process can be repetitive and may require advisers to work through multiple file formats, audio files, Dictaphone recordings or written notes. This process takes advisers or paraplanners 24 hours each week on average. Tools that reduce this administration allow advisers to spend more valuable time with clients.\n\nAside from time, the process is mundane because advisers may need to collate detailed information from numerous formats. Automating that aspect assists the adviser by giving facts at their fingertips while preserving the thorough information needed for advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "inLanguage": "en-GB", "headline": "84% of millennials seek advice", "text": "84% of millennials seek advice, showing demand for high-quality investment advice. This reinforces the need for advisers to keep enough time for client conversations rather than spending avoidable effort on manual collation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "inLanguage": "en-GB", "headline": "Making insight accessible", "text": "Capture automatically records and transcribes client conversations across meeting formats, including video calls and in-person meetings using an app. This removes manual transcription and stores the record securely in the platform for further analytics.\n\nRecordsure Voice tools highlight core information from conversations, including personal details, assets, needs and objectives. The solution is trained for financial-sector terms and phrases, helping identify investment type, attitude to risk and reasons for investing.\n\nIn less structured meetings, data points such as assets and liabilities may appear across an entire conversation or multiple interactions. Classify overlays discussion topics onto a recorded conversation so an adviser or compliance manager can go directly to the relevant area.\n\nThis gives a more accurate and complete view of client data, reducing the need to refer back to handwritten notes or ask clients for clarification. Recordsure speech analytics solution integrates with existing processes and practices, supporting time savings and client insight.\n\nRecordsure says it is trusted by some of the largest banks in the UK and the UK Government to record and store sensitive conversations. The analytics are designed to derive greater value from conversations once the record is securely stored." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/robo-advice-isnt-the-only-way-to-simplify-the-advice-journey/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Does robo-advice replace adviser support?", "acceptedAnswer": { "@type": "Answer", "text": "No. It says robo-advice has a place, but it is not the only form of automation and cannot replace the adviser-client relationship." } }, { "@type": "Question", "name": "Where can automation help advisers?", "acceptedAnswer": { "@type": "Answer", "text": "It can reduce routine fact-finding, data gathering, transcription and review work so advisers spend more time with customers." } }, { "@type": "Question", "name": "What does Capture do?", "acceptedAnswer": { "@type": "Answer", "text": "Capture records and transcribes client conversations in formats such as video calls and in-person meetings using an app." } }, { "@type": "Question", "name": "What does Classify add?", "acceptedAnswer": { "@type": "Answer", "text": "Classify visually overlays topics on a recorded conversation so reviewers can find the relevant section quickly." } } ] } ] } ``` ### How are wealth managers using technology to turn customer conversations into insights - URL: https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/ - Published: 2020-09-28 - Modified: 2026-10-09 **Topic:** Client insights Speech transcription and analytics can help wealth managers protect quality, strengthen customer understanding, spot trends and improve efficiency. #### Key points - EY Global Wealth Management Research says 39% of European clients plan to switch advisers in the next three years. - Automated transcription can remove the need for supervisors to attend meetings while widening review coverage. - Conversation analytics can enrich client profiles with details from every interaction. - Trend analysis can help firms understand changing client behaviour across the client base. - Digitalised meeting follow-up can reduce post-administration and give advisers more time with clients. **According to EY Global Wealth Management Research, 39% of European clients plan to switch advisers in the next three years. These recent figures heighten the pressure for firms to continuously raise the bar when it comes to satisfying customer needs, especially against the intensified competition. The last digital advancements can help wealth managers excel even further in their roles by providing them with unprecedented insight and knowledge into their clients, giving them an upper hand in the market.** #### Quality 52% of clients value quality and reputation as being a high-value priority when choosing a firm. When operating in such a regulated field, managers must ensure quality control is always to the highest standard and compliance guidelines are continuously being met. As part of this, some customer interactions will be supervised for quality control purposes. In the case of face-face meetings, a third-party member, which the client may have previously never met joins the meeting to undergo the compliance supervision. This can disrupt the rhythm of the conversation, with clients and managers alike feeling awkward or nervous and in some rare cases erode the trust that has been built. Questions like; why are they being reviewed? or are they proficient in their role? may even enter a client’s mind. Whereas, if our [Capture](/technology/conversation-intelligence/) automated speech transcription tool was used, supervisors would no longer have to be present in the meeting. They would have the ability to review conversations at a separate date and remotely. Helping advisers to maintain natural conversations with their clients, whilst saving supervisors hours each week due to the removal of travel. Automated transcriptions also mean that metadata is collected together, making files easily accessible and searchable, even at scale. This enables supervisors to review a greater proportion of conversations. Currently, only around 1-5% of client interactions are being monitored, implementing our solution offers 100% coverage of compliance across the business and ensures consistency throughout. With so many tools like these becoming available, it is only a matter of time before application moves from optional to compulsory, with the FCA expecting more from firms. #### Insight-led Aside from the compliance benefits, the implementation of this type of technology could also lead to a more insight-led ecosystem due to the information that is being derived from these conversations. When understanding your customer is a core quality expected of advisers and 53% of clients stating advisory capabilities as a high priority when choosing firms, advisers must demonstrate strong customer knowledge. Customer knowledge that is currently held in CRM systems is too thin to be meaningful but having in-depth information from every single interaction enriches profiles. With the use of AI-driven tools, the recorded customer conversations can be analysed to develop discoverable, understandable and actionable insights. Our machine learning algorithms are trained to identify nuanced topics and facts from conversations that could identify whole new opportunities. Say, for example, a client mentions their child’s graduation, and are therefore no longer paying school tuition fees, indicating more disposable income that could be invested. Details like these could be easily missed in the flow of the conversation but insight from the conversations could prompt better product recommendations and uncover new business opportunities. #### Macro trend analysis The more conversations advisers have, the more valuable the insights become. Over time, the technology can recognise trends and patterns in behaviour on an individual basis but also across the entire client base. AI-drive analysis can monitor interactions and detect correlations that occur within group areas. For example, the analysis of the data may indicate that younger clients are more risk-averse, more inclined to go for sustainable investments or may have a preference for more digitalised services. The insight derived from this analysis can help firms to adapt their operations and aid advisers with more informed product recommendations for designated categories. #### Efficiency This data-led approach is also a lot more efficient and can help managers get to the root of the client’s needs at a much quicker rate, freeing up valuable time. According to [research](/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/), paraplanners can spend an obscene 24 hours a week on post-administration chores, so becoming more digitalised and using the insight extracted from conversations can save a predicted [14 hours](/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/), which would be better spent working with clients. Our [Voice solutions](/technology/conversation-intelligence/) pull out core topics such as personal data or expenditure and stores them in a categorised form, removing the arduous task of collecting unstructured data from advisers notes or listening back to recordings on dictaphones. Paraplanners would have one central location where this data is readily accessible, so less time is wasted collating information from various sources or chasing clients for missed details. Providing additional time for advisers to connect with their clients, helping to improve client lifetime value or generate new business. In such a competitive landscape, financial firms are consistently looking for new and improved ways to better serve their customers. However, one thing still remains the same, a client and adviser relationship is completely dependent on trust. The use of AI-driven analytics can support them to strengthen relationships and gain more value from each client. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How are wealth managers using technology to turn customer conversations into insights", "item": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/", "name": "How are wealth managers using technology to turn customer conversations into insights", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-09-28T08:29:11+01:00", "dateModified": "2022-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How are wealth managers using technology to turn customer conversations into insights", "datePublished": "2020-09-28T08:29:11+01:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/02eb5974dc9d458c923ccb2a7183e4a7/thumbnail-1600-70be0242fa194774a67081774d5868e14047df698bfc0c810bcd5500bf986fcc.png", "description": "Wealth managers can use conversation analytics to evidence quality, enrich client knowledge, identify trends and reduce post-meeting administration.", "inLanguage": "en-GB", "articleBody": "Speech transcription and analytics can help wealth managers protect quality, strengthen customer understanding, spot trends and improve efficiency.\n\nAccording to EY Global Wealth Management Research, 39% of European clients plan to switch advisers in the next three years. These recent figures heighten the pressure for firms to continuously raise the bar when it comes to satisfying customer needs, especially against the intensified competition. The last digital advancements can help wealth managers excel even further in their roles by providing them with unprecedented insight and knowledge into their clients, giving them an upper hand in the market.\n\nQuality\n\n52% of clients value quality and reputation as being a high-value priority when choosing a firm. When operating in such a regulated field, managers must ensure quality control is always to the highest standard and compliance guidelines are continuously being met. As part of this, some customer interactions will be supervised for quality control purposes.\n\nIn the case of face-face meetings, a third-party member, which the client may have previously never met joins the meeting to undergo the compliance supervision. This can disrupt the rhythm of the conversation, with clients and managers alike feeling awkward or nervous and in some rare cases erode the trust that has been built. Questions like; why are they being reviewed? or are they proficient in their role? may even enter a client\u2019s mind.\n\nWhereas, if our Capture automated speech transcription tool was used, supervisors would no longer have to be present in the meeting. They would have the ability to review conversations at a separate date and remotely. Helping advisers to maintain natural conversations with their clients, whilst saving supervisors hours each week due to the removal of travel.\n\nAutomated transcriptions also mean that metadata is collected together, making files easily accessible and searchable, even at scale. This enables supervisors to review a greater proportion of conversations. Currently, only around 1-5% of client interactions are being monitored, implementing our solution offers 100% coverage of compliance across the business and ensures consistency throughout. With so many tools like these becoming available, it is only a matter of time before application moves from optional to compulsory, with the FCA expecting more from firms.\n\nInsight-led\n\nAside from the compliance benefits, the implementation of this type of technology could also lead to a more insight-led ecosystem due to the information that is being derived from these conversations. When understanding your customer is a core quality expected of advisers and 53% of clients stating advisory capabilities as a high priority when choosing firms, advisers must demonstrate strong customer knowledge.\n\nCustomer knowledge that is currently held in CRM systems is too thin to be meaningful but having in-depth information from every single interaction enriches profiles. With the use of AI-driven tools, the recorded customer conversations can be analysed to develop discoverable, understandable and actionable insights. Our machine learning algorithms are trained to identify nuanced topics and facts from conversations that could identify whole new opportunities.\n\nSay, for example, a client mentions their child\u2019s graduation, and are therefore no longer paying school tuition fees, indicating more disposable income that could be invested. Details like these could be easily missed in the flow of the conversation but insight from the conversations could prompt better product recommendations and uncover new business opportunities.\n\nMacro trend analysis\n\nThe more conversations advisers have, the more valuable the insights become. Over time, the technology can recognise trends and patterns in behaviour on an individual basis but also across the entire client base. AI-drive analysis can monitor interactions and detect correlations that occur within group areas. For example, the analysis of the data may indicate that younger clients are more risk-averse, more inclined to go for sustainable investments or may have a preference for more digitalised services. The insight derived from this analysis can help firms to adapt their operations and aid advisers with more informed product recommendations for designated categories.\n\nEfficiency\n\nThis data-led approach is also a lot more efficient and can help managers get to the root of the client\u2019s needs at a much quicker rate, freeing up valuable time. 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However, one thing still remains the same, a client and adviser relationship is completely dependent on trust. The use of AI-driven analytics can support them to strengthen relationships and gain more value from each client.", "wordCount": 862, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Client insights" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "inLanguage": "en-GB", "text": "According to EY Global Wealth Management Research, 39% of European clients plan to switch advisers in the next three years. These recent figures heighten the pressure for firms to continuously raise the bar when it comes to satisfying customer needs, especially against the intensified competition. The last digital advancements can help wealth managers excel even further in their roles by providing them with unprecedented insight and knowledge into their clients, giving them an upper hand in the market." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "inLanguage": "en-GB", "headline": "Quality", "text": "52% of clients value quality and reputation as being a high-value priority when choosing a firm. When operating in such a regulated field, managers must ensure quality control is always to the highest standard and compliance guidelines are continuously being met. As part of this, some customer interactions will be supervised for quality control purposes.\n\nIn the case of face-face meetings, a third-party member, which the client may have previously never met joins the meeting to undergo the compliance supervision. This can disrupt the rhythm of the conversation, with clients and managers alike feeling awkward or nervous and in some rare cases erode the trust that has been built. Questions like; why are they being reviewed? or are they proficient in their role? may even enter a client\u2019s mind.\n\nWhereas, if our Capture automated speech transcription tool was used, supervisors would no longer have to be present in the meeting. They would have the ability to review conversations at a separate date and remotely. Helping advisers to maintain natural conversations with their clients, whilst saving supervisors hours each week due to the removal of travel.\n\nAutomated transcriptions also mean that metadata is collected together, making files easily accessible and searchable, even at scale. This enables supervisors to review a greater proportion of conversations. Currently, only around 1-5% of client interactions are being monitored, implementing our solution offers 100% coverage of compliance across the business and ensures consistency throughout. With so many tools like these becoming available, it is only a matter of time before application moves from optional to compulsory, with the FCA expecting more from firms." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "inLanguage": "en-GB", "headline": "Insight-led", "text": "Aside from the compliance benefits, the implementation of this type of technology could also lead to a more insight-led ecosystem due to the information that is being derived from these conversations. When understanding your customer is a core quality expected of advisers and 53% of clients stating advisory capabilities as a high priority when choosing firms, advisers must demonstrate strong customer knowledge.\n\nCustomer knowledge that is currently held in CRM systems is too thin to be meaningful but having in-depth information from every single interaction enriches profiles. With the use of AI-driven tools, the recorded customer conversations can be analysed to develop discoverable, understandable and actionable insights. Our machine learning algorithms are trained to identify nuanced topics and facts from conversations that could identify whole new opportunities.\n\nSay, for example, a client mentions their child\u2019s graduation, and are therefore no longer paying school tuition fees, indicating more disposable income that could be invested. 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For example, the analysis of the data may indicate that younger clients are more risk-averse, more inclined to go for sustainable investments or may have a preference for more digitalised services. The insight derived from this analysis can help firms to adapt their operations and aid advisers with more informed product recommendations for designated categories." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "inLanguage": "en-GB", "headline": "Efficiency", "text": "This data-led approach is also a lot more efficient and can help managers get to the root of the client\u2019s needs at a much quicker rate, freeing up valuable time. According to research, paraplanners can spend an obscene 24 hours a week on post-administration chores, so becoming more digitalised and using the insight extracted from conversations can save a predicted 14 hours, which would be better spent working with clients.\n\nOur Voice solutions pull out core topics such as personal data or expenditure and stores them in a categorised form, removing the arduous task of collecting unstructured data from advisers notes or listening back to recordings on dictaphones. Paraplanners would have one central location where this data is readily accessible, so less time is wasted collating information from various sources or chasing clients for missed details. Providing additional time for advisers to connect with their clients, helping to improve client lifetime value or generate new business.\n\nIn such a competitive landscape, financial firms are consistently looking for new and improved ways to better serve their customers. However, one thing still remains the same, a client and adviser relationship is completely dependent on trust. The use of AI-driven analytics can support them to strengthen relationships and gain more value from each client." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-wealth-managers-are-using-technology-to-turn-customer-conversations-into-insights/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What client expectation is most important here?", "acceptedAnswer": { "@type": "Answer", "text": "Quality and reputation matter: 52% of clients value them highly when choosing a firm." } }, { "@type": "Question", "name": "How can transcription improve supervision?", "acceptedAnswer": { "@type": "Answer", "text": "Supervisors can review conversations remotely after the meeting instead of attending and disrupting the client conversation." } }, { "@type": "Question", "name": "Why can customer conversations create useful insight?", "acceptedAnswer": { "@type": "Answer", "text": "They contain details that may not be captured in CRM records but can inform profiles, recommendations and future service." } }, { "@type": "Question", "name": "What efficiency benefit is available?", "acceptedAnswer": { "@type": "Answer", "text": "Research suggests paraplanners could save a predicted 14 hours from post-administration work." } }, { "@type": "Question", "name": "What remains central to the adviser relationship?", "acceptedAnswer": { "@type": "Answer", "text": "The client and adviser relationship remains dependent on trust." } } ] } ] } ``` ### New blood: how millennials are managing their money - URL: https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/ - Published: 2020-09-23 - Modified: 2026-10-09 **Topic:** Millennial investing Millennial scale, digital habits and growing investment interest are changing expectations for financial services technology, with Goldman Sachs and ONS figures showing the size of the shift. #### Key points - Millennials make up the largest generation in history, eclipsing baby boomers by over 15 million. - 44% of people aged 16–34 were looking to invest or save their funding. - Millennials are digital natives and use technology daily. - Their expectations can help drive technology advancement in financial services. Millennials make up the largest generation in history, eclipsing the baby boomers by over [15 million](https://www.goldmansachs.com/insights/archive/millennials/), and they’re starting to move into their prime spending years. Traditionally, investing has been reserved for the older generations and exclusive to those with more capital, however, we found that millennials have begun their own investment journey, with [44%](https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/articles/intergenerationaltransfersthedistributionofinheritancesgiftsandloans/2018-10-30#use-of-inheritances) of those ages 16-34 looking to invest or save their funding. Millennials are the first digital natives, they’re accustomed to using innovative technology on a daily basis, making them perfect to spearhead the tech advancements in financial services. #### Supporting sources - [Goldman Sachs insight on millennials](https://www.goldmansachs.com/insights/archive/millennials/) - [ONS intergenerational transfers: use of inheritances](https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/articles/intergenerationaltransfersthedistributionofinheritancesgiftsandloans/2018-10-30#use-of-inheritances) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Traditionally, investing has been reserved for the older generations and exclusive to those with more capital, however, we found that millennials have begun their own investment journey, with 44% of those ages 16-34 looking to invest or save their funding.\n\nMillennials are the first digital natives, they\u2019re accustomed to using innovative technology on a daily basis, making them perfect to spearhead the tech advancements in financial services.", "wordCount": 120, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/#analysis-1" } ], "about": [ { "@type": "Thing", "name": "Millennial investing" } ], "citation": [ { "@type": "CreativeWork", "name": "Goldman Sachs insight on millennials", "url": "https://www.goldmansachs.com/insights/archive/millennials/" }, { "@type": "CreativeWork", "name": "ONS intergenerational transfers: use of inheritances", "url": "https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/articles/intergenerationaltransfersthedistributionofinheritancesgiftsandloans/2018-10-30#use-of-inheritances" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/#webpage" }, "inLanguage": "en-GB", "text": "Millennials make up the largest generation in history, eclipsing the baby boomers by over 15 million, and they\u2019re starting to move into their prime spending years. Traditionally, investing has been reserved for the older generations and exclusive to those with more capital, however, we found that millennials have begun their own investment journey, with 44% of those ages 16-34 looking to invest or save their funding.\n\nMillennials are the first digital natives, they\u2019re accustomed to using innovative technology on a daily basis, making them perfect to spearhead the tech advancements in financial services." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/new-blood-how-millennials-are-managing-their-money/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What matters about millennials for financial services?", "acceptedAnswer": { "@type": "Answer", "text": "Millennials are the largest generation in history and are moving into their prime spending years." } }, { "@type": "Question", "name": "What investing figure is cited?", "acceptedAnswer": { "@type": "Answer", "text": "44% of people aged 16\u201334 were looking to invest or save their funding." } }, { "@type": "Question", "name": "Why does digital experience matter?", "acceptedAnswer": { "@type": "Answer", "text": "Millennials are digital natives accustomed to using technology daily." } }, { "@type": "Question", "name": "What is the financial services implication?", "acceptedAnswer": { "@type": "Answer", "text": "Millennials are well placed to lead technology advancement in financial services." } } ] } ] } ``` ### Demonstrating catalysts for change in financial services - URL: https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/ - Published: 2020-09-21 - Modified: 2026-10-09 **Topic:** Financial services change The Time Trials whitepaper examines how financial services is changing through technology, regulation, client relationship management and pandemic disruption. It argues that firms need to understand the direction of change to adapt. #### Key points - The whitepaper draws on insights from financial services institutions and industry contributors. - Financial services is changing through mobile usage, client relationship management, regulation and technology. - COVID-19 accelerated changes in advice that may remain after the pandemic. - Regulatory change remains a major pressure for wealth managers and advisers. > “It’s vital that firms get the balance right if they’re going to stand up, and market players who are succeeding have engineered hybrid services with the right blend of machine, human data and voice that are needed to drive intelligent wealth solutions.” Antony Bream, Managing Director, UK and Americas at Wealth Dynamix. Understanding financial services has never been more difficult, with the industry now changing faster than ever before. Our whitepaper is an extensive document that seeks to identify efficiencies in wealth and financial management. It does this by featuring key insights from some of the top names in financial services; dynamic institutions such as Standard Life, The Wisdom Council, and Heronsgate Capital. In this piece we provide an enlightening examination of the state of financial services and how we see the industry changing, through such facets as mobile usage and client relationship management. It’s important to identify exactly where the trajectory is heading as financial services rarely stands still. The last decade alone is proof enough of this fact, it has been defined by shifting regulation, rising technology and empowering insight. It’s important for firms to understand the trajectory as those that don’t adapt, get left behind. Time Trials allows you to not only keep up with, but to get ahead of the curve. The insight you can gain from reading this piece will be the sail you need to navigate forward. #### Pre and Post Pandemic Time Trials examines the fact that we’re seeing components of the industry, that were thought to be set in stone, changing before our eyes, COVID-19 prompted the financial advice industry to instil years of change in a matter of months, and much of this could well be here to stay. Although the changes we see happening today are likely to be seminal, many of the issues that face financial advisers and wealth managers today pre-date the pandemic, and the crises that rocked the world before that. What surprises many is that for an industry that works with some of the world’s most forward-thinking individuals and institutions, the financial advisory landscape continues to be marred by obstacles that stand in the way of innovation, efficiency and the intelligent delivery of service. Time Trials develops key insight from top industry analysts and helps readers with understanding the changes being made and those already to come. #### Chasing Compliance Compliance is a rapidly moving target, 40% of Wealth managers anticipate the pace of regulation change over the next year to be ‘very high’. To get it right, leaders must anticipate the latest changes proactively, as red tape has wrapped itself firmly around the boardroom table, and as it shows little sign of loosening its grasp, market players need to do more than simply comply – in this piece we show advisors how to futureproof their businesses to stand up to the one inevitability of the future. **Advisors need to be able to see the full picture and the insight shared by our partners in Time Trials gives advisors the visibility to understand the complete landscape. To read the full piece, download our whitepaper.** Download our whitepaper > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Demonstrating catalysts for change in financial services", "item": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/", "name": "Demonstrating catalysts for change in financial services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-09-21T09:53:15+01:00", "dateModified": "2020-09-22T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-09-22" }, { "@type": "Report", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Demonstrating catalysts for change in financial services", "datePublished": "2020-09-21T09:53:15+01:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/17dbe678673b4a368be427eddd595d84/thumbnail-1024-6da59939d66bcc28c735d6e68ed5bdb98b342f3d520b9485e234216a69d407e0.png", "description": "The Time Trials whitepaper examines changing financial advice and wealth management through industry insight, pandemic disruption and regulatory pressure.", "inLanguage": "en-GB", "articleBody": "The Time Trials whitepaper examines how financial services is changing through technology, regulation, client relationship management and pandemic disruption. It argues that firms need to understand the direction of change to adapt.\n\n\u201cIt\u2019s vital that firms get the balance right if they\u2019re going to stand up, and market players who are succeeding have engineered hybrid services with the right blend of machine, human data and voice that are needed to drive intelligent wealth solutions.\u201d Antony Bream, Managing Director, UK and Americas at Wealth Dynamix.\n\nUnderstanding financial services has never been more difficult, with the industry now changing faster than ever before. Our whitepaper is an extensive document that seeks to identify efficiencies in wealth and financial management. It does this by featuring key insights from some of the top names in financial services; dynamic institutions such as Standard Life, The Wisdom Council, and Heronsgate Capital.\n\nIn this piece we provide an enlightening examination of the state of financial services and how we see the industry changing, through such facets as mobile usage and client relationship management. It\u2019s important to identify exactly where the trajectory is heading as financial services rarely stands still. The last decade alone is proof enough of this fact, it has been defined by shifting regulation, rising technology and empowering insight.\n\nIt\u2019s important for firms to understand the trajectory as those that don\u2019t adapt, get left behind. Time Trials allows you to not only keep up with, but to get ahead of the curve. The insight you can gain from reading this piece will be the sail you need to navigate forward.\n\nPre and Post Pandemic\n\nTime Trials examines the fact that we\u2019re seeing components of the industry, that were thought to be set in stone, changing before our eyes, COVID-19 prompted the financial advice industry to instil years of change in a matter of months, and much of this could well be here to stay.\n\nAlthough the changes we see happening today are likely to be seminal, many of the issues that face financial advisers and wealth managers today pre-date the pandemic, and the crises that rocked the world before that. What surprises many is that for an industry that works with some of the world\u2019s most forward-thinking individuals and institutions, the financial advisory landscape continues to be marred by obstacles that stand in the way of innovation, efficiency and the intelligent delivery of service. Time Trials develops key insight from top industry analysts and helps readers with understanding the changes being made and those already to come.\n\nChasing Compliance\n\nCompliance is a rapidly moving target, 40% of Wealth managers anticipate the pace of regulation change over the next year to be \u2018very high\u2019. To get it right, leaders must anticipate the latest changes proactively, as red tape has wrapped itself firmly around the boardroom table, and as it shows little sign of loosening its grasp, market players need to do more than simply comply \u2013 in this piece we show advisors how to futureproof their businesses to stand up to the one inevitability of the future.\n\nAdvisors need to be able to see the full picture and the insight shared by our partners in Time Trials gives advisors the visibility to understand the complete landscape. To read the full piece, download our whitepaper.\n\nDownload our whitepaper", "wordCount": 551, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Financial services change" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "\u201cIt\u2019s vital that firms get the balance right if they\u2019re going to stand up, and market players who are succeeding have engineered hybrid services with the right blend of machine, human data and voice that are needed to drive intelligent wealth solutions.\u201d Antony Bream, Managing Director, UK and Americas at Wealth Dynamix.\n\nUnderstanding financial services has never been more difficult, with the industry now changing faster than ever before. Our whitepaper is an extensive document that seeks to identify efficiencies in wealth and financial management. It does this by featuring key insights from some of the top names in financial services; dynamic institutions such as Standard Life, The Wisdom Council, and Heronsgate Capital.\n\nIn this piece we provide an enlightening examination of the state of financial services and how we see the industry changing, through such facets as mobile usage and client relationship management. It\u2019s important to identify exactly where the trajectory is heading as financial services rarely stands still. The last decade alone is proof enough of this fact, it has been defined by shifting regulation, rising technology and empowering insight.\n\nIt\u2019s important for firms to understand the trajectory as those that don\u2019t adapt, get left behind. Time Trials allows you to not only keep up with, but to get ahead of the curve. The insight you can gain from reading this piece will be the sail you need to navigate forward." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Pre and Post Pandemic", "text": "Time Trials examines the fact that we\u2019re seeing components of the industry, that were thought to be set in stone, changing before our eyes, COVID-19 prompted the financial advice industry to instil years of change in a matter of months, and much of this could well be here to stay.\n\nAlthough the changes we see happening today are likely to be seminal, many of the issues that face financial advisers and wealth managers today pre-date the pandemic, and the crises that rocked the world before that. What surprises many is that for an industry that works with some of the world\u2019s most forward-thinking individuals and institutions, the financial advisory landscape continues to be marred by obstacles that stand in the way of innovation, efficiency and the intelligent delivery of service. Time Trials develops key insight from top industry analysts and helps readers with understanding the changes being made and those already to come." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Chasing Compliance", "text": "Compliance is a rapidly moving target, 40% of Wealth managers anticipate the pace of regulation change over the next year to be \u2018very high\u2019. To get it right, leaders must anticipate the latest changes proactively, as red tape has wrapped itself firmly around the boardroom table, and as it shows little sign of loosening its grasp, market players need to do more than simply comply \u2013 in this piece we show advisors how to futureproof their businesses to stand up to the one inevitability of the future.\n\nAdvisors need to be able to see the full picture and the insight shared by our partners in Time Trials gives advisors the visibility to understand the complete landscape. To read the full piece, download our whitepaper.\n\nDownload our whitepaper" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/demonstrating-catalysts-for-change-in-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is Time Trials about?", "acceptedAnswer": { "@type": "Answer", "text": "Time Trials is a whitepaper on financial services change, wealth and financial management, mobile usage and client relationship management." } }, { "@type": "Question", "name": "How did COVID-19 affect financial advice?", "acceptedAnswer": { "@type": "Answer", "text": "COVID-19 prompted years of change in financial advice within months, and some changes may remain." } }, { "@type": "Question", "name": "Why is compliance a focus?", "acceptedAnswer": { "@type": "Answer", "text": "40% of wealth managers expect the pace of regulatory change over the next year to be very high." } } ] } ] } ``` ### Things financial advisers could be doing instead of post-meeting administration - URL: https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/ - Published: 2020-09-15 - Modified: 2026-10-09 **Topic:** Administration time Reducing post-meeting administration gives advisers and paraplanners more time for client meetings, development and industry learning. Recordsure research on potential time savings illustrates the opportunity. #### Key points - Paraplanners may spend 1-3 hours transcribing recordings and writing meeting documentation. - Recordsure research said 14 hours a week could be saved through Extract. - That time could support around 9 client meetings. - Reclaimed time can also support training, development and sector knowledge. Paraplanners spend an average of 1-3 hours transcribing voice recordings and writing documentation after client meetings. Recordsure research said 14 hours could be saved each week through the implementation of its Extract solution. That reclaimed time can be redirected into client work, development and sector learning. #### Using reclaimed time The 14 hours saved could be used for around 9 client meetings, helping advisers strengthen existing relationships and potentially identify new recommendations from those meetings. It could also be used for personal development, including additional training or revisiting the basics. Advisers and paraplanners could also use the time to improve industry knowledge by attending webinars and events, spotting emerging sector trends and taking advantage of relevant developments. #### Reducing administrative duties Reducing administrative duties can save paraplanners and advisers a substantial amount of time each week. That time can be used for business development, client work or professional development. Because no two firms are the same, Recordsure developed a tool to help firms calculate potential reclaimed hours. The Time Saving Calculator helps firms estimate the time they could save. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Advisers and paraplanners could also use the time to improve industry knowledge by attending webinars and events, spotting emerging sector trends and taking advantage of relevant developments.\n\nReducing administrative duties\n\nReducing administrative duties can save paraplanners and advisers a substantial amount of time each week. That time can be used for business development, client work or professional development.\n\nBecause no two firms are the same, Recordsure developed a tool to help firms calculate potential reclaimed hours. The Time Saving Calculator helps firms estimate the time they could save.", "wordCount": 202, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Administration time" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-3" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#webpage" }, "inLanguage": "en-GB", "text": "Paraplanners spend an average of 1-3 hours transcribing voice recordings and writing documentation after client meetings. Recordsure research said 14 hours could be saved each week through the implementation of its Extract solution.\n\nThat reclaimed time can be redirected into client work, development and sector learning." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#webpage" }, "inLanguage": "en-GB", "headline": "Using reclaimed time", "text": "The 14 hours saved could be used for around 9 client meetings, helping advisers strengthen existing relationships and potentially identify new recommendations from those meetings.\n\nIt could also be used for personal development, including additional training or revisiting the basics. Advisers and paraplanners could also use the time to improve industry knowledge by attending webinars and events, spotting emerging sector trends and taking advantage of relevant developments." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#webpage" }, "inLanguage": "en-GB", "headline": "Reducing administrative duties", "text": "Reducing administrative duties can save paraplanners and advisers a substantial amount of time each week. That time can be used for business development, client work or professional development.\n\nBecause no two firms are the same, Recordsure developed a tool to help firms calculate potential reclaimed hours. The Time Saving Calculator helps firms estimate the time they could save." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/things-financial-advisers-could-be-doing-instead-of-post-meeting-administration/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How long can post-meeting administration take?", "acceptedAnswer": { "@type": "Answer", "text": "Paraplanners spend an average of 1-3 hours transcribing voice recordings and writing documentation after client meetings." } }, { "@type": "Question", "name": "How much time did Recordsure say could be saved?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure research said 14 hours could be saved each week through the implementation of Extract." } }, { "@type": "Question", "name": "What could advisers do with the time saved?", "acceptedAnswer": { "@type": "Answer", "text": "Advisers could use the time for around 9 client meetings, personal development, training and industry learning." } } ] } ] } ``` ### How to drive consistent QA through remote and in-person communication channels - URL: https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/ - Published: 2020-09-08 - Modified: 2026-10-09 **Topic:** Hybrid QA oversight As client meetings move between in-person, telephone and video channels, firms need consistent QA and compliance monitoring. Conversation capture can reduce evidence gaps, support remote supervision and help advisers evidence customer discussions. #### Key points - Client channels changed quickly during the pandemic and the experience must remain consistent across every touchpoint. - Unrecorded or unused meeting records create gaps in compliance monitoring, QA and customer outcome evidence. - Remote working can reduce supervisor visibility and adviser support if firms lack suitable infrastructure. - Conversation capture can organise records, support retrieval and enable advisers and supervisors to review evidence remotely. Now that the UK is over the first hurdle of the pandemic, the return to office life has begun. For some, the home office is still their domain, while others are returning to offices and field-based roles. Whatever environment you find yourself in, teams need to be well equipped for the complexities that financial services can bring, ensuring there are no gaps in the net with regards to customer outcomes or compliance. #### Compliance regulations As government guidelines have shifted, so too have the ways we work and the ways we conduct client meetings. The channels we use to interact are in constant flux: even as meeting in-situ becomes a more viable option again, many demographics who once wouldn’t have been seen as ‘tech-savvy’ have grown a preference for digital communication channels. Regardless of format, the client experience needs to be consistent across all brand touch points. Firms have generally overcome the first challenge the pandemic has thrown at them: staying in contact with their clients. The next challenge to overcome is how to do this on a sustainable basis, with the right infrastructure in place to ensure risk management and positive client outcomes. With organisations switching to video conferencing tools like Zoom or Microsoft Teams to complement telephony, we are often finding that measures to monitor compliance or quality assurance have struggled to keep pace with the changes elsewhere. Cut off from regular office infrastructure, many client meetings are going unrecorded, with follow-up information limited to the key points the adviser manages to write down during the call. Even when recorded, the audio files are often left to gather dust on a database with no practical way to review them or harness the data. This creates vulnerabilities to new risks and increases the chances of poor customer outcomes. These challenges are exacerbated by disconnects in teams forced by remote working. Supervisors are struggling to monitor their team’s performance outside the office whilst advisers aren’t getting the level of support they would ideally hope for. #### A digital hybrid solution Our solution, [Capture](/technology/conversation-intelligence/), is highly versatile and designed to gather records from all meeting types. The innovative tool records conversations whether by telephone, video call or in-person meetings using smart AI-driven software to intelligently understand the language used for data management, meeting transcription and deeper analytics. Using Recordsure’s knowledge model, which is built on over 6 years’ of real-live conversation data from financial services, the system accurately identifies different patterns of speech while distinguishing between accents, dialects and tones. Recordings are automatically organised to make search and retrieval fast and easy. Capture allows supervisors to follow their team’s advice remotely and enables advisers to go through their own records for feedback from managers, self-review or evidence key discussion points when talking to customers. **With teams buckling under the burden of post-meeting admin for instance, we are finding advisers and paraplanners can reclaim two days a week through smart automation. No two business models are the same though, so to help illustrate the impact technology like this can have, we have developed a free interactive tool to help calculate the amount of time that could be freed up for advisers and supervisors through innovative new technology.** > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How to drive consistent QA through remote and in-person communication channels", "item": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/", "name": "How to drive consistent QA through remote and in-person communication channels", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-09-08T12:08:27+01:00", "dateModified": "2021-02-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How to drive consistent QA through remote and in-person communication channels", "datePublished": "2020-09-08T12:08:27+01:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3216f1563f3d42cf81586068658bd73f/thumbnail-1024-07a86c9a42632ddfcbb25ba42118123ba0cae4f06a693a1a663bac117c51214e.jpg", "description": "Financial services teams need consistent oversight across office, remote and field-based meetings, with recording, retrieval and QA keeping pace with changing client channels.", "inLanguage": "en-GB", "articleBody": "As client meetings move between in-person, telephone and video channels, firms need consistent QA and compliance monitoring. Conversation capture can reduce evidence gaps, support remote supervision and help advisers evidence customer discussions.\n\nNow that the UK is over the first hurdle of the pandemic, the return to office life has begun. For some, the home office is still their domain, while others are returning to offices and field-based roles. Whatever environment you find yourself in, teams need to be well equipped for the complexities that financial services can bring, ensuring there are no gaps in the net with regards to customer outcomes or compliance.\n\nCompliance regulations\n\nAs government guidelines have shifted, so too have the ways we work and the ways we conduct client meetings. The channels we use to interact are in constant flux: even as meeting in-situ becomes a more viable option again, many demographics who once wouldn\u2019t have been seen as \u2018tech-savvy\u2019 have grown a preference for digital communication channels. Regardless of format, the client experience needs to be consistent across all brand touch points.\n\nFirms have generally overcome the first challenge the pandemic has thrown at them: staying in contact with their clients. The next challenge to overcome is how to do this on a sustainable basis, with the right infrastructure in place to ensure risk management and positive client outcomes. With organisations switching to video conferencing tools like Zoom or Microsoft Teams to complement telephony, we are often finding that measures to monitor compliance or quality assurance have struggled to keep pace with the changes elsewhere.\n\nCut off from regular office infrastructure, many client meetings are going unrecorded, with follow-up information limited to the key points the adviser manages to write down during the call. Even when recorded, the audio files are often left to gather dust on a database with no practical way to review them or harness the data. This creates vulnerabilities to new risks and increases the chances of poor customer outcomes.\n\nThese challenges are exacerbated by disconnects in teams forced by remote working. Supervisors are struggling to monitor their team\u2019s performance outside the office whilst advisers aren\u2019t getting the level of support they would ideally hope for.\n\nA digital hybrid solution\n\nOur solution, Capture, is highly versatile and designed to gather records from all meeting types. The innovative tool records conversations whether by telephone, video call or in-person meetings using smart AI-driven software to intelligently understand the language used for data management, meeting transcription and deeper analytics.\n\nUsing Recordsure\u2019s knowledge model, which is built on over 6 years\u2019 of real-live conversation data from financial services, the system accurately identifies different patterns of speech while distinguishing between accents, dialects and tones. Recordings are automatically organised to make search and retrieval fast and easy. Capture allows supervisors to follow their team\u2019s advice remotely and enables advisers to go through their own records for feedback from managers, self-review or evidence key discussion points when talking to customers.\n\nWith teams buckling under the burden of post-meeting admin for instance, we are finding advisers and paraplanners can reclaim two days a week through smart automation. 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The channels we use to interact are in constant flux: even as meeting in-situ becomes a more viable option again, many demographics who once wouldn\u2019t have been seen as \u2018tech-savvy\u2019 have grown a preference for digital communication channels. Regardless of format, the client experience needs to be consistent across all brand touch points.\n\nFirms have generally overcome the first challenge the pandemic has thrown at them: staying in contact with their clients. The next challenge to overcome is how to do this on a sustainable basis, with the right infrastructure in place to ensure risk management and positive client outcomes. With organisations switching to video conferencing tools like Zoom or Microsoft Teams to complement telephony, we are often finding that measures to monitor compliance or quality assurance have struggled to keep pace with the changes elsewhere.\n\nCut off from regular office infrastructure, many client meetings are going unrecorded, with follow-up information limited to the key points the adviser manages to write down during the call. Even when recorded, the audio files are often left to gather dust on a database with no practical way to review them or harness the data. This creates vulnerabilities to new risks and increases the chances of poor customer outcomes.\n\nThese challenges are exacerbated by disconnects in teams forced by remote working. Supervisors are struggling to monitor their team\u2019s performance outside the office whilst advisers aren\u2019t getting the level of support they would ideally hope for." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#webpage" }, "inLanguage": "en-GB", "headline": "A digital hybrid solution", "text": "Our solution, Capture, is highly versatile and designed to gather records from all meeting types. The innovative tool records conversations whether by telephone, video call or in-person meetings using smart AI-driven software to intelligently understand the language used for data management, meeting transcription and deeper analytics.\n\nUsing Recordsure\u2019s knowledge model, which is built on over 6 years\u2019 of real-live conversation data from financial services, the system accurately identifies different patterns of speech while distinguishing between accents, dialects and tones. Recordings are automatically organised to make search and retrieval fast and easy. Capture allows supervisors to follow their team\u2019s advice remotely and enables advisers to go through their own records for feedback from managers, self-review or evidence key discussion points when talking to customers.\n\nWith teams buckling under the burden of post-meeting admin for instance, we are finding advisers and paraplanners can reclaim two days a week through smart automation. No two business models are the same though, so to help illustrate the impact technology like this can have, we have developed a free interactive tool to help calculate the amount of time that could be freed up for advisers and supervisors through innovative new technology." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/driving-consistent-qa-through-remote-and-in-person-communication-channels/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is consistent QA harder across remote and in-person channels?", "acceptedAnswer": { "@type": "Answer", "text": "Channels changed quickly, while monitoring, recording and quality assurance systems did not always keep pace." } }, { "@type": "Question", "name": "What risk comes from unrecorded meetings?", "acceptedAnswer": { "@type": "Answer", "text": "Unrecorded meetings leave firms reliant on notes taken during the call, creating gaps in evidence and increasing the risk of poor outcomes." } }, { "@type": "Question", "name": "How does Recordsure\u2019s solution help supervisors?", "acceptedAnswer": { "@type": "Answer", "text": "It organises recordings for search and retrieval, allowing supervisors to follow advice remotely and advisers to review records for feedback or evidence." } } ] } ] } ``` ### You don’t have time to waste, try our Time Saving Calculator - URL: https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/ - Published: 2020-08-27 - Modified: 2026-10-09 **Topic:** Time saving calculator The free Time Saving Calculator helps wealth managers and IFAs estimate post-meeting administration effort, potential time savings and the business case for automation. #### Key points - Post-meeting administration can prevent advisers and support staff from spending more time with clients. - The calculator uses data such as team size, support split and meeting frequency. - Its output helps firms estimate monetary savings, hourly savings and extra adviser capacity. **Every client meeting results in a mountain of administrative follow-up work, which burdens advisers and support staff alike preventing them from spending more time with clients.** Across the industry, firms are embracing a more digital-first approach to business. Sometimes, clearly mapping out areas for improvement can be a struggle before solutions can be researched and business cases drafted. In an effort to help improve visibility on the scope for process enhancements that can boost efficiencies, compliance and client loyalty, we have developed an interactive calculator tool designed specifically for wealth managers, IFAs and similar financial service organisations. The Time Saving Calculator is a completely free resource to help steer thinking on digitisation. Many companies lack clear figures on the amount of time that is being absorbed in post-meeting administration, with our research suggesting that in most cases this can equate to more than a day or two each week that is being underutilised. The calculator has been created with input from across the Recordsure network including leading wealth managers and IFAs as well as our partners. The tool analyses data such as team size, the split between support staff and advisers and the frequency of client meetings. This is fed into bespoke algorithms that break down both the monetary and hourly savings which firms can realistically aim to use. This allows leaders to visualise how much time is being lost each week and how many hours of administration could be removed through sophisticated automation. Ultimately, wealth management is an industry that relies on the close relationships between advisers and their clients, and a key goal of automation is to free up adviser capacity so more time can be spent strengthening client relationships and drawing in new business. The calculator tool helps illustrate the potential here by giving an estimate on the number of additional meetings with the capacity freed up through increased digitisation. #### Building a business case for automation The calculator is a great way to start mapping out the need for automation of post-meeting admin and building a business case based on realistic ROI figures. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "You don\u2019t have time to waste, try our Time Saving Calculator", "item": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/", "name": "You don\u2019t have time to waste, try our Time Saving Calculator", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-08-27T10:07:05+01:00", "dateModified": "2021-02-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "You don\u2019t have time to waste, try our Time Saving Calculator", "datePublished": "2020-08-27T10:07:05+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f2a21b7a42814783b5cc7e016ad816c6/thumbnail-1024-d17c1551a44755f3b94b3bf08ca97e53a9f2f4b707d5bb89768ed2002a2ae743.jpg", "description": "Recordsure\u2019s Time Saving Calculator helps wealth management firms estimate post-meeting administration effort and the time that automation could return to advisers.", "inLanguage": "en-GB", "articleBody": "The free Time Saving Calculator helps wealth managers and IFAs estimate post-meeting administration effort, potential time savings and the business case for automation.\n\nEvery client meeting results in a mountain of administrative follow-up work, which burdens advisers and support staff alike preventing them from spending more time with clients.\n\nAcross the industry, firms are embracing a more digital-first approach to business. Sometimes, clearly mapping out areas for improvement can be a struggle before solutions can be researched and business cases drafted.\n\nIn an effort to help improve visibility on the scope for process enhancements that can boost efficiencies, compliance and client loyalty, we have developed an interactive calculator tool designed specifically for wealth managers, IFAs and similar financial service organisations. The Time Saving Calculator is a completely free resource to help steer thinking on digitisation.\n\nMany companies lack clear figures on the amount of time that is being absorbed in post-meeting administration, with our research suggesting that in most cases this can equate to more than a day or two each week that is being underutilised.\n\nThe calculator has been created with input from across the Recordsure network including leading wealth managers and IFAs as well as our partners. The tool analyses data such as team size, the split between support staff and advisers and the frequency of client meetings. This is fed into bespoke algorithms that break down both the monetary and hourly savings which firms can realistically aim to use.\n\nThis allows leaders to visualise how much time is being lost each week and how many hours of administration could be removed through sophisticated automation. Ultimately, wealth management is an industry that relies on the close relationships between advisers and their clients, and a key goal of automation is to free up adviser capacity so more time can be spent strengthening client relationships and drawing in new business. The calculator tool helps illustrate the potential here by giving an estimate on the number of additional meetings with the capacity freed up through increased digitisation.\n\nBuilding a business case for automation\n\nThe calculator is a great way to start mapping out the need for automation of post-meeting admin and building a business case based on realistic ROI figures.", "wordCount": 369, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Time saving calculator" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage" }, "inLanguage": "en-GB", "text": "Every client meeting results in a mountain of administrative follow-up work, which burdens advisers and support staff alike preventing them from spending more time with clients.\n\nAcross the industry, firms are embracing a more digital-first approach to business. Sometimes, clearly mapping out areas for improvement can be a struggle before solutions can be researched and business cases drafted.\n\nIn an effort to help improve visibility on the scope for process enhancements that can boost efficiencies, compliance and client loyalty, we have developed an interactive calculator tool designed specifically for wealth managers, IFAs and similar financial service organisations. The Time Saving Calculator is a completely free resource to help steer thinking on digitisation.\n\nMany companies lack clear figures on the amount of time that is being absorbed in post-meeting administration, with our research suggesting that in most cases this can equate to more than a day or two each week that is being underutilised.\n\nThe calculator has been created with input from across the Recordsure network including leading wealth managers and IFAs as well as our partners. The tool analyses data such as team size, the split between support staff and advisers and the frequency of client meetings. This is fed into bespoke algorithms that break down both the monetary and hourly savings which firms can realistically aim to use.\n\nThis allows leaders to visualise how much time is being lost each week and how many hours of administration could be removed through sophisticated automation. Ultimately, wealth management is an industry that relies on the close relationships between advisers and their clients, and a key goal of automation is to free up adviser capacity so more time can be spent strengthening client relationships and drawing in new business. The calculator tool helps illustrate the potential here by giving an estimate on the number of additional meetings with the capacity freed up through increased digitisation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage" }, "inLanguage": "en-GB", "headline": "Building a business case for automation", "text": "The calculator is a great way to start mapping out the need for automation of post-meeting admin and building a business case based on realistic ROI figures." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/you-dont-have-time-to-waste-try-our-time-saving-calculator/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is the Time Saving Calculator designed for?", "acceptedAnswer": { "@type": "Answer", "text": "It is designed for wealth managers, IFAs and similar financial services organisations." } }, { "@type": "Question", "name": "What does the calculator analyse?", "acceptedAnswer": { "@type": "Answer", "text": "It analyses team size, the split between support staff and advisers and the frequency of client meetings." } }, { "@type": "Question", "name": "What does the calculator help firms estimate?", "acceptedAnswer": { "@type": "Answer", "text": "It helps estimate monetary savings, hourly savings and additional meeting capacity that could come from automation." } } ] } ] } ``` ### Handling risk management during a pandemic - URL: https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/ - Published: 2020-08-24 - Modified: 2026-10-09 **Topic:** Pandemic risk management Remote working accelerated digitisation and increased the need for quality assurance, risk-based conversation review and sustainable hybrid operating models. #### Key points - The pandemic forced firms to reconsider processes and accelerate digitisation. - Remote channels helped firms stay connected but created supervision and quality assurance challenges. - Recorded conversations create value only when firms use the data to manage risk. - Technology can support supervisor oversight, adviser self-review and evidence in disputes. At the recent RegTech Talks event exploring *financial fraud and the growth of RegTech post-pandemic*, Recordsure CEO Joe Norburn discussed how firms can manage risks and ensure good customer outcomes remotely. Here are some of our key takeaways from the content discussed The financial services sector has been flipped on its head, with virtually all organisations forced to reconsider processes and, in most cases, accelerate digitisation. Indeed, RegTech holds the potential to keep the industry afloat, but there is an irony that while the need for innovation is greater than ever, the disruption caused by the pandemic can also make implementation a greater challenger than before. Many organisations find themselves in a position where they have managed to embrace telephony and video call channels to stay connected with their customers throughout lockdown and remote working. Now that the dust is beginning to settle, the next challenge becomes deploying the infrastructure to maintain a high level of quality assurance which is effective across in-person and remote environments. #### A different game The Pandemic has put a phenomenal amount of strain on the financial services industry. Processes have constantly shifted, inbound enquiries have hit record levels, teams have been re-deployed to the front line in areas outside their normal comfort zones and many teams have had to manage this without the stability and close contact of the office environment. This all leads to a higher risk environment than firms are accustomed to. The challenges on advisers are exacerbated by the fact that supervisors are finding it harder to monitor customer meetings resulting in blind spots and weaker quality assurance. Meanwhile, the disruption is the perfect hunting ground for fraudsters looking to capitalise on any weaknesses they can find in the chain. #### Quality assurance The first challenge many firms have faced is how to maintain accurate records of all customer meetings, which is made harder when a large portion of them are conducted from advisers’ homes via video call. While maintaining a full audit trail is essential for risk management, recording meetings and then doing nothing with the data simply creates different issues. When customer conversations are recorded and then left to gather dust, there is the risk that important information which was disclosed by the customer is not acted upon. If an audit takes place, the records can in fact provide evidence of unsuitable advice. So, damned if you do, damned if you don’t? The solution to risk management and compliance increasingly lies in RegTech and AI-driven analytics. Solutions like Recordsure are enabling firms to not only review conversations at exponential speeds to ensure advice offered is consistently suitable, but even to rank customer meetings according to the level of risk they pose in near-realtime, so resources can be targeted intelligently if any follow-up actions are needed. Compliance is about continual process improvements, and innovative technologies like this are essential in meeting the new challenges faced in financial services. #### Grassroots compliance For many compliance issues, the root cause ultimately lies in training and competency. Creating a positive culture among staff has a profound impact on customer experience and risk management further downstream. The catch is that achieving this wasn’t always east pre-Covid, and is significantly more difficult with remote working thrown into the equation. Tools like [Capture](/technology/conversation-intelligence/) help bridge this gap though to improve performance, conduct and culture. Keeping comprehensive yet easily navigable records of all customer interactions creates unobtrusive ways for supervisors to ensure that the advice being given by their teams aligns with the wider expectations of the firm. Meanwhile, it gives advisers extra support through the ability to self-review, a way to share queries directly with supervisors for a direct feedback loop and reassurance that if there is ever a dispute, they have the records they need to evidence their good conduct. #### Old problems and accelerated change Remote working has accelerated the drive towards digitisation and shown that innovation is key to progression. However, the issues RegTech is solving are typically much older problems which have simply been thrust into the spotlight by the pandemic. The pressures and stress caused by Covid might seem to make the act of innovating a challenge, but with staff, organisations and end-customers dependent on good advice and strong quality assurance measures, there is an urgent need for technology-driven solutions to improve capabilities. It is more important than ever that rather than firefighting, leaders are considering long-term, sustainable operational models which have flexibility at their core and are equipped to deal with a hybrid future between in-person and remote working environments. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Handling risk management during a pandemic", "item": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/", "name": "Handling risk management during a pandemic", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-08-24T10:42:52+01:00", "dateModified": "2020-08-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-08-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Handling risk management during a pandemic", "datePublished": "2020-08-24T10:42:52+01:00", "dateModified": "2026-10-09T04:50:12+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/2b3885de9ddb47e1ace20e9cae756703/thumbnail-1024-089b2582caa741d521b2a6718c2f9fadef44b25919e1d1e4a7abca14daf5b852.jpg", "description": "How remote working changed financial services risk management, quality assurance and compliance culture during Covid.", "inLanguage": "en-GB", "articleBody": "Remote working accelerated digitisation and increased the need for quality assurance, risk-based conversation review and sustainable hybrid operating models.\n\nAt the recent RegTech Talks event exploring financial fraud and the growth of RegTech post-pandemic, Recordsure CEO Joe Norburn discussed how firms can manage risks and ensure good customer outcomes remotely. Here are some of our key takeaways from the content discussed\n\nThe financial services sector has been flipped on its head, with virtually all organisations forced to reconsider processes and, in most cases, accelerate digitisation. Indeed, RegTech holds the potential to keep the industry afloat, but there is an irony that while the need for innovation is greater than ever, the disruption caused by the pandemic can also make implementation a greater challenger than before.\n\nMany organisations find themselves in a position where they have managed to embrace telephony and video call channels to stay connected with their customers throughout lockdown and remote working. Now that the dust is beginning to settle, the next challenge becomes deploying the infrastructure to maintain a high level of quality assurance which is effective across in-person and remote environments.\n\nA different game\n\nThe Pandemic has put a phenomenal amount of strain on the financial services industry. Processes have constantly shifted, inbound enquiries have hit record levels, teams have been re-deployed to the front line in areas outside their normal comfort zones and many teams have had to manage this without the stability and close contact of the office environment.\n\nThis all leads to a higher risk environment than firms are accustomed to. The challenges on advisers are exacerbated by the fact that supervisors are finding it harder to monitor customer meetings resulting in blind spots and weaker quality assurance. Meanwhile, the disruption is the perfect hunting ground for fraudsters looking to capitalise on any weaknesses they can find in the chain.\n\nQuality assurance\n\nThe first challenge many firms have faced is how to maintain accurate records of all customer meetings, which is made harder when a large portion of them are conducted from advisers\u2019 homes via video call. While maintaining a full audit trail is essential for risk management, recording meetings and then doing nothing with the data simply creates different issues.\n\nWhen customer conversations are recorded and then left to gather dust, there is the risk that important information which was disclosed by the customer is not acted upon. If an audit takes place, the records can in fact provide evidence of unsuitable advice.\n\nSo, damned if you do, damned if you don\u2019t? The solution to risk management and compliance increasingly lies in RegTech and AI-driven analytics. Solutions like Recordsure are enabling firms to not only review conversations at exponential speeds to ensure advice offered is consistently suitable, but even to rank customer meetings according to the level of risk they pose in near-realtime, so resources can be targeted intelligently if any follow-up actions are needed. Compliance is about continual process improvements, and innovative technologies like this are essential in meeting the new challenges faced in financial services.\n\nGrassroots compliance\n\nFor many compliance issues, the root cause ultimately lies in training and competency. Creating a positive culture among staff has a profound impact on customer experience and risk management further downstream. The catch is that achieving this wasn\u2019t always east pre-Covid, and is significantly more difficult with remote working thrown into the equation.\n\nTools like Capture help bridge this gap though to improve performance, conduct and culture. Keeping comprehensive yet easily navigable records of all customer interactions creates unobtrusive ways for supervisors to ensure that the advice being given by their teams aligns with the wider expectations of the firm. Meanwhile, it gives advisers extra support through the ability to self-review, a way to share queries directly with supervisors for a direct feedback loop and reassurance that if there is ever a dispute, they have the records they need to evidence their good conduct.\n\nOld problems and accelerated change\n\nRemote working has accelerated the drive towards digitisation and shown that innovation is key to progression. However, the issues RegTech is solving are typically much older problems which have simply been thrust into the spotlight by the pandemic.\n\nThe pressures and stress caused by Covid might seem to make the act of innovating a challenge, but with staff, organisations and end-customers dependent on good advice and strong quality assurance measures, there is an urgent need for technology-driven solutions to improve capabilities. It is more important than ever that rather than firefighting, leaders are considering long-term, sustainable operational models which have flexibility at their core and are equipped to deal with a hybrid future between in-person and remote working environments.", "wordCount": 775, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Pandemic risk management" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "text": "At the recent RegTech Talks event exploring financial fraud and the growth of RegTech post-pandemic, Recordsure CEO Joe Norburn discussed how firms can manage risks and ensure good customer outcomes remotely. Here are some of our key takeaways from the content discussed\n\nThe financial services sector has been flipped on its head, with virtually all organisations forced to reconsider processes and, in most cases, accelerate digitisation. Indeed, RegTech holds the potential to keep the industry afloat, but there is an irony that while the need for innovation is greater than ever, the disruption caused by the pandemic can also make implementation a greater challenger than before.\n\nMany organisations find themselves in a position where they have managed to embrace telephony and video call channels to stay connected with their customers throughout lockdown and remote working. Now that the dust is beginning to settle, the next challenge becomes deploying the infrastructure to maintain a high level of quality assurance which is effective across in-person and remote environments." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "headline": "A different game", "text": "The Pandemic has put a phenomenal amount of strain on the financial services industry. Processes have constantly shifted, inbound enquiries have hit record levels, teams have been re-deployed to the front line in areas outside their normal comfort zones and many teams have had to manage this without the stability and close contact of the office environment.\n\nThis all leads to a higher risk environment than firms are accustomed to. The challenges on advisers are exacerbated by the fact that supervisors are finding it harder to monitor customer meetings resulting in blind spots and weaker quality assurance. Meanwhile, the disruption is the perfect hunting ground for fraudsters looking to capitalise on any weaknesses they can find in the chain." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "headline": "Quality assurance", "text": "The first challenge many firms have faced is how to maintain accurate records of all customer meetings, which is made harder when a large portion of them are conducted from advisers\u2019 homes via video call. While maintaining a full audit trail is essential for risk management, recording meetings and then doing nothing with the data simply creates different issues.\n\nWhen customer conversations are recorded and then left to gather dust, there is the risk that important information which was disclosed by the customer is not acted upon. If an audit takes place, the records can in fact provide evidence of unsuitable advice.\n\nSo, damned if you do, damned if you don\u2019t? The solution to risk management and compliance increasingly lies in RegTech and AI-driven analytics. Solutions like Recordsure are enabling firms to not only review conversations at exponential speeds to ensure advice offered is consistently suitable, but even to rank customer meetings according to the level of risk they pose in near-realtime, so resources can be targeted intelligently if any follow-up actions are needed. Compliance is about continual process improvements, and innovative technologies like this are essential in meeting the new challenges faced in financial services." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "headline": "Grassroots compliance", "text": "For many compliance issues, the root cause ultimately lies in training and competency. Creating a positive culture among staff has a profound impact on customer experience and risk management further downstream. The catch is that achieving this wasn\u2019t always east pre-Covid, and is significantly more difficult with remote working thrown into the equation.\n\nTools like Capture help bridge this gap though to improve performance, conduct and culture. Keeping comprehensive yet easily navigable records of all customer interactions creates unobtrusive ways for supervisors to ensure that the advice being given by their teams aligns with the wider expectations of the firm. Meanwhile, it gives advisers extra support through the ability to self-review, a way to share queries directly with supervisors for a direct feedback loop and reassurance that if there is ever a dispute, they have the records they need to evidence their good conduct." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "headline": "Old problems and accelerated change", "text": "Remote working has accelerated the drive towards digitisation and shown that innovation is key to progression. However, the issues RegTech is solving are typically much older problems which have simply been thrust into the spotlight by the pandemic.\n\nThe pressures and stress caused by Covid might seem to make the act of innovating a challenge, but with staff, organisations and end-customers dependent on good advice and strong quality assurance measures, there is an urgent need for technology-driven solutions to improve capabilities. It is more important than ever that rather than firefighting, leaders are considering long-term, sustainable operational models which have flexibility at their core and are equipped to deal with a hybrid future between in-person and remote working environments." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/handling-risk-management-during-a-pandemic/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed during the pandemic?", "acceptedAnswer": { "@type": "Answer", "text": "Financial services firms had to reconsider processes, accelerate digitisation and use telephony and video calls to stay connected." } }, { "@type": "Question", "name": "Why is recording not enough?", "acceptedAnswer": { "@type": "Answer", "text": "If recordings are not reviewed, important disclosures may not be acted on and records can evidence unsuitable advice." } }, { "@type": "Question", "name": "How can RegTech support quality assurance?", "acceptedAnswer": { "@type": "Answer", "text": "It can review conversations quickly, assess suitability and rank meetings by risk so follow-up resources can be targeted." } }, { "@type": "Question", "name": "What should leaders plan for?", "acceptedAnswer": { "@type": "Answer", "text": "Leaders should consider sustainable operating models with flexibility for both in-person and remote working." } } ] } ] } ``` ### Online event: the financial fraud crisis and the growth of RegTech post-pandemic - URL: https://recordsure.com/insights/analysis-and-perspective/financial-fraud-crisis-and-growth-of-regtech-post-pandemic/ - Published: 2020-08-10 - Modified: 2026-10-09 **Topic:** Fraud and RegTech Financial fraud, Covid-related regulatory challenges and remote working have increased the need for RegTech that supports good outcomes, risk management and compliance infrastructure. #### Key points - The event focuses on financial crime and RegTech after the pandemic. - Financial crime was estimated at $2.1 trillion annually before the pandemic. - Remote meetings and digital channels increase pressure on compliance and support infrastructure. - Recordsure CEO Joe Norburn is among the expert speakers. We are excited to be co-hosting an event with RegTech Talks on August the 20th, ‘[The Financial Fraud Crisis and The Growth of RegTech Post-Pandemic](https://www.eventbrite.co.uk/e/the-financial-fraud-crisis-and-the-growth-of-regtech-post-pandemic-tickets-115183418706)’. RegTech Talks is an initiative that was launched to spark conversation around regulation and compliance, spearheading the movement to make innovative tech adoption in compliance a widely adopted policy. They specialise in insight laden events that feature key players in the industry, including Microsoft, Dell and Hark. #### Financial fraud and remote risk Prior to the pandemic, financial crime was estimated at [$2.1 trillion](https://www.itproportal.com/features/regtech-on-the-rise-financial-fraud-in-a-pandemic/#:~:text=Prior%20to%20the%20pandemic%2C%20financial,trillion%20on%20an%20annual%20basis.&text=Regulators%20around%20the%20globe%20have,act%20rapidly%20on%20imperfect%20information.) annually, post-pandemic, this figure has risen exponentially. The online event will feature Recordsure CEO Joe Norburn alongside industry leading experts such as Sarah Armstrong-Smith, Chief Security Advisor at Microsoft, Greg Pinn, Senior Director at Merlon.ai and Rob Fulcher, Head of Sales, Americas at Cube. RegTech holds the key to easing many of the effects of the pandemic as firms seek to ensure good customer outcomes and manage risk when working remotely. The purpose of the event is to take a look at some of the issues financial service firms face which are created or exacerbated by Covid, as well as some of the innovative RegTech solutions that are being used today to tackle these challenges. Financial services organisations have done a brilliant job in staying connected with their clients and customers despite the disruption of Coronavirus and remote working. As more meetings are conducted from people’s homes and adoption of digital communication channels soar, it is essential that firms’ compliance, support and business intelligence infrastructures keep pace with this change. By collaborating with RegTech Talks on this important event, our goal is to put some of these challenges under the spotlight and draw on the expertise of leading RegTech experts to help visualise the ways innovative technologies are supporting the industry. Tune in to the [RegTech Talks](https://www.eventbrite.co.uk/e/the-financial-fraud-crisis-and-the-growth-of-regtech-post-pandemic-tickets-115183418706) event for more info and to register. #### Supporting sources - [The Financial Fraud Crisis and The Growth of RegTech Post-Pandemic](https://www.eventbrite.co.uk/e/the-financial-fraud-crisis-and-the-growth-of-regtech-post-pandemic-tickets-115183418706) - [$2.1 trillion financial crime estimate](https://www.itproportal.com/features/regtech-on-the-rise-financial-fraud-in-a-pandemic/#:~:text=Prior%20to%20the%20pandemic%2C%20financial,trillion%20on%20an%20annual%20basis.&text=Regulators%20around%20the%20globe%20have,act%20rapidly%20on%20imperfect%20information.) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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They specialise in insight laden events that feature key players in the industry, including Microsoft, Dell and Hark." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/financial-fraud-crisis-and-growth-of-regtech-post-pandemic/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/financial-fraud-crisis-and-growth-of-regtech-post-pandemic/#webpage" }, "inLanguage": "en-GB", "headline": "Financial fraud and remote risk", "text": "Prior to the pandemic, financial crime was estimated at $2.1 trillion annually, post-pandemic, this figure has risen exponentially. 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IFAs and financial services firms as a whole have had to scramble to adjust to remote working and the challenges the pandemic has fuelled. We are often finding that organisations have done well to embrace new communication channels like video calling to stay connected with clients. However, the focus has often been on communication rather than wider infrastructure compliance like compliance and security. As lockdown eases, hybrid models that integrate office-based work as well as remote are becoming essential. Recordsure helps firms keep a clear audit trail across all communication channels, manage this data at scale and use advanced insights to drive performance, conduct and culture. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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However, the focus has often been on communication rather than wider infrastructure compliance like compliance and security.\n\nAs lockdown eases, hybrid models that integrate office-based work as well as remote are becoming essential. 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With such a responsibility, wealth managers should utilise every tool at their disposal to ensure they can deliver the best service possible in a sustainable and responsible manner.** Detailed below is our guide to why wealth managers need to use meeting recording and automated speech to text transcription tools. #### 1\. To remain compliant The heavily regulated nature of the financial services sector requires institutions to keep thorough client records. Conversations must be transparent and offer suitable, compliant advice. Demonstrating this requires a detailed audit trail covering the matters discussed so regulators can ensure that customers have consistently been treated fairly. Recordsure’s [Capture](/technology/conversation-intelligence/) tool was designed to address this, allowing managers to record, store and review conversations. This feat has been made increasingly difficult by remote working, with remote phone and video calling often lacking the infrastructure and safety checks present in the office environment. Tools like Capture give managers a strong and consistent audit trail across every channel whether remote or office-based as they adapt to a more hybrid model. #### 2\. To ensure quality control is maintained Detail plays such an important part in the financial services sector with human error alone accounting for roughly a 15 million loss in banking, and the loss of intangible assets like reputation and trust accounting for much more. Even before the pandemic, supervisors struggled to spend as much time with their advisers as they wanted. Add remote working into the equation and teams can be badly disconnected without the comfort of a shared office environment or the ability to sit in on meetings. Meeting recording offers managers a way to keep a finger on the pulse remotely, and without the need to spend all their time on the road getting to meetings. #### 3\. To optimise training It is difficult to see real-life examples of what perfect customer care looks like. Advisers are generally trained using role-play scenarios which have their limitations. Meeting recording gives managers a new tool to help train their teams: the ability to share recordings of excellent practice with other staff gives an extremely powerful way to build awareness and steer policy. Furthermore, giving advisers access to their conversation recordings gives them the means to self-review so they can constantly assess and improve their own performance. #### 4\. To save time Wealth managers are among the highest-paid service providers, along with solicitors and lawyers: their time is highly valuable. Meanwhile, it has been [reported](/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/) that Paraplanners spend up to 24 hours a week on post-meeting admin chores. To ask teams to spend time on admin that can be streamlined would be profligate. By sharing meeting transcripts and recordings of meetings, advisers can free up time from tasks like briefing and completely remove the need for a second person to join them in the meeting to take notes. All of this saves the team time letting them demonstrate better value to clients. #### 5\. To build trust and loyalty It’s vital that wealth managers build professional relationships to ensure the client has full faith and trust in their guidance on important financial matters. Wealth managers depend on their excellent client service to maintain these relationships, and meeting recording has a part to play here too. Firstly, recording meetings completely removes the need to break the rhythm of a conversation by scribbling notes or updating CRM systems. This allows advisers to focus purely on their clients in meetings and offer an added level of client experience. Secondly, recording meetings reduces the need for follow up calls when key pieces of information have not been documented, which creates more admin work while simultaneously eroding client trust. Recording these conversations though gives firms a full account of every detail which was discussed. Wealth managers can focus on providing a quality continuous service, while the recording solution ticks away in the background silently backing up the facts for you to check through at a later date. #### Supporting sources - [Finextra article on poor data cost in banking](https://www.finextra.com/blogposting/17366/assessing-the-financial-cost-of-poor-data-in-banking) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Why wealth managers should use call and meeting recording", "item": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/", "name": "Why wealth managers should use call and meeting recording", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-07-21T12:48:51+01:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Why wealth managers should use call and meeting recording", "datePublished": "2020-07-21T12:48:51+01:00", "dateModified": "2026-10-09T04:50:24+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f6ee67c0764343ed96487e7817a18f18/thumbnail-1024-1c2feeeb7181e63bba4f90109a81ac8dfe522d1179690a31f6ffa4944da8e5d6.jpg", "description": "Call and meeting recording can support compliance, quality control, training, efficiency and trust in wealth management.", "inLanguage": "en-GB", "articleBody": "Meeting recording and automated transcription can help wealth managers maintain evidence, improve quality control, support training, save time and build client trust.\n\nWealth managers are tasked to deal with a client\u2019s livelihood, they are trusted implicitly, with decisions that could completely change their lives. With such a responsibility, wealth managers should utilise every tool at their disposal to ensure they can deliver the best service possible in a sustainable and responsible manner.\n\nDetailed below is our guide to why wealth managers need to use meeting recording and automated speech to text transcription tools.\n\n1. To remain compliant\n\nThe heavily regulated nature of the financial services sector requires institutions to keep thorough client records. Conversations must be transparent and offer suitable, compliant advice. Demonstrating this requires a detailed audit trail covering the matters discussed so regulators can ensure that customers have consistently been treated fairly. Recordsure\u2019s Capture tool was designed to address this, allowing managers to record, store and review conversations. This feat has been made increasingly difficult by remote working, with remote phone and video calling often lacking the infrastructure and safety checks present in the office environment. Tools like Capture give managers a strong and consistent audit trail across every channel whether remote or office-based as they adapt to a more hybrid model.\n\n2. To ensure quality control is maintained\n\nDetail plays such an important part in the financial services sector with human error alone accounting for roughly a 15 million loss in banking, and the loss of intangible assets like reputation and trust accounting for much more. Even before the pandemic, supervisors struggled to spend as much time with their advisers as they wanted. Add remote working into the equation and teams can be badly disconnected without the comfort of a shared office environment or the ability to sit in on meetings. Meeting recording offers managers a way to keep a finger on the pulse remotely, and without the need to spend all their time on the road getting to meetings.\n\n3. To optimise training\n\nIt is difficult to see real-life examples of what perfect customer care looks like. Advisers are generally trained using role-play scenarios which have their limitations. Meeting recording gives managers a new tool to help train their teams: the ability to share recordings of excellent practice with other staff gives an extremely powerful way to build awareness and steer policy. Furthermore, giving advisers access to their conversation recordings gives them the means to self-review so they can constantly assess and improve their own performance.\n\n4. To save time\n\nWealth managers are among the highest-paid service providers, along with solicitors and lawyers: their time is highly valuable. Meanwhile, it has been reported that Paraplanners spend up to 24 hours a week on post-meeting admin chores. To ask teams to spend time on admin that can be streamlined would be profligate. By sharing meeting transcripts and recordings of meetings, advisers can free up time from tasks like briefing and completely remove the need for a second person to join them in the meeting to take notes. All of this saves the team time letting them demonstrate better value to clients.\n\n5. To build trust and loyalty\n\nIt\u2019s vital that wealth managers build professional relationships to ensure the client has full faith and trust in their guidance on important financial matters. Wealth managers depend on their excellent client service to maintain these relationships, and meeting recording has a part to play here too. Firstly, recording meetings completely removes the need to break the rhythm of a conversation by scribbling notes or updating CRM systems. This allows advisers to focus purely on their clients in meetings and offer an added level of client experience. Secondly, recording meetings reduces the need for follow up calls when key pieces of information have not been documented, which creates more admin work while simultaneously eroding client trust. Recording these conversations though gives firms a full account of every detail which was discussed. 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With such a responsibility, wealth managers should utilise every tool at their disposal to ensure they can deliver the best service possible in a sustainable and responsible manner.\n\nDetailed below is our guide to why wealth managers need to use meeting recording and automated speech to text transcription tools." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "inLanguage": "en-GB", "headline": "1. To remain compliant", "text": "The heavily regulated nature of the financial services sector requires institutions to keep thorough client records. Conversations must be transparent and offer suitable, compliant advice. Demonstrating this requires a detailed audit trail covering the matters discussed so regulators can ensure that customers have consistently been treated fairly. Recordsure\u2019s Capture tool was designed to address this, allowing managers to record, store and review conversations. This feat has been made increasingly difficult by remote working, with remote phone and video calling often lacking the infrastructure and safety checks present in the office environment. Tools like Capture give managers a strong and consistent audit trail across every channel whether remote or office-based as they adapt to a more hybrid model." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "inLanguage": "en-GB", "headline": "2. To ensure quality control is maintained", "text": "Detail plays such an important part in the financial services sector with human error alone accounting for roughly a 15 million loss in banking, and the loss of intangible assets like reputation and trust accounting for much more. Even before the pandemic, supervisors struggled to spend as much time with their advisers as they wanted. Add remote working into the equation and teams can be badly disconnected without the comfort of a shared office environment or the ability to sit in on meetings. Meeting recording offers managers a way to keep a finger on the pulse remotely, and without the need to spend all their time on the road getting to meetings." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "inLanguage": "en-GB", "headline": "3. To optimise training", "text": "It is difficult to see real-life examples of what perfect customer care looks like. Advisers are generally trained using role-play scenarios which have their limitations. 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Meanwhile, it has been reported that Paraplanners spend up to 24 hours a week on post-meeting admin chores. To ask teams to spend time on admin that can be streamlined would be profligate. By sharing meeting transcripts and recordings of meetings, advisers can free up time from tasks like briefing and completely remove the need for a second person to join them in the meeting to take notes. All of this saves the team time letting them demonstrate better value to clients." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "inLanguage": "en-GB", "headline": "5. To build trust and loyalty", "text": "It\u2019s vital that wealth managers build professional relationships to ensure the client has full faith and trust in their guidance on important financial matters. Wealth managers depend on their excellent client service to maintain these relationships, and meeting recording has a part to play here too. Firstly, recording meetings completely removes the need to break the rhythm of a conversation by scribbling notes or updating CRM systems. This allows advisers to focus purely on their clients in meetings and offer an added level of client experience. Secondly, recording meetings reduces the need for follow up calls when key pieces of information have not been documented, which creates more admin work while simultaneously eroding client trust. Recording these conversations though gives firms a full account of every detail which was discussed. Wealth managers can focus on providing a quality continuous service, while the recording solution ticks away in the background silently backing up the facts for you to check through at a later date." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/why-wealth-managers-should-use-call-and-meeting-recording/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is recording useful for compliance?", "acceptedAnswer": { "@type": "Answer", "text": "It creates a detailed audit trail of the matters discussed, helping firms evidence suitable advice and fair treatment." } }, { "@type": "Question", "name": "How can recording help supervisors?", "acceptedAnswer": { "@type": "Answer", "text": "It allows managers to review meetings remotely and maintain visibility when teams are hybrid or dispersed." } }, { "@type": "Question", "name": "How can recordings support training?", "acceptedAnswer": { "@type": "Answer", "text": "Managers can share examples of excellent practice and advisers can self-review their own conversations." } }, { "@type": "Question", "name": "How can recording save time?", "acceptedAnswer": { "@type": "Answer", "text": "Transcripts and recordings reduce note-taking, briefing and other post-meeting administration." } } ] } ] } ``` ### What roles does automated transcription play in financial services? - URL: https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/ - Published: 2020-07-15 - Modified: 2026-10-09 **Topic:** Automated transcription Automated transcription works by converting audio into written records with speech recognition and natural language processing. Better accuracy creates wider uses for efficiency, compliance, customer experience, transparency and analytics. #### Key points - Modern transcription tools use natural language processing to understand words in context. - Transcripts can make follow-up activity, search and review faster. - Stored client conversations help evidence compliance and support audit activity. - Reduced note-taking can help advisers hold more fluent client conversations. - Security and sector-specific accuracy are essential considerations. **Ten years ago, automated transcription was relatively uncommon in financial services. Limited accuracy would mean that it was difficult to derive efficiency gains or rely on the end transcript for anything meaningful. Typically, the words that wouldn’t be documented accurately would be the key industry-specific terminology you needed the most, which limited the value of the transcript.** Times have changed considerably since then. AI-driven transcription tools now offer comparable levels of accuracy to a human but with the added speed and consistency of a machine. This new wave of technology is providing unprecedented opportunities to the financial services sector that go much further than the efficiency gains first envisaged. #### How it works Automated transcription is the process of converting audio into a written format using voice and speech recognition technology. These tools use a specific branch of AI called natural language processing that is designed to deal with interactions between computers and the human natural language. This goes further than simply matching a word to the corresponding sound from an extensive dictionary of words: the technology also understands the context of each word within the sentence and wider conversation to increase the level of accuracy. Modern transcription tools read, decipher and understand the language being used to make sense of human languages in a similar way to how the human brain makes sense of them. When machine learning software is fed more datasets, it gains more experience and builds a stronger, more multi-faceted algorithm, leading to an increased level of accuracy. So, the more it is used, the smarter it gets. #### 1\. Driving efficiencies Automatically transcribing a conversation is obviously much less labour intensive than recording the information manually, but many of the efficiency gains actually come further downstream. Having the information to hand makes conducting follow up activities much swifter, even from simple sounding things like having all the data you need at your fingertips, the ability to search for a keyword without needing to go through a stack of notes or being able to copy and paste key parts of the dialogue instead of typing them out manually. #### 2\. Improving compliance Auto-transcription and storage of all client conversations are extremely beneficial to regulatory compliance. With the perception that regulators typically side with complainants when information is incomplete, being able to maintain a comprehensive audit trail is extremely valuable. Transcripts not only help evidence that customer conversations were compliant but they help speed up review and auditing speed dramatically. #### 3\. Boosting customer experience Automated transcriptions can reduce the need for manual note-taking, enabling advisers to have more fluent conversations with their clients without any interruptions to scribble notes or update CRM systems. Our Extract tool even has the ability to draw out key pieces of data and store them in one dashboard for easy use, speeding up further administrative tasks. #### 4\. Increasing transparency Having the conversations transcribed and stored means firms have the option of sharing records of conversations and agreements with customers, which is a great way to demonstrate transparency and openness with clients. It can also help clarify exactly what topics were or were not agreed discussed in disputes to help reach swifter resolutions and reduce complaints escalating. #### 5\. The foundation for future analytics Transcribing conversations through AI uses data in a format that other analytics and automation tools can utilise. These become a source of valuable data for more advanced analytical insights and business process improvements including both historic data in past business reviews or daily business-as-usual activities. #### Considerations **Accuracy** – Automated transcriptions are only beneficial if they are accurate, otherwise, additional time is spent rectifying the mistakes. It is integral to use an industry-specific tool that is trained on the specific language used within your sector. Our [Capture](/technology/conversation-intelligence/) solution is built to work with compliance and financial services, tackling highly specialised languages and the specific nuances used in the industry. To increase accuracy further, the software has also been trained on various dialects and accents. This is why our knowledge model with six years’ worth of data from real-life conversations in financial services is so important in the work we do. **Security** – When dealing with such sensitive information that is discussed in client meetings you need to be sure the transcriptions and any records are being stored securely. Recordings made on the software are encrypted at every part of the process, from the device to our cloud-based secure storage. If cloud-based is not an option, we also offer military-grade storage in our data centres. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "What roles does automated transcription play in financial services?", "item": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/", "name": "What roles does automated transcription play in financial services?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-07-15T10:48:18+01:00", "dateModified": "2021-02-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "What roles does automated transcription play in financial services?", "datePublished": "2020-07-15T10:48:18+01:00", "dateModified": "2026-10-09T04:50:23+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8ceaea993df8489d86b271869ac26081/thumbnail-1024-56f45ab44b602f7033ffad4c90e161f354ddd2464fcb1ab333fb15db5f2cf77a.jpg", "description": "Automated transcription in financial services has moved beyond basic efficiency, helping firms evidence conversations, support reviews and prepare data for analytics.", "inLanguage": "en-GB", "articleBody": "Automated transcription works by converting audio into written records with speech recognition and natural language processing. Better accuracy creates wider uses for efficiency, compliance, customer experience, transparency and analytics.\n\nTen years ago, automated transcription was relatively uncommon in financial services. Limited accuracy would mean that it was difficult to derive efficiency gains or rely on the end transcript for anything meaningful. Typically, the words that wouldn\u2019t be documented accurately would be the key industry-specific terminology you needed the most, which limited the value of the transcript.\n\nTimes have changed considerably since then. AI-driven transcription tools now offer comparable levels of accuracy to a human but with the added speed and consistency of a machine. This new wave of technology is providing unprecedented opportunities to the financial services sector that go much further than the efficiency gains first envisaged.\n\nHow it works\n\nAutomated transcription is the process of converting audio into a written format using voice and speech recognition technology. These tools use a specific branch of AI called natural language processing that is designed to deal with interactions between computers and the human natural language. This goes further than simply matching a word to the corresponding sound from an extensive dictionary of words: the technology also understands the context of each word within the sentence and wider conversation to increase the level of accuracy.\n\nModern transcription tools read, decipher and understand the language being used to make sense of human languages in a similar way to how the human brain makes sense of them. When machine learning software is fed more datasets, it gains more experience and builds a stronger, more multi-faceted algorithm, leading to an increased level of accuracy. So, the more it is used, the smarter it gets.\n\n1. Driving efficiencies\n\nAutomatically transcribing a conversation is obviously much less labour intensive than recording the information manually, but many of the efficiency gains actually come further downstream. Having the information to hand makes conducting follow up activities much swifter, even from simple sounding things like having all the data you need at your fingertips, the ability to search for a keyword without needing to go through a stack of notes or being able to copy and paste key parts of the dialogue instead of typing them out manually.\n\n2. Improving compliance\n\nAuto-transcription and storage of all client conversations are extremely beneficial to regulatory compliance. With the perception that regulators typically side with complainants when information is incomplete, being able to maintain a comprehensive audit trail is extremely valuable. Transcripts not only help evidence that customer conversations were compliant but they help speed up review and auditing speed dramatically.\n\n3. Boosting customer experience\n\nAutomated transcriptions can reduce the need for manual note-taking, enabling advisers to have more fluent conversations with their clients without any interruptions to scribble notes or update CRM systems. Our\n\nExtract\n\ntool even has the ability to draw out key pieces of data and store them in one dashboard for easy use, speeding up further administrative tasks.\n\n4. Increasing transparency\n\nHaving the conversations transcribed and stored means firms have the option of sharing records of conversations and agreements with customers, which is a great way to demonstrate transparency and openness with clients. It can also help clarify exactly what topics were or were not agreed discussed in disputes to help reach swifter resolutions and reduce complaints escalating.\n\n5. The foundation for future analytics\n\nTranscribing conversations through AI uses data in a format that other analytics and automation tools can utilise. These become a source of valuable data for more advanced analytical insights and business process improvements including both historic data in past business reviews or daily business-as-usual activities.\n\nConsiderations\n\nAccuracy \u2013 Automated transcriptions are only beneficial if they are accurate, otherwise, additional time is spent rectifying the mistakes. It is integral to use an industry-specific tool that is trained on the specific language used within your sector. Our Capture solution is built to work with compliance and financial services, tackling highly specialised languages and the specific nuances used in the industry. To increase accuracy further, the software has also been trained on various dialects and accents. This is why our knowledge model with six years\u2019 worth of data from real-life conversations in financial services is so important in the work we do.\n\nSecurity \u2013 When dealing with such sensitive information that is discussed in client meetings you need to be sure the transcriptions and any records are being stored securely. Recordings made on the software are encrypted at every part of the process, from the device to our cloud-based secure storage. If cloud-based is not an option, we also offer military-grade storage in our data centres.", "wordCount": 779, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Automated transcription" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-8" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "Ten years ago, automated transcription was relatively uncommon in financial services. Limited accuracy would mean that it was difficult to derive efficiency gains or rely on the end transcript for anything meaningful. Typically, the words that wouldn\u2019t be documented accurately would be the key industry-specific terminology you needed the most, which limited the value of the transcript.\n\nTimes have changed considerably since then. AI-driven transcription tools now offer comparable levels of accuracy to a human but with the added speed and consistency of a machine. This new wave of technology is providing unprecedented opportunities to the financial services sector that go much further than the efficiency gains first envisaged." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "How it works", "text": "Automated transcription is the process of converting audio into a written format using voice and speech recognition technology. These tools use a specific branch of AI called natural language processing that is designed to deal with interactions between computers and the human natural language. This goes further than simply matching a word to the corresponding sound from an extensive dictionary of words: the technology also understands the context of each word within the sentence and wider conversation to increase the level of accuracy.\n\nModern transcription tools read, decipher and understand the language being used to make sense of human languages in a similar way to how the human brain makes sense of them. When machine learning software is fed more datasets, it gains more experience and builds a stronger, more multi-faceted algorithm, leading to an increased level of accuracy. So, the more it is used, the smarter it gets." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "1. Driving efficiencies", "text": "Automatically transcribing a conversation is obviously much less labour intensive than recording the information manually, but many of the efficiency gains actually come further downstream. Having the information to hand makes conducting follow up activities much swifter, even from simple sounding things like having all the data you need at your fingertips, the ability to search for a keyword without needing to go through a stack of notes or being able to copy and paste key parts of the dialogue instead of typing them out manually." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "2. Improving compliance", "text": "Auto-transcription and storage of all client conversations are extremely beneficial to regulatory compliance. With the perception that regulators typically side with complainants when information is incomplete, being able to maintain a comprehensive audit trail is extremely valuable. Transcripts not only help evidence that customer conversations were compliant but they help speed up review and auditing speed dramatically." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "3. Boosting customer experience", "text": "Automated transcriptions can reduce the need for manual note-taking, enabling advisers to have more fluent conversations with their clients without any interruptions to scribble notes or update CRM systems. Our\n\nExtract\n\ntool even has the ability to draw out key pieces of data and store them in one dashboard for easy use, speeding up further administrative tasks." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "4. Increasing transparency", "text": "Having the conversations transcribed and stored means firms have the option of sharing records of conversations and agreements with customers, which is a great way to demonstrate transparency and openness with clients. It can also help clarify exactly what topics were or were not agreed discussed in disputes to help reach swifter resolutions and reduce complaints escalating." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "5. The foundation for future analytics", "text": "Transcribing conversations through AI uses data in a format that other analytics and automation tools can utilise. These become a source of valuable data for more advanced analytical insights and business process improvements including both historic data in past business reviews or daily business-as-usual activities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Considerations", "text": "Accuracy \u2013 Automated transcriptions are only beneficial if they are accurate, otherwise, additional time is spent rectifying the mistakes. It is integral to use an industry-specific tool that is trained on the specific language used within your sector. Our Capture solution is built to work with compliance and financial services, tackling highly specialised languages and the specific nuances used in the industry. To increase accuracy further, the software has also been trained on various dialects and accents. This is why our knowledge model with six years\u2019 worth of data from real-life conversations in financial services is so important in the work we do.\n\nSecurity \u2013 When dealing with such sensitive information that is discussed in client meetings you need to be sure the transcriptions and any records are being stored securely. Recordings made on the software are encrypted at every part of the process, from the device to our cloud-based secure storage. If cloud-based is not an option, we also offer military-grade storage in our data centres." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-roles-does-automated-transcription-play-in-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How does automated transcription work?", "acceptedAnswer": { "@type": "Answer", "text": "It converts audio into written format using voice and speech recognition technology, including natural language processing to understand context." } }, { "@type": "Question", "name": "Why can it help compliance?", "acceptedAnswer": { "@type": "Answer", "text": "Transcripts and stored conversations can evidence compliant customer discussions and make review and audit activity faster." } }, { "@type": "Question", "name": "What should firms consider before using it?", "acceptedAnswer": { "@type": "Answer", "text": "Accuracy, sector-specific language, dialects, accents and secure storage of sensitive information are essential considerations." } } ] } ] } ``` ### Remote working in financial services: what trends are we seeing? - URL: https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/ - Published: 2020-07-07 - Modified: 2026-10-09 **Topic:** Remote working trends Recordsure observed clear trends as advisers and call centre teams moved from office-based work to remote client conversations. #### Key points - Remote conversations helped firms stay connected, but recording remained important for compliance and risk management. - Recordsure observed less friction towards recording when meetings moved to phone or video. - Telephone conversations often had fewer interruptions, improving transcription and analytics reliability. - Remote culture, manager support and new Covid-19 terminology affected conversation oversight. **Many advisers and call centre teams have had to move operations from the office to the home. With so many ways to speak with clients and customers remotely, firms have been swift to adapt and stay connected despite the disruption.** In regulated sectors like financial services, staying connected with clients is just the start though. Firms should really be recording all conversations for compliance purposes and risk management as a bare minimum, although best practice is to go further than this and harness recordings as a springboard to improve customer care, customer insights and customer outcomes. As a provider of both recording software and advanced AI analytics tools that break down conversation data at scale, we have been on the frontline to support banks as they have made the transition to remote working. Here are some of the insights we have gathered from this unique vantage point: #### Reactions have been overwhelmingly positive With face-to-face meetings taken out of the equation, teams have had to adapt swiftly. While there will always be a place for meeting clients in the flesh, speaking remotely also has its perks. Less time is spent travelling for instance which frees up more time that can be spent with customers. This has been essential in recent times as the number of enquiries has gone up across the board, so the increase in adviser capacity has been highly valuable. Another benefit to telephony and video calls has been less friction towards conversation recording. We have found that when positioned correctly by the adviser, virtually every customer will request conversations to be recorded in face-to-face meetings. However, there is still an explanation needed, and it might seem like a novelty to some customers. On the other hand, there is now an expectation that calls will be recorded. It wasn’t really a barrier before, but when communications are either online or by phone, recording the meeting has even less friction. This just makes keeping a full record of all dialogue that little bit easier. #### Are people politer over the phone? When you speak to someone face-to-face, body language has a role to play in the rhythm of the conversation. This isn’t the case in telephony, where you can’t see the person you are speaking to. What does this change look like? Almost counter-intuitively, we are finding that people are generally politer on the phone. You are more inclined to interrupt someone when they are in front of you when you are taking cues from things like hand gestures. By phone though, we are getting fewer instances of people talking over one another: people say their piece and then wait for the response much more often. Interesting as this is from a psychological point of view, it also has an impact on transcription accuracy and analytical insights. The more people talk over one another, the more analytics and transcription tools have to work to make sense of the words that are being used. Recordsure was always designed to deal with the challenges of face-to-face meetings, but conversations where there are clear gaps between speakers make it easier to get reliable transcripts and analytical insights. #### The importance of culture Another change we have seen is that initially, advisers seemed a little less relaxed on phone calls while working remotely. This is obviously a) a generalisation and b) subjective to some extent. Our hypothesis is that this can be explained by the move to a new environment, which can always be unnerving. Indeed, we have seen this trend reduce over time, but it is important to note that many teams will benefit from the atmosphere in the office and having managers on hand to support them. Take away that familiar support network and a little unease is understandable. Working remotely, it is more important than ever to keep a positive culture. Regular team meets and contact time with managers will help maintain this. Our Capture tool was instrumental pre-lockdown in bringing advisers and supervisors closer by freeing up more time for supervisors to spend supporting their teams. It also enables them to review meetings without needing to sit in the same room, where their very presence would alter the rhythm of the conversation. This is now proving more valuable than ever for managers as it is allowing them to offer that added level of support and bolster team culture even while operating remotely. #### Covid-19 has changed the language we speak The success of any analytics or transcription tool is dependent on the ability to understand specialist terminology, which is why it is so important to find providers who are experts in the given field. A good example we often give is the word “ISA”, which will typically be misunderstood by general transcription platforms as the word “ice”. Our knowledge model is trained on over six years of data from real-life financial services conversations, which is what enables us to provide such reliable results in this sector. What has been interesting of late though is the number of new words we have had to train our AI engines to understand. Terms like “furlough”, “lockdown” and “self-isolating” were rarely used before Covid-19, but now are commonplace in financial services conversations. As these sorts of words are now coming up all the time, analytical tools have had to adapt expand their vocabularies. In short, Coronavirus has changed the language in the financial services industry, adding multiple new terms, and the sector needs to keep up. **Recordsure’s**[Capture](/technology/conversation-intelligence/) solution records conversations across face-to-face, video and telephony. It then transcribes these audio files and stores them securely with metadata automatically added to make navigating the information quick and easy. This is helping firms maintain the highest possible levels of assurance, even amongst the disruption caused by remote working, and is helping managers keep a finger on the pulse across their team to offer maximum support. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Remote working in financial services: what trends are we seeing?", "item": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/", "name": "Remote working in financial services: what trends are we seeing?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-07-07T10:37:44+01:00", "dateModified": "2020-07-07T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-07-07" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Remote working in financial services: what trends are we seeing?", "datePublished": "2020-07-07T10:37:44+01:00", "dateModified": "2026-10-09T04:50:20+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/323974165221484e970c57e4812c14ab/thumbnail-1024-963fc8b6f11ac738627f911f207c20b2ac0418324ae94df2b58c44b3e1ef6f31.jpg", "description": "Recordsure shares observations from helping financial services teams record and assure remote conversations, including behaviour, culture and language changes.", "inLanguage": "en-GB", "articleBody": "Recordsure observed clear trends as advisers and call centre teams moved from office-based work to remote client conversations.\n\nMany advisers and call centre teams have had to move operations from the office to the home. With so many ways to speak with clients and customers remotely, firms have been swift to adapt and stay connected despite the disruption.\n\nIn regulated sectors like financial services, staying connected with clients is just the start though. Firms should really be recording all conversations for compliance purposes and risk management as a bare minimum, although best practice is to go further than this and harness recordings as a springboard to improve customer care, customer insights and customer outcomes.\n\nAs a provider of both recording software and advanced AI analytics tools that break down conversation data at scale, we have been on the frontline to support banks as they have made the transition to remote working. Here are some of the insights we have gathered from this unique vantage point:\n\nReactions have been overwhelmingly positive\n\nWith face-to-face meetings taken out of the equation, teams have had to adapt swiftly. While there will always be a place for meeting clients in the flesh, speaking remotely also has its perks. Less time is spent travelling for instance which frees up more time that can be spent with customers. This has been essential in recent times as the number of enquiries has gone up across the board, so the increase in adviser capacity has been highly valuable.\n\nAnother benefit to telephony and video calls has been less friction towards conversation recording. We have found that when positioned correctly by the adviser, virtually every customer will request conversations to be recorded in face-to-face meetings. However, there is still an explanation needed, and it might seem like a novelty to some customers.\n\nOn the other hand, there is now an expectation that calls will be recorded. It wasn\u2019t really a barrier before, but when communications are either online or by phone, recording the meeting has even less friction. This just makes keeping a full record of all dialogue that little bit easier.\n\nAre people politer over the phone?\n\nWhen you speak to someone face-to-face, body language has a role to play in the rhythm of the conversation. This isn\u2019t the case in telephony, where you can\u2019t see the person you are speaking to.\n\nWhat does this change look like?\n\nAlmost counter-intuitively, we are finding that people are generally politer on the phone. You are more inclined to interrupt someone when they are in front of you when you are taking cues from things like hand gestures. By phone though, we are getting fewer instances of people talking over one another: people say their piece and then wait for the response much more often.\n\nInteresting as this is from a psychological point of view, it also has an impact on transcription accuracy and analytical insights. The more people talk over one another, the more analytics and transcription tools have to work to make sense of the words that are being used. Recordsure was always designed to deal with the challenges of face-to-face meetings, but conversations where there are clear gaps between speakers make it easier to get reliable transcripts and analytical insights.\n\nThe importance of culture\n\nAnother change we have seen is that initially, advisers seemed a little less relaxed on phone calls while working remotely. This is obviously a) a generalisation and b) subjective to some extent.\n\nOur hypothesis is that this can be explained by the move to a new environment, which can always be unnerving. Indeed, we have seen this trend reduce over time, but it is important to note that many teams will benefit from the atmosphere in the office and having managers on hand to support them. Take away that familiar support network and a little unease is understandable.\n\nWorking remotely, it is more important than ever to keep a positive culture. Regular team meets and contact time with managers will help maintain this. Our Capture tool was instrumental pre-lockdown in bringing advisers and supervisors closer by freeing up more time for supervisors to spend supporting their teams. It also enables them to review meetings without needing to sit in the same room, where their very presence would alter the rhythm of the conversation. This is now proving more valuable than ever for managers as it is allowing them to offer that added level of support and bolster team culture even while operating remotely.\n\nCovid-19 has changed the language we speak\n\nThe success of any analytics or transcription tool is dependent on the ability to understand specialist terminology, which is why it is so important to find providers who are experts in the given field. A good example we often give is the word \u201cISA\u201d, which will typically be misunderstood by general transcription platforms as the word \u201cice\u201d.\n\nOur knowledge model is trained on over six years of data from real-life financial services conversations, which is what enables us to provide such reliable results in this sector. What has been interesting of late though is the number of new words we have had to train our AI engines to understand.\n\nTerms like \u201cfurlough\u201d, \u201clockdown\u201d and \u201cself-isolating\u201d were rarely used before Covid-19, but now are commonplace in financial services conversations. As these sorts of words are now coming up all the time, analytical tools have had to adapt expand their vocabularies. In short, Coronavirus has changed the language in the financial services industry, adding multiple new terms, and the sector needs to keep up.\n\nRecordsure\u2019sCapture solution records conversations across face-to-face, video and telephony. It then transcribes these audio files and stores them securely with metadata automatically added to make navigating the information quick and easy. This is helping firms maintain the highest possible levels of assurance, even amongst the disruption caused by remote working, and is helping managers keep a finger on the pulse across their team to offer maximum support.", "wordCount": 994, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Remote working trends" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "text": "Many advisers and call centre teams have had to move operations from the office to the home. With so many ways to speak with clients and customers remotely, firms have been swift to adapt and stay connected despite the disruption.\n\nIn regulated sectors like financial services, staying connected with clients is just the start though. Firms should really be recording all conversations for compliance purposes and risk management as a bare minimum, although best practice is to go further than this and harness recordings as a springboard to improve customer care, customer insights and customer outcomes.\n\nAs a provider of both recording software and advanced AI analytics tools that break down conversation data at scale, we have been on the frontline to support banks as they have made the transition to remote working. Here are some of the insights we have gathered from this unique vantage point:" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "headline": "Reactions have been overwhelmingly positive", "text": "With face-to-face meetings taken out of the equation, teams have had to adapt swiftly. While there will always be a place for meeting clients in the flesh, speaking remotely also has its perks. Less time is spent travelling for instance which frees up more time that can be spent with customers. This has been essential in recent times as the number of enquiries has gone up across the board, so the increase in adviser capacity has been highly valuable.\n\nAnother benefit to telephony and video calls has been less friction towards conversation recording. We have found that when positioned correctly by the adviser, virtually every customer will request conversations to be recorded in face-to-face meetings. However, there is still an explanation needed, and it might seem like a novelty to some customers.\n\nOn the other hand, there is now an expectation that calls will be recorded. It wasn\u2019t really a barrier before, but when communications are either online or by phone, recording the meeting has even less friction. This just makes keeping a full record of all dialogue that little bit easier." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "headline": "Are people politer over the phone?", "text": "When you speak to someone face-to-face, body language has a role to play in the rhythm of the conversation. This isn\u2019t the case in telephony, where you can\u2019t see the person you are speaking to.\n\nWhat does this change look like?\n\nAlmost counter-intuitively, we are finding that people are generally politer on the phone. You are more inclined to interrupt someone when they are in front of you when you are taking cues from things like hand gestures. By phone though, we are getting fewer instances of people talking over one another: people say their piece and then wait for the response much more often.\n\nInteresting as this is from a psychological point of view, it also has an impact on transcription accuracy and analytical insights. The more people talk over one another, the more analytics and transcription tools have to work to make sense of the words that are being used. Recordsure was always designed to deal with the challenges of face-to-face meetings, but conversations where there are clear gaps between speakers make it easier to get reliable transcripts and analytical insights." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "headline": "The importance of culture", "text": "Another change we have seen is that initially, advisers seemed a little less relaxed on phone calls while working remotely. This is obviously a) a generalisation and b) subjective to some extent.\n\nOur hypothesis is that this can be explained by the move to a new environment, which can always be unnerving. Indeed, we have seen this trend reduce over time, but it is important to note that many teams will benefit from the atmosphere in the office and having managers on hand to support them. Take away that familiar support network and a little unease is understandable.\n\nWorking remotely, it is more important than ever to keep a positive culture. Regular team meets and contact time with managers will help maintain this. Our Capture tool was instrumental pre-lockdown in bringing advisers and supervisors closer by freeing up more time for supervisors to spend supporting their teams. It also enables them to review meetings without needing to sit in the same room, where their very presence would alter the rhythm of the conversation. This is now proving more valuable than ever for managers as it is allowing them to offer that added level of support and bolster team culture even while operating remotely." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "headline": "Covid-19 has changed the language we speak", "text": "The success of any analytics or transcription tool is dependent on the ability to understand specialist terminology, which is why it is so important to find providers who are experts in the given field. A good example we often give is the word \u201cISA\u201d, which will typically be misunderstood by general transcription platforms as the word \u201cice\u201d.\n\nOur knowledge model is trained on over six years of data from real-life financial services conversations, which is what enables us to provide such reliable results in this sector. What has been interesting of late though is the number of new words we have had to train our AI engines to understand.\n\nTerms like \u201cfurlough\u201d, \u201clockdown\u201d and \u201cself-isolating\u201d were rarely used before Covid-19, but now are commonplace in financial services conversations. As these sorts of words are now coming up all the time, analytical tools have had to adapt expand their vocabularies. In short, Coronavirus has changed the language in the financial services industry, adding multiple new terms, and the sector needs to keep up.\n\nRecordsure\u2019sCapture solution records conversations across face-to-face, video and telephony. It then transcribes these audio files and stores them securely with metadata automatically added to make navigating the information quick and easy. This is helping firms maintain the highest possible levels of assurance, even amongst the disruption caused by remote working, and is helping managers keep a finger on the pulse across their team to offer maximum support." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-working-in-financial-services-what-trends-are-we-seeing/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What changed around recording?", "acceptedAnswer": { "@type": "Answer", "text": "Telephony and video calls created less friction towards conversation recording because customers increasingly expected calls to be recorded." } }, { "@type": "Question", "name": "Why can phone calls improve transcription?", "acceptedAnswer": { "@type": "Answer", "text": "Phone conversations often involve fewer interruptions and less talking over one another, which can improve transcripts and analytics." } }, { "@type": "Question", "name": "Why does remote culture matter?", "acceptedAnswer": { "@type": "Answer", "text": "Advisers may feel less relaxed away from the office support network, so team meetings and manager contact remain important." } }, { "@type": "Question", "name": "How did Covid-19 affect analytics models?", "acceptedAnswer": { "@type": "Answer", "text": "Terms such as furlough, lockdown and self-isolating became common, so analytics tools had to expand their vocabularies." } } ] } ] } ``` ### Wealth managers: how digitalisation can revolutionise meeting follow up - URL: https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/ - Published: 2020-06-30 - Modified: 2026-10-09 **Topic:** Meeting follow-up Post-meeting administration consumes significant paraplanner time, and digital tools can reduce that burden. Efficiency gains give teams more time with clients, stronger data and more effective compliance. #### Key points - Paraplanners may spend nearly 24 hours each week on post-meeting administration. - Digitalisation can support transcription, cash-flow modelling and data management. - Technology has the potential to save paraplanners 14 hours per week. - Better data can make regulatory compliance more effective. Wealth Managers’ teams are losing considerable amounts of time each week in post-meeting administration. On average, paraplanners conduct 5 client meetings per week, each one requiring around 4 hours and 45 minutes of post-meeting administration. When you total this up across an entire week, this adds up to nearly 24 hours of administration work. Essentially, paraplanners are losing an entire day to administration chores, time that could be better spent working with clients. Digitalisation gives paraplanners the opportunity to streamline their operations and release valuable capacity. Digital tools can be implemented into every aspect of their work, whether it is providing automatic transcriptions of conversations, developing cash flow models more efficiently, or post-meeting data management. The implementation of technology has the potential to save paraplanners 14 hours per week! These additional hours, allow teams to spend more valuable time with their clients, helping to build trust and strengthen relationships. Harnessing data also means wealth managers can improve client lifetime value by better understanding client needs. Digitalisation of these administration activities also makes regulatory compliance more effective, by improving the quality of data and making it easily accessible. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Wealth managers: how digitalisation can revolutionise meeting follow up", "item": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/", "name": "Wealth managers: how digitalisation can revolutionise meeting follow up", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-06-30T14:47:39+01:00", "dateModified": "2021-02-02T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-02" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Wealth managers: how digitalisation can revolutionise meeting follow up", "datePublished": "2020-06-30T14:47:39+01:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/6a64f04e0309448f9e134b768464780c/thumbnail-1600-c7d1e594bb57438ba11b0e6fd9a5095595189d43012d1eb106c7c9b6cdd60f4a.jpg", "description": "Digital tools can reduce wealth management post-meeting administration, freeing paraplanners to spend more time with clients and improving access to compliance data.", "inLanguage": "en-GB", "articleBody": "Post-meeting administration consumes significant paraplanner time, and digital tools can reduce that burden. Efficiency gains give teams more time with clients, stronger data and more effective compliance.\n\nWealth Managers\u2019 teams are losing considerable amounts of time each week in post-meeting administration. On average, paraplanners conduct 5 client meetings per week, each one requiring around 4 hours and 45 minutes of post-meeting administration. When you total this up across an entire week, this adds up to nearly 24 hours of administration work.\n\nEssentially, paraplanners are losing an entire day to administration chores, time that could be better spent working with clients. Digitalisation gives paraplanners the opportunity to streamline their operations and release valuable capacity. Digital tools can be implemented into every aspect of their work, whether it is providing automatic transcriptions of conversations, developing cash flow models more efficiently, or post-meeting data management. The implementation of technology has the potential to save paraplanners 14 hours per week!\n\nThese additional hours, allow teams to spend more valuable time with their clients, helping to build trust and strengthen relationships. Harnessing data also means wealth managers can improve client lifetime value by better understanding client needs. Digitalisation of these administration activities also makes regulatory compliance more effective, by improving the quality of data and making it easily accessible.", "wordCount": 214, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Meeting follow-up" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#analysis-1" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#webpage" }, "inLanguage": "en-GB", "text": "Wealth Managers\u2019 teams are losing considerable amounts of time each week in post-meeting administration. On average, paraplanners conduct 5 client meetings per week, each one requiring around 4 hours and 45 minutes of post-meeting administration. When you total this up across an entire week, this adds up to nearly 24 hours of administration work.\n\nEssentially, paraplanners are losing an entire day to administration chores, time that could be better spent working with clients. Digitalisation gives paraplanners the opportunity to streamline their operations and release valuable capacity. Digital tools can be implemented into every aspect of their work, whether it is providing automatic transcriptions of conversations, developing cash flow models more efficiently, or post-meeting data management. The implementation of technology has the potential to save paraplanners 14 hours per week!\n\nThese additional hours, allow teams to spend more valuable time with their clients, helping to build trust and strengthen relationships. Harnessing data also means wealth managers can improve client lifetime value by better understanding client needs. Digitalisation of these administration activities also makes regulatory compliance more effective, by improving the quality of data and making it easily accessible." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-digitalisation-can-revolutionise-meeting-follow-up/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How much time do paraplanners spend on administration?", "acceptedAnswer": { "@type": "Answer", "text": "It says paraplanners average 5 client meetings a week, each requiring around 4 hours and 45 minutes of follow-up, or nearly 24 hours in total." } }, { "@type": "Question", "name": "What activities can digital tools support?", "acceptedAnswer": { "@type": "Answer", "text": "Digital tools can support automatic transcription, more efficient cash-flow modelling and post-meeting data management." } }, { "@type": "Question", "name": "How can digitalisation support compliance?", "acceptedAnswer": { "@type": "Answer", "text": "It can improve data quality and make data easier to access, which can make regulatory compliance more effective." } } ] } ] } ``` ### How will Covid-19 change remediation risk? - URL: https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/ - Published: 2020-06-19 - Modified: 2026-10-09 **Topic:** Remediation risk Covid-19 could increase complaints risk, making vulnerability, forbearance policy, data and complaint-handling capacity immediate priorities for firms. #### Key points - Market volatility, financial insecurity and increased vulnerability can create a higher complaints risk after Covid-19. - Firms should keep vulnerability policy central at every customer touchpoint before, during and after complaints. - Forbearance policies need review as payment holidays expire and firms manage the transition. - Complaint trends, MI and specialist resource can help firms prepare for higher volumes and avoid poor outcomes. **Dissatisfied customers are the ultimate test for your staff, and the policies and procedures that support them in their day-to-day roles. In our 20 years helping firms manage conduct risk, we’ve seen businesses sink or swim based on how their remediation and complaint handling teams deliver customer outcomes. Perfecting your approach and enabling your staff to handle complaints well will set your business up for sustained success.** Covid-19 has put extra, unwelcome pressure on the market and consumer finances. Combine market volatility and financial insecurity with increased customer vulnerability, and you have yourself a perfect complaints storm. So while some issues might not necessarily have come to light in a normal climate, it’s likely that you’ll see an uptick of complaints in the wake of Covid-19. Understanding where your risks are now will help you take the right steps towards reducing complaints, now and in the future. What’s more, you’ll be better prepared to handle them properly when they do arise, meaning fewer FOS escalations and less chance of FCA enforcement. So, do you know what risks are coming down the line, and what can you do to avoid them? #### The role of vulnerability At this time, many of your customers are dealing with job insecurity; some with loss of income all together. They may well have had their claims against their Income Protection policy rejected, only now discovering it doesn’t cover redundancy – another knockout blow to an already stressful situation. And ultimately, customers in distressed situations will often feel backed into a corner, so are more likely to raise a complaint or seek redress. How the FOS determine what a ‘fair and reasonable’ outcome of a complaint remains to be seen and could easily change. But inevitably, the spike in vulnerability will impact the stance taken by both the ombudsman and the regulator. While the FCA is currently showing some leniency around the 8 week deadline for a final response, this is far from a get out of jail free card. And if anything, the FOS is likely to take a more sympathetic approach. Expect them to pay extra attention to how the customer was treated, and whether the individual’s circumstances were taken into account. It’d be wise to update your vulnerability policy and make sure it’s kept front and centre at every customer touchpoint – before, during and after a complaint is raised. Over at TCC, we talk about how that can be done. #### Review your forbearance policy While the FCA and the Government have granted another three months of payment holidays for mortgage customers under financial duress, these temporary measures still have an expiry date. Firms will need to consider how they manage the transition. Review your forbearance policies in preparation, keeping in mind that in certain circumstances, extended or unlimited forbearance is unlikely to bring about good customer outcomes in itself. Any policy update should take into account that treating your customers fairly and meeting the needs of shareholders is a delicate balance. #### Use data While most government measures have been welcomed, consumers that are struggling financially could still complain that the mortgage was unaffordable or there was a lack of risk warnings. Now’s the time to use innovative tech and data analytics to your advantage. Compliance-driven analytics tools like Recordsure can tell you exactly what’s being discussed during a customer call, helping you to spot complaints as they emerge. Similarly, we use this kind of advanced technology for our [high-performance assurance](https://tcc.group/solutions/strengthen-your-present/business-assurance/), using data to quickly identify themes and duplicates in the complaint handling process. Get on the front foot by using this MI intelligently – tracking the trends in complaints, and allocating and training your resource accordingly. #### Prepare for the worst In these uncertain times we should all be hoping for the best, but still planning for the worst. So, make sure you’ve got enough resource to handle complaints properly and efficiently to avoid costly FOS escalations. Re-deploying and upskilling existing staff can give your complaints management and customer support functions more flexibility and resilience during this challenging time. Alternatively, give your team a boost with [temporary resource](https://tcc.group/solutions/strengthen-your-present/specialist-resourcing/) or consider [outsourcing](https://tcc.group/solutions/strengthen-your-present/specialist-resourcing/) for an effective solution which doesn’t take away from activities elsewhere in the business. Equally, when you’re dealing with a higher than normal case load, you need ultimate speed and accuracy. Innovative tools like Recordsure make this possible, but if you are looking for a fully managed service, our [high-performance remediation solution](https://tcc.group/solutions/fix-your-past/rectification/) supercharges traditional file review processes, combining smart population selection and an improved audit trail to make things quicker. This means less time-consuming admin for reviewers, and a faster outcome for your customers. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How will Covid-19 change remediation risk?", "item": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/", "name": "How will Covid-19 change remediation risk?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-06-19T10:34:55+01:00", "dateModified": "2020-06-19T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-06-19" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How will Covid-19 change remediation risk?", "datePublished": "2020-06-19T10:34:55+01:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/55050e1e575f468a8f997895d05ebc32/thumbnail-1024-4e72f49adeee35c4eef561d5b7be18822869e01fa0ccd66371cd3eb255e6b732.jpg", "description": "Covid-19 increased pressure on customer finances and complaint teams, making vulnerability, forbearance, data and resourcing central to remediation risk.", "inLanguage": "en-GB", "articleBody": "Covid-19 could increase complaints risk, making vulnerability, forbearance policy, data and complaint-handling capacity immediate priorities for firms.\n\nDissatisfied customers are the ultimate test for your staff, and the policies and procedures that support them in their day-to-day roles. In our 20 years helping firms manage conduct risk, we\u2019ve seen businesses sink or swim based on how their remediation and complaint handling teams deliver customer outcomes. Perfecting your approach and enabling your staff to handle complaints well will set your business up for sustained success.\n\nCovid-19 has put extra, unwelcome pressure on the market and consumer finances. Combine market volatility and financial insecurity with increased customer vulnerability, and you have yourself a perfect complaints storm. So while some issues might not necessarily have come to light in a normal climate, it\u2019s likely that you\u2019ll see an uptick of complaints in the wake of Covid-19.\n\nUnderstanding where your risks are now will help you take the right steps towards reducing complaints, now and in the future. What\u2019s more, you\u2019ll be better prepared to handle them properly when they do arise, meaning fewer FOS escalations and less chance of FCA enforcement.\n\nSo, do you know what risks are coming down the line, and what can you do to avoid them?\n\nThe role of vulnerability\n\nAt this time, many of your customers are dealing with job insecurity; some with loss of income all together. They may well have had their claims against their Income Protection policy rejected, only now discovering it doesn\u2019t cover redundancy \u2013 another knockout blow to an already stressful situation. And ultimately, customers in distressed situations will often feel backed into a corner, so are more likely to raise a complaint or seek redress.\n\nHow the FOS determine what a \u2018fair and reasonable\u2019 outcome of a complaint remains to be seen and could easily change. But inevitably, the spike in vulnerability will impact the stance taken by both the ombudsman and the regulator.\n\nWhile the FCA is currently showing some leniency around the 8 week deadline for a final response, this is far from a get out of jail free card. And if anything, the FOS is likely to take a more sympathetic approach. Expect them to pay extra attention to how the customer was treated, and whether the individual\u2019s circumstances were taken into account. It\u2019d be wise to update your vulnerability policy and make sure it\u2019s kept front and centre at every customer touchpoint \u2013 before, during and after a complaint is raised. Over at TCC, we talk about how that can be done.\n\nReview your forbearance policy\n\nWhile the FCA and the Government have granted another three months of payment holidays for mortgage customers under financial duress, these temporary measures still have an expiry date. Firms will need to consider how they manage the transition.\n\nReview your forbearance policies in preparation, keeping in mind that in certain circumstances, extended or unlimited forbearance is unlikely to bring about good customer outcomes in itself. Any policy update should take into account that treating your customers fairly and meeting the needs of shareholders is a delicate balance.\n\nUse data\n\nWhile most government measures have been welcomed, consumers that are struggling financially could still complain that the mortgage was unaffordable or there was a lack of risk warnings.\n\nNow\u2019s the time to use innovative tech and data analytics to your advantage. Compliance-driven analytics tools like Recordsure can tell you exactly what\u2019s being discussed during a customer call, helping you to spot complaints as they emerge. Similarly, we use this kind of advanced technology for our high-performance assurance, using data to quickly identify themes and duplicates in the complaint handling process. Get on the front foot by using this MI intelligently \u2013 tracking the trends in complaints, and allocating and training your resource accordingly.\n\nPrepare for the worst\n\nIn these uncertain times we should all be hoping for the best, but still planning for the worst. So, make sure you\u2019ve got enough resource to handle complaints properly and efficiently to avoid costly FOS escalations. Re-deploying and upskilling existing staff can give your complaints management and customer support functions more flexibility and resilience during this challenging time. Alternatively, give your team a boost with temporary resource or consider outsourcing for an effective solution which doesn\u2019t take away from activities elsewhere in the business.\n\nEqually, when you\u2019re dealing with a higher than normal case load, you need ultimate speed and accuracy. Innovative tools like Recordsure make this possible, but if you are looking for a fully managed service, our high-performance remediation solution supercharges traditional file review processes, combining smart population selection and an improved audit trail to make things quicker. This means less time-consuming admin for reviewers, and a faster outcome for your customers.", "wordCount": 788, "keywords": [ "Banking", "Insurance", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Remediation risk" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "text": "Dissatisfied customers are the ultimate test for your staff, and the policies and procedures that support them in their day-to-day roles. In our 20 years helping firms manage conduct risk, we\u2019ve seen businesses sink or swim based on how their remediation and complaint handling teams deliver customer outcomes. Perfecting your approach and enabling your staff to handle complaints well will set your business up for sustained success.\n\nCovid-19 has put extra, unwelcome pressure on the market and consumer finances. Combine market volatility and financial insecurity with increased customer vulnerability, and you have yourself a perfect complaints storm. So while some issues might not necessarily have come to light in a normal climate, it\u2019s likely that you\u2019ll see an uptick of complaints in the wake of Covid-19.\n\nUnderstanding where your risks are now will help you take the right steps towards reducing complaints, now and in the future. What\u2019s more, you\u2019ll be better prepared to handle them properly when they do arise, meaning fewer FOS escalations and less chance of FCA enforcement.\n\nSo, do you know what risks are coming down the line, and what can you do to avoid them?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "headline": "The role of vulnerability", "text": "At this time, many of your customers are dealing with job insecurity; some with loss of income all together. They may well have had their claims against their Income Protection policy rejected, only now discovering it doesn\u2019t cover redundancy \u2013 another knockout blow to an already stressful situation. And ultimately, customers in distressed situations will often feel backed into a corner, so are more likely to raise a complaint or seek redress.\n\nHow the FOS determine what a \u2018fair and reasonable\u2019 outcome of a complaint remains to be seen and could easily change. But inevitably, the spike in vulnerability will impact the stance taken by both the ombudsman and the regulator.\n\nWhile the FCA is currently showing some leniency around the 8 week deadline for a final response, this is far from a get out of jail free card. And if anything, the FOS is likely to take a more sympathetic approach. Expect them to pay extra attention to how the customer was treated, and whether the individual\u2019s circumstances were taken into account. It\u2019d be wise to update your vulnerability policy and make sure it\u2019s kept front and centre at every customer touchpoint \u2013 before, during and after a complaint is raised. Over at TCC, we talk about how that can be done." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "headline": "Review your forbearance policy", "text": "While the FCA and the Government have granted another three months of payment holidays for mortgage customers under financial duress, these temporary measures still have an expiry date. Firms will need to consider how they manage the transition.\n\nReview your forbearance policies in preparation, keeping in mind that in certain circumstances, extended or unlimited forbearance is unlikely to bring about good customer outcomes in itself. Any policy update should take into account that treating your customers fairly and meeting the needs of shareholders is a delicate balance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "headline": "Use data", "text": "While most government measures have been welcomed, consumers that are struggling financially could still complain that the mortgage was unaffordable or there was a lack of risk warnings.\n\nNow\u2019s the time to use innovative tech and data analytics to your advantage. Compliance-driven analytics tools like Recordsure can tell you exactly what\u2019s being discussed during a customer call, helping you to spot complaints as they emerge. Similarly, we use this kind of advanced technology for our high-performance assurance, using data to quickly identify themes and duplicates in the complaint handling process. Get on the front foot by using this MI intelligently \u2013 tracking the trends in complaints, and allocating and training your resource accordingly." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "headline": "Prepare for the worst", "text": "In these uncertain times we should all be hoping for the best, but still planning for the worst. So, make sure you\u2019ve got enough resource to handle complaints properly and efficiently to avoid costly FOS escalations. Re-deploying and upskilling existing staff can give your complaints management and customer support functions more flexibility and resilience during this challenging time. Alternatively, give your team a boost with temporary resource or consider outsourcing for an effective solution which doesn\u2019t take away from activities elsewhere in the business.\n\nEqually, when you\u2019re dealing with a higher than normal case load, you need ultimate speed and accuracy. Innovative tools like Recordsure make this possible, but if you are looking for a fully managed service, our high-performance remediation solution supercharges traditional file review processes, combining smart population selection and an improved audit trail to make things quicker. This means less time-consuming admin for reviewers, and a faster outcome for your customers." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-will-covid19-change-remediation-risk/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why could Covid-19 increase remediation risk?", "acceptedAnswer": { "@type": "Answer", "text": "Covid-19 increases remediation risk by combining market volatility, financial insecurity and increased customer vulnerability." } }, { "@type": "Question", "name": "What should firms do about vulnerability?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should update vulnerability policies and keep them central to every customer touchpoint before, during and after complaints." } }, { "@type": "Question", "name": "Why review forbearance policies?", "acceptedAnswer": { "@type": "Answer", "text": "Payment holidays and other temporary measures have expiry dates, so firms need to manage transitions while considering customer outcomes." } }, { "@type": "Question", "name": "How can data help complaint handling?", "acceptedAnswer": { "@type": "Answer", "text": "MI and analytics can identify themes, duplicates and emerging complaints so firms can allocate and train resource appropriately." } } ] } ] } ``` ### How to make the most out of conference call transcription - URL: https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/ - Published: 2020-06-17 - Modified: 2026-10-09 **Topic:** Call transcription Choose the right transcription solution, improve audio quality and store records securely so regulated firms can evidence and search customer conversations. #### Key points - Remote meetings can leave important customer conversations unrecorded without the right recording infrastructure. - Specialist transcription matters because regulated sectors use complex terminology and need records fit for compliance use. - Audio quality, secure storage and usable metadata all affect the value of the final transcript. - Conversation Intelligence supports recording, transcription, categorisation and search across high volumes of customer conversations. **With the world turning digital and many meetings moving to the virtual realm, there is an even greater demand for conversation transcriptions. Many workforces are now working remotely, which provides flexibility but these remote solutions often lack the IT infrastructure of an office environment, meaning important conversations may not be recorded.** Highly regulated sectors rely on comprehensive records for compliance, so digital transcriptions are vital for maintaining transparency over customer conversations alongside driving customer insights. No matter what platform is used, you want to be sure that you have an accurate, detailed and securely stored transcription that is easily accessible for referral. Achieving all of this is no easy feat, so here are a few tips to achieve the best possible conference call transcription. #### Find the right solution for you and your Industry This may seem obvious, but you would be surprised how many times ineffective transcribing tools have been used, leaving users with pages of illiterate conversations transcribed that are no longer fit for purpose. Transcriptions are designed to save time and drive efficiency, so if they do not achieve these goals, they are counterproductive. To ensure a clear transcription you need a solution that can provide a high degree of accuracy for language identification capable of identifying specialist keywords from your industry. Take the medical sector for example, when extremely technical terms like ‘neuroleptanalgesia’ are being used, you need a tool that can decipher these words. There is a range of factors you have to consider when choosing the right solution for your company such as how many callers are supported? What industry your company works in? And what do you want to accomplish with this solution? Our [Capture](/technology/conversation-intelligence/) tool is a speech recording and transcription solution that is designed purely for financial services and similar highly regulated sectors. Our speech-to-text engine has been specifically trained on the nuances of language found in the financial services sector to ensure even the most complex of conversations are transcribed with an unprecedented level of accuracy. This means mistakes like ‘ISA’ being transcribed to ‘ice’ shouldn’t be a problem. #### Optimise your audio environment Ahead of your meeting, it is important to test your recording equipment so you can ensure a smooth transcription throughout your meeting. Is the microphone on your laptop working effectively? Are there loud external sounds that could be mitigated before the call? Are other device notifications switched off? Our easy-to-use platform means you can simply log in and click record to test the environment beforehand. Ensuring all possible interferences are resolved before the call helps AI analytics tools analyse words with an improved level of accuracy meaning lower word error rates in the end transcript. Think of it a bit like any normal conversation you have: if background noise is drowning out half the words then it becomes harder to work out what the other person is trying to say. Same principle goes for analytics tools: more background noise interfering with the audio quality means fewer words will be recorded accurately in the end transcript. Recordsure is used across face-to-face meetings, telephony and increasingly, video calls through platforms like Zoom, Teams and Skype. Whether it is at home or in the office, simple steps like not leaving the microphone next to a noisy printer will help optimise the accuracy of any transcript. #### Store and search securely Once the call is finished you want to be sure that your file is being stored in a secure location, especially when conversations involve sensitive information. Here at Recordsure, we are ISO 27001. Our recordings are encrypted at rest, in transition and at end-point, so data is encrypted on your recording device, on our database and everywhere in between. If cloud-based is not an option, we also offer a military-grade storage capability in the Recordsure data centre. As well as security, it is important that files are managed effectively. When records are stored with inadequate metadata, finding the files you want can become a logistical nightmare. For example, simply trawling through thousands of unlabelled files to find every conversation involving a specific client can add weeks to a review. Our Capture tool makes navigating files exceptionally easy due to its categorisation structure, which can search via metrics like adviser or customer. This allows organisations to effectively manage huge numbers of records easily at scale. Hopefully, these tips help you achieve the best possible customer call transcription. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How to make the most out of conference call transcription", "item": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/", "name": "How to make the most out of conference call transcription", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-06-17T14:04:09+01:00", "dateModified": "2021-12-09T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-12-09" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How to make the most out of conference call transcription", "datePublished": "2020-06-17T14:04:09+01:00", "dateModified": "2026-10-09T04:50:14+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ad3b7726493e4284ab3f02cc25dc78ef/thumbnail-1024-4bb5febd65ec38de0dd4ba62d371b424f128dcf7f3b8edaa96264d3c4e7efefb.jpg", "description": "Remote working has increased demand for accurate, securely stored conference call transcripts that help regulated firms evidence customer conversations and support insight-led review.", "inLanguage": "en-GB", "articleBody": "Choose the right transcription solution, improve audio quality and store records securely so regulated firms can evidence and search customer conversations.\n\nWith the world turning digital and many meetings moving to the virtual realm, there is an even greater demand for conversation transcriptions. Many workforces are now working remotely, which provides flexibility but these remote solutions often lack the IT infrastructure of an office environment, meaning important conversations may not be recorded.\n\nHighly regulated sectors rely on comprehensive records for compliance, so digital transcriptions are vital for maintaining transparency over customer conversations alongside driving customer insights. No matter what platform is used, you want to be sure that you have an accurate, detailed and securely stored transcription that is easily accessible for referral.\n\nAchieving all of this is no easy feat, so here are a few tips to achieve the best possible conference call transcription.\n\nFind the right solution for you and your Industry\n\nThis may seem obvious, but you would be surprised how many times ineffective transcribing tools have been used, leaving users with pages of illiterate conversations transcribed that are no longer fit for purpose. Transcriptions are designed to save time and drive efficiency, so if they do not achieve these goals, they are counterproductive.\n\nTo ensure a clear transcription you need a solution that can provide a high degree of accuracy for language identification capable of identifying specialist keywords from your industry. Take the medical sector for example, when extremely technical terms like \u2018neuroleptanalgesia\u2019 are being used, you need a tool that can decipher these words.\n\nThere is a range of factors you have to consider when choosing the right solution for your company such as how many callers are supported? What industry your company works in? And what do you want to accomplish with this solution?\n\nOur Capture tool is a speech recording and transcription solution that is designed purely for financial services and similar highly regulated sectors. Our speech-to-text engine has been specifically trained on the nuances of language found in the financial services sector to ensure even the most complex of conversations are transcribed with an unprecedented level of accuracy. This means mistakes like \u2018ISA\u2019 being transcribed to \u2018ice\u2019 shouldn\u2019t be a problem.\n\nOptimise your audio environment\n\nAhead of your meeting, it is important to test your recording equipment so you can ensure a smooth transcription throughout your meeting. Is the microphone on your laptop working effectively? Are there loud external sounds that could be mitigated before the call? Are other device notifications switched off?\n\nOur easy-to-use platform means you can simply log in and click record to test the environment beforehand. Ensuring all possible interferences are resolved before the call helps AI analytics tools analyse words with an improved level of accuracy meaning lower word error rates in the end transcript.\n\nThink of it a bit like any normal conversation you have: if background noise is drowning out half the words then it becomes harder to work out what the other person is trying to say. Same principle goes for analytics tools: more background noise interfering with the audio quality means fewer words will be recorded accurately in the end transcript.\n\nRecordsure is used across face-to-face meetings, telephony and increasingly, video calls through platforms like Zoom, Teams and Skype. Whether it is at home or in the office, simple steps like not leaving the microphone next to a noisy printer will help optimise the accuracy of any transcript.\n\nStore and search securely\n\nOnce the call is finished you want to be sure that your file is being stored in a secure location, especially when conversations involve sensitive information.\n\nHere at Recordsure, we are ISO 27001. Our recordings are encrypted at rest, in transition and at end-point, so data is encrypted on your recording device, on our database and everywhere in between. If cloud-based is not an option, we also offer a military-grade storage capability in the Recordsure data centre.\n\nAs well as security, it is important that files are managed effectively. When records are stored with inadequate metadata, finding the files you want can become a logistical nightmare. For example, simply trawling through thousands of unlabelled files to find every conversation involving a specific client can add weeks to a review.\n\nOur Capture tool makes navigating files exceptionally easy due to its categorisation structure, which can search via metrics like adviser or customer. This allows organisations to effectively manage huge numbers of records easily at scale.\n\nHopefully, these tips help you achieve the best possible customer call transcription.", "wordCount": 755, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Call transcription" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "inLanguage": "en-GB", "text": "With the world turning digital and many meetings moving to the virtual realm, there is an even greater demand for conversation transcriptions. Many workforces are now working remotely, which provides flexibility but these remote solutions often lack the IT infrastructure of an office environment, meaning important conversations may not be recorded.\n\nHighly regulated sectors rely on comprehensive records for compliance, so digital transcriptions are vital for maintaining transparency over customer conversations alongside driving customer insights. No matter what platform is used, you want to be sure that you have an accurate, detailed and securely stored transcription that is easily accessible for referral.\n\nAchieving all of this is no easy feat, so here are a few tips to achieve the best possible conference call transcription." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "inLanguage": "en-GB", "headline": "Find the right solution for you and your Industry", "text": "This may seem obvious, but you would be surprised how many times ineffective transcribing tools have been used, leaving users with pages of illiterate conversations transcribed that are no longer fit for purpose. Transcriptions are designed to save time and drive efficiency, so if they do not achieve these goals, they are counterproductive.\n\nTo ensure a clear transcription you need a solution that can provide a high degree of accuracy for language identification capable of identifying specialist keywords from your industry. Take the medical sector for example, when extremely technical terms like \u2018neuroleptanalgesia\u2019 are being used, you need a tool that can decipher these words.\n\nThere is a range of factors you have to consider when choosing the right solution for your company such as how many callers are supported? What industry your company works in? And what do you want to accomplish with this solution?\n\nOur Capture tool is a speech recording and transcription solution that is designed purely for financial services and similar highly regulated sectors. Our speech-to-text engine has been specifically trained on the nuances of language found in the financial services sector to ensure even the most complex of conversations are transcribed with an unprecedented level of accuracy. This means mistakes like \u2018ISA\u2019 being transcribed to \u2018ice\u2019 shouldn\u2019t be a problem." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "inLanguage": "en-GB", "headline": "Optimise your audio environment", "text": "Ahead of your meeting, it is important to test your recording equipment so you can ensure a smooth transcription throughout your meeting. Is the microphone on your laptop working effectively? Are there loud external sounds that could be mitigated before the call? Are other device notifications switched off?\n\nOur easy-to-use platform means you can simply log in and click record to test the environment beforehand. Ensuring all possible interferences are resolved before the call helps AI analytics tools analyse words with an improved level of accuracy meaning lower word error rates in the end transcript.\n\nThink of it a bit like any normal conversation you have: if background noise is drowning out half the words then it becomes harder to work out what the other person is trying to say. Same principle goes for analytics tools: more background noise interfering with the audio quality means fewer words will be recorded accurately in the end transcript.\n\nRecordsure is used across face-to-face meetings, telephony and increasingly, video calls through platforms like Zoom, Teams and Skype. Whether it is at home or in the office, simple steps like not leaving the microphone next to a noisy printer will help optimise the accuracy of any transcript." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "inLanguage": "en-GB", "headline": "Store and search securely", "text": "Once the call is finished you want to be sure that your file is being stored in a secure location, especially when conversations involve sensitive information.\n\nHere at Recordsure, we are ISO 27001. Our recordings are encrypted at rest, in transition and at end-point, so data is encrypted on your recording device, on our database and everywhere in between. If cloud-based is not an option, we also offer a military-grade storage capability in the Recordsure data centre.\n\nAs well as security, it is important that files are managed effectively. When records are stored with inadequate metadata, finding the files you want can become a logistical nightmare. For example, simply trawling through thousands of unlabelled files to find every conversation involving a specific client can add weeks to a review.\n\nOur Capture tool makes navigating files exceptionally easy due to its categorisation structure, which can search via metrics like adviser or customer. This allows organisations to effectively manage huge numbers of records easily at scale.\n\nHopefully, these tips help you achieve the best possible customer call transcription." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-to-make-the-most-out-of-conference-call-transcription/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is conference call transcription important for regulated firms?", "acceptedAnswer": { "@type": "Answer", "text": "It helps firms maintain transparent records of customer conversations when meetings move online, supporting compliance and later review." } }, { "@type": "Question", "name": "What makes a transcription solution suitable for specialist sectors?", "acceptedAnswer": { "@type": "Answer", "text": "It needs to recognise industry-specific terminology, support the required callers and produce transcripts that are accurate enough to be fit for purpose." } }, { "@type": "Question", "name": "How can firms improve transcript accuracy before a call?", "acceptedAnswer": { "@type": "Answer", "text": "They should test microphones, reduce background noise and switch off other device notifications before the meeting starts." } }, { "@type": "Question", "name": "Why does metadata matter after the call?", "acceptedAnswer": { "@type": "Answer", "text": "Good metadata makes stored records searchable, reducing the time needed to find conversations for client reviews or compliance checks." } } ] } ] } ``` ### What are the FCA changes to the DB transfers market and how can RegTech help with compliance? - URL: https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/ - Published: 2020-06-10 - Modified: 2026-10-09 **Topic:** DB transfer compliance The FCA’s defined benefit pension transfer changes aim to improve customer outcomes and reduce adviser conflicts. Recorded conversations, self-review and analytics can support compliance. #### Key points - The FCA changes focus on improving outcomes in the defined benefit transfer market. - Most contingent charging was banned to reduce adviser conflicts of interest. - Advisers must justify alternatives to workplace pensions and may provide abridged advice. - The FCA’s review found suitability had improved but unsuitable advice remained too high. - Recordsure can support audit trails, self-review, topic analytics and early risk flags. **In changes announced on June 5th, the FCA has outlined a number of steps intended to [improve the defined benefit pension transfer market](https://www.fca.org.uk/news/press-releases/fca-sets-out-next-steps-improve-defined-benefit-pension-transfer-market). These changes are designed to reduce conflicts of interest for advisers, support them in following best practice and ultimately safeguard customers.** The measures have arisen as a result of research which show that although going down, the number of instances where unsuitable advice is provided to customers is still unacceptably high. #### What changes have the FCA brought in? The FCA’s changes are all focused on the defined benefit (DB) market. They have set out a package of changes which are designed to improve customer outcomes by simultaneously preventing conflicts of interest for advisers while encouraging positive conduct. These changes include: - A ban on contingent charging in most circumstances. Previously, advisers stood to gain if a transfer went ahead which created a conflict of interest when said transfer was not in the customer’s best interests. This change is designed to remove this incentive, whilst creating a level playing field that means advisers recommending the customer stays put are not then left at a disadvantage. - When considering workplace pensions and recommending an alternate solution, advisers must now demonstrate why this is more suitable for the customer. - Proposals will be implemented allowing advisers to provide abridged advice. The adviser will be able to offer one of two pieces of advice: either a recommendation not to transfer or a statement saying that it is unclear whether the customer would benefit from transferring their pension without further advice. This is designed to offer the customer initial advice at a more affordable cost. - Finally, the package offers further support for customers considering whether to transfer out of a DB scheme and for those who have already done so. #### Why have these changes been brought in? The FCA previously conducted in-depth reviews of the 85 most active firms in the market in an effort to better understand the organisations most likely to provide unsuitable advice. This pool covered those who were responsible for 43% of transfers between April 2015 and September 2018. The findings showed gradual improvement over time. From a low point of 47%, the FCA found that by 2018, 60% of advice offered was suitable. However, they have been vocal in their concern of both an ‘unacceptably high’ number of files where unsuitable advice has been given as well as cases with information gaps preventing them from determining whether advice was suitable or not. #### How are customers being better protected now? The changes brought in are all ultimately designed to improve customer outcomes and reduce the risk of them being offered unsuitable advice. The new measures tackle the problems from two angles. On the one hand, the FCA are helping advisers offer good advice. The changes listed above are being supported by a Guidance Consultation designed to help advisers offer better recommendations and put better processes in place. This reinforces best practice by giving clear examples of good and bad conduct, so the changes being implemented are coming in conjunction with prescriptive guidance on the behaviour the FCA want to see from advisers. Meanwhile, the FCA recognise that consumers will often be concerned that the advice they receive or have followed historically was good. They are therefore introducing an ‘advice checker’ alongside further consumer information to help give people confidence they are making the correct decisions. #### How does Recordsure enable firms to support customers? Changing the behaviour of teams when regulations change can be a challenge, as is monitoring adviser activity for compliance across an entire organisation. Recordsure has a proven track record of helping large scale financial services organisations fundamentally improve their performance, conduct and culture through the use of smart technology. Our advanced platform combines human-level intelligence with machine-powered capability to transform compliance, customer care and risk management at scale. Use cases we provide solutions for that relate to the changes to the DB pensions transfer market include: - Providing a strong means to record, store and quickly review audio conversations. This speeds up review time and provides a comprehensive audit trail across all voice channels including video calling, telephony and face-to-face meetings. - Offering advisers a means to self-review, with team leaders also able to share examples of best practice amongst their teams. Meanwhile, we enable supervisors to spend more time reviewing customer conversations, gain a more accurate understanding of advisers’ behaviour and offer them an unprecedented level of support. Combined, these measures help firms improve performance, conduct and culture. - Smart analytics tools which can highlight specific topics in conversations, for example whenever a product is discussed exponentially speeding up the review process. - Automatically flagging compliance risks early based on anomalous patterns in conversations such as a piece of advice which has been given before the necessary research has been conducted so support teams can respond before the customer is given unsuitable recommendations. #### Supporting sources - [FCA sets out next steps to improve the defined benefit pension transfer market](https://www.fca.org.uk/news/press-releases/fca-sets-out-next-steps-improve-defined-benefit-pension-transfer-market) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "What are the FCA changes to the DB transfers market and how can RegTech help with compliance?", "item": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/", "name": "What are the FCA changes to the DB transfers market and how can RegTech help with compliance?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-06-10T09:57:08+01:00", "dateModified": "2020-06-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-06-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "What are the FCA changes to the DB transfers market and how can RegTech help with compliance?", "datePublished": "2020-06-10T09:57:08+01:00", "dateModified": "2026-10-09T04:50:23+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/2c3c1e5c901342d2a06120939e7ce790/thumbnail-1024-b86bd625acd02f3254ce9a4a506408fba44f5df5158647b93130e158756d0c3f.jpg", "description": "The FCA\u2019s defined benefit pension transfer changes aim to reduce adviser conflicts, support better conduct and improve customer outcomes.", "inLanguage": "en-GB", "articleBody": "The FCA\u2019s defined benefit pension transfer changes aim to improve customer outcomes and reduce adviser conflicts. Recorded conversations, self-review and analytics can support compliance.\n\nIn changes announced on June 5th, the FCA has outlined a number of steps intended to improve the defined benefit pension transfer market. These changes are designed to reduce conflicts of interest for advisers, support them in following best practice and ultimately safeguard customers.\n\nThe measures have arisen as a result of research which show that although going down, the number of instances where unsuitable advice is provided to customers is still unacceptably high.\n\nWhat changes have the FCA brought in?\n\nThe FCA\u2019s changes are all focused on the defined benefit (DB) market. They have set out a package of changes which are designed to improve customer outcomes by simultaneously preventing conflicts of interest for advisers while encouraging positive conduct.\n\nThese changes include:\n\n\u2022 A ban on contingent charging in most circumstances. Previously, advisers stood to gain if a transfer went ahead which created a conflict of interest when said transfer was not in the customer\u2019s best interests. This change is designed to remove this incentive, whilst creating a level playing field that means advisers recommending the customer stays put are not then left at a disadvantage.\n\u2022 When considering workplace pensions and recommending an alternate solution, advisers must now demonstrate why this is more suitable for the customer.\n\u2022 Proposals will be implemented allowing advisers to provide abridged advice. The adviser will be able to offer one of two pieces of advice: either a recommendation not to transfer or a statement saying that it is unclear whether the customer would benefit from transferring their pension without further advice. This is designed to offer the customer initial advice at a more affordable cost.\n\u2022 Finally, the package offers further support for customers considering whether to transfer out of a DB scheme and for those who have already done so.\n\nWhy have these changes been brought in?\n\nThe FCA previously conducted in-depth reviews of the 85 most active firms in the market in an effort to better understand the organisations most likely to provide unsuitable advice. This pool covered those who were responsible for 43% of transfers between April 2015 and September 2018.\n\nThe findings showed gradual improvement over time. From a low point of 47%, the FCA found that by 2018, 60% of advice offered was suitable. However, they have been vocal in their concern of both an \u2018unacceptably high\u2019 number of files where unsuitable advice has been given as well as cases with information gaps preventing them from determining whether advice was suitable or not.\n\nHow are customers being better protected now?\n\nThe changes brought in are all ultimately designed to improve customer outcomes and reduce the risk of them being offered unsuitable advice. The new measures tackle the problems from two angles.\n\nOn the one hand, the FCA are helping advisers offer good advice. The changes listed above are being supported by a Guidance Consultation designed to help advisers offer better recommendations and put better processes in place. This reinforces best practice by giving clear examples of good and bad conduct, so the changes being implemented are coming in conjunction with prescriptive guidance on the behaviour the FCA want to see from advisers.\n\nMeanwhile, the FCA recognise that consumers will often be concerned that the advice they receive or have followed historically was good. They are therefore introducing an \u2018advice checker\u2019 alongside further consumer information to help give people confidence they are making the correct decisions.\n\nHow does Recordsure enable firms to support customers?\n\nChanging the behaviour of teams when regulations change can be a challenge, as is monitoring adviser activity for compliance across an entire organisation.\n\nRecordsure has a proven track record of helping large scale financial services organisations fundamentally improve their performance, conduct and culture through the use of smart technology. Our advanced platform combines human-level intelligence with machine-powered capability to transform compliance, customer care and risk management at scale.\n\nUse cases we provide solutions for that relate to the changes to the DB pensions transfer market include:\n\n\u2022 Providing a strong means to record, store and quickly review audio conversations. This speeds up review time and provides a comprehensive audit trail across all voice channels including video calling, telephony and face-to-face meetings.\n\u2022 Offering advisers a means to self-review, with team leaders also able to share examples of best practice amongst their teams. Meanwhile, we enable supervisors to spend more time reviewing customer conversations, gain a more accurate understanding of advisers\u2019 behaviour and offer them an unprecedented level of support. Combined, these measures help firms improve performance, conduct and culture.\n\u2022 Smart analytics tools which can highlight specific topics in conversations, for example whenever a product is discussed exponentially speeding up the review process.\n\u2022 Automatically flagging compliance risks early based on anomalous patterns in conversations such as a piece of advice which has been given before the necessary research has been conducted so support teams can respond before the customer is given unsuitable recommendations.", "wordCount": 844, "keywords": [ "Pensions", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Pensions", "url": "https://recordsure.com/sector/pensions/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "DB transfer compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Pensions" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA sets out next steps to improve the defined benefit pension transfer market", "url": "https://www.fca.org.uk/news/press-releases/fca-sets-out-next-steps-improve-defined-benefit-pension-transfer-market" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "text": "In changes announced on June 5th, the FCA has outlined a number of steps intended to improve the defined benefit pension transfer market. These changes are designed to reduce conflicts of interest for advisers, support them in following best practice and ultimately safeguard customers.\n\nThe measures have arisen as a result of research which show that although going down, the number of instances where unsuitable advice is provided to customers is still unacceptably high." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "What changes have the FCA brought in?", "text": "The FCA\u2019s changes are all focused on the defined benefit (DB) market. They have set out a package of changes which are designed to improve customer outcomes by simultaneously preventing conflicts of interest for advisers while encouraging positive conduct.\n\nThese changes include:\n\n\u2022 A ban on contingent charging in most circumstances. Previously, advisers stood to gain if a transfer went ahead which created a conflict of interest when said transfer was not in the customer\u2019s best interests. This change is designed to remove this incentive, whilst creating a level playing field that means advisers recommending the customer stays put are not then left at a disadvantage.\n\u2022 When considering workplace pensions and recommending an alternate solution, advisers must now demonstrate why this is more suitable for the customer.\n\u2022 Proposals will be implemented allowing advisers to provide abridged advice. The adviser will be able to offer one of two pieces of advice: either a recommendation not to transfer or a statement saying that it is unclear whether the customer would benefit from transferring their pension without further advice. This is designed to offer the customer initial advice at a more affordable cost.\n\u2022 Finally, the package offers further support for customers considering whether to transfer out of a DB scheme and for those who have already done so." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "Why have these changes been brought in?", "text": "The FCA previously conducted in-depth reviews of the 85 most active firms in the market in an effort to better understand the organisations most likely to provide unsuitable advice. This pool covered those who were responsible for 43% of transfers between April 2015 and September 2018.\n\nThe findings showed gradual improvement over time. From a low point of 47%, the FCA found that by 2018, 60% of advice offered was suitable. However, they have been vocal in their concern of both an \u2018unacceptably high\u2019 number of files where unsuitable advice has been given as well as cases with information gaps preventing them from determining whether advice was suitable or not." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "How are customers being better protected now?", "text": "The changes brought in are all ultimately designed to improve customer outcomes and reduce the risk of them being offered unsuitable advice. The new measures tackle the problems from two angles.\n\nOn the one hand, the FCA are helping advisers offer good advice. The changes listed above are being supported by a Guidance Consultation designed to help advisers offer better recommendations and put better processes in place. This reinforces best practice by giving clear examples of good and bad conduct, so the changes being implemented are coming in conjunction with prescriptive guidance on the behaviour the FCA want to see from advisers.\n\nMeanwhile, the FCA recognise that consumers will often be concerned that the advice they receive or have followed historically was good. They are therefore introducing an \u2018advice checker\u2019 alongside further consumer information to help give people confidence they are making the correct decisions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "headline": "How does Recordsure enable firms to support customers?", "text": "Changing the behaviour of teams when regulations change can be a challenge, as is monitoring adviser activity for compliance across an entire organisation.\n\nRecordsure has a proven track record of helping large scale financial services organisations fundamentally improve their performance, conduct and culture through the use of smart technology. Our advanced platform combines human-level intelligence with machine-powered capability to transform compliance, customer care and risk management at scale.\n\nUse cases we provide solutions for that relate to the changes to the DB pensions transfer market include:\n\n\u2022 Providing a strong means to record, store and quickly review audio conversations. This speeds up review time and provides a comprehensive audit trail across all voice channels including video calling, telephony and face-to-face meetings.\n\u2022 Offering advisers a means to self-review, with team leaders also able to share examples of best practice amongst their teams. Meanwhile, we enable supervisors to spend more time reviewing customer conversations, gain a more accurate understanding of advisers\u2019 behaviour and offer them an unprecedented level of support. Combined, these measures help firms improve performance, conduct and culture.\n\u2022 Smart analytics tools which can highlight specific topics in conversations, for example whenever a product is discussed exponentially speeding up the review process.\n\u2022 Automatically flagging compliance risks early based on anomalous patterns in conversations such as a piece of advice which has been given before the necessary research has been conducted so support teams can respond before the customer is given unsuitable recommendations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-are-the-fca-changes-to-the-db-transfers-market-and-how-can-regtech-help-with-compliance/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What market do the FCA changes focus on?", "acceptedAnswer": { "@type": "Answer", "text": "They focus on the defined benefit pension transfer market." } }, { "@type": "Question", "name": "Why did the FCA introduce the changes?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA found that unsuitable advice was still unacceptably high, despite improvement over time." } }, { "@type": "Question", "name": "How can technology support firms?", "acceptedAnswer": { "@type": "Answer", "text": "Technology can record and review conversations, support adviser self-review, highlight topics and flag potential compliance risks earlier." } } ] } ] } ``` ### Recordsure and TCC appoint industry-leader Adrian Fisk as a board advisor to support international expansion - URL: https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/ - Published: 2020-04-27 - Modified: 2026-10-09 **Topic:** Board adviser Recordsure and sister company TCC appointed Adrian Fisk as an adviser to their respective boards. The appointment brings experience from KPMG in Australia, financial services leadership and remediation work with Recordsure. #### Key points - Adrian Fisk joined Recordsure and TCC as an adviser to their respective boards. - Recordsure and TCC were both founded by Joanne Smith. - Adrian was a KPMG partner in Australia for 17 years. - He most recently led KPMG’s Financial Services practice and worked with Recordsure on remediation. Recordsure and sister company TCC announced the appointment of Adrian Fisk as an adviser to their respective boards. Recordsure and TCC were both founded by Joanne Smith. Recordsure is a RegTech analytics platform specialising in turning customer conversations and documentation into insights that drive performance, culture and optimised customer outcomes. Its technology combines human-level intelligence with machine-powered capability to support compliance, customer care, risk management and sales at scale. TCC is a compliance consultancy that helps FCA-regulated businesses link culture and compliance to generate commercial success. Using RegTech to support regulatory expertise, TCC provides ways to tackle conduct risk. #### Adrian Fisk’s experience Adrian joins both companies after a career at KPMG in Australia, where he was a partner for 17 years and most recently led the Financial Services practice. As leader of KPMG’s Remediation Centre in Sydney, Adrian partnered with Recordsure to deliver a remediation solution, giving him first-hand experience of Recordsure’s capabilities. Adrian retired from KPMG in November 2019 and will use his insights and expertise to support Recordsure and TCC in meeting their international growth plans. #### Comments on the appointment Adrian said that, having worked with Recordsure during his time at KPMG, he knew the difference it was making in financial services. He said that as more firms turn to RegTech solutions to transform remediation projects and daily monitoring of customer interactions at scale, it is an exciting time for both companies. He said he was delighted to be part of it and eager to help build on achievements already made in the space. Founder Joanne Smith said the success of both Recordsure and TCC had been built on the technology they deploy and the expertise of their teams. She said she was delighted Adrian had chosen to join and bring his experience to the group, and that she could think of no one better to help guide expansion of their international presence. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure and TCC appoint industry-leader Adrian Fisk as a board advisor to support international expansion", "item": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage", "url": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/", "name": "Recordsure and TCC appoint industry-leader Adrian Fisk as a board advisor to support international expansion", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-04-27T08:17:24+01:00", "dateModified": "2024-02-21T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-02-21" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure and TCC appoint industry-leader Adrian Fisk as a board advisor to support international expansion", "datePublished": "2020-04-27T08:17:24+01:00", "dateModified": "2026-10-09T04:50:31+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/11a6158ec8cb459b9fd51c5fcb409dad/thumbnail-1024-18e8fddbac9591021792d47f87927126739d7f6b04de526d9bd04cd23e8c08fc.jpg", "description": "Recordsure and TCC appointed Adrian Fisk as an adviser to their boards, drawing on his KPMG financial services and remediation experience.", "inLanguage": "en-GB", "articleBody": "Recordsure and sister company TCC appointed Adrian Fisk as an adviser to their respective boards. The appointment brings experience from KPMG in Australia, financial services leadership and remediation work with Recordsure.\n\nRecordsure and sister company TCC announced the appointment of Adrian Fisk as an adviser to their respective boards. Recordsure and TCC were both founded by Joanne Smith.\n\nRecordsure is a RegTech analytics platform specialising in turning customer conversations and documentation into insights that drive performance, culture and optimised customer outcomes. Its technology combines human-level intelligence with machine-powered capability to support compliance, customer care, risk management and sales at scale.\n\nTCC is a compliance consultancy that helps FCA-regulated businesses link culture and compliance to generate commercial success. Using RegTech to support regulatory expertise, TCC provides ways to tackle conduct risk.\n\nAdrian Fisk\u2019s experience\n\nAdrian joins both companies after a career at KPMG in Australia, where he was a partner for 17 years and most recently led the Financial Services practice. As leader of KPMG\u2019s Remediation Centre in Sydney, Adrian partnered with Recordsure to deliver a remediation solution, giving him first-hand experience of Recordsure\u2019s capabilities.\n\nAdrian retired from KPMG in November 2019 and will use his insights and expertise to support Recordsure and TCC in meeting their international growth plans.\n\nComments on the appointment\n\nAdrian said that, having worked with Recordsure during his time at KPMG, he knew the difference it was making in financial services. He said that as more firms turn to RegTech solutions to transform remediation projects and daily monitoring of customer interactions at scale, it is an exciting time for both companies. He said he was delighted to be part of it and eager to help build on achievements already made in the space.\n\nFounder Joanne Smith said the success of both Recordsure and TCC had been built on the technology they deploy and the expertise of their teams. 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Recordsure and TCC were both founded by Joanne Smith.\n\nRecordsure is a RegTech analytics platform specialising in turning customer conversations and documentation into insights that drive performance, culture and optimised customer outcomes. Its technology combines human-level intelligence with machine-powered capability to support compliance, customer care, risk management and sales at scale.\n\nTCC is a compliance consultancy that helps FCA-regulated businesses link culture and compliance to generate commercial success. Using RegTech to support regulatory expertise, TCC provides ways to tackle conduct risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage" }, "inLanguage": "en-GB", "headline": "Adrian Fisk\u2019s experience", "text": "Adrian joins both companies after a career at KPMG in Australia, where he was a partner for 17 years and most recently led the Financial Services practice. As leader of KPMG\u2019s Remediation Centre in Sydney, Adrian partnered with Recordsure to deliver a remediation solution, giving him first-hand experience of Recordsure\u2019s capabilities.\n\nAdrian retired from KPMG in November 2019 and will use his insights and expertise to support Recordsure and TCC in meeting their international growth plans." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage" }, "inLanguage": "en-GB", "headline": "Comments on the appointment", "text": "Adrian said that, having worked with Recordsure during his time at KPMG, he knew the difference it was making in financial services. He said that as more firms turn to RegTech solutions to transform remediation projects and daily monitoring of customer interactions at scale, it is an exciting time for both companies. He said he was delighted to be part of it and eager to help build on achievements already made in the space.\n\nFounder Joanne Smith said the success of both Recordsure and TCC had been built on the technology they deploy and the expertise of their teams. She said she was delighted Adrian had chosen to join and bring his experience to the group, and that she could think of no one better to help guide expansion of their international presence." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-and-tcc-appoint-industry-leader-adrian-fisk-as-a-board-advisor-to-support-international-expansion/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who did Recordsure and TCC appoint?", "acceptedAnswer": { "@type": "Answer", "text": "They appointed Adrian Fisk as an adviser to their respective boards." } }, { "@type": "Question", "name": "What was Adrian Fisk\u2019s previous role?", "acceptedAnswer": { "@type": "Answer", "text": "He was a partner at KPMG in Australia for 17 years and most recently led its Financial Services practice." } }, { "@type": "Question", "name": "How had Adrian Fisk worked with Recordsure before?", "acceptedAnswer": { "@type": "Answer", "text": "As leader of KPMG\u2019s Remediation Centre in Sydney, he partnered with Recordsure to deliver a remediation solution." } }, { "@type": "Question", "name": "Why is the appointment relevant?", "acceptedAnswer": { "@type": "Answer", "text": "Adrian will use his financial services, remediation and Recordsure experience to support international growth plans." } } ] } ] } ``` ### Transforming first interactions into trusted client relationships - URL: https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/ - Published: 2020-04-24 - Modified: 2026-10-09 **Topic:** Client relationships First interactions shape how prospective clients judge a wealth management firm. Data, touchpoint analysis and lifecycle reuse of regulatory information can help build trusted relationships. #### Key points - Clients have more wealth management options and are influenced by peer experience. - The 2019 Capgemini World Wealth Report linked unsatisfactory service to switching. - First interactions shape prospects’ expectations before they become clients. - The webinar covered data, next-generation investors and reusable regulatory information. Recordsure hosted *Transforming first interactions into trusted client relationships* with [Wealth Dynamix](https://www.wealth-dynamix.com/) on 22/04/2020. Clients have increasing access to wealth management services, are influenced by peer experience, have access to a wide range of information and are willing to switch provider when service is sub-standard. #### Why early interactions matter The 2019 Capgemini World Wealth Report found that an unsatisfactory service experience with a wealth management firm was the most significant factor, at 87%, influencing high-net-worth individuals to move to another provider. For prospects not previously known to a firm, the experience starts as soon as they become aware of the brand. They begin forming opinions about the quality of service they might expect as clients, which makes first interactions important in shaping early impressions. #### What the webinar covered The webinar asked how wealth managers can achieve faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insight to support conversions and the ability to identify new revenue opportunities. It invited wealth management leaders to explore how advisers can drive value from data by turning noise into signals, what strategies firms should use to reach the next generation of investors, and how they can capture data needed for regulatory obligations once and reuse it throughout the client lifecycle. Chief Compliance Officers, Heads of Client Service, Heads of Relationship Management and Heads of CRM, Onboarding or KYC were the intended audience. #### Supporting sources - [Wealth Dynamix](https://www.wealth-dynamix.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Transforming first interactions into trusted client relationships", "item": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/", "name": "Transforming first interactions into trusted client relationships", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-04-24T07:09:33+01:00", "dateModified": "2020-06-15T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-06-15" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Transforming first interactions into trusted client relationships", "datePublished": "2020-04-24T07:09:33+01:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/df31d01218ad46ca8109647d3dc2dcc2/thumbnail-640-2745f0b1f32adfdff6a0d813752f1d788ac601e8434a34e3a6fb35626a48f218.jpg", "description": "A Recordsure and Wealth Dynamix webinar explored how wealth managers can turn early client touchpoints into insight, better engagement and stronger regulatory evidence.", "inLanguage": "en-GB", "articleBody": "First interactions shape how prospective clients judge a wealth management firm. Data, touchpoint analysis and lifecycle reuse of regulatory information can help build trusted relationships.\n\nRecordsure hosted Transforming first interactions into trusted client relationships with Wealth Dynamix on 22/04/2020.\n\nClients have increasing access to wealth management services, are influenced by peer experience, have access to a wide range of information and are willing to switch provider when service is sub-standard.\n\nWhy early interactions matter\n\nThe 2019 Capgemini World Wealth Report found that an unsatisfactory service experience with a wealth management firm was the most significant factor, at 87%, influencing high-net-worth individuals to move to another provider.\n\nFor prospects not previously known to a firm, the experience starts as soon as they become aware of the brand. They begin forming opinions about the quality of service they might expect as clients, which makes first interactions important in shaping early impressions.\n\nWhat the webinar covered\n\nThe webinar asked how wealth managers can achieve faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insight to support conversions and the ability to identify new revenue opportunities.\n\nIt invited wealth management leaders to explore how advisers can drive value from data by turning noise into signals, what strategies firms should use to reach the next generation of investors, and how they can capture data needed for regulatory obligations once and reuse it throughout the client lifecycle.\n\nChief Compliance Officers, Heads of Client Service, Heads of Relationship Management and Heads of CRM, Onboarding or KYC were the intended audience.", "wordCount": 259, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Client relationships" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Wealth Dynamix", "url": "https://www.wealth-dynamix.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure hosted Transforming first interactions into trusted client relationships with Wealth Dynamix on 22/04/2020.\n\nClients have increasing access to wealth management services, are influenced by peer experience, have access to a wide range of information and are willing to switch provider when service is sub-standard." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "inLanguage": "en-GB", "headline": "Why early interactions matter", "text": "The 2019 Capgemini World Wealth Report found that an unsatisfactory service experience with a wealth management firm was the most significant factor, at 87%, influencing high-net-worth individuals to move to another provider.\n\nFor prospects not previously known to a firm, the experience starts as soon as they become aware of the brand. They begin forming opinions about the quality of service they might expect as clients, which makes first interactions important in shaping early impressions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "inLanguage": "en-GB", "headline": "What the webinar covered", "text": "The webinar asked how wealth managers can achieve faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insight to support conversions and the ability to identify new revenue opportunities.\n\nIt invited wealth management leaders to explore how advisers can drive value from data by turning noise into signals, what strategies firms should use to reach the next generation of investors, and how they can capture data needed for regulatory obligations once and reuse it throughout the client lifecycle.\n\nChief Compliance Officers, Heads of Client Service, Heads of Relationship Management and Heads of CRM, Onboarding or KYC were the intended audience." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/transforming-first-interactions-into-trusted-client-relationships/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who hosted the webinar?", "acceptedAnswer": { "@type": "Answer", "text": "The webinar was hosted by Recordsure in partnership with Wealth Dynamix." } }, { "@type": "Question", "name": "What did the Capgemini report finding say?", "acceptedAnswer": { "@type": "Answer", "text": "The 2019 Capgemini World Wealth Report found unsatisfactory service was the most significant factor, at 87%, influencing HNWIs to move provider." } }, { "@type": "Question", "name": "Why are first interactions important?", "acceptedAnswer": { "@type": "Answer", "text": "Prospects form opinions about expected service quality as soon as they become aware of the firm\u2019s brand." } }, { "@type": "Question", "name": "What regulatory data point did the webinar address?", "acceptedAnswer": { "@type": "Answer", "text": "It covered capturing data needed for regulatory obligations once and reusing it across the client lifecycle." } } ] } ] } ``` ### Remote relationship management: the future of wealth management? - URL: https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/ - Published: 2020-04-16 - Modified: 2026-10-09 **Topic:** Remote advice Remote relationship management can support wealth clients, but firms must still evidence advice, protect data and maintain oversight across every channel. #### Key points - Wealth management relies on trust between clients and advisers, even when face-to-face meetings are unavailable. - Wealth managers need a blend of video, phone and other remote communication channels. - Remote channels can create audit-trail gaps where meetings are unrecorded or poorly indexed. - Recordsure supports face-to-face, telephony and video recording with analytics, transcription and key fact extraction. **Wealth management is a business that relies on high degrees of trust between client and adviser. When it comes to achieving a highly successful outcome for both the client and the firm, that relationship can make all the difference. So how does a relationship-led business enable its advisers to give good advice when face-to-face meetings are off the table?** Wealth management has long been a business that relies heavily on face-to-face meetings with clients in order to do business. With the majority of people around the industry currently turning to remote working, the opportunity and demand for face to face meetings is likely to diminish. This doesn’t mean that firms aren’t trying to communicate with their clients. Of course they are. Client demand for interaction will never be higher than when markets are volatile and while this can force firms to rethink processes it also provides a powerful incentive to innovate and improve infrastructure. Many firms have issued blanket communications by letter or email to reassure clients. Those that have contact centres are bolstering staff numbers and fielding as many calls as possible. The better relationship managers have been calling their clients to assure them that things will get back to normal soon. To hang in there. **Clients will remember these personal touches, and will naturally be drawn to service providers who offer an excellent and consistent customer experience. This is particularly true in times of change.** Markets will eventually bounce back. But does “getting back to normal” really mean going back to the way things were? Or is there a “new normal” that wealth managers will need to adapt to? The more that people grow comfortable with remote ways of working, the less likely it is that a behavioural bounce-back will occur. Wealth managers would do well to take note of a few interesting behavioural and environmental shifts that could become the norm in the very near future: 1. Video conferencing has never been more popular. As older generations are turning to popular services such as Zoom and Skype to communicate with their family and friends, they’re also increasingly conducting their own business this way and will increasingly expect to be able to do so with their financial advisers. 2. The widespread government bailouts to the global economy are a sticking plaster. Once inevitably removed, markets will likely experience further volatility. There is going to be more demand for fast, scalable and effective communication with clients in the months ahead, not less. 3. The long-held belief that face-to-face advice is the only way to be successful is being challenged. It is unlikely to fall away altogether, but a greater blend of communication channels is likely to be needed and, with it, a different skills-mix for the adviser and their team. 4. The need to be compliant hasn’t gone away, and it never will. The increased use of unrecorded, or poorly indexed telephony and video conferencing solutions is creating a potential gap in the audit trail of advice. The desire to react and engage with clients through whatever channel and medium they desire is extremely prevalent right now. Many wealth managers are turning to technology solutions they’ve never used before in an effort to stay in contact with their clients. This is a good thing. It will allow workforces to be more flexible, more adaptable and certainly more cost-effective in the future. But doing so blind to the risks and long-term implications would be as dangerous as ignoring them altogether. The regulator will expect the same standards of practise regardless of the channels used, including strong evidence to support the advice and recommendations made. Firms that don’t have a strong handle on their audit trail and a good understanding of how they kept their clients’ data secure, treat customers fairly or have oversight blind spots will not be able to use “national crisis” as a get out of jail free card. #### How can Recordsure help? The way we live our lives; how we work, how we travel, how we socialise and how we shop may be changing but our wider financial needs and objectives haven’t. And because of that, clients’ need for good, reliable and compliant advice hasn’t changed either. Now more than ever, the wealth management industry needs to be on its toes. Since inception, Recordsure has developed [innovative tools](/technology/conversation-intelligence/) to tackle common challenges in the industry around compliance, customer experience and risk management. 1. A reliable and accessible recording platform that supports face-to-face, telephony and video conferencing solutions 2. Compliance-driven analytics that tell you what’s been discussed and where it was discussed in the conversation; enabling laser-focused interventions and prevention of future complaints, reduction in NPS and even remediation 3. Drive onboarding and ongoing relationship management efficiencies by removing the need for meeting notes with industry-leading transcription and key fact extraction for populating downstream processes **From guidance on new technological capabilities through to advice on implementation and future proofing, we are on hand to help share our expertise and that of our partner network in these times of change.** > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Remote relationship management: the future of wealth management?", "item": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/", "name": "Remote relationship management: the future of wealth management?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-04-16T07:41:20+01:00", "dateModified": "2022-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Remote relationship management: the future of wealth management?", "datePublished": "2020-04-16T07:41:20+01:00", "dateModified": "2026-10-09T04:50:19+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/1a7b8bfad68d4e7587b9abc1c825d7a5/thumbnail-1024-86c423a5ffaaa3f1e3ccf5d1a13ead196366ec5b5255cd57c6e547cb7a585f33.jpg", "description": "Wealth managers can maintain trusted advice relationships remotely while preserving evidence, oversight and client experience across changing communication channels.", "inLanguage": "en-GB", "articleBody": "Remote relationship management can support wealth clients, but firms must still evidence advice, protect data and maintain oversight across every channel.\n\nWealth management is a business that relies on high degrees of trust between client and adviser. When it comes to achieving a highly successful outcome for both the client and the firm, that relationship can make all the difference. So how does a relationship-led business enable its advisers to give good advice when face-to-face meetings are off the table?\n\nWealth management has long been a business that relies heavily on face-to-face meetings with clients in order to do business. With the majority of people around the industry currently turning to remote working, the opportunity and demand for face to face meetings is likely to diminish.\n\nThis doesn\u2019t mean that firms aren\u2019t trying to communicate with their clients. Of course they are. Client demand for interaction will never be higher than when markets are volatile and while this can force firms to rethink processes it also provides a powerful incentive to innovate and improve infrastructure.\n\nMany firms have issued blanket communications by letter or email to reassure clients. Those that have contact centres are bolstering staff numbers and fielding as many calls as possible. The better relationship managers have been calling their clients to assure them that things will get back to normal soon. To hang in there.\n\nClients will remember these personal touches, and will naturally be drawn to service providers who offer an excellent and consistent customer experience. This is particularly true in times of change.\n\nMarkets will eventually bounce back. But does \u201cgetting back to normal\u201d really mean going back to the way things were? Or is there a \u201cnew normal\u201d that wealth managers will need to adapt to?\n\nThe more that people grow comfortable with remote ways of working, the less likely it is that a behavioural bounce-back will occur. Wealth managers would do well to take note of a few interesting behavioural and environmental shifts that could become the norm in the very near future:\n\n1. Video conferencing has never been more popular. As older generations are turning to popular services such as Zoom and Skype to communicate with their family and friends, they\u2019re also increasingly conducting their own business this way and will increasingly expect to be able to do so with their financial advisers.\n2. The widespread government bailouts to the global economy are a sticking plaster. Once inevitably removed, markets will likely experience further volatility. There is going to be more demand for fast, scalable and effective communication with clients in the months ahead, not less.\n3. The long-held belief that face-to-face advice is the only way to be successful is being challenged. It is unlikely to fall away altogether, but a greater blend of communication channels is likely to be needed and, with it, a different skills-mix for the adviser and their team.\n4. The need to be compliant hasn\u2019t gone away, and it never will. The increased use of unrecorded, or poorly indexed telephony and video conferencing solutions is creating a potential gap in the audit trail of advice.\n\nThe desire to react and engage with clients through whatever channel and medium they desire is extremely prevalent right now.\n\nMany wealth managers are turning to technology solutions they\u2019ve never used before in an effort to stay in contact with their clients. This is a good thing. It will allow workforces to be more flexible, more adaptable and certainly more cost-effective in the future.\n\nBut doing so blind to the risks and long-term implications would be as dangerous as ignoring them altogether. The regulator will expect the same standards of practise regardless of the channels used, including strong evidence to support the advice and recommendations made.\n\nFirms that don\u2019t have a strong handle on their audit trail and a good understanding of how they kept their clients\u2019 data secure, treat customers fairly or have oversight blind spots will not be able to use \u201cnational crisis\u201d as a get out of jail free card.\n\nHow can Recordsure help?\n\nThe way we live our lives; how we work, how we travel, how we socialise and how we shop may be changing but our wider financial needs and objectives haven\u2019t.\n\nAnd because of that, clients\u2019 need for good, reliable and compliant advice hasn\u2019t changed either. Now more than ever, the wealth management industry needs to be on its toes.\n\nSince inception, Recordsure has developed innovative tools to tackle common challenges in the industry around compliance, customer experience and risk management.\n\n1. A reliable and accessible recording platform that supports face-to-face, telephony and video conferencing solutions\n2. Compliance-driven analytics that tell you what\u2019s been discussed and where it was discussed in the conversation; enabling laser-focused interventions and prevention of future complaints, reduction in NPS and even remediation\n3. Drive onboarding and ongoing relationship management efficiencies by removing the need for meeting notes with industry-leading transcription and key fact extraction for populating downstream processes\n\nFrom guidance on new technological capabilities through to advice on implementation and future proofing, we are on hand to help share our expertise and that of our partner network in these times of change.", "wordCount": 862, "keywords": [ "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Remote advice" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage" }, "inLanguage": "en-GB", "text": "Wealth management is a business that relies on high degrees of trust between client and adviser. When it comes to achieving a highly successful outcome for both the client and the firm, that relationship can make all the difference. So how does a relationship-led business enable its advisers to give good advice when face-to-face meetings are off the table?\n\nWealth management has long been a business that relies heavily on face-to-face meetings with clients in order to do business. With the majority of people around the industry currently turning to remote working, the opportunity and demand for face to face meetings is likely to diminish.\n\nThis doesn\u2019t mean that firms aren\u2019t trying to communicate with their clients. Of course they are. Client demand for interaction will never be higher than when markets are volatile and while this can force firms to rethink processes it also provides a powerful incentive to innovate and improve infrastructure.\n\nMany firms have issued blanket communications by letter or email to reassure clients. Those that have contact centres are bolstering staff numbers and fielding as many calls as possible. The better relationship managers have been calling their clients to assure them that things will get back to normal soon. To hang in there.\n\nClients will remember these personal touches, and will naturally be drawn to service providers who offer an excellent and consistent customer experience. This is particularly true in times of change.\n\nMarkets will eventually bounce back. But does \u201cgetting back to normal\u201d really mean going back to the way things were? Or is there a \u201cnew normal\u201d that wealth managers will need to adapt to?\n\nThe more that people grow comfortable with remote ways of working, the less likely it is that a behavioural bounce-back will occur. Wealth managers would do well to take note of a few interesting behavioural and environmental shifts that could become the norm in the very near future:\n\n1. Video conferencing has never been more popular. As older generations are turning to popular services such as Zoom and Skype to communicate with their family and friends, they\u2019re also increasingly conducting their own business this way and will increasingly expect to be able to do so with their financial advisers.\n2. The widespread government bailouts to the global economy are a sticking plaster. Once inevitably removed, markets will likely experience further volatility. There is going to be more demand for fast, scalable and effective communication with clients in the months ahead, not less.\n3. The long-held belief that face-to-face advice is the only way to be successful is being challenged. It is unlikely to fall away altogether, but a greater blend of communication channels is likely to be needed and, with it, a different skills-mix for the adviser and their team.\n4. The need to be compliant hasn\u2019t gone away, and it never will. The increased use of unrecorded, or poorly indexed telephony and video conferencing solutions is creating a potential gap in the audit trail of advice.\n\nThe desire to react and engage with clients through whatever channel and medium they desire is extremely prevalent right now.\n\nMany wealth managers are turning to technology solutions they\u2019ve never used before in an effort to stay in contact with their clients. This is a good thing. It will allow workforces to be more flexible, more adaptable and certainly more cost-effective in the future.\n\nBut doing so blind to the risks and long-term implications would be as dangerous as ignoring them altogether. The regulator will expect the same standards of practise regardless of the channels used, including strong evidence to support the advice and recommendations made.\n\nFirms that don\u2019t have a strong handle on their audit trail and a good understanding of how they kept their clients\u2019 data secure, treat customers fairly or have oversight blind spots will not be able to use \u201cnational crisis\u201d as a get out of jail free card." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "How can Recordsure help?", "text": "The way we live our lives; how we work, how we travel, how we socialise and how we shop may be changing but our wider financial needs and objectives haven\u2019t.\n\nAnd because of that, clients\u2019 need for good, reliable and compliant advice hasn\u2019t changed either. Now more than ever, the wealth management industry needs to be on its toes.\n\nSince inception, Recordsure has developed innovative tools to tackle common challenges in the industry around compliance, customer experience and risk management.\n\n1. A reliable and accessible recording platform that supports face-to-face, telephony and video conferencing solutions\n2. Compliance-driven analytics that tell you what\u2019s been discussed and where it was discussed in the conversation; enabling laser-focused interventions and prevention of future complaints, reduction in NPS and even remediation\n3. Drive onboarding and ongoing relationship management efficiencies by removing the need for meeting notes with industry-leading transcription and key fact extraction for populating downstream processes\n\nFrom guidance on new technological capabilities through to advice on implementation and future proofing, we are on hand to help share our expertise and that of our partner network in these times of change." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/remote-relationship-management-the-future-of-wealth-management/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What question should wealth managers answer?", "acceptedAnswer": { "@type": "Answer", "text": "Relationship-led firms need to help advisers give good advice when face-to-face meetings are unavailable." } }, { "@type": "Question", "name": "What remote working risks need managing?", "acceptedAnswer": { "@type": "Answer", "text": "Unrecorded or poorly indexed telephony and video conferencing can create gaps in the advice audit trail." } }, { "@type": "Question", "name": "What will regulators expect?", "acceptedAnswer": { "@type": "Answer", "text": "Regulators will expect the same standards of practice regardless of the communication channel used." } }, { "@type": "Question", "name": "How does Recordsure support remote advice?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure supports face-to-face, telephony and video conferencing with recording, analytics, transcription and key fact extraction." } } ] } ] } ``` ### Innovation and traditional values: driving change in wealth management - URL: https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/ - Published: 2020-04-07 - Modified: 2026-10-09 **Topic:** Wealth management innovation Wealth managers can use technology to strengthen relationship-led service, improve consistency and turn data into practical operational outputs. Client experience, efficiency and compliance insight increasingly reinforce each other. #### Key points - Wealth managers are using technology to improve traditional relationship-led service rather than replace it. - Consistent customer information helps advisers maintain continuity across touchpoints and adviser changes. - AI, analytics and automation can reduce manual follow-up after meetings and calls. - Compliance insight can support customer care, reputation and operational improvement. - Technology raises client expectations while giving firms more tools to understand and serve them. **Wealth management is a perfect example of an industry built on traditional principles like relationship management, but increasingly dependent on breakthrough technologies to support these.** The driver for this change varies widely. Lead generation, staying on top of regulatory changes and enhancing the customer experience were among the forerunners, but technology is now creeping in and underpinning workflows across the entire spectrum. This is a general truth, but never more so than in the current climate as coronavirus disrupts processes and forces remote working. Increasingly, wealth managers need an understanding of this landscape in order to provide the highest standards of service to clients. More often than not, the adoption of tech solutions is not about creating a new approach but improving an existing one. In most cases, the key ingredient is the ability to harness big data and turn it into a practical output to conduct traditional tasks more effectively. #### Forging strong client relationships One key area that is prime for this is boosting the customer experience. The ability to forge a strong relationship with clients has always been the life blood of wealth managers. While this will never change and will always be essential, it does lead to an important question: how does it scale? In this day and age, clients interact with brands across multiple touch points and expect a consistent experience and messaging throughout. Add to this the disruption caused when a manager changes jobs and their successor needs to pick up where they left off. Consistency across these areas is becoming more and more important, and a unified customer experience is extremely difficult without the infrastructure in place to support. This isn’t just about recording all the necessary customer information and insights, but making sure it is readily accessible. #### Harnessing data to build a competitive advantage Getting the customer experience right boosts brand reputation and helps generate up-sell opportunities which in turn add to a company’s competitive advantage. Savvy firms are going further than this though by driving material efficiencies through clever use of their customer information. AI, analytics and automation capabilities are moving quickly in this space. Again, it is not a case of reinventing the wheel in most cases but building on existing workflows to make them more effective and delegating tasks to smart tools freeing up time for human teams to invest elsewhere. For instance, every hour of meeting with a client can easily create an hour of follow-up work. A lot of this will be things like data entry into IT systems and letter or document writing. Traditional workflows will see the adviser undergoing these chores, but this is no longer necessary. Meetings and phone calls can now be auto-summarised with fact find information and other key details automatically detected by specialist software and input into IT systems. Innovations like this not only slash the hours required to do this work manually but it allows highly skilled advisers to pass on elements of the workload to back office support teams without them needing to join the initial conversation. Streamlining processes like this results in direct competitive advantage, but it also frees up time that can be spent with clients further boosting the customer experience. #### Compliance as a driver for innovation No discussion of data within financial services would be complete without taking a look at compliance. Once viewed as a restrictor and inhibitor of innovation, compliance has made a remarkable comeback and is now the driving force behind numerous emerging technologies. The fact that is often overlooked is that compliance and customer care are inextricably linked. Both disciplines depend on accurate client records and the infrastructure to understand this information at scale, which has seen the role of compliance teams in many firms evolving from policing to offering insights that bring value to other areas of the business. For instance, we often see financial services messaging, workflows and products changing in response to insights generated by compliance teams who have identified common bottlenecks or cross-sell opportunities. Elements of compliance also feed directly into the customer experience. For instance, a client will be much more comfortable working with an organisation with advanced risk management systems in place as opposed to one that is less proactive in protecting them. Compliance will underpin or undermine a brand’s reputation. Get it right and it will help strengthen loyalty amongst clients, but failure to instil a sense of confidence in this space will have the opposite effect. #### The shifting expectations of wealth managers More often than not, pursuing change will integrate with and have knock-on benefits for other areas of business. Driving efficiencies can cut costs but also free up time that can be spent with customers. Strengthening audit trails and quality assurance will generate information to boost the customer experience as well as compliance provided you have the tools to harness the data. Getting the customer experience consistent across multiple stakeholders and departments will naturally drive efficiencies. For organisations that get this right, the opportunities are vast. As the technology evolves, so does the level of expectation upon wealth managers for the quality of service they offer. This brings with it new challenges, not least the need to stay abreast of new solutions as they gain traction in the market. However, wealth managers have access to more tools than ever to understand their audience, automate processes and put the customer first, with genuine opportunities to get ahead of the curve. #### Supporting sources - [BrightTALK webcast](https://www.brighttalk.com/webcast/17971/388818) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Innovation and traditional values: driving change in wealth management", "item": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/", "name": "Innovation and traditional values: driving change in wealth management", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2020-04-07T08:32:17+01:00", "dateModified": "2020-12-09T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-12-09" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Innovation and traditional values: driving change in wealth management", "datePublished": "2020-04-07T08:32:17+01:00", "dateModified": "2026-10-09T04:50:15+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c5871afadb604b6aa20522bd39261cad/thumbnail-1024-11be4ce56500026ecfb270bdb759c4d8cf8dd10195e4027cd1086af9d1851bd1.jpg", "description": "Wealth management is built on traditional principles like relationship management, but increasingly depends on breakthrough technologies to support them.", "inLanguage": "en-GB", "articleBody": "Wealth managers can use technology to strengthen relationship-led service, improve consistency and turn data into practical operational outputs. Client experience, efficiency and compliance insight increasingly reinforce each other.\n\nWealth management is a perfect example of an industry built on traditional principles like relationship management, but increasingly dependent on breakthrough technologies to support these.\n\nThe driver for this change varies widely. Lead generation, staying on top of regulatory changes and enhancing the customer experience were among the forerunners, but technology is now creeping in and underpinning workflows across the entire spectrum. This is a general truth, but never more so than in the current climate as coronavirus disrupts processes and forces remote working.\n\nIncreasingly, wealth managers need an understanding of this landscape in order to provide the highest standards of service to clients. More often than not, the adoption of tech solutions is not about creating a new approach but improving an existing one. In most cases, the key ingredient is the ability to harness big data and turn it into a practical output to conduct traditional tasks more effectively.\n\nForging strong client relationships\n\nOne key area that is prime for this is boosting the customer experience. The ability to forge a strong relationship with clients has always been the life blood of wealth managers.\n\nWhile this will never change and will always be essential, it does lead to an important question: how does it scale?\n\nIn this day and age, clients interact with brands across multiple touch points and expect a consistent experience and messaging throughout. Add to this the disruption caused when a manager changes jobs and their successor needs to pick up where they left off.\n\nConsistency across these areas is becoming more and more important, and a unified customer experience is extremely difficult without the infrastructure in place to support. This isn\u2019t just about recording all the necessary customer information and insights, but making sure it is readily accessible.\n\nHarnessing data to build a competitive advantage\n\nGetting the customer experience right boosts brand reputation and helps generate up-sell opportunities which in turn add to a company\u2019s competitive advantage. Savvy firms are going further than this though by driving material efficiencies through clever use of their customer information.\n\nAI, analytics and automation capabilities are moving quickly in this space. Again, it is not a case of reinventing the wheel in most cases but building on existing workflows to make them more effective and delegating tasks to smart tools freeing up time for human teams to invest elsewhere.\n\nFor instance, every hour of meeting with a client can easily create an hour of follow-up work. A lot of this will be things like data entry into IT systems and letter or document writing. Traditional workflows will see the adviser undergoing these chores, but this is no longer necessary.\n\nMeetings and phone calls can now be auto-summarised with fact find information and other key details automatically detected by specialist software and input into IT systems. Innovations like this not only slash the hours required to do this work manually but it allows highly skilled advisers to pass on elements of the workload to back office support teams without them needing to join the initial conversation.\n\nStreamlining processes like this results in direct competitive advantage, but it also frees up time that can be spent with clients further boosting the customer experience.\n\nCompliance as a driver for innovation\n\nNo discussion of data within financial services would be complete without taking a look at compliance. Once viewed as a restrictor and inhibitor of innovation, compliance has made a remarkable comeback and is now the driving force behind numerous emerging technologies.\n\nThe fact that is often overlooked is that compliance and customer care are inextricably linked. Both disciplines depend on accurate client records and the infrastructure to understand this information at scale, which has seen the role of compliance teams in many firms evolving from policing to offering insights that bring value to other areas of the business. For instance, we often see financial services messaging, workflows and products changing in response to insights generated by compliance teams who have identified common bottlenecks or cross-sell opportunities.\n\nElements of compliance also feed directly into the customer experience. For instance, a client will be much more comfortable working with an organisation with advanced risk management systems in place as opposed to one that is less proactive in protecting them.\n\nCompliance will underpin or undermine a brand\u2019s reputation. Get it right and it will help strengthen loyalty amongst clients, but failure to instil a sense of confidence in this space will have the opposite effect.\n\nThe shifting expectations of wealth managers\n\nMore often than not, pursuing change will integrate with and have knock-on benefits for other areas of business. Driving efficiencies can cut costs but also free up time that can be spent with customers. Strengthening audit trails and quality assurance will generate information to boost the customer experience as well as compliance provided you have the tools to harness the data. Getting the customer experience consistent across multiple stakeholders and departments will naturally drive efficiencies. For organisations that get this right, the opportunities are vast.\n\nAs the technology evolves, so does the level of expectation upon wealth managers for the quality of service they offer. This brings with it new challenges, not least the need to stay abreast of new solutions as they gain traction in the market. However, wealth managers have access to more tools than ever to understand their audience, automate processes and put the customer first, with genuine opportunities to get ahead of the curve.", "wordCount": 933, "keywords": [ "Government", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Wealth management innovation" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "BrightTALK webcast", "url": "https://www.brighttalk.com/webcast/17971/388818" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "text": "Wealth management is a perfect example of an industry built on traditional principles like relationship management, but increasingly dependent on breakthrough technologies to support these.\n\nThe driver for this change varies widely. Lead generation, staying on top of regulatory changes and enhancing the customer experience were among the forerunners, but technology is now creeping in and underpinning workflows across the entire spectrum. This is a general truth, but never more so than in the current climate as coronavirus disrupts processes and forces remote working.\n\nIncreasingly, wealth managers need an understanding of this landscape in order to provide the highest standards of service to clients. More often than not, the adoption of tech solutions is not about creating a new approach but improving an existing one. In most cases, the key ingredient is the ability to harness big data and turn it into a practical output to conduct traditional tasks more effectively." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Forging strong client relationships", "text": "One key area that is prime for this is boosting the customer experience. The ability to forge a strong relationship with clients has always been the life blood of wealth managers.\n\nWhile this will never change and will always be essential, it does lead to an important question: how does it scale?\n\nIn this day and age, clients interact with brands across multiple touch points and expect a consistent experience and messaging throughout. Add to this the disruption caused when a manager changes jobs and their successor needs to pick up where they left off.\n\nConsistency across these areas is becoming more and more important, and a unified customer experience is extremely difficult without the infrastructure in place to support. This isn\u2019t just about recording all the necessary customer information and insights, but making sure it is readily accessible." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Harnessing data to build a competitive advantage", "text": "Getting the customer experience right boosts brand reputation and helps generate up-sell opportunities which in turn add to a company\u2019s competitive advantage. Savvy firms are going further than this though by driving material efficiencies through clever use of their customer information.\n\nAI, analytics and automation capabilities are moving quickly in this space. Again, it is not a case of reinventing the wheel in most cases but building on existing workflows to make them more effective and delegating tasks to smart tools freeing up time for human teams to invest elsewhere.\n\nFor instance, every hour of meeting with a client can easily create an hour of follow-up work. A lot of this will be things like data entry into IT systems and letter or document writing. Traditional workflows will see the adviser undergoing these chores, but this is no longer necessary.\n\nMeetings and phone calls can now be auto-summarised with fact find information and other key details automatically detected by specialist software and input into IT systems. Innovations like this not only slash the hours required to do this work manually but it allows highly skilled advisers to pass on elements of the workload to back office support teams without them needing to join the initial conversation.\n\nStreamlining processes like this results in direct competitive advantage, but it also frees up time that can be spent with clients further boosting the customer experience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "Compliance as a driver for innovation", "text": "No discussion of data within financial services would be complete without taking a look at compliance. Once viewed as a restrictor and inhibitor of innovation, compliance has made a remarkable comeback and is now the driving force behind numerous emerging technologies.\n\nThe fact that is often overlooked is that compliance and customer care are inextricably linked. Both disciplines depend on accurate client records and the infrastructure to understand this information at scale, which has seen the role of compliance teams in many firms evolving from policing to offering insights that bring value to other areas of the business. For instance, we often see financial services messaging, workflows and products changing in response to insights generated by compliance teams who have identified common bottlenecks or cross-sell opportunities.\n\nElements of compliance also feed directly into the customer experience. For instance, a client will be much more comfortable working with an organisation with advanced risk management systems in place as opposed to one that is less proactive in protecting them.\n\nCompliance will underpin or undermine a brand\u2019s reputation. Get it right and it will help strengthen loyalty amongst clients, but failure to instil a sense of confidence in this space will have the opposite effect." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "headline": "The shifting expectations of wealth managers", "text": "More often than not, pursuing change will integrate with and have knock-on benefits for other areas of business. Driving efficiencies can cut costs but also free up time that can be spent with customers. Strengthening audit trails and quality assurance will generate information to boost the customer experience as well as compliance provided you have the tools to harness the data. Getting the customer experience consistent across multiple stakeholders and departments will naturally drive efficiencies. For organisations that get this right, the opportunities are vast.\n\nAs the technology evolves, so does the level of expectation upon wealth managers for the quality of service they offer. This brings with it new challenges, not least the need to stay abreast of new solutions as they gain traction in the market. However, wealth managers have access to more tools than ever to understand their audience, automate processes and put the customer first, with genuine opportunities to get ahead of the curve." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/innovation-and-traditional-values-driving-change-in-wealth-management/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is technology becoming important in wealth management?", "acceptedAnswer": { "@type": "Answer", "text": "Technology helps wealth managers improve existing relationship-led work, manage data and support consistent client experiences." } }, { "@type": "Question", "name": "How can data support advisers?", "acceptedAnswer": { "@type": "Answer", "text": "Data can help advisers capture client information, automate follow-up tasks and make insights available across teams." } }, { "@type": "Question", "name": "Why does compliance matter to client experience?", "acceptedAnswer": { "@type": "Answer", "text": "Compliance and customer care both depend on accurate records, risk management and confidence in the firm." } } ] } ] } ``` ### Recordsure and Wealth Dynamix join forces to transform client engagement at scale - URL: https://recordsure.com/insights/analysis-and-perspective/recordsure-and-wealth-dynamix-join-forces-to-transform-client-engagement-at-scale/ - Published: 2020-03-03 - Modified: 2026-10-09 **Topic:** Client engagement Recordsure and Wealth Dynamix announced an alliance combining Recordsure’s voice and text analytics with Wealth Dynamix’s CLM platform for wealth managers. #### Key points - The alliance combines Recordsure analytics with Wealth Dynamix’s CLM platform. - The combined platform is intended to support a 360-degree view of client engagement. - Voice recordings, written documents and CRM data can be searched, sorted and filtered. - Alerts highlight gaps, trends and process issues for supervisors and governance teams. Recordsure and [Wealth Dynamix](http://www.wealth-dynamix.com), a global leader in Client Lifecycle Management (CLM) solutions, have announced an alliance to support wealth managers in improving client engagement across the entire client lifecycle. #### The Wealth Dynamix platform By incorporating Recordsure’s innovative AI-driven voice and text analytics into the Wealth Dynamix [CLM platform](https://www.wealth-dynamix.com/client-lifecycle-management/), wealth managers will benefit from faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insights to help accelerate conversions and the ability to identify new opportunities for revenue generation. WDX1 is the flagship, multi-award winning digital CLM solution from Wealth Dynamix, designed to support the complex requirements of wealth management companies from a single unified platform. Its capabilities span the entire client lifecycle, including client acquisition, client engagement, digital onboarding, regulatory compliance, relationship management, client servicing, and business intelligence. #### Combined client records and alerts The alliance will use Recordsure’s ability to turn customer conversations and documentation into valuable insights while also maintaining a fully compliant and easily navigable audit trail. The platform classifies the properties and content of all voice recordings and written documents, automatically applying a vast array of tags including topics of conversation, actions and outcomes, date, time, and length. All transcripts and recordings will be retained alongside Wealth Dynamix CRM data in a highly structured and organised form providing relationship managers with the ability to access, search, sort and filter client data quickly and cost-effectively to facilitate next best action decision-making. When gaps arise or trends are identified, Recordsure will automatically alert the right person at the right time empowering those operating in a supervisory or governance capacity to improve customer service as well as assurance. They will also be alerted to gaps in processes that are hindering progress based on the journey a specific client is taking and will be able to take remedial action as required. #### Leadership views Joe Norburn, CEO at Recordsure, stated “We are delighted to be partnering with Wealth Dynamix to deliver data-driven, actionable insights for relationship managers in a single view. For wealth managers, client engagement is the lifeblood of the industry, which can feel increasingly challenging under growing regulatory scrutiny. We are excited that our specialist expertise in AI speech and document analytics is driving progress in the sector, enabling relationship managers to operate faster, smarter and more cost-effectively, while fully meeting their compliance obligations.” According to Antony Bream, Managing Director – UK, Benelux and Americas at Wealth Dynamix, “Most wealth managers are still striving to achieve the utopia that relationship managers are crying out for, which is a single place to go for a 360-degree view of every client. In partnering with Recordsure, Wealth Dynamix is orchestrating a step change in the way that wealth managers can manage client engagements more profitably in the future, across the entire client lifecycle. The alliance also demonstrates our commitment to inject high levels of intelligent automation, to support our delivery of a functionally-rich Advisor Workstation.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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"https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/c96dccac002f444a8b25347276e21046/thumbnail-1024-87d92a63b5162d4e8ded314d2331016ba572c5dc2122ef9bbb5a897f376a325a.jpg", "description": "Recordsure and Wealth Dynamix announced an alliance to help wealth managers analyse client touchpoints, improve engagement and maintain clearer audit trails across the lifecycle.", "inLanguage": "en-GB", "articleBody": "Recordsure and Wealth Dynamix announced an alliance combining Recordsure\u2019s voice and text analytics with Wealth Dynamix\u2019s CLM platform for wealth managers.\n\nRecordsure and Wealth Dynamix, a global leader in Client Lifecycle Management (CLM) solutions, have announced an alliance to support wealth managers in improving client engagement across the entire client lifecycle.\n\nThe Wealth Dynamix platform\n\nBy incorporating Recordsure\u2019s innovative AI-driven voice and text analytics into the Wealth Dynamix CLM platform, wealth managers will benefit from faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insights to help accelerate conversions and the ability to identify new opportunities for revenue generation.\n\nWDX1 is the flagship, multi-award winning digital CLM solution from Wealth Dynamix, designed to support the complex requirements of wealth management companies from a single unified platform. Its capabilities span the entire client lifecycle, including client acquisition, client engagement, digital onboarding, regulatory compliance, relationship management, client servicing, and business intelligence.\n\nCombined client records and alerts\n\nThe alliance will use Recordsure\u2019s ability to turn customer conversations and documentation into valuable insights while also maintaining a fully compliant and easily navigable audit trail. The platform classifies the properties and content of all voice recordings and written documents, automatically applying a vast array of tags including topics of conversation, actions and outcomes, date, time, and length. All transcripts and recordings will be retained alongside Wealth Dynamix CRM data in a highly structured and organised form providing relationship managers with the ability to access, search, sort and filter client data quickly and cost-effectively to facilitate next best action decision-making.\n\nWhen gaps arise or trends are identified, Recordsure will automatically alert the right person at the right time empowering those operating in a supervisory or governance capacity to improve customer service as well as assurance. They will also be alerted to gaps in processes that are hindering progress based on the journey a specific client is taking and will be able to take remedial action as required.\n\nLeadership views\n\nJoe Norburn, CEO at Recordsure, stated \u201cWe are delighted to be partnering with Wealth Dynamix to deliver data-driven, actionable insights for relationship managers in a single view. 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Its capabilities span the entire client lifecycle, including client acquisition, client engagement, digital onboarding, regulatory compliance, relationship management, client servicing, and business intelligence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-and-wealth-dynamix-join-forces-to-transform-client-engagement-at-scale/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-and-wealth-dynamix-join-forces-to-transform-client-engagement-at-scale/#webpage" }, "inLanguage": "en-GB", "headline": "Combined client records and alerts", "text": "The alliance will use Recordsure\u2019s ability to turn customer conversations and documentation into valuable insights while also maintaining a fully compliant and easily navigable audit trail. The platform classifies the properties and content of all voice recordings and written documents, automatically applying a vast array of tags including topics of conversation, actions and outcomes, date, time, and length. All transcripts and recordings will be retained alongside Wealth Dynamix CRM data in a highly structured and organised form providing relationship managers with the ability to access, search, sort and filter client data quickly and cost-effectively to facilitate next best action decision-making.\n\nWhen gaps arise or trends are identified, Recordsure will automatically alert the right person at the right time empowering those operating in a supervisory or governance capacity to improve customer service as well as assurance. They will also be alerted to gaps in processes that are hindering progress based on the journey a specific client is taking and will be able to take remedial action as required." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-and-wealth-dynamix-join-forces-to-transform-client-engagement-at-scale/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-and-wealth-dynamix-join-forces-to-transform-client-engagement-at-scale/#webpage" }, "inLanguage": "en-GB", "headline": "Leadership views", "text": "Joe Norburn, CEO at Recordsure, stated \u201cWe are delighted to be partnering with Wealth Dynamix to deliver data-driven, actionable insights for relationship managers in a single view. For wealth managers, client engagement is the lifeblood of the industry, which can feel increasingly challenging under growing regulatory scrutiny. We are excited that our specialist expertise in AI speech and document analytics is driving progress in the sector, enabling relationship managers to operate faster, smarter and more cost-effectively, while fully meeting their compliance obligations.\u201d\n\nAccording to Antony Bream, Managing Director \u2013 UK, Benelux and Americas at Wealth Dynamix, \u201cMost wealth managers are still striving to achieve the utopia that relationship managers are crying out for, which is a single place to go for a 360-degree view of every client. In partnering with Recordsure, Wealth Dynamix is orchestrating a step change in the way that wealth managers can manage client engagements more profitably in the future, across the entire client lifecycle. 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And among discussion of market data and regulatory focus, Gupta made a recommendation that did not go unnoticed. A practical way for advisers to understand their clients, she said, is to record client interactions. This suggestion of making recordings of conversations has had a slightly fraught history, with the FCA withdrawing its plans to make advisers tape their phone conversations, following an outcry from the industry. But now this suggestion is back on the table. Gupta was keen to emphasise that this is by no means a requirement. But, she said, firms who have recorded customer meetings have seen better outcomes and given better advice. #### Why record meetings? While the attempts to get advisers to make recordings of meetings has caused controversy in the past, it’s clear why the regulator continues to promote the approach. Having verbatim, detailed evidence of conversations can serve an adviser well if they’re faced with a complaint in the future. Not only can it prove the adviser was doing the right thing, it gives essential context to explain the recommendations clients were given. A more accurate portrayal of the client also leads to better advice. ‘This is because’ Gupta pointed out ‘the adviser could understand and empathise with the client and tailor the advice to the individual client.’ But it’s not just about audit trails and getting in the clients’ head. Conversations are better when you’re not trying to scribble notes throughout them or clutching at details to write down later. And better conversations make for better customer service. #### Progression in tech As the technology to make these kinds of recordings progresses, so does it become more and more accessible to advisers and firms of all sizes. IFAs and small firms are no longer excluded from being able to carry out this kind of record keeping practice. There was a time when recording meetings would require specialist equipment and resources which were only available to larger organisations. But today everyone now carries a quality microphone with them at all times in their smartphone. Things have changed. In some respects smaller firms are actually better positioned when it comes to recording meetings. They are far less affected by a challenge which plagues large organisations: how do you manage, process and monitor data on an industrial scale? Luckily further tech advances – Recordsure being a prime example – not only make this possible but allow organisations to uncover commercial insights. It’s not just a case of recording conversations to use to demonstrate compliance, but having the ability to see what’s happening across a breadth of interactions, and acting on it. Recording meetings isn’t just important for evidencing, accuracy and improving customer service. When done on a larger scale it empowers firms to spot trends, issues and opportunities to develop staff and improve commercial outcomes. #### What’s next? Though there’s no immediate indication that the regulator will implement requirements for advisers to record all customer conversations, the reappearance of this suggestion is worth paying attention to. As tech solutions become ever more accessible and easier to use, and as their use continues to demonstrate improved customer outcomes, could Gupta’s suggestion be an early indicator of wider FCA changes to come? Worldwide, multiple regulators have suggested that as new tools become available they will be increasingly asking firms why they are not taking advantage of them. With regulators and consumers alike demanding improved transparency, risk management and customer outcomes, it seems inevitable that regulations will need to evolve in order to keep up. #### Supporting sources - [FCA speech on improving suitability of financial advice](https://www.fca.org.uk/news/speeches/improving-suitability-financial-advice) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Will financial advisers be made to record client meetings?", "item": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/", "name": "Will financial advisers be made to record client meetings?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-10-15T14:22:41+01:00", "dateModified": "2020-06-15T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-06-15" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Will financial advisers be made to record client meetings?", "datePublished": "2019-10-15T14:22:41+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3575f73066ef412fabb9ca1bd7df29b5/thumbnail-1024-562166c45a63ff0350c3ca4b0a284d8279ee5ac8e9b6a3694bf954ff0a82e29b.jpg", "description": "An FCA speech renewed attention on recording client interactions and why recordings can support suitability, evidence and better advice.", "inLanguage": "en-GB", "articleBody": "FCA comments on recording client interactions raise a practical question for advisers: as technology improves outcomes and accessibility, recording may become a wider expectation.\n\nIn a speech at the Money Marketing Interactive Conference 2019, Debbie Gupta, director of life insurance and financial advice supervision at the FCA, talked about the current suitability of financial advice.\n\nOne of the focuses of the speech was that, to provide the most appropriate and useful advice, an adviser needs to really know their client. And among discussion of market data and regulatory focus, Gupta made a recommendation that did not go unnoticed.\n\nA practical way for advisers to understand their clients, she said, is to record client interactions.\n\nThis suggestion of making recordings of conversations has had a slightly fraught history, with the FCA withdrawing its plans to make advisers tape their phone conversations, following an outcry from the industry.\n\nBut now this suggestion is back on the table. Gupta was keen to emphasise that this is by no means a requirement. But, she said, firms who have recorded customer meetings have seen better outcomes and given better advice.\n\nWhy record meetings?\n\nWhile the attempts to get advisers to make recordings of meetings has caused controversy in the past, it\u2019s clear why the regulator continues to promote the approach.\n\nHaving verbatim, detailed evidence of conversations can serve an adviser well if they\u2019re faced with a complaint in the future. Not only can it prove the adviser was doing the right thing, it gives essential context to explain the recommendations clients were given.\n\nA more accurate portrayal of the client also leads to better advice. \u2018This is because\u2019 Gupta pointed out \u2018the adviser could understand and empathise with the client and tailor the advice to the individual client.\u2019\n\nBut it\u2019s not just about audit trails and getting in the clients\u2019 head. Conversations are better when you\u2019re not trying to scribble notes throughout them or clutching at details to write down later. And better conversations make for better customer service.\n\nProgression in tech\n\nAs the technology to make these kinds of recordings progresses, so does it become more and more accessible to advisers and firms of all sizes. IFAs and small firms are no longer excluded from being able to carry out this kind of record keeping practice.\n\nThere was a time when recording meetings would require specialist equipment and resources which were only available to larger organisations. But today everyone now carries a quality microphone with them at all times in their smartphone. Things have changed.\n\nIn some respects smaller firms are actually better positioned when it comes to recording meetings. They are far less affected by a challenge which plagues large organisations: how do you manage, process and monitor data on an industrial scale?\n\nLuckily further tech advances \u2013 Recordsure being a prime example \u2013 not only make this possible but allow organisations to uncover commercial insights. It\u2019s not just a case of recording conversations to use to demonstrate compliance, but having the ability to see what\u2019s happening across a breadth of interactions, and acting on it.\n\nRecording meetings isn\u2019t just important for evidencing, accuracy and improving customer service. When done on a larger scale it empowers firms to spot trends, issues and opportunities to develop staff and improve commercial outcomes.\n\nWhat\u2019s next?\n\nThough there\u2019s no immediate indication that the regulator will implement requirements for advisers to record all customer conversations, the reappearance of this suggestion is worth paying attention to.\n\nAs tech solutions become ever more accessible and easier to use, and as their use continues to demonstrate improved customer outcomes, could Gupta\u2019s suggestion be an early indicator of wider FCA changes to come?\n\nWorldwide, multiple regulators have suggested that as new tools become available they will be increasingly asking firms why they are not taking advantage of them. With regulators and consumers alike demanding improved transparency, risk management and customer outcomes, it seems inevitable that regulations will need to evolve in order to keep up.", "wordCount": 663, "keywords": [ "Insurance", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Recording advice meetings" } ], "audience": [ { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA speech on improving suitability of financial advice", "url": "https://www.fca.org.uk/news/speeches/improving-suitability-financial-advice" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "inLanguage": "en-GB", "text": "In a speech at the Money Marketing Interactive Conference 2019, Debbie Gupta, director of life insurance and financial advice supervision at the FCA, talked about the current suitability of financial advice.\n\nOne of the focuses of the speech was that, to provide the most appropriate and useful advice, an adviser needs to really know their client. And among discussion of market data and regulatory focus, Gupta made a recommendation that did not go unnoticed.\n\nA practical way for advisers to understand their clients, she said, is to record client interactions.\n\nThis suggestion of making recordings of conversations has had a slightly fraught history, with the FCA withdrawing its plans to make advisers tape their phone conversations, following an outcry from the industry.\n\nBut now this suggestion is back on the table. Gupta was keen to emphasise that this is by no means a requirement. But, she said, firms who have recorded customer meetings have seen better outcomes and given better advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "inLanguage": "en-GB", "headline": "Why record meetings?", "text": "While the attempts to get advisers to make recordings of meetings has caused controversy in the past, it\u2019s clear why the regulator continues to promote the approach.\n\nHaving verbatim, detailed evidence of conversations can serve an adviser well if they\u2019re faced with a complaint in the future. Not only can it prove the adviser was doing the right thing, it gives essential context to explain the recommendations clients were given.\n\nA more accurate portrayal of the client also leads to better advice. \u2018This is because\u2019 Gupta pointed out \u2018the adviser could understand and empathise with the client and tailor the advice to the individual client.\u2019\n\nBut it\u2019s not just about audit trails and getting in the clients\u2019 head. Conversations are better when you\u2019re not trying to scribble notes throughout them or clutching at details to write down later. And better conversations make for better customer service." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "inLanguage": "en-GB", "headline": "Progression in tech", "text": "As the technology to make these kinds of recordings progresses, so does it become more and more accessible to advisers and firms of all sizes. IFAs and small firms are no longer excluded from being able to carry out this kind of record keeping practice.\n\nThere was a time when recording meetings would require specialist equipment and resources which were only available to larger organisations. But today everyone now carries a quality microphone with them at all times in their smartphone. Things have changed.\n\nIn some respects smaller firms are actually better positioned when it comes to recording meetings. They are far less affected by a challenge which plagues large organisations: how do you manage, process and monitor data on an industrial scale?\n\nLuckily further tech advances \u2013 Recordsure being a prime example \u2013 not only make this possible but allow organisations to uncover commercial insights. It\u2019s not just a case of recording conversations to use to demonstrate compliance, but having the ability to see what\u2019s happening across a breadth of interactions, and acting on it.\n\nRecording meetings isn\u2019t just important for evidencing, accuracy and improving customer service. When done on a larger scale it empowers firms to spot trends, issues and opportunities to develop staff and improve commercial outcomes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "inLanguage": "en-GB", "headline": "What\u2019s next?", "text": "Though there\u2019s no immediate indication that the regulator will implement requirements for advisers to record all customer conversations, the reappearance of this suggestion is worth paying attention to.\n\nAs tech solutions become ever more accessible and easier to use, and as their use continues to demonstrate improved customer outcomes, could Gupta\u2019s suggestion be an early indicator of wider FCA changes to come?\n\nWorldwide, multiple regulators have suggested that as new tools become available they will be increasingly asking firms why they are not taking advantage of them. With regulators and consumers alike demanding improved transparency, risk management and customer outcomes, it seems inevitable that regulations will need to evolve in order to keep up." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-financial-advisers-be-made-to-record-client-meetings/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Did the FCA say recording client meetings is required?", "acceptedAnswer": { "@type": "Answer", "text": "No. Debbie Gupta emphasised that recording meetings was not a requirement." } }, { "@type": "Question", "name": "Why can recording meetings help advisers?", "acceptedAnswer": { "@type": "Answer", "text": "Recordings provide detailed evidence, context for recommendations and a more accurate picture of the client." } }, { "@type": "Question", "name": "How has technology changed the practicality of recording?", "acceptedAnswer": { "@type": "Answer", "text": "Recording is more accessible because firms no longer necessarily need specialist equipment and resources." } } ] } ] } ``` ### AI, financial services, and the paradox of building trust - URL: https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/ - Published: 2019-08-06 - Modified: 2026-10-09 **Topic:** AI trust AI creates a trust paradox in financial services. Customer-focused explanation and transparent use are essential if AI is to improve confidence in the sector. #### Key points - Public trust in AI is fragile, shaped by science fiction fears and data scandals. - Financial services is also rebuilding trust after the financial crisis. - The FCA has highlighted that technology relies on public trust and willingness to use it. - Recordsure’s experience suggests customers accept technology when its purpose and benefits are clearly explained. **Trust is a big concept. It forges relationships and progresses ideas, and is pretty much the foundation upon which societies are built.** Once trust is lost, whether destroyed by one action or eroded over time, it can be a monumental struggle to regain. With artificial intelligence, that trust was not necessarily there to begin with. For as long as humans have imagined artificial beings capable of thought, they have also worried about the ethics and dangers attached to them. #### Science fiction, reality, and everything in between For many people, AI still suggests dystopian futures, human extinction and robot overlords. This sits alongside everyday reliance on AI, from Netflix recommendations and email spam filters to Siri. Scandals such as Facebook Cambridge Analytica reinforced public fears about data mining, influence and privacy. Any trust that had been building was damaged, and the conversation casting AI as a threat resumed. #### AI meets financial services Financial services has its own trust issues. The financial crisis led to more than a decade of work to rebuild public trust after a major loss of faith. That effort has led to progress in responsibility, regulation and innovation, but there is still a long way to go. In a [speech delivered at The Alan Turing Institute’s AI ethics in the financial sector conference](https://www.fca.org.uk/news/speeches/future-regulation-ai-consumer-good), the FCA’s Christopher Woolard considered the use of AI for consumer good. He examined the role artificial intelligence could play in the future of financial services and the FCA’s part in that future. > technology relies on public trust and a willingness to use it #### Technology for good AI has the power to bring positive change to financial services. Technology such as Recordsure can support a future where automation makes good customer care an inherent part of the process. Elsewhere, AI is tackling financial crime in ways that were not possible before, while machine learning improves accessibility for customers interacting with their finances. Given the chance, AI could be fundamental to restoring public faith in financial services, but only if it builds its own store of public trust. That depends not on AI itself, but on the humans who create and deploy it. Trust comes from a belief that best intentions are being acted on, and the key question is whether powerful AI tools are used consistently to add value for customers or to exploit them. #### Solving this paradox Popular uptake can indicate credibility and trust, but lack of wide adoption is typical of new innovation and can have the opposite effect. Customers respond best to new technology and processes when they are explained properly. That does not mean overloading them with terms and conditions, which Woolard points out can be off-putting, but being honest and transparent. Firms use technology tools for many reasons. When customers and their data are involved, firms need to articulate what the technology is doing and why it is in the customer’s best interest. If there is no explanation of customer value, the firm should reconsider whether the technology should be used. Recordsure has seen a clear trend among end customers offered the service by their banks. In most instances, Recordsure was embraced. The small minority who rejected the technology correlated strongly with cases where the purpose or benefits had not been communicated. #### What this shows us When an interaction began with an open conversation explaining what the technology did, customers were on board. They understood that the technology was there to offer transparency, give confidence that they were receiving sound advice and make it possible to identify issues early. The lesson is that deploying new technology must be customer-focused. For it to succeed, the benefits need to be articulated in a transparent, customer-centric and accessible way. As firms use more AI, they need to keep customers informed so trust can be built in both technology and financial services. #### Supporting sources - [FCA speech on the future regulation of AI for consumer good](https://www.fca.org.uk/news/speeches/future-regulation-ai-consumer-good) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "AI, financial services, and the paradox of building trust", "item": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/", "name": "AI, financial services, and the paradox of building trust", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-08-06T09:39:50+01:00", "dateModified": "2019-12-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2019-12-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "AI, financial services, and the paradox of building trust", "datePublished": "2019-08-06T09:39:50+01:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": null, "description": "AI could help rebuild trust in financial services, but only if firms explain its customer value clearly and use it transparently rather than exploitatively.", "inLanguage": "en-GB", "articleBody": "AI creates a trust paradox in financial services. Customer-focused explanation and transparent use are essential if AI is to improve confidence in the sector.\n\nTrust is a big concept. It forges relationships and progresses ideas, and is pretty much the foundation upon which societies are built.\n\nOnce trust is lost, whether destroyed by one action or eroded over time, it can be a monumental struggle to regain. With artificial intelligence, that trust was not necessarily there to begin with. For as long as humans have imagined artificial beings capable of thought, they have also worried about the ethics and dangers attached to them.\n\nScience fiction, reality, and everything in between\n\nFor many people, AI still suggests dystopian futures, human extinction and robot overlords. This sits alongside everyday reliance on AI, from Netflix recommendations and email spam filters to Siri.\n\nScandals such as Facebook Cambridge Analytica reinforced public fears about data mining, influence and privacy. Any trust that had been building was damaged, and the conversation casting AI as a threat resumed.\n\nAI meets financial services\n\nFinancial services has its own trust issues. The financial crisis led to more than a decade of work to rebuild public trust after a major loss of faith. That effort has led to progress in responsibility, regulation and innovation, but there is still a long way to go.\n\nIn a speech delivered at The Alan Turing Institute\u2019s AI ethics in the financial sector conference, the FCA\u2019s Christopher Woolard considered the use of AI for consumer good. He examined the role artificial intelligence could play in the future of financial services and the FCA\u2019s part in that future.\n\ntechnology relies on public trust and a willingness to use it\n\nTechnology for good\n\nAI has the power to bring positive change to financial services. Technology such as Recordsure can support a future where automation makes good customer care an inherent part of the process. Elsewhere, AI is tackling financial crime in ways that were not possible before, while machine learning improves accessibility for customers interacting with their finances.\n\nGiven the chance, AI could be fundamental to restoring public faith in financial services, but only if it builds its own store of public trust. That depends not on AI itself, but on the humans who create and deploy it. Trust comes from a belief that best intentions are being acted on, and the key question is whether powerful AI tools are used consistently to add value for customers or to exploit them.\n\nSolving this paradox\n\nPopular uptake can indicate credibility and trust, but lack of wide adoption is typical of new innovation and can have the opposite effect. Customers respond best to new technology and processes when they are explained properly. That does not mean overloading them with terms and conditions, which Woolard points out can be off-putting, but being honest and transparent.\n\nFirms use technology tools for many reasons. When customers and their data are involved, firms need to articulate what the technology is doing and why it is in the customer\u2019s best interest. If there is no explanation of customer value, the firm should reconsider whether the technology should be used.\n\nRecordsure has seen a clear trend among end customers offered the service by their banks. In most instances, Recordsure was embraced. The small minority who rejected the technology correlated strongly with cases where the purpose or benefits had not been communicated.\n\nWhat this shows us\n\nWhen an interaction began with an open conversation explaining what the technology did, customers were on board. They understood that the technology was there to offer transparency, give confidence that they were receiving sound advice and make it possible to identify issues early.\n\nThe lesson is that deploying new technology must be customer-focused. For it to succeed, the benefits need to be articulated in a transparent, customer-centric and accessible way. As firms use more AI, they need to keep customers informed so trust can be built in both technology and financial services.", "wordCount": 662, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI trust" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA speech on the future regulation of AI for consumer good", "url": "https://www.fca.org.uk/news/speeches/future-regulation-ai-consumer-good" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "text": "Trust is a big concept. It forges relationships and progresses ideas, and is pretty much the foundation upon which societies are built.\n\nOnce trust is lost, whether destroyed by one action or eroded over time, it can be a monumental struggle to regain. With artificial intelligence, that trust was not necessarily there to begin with. For as long as humans have imagined artificial beings capable of thought, they have also worried about the ethics and dangers attached to them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "headline": "Science fiction, reality, and everything in between", "text": "For many people, AI still suggests dystopian futures, human extinction and robot overlords. This sits alongside everyday reliance on AI, from Netflix recommendations and email spam filters to Siri.\n\nScandals such as Facebook Cambridge Analytica reinforced public fears about data mining, influence and privacy. Any trust that had been building was damaged, and the conversation casting AI as a threat resumed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "headline": "AI meets financial services", "text": "Financial services has its own trust issues. The financial crisis led to more than a decade of work to rebuild public trust after a major loss of faith. That effort has led to progress in responsibility, regulation and innovation, but there is still a long way to go.\n\nIn a speech delivered at The Alan Turing Institute\u2019s AI ethics in the financial sector conference, the FCA\u2019s Christopher Woolard considered the use of AI for consumer good. He examined the role artificial intelligence could play in the future of financial services and the FCA\u2019s part in that future.\n\ntechnology relies on public trust and a willingness to use it" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "headline": "Technology for good", "text": "AI has the power to bring positive change to financial services. Technology such as Recordsure can support a future where automation makes good customer care an inherent part of the process. Elsewhere, AI is tackling financial crime in ways that were not possible before, while machine learning improves accessibility for customers interacting with their finances.\n\nGiven the chance, AI could be fundamental to restoring public faith in financial services, but only if it builds its own store of public trust. That depends not on AI itself, but on the humans who create and deploy it. Trust comes from a belief that best intentions are being acted on, and the key question is whether powerful AI tools are used consistently to add value for customers or to exploit them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "headline": "Solving this paradox", "text": "Popular uptake can indicate credibility and trust, but lack of wide adoption is typical of new innovation and can have the opposite effect. Customers respond best to new technology and processes when they are explained properly. That does not mean overloading them with terms and conditions, which Woolard points out can be off-putting, but being honest and transparent.\n\nFirms use technology tools for many reasons. When customers and their data are involved, firms need to articulate what the technology is doing and why it is in the customer\u2019s best interest. If there is no explanation of customer value, the firm should reconsider whether the technology should be used.\n\nRecordsure has seen a clear trend among end customers offered the service by their banks. In most instances, Recordsure was embraced. The small minority who rejected the technology correlated strongly with cases where the purpose or benefits had not been communicated." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "headline": "What this shows us", "text": "When an interaction began with an open conversation explaining what the technology did, customers were on board. They understood that the technology was there to offer transparency, give confidence that they were receiving sound advice and make it possible to identify issues early.\n\nThe lesson is that deploying new technology must be customer-focused. For it to succeed, the benefits need to be articulated in a transparent, customer-centric and accessible way. As firms use more AI, they need to keep customers informed so trust can be built in both technology and financial services." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-financial-services-and-the-paradox-of-building-trust/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What trust problem does AI face in financial services?", "acceptedAnswer": { "@type": "Answer", "text": "It says both AI and financial services face public trust challenges, and AI must build trust if it is to help restore confidence in the sector." } }, { "@type": "Question", "name": "What did the FCA speech highlight?", "acceptedAnswer": { "@type": "Answer", "text": "Technology relies on public trust and a willingness to use it." } }, { "@type": "Question", "name": "What helped customers accept Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Customers were more likely to accept the technology when its purpose and benefits were explained openly at the start of the interaction." } } ] } ] } ``` ### Recordsure named in Europe’s ‘Ones to Watch’ list for Innovation - URL: https://recordsure.com/insights/analysis-and-perspective/recordsure-named-in-europes-ones-to-watch-list-for-innovation/ - Published: 2019-07-24 - Modified: 2026-10-09 **Topic:** Innovation recognition Recordsure was named as ‘One to Watch’ for the Innovation Award in the European Business Awards’ business excellence list. #### Key points - Recordsure was named as ‘One to Watch’ for the Innovation Award. - The European Business Awards selected companies across 18 categories for achievement and programme values. - Founder Joanne Smith linked the recognition to RegTech’s potential in financial services outcomes. - The European Business Awards reviewed over 111,000 businesses from 34 countries the previous year. Recordsure has been named as ‘One to Watch’ for the Innovation Award in a list of business excellence published by the European Business Awards, one of world’s largest and longest running business competitions #### Why Recordsure was selected Recordsure was chosen as it demonstrates exceptional achievement in one of the 18 European Business Awards’ categories and reflects the programme’s core values of innovation, success and ethics Commenting on the accreditation, Recordsure Founder Joanne Smith stated: “I am thrilled that Recordsure has been recognised in the ‘Ones to Watch’ list We have always endeavoured to drive innovation, success and ethics not just internally but for our customers through the AI tools we build To represent the UK for Innovation in the European Business Awards is a real honour and testament to the huge potential that RegTech solutions have in improving performance, culture and customer outcomes throughout the financial services sector” Adrian Tripp, CEO of the European Business Awards, said: “The companies chosen as ‘Ones to Watch’ are the most inspirational, successful and dynamic in Europe” He continued: “The talent and tenacity at the heart of these businesses creates jobs and drives Europe’s prosperity This ‘Ones to Watch’ list of excellence is a benchmark of success for the rest of the European business community” Companies on the ‘Ones to Watch’ list come from all sectors; from manufacturing to retail, agriculture to technology, and all sizes; from start-ups to billion euro businesses The European Business Awards is now in its 12th year Last year it considered over 111,000 businesses from 34 countries Sponsors and partners include Inflexion, Germany Trade & Invest and PR Newswire More information and the full ‘Ones to Watch’ list can be found at #### European Business Awards context wwwbusinessawardseuropecom #### Supporting sources - [European Business Awards](http://www.businessawardseurope.com) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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success and ethics not just internally but for our customers through the AI tools we build To represent the UK for Innovation in the European Business Awards is a real honour and testament to the huge potential that RegTech solutions have in improving performance, culture and customer outcomes throughout the financial services sector\u201d Adrian Tripp, CEO of the European Business Awards, said: \u201cThe companies chosen as \u2018Ones to Watch\u2019 are the most inspirational, successful and dynamic in Europe\u201d He continued: \u201cThe talent and tenacity at the heart of these businesses creates jobs and drives Europe\u2019s prosperity This \u2018Ones to Watch\u2019 list of excellence is a benchmark of success for the rest of the European business community\u201d Companies on the \u2018Ones to Watch\u2019 list come from all sectors; from manufacturing to retail, agriculture to technology, and all sizes; from start-ups to billion euro businesses The European Business Awards is now 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potential that RegTech solutions have in improving performance, culture and customer outcomes throughout the financial services sector\u201d Adrian Tripp, CEO of the European Business Awards, said: \u201cThe companies chosen as \u2018Ones to Watch\u2019 are the most inspirational, successful and dynamic in Europe\u201d He continued: \u201cThe talent and tenacity at the heart of these businesses creates jobs and drives Europe\u2019s prosperity This \u2018Ones to Watch\u2019 list of excellence is a benchmark of success for the rest of the European business community\u201d Companies on the \u2018Ones to Watch\u2019 list come from all sectors; from manufacturing to retail, agriculture to technology, and all sizes; from start-ups to billion euro businesses The European Business Awards is now in its 12th year Last year it considered over 111,000 businesses from 34 countries Sponsors and partners include Inflexion, Germany Trade & Invest and PR Newswire More information and the full \u2018Ones to Watch\u2019 list can be found at" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-named-in-europes-ones-to-watch-list-for-innovation/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-named-in-europes-ones-to-watch-list-for-innovation/#webpage" }, "inLanguage": "en-GB", "headline": "European Business Awards context", "text": "wwwbusinessawardseuropecom" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-named-in-europes-ones-to-watch-list-for-innovation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-named-in-europes-ones-to-watch-list-for-innovation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What recognition did Recordsure receive?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was named as 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logic has expired. Financial services firms can apply the same challenge to manual compliance sampling. #### Key points - Watch advertising conventions influenced why phones often show times around 10:08 to 10:10. - The original analogue-clock logic does not carry over neatly to digital displays. - Large firms can keep inherited practices because no one has questioned them. - Manual compliance sampling can leave most customer interaction risk unseen. - Firms should build a culture that asks why processes are still being used. **Next time you walk past a phone shop, take a look through the window at some of the posters on display. Odds are that the phones in the advertisements will have their clocks set to somewhere between 10:08 and 10:10.** Why? There’s actually more to this one than meets the eye, and some important lessons to take on board in financial services as well as other industries. #### Turning the clock back To understand the science behind this, we need to take a look back at watches and how their advertising has evolved over the last 100 years. Discounting the conspiracy theories (of which there are a surprising number), watchmakers picked the time to display in shops and adverts based on several principles. Symmetry naturally appeals to the human eye, and so a time when the hands mirrored each other made watch faces seem less cluttered. Watchmakers also wanted to avoid hiding their logos behind the hands, and they needed to find a setting which looked good from as many angles as possible. This is why if you walked around a watch or clock shop in the 1920s, you would see most of the times set to 8:20. It was symmetrical, looked uncluttered and it left the manufacturer’s logo clearly on display. #### The times they are a changin’ So why the shift from 8:20 to 10:08 as is now the tradition? The answer to this could lie in [pareidolia](https://www.bbc.co.uk/news/magazine-22686500): the quirk of the human mind which means we sometimes see faces in inanimate objects. Sellers thought that the position of the hands at 8:20 resembled a sad face, so started experimenting with 10:08, which looks more like a smile. Allegedly, shop owners found that items set to the ‘happier’ 10:08 sold better than the ones set to 8:20, and this gradually became the industry standard. Going back to our phone shop window, Apple smartwatches have historically been set to 10.09 and other providers like HTC tend to go with the more common 10.08 in line with the status quo and you will also see a lot of 10.10s. Do they sell more phones as a result? Probably not. #### Adapting with change There have of course been some major changes in technology since the 1920s, not least the shift from analogue to digital. This is significant in this case because whilst 10:08 might loosely resemble a smiley face from the hands on an analogue clock, the same cannot be said for a digital display. It isn’t doing any harm, and you do need to pick some time to show, but the traditional thinking behind this is now obsolete in this new channel. So why do phone companies (and let’s face it, big companies) still persist with this legacy theory? The answer could simply be that they never questioned it and just stuck to the familiar without really contemplating it. Even huge organisations rightly renowned for their innovative products can be guilty of doing things the way they have always done them, particularly when there is no pressing need to take a step back and think about how you could do things differently. #### Lessons for financial services There are parallels here within financial services. Many processes have been followed a similar way for a long time because there haven’t really been any alternatives, and so no imminent need to try and do things differently. For instance, firms need to monitor their customer conversations for compliance and customer care purposes, which is done manually. This is such a time consuming task that most organisations will only be able to review around 1–5% of cases and randomly sample them in the hope that any systemic issues will be unearthed. This has become ingrained as the status quo. People now accept it as standard without even thinking about it, but when you do take a step back and consider things holistically, the traditional methodology becomes jaw-dropping. With smartphones, no one is really affected by a superfluous theory that somehow still persists. But in the case of financial services firms, random sampling like this means there is a black hole covering 95% of the risk landscape and vulnerable customers have at best a 1 in 20 chance of being found. With advances in RegTech solutions though, there are now alternatives to the traditional manual system. With the case above for instance, Recordsure empowers firms to review all their customer touch points at scale through bespoke AI analytics technology and teams towards the cases most in need of follow up action. Whilst there are a growing number of organisations (and regulators) hungry to innovate and explore new ways of doing things, there will naturally be others more inclined to wait until they pushed. #### Shifting the status quo Outdated legacy processes are almost certainly not unique, either within financial services or wider industries. There will always be times where an incumbent traditional process can be replaced by a more modern and capable solution. When the traditional process becomes the status quo though and used without questioning, it’s all too easy to forget that there is a problem in the first place. Business leaders can be split between the early adopters and the followers. For some, they will always be reactive and driven by external events forcing them to change the way they operate. For those who are eager to adapt, improve and innovate though, the first challenge is simply to learn from these phone companies. Rather than blindly doing things the way they have always been done because that is the way they have always been done, create a culture which pushes everyone to take a step back and ask ‘why’ at every opportunity. Being disciplined here will be a constant challenge, but the results don’t just offer commercial value: in the case of financial services it can mean fundamentally improving customer outcomes. #### Supporting sources - [BBC article on pareidolia](https://www.bbc.co.uk/news/magazine-22686500) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Financial services firms can apply the same challenge to manual compliance sampling.\n\nNext time you walk past a phone shop, take a look through the window at some of the posters on display. Odds are that the phones in the advertisements will have their clocks set to somewhere between 10:08 and 10:10.\n\nWhy? There\u2019s actually more to this one than meets the eye, and some important lessons to take on board in financial services as well as other industries.\n\nTurning the clock back\n\nTo understand the science behind this, we need to take a look back at watches and how their advertising has evolved over the last 100 years. Discounting the conspiracy theories (of which there are a surprising number), watchmakers picked the time to display in shops and adverts based on several principles.\n\nSymmetry naturally appeals to the human eye, and so a time when the hands mirrored each other made watch faces seem less cluttered. Watchmakers also wanted to avoid hiding their logos behind the hands, and they needed to find a setting which looked good from as many angles as possible. This is why if you walked around a watch or clock shop in the 1920s, you would see most of the times set to 8:20. It was symmetrical, looked uncluttered and it left the manufacturer\u2019s logo clearly on display.\n\nThe times they are a changin\u2019\n\nSo why the shift from 8:20 to 10:08 as is now the tradition? The answer to this could lie in pareidolia: the quirk of the human mind which means we sometimes see faces in inanimate objects. Sellers thought that the position of the hands at 8:20 resembled a sad face, so started experimenting with 10:08, which looks more like a smile.\n\nAllegedly, shop owners found that items set to the \u2018happier\u2019 10:08 sold better than the ones set to 8:20, and this gradually became the industry standard. Going back to our phone shop window, Apple smartwatches have historically been set to 10.09 and other providers like HTC tend to go with the more common 10.08 in line with the status quo and you will also see a lot of 10.10s. Do they sell more phones as a result? Probably not.\n\nAdapting with change\n\nThere have of course been some major changes in technology since the 1920s, not least the shift from analogue to digital. This is significant in this case because whilst 10:08 might loosely resemble a smiley face from the hands on an analogue clock, the same cannot be said for a digital display. It isn\u2019t doing any harm, and you do need to pick some time to show, but the traditional thinking behind this is now obsolete in this new channel.\n\nSo why do phone companies (and let\u2019s face it, big companies) still persist with this legacy theory? The answer could simply be that they never questioned it and just stuck to the familiar without really contemplating it. Even huge organisations rightly renowned for their innovative products can be guilty of doing things the way they have always done them, particularly when there is no pressing need to take a step back and think about how you could do things differently.\n\nLessons for financial services\n\nThere are parallels here within financial services. Many processes have been followed a similar way for a long time because there haven\u2019t really been any alternatives, and so no imminent need to try and do things differently. For instance, firms need to monitor their customer conversations for compliance and customer care purposes, which is done manually. This is such a time consuming task that most organisations will only be able to review around 1\u20135% of cases and randomly sample them in the hope that any systemic issues will be unearthed.\n\nThis has become ingrained as the status quo. People now accept it as standard without even thinking about it, but when you do take a step back and consider things holistically, the traditional methodology becomes jaw-dropping. With smartphones, no one is really affected by a superfluous theory that somehow still persists. But in the case of financial services firms, random sampling like this means there is a black hole covering 95% of the risk landscape and vulnerable customers have at best a 1 in 20 chance of being found.\n\nWith advances in RegTech solutions though, there are now alternatives to the traditional manual system. With the case above for instance, Recordsure empowers firms to review all their customer touch points at scale through bespoke AI analytics technology and teams towards the cases most in need of follow up action. Whilst there are a growing number of organisations (and regulators) hungry to innovate and explore new ways of doing things, there will naturally be others more inclined to wait until they pushed.\n\nShifting the status quo\n\nOutdated legacy processes are almost certainly not unique, either within financial services or wider industries. There will always be times where an incumbent traditional process can be replaced by a more modern and capable solution. When the traditional process becomes the status quo though and used without questioning, it\u2019s all too easy to forget that there is a problem in the first place.\n\nBusiness leaders can be split between the early adopters and the followers. For some, they will always be reactive and driven by external events forcing them to change the way they operate. For those who are eager to adapt, improve and innovate though, the first challenge is simply to learn from these phone companies. Rather than blindly doing things the way they have always been done because that is the way they have always been done, create a culture which pushes everyone to take a step back and ask \u2018why\u2019 at every opportunity. Being disciplined here will be a constant challenge, but the results don\u2019t just offer commercial value: in the case of financial services it can mean fundamentally improving customer outcomes.", "wordCount": 1003, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-6" } ], "about": [ { "@type": "Thing", "name": "Legacy process challenge" } ], "citation": [ { "@type": "CreativeWork", "name": "BBC article on pareidolia", "url": "https://www.bbc.co.uk/news/magazine-22686500" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "Next time you walk past a phone shop, take a look through the window at some of the posters on display. Odds are that the phones in the advertisements will have their clocks set to somewhere between 10:08 and 10:10.\n\nWhy? There\u2019s actually more to this one than meets the eye, and some important lessons to take on board in financial services as well as other industries." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Turning the clock back", "text": "To understand the science behind this, we need to take a look back at watches and how their advertising has evolved over the last 100 years. Discounting the conspiracy theories (of which there are a surprising number), watchmakers picked the time to display in shops and adverts based on several principles.\n\nSymmetry naturally appeals to the human eye, and so a time when the hands mirrored each other made watch faces seem less cluttered. Watchmakers also wanted to avoid hiding their logos behind the hands, and they needed to find a setting which looked good from as many angles as possible. This is why if you walked around a watch or clock shop in the 1920s, you would see most of the times set to 8:20. It was symmetrical, looked uncluttered and it left the manufacturer\u2019s logo clearly on display." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "The times they are a changin\u2019", "text": "So why the shift from 8:20 to 10:08 as is now the tradition? The answer to this could lie in pareidolia: the quirk of the human mind which means we sometimes see faces in inanimate objects. Sellers thought that the position of the hands at 8:20 resembled a sad face, so started experimenting with 10:08, which looks more like a smile.\n\nAllegedly, shop owners found that items set to the \u2018happier\u2019 10:08 sold better than the ones set to 8:20, and this gradually became the industry standard. Going back to our phone shop window, Apple smartwatches have historically been set to 10.09 and other providers like HTC tend to go with the more common 10.08 in line with the status quo and you will also see a lot of 10.10s. Do they sell more phones as a result? Probably not." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Adapting with change", "text": "There have of course been some major changes in technology since the 1920s, not least the shift from analogue to digital. This is significant in this case because whilst 10:08 might loosely resemble a smiley face from the hands on an analogue clock, the same cannot be said for a digital display. It isn\u2019t doing any harm, and you do need to pick some time to show, but the traditional thinking behind this is now obsolete in this new channel.\n\nSo why do phone companies (and let\u2019s face it, big companies) still persist with this legacy theory? The answer could simply be that they never questioned it and just stuck to the familiar without really contemplating it. Even huge organisations rightly renowned for their innovative products can be guilty of doing things the way they have always done them, particularly when there is no pressing need to take a step back and think about how you could do things differently." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Lessons for financial services", "text": "There are parallels here within financial services. Many processes have been followed a similar way for a long time because there haven\u2019t really been any alternatives, and so no imminent need to try and do things differently. For instance, firms need to monitor their customer conversations for compliance and customer care purposes, which is done manually. This is such a time consuming task that most organisations will only be able to review around 1\u20135% of cases and randomly sample them in the hope that any systemic issues will be unearthed.\n\nThis has become ingrained as the status quo. People now accept it as standard without even thinking about it, but when you do take a step back and consider things holistically, the traditional methodology becomes jaw-dropping. With smartphones, no one is really affected by a superfluous theory that somehow still persists. But in the case of financial services firms, random sampling like this means there is a black hole covering 95% of the risk landscape and vulnerable customers have at best a 1 in 20 chance of being found.\n\nWith advances in RegTech solutions though, there are now alternatives to the traditional manual system. With the case above for instance, Recordsure empowers firms to review all their customer touch points at scale through bespoke AI analytics technology and teams towards the cases most in need of follow up action. Whilst there are a growing number of organisations (and regulators) hungry to innovate and explore new ways of doing things, there will naturally be others more inclined to wait until they pushed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Shifting the status quo", "text": "Outdated legacy processes are almost certainly not unique, either within financial services or wider industries. There will always be times where an incumbent traditional process can be replaced by a more modern and capable solution. When the traditional process becomes the status quo though and used without questioning, it\u2019s all too easy to forget that there is a problem in the first place.\n\nBusiness leaders can be split between the early adopters and the followers. For some, they will always be reactive and driven by external events forcing them to change the way they operate. For those who are eager to adapt, improve and innovate though, the first challenge is simply to learn from these phone companies. Rather than blindly doing things the way they have always been done because that is the way they have always been done, create a culture which pushes everyone to take a step back and ask \u2018why\u2019 at every opportunity. Being disciplined here will be a constant challenge, but the results don\u2019t just offer commercial value: in the case of financial services it can mean fundamentally improving customer outcomes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/what-can-smartphones-teach-us-about-compliance-and-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does 10:08 matter?", "acceptedAnswer": { "@type": "Answer", "text": "Watches and phone adverts often use times around 10:08 because of older visual conventions linked to symmetry and a smile-like appearance." } }, { "@type": "Question", "name": "What is the compliance lesson?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should question inherited processes rather than accept them as standard because they are familiar." } }, { "@type": "Question", "name": "What financial services example shows the risk?", "acceptedAnswer": { "@type": "Answer", "text": "Manual monitoring of customer conversations can leave firms reviewing only around 1\u20135% of cases." } } ] } ] } ``` ### Will technology end up protecting or victimising vulnerable customers? - URL: https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/ - Published: 2019-07-10 - Modified: 2026-10-09 **Topic:** Vulnerable customers Digitisation can disadvantage customers who rely on physical access, but RegTech can also help firms identify vulnerability and target support more effectively. #### Key points - Digital banking gives some customers better oversight while leaving others with fewer services they rely on. - Branch closures particularly affect customers without internet access, older customers and some disabled or rural customers. - Technology can help firms identify customers most likely to be vulnerable and target support where it is needed. There are two sides to every story, and the digitisation of financial services sector is no exception. As reliance on technology increases, we are seeing some demographics gain an improved support network while others are seeing the services they rely on gradually eroding away. Digital banking is reshaping the way customers run their finances. Challenger banks like Monzo are gaining momentum, their popularity driven by innovative features like automatically categorising a customer’s spend. Users can see a total picture of how and when they’re spending their money, what they’re buying and whether they’re keeping to budget. Tools like this are giving people the power to handle their finances with more oversight and making money management more accessible. But the use, and therefore the benefits, of these digital options are often limited to certain demographics. In the case of Monzo their user base is dominated by digitally savvy ‘millennials’ and under 35s. #### Out with the old But elsewhere there is fallout from this digital revolution. Brick and mortar bank branches are closing at a rapid rate. Which? recently calculated that in the three years between 2015 and 2018, nearly 2900 branches had been closed in the UK alone. The UK is at the forefront of this change, but it’s an international trend. The underlying drivers are common across other sectors, not just banking. More services are available online or over the phone, fewer people are walking into banks when there are more convenient options, and from a business perspective, there are far cheaper ways to provide a high level of customer service. This shift in the market makes sense, and it works for many customers. But certain demographics are in greater need of the services provided by a physical branch of their bank. Customers without internet access are instantly disadvantaged when stores and bank branches close. Elderly customers are disproportionately impacted compared to other age groups, as are those with certain disabilities and accessibility needs. In rural areas – often the first to experience closures – the issues are compounded by other factors that isolate these communities. #### A question of balance The FCA definition of vulnerability is deliberately broad. It’s designed to cover, among other things, different disabilities, education levels and effects caused by major life events. As banking becomes increasingly digitised, banks and financial services organisations need be more mindful than ever of those at risk of getting left behind. Speaking at Bloomberg , FCA Chief Executive Andrew Bailey highlighted this in light of industry rules and duty of care: “There are two important and at times competing principles at work here: physical access to key banking services, and innovation which improves the overall provision and quality of services. The question is how to strike a sensible balance.” #### No one left behind Technology is ultimately facilitating this move away from physical access, but crucially it’s also technology and RegTech innovations that are finding solutions to the challenges this creates. There are a growing number of platforms designed to improve customer care. In the case of Recordsure, our focus is on tools that identify the customers most likely to be considered vulnerable, allowing firms to intelligently target support to those most in need. Advancements in AI are empowering banks and regulated firms to gain an understanding of the needs of their customers in a way the world has never seen before. This completely transforms the way they are able to deliver customer care. With the digitisation of services only growing in momentum, there is an irony that whilst technology risks increasing the number of vulnerable customers, it also provides the means to halt this alienation and support those most in need of care. #### Supporting sources - [BBC report on bank branch closures](https://www.bbc.co.uk/news/business-44483304) - [FCA occasional paper on vulnerability](https://www.fca.org.uk/publication/occasional-papers/occasional-paper-8-exec-summary.pdf) - [FCA speech on the future of financial conduct regulation](https://www.fca.org.uk/news/speeches/future-financial-conduct-regulation) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Will technology end up protecting or victimising vulnerable customers?", "item": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/", "name": "Will technology end up protecting or victimising vulnerable customers?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-07-10T13:18:34+01:00", "dateModified": "2021-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Will technology end up protecting or victimising vulnerable customers?", "datePublished": "2019-07-10T13:18:34+01:00", "dateModified": "2026-10-09T04:50:25+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b2556571a61f4fb38a974f2de4a01b1f/thumbnail-1024-30c5e0342fe53ec9ab769471297b9060fb56ef02eb2c8d75af0965530ca22b9c.jpg", "description": "Digital banking can improve access for some customers while excluding others, making technology both a source of vulnerability and a way to target support.", "inLanguage": "en-GB", "articleBody": "Digitisation can disadvantage customers who rely on physical access, but RegTech can also help firms identify vulnerability and target support more effectively.\n\nThere are two sides to every story, and the digitisation of financial services sector is no exception. As reliance on technology increases, we are seeing some demographics gain an improved support network while others are seeing the services they rely on gradually eroding away.\n\nDigital banking is reshaping the way customers run their finances. Challenger banks like Monzo are gaining momentum, their popularity driven by innovative features like automatically categorising a customer\u2019s spend. Users can see a total picture of how and when they\u2019re spending their money, what they\u2019re buying and whether they\u2019re keeping to budget. Tools like this are giving people the power to handle their finances with more oversight and making money management more accessible. But the use, and therefore the benefits, of these digital options are often limited to certain demographics. In the case of Monzo their user base is dominated by digitally savvy \u2018millennials\u2019 and under 35s.\n\nOut with the old\n\nBut elsewhere there is fallout from this digital revolution. Brick and mortar bank branches are closing at a rapid rate. Which? recently calculated that in the three years between 2015 and 2018,\n\nnearly 2900 branches had been closed\n\nin the UK alone. The UK is at the forefront of this change, but it\u2019s an international trend. The underlying drivers are common across other sectors, not just banking. More services are available online or over the phone, fewer people are walking into banks when there are more convenient options, and from a business perspective, there are far cheaper ways to provide a high level of customer service. This shift in the market makes sense, and it works for many customers. But certain demographics are in greater need of the services provided by a physical branch of their bank. Customers without internet access are instantly disadvantaged when stores and bank branches close. Elderly customers are disproportionately impacted compared to other age groups, as are those with certain disabilities and accessibility needs. In rural areas \u2013 often the first to experience closures \u2013 the issues are compounded by other factors that isolate these communities.\n\nA question of balance\n\nThe\n\nFCA definition of vulnerability\n\nis deliberately broad. It\u2019s designed to cover, among other things, different disabilities, education levels and effects caused by major life events. As banking becomes increasingly digitised, banks and financial services organisations need be more mindful than ever of those at risk of getting left behind. Speaking at\n\nBloomberg\n\n, FCA Chief Executive Andrew Bailey highlighted this in light of industry rules and duty of care: \u201cThere are two important and at times competing principles at work here: physical access to key banking services, and innovation which improves the overall provision and quality of services. The question is how to strike a sensible balance.\u201d\n\nNo one left behind\n\nTechnology is ultimately facilitating this move away from physical access, but crucially it\u2019s also technology and RegTech innovations that are finding solutions to the challenges this creates. There are a growing number of platforms designed to improve customer care. In the case of Recordsure, our focus is on tools that identify the customers most likely to be considered vulnerable, allowing firms to intelligently target support to those most in need. Advancements in AI are empowering banks and regulated firms to gain an understanding of the needs of their customers in a way the world has never seen before. This completely transforms the way they are able to deliver customer care. With the digitisation of services only growing in momentum, there is an irony that whilst technology risks increasing the number of vulnerable customers, it also provides the means to halt this alienation and support those most in need of care.", "wordCount": 634, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Vulnerable customers" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "BBC report on bank branch closures", "url": "https://www.bbc.co.uk/news/business-44483304" }, { "@type": "CreativeWork", "name": "FCA occasional paper on vulnerability", "url": "https://www.fca.org.uk/publication/occasional-papers/occasional-paper-8-exec-summary.pdf" }, { "@type": "CreativeWork", "name": "FCA speech on the future of financial conduct regulation", "url": "https://www.fca.org.uk/news/speeches/future-financial-conduct-regulation" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "text": "There are two sides to every story, and the digitisation of financial services sector is no exception. As reliance on technology increases, we are seeing some demographics gain an improved support network while others are seeing the services they rely on gradually eroding away.\n\nDigital banking is reshaping the way customers run their finances. Challenger banks like Monzo are gaining momentum, their popularity driven by innovative features like automatically categorising a customer\u2019s spend. Users can see a total picture of how and when they\u2019re spending their money, what they\u2019re buying and whether they\u2019re keeping to budget. Tools like this are giving people the power to handle their finances with more oversight and making money management more accessible. But the use, and therefore the benefits, of these digital options are often limited to certain demographics. In the case of Monzo their user base is dominated by digitally savvy \u2018millennials\u2019 and under 35s." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Out with the old", "text": "But elsewhere there is fallout from this digital revolution. Brick and mortar bank branches are closing at a rapid rate. Which? recently calculated that in the three years between 2015 and 2018,\n\nnearly 2900 branches had been closed\n\nin the UK alone. The UK is at the forefront of this change, but it\u2019s an international trend. The underlying drivers are common across other sectors, not just banking. More services are available online or over the phone, fewer people are walking into banks when there are more convenient options, and from a business perspective, there are far cheaper ways to provide a high level of customer service. This shift in the market makes sense, and it works for many customers. But certain demographics are in greater need of the services provided by a physical branch of their bank. Customers without internet access are instantly disadvantaged when stores and bank branches close. Elderly customers are disproportionately impacted compared to other age groups, as are those with certain disabilities and accessibility needs. In rural areas \u2013 often the first to experience closures \u2013 the issues are compounded by other factors that isolate these communities." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "A question of balance", "text": "The\n\nFCA definition of vulnerability\n\nis deliberately broad. It\u2019s designed to cover, among other things, different disabilities, education levels and effects caused by major life events. As banking becomes increasingly digitised, banks and financial services organisations need be more mindful than ever of those at risk of getting left behind. Speaking at\n\nBloomberg\n\n, FCA Chief Executive Andrew Bailey highlighted this in light of industry rules and duty of care: \u201cThere are two important and at times competing principles at work here: physical access to key banking services, and innovation which improves the overall provision and quality of services. The question is how to strike a sensible balance.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "No one left behind", "text": "Technology is ultimately facilitating this move away from physical access, but crucially it\u2019s also technology and RegTech innovations that are finding solutions to the challenges this creates. There are a growing number of platforms designed to improve customer care. In the case of Recordsure, our focus is on tools that identify the customers most likely to be considered vulnerable, allowing firms to intelligently target support to those most in need. Advancements in AI are empowering banks and regulated firms to gain an understanding of the needs of their customers in a way the world has never seen before. This completely transforms the way they are able to deliver customer care. With the digitisation of services only growing in momentum, there is an irony that whilst technology risks increasing the number of vulnerable customers, it also provides the means to halt this alienation and support those most in need of care." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-technology-end-up-protecting-or-victimising-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How can digitisation disadvantage vulnerable customers?", "acceptedAnswer": { "@type": "Answer", "text": "Customers without internet access, older customers, some disabled customers and rural communities can lose access when branches and physical services close." } }, { "@type": "Question", "name": "Why is vulnerability broad in this context?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA definition covers different disabilities, education levels and effects caused by major life events." } }, { "@type": "Question", "name": "How can technology help?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech tools can identify customers most likely to be vulnerable and help firms target support to those most in need." } } ] } ] } ``` ### Will changes in tech drive changes in regulations? - URL: https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/ - Published: 2019-06-18 - Modified: 2026-10-09 **Topic:** RegTech regulation As RegTech becomes more capable and more widely adopted, regulators may increasingly expect firms to use technology that improves compliance and customer outcomes. #### Key points - Historic scandals and regulatory scrutiny have increased demand for transparency and better customer outcomes. - Early adopters use RegTech to improve compliance capability and create business value. - As tools become proven, regulatory expectations may shift from innovation towards expected practice. They say that necessity is the mother of invention. The financial services sector is a perfect illustration of this in action. Historic scandals and modern regulatory scrutiny have created a new drive for transparency in an industry desperate to regain trust amongst its customers. This is an international trend. Markets like the UK are still feeling ripples from the 2008 financial crisis, whilst in Australia the impact of the Royal Commission into banking is still in full swing. The demand to improve performance, culture and customer outcomes is higher than ever. With legacy compliance systems typically overly reliant on manual processes, this has fuelled a wave of technological innovations geared at changing the status quo amidst an industry-wide consensus that throwing more bodies at the problems won’t make them go away. In the space of just a few years, RegTech has grown from a niche offshoot of FinTech to something that could dwarf the FinTech space. #### Early adoption We are already seeing a growing number of firms turning to new technological solutions to supplement their existing capabilities. The majority of these firms are arguably the innovators and the organisations most determined to embrace fresh thinking to get ahead of the curve. With RegTech solutions enabling compliance teams to adjust their cost-to-income ratio, savvier firms are beginning to realise that improving compliance is not purely about dealing with regulatory requirements: it now has the potential to deliver value to other areas of the business and more importantly, end customers. At this point in time though, it is the first movers who are taking advantage of the new capabilities RegTech has on offer, with other firms either unaware of the scope of these new innovations or watching from the sidelines as they become more mainstream. #### Regulator interest It isn’t just regulated organisations that are playing close attention though: regulators are also eager to become a central part of the RegTech revolution. RegTech has the potential to reduce the costs of compliance, speed up processes and improve customer outcomes exponentially. The UK’s FCA has gained international plaudits for its forward thinking approach to technology, hosting multiple TechSprints, regulatory sandboxes and working closely with RegTech providers to nurture solutions which will have a positive impact in the market. With other national regulators taking note, regulators such as ASIC in Australia are also working closely with the RegTech community. There is a growing rallying call from regulators that as new tools become available, they will increasingly be asking organisations why they aren’t using them. #### Shifting benchmarks It stands to reason that firms should go to all reasonable lengths to support their customers. As new tools start increasing the span of what can practically be achieved, it also stands to reason that the regulations themselves will also start to shift in line with these new capabilities. For example, in the case of Recordsure, we’re using AI to enable firms to review 100% of their customer conversations to boost customer care, compliance and risk management. Traditionally, this is a manual process that can only cover 5% of the landscape forcing firms to randomly sample and meaning the vast majority of customers are not adequately safeguarded. With solutions like this which can exponentially improve customer outcomes, benchmarks and regulatory expectations are almost inevitably going to shift. #### Time for change Two common blockers to the adoption of new technologies are a lack of general awareness on the art of the possible and caution that the promised solution turns out to be a false dawn. As early adopters demonstrate the benefits of these solutions in the field then the arguments against using them become weakened. Meanwhile, legislation such as SM&CR could set a precedent that decision makers are expected to proactively research technological capabilities. As new RegTech solutions become staple in the market, it seems likely that regulations will gear up to keep pace. Whilst use of AI and related technologies is predominantly limited to those keen to take advantage of the benefits of operational efficiencies, increased output and improved customer outcomes, adoption will naturally spread over time, and in all likelihood gradually become mandatory from a regulatory standpoint. We will reach the stage where using key RegTech tools becomes expectation rather than innovation. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The financial services sector is a perfect illustration of this in action. Historic scandals and modern regulatory scrutiny have created a new drive for transparency in an industry desperate to regain trust amongst its customers.\n\nThis is an international trend. Markets like the UK are still feeling ripples from the 2008 financial crisis, whilst in Australia the impact of the Royal Commission into banking is still in full swing. The demand to improve performance, culture and customer outcomes is higher than ever. With legacy compliance systems typically overly reliant on manual processes, this has fuelled a wave of technological innovations geared at changing the status quo amidst an industry-wide consensus that throwing more bodies at the problems won\u2019t make them go away. In the space of just a few years, RegTech has grown from a niche offshoot of FinTech to something that could dwarf the FinTech space.\n\nEarly adoption\n\nWe are already seeing a growing number of firms turning to new technological solutions to supplement their existing capabilities. The majority of these firms are arguably the innovators and the organisations most determined to embrace fresh thinking to get ahead of the curve. With RegTech solutions enabling compliance teams to adjust their cost-to-income ratio, savvier firms are beginning to realise that improving compliance is not purely about dealing with regulatory requirements: it now has the potential to deliver value to other areas of the business and more importantly, end customers. At this point in time though, it is the first movers who are taking advantage of the new capabilities RegTech has on offer, with other firms either unaware of the scope of these new innovations or watching from the sidelines as they become more mainstream.\n\nRegulator interest\n\nIt isn\u2019t just regulated organisations that are playing close attention though: regulators are also eager to become a central part of the RegTech revolution. RegTech has the potential to reduce the costs of compliance, speed up processes and improve customer outcomes exponentially. The UK\u2019s FCA has gained international plaudits for its forward thinking approach to technology, hosting multiple TechSprints, regulatory sandboxes and working closely with RegTech providers to nurture solutions which will have a positive impact in the market. With other national regulators taking note, regulators such as ASIC in Australia are also working closely with the RegTech community. There is a growing rallying call from regulators that as new tools become available, they will increasingly be asking organisations why they aren\u2019t using them.\n\nShifting benchmarks\n\nIt stands to reason that firms should go to all reasonable lengths to support their customers. As new tools start increasing the span of what can practically be achieved, it also stands to reason that the regulations themselves will also start to shift in line with these new capabilities. For example, in the case of Recordsure, we\u2019re using AI to enable firms to review 100% of their customer conversations to boost customer care, compliance and risk management. Traditionally, this is a manual process that can only cover 5% of the landscape forcing firms to randomly sample and meaning the vast majority of customers are not adequately safeguarded. With solutions like this which can exponentially improve customer outcomes, benchmarks and regulatory expectations are almost inevitably going to shift.\n\nTime for change\n\nTwo common blockers to the adoption of new technologies are a lack of general awareness on the art of the possible and caution that the promised solution turns out to be a false dawn. As early adopters demonstrate the benefits of these solutions in the field then the arguments against using them become weakened. Meanwhile, legislation such as SM&CR could set a precedent that decision makers are expected to proactively research technological capabilities. As new RegTech solutions become staple in the market, it seems likely that regulations will gear up to keep pace. Whilst use of AI and related technologies is predominantly limited to those keen to take advantage of the benefits of operational efficiencies, increased output and improved customer outcomes, adoption will naturally spread over time, and in all likelihood gradually become mandatory from a regulatory standpoint. We will reach the stage where using key RegTech tools becomes expectation rather than innovation.", "wordCount": 727, "keywords": [ "Banking", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "RegTech regulation" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "text": "They say that necessity is the mother of invention. The financial services sector is a perfect illustration of this in action. Historic scandals and modern regulatory scrutiny have created a new drive for transparency in an industry desperate to regain trust amongst its customers.\n\nThis is an international trend. Markets like the UK are still feeling ripples from the 2008 financial crisis, whilst in Australia the impact of the Royal Commission into banking is still in full swing. The demand to improve performance, culture and customer outcomes is higher than ever. With legacy compliance systems typically overly reliant on manual processes, this has fuelled a wave of technological innovations geared at changing the status quo amidst an industry-wide consensus that throwing more bodies at the problems won\u2019t make them go away. In the space of just a few years, RegTech has grown from a niche offshoot of FinTech to something that could dwarf the FinTech space." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "headline": "Early adoption", "text": "We are already seeing a growing number of firms turning to new technological solutions to supplement their existing capabilities. The majority of these firms are arguably the innovators and the organisations most determined to embrace fresh thinking to get ahead of the curve. With RegTech solutions enabling compliance teams to adjust their cost-to-income ratio, savvier firms are beginning to realise that improving compliance is not purely about dealing with regulatory requirements: it now has the potential to deliver value to other areas of the business and more importantly, end customers. At this point in time though, it is the first movers who are taking advantage of the new capabilities RegTech has on offer, with other firms either unaware of the scope of these new innovations or watching from the sidelines as they become more mainstream." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "headline": "Regulator interest", "text": "It isn\u2019t just regulated organisations that are playing close attention though: regulators are also eager to become a central part of the RegTech revolution. RegTech has the potential to reduce the costs of compliance, speed up processes and improve customer outcomes exponentially. The UK\u2019s FCA has gained international plaudits for its forward thinking approach to technology, hosting multiple TechSprints, regulatory sandboxes and working closely with RegTech providers to nurture solutions which will have a positive impact in the market. With other national regulators taking note, regulators such as ASIC in Australia are also working closely with the RegTech community. There is a growing rallying call from regulators that as new tools become available, they will increasingly be asking organisations why they aren\u2019t using them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "headline": "Shifting benchmarks", "text": "It stands to reason that firms should go to all reasonable lengths to support their customers. As new tools start increasing the span of what can practically be achieved, it also stands to reason that the regulations themselves will also start to shift in line with these new capabilities. For example, in the case of Recordsure, we\u2019re using AI to enable firms to review 100% of their customer conversations to boost customer care, compliance and risk management. Traditionally, this is a manual process that can only cover 5% of the landscape forcing firms to randomly sample and meaning the vast majority of customers are not adequately safeguarded. With solutions like this which can exponentially improve customer outcomes, benchmarks and regulatory expectations are almost inevitably going to shift." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "headline": "Time for change", "text": "Two common blockers to the adoption of new technologies are a lack of general awareness on the art of the possible and caution that the promised solution turns out to be a false dawn. As early adopters demonstrate the benefits of these solutions in the field then the arguments against using them become weakened. Meanwhile, legislation such as SM&CR could set a precedent that decision makers are expected to proactively research technological capabilities. As new RegTech solutions become staple in the market, it seems likely that regulations will gear up to keep pace. Whilst use of AI and related technologies is predominantly limited to those keen to take advantage of the benefits of operational efficiencies, increased output and improved customer outcomes, adoption will naturally spread over time, and in all likelihood gradually become mandatory from a regulatory standpoint. We will reach the stage where using key RegTech tools becomes expectation rather than innovation." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/will-changes-in-tech-drive-changes-in-regulations/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is RegTech adoption growing?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech adoption is growing because regulatory scrutiny, demand for transparency, manual legacy systems and pressure to improve outcomes are pushing firms towards better tools." } }, { "@type": "Question", "name": "How are regulators involved?", "acceptedAnswer": { "@type": "Answer", "text": "Regulators are supporting innovation through initiatives such as FCA TechSprints, regulatory sandboxes and collaboration with RegTech providers, with ASIC also engaging the community." } }, { "@type": "Question", "name": "Why might benchmarks shift?", "acceptedAnswer": { "@type": "Answer", "text": "As technology changes what firms can practically achieve, regulatory expectations may rise in line with those capabilities." } } ] } ] } ``` ### Holding AI to account in financial services - URL: https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/ - Published: 2019-06-11 - Modified: 2026-10-09 **Topic:** AI accountability AI can improve efficiency and support customer outcomes, but firms must understand its limits before relying on it for important financial decisions. Hybrid models let technology handle lower-value work while humans retain responsibility for high-stakes judgement. #### Key points - AI engines can lack transparency for the people who use them. - Unchecked models can produce unintended or prejudiced outcomes. - Manual processes also have limits, including mistakes and inconsistent judgements. - Regulators and legislators are increasing scrutiny of AI. - Hybrid models can automate preparation while humans make key decisions. *Recordsure Head of Research, Simon Worgan, explains some of the potential risks in relying purely on AI for key decision making and the areas it is best placed to deliver value.* **With AI powered systems increasingly underpinning the financial services industry, it’s important to consider the risks that sit alongside the benefits in this brave new world. Whereas an error on a consumer shopping device could result in the wrong groceries being ordered, the potential repercussions if an incorrect decision is made on a mortgage application could have a cataclysmic impact on the wellbeing of a customer. How do we hold technology to account in the same way we would a human adviser?** #### Does AI lack transparency? With so much at stake within the financial services sector, it is imperative that any reliance on AI solutions is thoroughly watertight before it is used in a live environment. Whilst AI has the potential to improve transparency and customer outcomes, an important consideration is whether AI engines themselves lack transparency. More often than not, the people actually using AI tools aren’t the ones that built them, meaning they won’t have an in-depth understanding of what makes them tick or where any potential limitations in the capability might lie. Without careful monitoring, deep learning technology fed only on quantitative data can produce results very different from what was intended. Take [Tay](https://en.wikipedia.org/wiki/Tay_(bot)) for example: this AI chatbot was released by Microsoft in 2016 but had the plug pulled after just 16 hours when it began sending inflammatory and offensive tweets. On the other hand though, building in rules to drive certain characteristics can unintentionally result in prejudices being passed on by accident, with customers ultimately paying the price. Using algorithms to determine eligibility for financial products or offering advice to customers offers huge opportunities for firms to drive efficiencies and personalise the customer experience, but they also carry the potential to cause far greater harm to the consumer than a tweet if left unchecked. #### How effective are the alternatives? Against this, it is important to weigh up the pros and cons of AI versus the alternatives, namely manual processes. Many of the tasks which AI can be deployed for can also be conducted by human operators. Whist human expertise is familiar to everyone and people are capable of more complex decision making than AI (currently at least), even the most ardent technophobe would concede that no one is perfect. Whilst humans don’t suffer the risk of algorithmic issues, we come with different limitations: we do sometimes make mistakes, cast inconsistent judgements and misunderstand information we are presented with. Also, humans need time to rest and sleep, meaning we can generally only cover a fraction of the ground that technology can. #### Trusting AI with key decisions [Regulators](https://www.fca.org.uk/insight/explaining-why-computer-says-no) and [legislators](https://old.parliament.uk/business/committees/committees-a-z/lords-select/ai-committee/news-parliament-2017/government-response-to-report/) alike are putting ever-increasing focus on AI, and not without good cause. AI isn’t necessarily at the point yet where it can be left to make complex decisions. In the context of financial services where any decision can be pivotal for the wellbeing of the consumer, any mechanism used to dictate customer outcomes must be thoroughly reliable before it can be used in a live environment. It is not only the technology which is changing though: our legal framework was largely written in an analogue world, and in many instances the legislation protecting customers is ill-prepared for the digital revolution we are rapidly diving into. Advisers are responsible for the guidance they provide their customers; if they offer poor advice causing financial harm then they are liable. But what if the advice is automated and a customer’s life is turned upside down due to a quirk in an algorithm? #### The low hanging fruit While shifting key decision making onto AI carries significant risks, the true benefits of adopting technology arguably lie more in supporting the human decision maker rather than replacing them. An area where machine learning technology is already thriving is in lower-value decision making and automation. With AI able to power through the burden of administrative chores, human operators are able to free up time to focus their energy on higher level decision making which is more complex and carries greater risks. A good example of this is compliance teams reviewing customer interactions with support from the Recordsure platform. The end decisions which need to be made are complex and require the high skill set of the reviewer, but many of the tasks reaching that point can be automated, for instance gathering all the necessary content, analysing it for relevant information and flagging significant cases which need follow-up action. Set ups like this can get the best of both worlds: alongside the assurance that high stakes decisions are made by human specialists, the technology allows them to cover ten times more ground resulting in an exponential improvement in coverage and customer support. Hybrids like this represent an optimal blend of human decision making power twinned with AI to automate the lower-value administrative work. The result is a system that has the power and reach of an AI driven tool but without the assurance of human expertise at all key points. Whilst both the technology and legal framework are not necessarily ready for full automation, combining AI with human decision making is already proving a powerful way of efficiently expanding output whilst simultaneously improving customer outcomes. Recordsure is conducting a survey to understand how disruptive technology is impacting workers in the financial sector at a team level on a day-to-day basis and whether this reflects macro trends. We’re keen to hear views from across the sector, so if you work within financial services or a similar regulated field you can share your insights via our [Disruptive Tech & Financial Services survey.](/insights/analysis-and-perspective/) #### Supporting sources - [Tay](https://en.wikipedia.org/wiki/Tay_(bot) - [Regulators](https://www.fca.org.uk/insight/explaining-why-computer-says-no) - [legislators](https://old.parliament.uk/business/committees/committees-a-z/lords-select/ai-committee/news-parliament-2017/government-response-to-report/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Holding AI to account in financial services", "item": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/", "name": "Holding AI to account in financial services", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-06-11T10:30:19+01:00", "dateModified": "2020-11-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-11-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Holding AI to account in financial services", "datePublished": "2019-06-11T10:30:19+01:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/694e47b0017e4d179c39a507818d1d38/thumbnail-1024-22fd72b0be929bcc441839c91a71fb84369f00696e5108104e079b843d391e15.jpg", "description": "AI can support financial services firms, but firms need transparency, monitoring and human accountability before using it for decisions that affect customer outcomes.", "inLanguage": "en-GB", "articleBody": "AI can improve efficiency and support customer outcomes, but firms must understand its limits before relying on it for important financial decisions. Hybrid models let technology handle lower-value work while humans retain responsibility for high-stakes judgement.\n\nRecordsure Head of Research, Simon Worgan, explains some of the potential risks in relying purely on AI for key decision making and the areas it is best placed to deliver value.\n\nWith AI powered systems increasingly underpinning the financial services industry, it\u2019s important to consider the risks that sit alongside the benefits in this brave new world. Whereas an error on a consumer shopping device could result in the wrong groceries being ordered, the potential repercussions if an incorrect decision is made on a mortgage application could have a cataclysmic impact on the wellbeing of a customer. How do we hold technology to account in the same way we would a human adviser?\n\nDoes AI lack transparency?\n\nWith so much at stake within the financial services sector, it is imperative that any reliance on AI solutions is thoroughly watertight before it is used in a live environment. Whilst AI has the potential to improve transparency and customer outcomes, an important consideration is whether AI engines themselves lack transparency.\n\nMore often than not, the people actually using AI tools aren\u2019t the ones that built them, meaning they won\u2019t have an in-depth understanding of what makes them tick or where any potential limitations in the capability might lie.\n\nWithout careful monitoring, deep learning technology fed only on quantitative data can produce results very different from what was intended. Take Tay) for example: this AI chatbot was released by Microsoft in 2016 but had the plug pulled after just 16 hours when it began sending inflammatory and offensive tweets. On the other hand though, building in rules to drive certain characteristics can unintentionally result in prejudices being passed on by accident, with customers ultimately paying the price.\n\nUsing algorithms to determine eligibility for financial products or offering advice to customers offers huge opportunities for firms to drive efficiencies and personalise the customer experience, but they also carry the potential to cause far greater harm to the consumer than a tweet if left unchecked.\n\nHow effective are the alternatives?\n\nAgainst this, it is important to weigh up the pros and cons of AI versus the alternatives, namely manual processes. Many of the tasks which AI can be deployed for can also be conducted by human operators.\n\nWhist human expertise is familiar to everyone and people are capable of more complex decision making than AI (currently at least), even the most ardent technophobe would concede that no one is perfect. Whilst humans don\u2019t suffer the risk of algorithmic issues, we come with different limitations: we do sometimes make mistakes, cast inconsistent judgements and misunderstand information we are presented with. Also, humans need time to rest and sleep, meaning we can generally only cover a fraction of the ground that technology can.\n\nTrusting AI with key decisions\n\nRegulators and legislators alike are putting ever-increasing focus on AI, and not without good cause. AI isn\u2019t necessarily at the point yet where it can be left to make complex decisions. In the context of financial services where any decision can be pivotal for the wellbeing of the consumer, any mechanism used to dictate customer outcomes must be thoroughly reliable before it can be used in a live environment.\n\nIt is not only the technology which is changing though: our legal framework was largely written in an analogue world, and in many instances the legislation protecting customers is ill-prepared for the digital revolution we are rapidly diving into. Advisers are responsible for the guidance they provide their customers; if they offer poor advice causing financial harm then they are liable. But what if the advice is automated and a customer\u2019s life is turned upside down due to a quirk in an algorithm?\n\nThe low hanging fruit\n\nWhile shifting key decision making onto AI carries significant risks, the true benefits of adopting technology arguably lie more in supporting the human decision maker rather than replacing them. An area where machine learning technology is already thriving is in lower-value decision making and automation. With AI able to power through the burden of administrative chores, human operators are able to free up time to focus their energy on higher level decision making which is more complex and carries greater risks.\n\nA good example of this is compliance teams reviewing customer interactions with support from the Recordsure platform. The end decisions which need to be made are complex and require the high skill set of the reviewer, but many of the tasks reaching that point can be automated, for instance gathering all the necessary content, analysing it for relevant information and flagging significant cases which need follow-up action. Set ups like this can get the best of both worlds: alongside the assurance that high stakes decisions are made by human specialists, the technology allows them to cover ten times more ground resulting in an exponential improvement in coverage and customer support.\n\nHybrids like this represent an optimal blend of human decision making power twinned with AI to automate the lower-value administrative work. The result is a system that has the power and reach of an AI driven tool but without the assurance of human expertise at all key points. Whilst both the technology and legal framework are not necessarily ready for full automation, combining AI with human decision making is already proving a powerful way of efficiently expanding output whilst simultaneously improving customer outcomes.\n\nRecordsure is conducting a survey to understand how disruptive technology is impacting workers in the financial sector at a team level on a day-to-day basis and whether this reflects macro trends. We\u2019re keen to hear views from across the sector, so if you work within financial services or a similar regulated field you can share your insights via our Disruptive Tech & Financial Services survey.", "wordCount": 992, "keywords": [ "Banking", "Utilities", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI accountability" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Utilities" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "Tay", "url": "https://en.wikipedia.org/wiki/Tay_(bot" }, { "@type": "CreativeWork", "name": "Regulators", "url": "https://www.fca.org.uk/insight/explaining-why-computer-says-no" }, { "@type": "CreativeWork", "name": "legislators", "url": "https://old.parliament.uk/business/committees/committees-a-z/lords-select/ai-committee/news-parliament-2017/government-response-to-report/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure Head of Research, Simon Worgan, explains some of the potential risks in relying purely on AI for key decision making and the areas it is best placed to deliver value.\n\nWith AI powered systems increasingly underpinning the financial services industry, it\u2019s important to consider the risks that sit alongside the benefits in this brave new world. Whereas an error on a consumer shopping device could result in the wrong groceries being ordered, the potential repercussions if an incorrect decision is made on a mortgage application could have a cataclysmic impact on the wellbeing of a customer. How do we hold technology to account in the same way we would a human adviser?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Does AI lack transparency?", "text": "With so much at stake within the financial services sector, it is imperative that any reliance on AI solutions is thoroughly watertight before it is used in a live environment. Whilst AI has the potential to improve transparency and customer outcomes, an important consideration is whether AI engines themselves lack transparency.\n\nMore often than not, the people actually using AI tools aren\u2019t the ones that built them, meaning they won\u2019t have an in-depth understanding of what makes them tick or where any potential limitations in the capability might lie.\n\nWithout careful monitoring, deep learning technology fed only on quantitative data can produce results very different from what was intended. Take Tay) for example: this AI chatbot was released by Microsoft in 2016 but had the plug pulled after just 16 hours when it began sending inflammatory and offensive tweets. On the other hand though, building in rules to drive certain characteristics can unintentionally result in prejudices being passed on by accident, with customers ultimately paying the price.\n\nUsing algorithms to determine eligibility for financial products or offering advice to customers offers huge opportunities for firms to drive efficiencies and personalise the customer experience, but they also carry the potential to cause far greater harm to the consumer than a tweet if left unchecked." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "How effective are the alternatives?", "text": "Against this, it is important to weigh up the pros and cons of AI versus the alternatives, namely manual processes. Many of the tasks which AI can be deployed for can also be conducted by human operators.\n\nWhist human expertise is familiar to everyone and people are capable of more complex decision making than AI (currently at least), even the most ardent technophobe would concede that no one is perfect. Whilst humans don\u2019t suffer the risk of algorithmic issues, we come with different limitations: we do sometimes make mistakes, cast inconsistent judgements and misunderstand information we are presented with. Also, humans need time to rest and sleep, meaning we can generally only cover a fraction of the ground that technology can." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "Trusting AI with key decisions", "text": "Regulators and legislators alike are putting ever-increasing focus on AI, and not without good cause. AI isn\u2019t necessarily at the point yet where it can be left to make complex decisions. In the context of financial services where any decision can be pivotal for the wellbeing of the consumer, any mechanism used to dictate customer outcomes must be thoroughly reliable before it can be used in a live environment.\n\nIt is not only the technology which is changing though: our legal framework was largely written in an analogue world, and in many instances the legislation protecting customers is ill-prepared for the digital revolution we are rapidly diving into. Advisers are responsible for the guidance they provide their customers; if they offer poor advice causing financial harm then they are liable. But what if the advice is automated and a customer\u2019s life is turned upside down due to a quirk in an algorithm?" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "headline": "The low hanging fruit", "text": "While shifting key decision making onto AI carries significant risks, the true benefits of adopting technology arguably lie more in supporting the human decision maker rather than replacing them. An area where machine learning technology is already thriving is in lower-value decision making and automation. With AI able to power through the burden of administrative chores, human operators are able to free up time to focus their energy on higher level decision making which is more complex and carries greater risks.\n\nA good example of this is compliance teams reviewing customer interactions with support from the Recordsure platform. The end decisions which need to be made are complex and require the high skill set of the reviewer, but many of the tasks reaching that point can be automated, for instance gathering all the necessary content, analysing it for relevant information and flagging significant cases which need follow-up action. Set ups like this can get the best of both worlds: alongside the assurance that high stakes decisions are made by human specialists, the technology allows them to cover ten times more ground resulting in an exponential improvement in coverage and customer support.\n\nHybrids like this represent an optimal blend of human decision making power twinned with AI to automate the lower-value administrative work. The result is a system that has the power and reach of an AI driven tool but without the assurance of human expertise at all key points. Whilst both the technology and legal framework are not necessarily ready for full automation, combining AI with human decision making is already proving a powerful way of efficiently expanding output whilst simultaneously improving customer outcomes.\n\nRecordsure is conducting a survey to understand how disruptive technology is impacting workers in the financial sector at a team level on a day-to-day basis and whether this reflects macro trends. We\u2019re keen to hear views from across the sector, so if you work within financial services or a similar regulated field you can share your insights via our Disruptive Tech & Financial Services survey." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/holding-ai-to-account-in-financial-services/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does transparency matter when firms use AI?", "acceptedAnswer": { "@type": "Answer", "text": "The people using AI tools may not understand how they were built or where their limitations sit, so firms need monitoring and assurance before using them live." } }, { "@type": "Question", "name": "What example shows AI behaving unexpectedly?", "acceptedAnswer": { "@type": "Answer", "text": "It cites Microsoft\u2019s Tay chatbot, released in 2016 and taken offline after 16 hours when it began sending inflammatory and offensive tweets." } }, { "@type": "Question", "name": "Are manual processes presented as risk-free?", "acceptedAnswer": { "@type": "Answer", "text": "No. People can make mistakes, apply inconsistent judgement and only cover a limited amount of work." } }, { "@type": "Question", "name": "Where is AI strongest now?", "acceptedAnswer": { "@type": "Answer", "text": "It sees value in using AI to automate lower-value administrative work, gather content, analyse information and flag cases while humans make key decisions." } } ] } ] } ``` ### Compliance embraces tech to drive competitive advantage - URL: https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/ - Published: 2019-05-21 - Modified: 2026-10-09 **Topic:** Compliance technology Joe Norburn argues that compliance is being reshaped by customer expectations, regulation and technology. As RegTech reduces manual monitoring limits, firms can use customer interaction data to improve oversight, service, sales and training. #### Key points - Compliance is shifting from a cost burden to a source of customer insight and commercial value. - RegTech solutions were expected to rise around 30% by 2022 and account for 34% of compliance spend. - Manual review of audio and documents can leave firms sampling under 5% of interactions. - AI can direct reviewers towards cases that need follow-up rather than relying on tiny samples. **Recordsure CEO Joe Norburn was featured in [Business Reporter](https://business-reporter.co.uk/)’s Future of Banking and FinTech report, exploring how the role of compliance in business strategy is shifting as technology helps firms gain wider commercial value from regulatory activity.** Once viewed as a straitjacket by many financial services firms, the compliance department is changing, driven by customers and amplified by technology. Driven by regulation and increasingly informed customers, successful financial services firms have realised that understanding customer needs sits at the heart of profit and growth. Compliance, once criticised as an innovation inhibitor, is gaining recognition as a function rich in customer data. New RegTech innovations are helping teams use this data to improve processes, cut costs and gain customer insight. Compliance is therefore moving from a profit sponge to a value creator. #### A new era for compliance Regulation has moved on from the tick-box, lip-service regime adopted before the 2008 financial crisis. Demonstrating and evidencing that customers receive good experiences and outcomes has become central to compliance operations. This change in mindset has been carried by new technological innovation, which has supported compliance teams while raising expectations from customers, stakeholders and regulators. It is an international trend. UK and Australian financial services watchdogs, the FCA and ASIC, are conveying a similar message: as new tools become available to aid compliance, firms will increasingly be asked why they are not using them. Compliance costs have reached high levels for many firms as demands have grown. With RegTech solutions expected to rise around 30% by 2022 and account for 34% of compliance spend, technology is being seen by compliance departments as a way to balance the cost-to-income ratio. #### Moving on from a hope and a prayer As a new era in compliance dawns, regulated firms are waking up to the value that disruptive technology offers. One area under scrutiny is monitoring customer conversations for compliance purposes. Historically, firms have relied on labour-intensive processes in which reviewers manually trawl through correspondence and listen to audio recordings to determine compliance. Written documentation can quickly reach a high page count, and every hour of audio recordings takes around three hours to review. Given the volume of interactions an organisation can have with customers each day, monitoring at scale becomes difficult. Firms are forced to rely on small-scale sampling, typically reviewing under 5% of the total pool and hoping systemic issues are found. That leaves a blind spot and exposes firms to regulatory and customer care risks. #### Changing the status quo The status quo has remained unchanged and unchallenged for years. Traditional methods are now reaching the end of their shelf life as technology makes it possible to manage new data in smarter ways. Emerging technologies are changing legacy systems and taking much of the heavy lifting from compliance teams. Review teams can use AI to interpret customer interactions, dissect data at scale and direct them towards cases that genuinely need follow-up action. In practice, this is the difference between probing a tiny sample and hoping to find a needle in a haystack, and surveying the full landscape so resources can be targeted where they are needed. #### Compliance as a competitive advantage The impact goes beyond traditional compliance areas such as risk management and operational efficiency. There are wider benefits from unlocking profit-making data held within customer interactions. Understanding customer interactions and turning data into usable information underpins customer care, improves sales messaging and supports training. As a result, firms may improve how they target, sell to and serve customers, creating competitive advantage. The role of compliance in business strategy is beginning to shift from cost creator to potential profit maker. Compliance teams are better placed than ever to provide tangible commercial value beyond their regulatory obligations. #### Supporting sources - [Business Reporter](https://business-reporter.co.uk/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Compliance embraces tech to drive competitive advantage", "item": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/", "name": "Compliance embraces tech to drive competitive advantage", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-05-21T10:55:46+01:00", "dateModified": "2022-06-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-06-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Compliance embraces tech to drive competitive advantage", "datePublished": "2019-05-21T10:55:46+01:00", "dateModified": "2026-10-09T04:50:06+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/abc37bd9e4634c588520d6330d8ae11d/thumbnail-1024-bcca58f4c688b170313b1fc495cc45420e5cd955ec1acdc1391731e6596044a8.jpg", "description": "Joe Norburn explains how technology is changing compliance from a defensive function into a source of customer insight, efficiency and commercial value.", "inLanguage": "en-GB", "articleBody": "Joe Norburn argues that compliance is being reshaped by customer expectations, regulation and technology. As RegTech reduces manual monitoring limits, firms can use customer interaction data to improve oversight, service, sales and training.\n\nRecordsure CEO Joe Norburn was featured in Business Reporter\u2019s Future of Banking and FinTech report, exploring how the role of compliance in business strategy is shifting as technology helps firms gain wider commercial value from regulatory activity.\n\nOnce viewed as a straitjacket by many financial services firms, the compliance department is changing, driven by customers and amplified by technology.\n\nDriven by regulation and increasingly informed customers, successful financial services firms have realised that understanding customer needs sits at the heart of profit and growth. Compliance, once criticised as an innovation inhibitor, is gaining recognition as a function rich in customer data.\n\nNew RegTech innovations are helping teams use this data to improve processes, cut costs and gain customer insight. Compliance is therefore moving from a profit sponge to a value creator.\n\nA new era for compliance\n\nRegulation has moved on from the tick-box, lip-service regime adopted before the 2008 financial crisis. Demonstrating and evidencing that customers receive good experiences and outcomes has become central to compliance operations.\n\nThis change in mindset has been carried by new technological innovation, which has supported compliance teams while raising expectations from customers, stakeholders and regulators. It is an international trend. UK and Australian financial services watchdogs, the FCA and ASIC, are conveying a similar message: as new tools become available to aid compliance, firms will increasingly be asked why they are not using them.\n\nCompliance costs have reached high levels for many firms as demands have grown. With RegTech solutions expected to rise around 30% by 2022 and account for 34% of compliance spend, technology is being seen by compliance departments as a way to balance the cost-to-income ratio.\n\nMoving on from a hope and a prayer\n\nAs a new era in compliance dawns, regulated firms are waking up to the value that disruptive technology offers. One area under scrutiny is monitoring customer conversations for compliance purposes.\n\nHistorically, firms have relied on labour-intensive processes in which reviewers manually trawl through correspondence and listen to audio recordings to determine compliance. Written documentation can quickly reach a high page count, and every hour of audio recordings takes around three hours to review.\n\nGiven the volume of interactions an organisation can have with customers each day, monitoring at scale becomes difficult. Firms are forced to rely on small-scale sampling, typically reviewing under 5% of the total pool and hoping systemic issues are found. That leaves a blind spot and exposes firms to regulatory and customer care risks.\n\nChanging the status quo\n\nThe status quo has remained unchanged and unchallenged for years. Traditional methods are now reaching the end of their shelf life as technology makes it possible to manage new data in smarter ways.\n\nEmerging technologies are changing legacy systems and taking much of the heavy lifting from compliance teams. Review teams can use AI to interpret customer interactions, dissect data at scale and direct them towards cases that genuinely need follow-up action.\n\nIn practice, this is the difference between probing a tiny sample and hoping to find a needle in a haystack, and surveying the full landscape so resources can be targeted where they are needed.\n\nCompliance as a competitive advantage\n\nThe impact goes beyond traditional compliance areas such as risk management and operational efficiency. There are wider benefits from unlocking profit-making data held within customer interactions.\n\nUnderstanding customer interactions and turning data into usable information underpins customer care, improves sales messaging and supports training. As a result, firms may improve how they target, sell to and serve customers, creating competitive advantage.\n\nThe role of compliance in business strategy is beginning to shift from cost creator to potential profit maker. Compliance teams are better placed than ever to provide tangible commercial value beyond their regulatory obligations.", "wordCount": 653, "keywords": [ "Banking", "Insurance", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Compliance technology" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "Business Reporter", "url": "https://business-reporter.co.uk/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure CEO Joe Norburn was featured in Business Reporter\u2019s Future of Banking and FinTech report, exploring how the role of compliance in business strategy is shifting as technology helps firms gain wider commercial value from regulatory activity.\n\nOnce viewed as a straitjacket by many financial services firms, the compliance department is changing, driven by customers and amplified by technology.\n\nDriven by regulation and increasingly informed customers, successful financial services firms have realised that understanding customer needs sits at the heart of profit and growth. Compliance, once criticised as an innovation inhibitor, is gaining recognition as a function rich in customer data.\n\nNew RegTech innovations are helping teams use this data to improve processes, cut costs and gain customer insight. Compliance is therefore moving from a profit sponge to a value creator." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "A new era for compliance", "text": "Regulation has moved on from the tick-box, lip-service regime adopted before the 2008 financial crisis. Demonstrating and evidencing that customers receive good experiences and outcomes has become central to compliance operations.\n\nThis change in mindset has been carried by new technological innovation, which has supported compliance teams while raising expectations from customers, stakeholders and regulators. It is an international trend. UK and Australian financial services watchdogs, the FCA and ASIC, are conveying a similar message: as new tools become available to aid compliance, firms will increasingly be asked why they are not using them.\n\nCompliance costs have reached high levels for many firms as demands have grown. With RegTech solutions expected to rise around 30% by 2022 and account for 34% of compliance spend, technology is being seen by compliance departments as a way to balance the cost-to-income ratio." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Moving on from a hope and a prayer", "text": "As a new era in compliance dawns, regulated firms are waking up to the value that disruptive technology offers. One area under scrutiny is monitoring customer conversations for compliance purposes.\n\nHistorically, firms have relied on labour-intensive processes in which reviewers manually trawl through correspondence and listen to audio recordings to determine compliance. Written documentation can quickly reach a high page count, and every hour of audio recordings takes around three hours to review.\n\nGiven the volume of interactions an organisation can have with customers each day, monitoring at scale becomes difficult. Firms are forced to rely on small-scale sampling, typically reviewing under 5% of the total pool and hoping systemic issues are found. That leaves a blind spot and exposes firms to regulatory and customer care risks." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Changing the status quo", "text": "The status quo has remained unchanged and unchallenged for years. Traditional methods are now reaching the end of their shelf life as technology makes it possible to manage new data in smarter ways.\n\nEmerging technologies are changing legacy systems and taking much of the heavy lifting from compliance teams. Review teams can use AI to interpret customer interactions, dissect data at scale and direct them towards cases that genuinely need follow-up action.\n\nIn practice, this is the difference between probing a tiny sample and hoping to find a needle in a haystack, and surveying the full landscape so resources can be targeted where they are needed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Compliance as a competitive advantage", "text": "The impact goes beyond traditional compliance areas such as risk management and operational efficiency. There are wider benefits from unlocking profit-making data held within customer interactions.\n\nUnderstanding customer interactions and turning data into usable information underpins customer care, improves sales messaging and supports training. As a result, firms may improve how they target, sell to and serve customers, creating competitive advantage.\n\nThe role of compliance in business strategy is beginning to shift from cost creator to potential profit maker. Compliance teams are better placed than ever to provide tangible commercial value beyond their regulatory obligations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-embraces-tech-to-drive-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where was Joe Norburn featured?", "acceptedAnswer": { "@type": "Answer", "text": "He was featured in Business Reporter\u2019s Future of Banking and FinTech report." } }, { "@type": "Question", "name": "How are regulatory expectations changing?", "acceptedAnswer": { "@type": "Answer", "text": "Regulators such as the FCA and ASIC increasingly ask why firms are not using available tools to support compliance." } }, { "@type": "Question", "name": "Why is manual monitoring limited?", "acceptedAnswer": { "@type": "Answer", "text": "Written documentation can be lengthy, every hour of audio takes around three hours to review, and firms may sample under 5% of interactions." } }, { "@type": "Question", "name": "How can technology make compliance commercially useful?", "acceptedAnswer": { "@type": "Answer", "text": "By interpreting interaction data at scale, it can support customer care, sales messaging, training and better targeting of review resources." } } ] } ] } ``` ### Achieving compliance with a helping hand from RegTech - URL: https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/ - Published: 2019-05-15 - Modified: 2026-10-09 **Topic:** RegTech compliance RegTech is becoming part of practical compliance delivery as regulatory accountability increases. Technology can support governance, reasonable-steps evidence and culture oversight. #### Key points - SM&CR has increased the need for senior managers to understand and evidence their responsibilities. - Hiring larger compliance and monitoring teams is becoming less sustainable and less affordable. - Technology can strengthen human review by extracting structured data from conversations, notes and scanned documents. - RegTech can help evidence oversight, culture and customer outcomes, but it does not replace human governance. The financial services industry has seen significant regulatory change in recent years, with the extension of the Senior Managers and Certification Regime (SM&CR) introducing changes at the heart of organisations. Individual accountability is a UK requirement that has started to be noticed in other jurisdictions, and the concept of senior managers being clear on their areas of accountability and responsibility is not going away. Singapore, Hong Kong and Australia have finalised their positions on the matter, and other countries including the US and Ireland have noted that similar regimes may follow. The Australian regime, the Banking Executive Accountability Regime (BEAR), is the closest to the UK SM&CR regime. It came into effect for the largest banks in Australia on 1st July 2018, and was due to come into effect for other authorised deposit-taking institutions (ADIs) a year later. None of the other regimes are currently as advanced or as wide-reaching as the UK SM&CR regime. Traditionally, firms may have increased the size of compliance and monitoring teams in response to regulatory change, but that approach is becoming increasingly unsustainable and unaffordable. As RegTech moves beyond hype and cements its place in financial services, technology solutions can have a positive impact on compliance. #### Governance and oversight A cornerstone of effective governance is ensuring senior managers have access to the right data at the right time. With SM&CR applying more widely, firms need to understand how governance works within their operation and where weaknesses exist. Where gaps are identified, technology can complement and strengthen existing human governance and review. AI-led solutions such as Recordsure enable firms to extract structured data from customer conversations, meeting notes and scanned documents. That data can inform senior managers’ decisions and identify emerging risks before they lead to customer detriment. #### Reasonable steps and regulatory expectations SM&CR requires senior managers to take reasonable steps to control the areas of the business for which they are personally responsible. These steps are not prescribed by the FCA, but are defined as actions an individual would reasonably be expected to take to prevent a regulatory breach. Effective oversight is central to that requirement. Technology can play a vital role in demonstrating the expected level of oversight through effective reporting mechanisms. The FCA is aware of technology applications that can provide this level of oversight, including 100% monitoring of interactions, and is likely to ask firms why they are not using the breadth of available solutions to manage conduct risk. Dismissing such solutions without adequate research would not be considered reasonable; firms should understand what technology is available, how accessible it is and what impact it could have on the business. #### Culture An appropriate financial services culture cannot be dictated or imposed. It develops through the behaviours, values and attitudes demonstrated at all levels of a firm. The FCA’s approach has moved from promoting the theoretical virtues of a positive culture to assessing data from across an organisation to decide whether that culture meets expectations. Technology will never be a panacea for poor culture. Through the collection and reporting of relevant and timely management information (MI), it can help firms understand their culture. It also enables firms to evidence that culture is producing positive customer outcomes, identify areas for improvement and demonstrate their commitment to regulatory expectations. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Achieving compliance with a helping hand from RegTech", "item": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/", "name": "Achieving compliance with a helping hand from RegTech", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-05-15T10:39:10+01:00", "dateModified": "2021-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2021-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Achieving compliance with a helping hand from RegTech", "datePublished": "2019-05-15T10:39:10+01:00", "dateModified": "2026-10-09T04:50:04+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/91871dd300bf43b79e1d9c275fb24bcd/thumbnail-1024-28511929632e0b023625f86870f76161bd2a19e985a018c49e96b9d027b5daa9.jpg", "description": "RegTech can help financial services firms respond to SM&CR by improving governance data, evidencing reasonable steps and supporting culture oversight without relying only on larger teams.", "inLanguage": "en-GB", "articleBody": "RegTech is becoming part of practical compliance delivery as regulatory accountability increases. Technology can support governance, reasonable-steps evidence and culture oversight.\n\nThe financial services industry has seen significant regulatory change in recent years, with the extension of the Senior Managers and Certification Regime (SM&CR) introducing changes at the heart of organisations. Individual accountability is a UK requirement that has started to be noticed in other jurisdictions, and the concept of senior managers being clear on their areas of accountability and responsibility is not going away.\n\nSingapore, Hong Kong and Australia have finalised their positions on the matter, and other countries including the US and Ireland have noted that similar regimes may follow. The Australian regime, the Banking Executive Accountability Regime (BEAR), is the closest to the UK SM&CR regime. It came into effect for the largest banks in Australia on 1st July 2018, and was due to come into effect for other authorised deposit-taking institutions (ADIs) a year later.\n\nNone of the other regimes are currently as advanced or as wide-reaching as the UK SM&CR regime. Traditionally, firms may have increased the size of compliance and monitoring teams in response to regulatory change, but that approach is becoming increasingly unsustainable and unaffordable. As RegTech moves beyond hype and cements its place in financial services, technology solutions can have a positive impact on compliance.\n\nGovernance and oversight\n\nA cornerstone of effective governance is ensuring senior managers have access to the right data at the right time. With SM&CR applying more widely, firms need to understand how governance works within their operation and where weaknesses exist.\n\nWhere gaps are identified, technology can complement and strengthen existing human governance and review. AI-led solutions such as Recordsure enable firms to extract structured data from customer conversations, meeting notes and scanned documents. That data can inform senior managers\u2019 decisions and identify emerging risks before they lead to customer detriment.\n\nReasonable steps and regulatory expectations\n\nSM&CR requires senior managers to take reasonable steps to control the areas of the business for which they are personally responsible. These steps are not prescribed by the FCA, but are defined as actions an individual would reasonably be expected to take to prevent a regulatory breach. Effective oversight is central to that requirement.\n\nTechnology can play a vital role in demonstrating the expected level of oversight through effective reporting mechanisms. The FCA is aware of technology applications that can provide this level of oversight, including 100% monitoring of interactions, and is likely to ask firms why they are not using the breadth of available solutions to manage conduct risk. Dismissing such solutions without adequate research would not be considered reasonable; firms should understand what technology is available, how accessible it is and what impact it could have on the business.\n\nCulture\n\nAn appropriate financial services culture cannot be dictated or imposed. It develops through the behaviours, values and attitudes demonstrated at all levels of a firm. The FCA\u2019s approach has moved from promoting the theoretical virtues of a positive culture to assessing data from across an organisation to decide whether that culture meets expectations.\n\nTechnology will never be a panacea for poor culture. Through the collection and reporting of relevant and timely management information (MI), it can help firms understand their culture. It also enables firms to evidence that culture is producing positive customer outcomes, identify areas for improvement and demonstrate their commitment to regulatory expectations.", "wordCount": 566, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "RegTech compliance" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "inLanguage": "en-GB", "text": "The financial services industry has seen significant regulatory change in recent years, with the extension of the Senior Managers and Certification Regime (SM&CR) introducing changes at the heart of organisations. Individual accountability is a UK requirement that has started to be noticed in other jurisdictions, and the concept of senior managers being clear on their areas of accountability and responsibility is not going away.\n\nSingapore, Hong Kong and Australia have finalised their positions on the matter, and other countries including the US and Ireland have noted that similar regimes may follow. The Australian regime, the Banking Executive Accountability Regime (BEAR), is the closest to the UK SM&CR regime. It came into effect for the largest banks in Australia on 1st July 2018, and was due to come into effect for other authorised deposit-taking institutions (ADIs) a year later.\n\nNone of the other regimes are currently as advanced or as wide-reaching as the UK SM&CR regime. Traditionally, firms may have increased the size of compliance and monitoring teams in response to regulatory change, but that approach is becoming increasingly unsustainable and unaffordable. As RegTech moves beyond hype and cements its place in financial services, technology solutions can have a positive impact on compliance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "Governance and oversight", "text": "A cornerstone of effective governance is ensuring senior managers have access to the right data at the right time. With SM&CR applying more widely, firms need to understand how governance works within their operation and where weaknesses exist.\n\nWhere gaps are identified, technology can complement and strengthen existing human governance and review. AI-led solutions such as Recordsure enable firms to extract structured data from customer conversations, meeting notes and scanned documents. That data can inform senior managers\u2019 decisions and identify emerging risks before they lead to customer detriment." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "Reasonable steps and regulatory expectations", "text": "SM&CR requires senior managers to take reasonable steps to control the areas of the business for which they are personally responsible. These steps are not prescribed by the FCA, but are defined as actions an individual would reasonably be expected to take to prevent a regulatory breach. Effective oversight is central to that requirement.\n\nTechnology can play a vital role in demonstrating the expected level of oversight through effective reporting mechanisms. The FCA is aware of technology applications that can provide this level of oversight, including 100% monitoring of interactions, and is likely to ask firms why they are not using the breadth of available solutions to manage conduct risk. Dismissing such solutions without adequate research would not be considered reasonable; firms should understand what technology is available, how accessible it is and what impact it could have on the business." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "inLanguage": "en-GB", "headline": "Culture", "text": "An appropriate financial services culture cannot be dictated or imposed. It develops through the behaviours, values and attitudes demonstrated at all levels of a firm. The FCA\u2019s approach has moved from promoting the theoretical virtues of a positive culture to assessing data from across an organisation to decide whether that culture meets expectations.\n\nTechnology will never be a panacea for poor culture. Through the collection and reporting of relevant and timely management information (MI), it can help firms understand their culture. It also enables firms to evidence that culture is producing positive customer outcomes, identify areas for improvement and demonstrate their commitment to regulatory expectations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/achieving-compliance-with-a-helping-hand-from-regtech/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How does SM&CR change compliance expectations?", "acceptedAnswer": { "@type": "Answer", "text": "It requires senior managers to be clear on accountability and to take reasonable steps to control the business areas for which they are responsible." } }, { "@type": "Question", "name": "Where can RegTech support governance?", "acceptedAnswer": { "@type": "Answer", "text": "It can provide structured data from conversations, meeting notes and scanned documents so senior managers can understand risks and weaknesses earlier." } }, { "@type": "Question", "name": "Can technology fix culture on its own?", "acceptedAnswer": { "@type": "Answer", "text": "No. Technology is not a panacea for poor culture, but it can provide MI and evidence that help firms understand and improve culture." } } ] } ] } ``` ### Compliance as a competitive advantage - URL: https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/ - Published: 2019-05-08 - Modified: 2026-10-09 **Topic:** Compliance advantage Compliance is often seen as costly and restrictive, but RegTech can help firms reduce manual work and use compliance data more effectively. Mark Braddock identifies lower costs, better customer care and improved sales insight as key areas of advantage. #### Key points - RegTech spending was forecast to reach $76bn globally by 2022, up from $10.6bn in 2017. - Automation can remove low-value manual work and let skilled reviewers focus on higher-value judgement. - Compliance data can identify vulnerable customers, emerging complaints and customer care risks. - Interaction analytics can help sales teams understand messaging, training needs and cross-sell or upsell opportunities. **Speaking at RegTech Talks during Leeds Digital Festival, Recordsure COO Mark Braddock discussed the evolution of compliance and three areas where it can give organisations an edge over competitors.** For those who have followed financial services for some time, compliance has often been associated with cost-sponge, innovation inhibitor and corporate straitjacket perceptions. The number of regulations has increased in recent years, adding to the cost of abiding by them. Those changes have had good reasons. They safeguard end customers, nurture transparency and trust in the market, and change was needed after the financial crisis. Even so, higher general compliance costs have created fresh commercial challenges. #### The turning of the tide RegTech has long promised to change this landscape. With an estimated $76bn forecast to be spent on RegTech globally by 2022, up from $10.6bn in 2017, new solutions are beginning to affect how compliance is perceived within businesses. Central to this is compliance’s cost-to-income ratio, with firms seeking to make the most of early uptake. Compliance is becoming a battleground in the search for competitive advantage. At a high level, organisations are looking to capitalise on three areas: lowering costs, improving brand reputation and customer care, and optimising sales processes and messaging. #### Lowering costs RegTech and automation can replace low-value manual chores, allowing staff to spend more time on higher-value activity and make better decisions more efficiently. In compliance, Recordsure’s example is the reviewer work involved in reviewing customer interactions and written correspondence. Up to 90% of an analyst’s time can be spent organising files and structuring data. This is a large time burden and low-skilled work being undertaken by highly skilled staff. That work can now be automated, allowing reviewers to focus on areas requiring expertise while speeding up processes by 90%. This enables firms to reduce remediation and past business review costs by up to 60%, freeing budget for other uses. #### Improving brand reputation and customer care Compliance data provides valuable insights for customer care. Once firms can use this information, they can identify segments such as vulnerable customers who may need additional support, or complaints before they develop into complaints. This allows organisations to use customer care as a differentiator. Treating customers well is good business: it supports reputation, retention and acquisition. Poor customer care creates risk beyond frustration. Its causes are often tied to regulatory shortcomings. If firms get customer care wrong, it can become a compliance issue, risking audits, fines and damaging publicity. A strong RegTech infrastructure helps reduce those risks and protect brand reputation from major controversies. #### Optimising sales processes and messaging Customer interaction data is significant beyond compliance. It is also useful for sales teams. Gauging a customer’s reaction is essential for sales, and AI can help business development teams understand what customers are saying and how they are saying it, combining behavioural analytics with language. This gives sales teams a way to gauge which messaging is effective and which is not. It helps identify cross-sell and upsell opportunities at scale, and provides macro insight that no individual could access alone. Analytics also enables sales agents to review their own work. Team leaders can see how teams are performing and use productive team members as examples to show what a good conversation looks like, improving training with real-life examples. #### The shifting role of compliance Compliance officers remain responsible for ensuring compliance and doing so cost effectively. That responsibility is unchanged, but technology can improve the cost-to-income ratio for the better. Compliance teams have moved on from being only cost creators. Costs can be reduced through automation, while analytics provides important customer care support and commercially useful sales assets that can help increase revenue. Innovative firms are already pressing their advantage through early adoption. Recordsure was also conducting research to understand how disruptive technology affects workers in the financial sector at team level and on a day-to-day basis, and whether this reflects macro trends. The survey was open to views from across the sector, including people working in financial services or a similar regulated field, took 2 minutes to complete and promised findings to contributors. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Mark Braddock identifies lower costs, better customer care and improved sales insight as key areas of advantage.\n\nSpeaking at RegTech Talks during Leeds Digital Festival, Recordsure COO Mark Braddock discussed the evolution of compliance and three areas where it can give organisations an edge over competitors.\n\nFor those who have followed financial services for some time, compliance has often been associated with cost-sponge, innovation inhibitor and corporate straitjacket perceptions. The number of regulations has increased in recent years, adding to the cost of abiding by them.\n\nThose changes have had good reasons. They safeguard end customers, nurture transparency and trust in the market, and change was needed after the financial crisis. Even so, higher general compliance costs have created fresh commercial challenges.\n\nThe turning of the tide\n\nRegTech has long promised to change this landscape. With an estimated $76bn forecast to be spent on RegTech globally by 2022, up from $10.6bn in 2017, new solutions are beginning to affect how compliance is perceived within businesses.\n\nCentral to this is compliance\u2019s cost-to-income ratio, with firms seeking to make the most of early uptake. Compliance is becoming a battleground in the search for competitive advantage.\n\nAt a high level, organisations are looking to capitalise on three areas: lowering costs, improving brand reputation and customer care, and optimising sales processes and messaging.\n\nLowering costs\n\nRegTech and automation can replace low-value manual chores, allowing staff to spend more time on higher-value activity and make better decisions more efficiently. In compliance, Recordsure\u2019s example is the reviewer work involved in reviewing customer interactions and written correspondence.\n\nUp to 90% of an analyst\u2019s time can be spent organising files and structuring data. This is a large time burden and low-skilled work being undertaken by highly skilled staff.\n\nThat work can now be automated, allowing reviewers to focus on areas requiring expertise while speeding up processes by 90%. This enables firms to reduce remediation and past business review costs by up to 60%, freeing budget for other uses.\n\nImproving brand reputation and customer care\n\nCompliance data provides valuable insights for customer care. Once firms can use this information, they can identify segments such as vulnerable customers who may need additional support, or complaints before they develop into complaints.\n\nThis allows organisations to use customer care as a differentiator. Treating customers well is good business: it supports reputation, retention and acquisition.\n\nPoor customer care creates risk beyond frustration. Its causes are often tied to regulatory shortcomings. If firms get customer care wrong, it can become a compliance issue, risking audits, fines and damaging publicity. A strong RegTech infrastructure helps reduce those risks and protect brand reputation from major controversies.\n\nOptimising sales processes and messaging\n\nCustomer interaction data is significant beyond compliance. It is also useful for sales teams. Gauging a customer\u2019s reaction is essential for sales, and AI can help business development teams understand what customers are saying and how they are saying it, combining behavioural analytics with language.\n\nThis gives sales teams a way to gauge which messaging is effective and which is not. It helps identify cross-sell and upsell opportunities at scale, and provides macro insight that no individual could access alone.\n\nAnalytics also enables sales agents to review their own work. Team leaders can see how teams are performing and use productive team members as examples to show what a good conversation looks like, improving training with real-life examples.\n\nThe shifting role of compliance\n\nCompliance officers remain responsible for ensuring compliance and doing so cost effectively. That responsibility is unchanged, but technology can improve the cost-to-income ratio for the better.\n\nCompliance teams have moved on from being only cost creators. Costs can be reduced through automation, while analytics provides important customer care support and commercially useful sales assets that can help increase revenue. Innovative firms are already pressing their advantage through early adoption.\n\nRecordsure was also conducting research to understand how disruptive technology affects workers in the financial sector at team level and on a day-to-day basis, and whether this reflects macro trends. The survey was open to views from across the sector, including people working in financial services or a similar regulated field, took 2 minutes to complete and promised findings to contributors.", "wordCount": 720, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-6" } ], "about": [ { "@type": "Thing", "name": "Compliance advantage" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "text": "Speaking at RegTech Talks during Leeds Digital Festival, Recordsure COO Mark Braddock discussed the evolution of compliance and three areas where it can give organisations an edge over competitors.\n\nFor those who have followed financial services for some time, compliance has often been associated with cost-sponge, innovation inhibitor and corporate straitjacket perceptions. The number of regulations has increased in recent years, adding to the cost of abiding by them.\n\nThose changes have had good reasons. They safeguard end customers, nurture transparency and trust in the market, and change was needed after the financial crisis. Even so, higher general compliance costs have created fresh commercial challenges." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "The turning of the tide", "text": "RegTech has long promised to change this landscape. With an estimated $76bn forecast to be spent on RegTech globally by 2022, up from $10.6bn in 2017, new solutions are beginning to affect how compliance is perceived within businesses.\n\nCentral to this is compliance\u2019s cost-to-income ratio, with firms seeking to make the most of early uptake. Compliance is becoming a battleground in the search for competitive advantage.\n\nAt a high level, organisations are looking to capitalise on three areas: lowering costs, improving brand reputation and customer care, and optimising sales processes and messaging." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Lowering costs", "text": "RegTech and automation can replace low-value manual chores, allowing staff to spend more time on higher-value activity and make better decisions more efficiently. In compliance, Recordsure\u2019s example is the reviewer work involved in reviewing customer interactions and written correspondence.\n\nUp to 90% of an analyst\u2019s time can be spent organising files and structuring data. This is a large time burden and low-skilled work being undertaken by highly skilled staff.\n\nThat work can now be automated, allowing reviewers to focus on areas requiring expertise while speeding up processes by 90%. This enables firms to reduce remediation and past business review costs by up to 60%, freeing budget for other uses." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Improving brand reputation and customer care", "text": "Compliance data provides valuable insights for customer care. Once firms can use this information, they can identify segments such as vulnerable customers who may need additional support, or complaints before they develop into complaints.\n\nThis allows organisations to use customer care as a differentiator. Treating customers well is good business: it supports reputation, retention and acquisition.\n\nPoor customer care creates risk beyond frustration. Its causes are often tied to regulatory shortcomings. If firms get customer care wrong, it can become a compliance issue, risking audits, fines and damaging publicity. A strong RegTech infrastructure helps reduce those risks and protect brand reputation from major controversies." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "Optimising sales processes and messaging", "text": "Customer interaction data is significant beyond compliance. It is also useful for sales teams. Gauging a customer\u2019s reaction is essential for sales, and AI can help business development teams understand what customers are saying and how they are saying it, combining behavioural analytics with language.\n\nThis gives sales teams a way to gauge which messaging is effective and which is not. It helps identify cross-sell and upsell opportunities at scale, and provides macro insight that no individual could access alone.\n\nAnalytics also enables sales agents to review their own work. Team leaders can see how teams are performing and use productive team members as examples to show what a good conversation looks like, improving training with real-life examples." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "headline": "The shifting role of compliance", "text": "Compliance officers remain responsible for ensuring compliance and doing so cost effectively. That responsibility is unchanged, but technology can improve the cost-to-income ratio for the better.\n\nCompliance teams have moved on from being only cost creators. Costs can be reduced through automation, while analytics provides important customer care support and commercially useful sales assets that can help increase revenue. Innovative firms are already pressing their advantage through early adoption.\n\nRecordsure was also conducting research to understand how disruptive technology affects workers in the financial sector at team level and on a day-to-day basis, and whether this reflects macro trends. The survey was open to views from across the sector, including people working in financial services or a similar regulated field, took 2 minutes to complete and promised findings to contributors." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-as-a-competitive-advantage/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How can RegTech reduce compliance costs?", "acceptedAnswer": { "@type": "Answer", "text": "It can automate low-value manual work such as organising files and structuring data, allowing skilled reviewers to focus on higher-value judgement." } }, { "@type": "Question", "name": "What figures show the scale of RegTech spending?", "acceptedAnswer": { "@type": "Answer", "text": "It says global RegTech spending was forecast to reach $76bn by 2022, up from $10.6bn in 2017." } }, { "@type": "Question", "name": "How can compliance data support customer care?", "acceptedAnswer": { "@type": "Answer", "text": "It can help identify vulnerable customers, possible complaints and customer care risks before they create wider harm." } }, { "@type": "Question", "name": "Why is interaction data valuable for sales?", "acceptedAnswer": { "@type": "Answer", "text": "It helps sales teams understand customer reactions, assess messaging, identify opportunities and use real conversations for training." } } ] } ] } ``` ### Recordsure selected for new international programme boosting UK FinTech industry - URL: https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/ - Published: 2019-05-01 - Modified: 2026-10-09 **Topic:** FinTech Bridge Recordsure was included in the Department for International Trade’s FinTech Bridge Pilot Programme with Australia, designed to support collaboration and reduce barriers to international expansion. #### Key points - Recordsure joined the DIT FinTech Bridge Pilot Programme with Australia. - The programme was run with Her Majesty’s Treasury to support collaboration and reduce expansion barriers. - Industry experts selected 10 companies to take part in Australia that year. - Australia and Hong Kong had almost 1,000 active fintech companies between them. #### What the FinTech Bridge covers UK RegTech Recordsure has been included in the Department for International Trade’s (DIT) FinTech Bridge Pilot Programme with Australia. In partnership with Her Majesty’s Treasury, the programme aims to support collaboration and reduce barriers to international expansion. This builds upon the Government’s FinTech Bridge agreements signed with Australia, Hong Kong, China, Singapore and South Korea. A FinTech Bridge represents a bespoke agreement outlining collaboration between two governments, cooperation between regulatory bodies and connectivity between two markets and ecosystems. This encourages the sharing of information, including emerging trends and regulatory issues, with counterparts and discussions around areas of best practice. #### Why Recordsure was selected The Programme is highly competitive, with industry experts selecting just 10 companies to take part in Australia this year. Included businesses have demonstrated notable success in their sector and represent some of the best of UK fintech’s ecosystem’s growth and innovation potential. With large-scale business opportunities, Australia and Hong Kong have almost 1,000 active fintech companies between them and are well-connected to other key markets across the Asia Pacific. #### Programme context and market figures Launched in 2016 by DIT, HMT, Financial Conduct Authority (FCA) and the then-Economic Secretary (EST) Fintech Bridges represent the Government’s flagship international fintech policy, which sets out a bilateral agreement between the UK and a priority market with the aim of facilitating trade flows, reducing frictions to international growth and increasing access to capital opportunities. The Fintech Bridge Pilot Programmes have been launched at a pivotal time for in UK fintech rose by 18% to $3.3 billion in 2018 and VC investment reached a record $36.6 billion across 2,304 deals, a 148% increase from previous years. Reflecting on Recordsure’s selection for the FinTech Bridge, Founder [Joanne Smith](/meet-the-team/) commented: #### Recordsure’s view “This is a brilliant programme and the perfect springboard to build on the momentum we have already gained through our [Australia expansion this year](/insights/news/kpmg-brings-regtech-recordsure-australia/). The UK has some fantastic FinTech innovations to showcase, and for Recordsure to have been selected amongst such strong competition is a huge honour. Working alongside the Department for International Trade, we look forward to collaborating with other leading FinTechs as we expand our international presence.” To learn more about the FinTech Bridge, please visit the [Department for International Trade’s website](https://www.gov.uk/government/news/dr-liam-fox-launches-new-international-programs-to-boost-uk-fintech-industry). #### Supporting sources - [Department for International Trade FinTech Bridge announcement](https://www.gov.uk/government/news/dr-liam-fox-launches-new-international-programs-to-boost-uk-fintech-industry) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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In partnership with Her Majesty\u2019s Treasury, the programme aims to support collaboration and reduce barriers to international expansion.\n\nThis builds upon the Government\u2019s FinTech Bridge agreements signed with Australia, Hong Kong, China, Singapore and South Korea. A FinTech Bridge represents a bespoke agreement outlining collaboration between two governments, cooperation between regulatory bodies and connectivity between two markets and ecosystems. This encourages the sharing of information, including emerging trends and regulatory issues, with counterparts and discussions around areas of best practice.\n\nWhy Recordsure was selected\n\nThe Programme is highly competitive, with industry experts selecting just 10 companies to take part in Australia this year. Included businesses have demonstrated notable success in their sector and represent some of the best of UK fintech\u2019s ecosystem\u2019s growth and innovation potential.\n\nWith large-scale business opportunities, Australia and Hong Kong have almost 1,000 active fintech companies between them and are well-connected to other key markets across the Asia Pacific.\n\nProgramme context and market figures\n\nLaunched in 2016 by DIT, HMT, Financial Conduct Authority (FCA) and the then-Economic Secretary (EST) Fintech Bridges represent the Government\u2019s flagship international fintech policy, which sets out a bilateral agreement between the UK and a priority market with the aim of facilitating trade flows, reducing frictions to international growth and increasing access to capital opportunities.\n\nThe Fintech Bridge Pilot Programmes have been launched at a pivotal time for in UK fintech rose by 18% to $3.3 billion in 2018 and VC investment reached a record $36.6 billion across 2,304 deals, a 148% increase from previous years.\n\nReflecting on Recordsure\u2019s selection for the FinTech Bridge, Founder Joanne Smith commented:\n\nRecordsure\u2019s view\n\n\u201cThis is a brilliant programme and the perfect springboard to build on the momentum we have already gained through our Australia expansion this year. The UK has some fantastic FinTech innovations to showcase, and for Recordsure to have been selected amongst such strong competition is a huge honour. Working alongside the Department for International Trade, we look forward to collaborating with other leading FinTechs as we expand our international presence.\u201d\n\nTo learn more about the FinTech Bridge, please visit the Department for International Trade\u2019s website.", "wordCount": 402, "keywords": [ "Government", "Insurance", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Insurance", "url": "https://recordsure.com/sector/insurance/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FinTech Bridge" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Insurance" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Department for International Trade FinTech Bridge announcement", "url": "https://www.gov.uk/government/news/dr-liam-fox-launches-new-international-programs-to-boost-uk-fintech-industry" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#webpage" }, "inLanguage": "en-GB", "headline": "What the FinTech Bridge covers", "text": "UK RegTech Recordsure has been included in the Department for International Trade\u2019s (DIT) FinTech Bridge Pilot Programme with Australia. In partnership with Her Majesty\u2019s Treasury, the programme aims to support collaboration and reduce barriers to international expansion.\n\nThis builds upon the Government\u2019s FinTech Bridge agreements signed with Australia, Hong Kong, China, Singapore and South Korea. A FinTech Bridge represents a bespoke agreement outlining collaboration between two governments, cooperation between regulatory bodies and connectivity between two markets and ecosystems. This encourages the sharing of information, including emerging trends and regulatory issues, with counterparts and discussions around areas of best practice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#webpage" }, "inLanguage": "en-GB", "headline": "Why Recordsure was selected", "text": "The Programme is highly competitive, with industry experts selecting just 10 companies to take part in Australia this year. Included businesses have demonstrated notable success in their sector and represent some of the best of UK fintech\u2019s ecosystem\u2019s growth and innovation potential.\n\nWith large-scale business opportunities, Australia and Hong Kong have almost 1,000 active fintech companies between them and are well-connected to other key markets across the Asia Pacific." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#webpage" }, "inLanguage": "en-GB", "headline": "Programme context and market figures", "text": "Launched in 2016 by DIT, HMT, Financial Conduct Authority (FCA) and the then-Economic Secretary (EST) Fintech Bridges represent the Government\u2019s flagship international fintech policy, which sets out a bilateral agreement between the UK and a priority market with the aim of facilitating trade flows, reducing frictions to international growth and increasing access to capital opportunities.\n\nThe Fintech Bridge Pilot Programmes have been launched at a pivotal time for in UK fintech rose by 18% to $3.3 billion in 2018 and VC investment reached a record $36.6 billion across 2,304 deals, a 148% increase from previous years.\n\nReflecting on Recordsure\u2019s selection for the FinTech Bridge, Founder Joanne Smith commented:" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#webpage" }, "inLanguage": "en-GB", "headline": "Recordsure\u2019s view", "text": "\u201cThis is a brilliant programme and the perfect springboard to build on the momentum we have already gained through our Australia expansion this year. The UK has some fantastic FinTech innovations to showcase, and for Recordsure to have been selected amongst such strong competition is a huge honour. Working alongside the Department for International Trade, we look forward to collaborating with other leading FinTechs as we expand our international presence.\u201d\n\nTo learn more about the FinTech Bridge, please visit the Department for International Trade\u2019s website." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-selected-for-new-international-programme-boosting-uk-fintech-industry/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which programme selected Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "The Department for International Trade\u2019s FinTech Bridge Pilot Programme with Australia." } }, { "@type": "Question", "name": "What was the programme designed to do?", "acceptedAnswer": { "@type": "Answer", "text": "It was designed to support collaboration and reduce barriers to international expansion." } }, { "@type": "Question", "name": "How many companies were selected?", "acceptedAnswer": { "@type": "Answer", "text": "Industry experts selected 10 companies to take part in Australia that year." } }, { "@type": "Question", "name": "What market opportunity is cited?", "acceptedAnswer": { "@type": "Answer", "text": "Australia and Hong Kong had almost 1,000 active fintech companies between them." } } ] } ] } ``` ### The power of three and flying the banner for women in tech - URL: https://recordsure.com/insights/analysis-and-perspective/the-power-of-three-and-flying-the-banner-for-women-in-tech/ - Published: 2019-03-10 - Modified: 2026-10-09 **Topic:** Women in tech Joanne Smith received three recognitions in one week, alongside Recordsure’s alliance with KPMG in Australia. Joanne Smith and Recordsure CEO Joe Norburn both commented on the significance of the week. #### Key points - Joanne Smith was honoured three times in seven days for her impact in technology. - She was named in the Women in Fintech Powerlist and joined an #ACCELERATERegTech panel. - She also won the Entrepreneur award at the FDM everywoman in Technology Awards. - The recognitions coincided with Recordsure’s Australian alliance with KPMG. - The Australian opportunity connects to issues highlighted by the Royal Commission. They say three is a magic number: Joanne Smith was honoured three times in seven days for the impact she was having in the tech industry. The founder and Group CEO of Recordsure and TCC was named in the [Women in Fintech Powerlist](/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/), asked to join the panel discussing The Founder Journey at [#ACCELERATERegTech](https://regtech.org.au/accelerate19) and won the Entrepreneur award in the [FDM everywoman in Technology Awards](https://www.everywoman.com/events-awards). #### Recognition and expansion The accolades came in the same week as International Women’s Day and coincided with Recordsure’s announcement of an alliance with KPMG in Australia. This is a significant step for the organisation and the start of its international expansion. It also says there is significant potential to transform the Australian financial services sector, where Recordsure’s solution is positioned to address core issues highlighted in the recent Royal Commission. #### Comments from Joanne Smith and Joe Norburn Speaking from Sydney, Joanne said: “What a fabulous week – I feel so flattered to have been associated with these fantastic initiatives. I would like to thank the teams at TCC and Recordsure for all the hard work that has gone in to get us where we are today: they deserve recognition for the huge strides we are taking collectively as a group.” Recordsure CEO Joe Norburn added: “We are all so proud of Joanne. Recordsure owes its success not just to her pioneering spirit in creating the solution at the start but to the tireless work she does day in, day out to keep us ahead of the curve. I am delighted she is getting recognition for her huge contributions to the industry: I can think of no-one more deserving.” #### Supporting sources - [#ACCELERATERegTech](https://regtech.org.au/accelerate19) - [FDM everywoman in Technology Awards](https://www.everywoman.com/events-awards) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Joanne Smith and Recordsure CEO Joe Norburn both commented on the significance of the week.\n\nThey say three is a magic number: Joanne Smith was honoured three times in seven days for the impact she was having in the tech industry.\n\nThe founder and Group CEO of Recordsure and TCC was named in the Women in Fintech Powerlist, asked to join the panel discussing The Founder Journey at #ACCELERATERegTech and won the Entrepreneur award in the FDM everywoman in Technology Awards.\n\nRecognition and expansion\n\nThe accolades came in the same week as International Women\u2019s Day and coincided with Recordsure\u2019s announcement of an alliance with KPMG in Australia. 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This is a significant step for the organisation and the start of its international expansion.\n\nIt also says there is significant potential to transform the Australian financial services sector, where Recordsure\u2019s solution is positioned to address core issues highlighted in the recent Royal Commission." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-power-of-three-and-flying-the-banner-for-women-in-tech/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-power-of-three-and-flying-the-banner-for-women-in-tech/#webpage" }, "inLanguage": "en-GB", "headline": "Comments from Joanne Smith and Joe Norburn", "text": "Speaking from Sydney, Joanne said: \u201cWhat a fabulous week \u2013 I feel so flattered to have been associated with these fantastic initiatives. I would like to thank the teams at TCC and Recordsure for all the hard work that has gone in to get us where we are today: they deserve recognition for the huge strides we are taking collectively as a group.\u201d\n\nRecordsure CEO Joe Norburn added: \u201cWe are all so proud of Joanne. Recordsure owes its success not just to her pioneering spirit in creating the solution at the start but to the tireless work she does day in, day out to keep us ahead of the curve. I am delighted she is getting recognition for her huge contributions to the industry: I can think of no-one more deserving.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/the-power-of-three-and-flying-the-banner-for-women-in-tech/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/the-power-of-three-and-flying-the-banner-for-women-in-tech/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who is recognised?", "acceptedAnswer": { "@type": "Answer", "text": "It is about Joanne Smith, founder and Group CEO of Recordsure and TCC." } }, { "@type": "Question", "name": "What recognitions did she receive?", "acceptedAnswer": { "@type": "Answer", "text": "She was named in the Women in Fintech Powerlist, joined an #ACCELERATERegTech panel and won the Entrepreneur award at the FDM everywoman in Technology Awards." } }, { "@type": "Question", "name": "What business development happened that week?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure announced an alliance with KPMG in Australia, marking the start of international expansion." } } ] } ] } ``` ### Recordsure announces alliance with KPMG in Australia - URL: https://recordsure.com/insights/news/kpmg-brings-regtech-recordsure-australia/ - Published: 2019-03-05 - Modified: 2026-10-09 **Topic:** KPMG Australia alliance KPMG Australia and Recordsure announced an alliance to bring Recordsure’s customer trust and transparency solutions to Australian financial institutions. The technology supports interaction capture, document review, remediation and customer outcomes. #### Key points - KPMG Australia and Recordsure announced an alliance for Australian financial institutions. - Recordsure was recognised in the KPMG and H2 Global Fintech100 in 2018. - The technology records and transposes speech, reviews documents and analyses resulting data. - KPMG acts as the Australian implementation provider within its risk and business transformation capabilities. KPMG Australia and regtech company Recordsure today announced an alliance to roll-out the London-headquartered startup’s AI-driven customer trust and transparency solutions to financial institutions in Australia. Recognised as one of the 50 emerging fintechs in the KPMG and H2 Global Fintech100 in 2018, Recordsure was founded in 2013 in response to the FCA taking action against the industry on a host of issues similar to those raised in the recent Financial Services Royal Commission. Recordsure helps financial institutions such as banks and superannuation providers to capture data from customer interactions and improve both regulatory compliance and the customer experience. Recordsure’s unique technology relies heavily on artificial intelligence and machine learning and is used by a number of UK banks, insurers and wealth managers. It provides analytics and automation tools to record and transpose speech to text, review documents such as emails and live chat and analyses the resulting data. The technology is able to highlight possible risks early, such as behavioural triggers indicating a potentially vulnerable customer. It can also be applied within remediation programs to rapidly assess customer files providing a comprehensive means to review interactions and support customers across all channels. #### Speech and document analytics As the Australian implementation provider for Recordsure, KPMG will deliver Recordsure within its existing suite of risk and business transformation capabilities to deliver services to financial services clients. #### KPMG implementation in Australia Adrian Fisk, National Industry Leader, Financial Services, KPMG Australia, commented: “Across the financial services industry organisations are looking to use technology to improve both compliance and customer experience.” “We first identified this area as a pain point in the market over 18 months ago. We considered building our own technology platform, but discovered Recordsure and saw an opportunity to integrate it with our risk and customer capabilities to solve some big challenges in the market. We are excited to be introducing this pioneering regtech technology in Australia. Particularly at a time when interactions between the financial services industry and their customers are under more scrutiny than ever before.” Recordsure founder Joanne Smith said she was excited about the opportunity to deploy Recordsure’s solutions in Australia. #### Need for system reform “The overwhelming message I have been getting is the urgent need for change, and the acceptance that throwing more people at the problems won’t solve them. Our technology is needed to reform the system. The really encouraging thing is the determination business leaders are showing in addressing the root cause of the issues rather than papering over the cracks. It’s good news for consumers and the industry as a whole.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The technology supports interaction capture, document review, remediation and customer outcomes.\n\nKPMG Australia and regtech company Recordsure today announced an alliance to roll-out the London-headquartered startup\u2019s AI-driven customer trust and transparency solutions to financial institutions in Australia.\n\nRecognised as one of the 50 emerging fintechs in the KPMG and H2 Global Fintech100 in 2018, Recordsure was founded in 2013 in response to the FCA taking action against the industry on a host of issues similar to those raised in the recent Financial Services Royal Commission. Recordsure helps financial institutions such as banks and superannuation providers to capture data from customer interactions and improve both regulatory compliance and the customer experience.\n\nRecordsure\u2019s unique technology relies heavily on artificial intelligence and machine learning and is used by a number of UK banks, insurers and wealth managers. 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We are excited to be introducing this pioneering regtech technology in Australia. Particularly at a time when interactions between the financial services industry and their customers are under more scrutiny than ever before.\u201d\n\nRecordsure founder Joanne Smith said she was excited about the opportunity to deploy Recordsure\u2019s solutions in Australia.\n\nNeed for system reform\n\n\u201cThe overwhelming message I have been getting is the urgent need for change, and the acceptance that throwing more people at the problems won\u2019t solve them. Our technology is needed to reform the system. The really encouraging thing is the determination business leaders are showing in addressing the root cause of the issues rather than papering over the cracks. 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We considered building our own technology platform, but discovered Recordsure and saw an opportunity to integrate it with our risk and customer capabilities to solve some big challenges in the market. We are excited to be introducing this pioneering regtech technology in Australia. 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The initiative promotes diversity, inclusion and visible role models across FinTech. #### Key points - Joanne Smith was named in the Senior Leaders category of the Women in FinTech Powerlist. - The Powerlist celebrates women’s achievements and talent across the FinTech ecosystem. - The organisers narrowed more than 1200 responses in the initiative’s fifth year. - The initiative aims to promote diversity, inclusion and visible role models in the industry. Recordsure Founder and Group CEO Joanne Smith was named in the Senior Leaders category on the Innovate Finance Women in FinTech Powerlist. The Women in FinTech Powerlist celebrates the achievements and talent of women across the FinTech ecosystem. In its fifth year, the organisers had to narrow down more than 1200 responses to highlight women who had made an impact beyond their day-to-day role in FinTech. #### Recognising role models in FinTech The initiative seeks to promote diversity and inclusion by listing role models for people to aspire to, while also highlighting trendsetters and doers who are making a difference in the industry. Speaking about the accolade, Joanne said: “The work Innovate Finance do in championing the impact women are having in the FinTech ecosystem is truly amazing. To have been counted alongside so many inspirational entrepreneurs and thought leaders is a tremendous honour, and testament to the strides Recordsure has taken over the last 12 months.” Readers were directed to the [Innovate Finance website](https://www.innovatefinance.com/womeninfintech/powerlist2018/) to learn more about the Women in FinTech Powerlist and similar initiatives. #### Supporting sources - [Innovate Finance Women in FinTech Powerlist 2018](https://www.innovatefinance.com/womeninfintech/powerlist2018/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The initiative promotes diversity, inclusion and visible role models across FinTech.\n\nRecordsure Founder and Group CEO Joanne Smith was named in the Senior Leaders category on the Innovate Finance Women in FinTech Powerlist.\n\nThe Women in FinTech Powerlist celebrates the achievements and talent of women across the FinTech ecosystem. In its fifth year, the organisers had to narrow down more than 1200 responses to highlight women who had made an impact beyond their day-to-day role in FinTech.\n\nRecognising role models in FinTech\n\nThe initiative seeks to promote diversity and inclusion by listing role models for people to aspire to, while also highlighting trendsetters and doers who are making a difference in the industry.\n\nSpeaking about the accolade, Joanne said: \u201cThe work Innovate Finance do in championing the impact women are having in the FinTech ecosystem is truly amazing. To have been counted alongside so many inspirational entrepreneurs and thought leaders is a tremendous honour, and testament to the strides Recordsure has taken over the last 12 months.\u201d\n\nReaders were directed to the Innovate Finance website to learn more about the Women in FinTech Powerlist and similar initiatives.", "wordCount": 208, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FinTech Powerlist" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Innovate Finance Women in FinTech Powerlist 2018", "url": "https://www.innovatefinance.com/womeninfintech/powerlist2018/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure Founder and Group CEO Joanne Smith was named in the Senior Leaders category on the Innovate Finance Women in FinTech Powerlist.\n\nThe Women in FinTech Powerlist celebrates the achievements and talent of women across the FinTech ecosystem. In its fifth year, the organisers had to narrow down more than 1200 responses to highlight women who had made an impact beyond their day-to-day role in FinTech." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#webpage" }, "inLanguage": "en-GB", "headline": "Recognising role models in FinTech", "text": "The initiative seeks to promote diversity and inclusion by listing role models for people to aspire to, while also highlighting trendsetters and doers who are making a difference in the industry.\n\nSpeaking about the accolade, Joanne said: \u201cThe work Innovate Finance do in championing the impact women are having in the FinTech ecosystem is truly amazing. To have been counted alongside so many inspirational entrepreneurs and thought leaders is a tremendous honour, and testament to the strides Recordsure has taken over the last 12 months.\u201d\n\nReaders were directed to the Innovate Finance website to learn more about the Women in FinTech Powerlist and similar initiatives." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-founder-joanne-smith-named-women-fintech-powerlist/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which category recognised Joanne Smith?", "acceptedAnswer": { "@type": "Answer", "text": "Joanne Smith was named in the Senior Leaders category of the Innovate Finance Women in FinTech Powerlist." } }, { "@type": "Question", "name": "What does the Women in FinTech Powerlist celebrate?", "acceptedAnswer": { "@type": "Answer", "text": "It celebrates the achievements and talent of women across the FinTech ecosystem." } }, { "@type": "Question", "name": "What is the purpose of the initiative?", "acceptedAnswer": { "@type": "Answer", "text": "The initiative promotes diversity and inclusion by listing role models and highlighting people making a difference in the industry." } } ] } ] } ``` ### Voice technology and compliance: keeping pace with spiralling customer expectations - URL: https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/ - Published: 2019-02-13 - Modified: 2026-10-09 **Topic:** Voice technology expectations Consumer adoption of voice-enabled tools is changing expectations of transparency and accountability. Firms that plan for recorded, evidenced interactions can avoid falling behind customer demand. #### Key points - Voice-enabled tools were being adopted rapidly in homes while businesses moved more slowly. - Customer expectations now include quick responses, joined-up communication and greater transparency. - Face-to-face financial discussions have often been less documented than phone or written channels. - Records of meetings can support transparency, audit trails and confidence in important decisions. - Firms need to anticipate behavioural change rather than react after expectations have moved. **We take a look at voice technology, the widening gap between its adoption in homes compared to businesses and how organisations can avoid falling behind the curve.** Does technology change human behaviour, or is it behaviour which drives changes in technology? It’s a question that fuels a lot of debate, with strong arguments on both sides. The spiralling adoption of voice-enabled tools and AI-driven speech analytics represent the perfect arena to watch as both behavioural traits and technological capabilities evolve. The use of speech enabled tools is rising rapidly in homes, with YouGov reporting that ownership of [smart speakers doubled over a period of just six months](https://yougov.co.uk/topics/consumer/articles-reports/2018/04/19/smart-speaker-ownership-doubles-six-months) whilst ComScore predicts that voice-search will be the go-to channel and account for [50% of all online searches by 2020](https://www.campaignlive.co.uk/article/just-say-it-future-search-voice-personal-digital-assistants/1392459). One could make a strong case that this is a powerful example of technology’s ability to change human behaviour, but this isn’t the whole story. Businesses have typically been slower than consumers to embrace voice activated tools and conversational AI. The financial sector is a great example of an industry turning to technology to keep pace with the growing demands of the consumer. #### Shifting expectations Customer expectations have grown in line with developments in technology, leading to higher demands from business providers: quick responses, joined up communication across all brand touch points and swift resolution to enquiries are now expected as standard despite the challenges in delivering them over large organisations. Key to companies closing the gap and keeping up with rising expectations is anticipating how they are likely to evolve. One of the big areas these expectations are growing is around brand transparency, which is underpinned in part by record keeping and audit trails. Traditionally, this is an area associated more with compliance teams than consumers, but the focus on areas like this could be starting to broaden. #### The demand for transparency Since the financial crisis, heavy emphasis has been placed on accountability in the finance sector. Regulated firms are required to maintain records of their customer phone conversations with customers as well as written correspondence. However, face-to-face meetings have gone relatively undocumented despite it being the primary channel for some of the most important discussions. You can see how this has evolved: written documentation comes with a natural paper trail and recording phone conversations is a core part of many telephony systems. Face-to-face meetings however generally haven’t traditionally been recorded, and doing so often represents a cultural change. #### Big Brother? More and more firms are bringing in voice recording to face-to-face meetings. The benefits are usually clear: comprehensive audit trails, transparency and accurate records to name just a few. However, there is often concern about the customer response and whether people will be uncomfortable being recorded when speaking to advisers. From our experience though, customers have gone the other way and reacted very positively to meeting recording. Why? Firms typically ask themselves *how* customers will react to recorded meetings, but this is perhaps the wrong question: they should be asking *why* aren’t they demanding it already, or perhaps *when* will it be expected as standard. #### Changing perspectives Consider a mortgage consultation for instance. For many consumers, this will be the biggest financial decision they ever make, with a huge amount riding on it. There are a multitude of different elements which need to be carefully considered, and customers will want to be confident that they have been offered sound advice, made the correct decisions and that this is all reflected accurately in the final contract. There will come a day when consumers will be deeply uncomfortable with the thought of having such pivotal conversations unrecorded and the risk of missing key intricacies from the paperwork that follows. Attitudes will shift: a thorough account of everything that was discussed will be expected by consumers as a given whereas unrecorded meetings will seem unreliable and lack credibility. There are parallels in other fields of disruptive technology: take self-driving cars for instance. If you were walking down the street today and saw a car passing by with no one behind the wheel, you would stop and stare. The technology is new and people are still coming to terms with the concept, but this is destined to change: one day, people will *expect* cars to be autonomous as the algorithms driving them will be more reliable than a human operator. One day, people will stop to stare at a car when they see it is being driven by a human. #### Embracing change So is it behaviour that drives technological change or technological change that drives human behaviour? Whilst you could argue the case either way, it is hard to argue that there isn’t a connection between behavioural shifts and technological growth. Firms that do not pro-actively strive to innovate and adopt new technological solutions will not hold back growing customer expectations: they will simply be left behind. A vital part of future proofing is understanding how customer behaviour and demand will shift. Without planning for this in advance, firms will be left scrambling to react to customer expectations as they continue to evolve. Get it right though and the opportunities are endless. #### Supporting sources - [Smart speaker ownership doubles in six months](https://yougov.co.uk/topics/consumer/articles-reports/2018/04/19/smart-speaker-ownership-doubles-six-months) - [Future of search in voice and personal digital assistants](https://www.campaignlive.co.uk/article/just-say-it-future-search-voice-personal-digital-assistants/1392459) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Voice technology and compliance: keeping pace with spiralling customer expectations", "item": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/", "name": "Voice technology and compliance: keeping pace with spiralling customer expectations", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2019-02-13T09:36:17+00:00", "dateModified": "2019-02-13T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2019-02-13" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Voice technology and compliance: keeping pace with spiralling customer expectations", "datePublished": "2019-02-13T09:36:17+00:00", "dateModified": "2026-10-09T04:50:23+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/52159cb658a44832ad8d342625aa4a08/thumbnail-1024-1dd661085db740f75611376cc96dc15117d10a3be38e8f48a275794b709bbee5.jpg", "description": "Voice technology is changing customer expectations. Firms may need better records and audit trails for important face-to-face conversations as transparency becomes more important.", "inLanguage": "en-GB", "articleBody": "Consumer adoption of voice-enabled tools is changing expectations of transparency and accountability. Firms that plan for recorded, evidenced interactions can avoid falling behind customer demand.\n\nWe take a look at voice technology, the widening gap between its adoption in homes compared to businesses and how organisations can avoid falling behind the curve.\n\nDoes technology change human behaviour, or is it behaviour which drives changes in technology?\n\nIt\u2019s a question that fuels a lot of debate, with strong arguments on both sides. The spiralling adoption of voice-enabled tools and AI-driven speech analytics represent the perfect arena to watch as both behavioural traits and technological capabilities evolve.\n\nThe use of speech enabled tools is rising rapidly in homes, with YouGov reporting that ownership of smart speakers doubled over a period of just six months whilst ComScore predicts that voice-search will be the go-to channel and account for 50% of all online searches by 2020. One could make a strong case that this is a powerful example of technology\u2019s ability to change human behaviour, but this isn\u2019t the whole story.\n\nBusinesses have typically been slower than consumers to embrace voice activated tools and conversational AI. The financial sector is a great example of an industry turning to technology to keep pace with the growing demands of the consumer.\n\nShifting expectations\n\nCustomer expectations have grown in line with developments in technology, leading to higher demands from business providers: quick responses, joined up communication across all brand touch points and swift resolution to enquiries are now expected as standard despite the challenges in delivering them over large organisations. Key to companies closing the gap and keeping up with rising expectations is anticipating how they are likely to evolve.\n\nOne of the big areas these expectations are growing is around brand transparency, which is underpinned in part by record keeping and audit trails. Traditionally, this is an area associated more with compliance teams than consumers, but the focus on areas like this could be starting to broaden.\n\nThe demand for transparency\n\nSince the financial crisis, heavy emphasis has been placed on accountability in the finance sector. Regulated firms are required to maintain records of their customer phone conversations with customers as well as written correspondence. However, face-to-face meetings have gone relatively undocumented despite it being the primary channel for some of the most important discussions.\n\nYou can see how this has evolved: written documentation comes with a natural paper trail and recording phone conversations is a core part of many telephony systems. Face-to-face meetings however generally haven\u2019t traditionally been recorded, and doing so often represents a cultural change.\n\nBig Brother?\n\nMore and more firms are bringing in voice recording to face-to-face meetings. The benefits are usually clear: comprehensive audit trails, transparency and accurate records to name just a few. However, there is often concern about the customer response and whether people will be uncomfortable being recorded when speaking to advisers.\n\nFrom our experience though, customers have gone the other way and reacted very positively to meeting recording. Why?\n\nFirms typically ask themselves how customers will react to recorded meetings, but this is perhaps the wrong question: they should be asking why aren\u2019t they demanding it already, or perhaps when will it be expected as standard.\n\nChanging perspectives\n\nConsider a mortgage consultation for instance. For many consumers, this will be the biggest financial decision they ever make, with a huge amount riding on it. There are a multitude of different elements which need to be carefully considered, and customers will want to be confident that they have been offered sound advice, made the correct decisions and that this is all reflected accurately in the final contract.\n\nThere will come a day when consumers will be deeply uncomfortable with the thought of having such pivotal conversations unrecorded and the risk of missing key intricacies from the paperwork that follows. Attitudes will shift: a thorough account of everything that was discussed will be expected by consumers as a given whereas unrecorded meetings will seem unreliable and lack credibility.\n\nThere are parallels in other fields of disruptive technology: take self-driving cars for instance. If you were walking down the street today and saw a car passing by with no one behind the wheel, you would stop and stare. The technology is new and people are still coming to terms with the concept, but this is destined to change: one day, people will expect cars to be autonomous as the algorithms driving them will be more reliable than a human operator. One day, people will stop to stare at a car when they see it is being driven by a human.\n\nEmbracing change\n\nSo is it behaviour that drives technological change or technological change that drives human behaviour? Whilst you could argue the case either way, it is hard to argue that there isn\u2019t a connection between behavioural shifts and technological growth. Firms that do not pro-actively strive to innovate and adopt new technological solutions will not hold back growing customer expectations: they will simply be left behind.\n\nA vital part of future proofing is understanding how customer behaviour and demand will shift. Without planning for this in advance, firms will be left scrambling to react to customer expectations as they continue to evolve. Get it right though and the opportunities are endless.", "wordCount": 882, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Voice technology expectations" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-6" } ], "citation": [ { "@type": "CreativeWork", "name": "Smart speaker ownership doubles in six months", "url": "https://yougov.co.uk/topics/consumer/articles-reports/2018/04/19/smart-speaker-ownership-doubles-six-months" }, { "@type": "CreativeWork", "name": "Future of search in voice and personal digital assistants", "url": "https://www.campaignlive.co.uk/article/just-say-it-future-search-voice-personal-digital-assistants/1392459" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "text": "We take a look at voice technology, the widening gap between its adoption in homes compared to businesses and how organisations can avoid falling behind the curve.\n\nDoes technology change human behaviour, or is it behaviour which drives changes in technology?\n\nIt\u2019s a question that fuels a lot of debate, with strong arguments on both sides. The spiralling adoption of voice-enabled tools and AI-driven speech analytics represent the perfect arena to watch as both behavioural traits and technological capabilities evolve.\n\nThe use of speech enabled tools is rising rapidly in homes, with YouGov reporting that ownership of smart speakers doubled over a period of just six months whilst ComScore predicts that voice-search will be the go-to channel and account for 50% of all online searches by 2020. One could make a strong case that this is a powerful example of technology\u2019s ability to change human behaviour, but this isn\u2019t the whole story.\n\nBusinesses have typically been slower than consumers to embrace voice activated tools and conversational AI. The financial sector is a great example of an industry turning to technology to keep pace with the growing demands of the consumer." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "headline": "Shifting expectations", "text": "Customer expectations have grown in line with developments in technology, leading to higher demands from business providers: quick responses, joined up communication across all brand touch points and swift resolution to enquiries are now expected as standard despite the challenges in delivering them over large organisations. Key to companies closing the gap and keeping up with rising expectations is anticipating how they are likely to evolve.\n\nOne of the big areas these expectations are growing is around brand transparency, which is underpinned in part by record keeping and audit trails. Traditionally, this is an area associated more with compliance teams than consumers, but the focus on areas like this could be starting to broaden." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "headline": "The demand for transparency", "text": "Since the financial crisis, heavy emphasis has been placed on accountability in the finance sector. Regulated firms are required to maintain records of their customer phone conversations with customers as well as written correspondence. However, face-to-face meetings have gone relatively undocumented despite it being the primary channel for some of the most important discussions.\n\nYou can see how this has evolved: written documentation comes with a natural paper trail and recording phone conversations is a core part of many telephony systems. Face-to-face meetings however generally haven\u2019t traditionally been recorded, and doing so often represents a cultural change." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "headline": "Big Brother?", "text": "More and more firms are bringing in voice recording to face-to-face meetings. The benefits are usually clear: comprehensive audit trails, transparency and accurate records to name just a few. However, there is often concern about the customer response and whether people will be uncomfortable being recorded when speaking to advisers.\n\nFrom our experience though, customers have gone the other way and reacted very positively to meeting recording. Why?\n\nFirms typically ask themselves how customers will react to recorded meetings, but this is perhaps the wrong question: they should be asking why aren\u2019t they demanding it already, or perhaps when will it be expected as standard." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "headline": "Changing perspectives", "text": "Consider a mortgage consultation for instance. For many consumers, this will be the biggest financial decision they ever make, with a huge amount riding on it. There are a multitude of different elements which need to be carefully considered, and customers will want to be confident that they have been offered sound advice, made the correct decisions and that this is all reflected accurately in the final contract.\n\nThere will come a day when consumers will be deeply uncomfortable with the thought of having such pivotal conversations unrecorded and the risk of missing key intricacies from the paperwork that follows. Attitudes will shift: a thorough account of everything that was discussed will be expected by consumers as a given whereas unrecorded meetings will seem unreliable and lack credibility.\n\nThere are parallels in other fields of disruptive technology: take self-driving cars for instance. If you were walking down the street today and saw a car passing by with no one behind the wheel, you would stop and stare. The technology is new and people are still coming to terms with the concept, but this is destined to change: one day, people will expect cars to be autonomous as the algorithms driving them will be more reliable than a human operator. One day, people will stop to stare at a car when they see it is being driven by a human." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "headline": "Embracing change", "text": "So is it behaviour that drives technological change or technological change that drives human behaviour? Whilst you could argue the case either way, it is hard to argue that there isn\u2019t a connection between behavioural shifts and technological growth. Firms that do not pro-actively strive to innovate and adopt new technological solutions will not hold back growing customer expectations: they will simply be left behind.\n\nA vital part of future proofing is understanding how customer behaviour and demand will shift. Without planning for this in advance, firms will be left scrambling to react to customer expectations as they continue to evolve. Get it right though and the opportunities are endless." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-technology-compliance-keeping-pace-spiralling-customer-expectations/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why do face-to-face meetings matter for compliance?", "acceptedAnswer": { "@type": "Answer", "text": "Face-to-face meetings can be central to important financial discussions but have historically been recorded less often than phone calls or written correspondence." } }, { "@type": "Question", "name": "How does recording meetings relate to customer expectations?", "acceptedAnswer": { "@type": "Answer", "text": "Customers may increasingly expect important conversations to be documented so they have a thorough record of what was discussed." } }, { "@type": "Question", "name": "What should firms do about changing expectations?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should understand how customer behaviour and demand are shifting and plan for technological solutions before they are forced to react." } } ] } ] } ``` ### Recordsure and TCC Founder Joanne Smith opens trading at London Stock Exchange - URL: https://recordsure.com/insights/news/recordsure-tcc-founder-joanne-smith-opens-trading-london-stock-exchange/ - Published: 2019-02-06 - Modified: 2026-10-09 **Topic:** London Stock Exchange Joanne Smith, Founder and Group CEO of Recordsure and TCC, was invited to open trading at the London Stock Exchange at an event hosted by Fast Growth Icons. #### Key points - Joanne Smith was invited to open trading at the London Stock Exchange. - The event was hosted by Fast Growth Icons to support founders of high-performing businesses. - Future Icons highlighted business leaders of the future and included more female founders than previous events. - Joanne Smith described the invitation as an honour and a privilege. Joanne Smith, Founder and Group CEO of Recordsure and TCC, was invited to open trading at the London Stock Exchange. Hosted by Fast Growth Icons, the event sought to support founders of leading high-performing businesses, featuring insights from some of the UK’s most successful entrepreneurs and focusing on creating and managing rapid growth. #### Future Icons event Future Icons Co-Founder Emily Holgate said: “Future Icons is all about celebrating the business leaders of the future and this year, we are proud to host more female founders than any previous Future Icons events.” She added: “Joanne and Recordsure & TCC have had some impressive results over the last few years, and her success should be inspiration for many other CEOs on a similar journey – especially the increasing number of female founders.” #### Joanne Smith’s reflection Commenting afterwards, Joanne reflected: “It was a real honour being asked to open trading at the London Stock Exchange. The event was a fantastic opportunity for like-minded entrepreneurs to share ideas. To have been included is a huge privilege and testament to the strides Recordsure and TCC have been taking in bringing compliance into the algorithm age.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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at the London Stock Exchange during Future Icons.", "inLanguage": "en-GB", "articleBody": "Joanne Smith, Founder and Group CEO of Recordsure and TCC, was invited to open trading at the London Stock Exchange at an event hosted by Fast Growth Icons.\n\nJoanne Smith, Founder and Group CEO of Recordsure and TCC, was invited to open trading at the London Stock Exchange.\n\nHosted by Fast Growth Icons, the event sought to support founders of leading high-performing businesses, featuring insights from some of the UK\u2019s most successful entrepreneurs and focusing on creating and managing rapid growth.\n\nFuture Icons event\n\nFuture Icons Co-Founder Emily Holgate said: \u201cFuture Icons is all about celebrating the business leaders of the future and this year, we are proud to host more female founders than any previous Future Icons events.\u201d\n\nShe added: \u201cJoanne and Recordsure & TCC have had some impressive results over the last few years, and her success should be inspiration for many other CEOs on a similar journey \u2013 especially the increasing number of female founders.\u201d\n\nJoanne Smith\u2019s reflection\n\nCommenting afterwards, Joanne reflected: \u201cIt was a real honour being asked to open trading at the London Stock Exchange. 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The event was a fantastic opportunity for like-minded entrepreneurs to share ideas. 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Simon Worgan explains how AI can help firms detect signs in conversations and direct customer care teams to the people most likely to need support. #### Key points - Vulnerability is not always permanent or binary; it can change with circumstances and personal attributes. - The UK scale is significant, including mental health, numeracy, age and dementia-related challenges. - AI can use facts, language and behavioural traits to flag customers who may need additional care. - Full interaction monitoring may affect future regulatory expectations as technology becomes more accessible. Speaking at Fintech North, Recordsure Head of Research Simon Worgan discussed how artificial intelligence will change the way firms support vulnerable customers, why this matters and how it could reshape the regulatory landscape. Identifying vulnerability is a major challenge for firms because customers can move in and out of vulnerable states, and because the signals may not be obvious in every interaction. #### Understanding consumer vulnerability The first point is that consumer vulnerability is not necessarily permanent or a binary classification. In finance, vulnerability is best viewed as an interpretation of the current status of a customer. Customers can fluctuate from not being vulnerable to being very vulnerable, temporarily or permanently. Vulnerability can arise from a wide range of personal attributes, including low literacy or numeracy skills, age, mental health, financial worries and broader changes in circumstances. #### The scale of the problem With such a broad definition, the scale of the issue is substantial. In the UK alone: - There are 11.4 million people suffering poor mental health. - Nearly half of all adults have a numeracy attainment age of 11 or below. - Over 1.4m people are aged 85 or over, a figure that will double in the next 20 years and treble in the next 30 years. - 1 in 4 adults experience at least one mental disorder in any given year. - There are over 800,000 people living with dementia, which will double over the next 40 years. The growing problem has caught the attention of firms and regulators. The FCA highlighted at the event that more needs to be done to support vulnerable customers and that technological solutions are central to this. Before firms can support the consumers most in need of assistance, they need to identify them. The scale of the issue means it is impossible to monitor all customers manually, but AI is beginning to offer new ways to see the bigger picture and direct support intelligently. #### How AI can help There are countless ways a consumer can express vulnerability, which makes detection through AI challenging. Technology can only make predictions based on what is revealed; stoicism and putting a brave face on a bad situation can limit the signs that even a human would notice. In many cases, however, there are signs that may indicate potential vulnerability. These can be divided into two broad categories: facts and support. Direct facts can themselves highlight a possible vulnerable state. For example, a recent divorce or medical condition could increase vulnerability risk. Indirect support may also indicate a possible vulnerable state, such as feeling lonely at the weekend or anxious about a particular event. Neither category guarantees that a customer is vulnerable. Either can be a sign, and the likelihood increases as more risks are triggered close together. Whether someone is vulnerable remains a human judgement, but AI can take customer care teams to the people most likely to need attention based on information provided, language used and behavioural traits during conversations. #### Transforming the regulatory landscape New technologies have the potential to change current practice. Manual review typically leaves firms struggling to review more than 5% of customer interactions. Through advanced AI, firms can review the full 100% to target areas such as customers showing signs of vulnerability. This could materially improve customer care. There is a 95% black hole in customer monitoring that can only be illuminated through technological innovation. Vulnerability is a growing challenge, and tools that can support consumers are becoming more capable. Regulators are watching these developments. Historically, regulated firms have not necessarily been expected to review all customer interactions because it was not practical for many organisations. As full monitoring of every customer touchpoint becomes more accessible, regulators such as the FCA are increasingly asking why firms are not using the tools available to support consumers. The benchmark is likely to rise across the board. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Simon Worgan explains how AI can help firms detect signs in conversations and direct customer care teams to the people most likely to need support.\n\nSpeaking at Fintech North, Recordsure Head of Research Simon Worgan discussed how artificial intelligence will change the way firms support vulnerable customers, why this matters and how it could reshape the regulatory landscape.\n\nIdentifying vulnerability is a major challenge for firms because customers can move in and out of vulnerable states, and because the signals may not be obvious in every interaction.\n\nUnderstanding consumer vulnerability\n\nThe first point is that consumer vulnerability is not necessarily permanent or a binary classification. In finance, vulnerability is best viewed as an interpretation of the current status of a customer.\n\nCustomers can fluctuate from not being vulnerable to being very vulnerable, temporarily or permanently. Vulnerability can arise from a wide range of personal attributes, including low literacy or numeracy skills, age, mental health, financial worries and broader changes in circumstances.\n\nThe scale of the problem\n\nWith such a broad definition, the scale of the issue is substantial. In the UK alone:\n\n\u2022 There are 11.4 million people suffering poor mental health.\n\u2022 Nearly half of all adults have a numeracy attainment age of 11 or below.\n\u2022 Over 1.4m people are aged 85 or over, a figure that will double in the next 20 years and treble in the next 30 years.\n\u2022 1 in 4 adults experience at least one mental disorder in any given year.\n\u2022 There are over 800,000 people living with dementia, which will double over the next 40 years.\n\nThe growing problem has caught the attention of firms and regulators. The FCA highlighted at the event that more needs to be done to support vulnerable customers and that technological solutions are central to this.\n\nBefore firms can support the consumers most in need of assistance, they need to identify them. The scale of the issue means it is impossible to monitor all customers manually, but AI is beginning to offer new ways to see the bigger picture and direct support intelligently.\n\nHow AI can help\n\nThere are countless ways a consumer can express vulnerability, which makes detection through AI challenging. Technology can only make predictions based on what is revealed; stoicism and putting a brave face on a bad situation can limit the signs that even a human would notice.\n\nIn many cases, however, there are signs that may indicate potential vulnerability. These can be divided into two broad categories: facts and support.\n\nDirect facts can themselves highlight a possible vulnerable state. For example, a recent divorce or medical condition could increase vulnerability risk. Indirect support may also indicate a possible vulnerable state, such as feeling lonely at the weekend or anxious about a particular event.\n\nNeither category guarantees that a customer is vulnerable. Either can be a sign, and the likelihood increases as more risks are triggered close together. Whether someone is vulnerable remains a human judgement, but AI can take customer care teams to the people most likely to need attention based on information provided, language used and behavioural traits during conversations.\n\nTransforming the regulatory landscape\n\nNew technologies have the potential to change current practice. Manual review typically leaves firms struggling to review more than 5% of customer interactions. Through advanced AI, firms can review the full 100% to target areas such as customers showing signs of vulnerability.\n\nThis could materially improve customer care. There is a 95% black hole in customer monitoring that can only be illuminated through technological innovation. Vulnerability is a growing challenge, and tools that can support consumers are becoming more capable.\n\nRegulators are watching these developments. Historically, regulated firms have not necessarily been expected to review all customer interactions because it was not practical for many organisations. As full monitoring of every customer touchpoint becomes more accessible, regulators such as the FCA are increasingly asking why firms are not using the tools available to support consumers. The benchmark is likely to rise across the board.", "wordCount": 681, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Vulnerable customers" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "text": "Speaking at Fintech North, Recordsure Head of Research Simon Worgan discussed how artificial intelligence will change the way firms support vulnerable customers, why this matters and how it could reshape the regulatory landscape.\n\nIdentifying vulnerability is a major challenge for firms because customers can move in and out of vulnerable states, and because the signals may not be obvious in every interaction." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Understanding consumer vulnerability", "text": "The first point is that consumer vulnerability is not necessarily permanent or a binary classification. In finance, vulnerability is best viewed as an interpretation of the current status of a customer.\n\nCustomers can fluctuate from not being vulnerable to being very vulnerable, temporarily or permanently. Vulnerability can arise from a wide range of personal attributes, including low literacy or numeracy skills, age, mental health, financial worries and broader changes in circumstances." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "The scale of the problem", "text": "With such a broad definition, the scale of the issue is substantial. In the UK alone:\n\n\u2022 There are 11.4 million people suffering poor mental health.\n\u2022 Nearly half of all adults have a numeracy attainment age of 11 or below.\n\u2022 Over 1.4m people are aged 85 or over, a figure that will double in the next 20 years and treble in the next 30 years.\n\u2022 1 in 4 adults experience at least one mental disorder in any given year.\n\u2022 There are over 800,000 people living with dementia, which will double over the next 40 years.\n\nThe growing problem has caught the attention of firms and regulators. The FCA highlighted at the event that more needs to be done to support vulnerable customers and that technological solutions are central to this.\n\nBefore firms can support the consumers most in need of assistance, they need to identify them. The scale of the issue means it is impossible to monitor all customers manually, but AI is beginning to offer new ways to see the bigger picture and direct support intelligently." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "How AI can help", "text": "There are countless ways a consumer can express vulnerability, which makes detection through AI challenging. Technology can only make predictions based on what is revealed; stoicism and putting a brave face on a bad situation can limit the signs that even a human would notice.\n\nIn many cases, however, there are signs that may indicate potential vulnerability. These can be divided into two broad categories: facts and support.\n\nDirect facts can themselves highlight a possible vulnerable state. For example, a recent divorce or medical condition could increase vulnerability risk. Indirect support may also indicate a possible vulnerable state, such as feeling lonely at the weekend or anxious about a particular event.\n\nNeither category guarantees that a customer is vulnerable. Either can be a sign, and the likelihood increases as more risks are triggered close together. Whether someone is vulnerable remains a human judgement, but AI can take customer care teams to the people most likely to need attention based on information provided, language used and behavioural traits during conversations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "headline": "Transforming the regulatory landscape", "text": "New technologies have the potential to change current practice. Manual review typically leaves firms struggling to review more than 5% of customer interactions. Through advanced AI, firms can review the full 100% to target areas such as customers showing signs of vulnerability.\n\nThis could materially improve customer care. There is a 95% black hole in customer monitoring that can only be illuminated through technological innovation. Vulnerability is a growing challenge, and tools that can support consumers are becoming more capable.\n\nRegulators are watching these developments. Historically, regulated firms have not necessarily been expected to review all customer interactions because it was not practical for many organisations. As full monitoring of every customer touchpoint becomes more accessible, regulators such as the FCA are increasingly asking why firms are not using the tools available to support consumers. The benchmark is likely to rise across the board." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-ai-help-support-vulnerable-customers/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Is customer vulnerability always permanent?", "acceptedAnswer": { "@type": "Answer", "text": "No. Vulnerability can be temporary or permanent and should be viewed as an interpretation of a customer\u2019s current status." } }, { "@type": "Question", "name": "What kinds of factors can contribute to vulnerability?", "acceptedAnswer": { "@type": "Answer", "text": "Factors include low literacy or numeracy skills, age, mental health, financial worries and general changes in circumstances." } }, { "@type": "Question", "name": "How can AI support customer care teams?", "acceptedAnswer": { "@type": "Answer", "text": "AI can help identify customers most likely to need attention by combining information provided, language used and behavioural traits during conversations." } }, { "@type": "Question", "name": "Why might regulatory expectations change?", "acceptedAnswer": { "@type": "Answer", "text": "As full monitoring of customer touchpoints becomes more accessible, regulators may increasingly expect firms to use available tools to support consumers." } } ] } ] } ``` ### Recordsure appoints new CEO as the group reaches for new heights - URL: https://recordsure.com/insights/news/recordsure-appoints-new-ceo-group-reaches-new-heights/ - Published: 2018-10-30 - Modified: 2026-10-09 **Topic:** CEO appointments Recordsure announced Joe Norburn as CEO. Sister company TCC named Mike Park as CEO, with founder Joanne Smith taking the central Group CEO role. #### Key points - Joe Norburn was appointed CEO of Recordsure. - Mike Park was named CEO of TCC and retained his Group CFO position. - Joanne Smith took the central role of Group CEO. - The changes reflect growing momentum and international expansion across the group. Recordsure announced the appointment of Joe Norburn as CEO. The development came as sister company TCC also named Mike Park as CEO, with founder Joanne Smith taking the central position of Group CEO. The leadership changes reflect growing momentum across the group, with Recordsure growing in influence as a RegTech analytics and automation platform while expanding its international presence. #### Group leadership changes Commenting on the appointments, Joanne Smith said it was an exciting time for the group, with both companies building greatly over the last year. She said Mike and Joe had the skills, vision and energy to fulfil the group’s future growth expectations and that she was delighted to have them both on board. Joe joins Recordsure with an in-depth understanding of the solution and company after recent strategic advisory work for the organisation. He brings substantial financial services experience from early and growth-stage companies and from Coutts, where, as Managing Director, his responsibilities included Digital, Innovation, Business Development, Client Experience and Learning and Development. #### Recordsure and TCC outlook Joe said Recordsure was at an inflection point: the company had made the market it operates in and now needed to build on its early momentum. He said the solution is unique and the company is well placed to establish itself as a global leader in recordings and records analytics. At TCC, Mike already had first-hand understanding of the business from his experience as Group CFO, a position he would also keep. Reflecting on his new role, he said TCC was long established as one of the UK’s leading independent financial compliance specialists and was in a transformational period as it embraced new technologies to further support clients. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Sister company TCC named Mike Park as CEO, with founder Joanne Smith taking the central Group CEO role.\n\nRecordsure announced the appointment of Joe Norburn as CEO. The development came as sister company TCC also named Mike Park as CEO, with founder Joanne Smith taking the central position of Group CEO.\n\nThe leadership changes reflect growing momentum across the group, with Recordsure growing in influence as a RegTech analytics and automation platform while expanding its international presence.\n\nGroup leadership changes\n\nCommenting on the appointments, Joanne Smith said it was an exciting time for the group, with both companies building greatly over the last year. She said Mike and Joe had the skills, vision and energy to fulfil the group\u2019s future growth expectations and that she was delighted to have them both on board.\n\nJoe joins Recordsure with an in-depth understanding of the solution and company after recent strategic advisory work for the organisation. 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The annual guide recognises influential companies and personalities shaping the Fintech industry. #### Key points - Recordsure was named in the Fintech Power 50. - The guide recognises influential companies and personalities in Fintech. - Its inaugural year focused on collaboration and transforming financial services. **We are thrilled to reveal that Recordsure has been named in the Fintech Power 50!** The Fintech Power 50 is an annual guide to the most influential and innovative companies and visionary personalities shaping the Fintech industry. In its inaugural year, the Fintech Power 50 represents a platform for like-minded organisations to collaborate and play leading roles in transforming financial services for the better. Recordsure Founder and CEO Joanne Smith said: “We are delighted and flattered to be counted alongside such a strong group of influential leaders operating in the Fintech space: I would like to extend a huge thank you to everyone that voted for us, as well as to the Recordsure team who have worked so hard to get us where we are today!” The full list can be found here on the [Power 50](https://www.thepower50.com/fintech-power-50/) website. #### Supporting sources - [Power 50](https://www.thepower50.com/fintech-power-50/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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In its inaugural year, the Fintech Power 50 represents a platform for like-minded organisations to collaborate and play leading roles in transforming financial services for the better.\n\nRecordsure Founder and CEO Joanne Smith said:\n\n\u201cWe are delighted and flattered to be counted alongside such a strong group of influential leaders operating in the Fintech space: I would like to extend a huge thank you to everyone that voted for us, as well as to the Recordsure team who have worked so hard to get us where we are today!\u201d\n\nThe full list can be found here on the Power 50 website." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-voted-fintech-power-50/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-voted-fintech-power-50/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What recognition did Recordsure receive?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was named in the Fintech Power 50." } }, { "@type": "Question", "name": "What is the Fintech Power 50?", "acceptedAnswer": { "@type": "Answer", "text": "It is an annual guide to influential and innovative companies and personalities shaping the Fintech industry." } }, { "@type": "Question", "name": "Who commented on the recognition?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure Founder and CEO Joanne Smith thanked voters and the Recordsure team." } } ] } ] } ``` ### Recordsure named in the Fintech100 as one of the world’s leading Fintech innovators - URL: https://recordsure.com/insights/news/recordsure-named-fintech100-one-worlds-leading-fintech-innovators/ - Published: 2018-10-23 - Modified: 2026-10-09 **Topic:** Fintech recognition Recordsure was named as an Emerging Star in the Fintech100, a list created by H2 Ventures and KPMG to recognise leading global fintech innovators. #### Key points - H2 Ventures and KPMG reviewed more than 1000 organisations for the Fintech100. - Recordsure was selected among the list’s 50 Emerging Stars. - Founder and CEO Joanne Smith said the recognition came as Recordsure expanded internationally. **We are delighted to announce that Recordsure has been selected as one of the Emerging Stars in the Fintech100!** The Fintech100 is a collaboration between H2 Ventures and KPMG to list the world’s leading fintech innovators. More than 1000 organisations across the world were reviewed to identify the leading 100 fintech companies globally. #### Emerging Star recognition The list is split between 50 Established Innovators and the 50 most intriguing Emerging Stars, with Recordsure selected in the latter group. Commenting on the accolade, Recordsure Founder and CEO Joanne Smith said: “It is a tremendous honour to be recognised in the Fintech100 as one of the world’s leading fintech organisations. To be picked as an Emerging Star is fantastic and comes at an exciting time for the organisation as we continue to expand our international presence.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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The showcase focused on analytics and automation for customer interaction data. #### Key points - Hilary Benn toured Recordsure’s Leeds offices to learn about AI capabilities. - The visit followed the House of Lords AI in the UK report. - Recordsure demonstrated analytics and automation tools for customer interaction data. - The platform was first developed for financial services and has also been effective in government settings. Hilary Benn, Labour MP and Chair of the Brexit Select Committee, visited Recordsure’s offices in Leeds, his local constituency, to gain a deeper understanding of artificial intelligence capabilities and the value they can provide for the UK economy. With the value of AI highlighted in the House of Lords [*AI in the UK: ready, willing and able?*](https://publications.parliament.uk/pa/ld201719/ldselect/ldai/100/100.pdf) report earlier in the year, and Brexit drawing closer, the tour provided an opportunity to explore the types of solution that could help drive UK productivity. #### AI analytics and automation The showcase put the spotlight on Recordsure’s AI analytics and automation tools, which help organisations collect, process and draw actionable insights from customer interaction data ranging from meeting recordings to written correspondence. Originally developed for the finance sector with the goal of improving performance, culture and regulatory compliance in the wake of the financial crisis, the platform has proved effective in other environments including government departments. In those settings, it has dramatically reduced the time required to complete case work from weeks to hours. Speaking after his visit, Mr Benn said: “It was really interesting to hear about the way Recordsure is using innovative AI to help businesses in the public and private sectors”. Joanne Smith, Recordsure Founder and CEO, responded: “we have always really valued our location in Leeds: it is a focal point for digital activity, which twinned with local financial services has led to a thriving FinTech community. It’s brilliant that Hilary Benn is so engaged with this and eager to keep his finger on the pulse as new technologies emerge.” #### Supporting sources - [House of Lords: AI in the UK: ready, willing and able?](https://publications.parliament.uk/pa/ld201719/ldselect/ldai/100/100.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Hilary Benn visits Recordsure for showcase of Leeds-based AI innovation", "item": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#webpage", "url": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/", "name": "Hilary Benn visits Recordsure for showcase of Leeds-based AI innovation", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-10-22T07:45:18+01:00", "dateModified": "2023-06-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-06-23" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Hilary Benn visits Recordsure for showcase of Leeds-based AI innovation", "datePublished": "2018-10-22T07:45:18+01:00", "dateModified": "2026-10-09T04:50:28+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/hilary-benn-visits-recordsure-showcase-leeds-based-ai-innovation/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/d1b4d248afb04756a613f714fbc42389/thumbnail-1024-f1b71c3751f3b0e828ae51a1c9607cda409e697705011b1d9428238b81360b5d.jpg", "description": "Hilary Benn visited Recordsure\u2019s Leeds offices to learn how AI analytics and automation can support productivity across public and private-sector organisations.", "inLanguage": "en-GB", "articleBody": "Hilary Benn visited Recordsure\u2019s Leeds offices to understand AI capabilities and their value for the UK economy. The showcase focused on analytics and automation for customer interaction data.\n\nHilary Benn, Labour MP and Chair of the Brexit Select Committee, visited Recordsure\u2019s offices in Leeds, his local constituency, to gain a deeper understanding of artificial intelligence capabilities and the value they can provide for the UK economy.\n\nWith the value of AI highlighted in the House of Lords AI in the UK: ready, willing and able? report earlier in the year, and Brexit drawing closer, the tour provided an opportunity to explore the types of solution that could help drive UK productivity.\n\nAI analytics and automation\n\nThe showcase put the spotlight on Recordsure\u2019s AI analytics and automation tools, which help organisations collect, process and draw actionable insights from customer interaction data ranging from meeting recordings to written correspondence.\n\nOriginally developed for the finance sector with the goal of improving performance, culture and regulatory compliance in the wake of the financial crisis, the platform has proved effective in other environments including government departments. 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In those settings, it has dramatically reduced the time required to complete case work from weeks to hours.\n\nSpeaking after his visit, Mr Benn said: \u201cIt was really interesting to hear about the way Recordsure is using innovative AI to help businesses in the public and private sectors\u201d.\n\nJoanne Smith, Recordsure Founder and CEO, responded: \u201cwe have always really valued our location in Leeds: it is a focal point for digital activity, which twinned with local financial services has led to a thriving FinTech community. 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In financial services, they can reduce administration and improve review coverage. #### Key points - AI and automation can be understood alongside the Industrial Revolution and later computer adoption. - Automation can reduce labour-intensive administration and data handling. - In financial services, analysts may spend up to 90% of time on administrative tasks. - AI can help skilled staff review more cases and improve conduct risk oversight. At the dawn of 1760, an 80-year revolution was beginning. Economists regard the Industrial Revolution as one of the most important events in history, as the UK waved goodbye to the agricultural age and the new generation of machinery created more output and wealth than ever before. Steam ahead to the 1980s, the exponential increase in computer use and the collapse of world markets. History is allowed to repeat itself again in 2007, but the increasing sophistication of artificial intelligence (AI) and robotics begins to spark the imagination as the next stage of societal development. Looking at the impact these technologies have had on the world of work and you’ll agree that automation is new. AI and machine learning have become 21st century buzzwords and are developing a reputation for a reason. Businesses are using robotics to drive increasingly important efficiencies while machine learning is employed to optimise processes and gather data. But it’s also, arguably, the next logical step in our evolution. Throughout our history, humans have always sought out tools to make life easier and enable us to achieve more. This profound change is reminiscent of 1800. #### How technology shapes our working lives New technology shapes our working practices, often in unexpected or unforeseen ways. The scaremongering and fear that robots would put everyone out of work was rife in the early stages of AI’s integration into our working lives. Now this technology has become more commonplace, we have seen that large-scale job losses are not in our futures as a result of AI implementation. Instead, we have seen the new technology increase efficiencies by automating previously labour-intensive tasks such as basic administration and data handling. In the financial services industry, an analyst can spend up to 90% of their time performing such tasks rather than using their specific skill set. This means only a very small sample of cases can be reviewed in a fixed period, so for activities such as first line checking, this leaves firms open to greater risk of mis-selling or poor customer outcomes. But with the smart application of AI and robotics, firms can now take away much of this administrative burden, enabling skilled staff to deploy their expertise more effectively to reduce review times. The hours returned to the business as a result can be used to check a greater volume of cases to improve oversight and conduct risk management. There has also been a recent shift in the way businesses judge the prestige of a team or organisation. Previously, size mattered but this has now shifted to a greater appreciation of the efficiency of each team member. Our experience shows that automation and AI can help your teams achieve greater efficiency and put their valuable skillset to good use. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The dawn of AI: evolution or revolution?", "item": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/", "name": "The dawn of AI: evolution or revolution?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-10-08T11:15:48+01:00", "dateModified": "2018-10-08T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2018-10-08" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The dawn of AI: evolution or revolution?", "datePublished": "2018-10-08T11:15:48+01:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/aa631ac68373406fb8fde846becac11c/thumbnail-1024-de7e1968ae7113f2e42e8d1b9756d937b0783a1639f4cac46cfdf7924b6034a5.jpg", "description": "AI and automation can reshape work by reducing administrative burden, improving review coverage and helping skilled teams focus on conduct risk oversight.", "inLanguage": "en-GB", "articleBody": "AI and automation are framed as both a significant change and a continuation of how humans use tools to work more effectively. In financial services, they can reduce administration and improve review coverage.\n\nAt the dawn of 1760, an 80-year revolution was beginning. Economists regard the Industrial Revolution as one of the most important events in history, as the UK waved goodbye to the agricultural age and the new generation of machinery created more output and wealth than ever before.\n\nSteam ahead to the 1980s, the exponential increase in computer use and the collapse of world markets. History is allowed to repeat itself again in 2007, but the increasing sophistication of artificial intelligence (AI) and robotics begins to spark the imagination as the next stage of societal development. Looking at the impact these technologies have had on the world of work and you\u2019ll agree that automation is new.\n\nAI and machine learning have become 21st century buzzwords and are developing a reputation for a reason. Businesses are using robotics to drive increasingly important efficiencies while machine learning is employed to optimise processes and gather data. But it\u2019s also, arguably, the next logical step in our evolution. Throughout our history, humans have always sought out tools to make life easier and enable us to achieve more. This profound change is reminiscent of 1800.\n\nHow technology shapes our working lives\n\nNew technology shapes our working practices, often in unexpected or unforeseen ways. The scaremongering and fear that robots would put everyone out of work was rife in the early stages of AI\u2019s integration into our working lives. Now this technology has become more commonplace, we have seen that large-scale job losses are not in our futures as a result of AI implementation.\n\nInstead, we have seen the new technology increase efficiencies by automating previously labour-intensive tasks such as basic administration and data handling. In the financial services industry, an analyst can spend up to 90% of their time performing such tasks rather than using their specific skill set. This means only a very small sample of cases can be reviewed in a fixed period, so for activities such as first line checking, this leaves firms open to greater risk of mis-selling or poor customer outcomes.\n\nBut with the smart application of AI and robotics, firms can now take away much of this administrative burden, enabling skilled staff to deploy their expertise more effectively to reduce review times. The hours returned to the business as a result can be used to check a greater volume of cases to improve oversight and conduct risk management.\n\nThere has also been a recent shift in the way businesses judge the prestige of a team or organisation. Previously, size mattered but this has now shifted to a greater appreciation of the efficiency of each team member. Our experience shows that automation and AI can help your teams achieve greater efficiency and put their valuable skillset to good use.", "wordCount": 491, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI and automation" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage" }, "inLanguage": "en-GB", "text": "At the dawn of 1760, an 80-year revolution was beginning. Economists regard the Industrial Revolution as one of the most important events in history, as the UK waved goodbye to the agricultural age and the new generation of machinery created more output and wealth than ever before.\n\nSteam ahead to the 1980s, the exponential increase in computer use and the collapse of world markets. History is allowed to repeat itself again in 2007, but the increasing sophistication of artificial intelligence (AI) and robotics begins to spark the imagination as the next stage of societal development. Looking at the impact these technologies have had on the world of work and you\u2019ll agree that automation is new.\n\nAI and machine learning have become 21st century buzzwords and are developing a reputation for a reason. Businesses are using robotics to drive increasingly important efficiencies while machine learning is employed to optimise processes and gather data. But it\u2019s also, arguably, the next logical step in our evolution. Throughout our history, humans have always sought out tools to make life easier and enable us to achieve more. This profound change is reminiscent of 1800." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage" }, "inLanguage": "en-GB", "headline": "How technology shapes our working lives", "text": "New technology shapes our working practices, often in unexpected or unforeseen ways. The scaremongering and fear that robots would put everyone out of work was rife in the early stages of AI\u2019s integration into our working lives. 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The hours returned to the business as a result can be used to check a greater volume of cases to improve oversight and conduct risk management.\n\nThere has also been a recent shift in the way businesses judge the prestige of a team or organisation. Previously, size mattered but this has now shifted to a greater appreciation of the efficiency of each team member. Our experience shows that automation and AI can help your teams achieve greater efficiency and put their valuable skillset to good use." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/dawn-ai-evolution-revolution/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How does AI compare with earlier industrial change?", "acceptedAnswer": { "@type": "Answer", "text": "AI and robotics continue a long pattern of technology changing working life, from the Industrial Revolution through computer adoption and later automation." } }, { "@type": "Question", "name": "What administrative problem does AI address in financial services?", "acceptedAnswer": { "@type": "Answer", "text": "Analysts can spend up to 90% of their time on basic administration and data handling rather than specialist work." } }, { "@type": "Question", "name": "How can automation improve oversight?", "acceptedAnswer": { "@type": "Answer", "text": "By reducing administrative burden, automation can give skilled staff more time to review more cases and support conduct risk management." } } ] } ] } ``` ### Recordsure joins forces with KPMG for trade mission to Australia - URL: https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/ - Published: 2018-08-29 - Modified: 2026-10-09 **Topic:** Australia mission Recordsure worked with KPMG on an Australian trade mission focused on RegTech and FinTech innovation. Australia’s Royal Commission review and comparable UK conduct scrutiny show the operational challenges facing firms. #### Key points - Recordsure worked with KPMG to raise awareness of RegTech and FinTech innovation in Australia. - Australia’s Royal Commission reviewed banking and financial services conduct, culture and transparency. - Australia’s review has parallels with UK financial sector scrutiny and customer care reforms. - Australian firms face process, culture and scalability challenges as they adapt. - The trade mission focused on Sydney and Melbourne and ended on September 3rd. **Recordsure worked alongside KPMG on an international trade mission to help raise awareness in the Australian financial sector of the innovation that RegTech and FinTech technologies can provide.** Australia had recently been through the [Royal Commission](https://financialservices.royalcommission.gov.au/Pages/default.html) review into the banking and financial services industry. The review sought to improve conduct, culture and transparency, and to retrospectively address the position of customers who had been historically mistreated. #### Shared conduct and culture challenges There is a strong degree of overlap with the UK financial sector, which had faced comparable scrutiny in recent years with similar outcomes focused on conduct risk and customer care. As in the UK, Australian financial firms faced the challenge of changing internal processes to make them compliant, driving cultural change within organisations and finding scalable ways to do this efficiently. #### Response from the Australian tour Speaking from Sydney, Joanne Smith, Recordsure Founder and CEO, reflected on the positive response to the tour. She said firms were approaching the new challenges with enthusiasm, that lessons had been learned from UK organisations on a similar journey, and that there was a drive to find RegTech solutions that could support customers by improving performance and culture. The trade mission focused on Sydney and Melbourne and drew to a close on September 3rd. #### Supporting sources - [Royal Commission](https://financialservices.royalcommission.gov.au/Pages/default.html) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Australia\u2019s Royal Commission review and comparable UK conduct scrutiny show the operational challenges facing firms.\n\nRecordsure worked alongside KPMG on an international trade mission to help raise awareness in the Australian financial sector of the innovation that RegTech and FinTech technologies can provide.\n\nAustralia had recently been through the Royal Commission review into the banking and financial services industry. 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She said firms were approaching the new challenges with enthusiasm, that lessons had been learned from UK organisations on a similar journey, and that there was a drive to find RegTech solutions that could support customers by improving performance and culture.\n\nThe trade mission focused on Sydney and Melbourne and drew to a close on September 3rd.", "wordCount": 241, "keywords": [ "Banking", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Australia mission" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#analysis-2" }, { "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#analysis-3" } ], "citation": [ { "@type": "CreativeWork", "name": "Royal Commission", "url": "https://financialservices.royalcommission.gov.au/Pages/default.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure worked alongside KPMG on an international trade mission to help raise awareness in the Australian financial sector of the innovation that RegTech and FinTech technologies can provide.\n\nAustralia had recently been through the Royal Commission review into the banking and financial services industry. 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She said firms were approaching the new challenges with enthusiasm, that lessons had been learned from UK organisations on a similar journey, and that there was a drive to find RegTech solutions that could support customers by improving performance and culture.\n\nThe trade mission focused on Sydney and Melbourne and drew to a close on September 3rd." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-joins-forces-kpmg-trade-mission-australia/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who did Recordsure work with on the Australian trade mission?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure worked alongside KPMG." } }, { "@type": "Question", "name": "What did Australia\u2019s Royal Commission review focus on?", "acceptedAnswer": { "@type": "Answer", "text": "It focused on conduct, culture and transparency in the banking and financial services industry, and on righting the position of historically mistreated customers." } }, { "@type": "Question", "name": "Which cities did the trade mission focus on?", "acceptedAnswer": { "@type": "Answer", "text": "The trade mission focused on Sydney and Melbourne." } } ] } ] } ``` ### Recordsure nominated for Fintech Power 50! - URL: https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/ - Published: 2018-08-02 - Modified: 2026-10-09 **Topic:** Fintech nomination Recordsure was nominated for the Fintech Power 50, which combines a global fintech list with a community built to connect businesses shaping the sector. #### Key points - Recordsure was nominated for the Fintech Power 50. - The list recognises influential and up-and-coming fintech businesses around the world. - The final list was to be selected by the creators and partners using several criteria. Recordsure was nominated for the [Fintech Power 50](https://www.thepower50.com/), which is not just a list of the most influential and up-and-coming fintech businesses around the world but a global community striving to help each other shape the future world of fintech. Following the voting process, the creators and partners of the Fintech Power 50 list were to work together and select just 50 businesses for the final 2018 list. #### How the list was selected The process was expected to rely on a variety of criteria, considering not only businesses with the most votes but also those showing innovative flair and creativity. Founded earlier in 2018, the Fintech Power 50 was driven by Jason Williams, aiming to make a difference in the fintech industry. Jason explained: “Together we are building the Fintech Power 50 as a collaborative hub connecting the best talent in the industry, no matter how big or small the business.” #### Supporting sources - [Fintech Power 50](https://www.thepower50.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure nominated for Fintech Power 50!", "item": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage", "url": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/", "name": "Recordsure nominated for Fintech Power 50!", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-08-02T10:41:38+01:00", "dateModified": "2023-06-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-06-23" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure nominated for Fintech Power 50!", "datePublished": "2018-08-02T10:41:38+01:00", "dateModified": "2026-10-09T04:50:33+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/3f87e8d240e54a58b54e5e2f258a1c45/thumbnail-1024-975693a94d5ce435b160923fe9ba11880bb5cf098ee44ec68dca2c3d4a20a784.jpg", "description": "Recordsure was nominated for the Fintech Power 50, a global community and list recognising influential and up-and-coming fintech businesses.", "inLanguage": "en-GB", "articleBody": "Recordsure was nominated for the Fintech Power 50, which combines a global fintech list with a community built to connect businesses shaping the sector.\n\nRecordsure was nominated for the Fintech Power 50, which is not just a list of the most influential and up-and-coming fintech businesses around the world but a global community striving to help each other shape the future world of fintech.\n\nFollowing the voting process, the creators and partners of the Fintech Power 50 list were to work together and select just 50 businesses for the final 2018 list.\n\nHow the list was selected\n\nThe process was expected to rely on a variety of criteria, considering not only businesses with the most votes but also those showing innovative flair and creativity.\n\nFounded earlier in 2018, the Fintech Power 50 was driven by Jason Williams, aiming to make a difference in the fintech industry. Jason explained: \u201cTogether we are building the Fintech Power 50 as a collaborative hub connecting the best talent in the industry, no matter how big or small the business.\u201d", "wordCount": 175, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Fintech nomination" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#analysis-1" }, { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#analysis-2" } ], "citation": [ { "@type": "CreativeWork", "name": "Fintech Power 50", "url": "https://www.thepower50.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure was nominated for the Fintech Power 50, which is not just a list of the most influential and up-and-coming fintech businesses around the world but a global community striving to help each other shape the future world of fintech.\n\nFollowing the voting process, the creators and partners of the Fintech Power 50 list were to work together and select just 50 businesses for the final 2018 list." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage" }, "inLanguage": "en-GB", "headline": "How the list was selected", "text": "The process was expected to rely on a variety of criteria, considering not only businesses with the most votes but also those showing innovative flair and creativity.\n\nFounded earlier in 2018, the Fintech Power 50 was driven by Jason Williams, aiming to make a difference in the fintech industry. Jason explained: \u201cTogether we are building the Fintech Power 50 as a collaborative hub connecting the best talent in the industry, no matter how big or small the business.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/recordsure-nominated-fintech-power-50/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What was Recordsure nominated for?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was nominated for the Fintech Power 50." } }, { "@type": "Question", "name": "What does the Fintech Power 50 recognise?", "acceptedAnswer": { "@type": "Answer", "text": "It recognises influential and up-and-coming fintech businesses around the world and operates as a global fintech community." } }, { "@type": "Question", "name": "How was the final list to be chosen?", "acceptedAnswer": { "@type": "Answer", "text": "The creators and partners were to select 50 businesses using criteria including votes, innovative flair and creativity." } } ] } ] } ``` ### How to prepare your team for new voice analytics and automation implementation - URL: https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/ - Published: 2018-07-26 - Modified: 2026-10-09 **Topic:** Automation adoption Introducing automation successfully means addressing staff concerns, focusing technology on supportive tasks, communicating clearly and piloting with small teams before wider rollout. #### Key points - Staff may fear automation because of the myth that robots will steal jobs. - AI is best suited to repetitive, structured tasks rather than multi-faceted human understanding. - McKinsey predicted that 60% of current jobs will have 30% of activity automated. - Recordsure’s experience suggests analysts may spend up to 80% of their time organising and sifting data. - Leaders should communicate openly, pilot with a sample and use feedback before wider rollout. **We sit down with Mark Braddock, Chief Operations Officer at Recordsure, to learn about smoothly bringing new AI technology into the office without alienating members of the team** Let’s face it: when it comes to bringing in automation to an organisation, there is an elephant in the room, namely the fear that robots are going to steal jobs. It is a common concern rife with myths that need to be debunked. All too often, planning is focused on technical implementation. As a rule though, adapting technical infrastructure is easier than adapting culture, and supporting staff within the organisation through change is absolutely crucial. #### What jobs do robots like doing? It is important to consider the kind of tasks that can be automated. AI lacks the multi-faceted understanding of the human brain and instead thrives in environments that are repetitive and highly structured. Whilst some low skilled jobs have the potential to be fully automated, in most cases, it will be more of a case of individual tasks within a wider role being replaced by AI solutions, with McKinsey & Company predicting that [60% of current jobs will have 30% of activity automated](https://www.mckinsey.com/featured-insights/digital-disruption/whats-now-and-next-in-analytics-ai-and-automation#section). This is an important distinction: in most cases, technology isn’t replacing roles but helping to lighten the workload. And what elements of the workload? Typically the mundane admin tasks that people find tedious. From our experience working with data analysts, we are finding up to 80% of people’s time is spent organising and sifting through data. Recordsure’s speech analytics tools enable the automation of this part of the process though, which is transformational: rather than randomly sampling a tiny percentage of audio files, analysts can now review 100% of them by cutting out the bulk of the admin. This then means they can spend most of their day focusing their energy on the areas they can shine and bring their skills to bear. #### Communicate From our experience, the reaction to this is overwhelmingly positive once staff realise they have been handed a tool that enables them to become more effective and focus increased time on the more rewarding aspects of their role. For instance, give sales teams voice analytics tools which free up more time to spend with customers whilst drawing new insights that help them improve their pitch and you can expect to see smiles on faces. It is important to be open with staff from the outset: keep everyone in the loop, make it clear how technology is being brought in to support existing processes, explain how it fits within the wider business strategy and make sure everyone understands the benefits to them specifically. Create an open environment where those involved know what is happening and feel comfortable asking questions. #### Pilot with a sample It’s generally best practice to pilot implementation of any new initiative with a small sample before wider rollouts across the department or organisation. When considering who to involve in a pilot, try and focus on members of the team who are enthusiastic, pro-active and open to innovative thinking. It’s important that this is a two-way conversation: ask for feedback, and make sure that responses are taken into consideration. Being part of a bigger project and seeing the value that contributions are having are great ways to strengthen a team and increase the number of people that share the wider vision. This will in turn help create a genuine and organic momentum within the business as roll out begins. Keep good communication throughout and make sure updates are shared and discussed at team meetings. Prevent fear of the unknown through familiarity and discussion, and instead grow a culture of excitement as the benefits are embraced. Ultimately, I’m a firm believer that an organisation is only as strong as the people that make it. Technology doesn’t change this: it simply creates new tools to help make those people more and effective. #### Supporting sources - [McKinsey: What’s now and next in analytics, AI and automation](https://www.mckinsey.com/featured-insights/digital-disruption/whats-now-and-next-in-analytics-ai-and-automation#section) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How to prepare your team for new voice analytics and automation implementation", "item": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/", "name": "How to prepare your team for new voice analytics and automation implementation", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-07-26T11:40:14+01:00", "dateModified": "2018-07-26T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2018-07-26" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How to prepare your team for new voice analytics and automation implementation", "datePublished": "2018-07-26T11:40:14+01:00", "dateModified": "2026-10-09T04:50:18+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5be0f35236a74060afa591688210dc83/thumbnail-1024-91636e5fa88b8913afc0f1090c397e7f3e85f02fce49502a2fd94727d23d02fe.jpg", "description": "Recordsure\u2019s Mark Braddock explains how leaders can introduce voice analytics and automation by focusing on tasks, communication and pilot teams.", "inLanguage": "en-GB", "articleBody": "Introducing automation successfully means addressing staff concerns, focusing technology on supportive tasks, communicating clearly and piloting with small teams before wider rollout.\n\nWe sit down with Mark Braddock, Chief Operations Officer at Recordsure, to learn about smoothly bringing new AI technology into the office without alienating members of the team\n\nLet\u2019s face it: when it comes to bringing in automation to an organisation, there is an elephant in the room, namely the fear that robots are going to steal jobs. It is a common concern rife with myths that need to be debunked.\n\nAll too often, planning is focused on technical implementation. As a rule though, adapting technical infrastructure is easier than adapting culture, and supporting staff within the organisation through change is absolutely crucial.\n\nWhat jobs do robots like doing?\n\nIt is important to consider the kind of tasks that can be automated. AI lacks the multi-faceted understanding of the human brain and instead thrives in environments that are repetitive and highly structured. Whilst some low skilled jobs have the potential to be fully automated, in most cases, it will be more of a case of individual tasks within a wider role being replaced by AI solutions, with McKinsey & Company predicting that 60% of current jobs will have 30% of activity automated.\n\nThis is an important distinction: in most cases, technology isn\u2019t replacing roles but helping to lighten the workload. And what elements of the workload? Typically the mundane admin tasks that people find tedious.\n\nFrom our experience working with data analysts, we are finding up to 80% of people\u2019s time is spent organising and sifting through data. Recordsure\u2019s speech analytics tools enable the automation of this part of the process though, which is transformational: rather than randomly sampling a tiny percentage of audio files, analysts can now review 100% of them by cutting out the bulk of the admin. This then means they can spend most of their day focusing their energy on the areas they can shine and bring their skills to bear.\n\nCommunicate\n\nFrom our experience, the reaction to this is overwhelmingly positive once staff realise they have been handed a tool that enables them to become more effective and focus increased time on the more rewarding aspects of their role. For instance, give sales teams voice analytics tools which free up more time to spend with customers whilst drawing new insights that help them improve their pitch and you can expect to see smiles on faces.\n\nIt is important to be open with staff from the outset: keep everyone in the loop, make it clear how technology is being brought in to support existing processes, explain how it fits within the wider business strategy and make sure everyone understands the benefits to them specifically. Create an open environment where those involved know what is happening and feel comfortable asking questions.\n\nPilot with a sample\n\nIt\u2019s generally best practice to pilot implementation of any new initiative with a small sample before wider rollouts across the department or organisation. 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Technology doesn\u2019t change this: it simply creates new tools to help make those people more and effective.", "wordCount": 669, "keywords": [ "Government", "Utilities" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Automation adoption" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Utilities" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "McKinsey: What\u2019s now and next in analytics, AI and automation", "url": "https://www.mckinsey.com/featured-insights/digital-disruption/whats-now-and-next-in-analytics-ai-and-automation#section" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "inLanguage": "en-GB", "text": "We sit down with Mark Braddock, Chief Operations Officer at Recordsure, to learn about smoothly bringing new AI technology into the office without alienating members of the team\n\nLet\u2019s face it: when it comes to bringing in automation to an organisation, there is an elephant in the room, namely the fear that robots are going to steal jobs. It is a common concern rife with myths that need to be debunked.\n\nAll too often, planning is focused on technical implementation. As a rule though, adapting technical infrastructure is easier than adapting culture, and supporting staff within the organisation through change is absolutely crucial." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "inLanguage": "en-GB", "headline": "What jobs do robots like doing?", "text": "It is important to consider the kind of tasks that can be automated. AI lacks the multi-faceted understanding of the human brain and instead thrives in environments that are repetitive and highly structured. Whilst some low skilled jobs have the potential to be fully automated, in most cases, it will be more of a case of individual tasks within a wider role being replaced by AI solutions, with McKinsey & Company predicting that 60% of current jobs will have 30% of activity automated.\n\nThis is an important distinction: in most cases, technology isn\u2019t replacing roles but helping to lighten the workload. And what elements of the workload? Typically the mundane admin tasks that people find tedious.\n\nFrom our experience working with data analysts, we are finding up to 80% of people\u2019s time is spent organising and sifting through data. Recordsure\u2019s speech analytics tools enable the automation of this part of the process though, which is transformational: rather than randomly sampling a tiny percentage of audio files, analysts can now review 100% of them by cutting out the bulk of the admin. This then means they can spend most of their day focusing their energy on the areas they can shine and bring their skills to bear." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "inLanguage": "en-GB", "headline": "Communicate", "text": "From our experience, the reaction to this is overwhelmingly positive once staff realise they have been handed a tool that enables them to become more effective and focus increased time on the more rewarding aspects of their role. For instance, give sales teams voice analytics tools which free up more time to spend with customers whilst drawing new insights that help them improve their pitch and you can expect to see smiles on faces.\n\nIt is important to be open with staff from the outset: keep everyone in the loop, make it clear how technology is being brought in to support existing processes, explain how it fits within the wider business strategy and make sure everyone understands the benefits to them specifically. Create an open environment where those involved know what is happening and feel comfortable asking questions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "inLanguage": "en-GB", "headline": "Pilot with a sample", "text": "It\u2019s generally best practice to pilot implementation of any new initiative with a small sample before wider rollouts across the department or organisation. When considering who to involve in a pilot, try and focus on members of the team who are enthusiastic, pro-active and open to innovative thinking.\n\nIt\u2019s important that this is a two-way conversation: ask for feedback, and make sure that responses are taken into consideration. Being part of a bigger project and seeing the value that contributions are having are great ways to strengthen a team and increase the number of people that share the wider vision.\n\nThis will in turn help create a genuine and organic momentum within the business as roll out begins. Keep good communication throughout and make sure updates are shared and discussed at team meetings. Prevent fear of the unknown through familiarity and discussion, and instead grow a culture of excitement as the benefits are embraced.\n\nUltimately, I\u2019m a firm believer that an organisation is only as strong as the people that make it. Technology doesn\u2019t change this: it simply creates new tools to help make those people more and effective." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/prepare-team-new-voice-analytics-automation-implementation/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What fear can automation create?", "acceptedAnswer": { "@type": "Answer", "text": "Automation can create a fear that robots will steal jobs." } }, { "@type": "Question", "name": "What tasks are best suited to AI?", "acceptedAnswer": { "@type": "Answer", "text": "AI works best with repetitive, highly structured tasks." } }, { "@type": "Question", "name": "How should leaders communicate automation?", "acceptedAnswer": { "@type": "Answer", "text": "They should explain how technology supports existing processes, fits the business strategy and benefits staff." } }, { "@type": "Question", "name": "How should a rollout begin?", "acceptedAnswer": { "@type": "Answer", "text": "Start with a small pilot involving enthusiastic, proactive and open team members before wider rollout." } } ] } ] } ``` ### Do voice analytics and automation have a place in complex sectors? - URL: https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/ - Published: 2018-07-18 - Modified: 2026-10-09 **Topic:** Voice analytics automation Automation is most useful in complex sectors when it supports specialists rather than replacing them. Voice analytics can organise interactions, find relevant details and highlight risks across conversations. #### Key points - Automation works best on repeatable administrative work that follows recognisable patterns. - Audio, email, chat and handwritten records can be brought into one reviewable format. - Machine learning can segment conversations, extract key details and identify themes or anomalies. - Monitoring every meeting can provide broader oversight than random sampling or mystery shopping. - The aim is to help experts spend more time on judgement-led work. **Here, we investigate the role automation can play in highly nuanced business interactions** One of the things we get asked about most at Recordsure is the art of the possible. Where does technical feasibility end and science fiction begin? We’ve all seen the headlines about how much time is lost by organisations each year to red tape and admin tasks. An independent report in 2017 found that [office workers lose a third of their week to admin](https://www.businesswire.com/news/home/20170628005817/en/Office-workers-lose-work-time-admin-independent), although of course, no two businesses are the same and this figure often skyrockets in more specialist areas. For instance, we’ve spoken to data analysts who are spending 90% of their time on data collection and organisation, with only 10% of their time left for the actual analysis where their expertise is truly needed. #### A new way of thinking Automation and AI work best when applied to repetitive tasks which follow similar patterns. This has meant that in [speech analytics](/technology/conversation-intelligence/), a lot of the application has been focused on automating simple conversations like appointment bookings, chatbots or quick enquiries that follow a rigid, repetitive formula. This has fuelled a misconception that automation becomes less effective the more complex the case is. Historically, this may perhaps have been true, but things have changed in recent years with new applications of technology that can make departments significantly more efficient. The key? Using technology to make team members more effective – which is an important distinction from using technology to replace them. So, what are the key areas technology can take the weight of admin off people’s shoulders allowing them to focus their time and energy on the areas they can truly shine: #### 1\. Standardising different channels into one compatible format Before you can analyse data, you first need to compile it. Odds are that multiple channels have been used in communication, which is brilliant for customer care but can be a nightmare for reporting. When your data is spread across phone conversations, email, live chat, face-to-face meeting recordings (or more likely, hastily scribbled meeting notes), simply organising it is a time-consuming job in itself. This can be automated though. Audio files from phone and meeting recordings can be transcribed and combined with written records like emails and chatbots. Digitising handwritten documents can then create a comprehensive cradle to the grave account of all professional interactions which will save time on the prep work needed before a review can be conducted. #### 2\. Identifying irrelevant data which can be ignored Again, that balance between a good customer experience and analyst-friendly data. Any free-flowing conversation is going to cover a lot of ground, and a lot of it simply won’t be relevant to your audit. If you’re checking whether a customer has been mis-sold a product for regulatory purposes, for instance, you won’t need to trawl through the security questions or data collection portion of the conversation. There is a lot of power at your fingertips now to avoid these traps. Machine learning technology can be used to review transcripts and discard any that are irrelevant for your purposes, then segment topics of conversations into key themes. You can now instantly ignore interactions that aren’t relevant to your goals. On a more granular level, you can review a conversation and automatically break it down into these segments allowing analysts to focus purely on the elements which are actually relevant to them. #### 3\. Extracting key details Consider the question “how much do you earn?” It’s one that will by necessity be asked in conversations on everything from loan applications to recruitment. Historically, it’s posed one significant issue for data analysts: there are hundreds of different ways you can ask it. This means that through traditional methods like keyword search, extracting this information would require a huge amount of manual work. Times have changed though, and machine learning technology can now mimic the way a human understands conversation to allow data extraction. Rather than having to break the rhythm of a customer conversation by scribbling notes or going through a full meeting recording afterwards, the information is now available at the click of a button. #### 4\. Zoning in on conversational trends and anomalies You want to have flowing conversations with clients rather than following a script, but there are still certain patterns natural conversations will tend to follow. Using speech analytics tools to understand these patterns can be a useful tool. An obvious example is during the sales process. If the executives who are listening to the prospect’s needs are getting better results than the ones more focused on describing the product, then trends like this can be instantly highlighted and real-life examples of best practices shared instantly to help train the team. You can also bring in sentiment analysis to see how a prospect is engaged over the course of the conversation to enhance messaging and maximise conversions. Being able to monitor this efficiently allows you to review 100% of meetings rather than random sampling or having to use mystery shoppers. Similarly, we have used Recordsure’s voice analytics platform to successfully identify potentially vulnerable customers based on their behavioural traits thus providing firms with a strong way to target those in need so they can dedicate additional support where it is needed. #### 5\. Automating internal process reviews Reviewing activity on a macro level is a job in itself. This review process can be made considerably more efficient by box checking key credentials automatically. There will be multiple pieces of information that you need to retrieve as well as provide during professional interactions: did you collect all the personal details required from the customer? Did you complete all your due diligence? Were the necessary security processes followed? These will be different from business to business and from role to role, but machine learning technology can be employed to allow an instant indicator of how well these criteria have been met in order to maximise opportunities and minimise risks. #### Empower the experts Many businesses provide solutions to complex problems, solutions that require human judgement that you wouldn’t dream of delegating to a piece of software. In instances like this, the value of AI and automation lies in driving efficiencies that allow human decision makers to use their specialist skills and operate more effectively. Awareness of this value is surprisingly low, meaning that there is a huge amount of potential going untapped by organisations worldwide. The easiest way to test this is to take a step back and consider how much day-to-day activity requires the full expertise you or your team possess. If you can pull out any elements which feel more of a grind than an art, it’s worth looking into whether there could be a technological solution for them. #### Supporting sources - [Office workers lose work time to admin](https://www.businesswire.com/news/home/20170628005817/en/Office-workers-lose-work-time-admin-independent) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Do voice analytics and automation have a place in complex sectors?", "item": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/", "name": "Do voice analytics and automation have a place in complex sectors?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-07-18T09:48:03+01:00", "dateModified": "2023-07-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-07-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Do voice analytics and automation have a place in complex sectors?", "datePublished": "2018-07-18T09:48:03+01:00", "dateModified": "2026-10-09T04:50:23+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/63e563ee3f854d9b92e32a4bd19840aa/thumbnail-1024-ff0e88e44e4f9d6b52055c113b23003b3866b5e3431e68baca3d353b7a0b85ae.jpg", "description": "Voice analytics can reduce administrative work in complex regulated sectors by standardising records, identifying relevant data and helping experts focus on judgement-led tasks.", "inLanguage": "en-GB", "articleBody": "Automation is most useful in complex sectors when it supports specialists rather than replacing them. Voice analytics can organise interactions, find relevant details and highlight risks across conversations.\n\nHere, we investigate the role automation can play in highly nuanced business interactions\n\nOne of the things we get asked about most at Recordsure is the art of the possible. Where does technical feasibility end and science fiction begin?\n\nWe\u2019ve all seen the headlines about how much time is lost by organisations each year to red tape and admin tasks. An independent report in 2017 found that office workers lose a third of their week to admin, although of course, no two businesses are the same and this figure often skyrockets in more specialist areas. For instance, we\u2019ve spoken to data analysts who are spending 90% of their time on data collection and organisation, with only 10% of their time left for the actual analysis where their expertise is truly needed.\n\nA new way of thinking\n\nAutomation and AI work best when applied to repetitive tasks which follow similar patterns. This has meant that in speech analytics, a lot of the application has been focused on automating simple conversations like appointment bookings, chatbots or quick enquiries that follow a rigid, repetitive formula. This has fuelled a misconception that automation becomes less effective the more complex the case is.\n\nHistorically, this may perhaps have been true, but things have changed in recent years with new applications of technology that can make departments significantly more efficient. The key? Using technology to make team members more effective \u2013 which is an important distinction from using technology to replace them.\n\nSo, what are the key areas technology can take the weight of admin off people\u2019s shoulders allowing them to focus their time and energy on the areas they can truly shine:\n\n1. Standardising different channels into one compatible format\n\nBefore you can analyse data, you first need to compile it. Odds are that multiple channels have been used in communication, which is brilliant for customer care but can be a nightmare for reporting. When your data is spread across phone conversations, email, live chat, face-to-face meeting recordings (or more likely, hastily scribbled meeting notes), simply organising it is a time-consuming job in itself.\n\nThis can be automated though. Audio files from phone and meeting recordings can be transcribed and combined with written records like emails and chatbots. Digitising handwritten documents can then create a comprehensive cradle to the grave account of all professional interactions which will save time on the prep work needed before a review can be conducted.\n\n2. Identifying irrelevant data which can be ignored\n\nAgain, that balance between a good customer experience and analyst-friendly data. Any free-flowing conversation is going to cover a lot of ground, and a lot of it simply won\u2019t be relevant to your audit. If you\u2019re checking whether a customer has been mis-sold a product for regulatory purposes, for instance, you won\u2019t need to trawl through the security questions or data collection portion of the conversation.\n\nThere is a lot of power at your fingertips now to avoid these traps. Machine learning technology can be used to review transcripts and discard any that are irrelevant for your purposes, then segment topics of conversations into key themes. You can now instantly ignore interactions that aren\u2019t relevant to your goals. On a more granular level, you can review a conversation and automatically break it down into these segments allowing analysts to focus purely on the elements which are actually relevant to them.\n\n3. Extracting key details\n\nConsider the question \u201chow much do you earn?\u201d It\u2019s one that will by necessity be asked in conversations on everything from loan applications to recruitment. Historically, it\u2019s posed one significant issue for data analysts: there are hundreds of different ways you can ask it.\n\nThis means that through traditional methods like keyword search, extracting this information would require a huge amount of manual work. Times have changed though, and machine learning technology can now mimic the way a human understands conversation to allow data extraction. Rather than having to break the rhythm of a customer conversation by scribbling notes or going through a full meeting recording afterwards, the information is now available at the click of a button.\n\n4. Zoning in on conversational trends and anomalies\n\nYou want to have flowing conversations with clients rather than following a script, but there are still certain patterns natural conversations will tend to follow. Using speech analytics tools to understand these patterns can be a useful tool.\n\nAn obvious example is during the sales process. If the executives who are listening to the prospect\u2019s needs are getting better results than the ones more focused on describing the product, then trends like this can be instantly highlighted and real-life examples of best practices shared instantly to help train the team. You can also bring in sentiment analysis to see how a prospect is engaged over the course of the conversation to enhance messaging and maximise conversions.\n\nBeing able to monitor this efficiently allows you to review 100% of meetings rather than random sampling or having to use mystery shoppers. Similarly, we have used Recordsure\u2019s voice analytics platform to successfully identify potentially vulnerable customers based on their behavioural traits thus providing firms with a strong way to target those in need so they can dedicate additional support where it is needed.\n\n5. Automating internal process reviews\n\nReviewing activity on a macro level is a job in itself. This review process can be made considerably more efficient by box checking key credentials automatically. There will be multiple pieces of information that you need to retrieve as well as provide during professional interactions: did you collect all the personal details required from the customer? Did you complete all your due diligence? Were the necessary security processes followed?\n\nThese will be different from business to business and from role to role, but machine learning technology can be employed to allow an instant indicator of how well these criteria have been met in order to maximise opportunities and minimise risks.\n\nEmpower the experts\n\nMany businesses provide solutions to complex problems, solutions that require human judgement that you wouldn\u2019t dream of delegating to a piece of software. In instances like this, the value of AI and automation lies in driving efficiencies that allow human decision makers to use their specialist skills and operate more effectively.\n\nAwareness of this value is surprisingly low, meaning that there is a huge amount of potential going untapped by organisations worldwide. The easiest way to test this is to take a step back and consider how much day-to-day activity requires the full expertise you or your team possess. If you can pull out any elements which feel more of a grind than an art, it\u2019s worth looking into whether there could be a technological solution for them.", "wordCount": 1147, "keywords": [ "Lending and Credit", "Utilities", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Voice analytics automation" } ], "audience": [ { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Utilities" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-7" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-8" } ], "citation": [ { "@type": "CreativeWork", "name": "Office workers lose work time to admin", "url": "https://www.businesswire.com/news/home/20170628005817/en/Office-workers-lose-work-time-admin-independent" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "text": "Here, we investigate the role automation can play in highly nuanced business interactions\n\nOne of the things we get asked about most at Recordsure is the art of the possible. Where does technical feasibility end and science fiction begin?\n\nWe\u2019ve all seen the headlines about how much time is lost by organisations each year to red tape and admin tasks. An independent report in 2017 found that office workers lose a third of their week to admin, although of course, no two businesses are the same and this figure often skyrockets in more specialist areas. For instance, we\u2019ve spoken to data analysts who are spending 90% of their time on data collection and organisation, with only 10% of their time left for the actual analysis where their expertise is truly needed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "A new way of thinking", "text": "Automation and AI work best when applied to repetitive tasks which follow similar patterns. This has meant that in speech analytics, a lot of the application has been focused on automating simple conversations like appointment bookings, chatbots or quick enquiries that follow a rigid, repetitive formula. This has fuelled a misconception that automation becomes less effective the more complex the case is.\n\nHistorically, this may perhaps have been true, but things have changed in recent years with new applications of technology that can make departments significantly more efficient. The key? Using technology to make team members more effective \u2013 which is an important distinction from using technology to replace them.\n\nSo, what are the key areas technology can take the weight of admin off people\u2019s shoulders allowing them to focus their time and energy on the areas they can truly shine:" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "1. Standardising different channels into one compatible format", "text": "Before you can analyse data, you first need to compile it. Odds are that multiple channels have been used in communication, which is brilliant for customer care but can be a nightmare for reporting. When your data is spread across phone conversations, email, live chat, face-to-face meeting recordings (or more likely, hastily scribbled meeting notes), simply organising it is a time-consuming job in itself.\n\nThis can be automated though. Audio files from phone and meeting recordings can be transcribed and combined with written records like emails and chatbots. Digitising handwritten documents can then create a comprehensive cradle to the grave account of all professional interactions which will save time on the prep work needed before a review can be conducted." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "2. Identifying irrelevant data which can be ignored", "text": "Again, that balance between a good customer experience and analyst-friendly data. Any free-flowing conversation is going to cover a lot of ground, and a lot of it simply won\u2019t be relevant to your audit. If you\u2019re checking whether a customer has been mis-sold a product for regulatory purposes, for instance, you won\u2019t need to trawl through the security questions or data collection portion of the conversation.\n\nThere is a lot of power at your fingertips now to avoid these traps. Machine learning technology can be used to review transcripts and discard any that are irrelevant for your purposes, then segment topics of conversations into key themes. You can now instantly ignore interactions that aren\u2019t relevant to your goals. On a more granular level, you can review a conversation and automatically break it down into these segments allowing analysts to focus purely on the elements which are actually relevant to them." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "3. Extracting key details", "text": "Consider the question \u201chow much do you earn?\u201d It\u2019s one that will by necessity be asked in conversations on everything from loan applications to recruitment. Historically, it\u2019s posed one significant issue for data analysts: there are hundreds of different ways you can ask it.\n\nThis means that through traditional methods like keyword search, extracting this information would require a huge amount of manual work. Times have changed though, and machine learning technology can now mimic the way a human understands conversation to allow data extraction. Rather than having to break the rhythm of a customer conversation by scribbling notes or going through a full meeting recording afterwards, the information is now available at the click of a button." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "4. Zoning in on conversational trends and anomalies", "text": "You want to have flowing conversations with clients rather than following a script, but there are still certain patterns natural conversations will tend to follow. Using speech analytics tools to understand these patterns can be a useful tool.\n\nAn obvious example is during the sales process. If the executives who are listening to the prospect\u2019s needs are getting better results than the ones more focused on describing the product, then trends like this can be instantly highlighted and real-life examples of best practices shared instantly to help train the team. You can also bring in sentiment analysis to see how a prospect is engaged over the course of the conversation to enhance messaging and maximise conversions.\n\nBeing able to monitor this efficiently allows you to review 100% of meetings rather than random sampling or having to use mystery shoppers. Similarly, we have used Recordsure\u2019s voice analytics platform to successfully identify potentially vulnerable customers based on their behavioural traits thus providing firms with a strong way to target those in need so they can dedicate additional support where it is needed." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-7", "position": 7, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "5. Automating internal process reviews", "text": "Reviewing activity on a macro level is a job in itself. This review process can be made considerably more efficient by box checking key credentials automatically. There will be multiple pieces of information that you need to retrieve as well as provide during professional interactions: did you collect all the personal details required from the customer? Did you complete all your due diligence? Were the necessary security processes followed?\n\nThese will be different from business to business and from role to role, but machine learning technology can be employed to allow an instant indicator of how well these criteria have been met in order to maximise opportunities and minimise risks." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#analysis-8", "position": 8, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "headline": "Empower the experts", "text": "Many businesses provide solutions to complex problems, solutions that require human judgement that you wouldn\u2019t dream of delegating to a piece of software. In instances like this, the value of AI and automation lies in driving efficiencies that allow human decision makers to use their specialist skills and operate more effectively.\n\nAwareness of this value is surprisingly low, meaning that there is a huge amount of potential going untapped by organisations worldwide. The easiest way to test this is to take a step back and consider how much day-to-day activity requires the full expertise you or your team possess. If you can pull out any elements which feel more of a grind than an art, it\u2019s worth looking into whether there could be a technological solution for them." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/voice-analytics-automation-place-complex-sectors/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Where can automation help in complex sectors?", "acceptedAnswer": { "@type": "Answer", "text": "Automation can compile information, identify irrelevant data, extract key details, spot trends and automate internal process reviews." } }, { "@type": "Question", "name": "Should AI replace human judgement?", "acceptedAnswer": { "@type": "Answer", "text": "No. AI and automation are most valuable when they take administrative weight from specialists so they can use their expertise more effectively." } }, { "@type": "Question", "name": "How can voice analytics support oversight?", "acceptedAnswer": { "@type": "Answer", "text": "Voice analytics can segment conversations, identify themes and anomalies, support review of all meetings and help firms target additional support where needed." } } ] } ] } ``` ### How should CMCs prepare for the FCA’s proposed rules on conversation recording? - URL: https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/ - Published: 2018-06-14 - Modified: 2026-10-09 **Topic:** CMC call recording The FCA proposed new rules for claims management companies, including recording all customer calls and storing audio for at least 12 months. Mark Braddock explains why the focus on telephony is expected and how firms can prepare. #### Key points - The FCA proposed new CMC rules including call recording, audio storage and records of electronic communications. - Phone conversations were identified as a source of potential harm in the CMC market. - Firms need infrastructure, processes and training to record and securely store customer calls. - Well-structured audio data can make audits faster and help firms use conversation insight more constructively. **The Financial Conduct Authority has proposed a wide range of new regulations for claims management companies, including rules on recording and storing customer calls. Recordsure spoke with Mark Braddock, COO at Recordsure, about the proposed changes, why they are not surprising and how firms can respond.** #### What are the proposed changes? The proposed rules range from giving potential customers a short summary document containing important information to greater transparency around no-win, no-fee services. A full list is available on the [FCA website](https://www.fca.org.uk/news/press-releases/fca-sets-out-plans-regulation-claims-management-companies), but the area that stood out was phone conversations. The FCA singled out phone conversations as a potential source of harm in the market and an area needing intervention to improve transparency. Two key components are proposed: 1. CMCs will need to record all calls they have with customers. 2. They will need to store these audio files for a minimum of 12 months. The intention is to reduce nuisance calls, such as cold calling, and potentially aggressive sales techniques. The FCA also proposed that CMCs keep a record of electronic communications such as emails and text messages. #### Why are these new regulations being planned? The FCA is due to become the regulator of CMCs on 1 April 2019 and has been considering ways to safeguard consumers. Phone conversations have emerged as one of the areas most in need of more structure. The FCA said: “A large proportion of CMCs’ business is conducted by telephone and this is where much of the harm in the market occurs, such as poor service or misleading or aggressive marketing.” The focus on telephony is not a surprise. The FCA has been vocal about the importance of accurate and comprehensive data, and these changes would bring CMCs into line with other sectors within the FCA’s jurisdiction. #### How do firms need to prepare? At minimum, firms need infrastructure to record and securely store customer phone conversations. This includes technical implementation as well as process planning and training where these practices are not already in place. Firms also need to consider how their audio data is structured. When recordings need to be reviewed, evidencing compliance can become a project in itself, with data analysts sifting through many audio files. Recordsure had a recent case where its AI technology automated elements of this process, enabling analysts to audit audio files 60% more efficiently than through traditional methods. The workload around an audit can be substantial, so planning in advance and structuring audio data carefully matters. #### How can CMCs embrace these changes and strengthen business? Some firms may view the regulations with concern, but there are opportunities for organisations that respond early. Reviewing processes and infrastructure can create a chance to make wider changes that strengthen the business. Recordsure software can improve the sales cycle by highlighting points in conversations that are well received or where engagement tails off, giving insight that can guide messaging and maximise conversions. It can also help identify potentially vulnerable customers, aligning with the FCA’s focus on consumer welfare and providing a positive brand differentiator. The proposed changes focus on phone calls, but firms may also consider whether similar procedures would be valuable for face-to-face conversations. This is not currently part of the proposals, but it appears consistent with the FCA’s wider ethos and could help future-proof businesses while extending voice analytics insight and audit trails across another channel. The most successful companies often embrace change rather than standing still. The FCA’s proposals should be viewed as an opportunity for affected CMCs. #### Supporting sources - [FCA sets out plans for regulation of claims management companies](https://www.fca.org.uk/news/press-releases/fca-sets-out-plans-regulation-claims-management-companies) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How should CMCs prepare for the FCA\u2019s proposed rules on conversation recording?", "item": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/", "name": "How should CMCs prepare for the FCA\u2019s proposed rules on conversation recording?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-06-14T10:14:17+01:00", "dateModified": "2018-06-14T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2018-06-14" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How should CMCs prepare for the FCA\u2019s proposed rules on conversation recording?", "datePublished": "2018-06-14T10:14:17+01:00", "dateModified": "2026-10-09T04:50:06+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/a238e884adcd4a0684a28d25690017c3/thumbnail-1024-c61856883ffcbf1d7d7bb0771fa0a1491529ab4f205d4a95cfb134d0cad8ac2d.jpg", "description": "Mark Braddock explains the FCA\u2019s proposed claims management rules, including call recording and storage, and how CMCs can prepare their processes.", "inLanguage": "en-GB", "articleBody": "The FCA proposed new rules for claims management companies, including recording all customer calls and storing audio for at least 12 months. Mark Braddock explains why the focus on telephony is expected and how firms can prepare.\n\nThe Financial Conduct Authority has proposed a wide range of new regulations for claims management companies, including rules on recording and storing customer calls. Recordsure spoke with Mark Braddock, COO at Recordsure, about the proposed changes, why they are not surprising and how firms can respond.\n\nWhat are the proposed changes?\n\nThe proposed rules range from giving potential customers a short summary document containing important information to greater transparency around no-win, no-fee services. A full list is available on the FCA website, but the area that stood out was phone conversations.\n\nThe FCA singled out phone conversations as a potential source of harm in the market and an area needing intervention to improve transparency. Two key components are proposed:\n\n1. CMCs will need to record all calls they have with customers.\n2. They will need to store these audio files for a minimum of 12 months.\n\nThe intention is to reduce nuisance calls, such as cold calling, and potentially aggressive sales techniques. The FCA also proposed that CMCs keep a record of electronic communications such as emails and text messages.\n\nWhy are these new regulations being planned?\n\nThe FCA is due to become the regulator of CMCs on 1 April 2019 and has been considering ways to safeguard consumers. Phone conversations have emerged as one of the areas most in need of more structure.\n\nThe FCA said: \u201cA large proportion of CMCs\u2019 business is conducted by telephone and this is where much of the harm in the market occurs, such as poor service or misleading or aggressive marketing.\u201d\n\nThe focus on telephony is not a surprise. The FCA has been vocal about the importance of accurate and comprehensive data, and these changes would bring CMCs into line with other sectors within the FCA\u2019s jurisdiction.\n\nHow do firms need to prepare?\n\nAt minimum, firms need infrastructure to record and securely store customer phone conversations. This includes technical implementation as well as process planning and training where these practices are not already in place.\n\nFirms also need to consider how their audio data is structured. When recordings need to be reviewed, evidencing compliance can become a project in itself, with data analysts sifting through many audio files.\n\nRecordsure had a recent case where its AI technology automated elements of this process, enabling analysts to audit audio files 60% more efficiently than through traditional methods. The workload around an audit can be substantial, so planning in advance and structuring audio data carefully matters.\n\nHow can CMCs embrace these changes and strengthen business?\n\nSome firms may view the regulations with concern, but there are opportunities for organisations that respond early. Reviewing processes and infrastructure can create a chance to make wider changes that strengthen the business.\n\nRecordsure software can improve the sales cycle by highlighting points in conversations that are well received or where engagement tails off, giving insight that can guide messaging and maximise conversions. It can also help identify potentially vulnerable customers, aligning with the FCA\u2019s focus on consumer welfare and providing a positive brand differentiator.\n\nThe proposed changes focus on phone calls, but firms may also consider whether similar procedures would be valuable for face-to-face conversations. This is not currently part of the proposals, but it appears consistent with the FCA\u2019s wider ethos and could help future-proof businesses while extending voice analytics insight and audit trails across another channel.\n\nThe most successful companies often embrace change rather than standing still. 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Recordsure spoke with Mark Braddock, COO at Recordsure, about the proposed changes, why they are not surprising and how firms can respond." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "inLanguage": "en-GB", "headline": "What are the proposed changes?", "text": "The proposed rules range from giving potential customers a short summary document containing important information to greater transparency around no-win, no-fee services. A full list is available on the FCA website, but the area that stood out was phone conversations.\n\nThe FCA singled out phone conversations as a potential source of harm in the market and an area needing intervention to improve transparency. Two key components are proposed:\n\n1. CMCs will need to record all calls they have with customers.\n2. They will need to store these audio files for a minimum of 12 months.\n\nThe intention is to reduce nuisance calls, such as cold calling, and potentially aggressive sales techniques. The FCA also proposed that CMCs keep a record of electronic communications such as emails and text messages." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Why are these new regulations being planned?", "text": "The FCA is due to become the regulator of CMCs on 1 April 2019 and has been considering ways to safeguard consumers. Phone conversations have emerged as one of the areas most in need of more structure.\n\nThe FCA said: \u201cA large proportion of CMCs\u2019 business is conducted by telephone and this is where much of the harm in the market occurs, such as poor service or misleading or aggressive marketing.\u201d\n\nThe focus on telephony is not a surprise. The FCA has been vocal about the importance of accurate and comprehensive data, and these changes would bring CMCs into line with other sectors within the FCA\u2019s jurisdiction." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "inLanguage": "en-GB", "headline": "How do firms need to prepare?", "text": "At minimum, firms need infrastructure to record and securely store customer phone conversations. This includes technical implementation as well as process planning and training where these practices are not already in place.\n\nFirms also need to consider how their audio data is structured. When recordings need to be reviewed, evidencing compliance can become a project in itself, with data analysts sifting through many audio files.\n\nRecordsure had a recent case where its AI technology automated elements of this process, enabling analysts to audit audio files 60% more efficiently than through traditional methods. The workload around an audit can be substantial, so planning in advance and structuring audio data carefully matters." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "inLanguage": "en-GB", "headline": "How can CMCs embrace these changes and strengthen business?", "text": "Some firms may view the regulations with concern, but there are opportunities for organisations that respond early. Reviewing processes and infrastructure can create a chance to make wider changes that strengthen the business.\n\nRecordsure software can improve the sales cycle by highlighting points in conversations that are well received or where engagement tails off, giving insight that can guide messaging and maximise conversions. It can also help identify potentially vulnerable customers, aligning with the FCA\u2019s focus on consumer welfare and providing a positive brand differentiator.\n\nThe proposed changes focus on phone calls, but firms may also consider whether similar procedures would be valuable for face-to-face conversations. This is not currently part of the proposals, but it appears consistent with the FCA\u2019s wider ethos and could help future-proof businesses while extending voice analytics insight and audit trails across another channel.\n\nThe most successful companies often embrace change rather than standing still. The FCA\u2019s proposals should be viewed as an opportunity for affected CMCs." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/cmcs-prepare-fcas-proposed-rules-conversation-recording/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What call recording rules did the FCA propose for CMCs?", "acceptedAnswer": { "@type": "Answer", "text": "CMCs would need to record all customer calls and store the audio files for a minimum of 12 months." } }, { "@type": "Question", "name": "Why is the FCA focusing on phone conversations?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA identified telephone business as an area where much market harm occurs, including poor service and misleading or aggressive marketing." } }, { "@type": "Question", "name": "What should firms prepare first?", "acceptedAnswer": { "@type": "Answer", "text": "They should put infrastructure in place to record and securely store calls, supported by process planning and training where needed." } }, { "@type": "Question", "name": "How can structured audio data help?", "acceptedAnswer": { "@type": "Answer", "text": "It can make audits easier by helping analysts find and review the right recordings, and Recordsure reported a case where AI-supported audit activity was 60% more efficient." } } ] } ] } ``` ### From Skynet to Siri: the evolution of AI and voice integrated tools - URL: https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/ - Published: 2018-06-05 - Modified: 2026-10-09 **Topic:** Voice analytics Public perceptions of AI have shifted from science-fiction anxiety towards everyday voice assistants. Voice recording and analytics are increasingly useful for businesses, while human review remains important where qualitative decisions are needed. #### Key points - Perceptions of AI have shifted from Big Brother and Skynet to Alexa, Siri and Google Assistant. - Voice tools are becoming more common as businesses look to unlock value from speech data. - Recordsure can track engagement and identify anomalies in customer conversations. - Conversation analytics need context, not only keywords, to support meaningful insight. - the technology supports human analysts rather than replacing qualitative decisions. Artificial intelligence is being perceived differently over time. Voice analytics is becoming an increasingly valuable tool for businesses, while software still needs human oversight before it can support qualitative decisions. #### The changing attitudes towards artificial intelligence Use of and exposure to new technology changes attitudes. When Recordsure first worked with artificial intelligence and machine learning, developers often found follow-up questions referred to Big Brother or [Skynet](https://en.wikipedia.org/wiki/Skynet_(Terminator)). That has changed. Questions are now more likely to mention Alexa, Siri or Google Assistant. In a relatively short period, perceptions have shifted from AI as a science-fiction threat to a personal assistant welcomed into the home. Exposure affects attitudes: what once prompted science fiction references now more often prompts questions about assistants people use to organise daily life. #### The wider adoption of voice recording and analytics Voice integrated tools are becoming more common beyond the home. More businesses are looking for ways to unlock value from speech data, and voice recording and analytics are a natural progression for many organisations. The technology is increasingly accessible. Most people carry a phone for 24 hours a day, which means they usually have access to a microphone around the clock. This is simpler than carrying pen and paper, although valuable insight still depends on higher-quality recordings than many mobile microphones can provide. The wider trend is clear: voice technology is becoming a more significant business tool. This output This is an over-simplification, but it shows why recording and analytics have become commonplace enough for organisations to consider new business uses. #### Fresh insights from customer conversations The value for many businesses lies in high-quality insight. Combined with machine learning and artificial intelligence, the technology has moved beyond transcription and keyword analysis. Recordsure gives users the ability to track engagement during a conversation, allowing businesses to see when customers were actively interested and when attention started to waver. This can be used to improve sales activity at individual and systemic levels. The AI can also identify anomalies that may indicate a mandatory disclosure was not given in full or that a customer’s income was not discussed in enough detail. Organisations can target specific issues and direct support where it is needed. businesses are adapting departmental processes to gain these benefits from technologies that were not available a few years earlier. These capabilities can channel additional support to specific interactions instead of relying on broad manual review. The input frames this as a practical way to enhance activity across both individual cases and wider systematic processes. Examples include such as mandatory disclosures and income detail because those issues show how conversation review can find sufficient evidence and direct support to the exact points that matter. #### Will voice analytics ever be 100% accurate? Recordsure uses stringent measures to monitor accuracy. Meaningful insight from free-flowing conversations requires attention not only to words but to context and meaning between the lines. By that standard, even humans cannot register 100% accuracy. Conversations can be interpreted differently because of subjective factors such as subtext, so there will always be a margin of error when different people review the same interaction. The human brain can understand how multiple topics relate over a conversation. Recordsure mimics this process with machine learning voice analytics that grows its contextual understanding as it processes more data, aiming to understand both words and meaning. the technology is around four to five times more powerful than traditional keyword recognition tools and that accuracy levels are moving closer to human fluency. It is not designed to replace humans where qualitative decisions are needed, but to help them by automating administration, filtering irrelevant data and focusing attention where it matters most. This output concludes that Businesses do not yet need to ask whether a machine can understand conversations better than a human, but that surface-level understanding from AI can already drive efficiencies. It also notes that separate reviewers may reach different interpretations of the same interaction, because subjective elements and context affect meaning. Machine learning is therefore used to grow contextual understanding rather than to remove qualitative judgement. The input emphasises that analysts do not need to run for the hills or consider new career options. The solution is designed to empower them to ignore irrelevant data, focus efforts where they have the strongest impact and use surface-level AI understanding to drive efficiencies within businesses. #### Supporting sources - [Skynet reference](https://en.wikipedia.org/wiki/Skynet_(Terminator)) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "From Skynet to Siri: the evolution of AI and voice integrated tools", "item": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/", "name": "From Skynet to Siri: the evolution of AI and voice integrated tools", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-06-05T11:01:56+01:00", "dateModified": "2018-06-05T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2018-06-05" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "From Skynet to Siri: the evolution of AI and voice integrated tools", "datePublished": "2018-06-05T11:01:56+01:00", "dateModified": "2026-10-09T04:50:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": null, "description": "Changing attitudes to AI, wider adoption of voice analytics, fresh insight from customer conversations and the limits of accuracy all shape how businesses use conversation technology.", "inLanguage": "en-GB", "articleBody": "Public perceptions of AI have shifted from science-fiction anxiety towards everyday voice assistants. Voice recording and analytics are increasingly useful for businesses, while human review remains important where qualitative decisions are needed.\n\nArtificial intelligence is being perceived differently over time. Voice analytics is becoming an increasingly valuable tool for businesses, while software still needs human oversight before it can support qualitative decisions.\n\nThe changing attitudes towards artificial intelligence\n\nUse of and exposure to new technology changes attitudes. When Recordsure first worked with artificial intelligence and machine learning, developers often found follow-up questions referred to Big Brother or Skynet).\n\nThat has changed. Questions are now more likely to mention Alexa, Siri or Google Assistant. In a relatively short period, perceptions have shifted from AI as a science-fiction threat to a personal assistant welcomed into the home.\n\nExposure affects attitudes: what once prompted science fiction references now more often prompts questions about assistants people use to organise daily life.\n\nThe wider adoption of voice recording and analytics\n\nVoice integrated tools are becoming more common beyond the home. More businesses are looking for ways to unlock value from speech data, and voice recording and analytics are a natural progression for many organisations.\n\nThe technology is increasingly accessible. Most people carry a phone for 24 hours a day, which means they usually have access to a microphone around the clock. This is simpler than carrying pen and paper, although valuable insight still depends on higher-quality recordings than many mobile microphones can provide.\n\nThe wider trend is clear: voice technology is becoming a more significant business tool.\n\nThis output This is an over-simplification, but it shows why recording and analytics have become commonplace enough for organisations to consider new business uses.\n\nFresh insights from customer conversations\n\nThe value for many businesses lies in high-quality insight. Combined with machine learning and artificial intelligence, the technology has moved beyond transcription and keyword analysis.\n\nRecordsure gives users the ability to track engagement during a conversation, allowing businesses to see when customers were actively interested and when attention started to waver. This can be used to improve sales activity at individual and systemic levels.\n\nThe AI can also identify anomalies that may indicate a mandatory disclosure was not given in full or that a customer\u2019s income was not discussed in enough detail. Organisations can target specific issues and direct support where it is needed.\n\nbusinesses are adapting departmental processes to gain these benefits from technologies that were not available a few years earlier.\n\nThese capabilities can channel additional support to specific interactions instead of relying on broad manual review. The input frames this as a practical way to enhance activity across both individual cases and wider systematic processes.\n\nExamples include such as mandatory disclosures and income detail because those issues show how conversation review can find sufficient evidence and direct support to the exact points that matter.\n\nWill voice analytics ever be 100% accurate?\n\nRecordsure uses stringent measures to monitor accuracy. Meaningful insight from free-flowing conversations requires attention not only to words but to context and meaning between the lines.\n\nBy that standard, even humans cannot register 100% accuracy. Conversations can be interpreted differently because of subjective factors such as subtext, so there will always be a margin of error when different people review the same interaction.\n\nThe human brain can understand how multiple topics relate over a conversation. Recordsure mimics this process with machine learning voice analytics that grows its contextual understanding as it processes more data, aiming to understand both words and meaning.\n\nthe technology is around four to five times more powerful than traditional keyword recognition tools and that accuracy levels are moving closer to human fluency. It is not designed to replace humans where qualitative decisions are needed, but to help them by automating administration, filtering irrelevant data and focusing attention where it matters most.\n\nThis output concludes that Businesses do not yet need to ask whether a machine can understand conversations better than a human, but that surface-level understanding from AI can already drive efficiencies.\n\nIt also notes that separate reviewers may reach different interpretations of the same interaction, because subjective elements and context affect meaning. Machine learning is therefore used to grow contextual understanding rather than to remove qualitative judgement.\n\nThe input emphasises that analysts do not need to run for the hills or consider new career options. The solution is designed to empower them to ignore irrelevant data, focus efforts where they have the strongest impact and use surface-level AI understanding to drive efficiencies within businesses.", "wordCount": 754, "keywords": [ "Government" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Voice analytics" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "Skynet reference", "url": "https://en.wikipedia.org/wiki/Skynet_(Terminator)" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "text": "Artificial intelligence is being perceived differently over time. Voice analytics is becoming an increasingly valuable tool for businesses, while software still needs human oversight before it can support qualitative decisions." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "headline": "The changing attitudes towards artificial intelligence", "text": "Use of and exposure to new technology changes attitudes. When Recordsure first worked with artificial intelligence and machine learning, developers often found follow-up questions referred to Big Brother or Skynet).\n\nThat has changed. Questions are now more likely to mention Alexa, Siri or Google Assistant. In a relatively short period, perceptions have shifted from AI as a science-fiction threat to a personal assistant welcomed into the home.\n\nExposure affects attitudes: what once prompted science fiction references now more often prompts questions about assistants people use to organise daily life." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "headline": "The wider adoption of voice recording and analytics", "text": "Voice integrated tools are becoming more common beyond the home. More businesses are looking for ways to unlock value from speech data, and voice recording and analytics are a natural progression for many organisations.\n\nThe technology is increasingly accessible. Most people carry a phone for 24 hours a day, which means they usually have access to a microphone around the clock. This is simpler than carrying pen and paper, although valuable insight still depends on higher-quality recordings than many mobile microphones can provide.\n\nThe wider trend is clear: voice technology is becoming a more significant business tool.\n\nThis output This is an over-simplification, but it shows why recording and analytics have become commonplace enough for organisations to consider new business uses." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "headline": "Fresh insights from customer conversations", "text": "The value for many businesses lies in high-quality insight. Combined with machine learning and artificial intelligence, the technology has moved beyond transcription and keyword analysis.\n\nRecordsure gives users the ability to track engagement during a conversation, allowing businesses to see when customers were actively interested and when attention started to waver. This can be used to improve sales activity at individual and systemic levels.\n\nThe AI can also identify anomalies that may indicate a mandatory disclosure was not given in full or that a customer\u2019s income was not discussed in enough detail. Organisations can target specific issues and direct support where it is needed.\n\nbusinesses are adapting departmental processes to gain these benefits from technologies that were not available a few years earlier.\n\nThese capabilities can channel additional support to specific interactions instead of relying on broad manual review. The input frames this as a practical way to enhance activity across both individual cases and wider systematic processes.\n\nExamples include such as mandatory disclosures and income detail because those issues show how conversation review can find sufficient evidence and direct support to the exact points that matter." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "headline": "Will voice analytics ever be 100% accurate?", "text": "Recordsure uses stringent measures to monitor accuracy. Meaningful insight from free-flowing conversations requires attention not only to words but to context and meaning between the lines.\n\nBy that standard, even humans cannot register 100% accuracy. Conversations can be interpreted differently because of subjective factors such as subtext, so there will always be a margin of error when different people review the same interaction.\n\nThe human brain can understand how multiple topics relate over a conversation. Recordsure mimics this process with machine learning voice analytics that grows its contextual understanding as it processes more data, aiming to understand both words and meaning.\n\nthe technology is around four to five times more powerful than traditional keyword recognition tools and that accuracy levels are moving closer to human fluency. It is not designed to replace humans where qualitative decisions are needed, but to help them by automating administration, filtering irrelevant data and focusing attention where it matters most.\n\nThis output concludes that Businesses do not yet need to ask whether a machine can understand conversations better than a human, but that surface-level understanding from AI can already drive efficiencies.\n\nIt also notes that separate reviewers may reach different interpretations of the same interaction, because subjective elements and context affect meaning. Machine learning is therefore used to grow contextual understanding rather than to remove qualitative judgement.\n\nThe input emphasises that analysts do not need to run for the hills or consider new career options. The solution is designed to empower them to ignore irrelevant data, focus efforts where they have the strongest impact and use surface-level AI understanding to drive efficiencies within businesses." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/skynet-siri-evolution-ai-voice-integrated-tools/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How have attitudes to AI changed?", "acceptedAnswer": { "@type": "Answer", "text": "Questions have shifted from Big Brother and Skynet comparisons to references to Alexa, Siri and Google Assistant." } }, { "@type": "Question", "name": "Why is voice analytics becoming useful for businesses?", "acceptedAnswer": { "@type": "Answer", "text": "Businesses want to unlock value from speech data, and voice recording tools are becoming more accessible." } }, { "@type": "Question", "name": "What can Recordsure identify in conversations?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure can track engagement and identify anomalies such as missing disclosures or insufficient income discussion." } }, { "@type": "Question", "name": "Is voice analytics perfectly accurate?", "acceptedAnswer": { "@type": "Answer", "text": "No. Even humans do not achieve 100% accuracy because context and interpretation can vary." } } ] } ] } ``` ### RegTech and identifying the need for change - URL: https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/ - Published: 2018-05-17 - Modified: 2026-10-09 **Topic:** RegTech change As technology and customer expectations move quickly, financial services firms need to identify entrenched process weaknesses and adopt RegTech where it improves oversight. #### Key points - The FCA was monitoring technology through TechSprints, calls for input and its 2018/9 Business Plan. - The hardest part of change can be identifying entrenched processes that need improvement. - Mortgages are used as an example of high-stakes advice that depends on complete records. - Voice analytics can record and analyse mortgage advice conversations, including face-to-face meetings. **There is a lot of excitement in the world of Regtech at the moment. New technologies are emerging at an incredible rate, customer expectations are evolving rapidly, and we are witnessing a growing trend of innovative solutions towards regulatory challenges.** #### Innovation, revolution and the art of disruption Every day when you open your inbox or browse your social accounts, you’ll see updates on new technologies which are having a disruptive effect within their field. These often catch the eye as they address an age old problem that people have become so used to that they have started accepting them without thinking. When a solution does finally come to light it feels revolutionary as you’re forced to question why the old status quo was tolerated for so long. In the financial sector, the FCA have been monitoring the changing landscape intently. They have already followed [last year’s Techsprint](https://www.fca.org.uk/events/techsprints/model-driven-machine-executable-regulatory-reporting-techsprint) with a [call to arms for input on the use of technology in the financial sector](https://www.fca.org.uk/news/press-releases/fca-launches-call-input-use-technology-achieve-smarter-regulatory-reporting) in February being re-emphasised in their [2018/9 Business Plan](https://www.fca.org.uk/publication/business-plans/business-plan-2018-19.pdf). This attitude should be applauded as the only thing developing as swiftly as technology is customer expectation. #### Identifying the need for change Bringing in change to an organisation always presents challenges which need to be overcome. Implementing new infrastructure requires careful planning and changes to internal processes can add further disruption. Perhaps the biggest difficulty though is spotting the area that needs improving to begin with as these are often so entrenched that they pass by un-noticed. Let’s take a look at mortgages as a quick example. For most people, this will be the biggest financial decision of their lives: the stakes are huge. Think about the process: you have a series of conversations with a mortgage consultant who guides you through your options, notes your preferences and updates them on the system. When your application has been submitted and your offer issued, you must put your entire trust on this single account being thoroughly watertight and dependable: that nothing discussed with the adviser has been accidentally missed off, that you understood everything correctly and that there aren’t any potential issues you weren’t made aware of. The pressure on the adviser is also extremely high, with massive repercussions if procedures aren’t followed in full. #### Implementing change Traditionally, it’s a process that has potential frailties, but these are increasingly being mitigated by technical solutions. We’ve seen amazing results for instance using our voice analytics software to record and analyse conversations between mortgage advisers and they’re customers, which has seen huge benefits on both sides. Through advanced AI analytics and speech recording tools, mortgage providers have been able to generate complete records covering all customer conversations (including face-to-face meetings) to demonstrate they have followed procedures correctly. It has also allowed them to zone in on potentially vulnerable customers to channel extra support intelligently to the people who need it most. Meanwhile, customers have welcomed the added peace of mind that comes with a full record of all their significant interactions. Additionally, they have benefited from having a better customer experience as advisers can focus more on what is important to customers rather than on burdensome administrative tasks which can be automated. #### Keeping Pace It can be difficult, but it pays to try and take a step back and look at where processes might have become outdated. The technology that wasn’t available a few years ago will be taken for granted in no time at all, which is why it is so important for organisations to adopt the latest solutions to avoid the risk of falling behind the competition. The only thing developing as fast as the technology is the customer expectation. #### Supporting sources - [FCA TechSprint](https://www.fca.org.uk/events/techsprints/model-driven-machine-executable-regulatory-reporting-techsprint) - [FCA call for input on technology and regulatory reporting](https://www.fca.org.uk/news/press-releases/fca-launches-call-input-use-technology-achieve-smarter-regulatory-reporting) - [FCA Business Plan 2018/9](https://www.fca.org.uk/publication/business-plans/business-plan-2018-19.pdf) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "RegTech and identifying the need for change", "item": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/", "name": "RegTech and identifying the need for change", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2018-05-17T08:50:20+01:00", "dateModified": "2018-05-17T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2018-05-17" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "RegTech and identifying the need for change", "datePublished": "2018-05-17T08:50:20+01:00", "dateModified": "2026-10-09T04:50:19+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/0f7ce4ee3bd146469ba900208172e8b2/thumbnail-1024-adfe774db0cd794c9bb8d8f285b2a5e654a7cf19e8a4085fcb48b9948f18283b.jpg", "description": "Financial services firms can identify outdated processes and use RegTech to improve mortgage advice oversight and customer experience.", "inLanguage": "en-GB", "articleBody": "As technology and customer expectations move quickly, financial services firms need to identify entrenched process weaknesses and adopt RegTech where it improves oversight.\n\nThere is a lot of excitement in the world of Regtech at the moment. New technologies are emerging at an incredible rate, customer expectations are evolving rapidly, and we are witnessing a growing trend of innovative solutions towards regulatory challenges.\n\nInnovation, revolution and the art of disruption\n\nEvery day when you open your inbox or browse your social accounts, you\u2019ll see updates on new technologies which are having a disruptive effect within their field.\n\nThese often catch the eye as they address an age old problem that people have become so used to that they have started accepting them without thinking. When a solution does finally come to light it feels revolutionary as you\u2019re forced to question why the old status quo was tolerated for so long.\n\nIn the financial sector, the FCA have been monitoring the changing landscape intently. They have already followed last year\u2019s Techsprint with a call to arms for input on the use of technology in the financial sector in February being re-emphasised in their 2018/9 Business Plan. This attitude should be applauded as the only thing developing as swiftly as technology is customer expectation.\n\nIdentifying the need for change\n\nBringing in change to an organisation always presents challenges which need to be overcome. Implementing new infrastructure requires careful planning and changes to internal processes can add further disruption. Perhaps the biggest difficulty though is spotting the area that needs improving to begin with as these are often so entrenched that they pass by un-noticed.\n\nLet\u2019s take a look at mortgages as a quick example. For most people, this will be the biggest financial decision of their lives: the stakes are huge. Think about the process: you have a series of conversations with a mortgage consultant who guides you through your options, notes your preferences and updates them on the system.\n\nWhen your application has been submitted and your offer issued, you must put your entire trust on this single account being thoroughly watertight and dependable: that nothing discussed with the adviser has been accidentally missed off, that you understood everything correctly and that there aren\u2019t any potential issues you weren\u2019t made aware of. The pressure on the adviser is also extremely high, with massive repercussions if procedures aren\u2019t followed in full.\n\nImplementing change\n\nTraditionally, it\u2019s a process that has potential frailties, but these are increasingly being mitigated by technical solutions. We\u2019ve seen amazing results for instance using our voice analytics software to record and analyse conversations between mortgage advisers and they\u2019re customers, which has seen huge benefits on both sides.\n\nThrough advanced AI analytics and speech recording tools, mortgage providers have been able to generate complete records covering all customer conversations (including face-to-face meetings) to demonstrate they have followed procedures correctly. It has also allowed them to zone in on potentially vulnerable customers to channel extra support intelligently to the people who need it most.\n\nMeanwhile, customers have welcomed the added peace of mind that comes with a full record of all their significant interactions. Additionally, they have benefited from having a better customer experience as advisers can focus more on what is important to customers rather than on burdensome administrative tasks which can be automated.\n\nKeeping Pace\n\nIt can be difficult, but it pays to try and take a step back and look at where processes might have become outdated. The technology that wasn\u2019t available a few years ago will be taken for granted in no time at all, which is why it is so important for organisations to adopt the latest solutions to avoid the risk of falling behind the competition. The only thing developing as fast as the technology is the customer expectation.", "wordCount": 634, "keywords": [ "Banking", "Utilities", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Utilities", "url": "https://recordsure.com/sector/utilities/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech change" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Utilities" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA TechSprint", "url": "https://www.fca.org.uk/events/techsprints/model-driven-machine-executable-regulatory-reporting-techsprint" }, { "@type": "CreativeWork", "name": "FCA call for input on technology and regulatory reporting", "url": "https://www.fca.org.uk/news/press-releases/fca-launches-call-input-use-technology-achieve-smarter-regulatory-reporting" }, { "@type": "CreativeWork", "name": "FCA Business Plan 2018/9", "url": "https://www.fca.org.uk/publication/business-plans/business-plan-2018-19.pdf" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "text": "There is a lot of excitement in the world of Regtech at the moment. New technologies are emerging at an incredible rate, customer expectations are evolving rapidly, and we are witnessing a growing trend of innovative solutions towards regulatory challenges." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "headline": "Innovation, revolution and the art of disruption", "text": "Every day when you open your inbox or browse your social accounts, you\u2019ll see updates on new technologies which are having a disruptive effect within their field.\n\nThese often catch the eye as they address an age old problem that people have become so used to that they have started accepting them without thinking. When a solution does finally come to light it feels revolutionary as you\u2019re forced to question why the old status quo was tolerated for so long.\n\nIn the financial sector, the FCA have been monitoring the changing landscape intently. They have already followed last year\u2019s Techsprint with a call to arms for input on the use of technology in the financial sector in February being re-emphasised in their 2018/9 Business Plan. This attitude should be applauded as the only thing developing as swiftly as technology is customer expectation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "headline": "Identifying the need for change", "text": "Bringing in change to an organisation always presents challenges which need to be overcome. Implementing new infrastructure requires careful planning and changes to internal processes can add further disruption. Perhaps the biggest difficulty though is spotting the area that needs improving to begin with as these are often so entrenched that they pass by un-noticed.\n\nLet\u2019s take a look at mortgages as a quick example. For most people, this will be the biggest financial decision of their lives: the stakes are huge. Think about the process: you have a series of conversations with a mortgage consultant who guides you through your options, notes your preferences and updates them on the system.\n\nWhen your application has been submitted and your offer issued, you must put your entire trust on this single account being thoroughly watertight and dependable: that nothing discussed with the adviser has been accidentally missed off, that you understood everything correctly and that there aren\u2019t any potential issues you weren\u2019t made aware of. The pressure on the adviser is also extremely high, with massive repercussions if procedures aren\u2019t followed in full." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "headline": "Implementing change", "text": "Traditionally, it\u2019s a process that has potential frailties, but these are increasingly being mitigated by technical solutions. We\u2019ve seen amazing results for instance using our voice analytics software to record and analyse conversations between mortgage advisers and they\u2019re customers, which has seen huge benefits on both sides.\n\nThrough advanced AI analytics and speech recording tools, mortgage providers have been able to generate complete records covering all customer conversations (including face-to-face meetings) to demonstrate they have followed procedures correctly. It has also allowed them to zone in on potentially vulnerable customers to channel extra support intelligently to the people who need it most.\n\nMeanwhile, customers have welcomed the added peace of mind that comes with a full record of all their significant interactions. Additionally, they have benefited from having a better customer experience as advisers can focus more on what is important to customers rather than on burdensome administrative tasks which can be automated." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "headline": "Keeping Pace", "text": "It can be difficult, but it pays to try and take a step back and look at where processes might have become outdated. The technology that wasn\u2019t available a few years ago will be taken for granted in no time at all, which is why it is so important for organisations to adopt the latest solutions to avoid the risk of falling behind the competition. The only thing developing as fast as the technology is the customer expectation." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/regtech-identifying-need-change/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What FCA activity is mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA activity includes a TechSprint, a call for input on technology and the FCA\u2019s 2018/9 Business Plan." } }, { "@type": "Question", "name": "Why can identifying change be difficult?", "acceptedAnswer": { "@type": "Answer", "text": "Weak processes can become so entrenched that they pass unnoticed." } }, { "@type": "Question", "name": "Why use mortgages as an example?", "acceptedAnswer": { "@type": "Answer", "text": "Mortgages are often the biggest financial decision of a customer\u2019s life and depend on dependable advice records." } }, { "@type": "Question", "name": "How can voice analytics help?", "acceptedAnswer": { "@type": "Answer", "text": "Voice analytics can record and analyse conversations, create complete records and help firms focus support on potentially vulnerable customers." } } ] } ] } ``` ### Female Founders Trade Mission – the what, the who, the where, the why - URL: https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/ - Published: 2018-05-02 - Modified: 2026-10-09 **Topic:** Female founders What the Female Founders Trade Mission involves, who is taking part, when it happens and why international knowledge sharing matters for women-led technology firms. #### Key points - UK-based companies will tour Silicon Valley for networking and knowledge sharing. - Recordsure is among 15 fast-growing London women-led technology companies taking part. - The mission forms part of the #BehindEveryGreatCity campaign for gender equality in business. - A reciprocal mission will bring American entrepreneurs to London later in the year. With the Female Founders Trade Mission to Silicon Valley fast approaching, we take a closer look at the event and its significance. #### What is the Female Founders Trade Mission? Organised by *London & Partners* and *Silicon Valley Comes to the UK*, the trade mission will see UK-based companies touring Silicon Valley with a jam-packed schedule including everything from networking events through to knowledge sharing sessions with some of the leading names in the tech space. Later in the year, the tables will turn and a group of entrepreneurs from America will visit London for a reciprocal mission. #### Who else is going? Recordsure will be among 15 of London’s fastest-growing women-led tech companies. The mission is part of the #BehindEveryGreatCity campaign launched by the Mayor of London, Sadiq Khan, geared towards fighting for gender equality and championing women’s roles in business. Representing the UK are some of London’s most exciting high-growth and disruptive tech organisations. #### When is it? The mission will take place from 8 – 12 May. #### Why we’re so excited The Female Founders Trade Mission offers a special opportunity to share knowledge and ideas with some of the most dynamic business leaders to come out of Silicon Valley. At Recordsure, we’ve always strived to innovate, and ventures like these bring like-minded people together and create an environment that naturally promotes fresh thinking. The business challenges faced overseas are often similar to those faced closer to home, and it is fascinating to learn about the different approaches being adopted. With so many solutions now tech driven and universally applicable regardless of geography or borders, international networking opportunities like this are more valuable than ever. For further information on the Female Founders Trade Mission, visit [London & Partners](http://gotogrow.london/insight-and-case-studies/female-founders-2018) and follow us on social media for updates on all the action. #### Supporting sources - [London & Partners](http://gotogrow.london/insight-and-case-studies/female-founders-2018) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Later in the year, the tables will turn and a group of entrepreneurs from America will visit London for a reciprocal mission.\n\nWho else is going?\n\nRecordsure will be among 15 of London\u2019s fastest-growing women-led tech companies. The mission is part of the #BehindEveryGreatCity campaign launched by the Mayor of London, Sadiq Khan, geared towards fighting for gender equality and championing women\u2019s roles in business. Representing the UK are some of London\u2019s most exciting high-growth and disruptive tech organisations.\n\nWhen is it?\n\nThe mission will take place from 8 \u2013 12 May.\n\nWhy we\u2019re so excited\n\nThe Female Founders Trade Mission offers a special opportunity to share knowledge and ideas with some of the most dynamic business leaders to come out of Silicon Valley. At Recordsure, we\u2019ve always strived to innovate, and ventures like these bring like-minded people together and create an environment that naturally promotes fresh thinking.\n\nThe business challenges faced overseas are often similar to those faced closer to home, and it is fascinating to learn about the different approaches being adopted. 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Later in the year, the tables will turn and a group of entrepreneurs from America will visit London for a reciprocal mission." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#webpage" }, "inLanguage": "en-GB", "headline": "Who else is going?", "text": "Recordsure will be among 15 of London\u2019s fastest-growing women-led tech companies. The mission is part of the #BehindEveryGreatCity campaign launched by the Mayor of London, Sadiq Khan, geared towards fighting for gender equality and championing women\u2019s roles in business. Representing the UK are some of London\u2019s most exciting high-growth and disruptive tech organisations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#webpage" }, "inLanguage": "en-GB", "headline": "When is it?", "text": "The mission will take place from 8 \u2013 12 May." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#webpage" }, "inLanguage": "en-GB", "headline": "Why we\u2019re so excited", "text": "The Female Founders Trade Mission offers a special opportunity to share knowledge and ideas with some of the most dynamic business leaders to come out of Silicon Valley. At Recordsure, we\u2019ve always strived to innovate, and ventures like these bring like-minded people together and create an environment that naturally promotes fresh thinking.\n\nThe business challenges faced overseas are often similar to those faced closer to home, and it is fascinating to learn about the different approaches being adopted. With so many solutions now tech driven and universally applicable regardless of geography or borders, international networking opportunities like this are more valuable than ever.\n\nFor further information on the Female Founders Trade Mission, visit London & Partners and follow us on social media for updates on all the action." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/female-founders-trade-mission/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who organised the Female Founders Trade Mission?", "acceptedAnswer": { "@type": "Answer", "text": "London & Partners and Silicon Valley Comes to the UK organised the mission." } }, { "@type": "Question", "name": "How many women-led companies joined Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure was among 15 fast-growing London women-led technology companies taking part." } }, { "@type": "Question", "name": "When did the mission take place?", "acceptedAnswer": { "@type": "Answer", "text": "The mission took place from 8 \u2013 12 May." } } ] } ] } ``` ### Firms behind the curve in purchasing technology to comply with MiFID II - URL: https://recordsure.com/insights/analysis-and-perspective/firms-behind-curve-purchasing-technology-comply-mifid-ii/ - Published: 2018-01-08 - Modified: 2026-10-09 **Topic:** MiFID II evidence Many firms still needed technology to evidence MiFID II compliance, particularly for face-to-face, field-based and telephone advice where monitoring expectations were less clear. #### Key points - Heavy regulatory change had overloaded many compliance functions. - More compliance staff did not remove technology gaps in evidencing MiFID II compliance. - Recordsure’s CTO identified gaps in face-to-face and some telephone advice monitoring. - Recording and retrieval tools can help evidence compliance and reduce manual processes. The wealth of regulatory change that financial services institutions have needed to comply with over the past two years has resulted in an overload of many compliance functions. As a result, many firms are in the unenviable position of being behind the MiFID II curve with pockets of residual activity that still need to be undertaken. Despite an increase in compliance staff on the ground to achieve the required changes, there remains a gap in implementation of technology which will help firms provide evidence of compliance with MiFID II. Many financial institutions are only just, with the deadline now behind us, rushing to buy recording tools to make sure staff comply with the rules. #### Technology gaps after MiFID II Speaking to S&P Global in December, Kit Ruparel, CTO of Recordsure, said “The banks are, in general, ready for complying with MiFID II on remote advice. However, when it comes to face-to-face advice, particularly that which is conducted out in the field, in the business banking, private banking, and wealth management sectors, there is a real gap. There is also a gap when it comes to telephone conversations that may or may not constitute financial advice … regulators have not been great at communicating how much monitoring is required.” We have seen an increase in the number of firms investigating recording solutions, such as Recordsure, that will facilitate quick recording and easy retrieval of the conversations that relate to a transaction. This ‘belt-and-braces’ approach ensures firms can not only evidence compliance with MiFID II, but can rely upon an authentic and accurate recording mechanism that does away with manual processes. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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As a result, many firms are in the unenviable position of being behind the MiFID II curve with pockets of residual activity that still need to be undertaken.\n\nDespite an increase in compliance staff on the ground to achieve the required changes, there remains a gap in implementation of technology which will help firms provide evidence of compliance with MiFID II. Many financial institutions are only just, with the deadline now behind us, rushing to buy recording tools to make sure staff comply with the rules.\n\nTechnology gaps after MiFID II\n\nSpeaking to S&P Global in December, Kit Ruparel, CTO of Recordsure, said \u201cThe banks are, in general, ready for complying with MiFID II on remote advice. However, when it comes to face-to-face advice, particularly that which is conducted out in the field, in the business banking, private banking, and wealth management sectors, there is a real gap. There is also a gap when it comes to telephone conversations that may or may not constitute financial advice \u2026 regulators have not been great at communicating how much monitoring is required.\u201d\n\nWe have seen an increase in the number of firms investigating recording solutions, such as Recordsure, that will facilitate quick recording and easy retrieval of the conversations that relate to a transaction. 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There is also a gap when it comes to telephone conversations that may or may not constitute financial advice \u2026 regulators have not been great at communicating how much monitoring is required.\u201d\n\nWe have seen an increase in the number of firms investigating recording solutions, such as Recordsure, that will facilitate quick recording and easy retrieval of the conversations that relate to a transaction. This \u2018belt-and-braces\u2019 approach ensures firms can not only evidence compliance with MiFID II, but can rely upon an authentic and accurate recording mechanism that does away with manual processes." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/firms-behind-curve-purchasing-technology-comply-mifid-ii/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/firms-behind-curve-purchasing-technology-comply-mifid-ii/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why were firms behind the MiFID II curve?", "acceptedAnswer": { "@type": "Answer", "text": "Regulatory change overloaded compliance teams and left residual MiFID II work still to complete." } }, { "@type": "Question", "name": "Where did Recordsure identify gaps?", "acceptedAnswer": { "@type": "Answer", "text": "Kit Ruparel identified gaps in face-to-face advice, field-based advice and telephone conversations that may constitute financial advice." } }, { "@type": "Question", "name": "How can recording tools help?", "acceptedAnswer": { "@type": "Answer", "text": "They can record and retrieve transaction-related conversations and provide an authentic evidence mechanism without manual processes." } } ] } ] } ``` ### Customer experience is critical for business success - URL: https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/ - Published: 2017-11-23 - Modified: 2026-10-09 **Topic:** Customer experience Customer experience matters because products and pricing may not be enough to differentiate financial services firms. Loyalty, reputation and operational reliability all depend on experiences that meet customer expectations. #### Key points - Customer experience is a commercial differentiator where products and pricing are similar. - Retention can be valuable, with cited research linking a 5% retention increase to more than 25% profit growth. - Poor back-office processes can damage customer experience and reputation. - Financial services firms can learn from aviation failures and customer-centred businesses. **The age-old business mantra ‘the customer is king’ may be an overused cliché from decades past, but its basic tenet of customer centricity is more relevant than ever. Delivering an exceptional customer experience is critical for ongoing business success, and here’s why it should be at the top of your priorities.** 1. **It’s the new commercial battleground** In today’s financial services industry, there’s often little distinction between products and pricing across competitors, so standout service and a clear experience can really clinch the deal for your customers. For firms looking to boost their satisfaction levels, a relatively unengaged customer base is another significant hurdle to overcome. What can we learn from other industries? Amazon has dominated the customer experience revolution since the company’s formation in the mid-nineties. The key to Amazon’s success? According to CEO Jeff Bezos, it’s their ‘obsession’ with customers – truly understanding them, imagining what they want even before they do, and reaping the benefits as a result. 1. **Increase customer loyalty** Retaining customers is highly valuable – [research](http://www.bain.com/Images/BB_Prescription_cutting_costs.pdf) suggests that just a 5% increase in customer retention generates more than a 25% increase in profit. For consumers in the mortgage market, it almost always pays to switch providers when the fixed-rate deal ends, and digital innovations and increased choice means customers are more empowered than ever. Want to discourage your customers from switching? Creating an experience that exceeds your customers’ expectations and, crucially, rewards loyalty will ensure they will want to continue doing business with you. 1. **Protect your reputation** Earlier this year, British Airways (BA) flights from London Heathrow and Gatwick airports ground to a halt after an electrical contractor accidentally damaged their servers and the back-up systems failed, proving that customer experience extends beyond your front-line staff to include everyone with the potential to influence it, including contractors. Despite a relatively strong brand, YouGov estimated that BA’s ‘Index’ score, which considers consumer perception on quality and value, had fallen a significant 9.5 points. The budget airline Ryanair has also recently been hit by back-office failures. Known for its competitively low fares rather than a smooth customer experience, errors in pilot rostering resulted in the cancellation of hundreds of flights. Ironically, it was only in 2014 that Ryanair launched its ‘Always Getting Better’ customer experience programme, with the airline’s boss Michael O’Leary touting “if I’d only learned in college that being nice \[to customers\] was good for business I’d have done it years ago”. However, the drop in share price following recent events shows that good customer service alone doesn’t always result in an improved customer experience, if not supported by strong back-office processes. Much like in the highly-competitive aviation industry, back office fiascos and IT debacles can result in vast expense and inconvenience for affected customers in financial services, so firms would be wise to learn from these airlines’ mistakes to avoid similar PR mishaps. **For information on how you can optimise your customer experience to ensure business success, have a read of Recordsure’s step-by-step guide.** > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Customer experience is critical for business success", "item": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/", "name": "Customer experience is critical for business success", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-11-23T09:00:36+00:00", "dateModified": "2022-06-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-06-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Customer experience is critical for business success", "datePublished": "2017-11-23T09:00:36+00:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/b35545a38c144b1a9637a0f9e82d51de/thumbnail-1024-419c6db3f00f604eec48496db981b0db6fbea21cc892f4561b677e03a9149add.jpg", "description": "Customer experience can differentiate financial services firms, improve loyalty and protect reputation when supported by reliable front-line and back-office processes.", "inLanguage": "en-GB", "articleBody": "Customer experience matters because products and pricing may not be enough to differentiate financial services firms. Loyalty, reputation and operational reliability all depend on experiences that meet customer expectations.\n\nThe age-old business mantra \u2018the customer is king\u2019 may be an overused clich\u00e9 from decades past, but its basic tenet of customer centricity is more relevant than ever. Delivering an exceptional customer experience is critical for ongoing business success, and here\u2019s why it should be at the top of your priorities.\n\n1. It\u2019s the new commercial battleground\n\nIn today\u2019s financial services industry, there\u2019s often little distinction between products and pricing across competitors, so standout service and a clear experience can really clinch the deal for your customers. For firms looking to boost their satisfaction levels, a relatively unengaged customer base is another significant hurdle to overcome. What can we learn from other industries?\n\nAmazon has dominated the customer experience revolution since the company\u2019s formation in the mid-nineties. The key to Amazon\u2019s success? According to CEO Jeff Bezos, it\u2019s their \u2018obsession\u2019 with customers \u2013 truly understanding them, imagining what they want even before they do, and reaping the benefits as a result.\n\n1. Increase customer loyalty\n\nRetaining customers is highly valuable \u2013 research suggests that just a 5% increase in customer retention generates more than a 25% increase in profit.\n\nFor consumers in the mortgage market, it almost always pays to switch providers when the fixed-rate deal ends, and digital innovations and increased choice means customers are more empowered than ever. Want to discourage your customers from switching? Creating an experience that exceeds your customers\u2019 expectations and, crucially, rewards loyalty will ensure they will want to continue doing business with you.\n\n1. Protect your reputation\n\nEarlier this year, British Airways (BA) flights from London Heathrow and Gatwick airports ground to a halt after an electrical contractor accidentally damaged their servers and the back-up systems failed, proving that customer experience extends beyond your front-line staff to include everyone with the potential to influence it, including contractors. Despite a relatively strong brand, YouGov estimated that BA\u2019s \u2018Index\u2019 score, which considers consumer perception on quality and value, had fallen a significant 9.5 points.\n\nThe budget airline Ryanair has also recently been hit by back-office failures. Known for its competitively low fares rather than a smooth customer experience, errors in pilot rostering resulted in the cancellation of hundreds of flights.\n\nIronically, it was only in 2014 that Ryanair launched its \u2018Always Getting Better\u2019 customer experience programme, with the airline\u2019s boss Michael O\u2019Leary touting \u201cif I\u2019d only learned in college that being nice [to customers] was good for business I\u2019d have done it years ago\u201d. However, the drop in share price following recent events shows that good customer service alone doesn\u2019t always result in an improved customer experience, if not supported by strong back-office processes.\n\nMuch like in the highly-competitive aviation industry, back office fiascos and IT debacles can result in vast expense and inconvenience for affected customers in financial services, so firms would be wise to learn from these airlines\u2019 mistakes to avoid similar PR mishaps.\n\nFor information on how you can optimise your customer experience to ensure business success, have a read of Recordsure\u2019s step-by-step guide.", "wordCount": 531, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Customer experience" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#analysis-1" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#webpage" }, "inLanguage": "en-GB", "text": "The age-old business mantra \u2018the customer is king\u2019 may be an overused clich\u00e9 from decades past, but its basic tenet of customer centricity is more relevant than ever. Delivering an exceptional customer experience is critical for ongoing business success, and here\u2019s why it should be at the top of your priorities.\n\n1. It\u2019s the new commercial battleground\n\nIn today\u2019s financial services industry, there\u2019s often little distinction between products and pricing across competitors, so standout service and a clear experience can really clinch the deal for your customers. For firms looking to boost their satisfaction levels, a relatively unengaged customer base is another significant hurdle to overcome. What can we learn from other industries?\n\nAmazon has dominated the customer experience revolution since the company\u2019s formation in the mid-nineties. The key to Amazon\u2019s success? According to CEO Jeff Bezos, it\u2019s their \u2018obsession\u2019 with customers \u2013 truly understanding them, imagining what they want even before they do, and reaping the benefits as a result.\n\n1. Increase customer loyalty\n\nRetaining customers is highly valuable \u2013 research suggests that just a 5% increase in customer retention generates more than a 25% increase in profit.\n\nFor consumers in the mortgage market, it almost always pays to switch providers when the fixed-rate deal ends, and digital innovations and increased choice means customers are more empowered than ever. Want to discourage your customers from switching? Creating an experience that exceeds your customers\u2019 expectations and, crucially, rewards loyalty will ensure they will want to continue doing business with you.\n\n1. Protect your reputation\n\nEarlier this year, British Airways (BA) flights from London Heathrow and Gatwick airports ground to a halt after an electrical contractor accidentally damaged their servers and the back-up systems failed, proving that customer experience extends beyond your front-line staff to include everyone with the potential to influence it, including contractors. Despite a relatively strong brand, YouGov estimated that BA\u2019s \u2018Index\u2019 score, which considers consumer perception on quality and value, had fallen a significant 9.5 points.\n\nThe budget airline Ryanair has also recently been hit by back-office failures. Known for its competitively low fares rather than a smooth customer experience, errors in pilot rostering resulted in the cancellation of hundreds of flights.\n\nIronically, it was only in 2014 that Ryanair launched its \u2018Always Getting Better\u2019 customer experience programme, with the airline\u2019s boss Michael O\u2019Leary touting \u201cif I\u2019d only learned in college that being nice [to customers] was good for business I\u2019d have done it years ago\u201d. However, the drop in share price following recent events shows that good customer service alone doesn\u2019t always result in an improved customer experience, if not supported by strong back-office processes.\n\nMuch like in the highly-competitive aviation industry, back office fiascos and IT debacles can result in vast expense and inconvenience for affected customers in financial services, so firms would be wise to learn from these airlines\u2019 mistakes to avoid similar PR mishaps.\n\nFor information on how you can optimise your customer experience to ensure business success, have a read of Recordsure\u2019s step-by-step guide." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/customer-experience-critical-business-success/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why is customer experience commercially important?", "acceptedAnswer": { "@type": "Answer", "text": "Products and pricing can be similar across competitors, so service and experience can influence customer decisions." } }, { "@type": "Question", "name": "How does customer experience affect loyalty?", "acceptedAnswer": { "@type": "Answer", "text": "Research suggests that a 5% increase in customer retention can generate more than a 25% increase in profit." } }, { "@type": "Question", "name": "Why do back-office processes matter?", "acceptedAnswer": { "@type": "Answer", "text": "Back-office failures and IT problems can damage reputation and customer experience, as the aviation examples show." } } ] } ] } ``` ### Recordsure Demo: see it in action - URL: https://recordsure.com/insights/analysis-and-perspective/recordsure-demo-see-action/ - Published: 2017-11-15 - Modified: 2026-10-09 **Topic:** Recordsure demo The Recordsure demonstration gives a quick overview of the platform’s key components and how its capabilities work in practice. #### Key points - Watch a Recordsure demonstration for a quick overview of the platform. - The demo covers the key components of Recordsure. - A full demonstration can show how the capabilities work in practice for your organisation. Watch the Recordsure demonstration for a quick overview of the key components of Recordsure. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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components of Recordsure." } }, { "@type": "Question", "name": "How can firms see more detail?", "acceptedAnswer": { "@type": "Answer", "text": "A full demonstration can show how Recordsure capabilities work in practice for an organisation." } } ] } ] } ``` ### 6 Top Tips for Choosing the Perfect RegTech Solution - URL: https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/ - Published: 2017-11-08 - Modified: 2026-10-09 **Topic:** RegTech selection A RegTech selection process should involve the right teams, test different providers and prove value before major technology investment. #### Key points - RegTech selection should involve risk, operations, sales and marketing representatives. - Firms should look beyond familiar vendors and remain open to different approaches. - Adaptability and proof of value are central before committing significant investment. **Whether it be the cost of compliance monitoring, too many complaints or cumbersome reporting procedures, every firm has its own specific pain points. Finding a RegTech solution that is able to address your key issues while providing additional cross-departmental value will free up significant time and resources, and ultimately deliver a higher return on investment.** With the RegTech market expanding, Recordsure’s [Jonathan Drechsler](/why-recordsure/) outlines his top tips for focusing the search and finding the best RegTech providers for a business. #### Involve a cross-section of people The benefits of a RegTech solution are likely to be wider than expected. Solutions initially sought to solve compliance and regulation problems may also help other business areas. Sales, marketing and distribution teams can often use RegTech to drive efficiencies in back-office systems, streamline the customer journey and derive greater insight from the customer experience. Ensuring representatives from risk, operations, sales and marketing are involved can help the chosen solution deliver benefits across the whole company. #### Look beyond the established market FinTech and RegTech are about digital disruption. Seeking technology to reduce costs and improve efficiency is unlikely to succeed if firms speak only to the same companies or use an outdated approach. Newer vendors may bring a different view of business objectives and pain points. #### Approach your search with an open mind As well as considering market disruptors, firms should avoid relying only on a predefined checklist of desired functionality and invite vendors to demonstrate product capabilities. They may find functionality they did not know existed. It is also worth speaking to counterparts and competitors to gauge the market and understand what works for others. #### Be brave Try new technologies, remain open to different approaches and don’t be afraid to fail. Keep testing technologies to discover what works, then commit adequate financial resources to the one that does. #### Ensure adaptability History and burdensome legacy systems show that technology needs to adapt to changing regulation, technological advances and evolving business needs. Firms should seek continuous improvement from vendors so the product maintains its viability throughout the contract term. Newer, smaller RegTech providers may be able to move faster than larger providers. Off-the-shelf products from larger providers are convenient, but there is often an assumption that the technology is fit for purpose and will remain so. Smaller, more agile providers are likely to work in partnership to customise and adapt solutions over time. #### Prove its worth This is the most important part of the process. Firms should have a clear set of efficiencies that each vendor needs to demonstrate, then create a focused proof of concept around a ring-fenced area of the organisation, building in early and frequent test points to ensure key requirements are met. Only then can firms start to build a solid business case before committing to significant investment. Choosing a RegTech solution that is adequate now and in the future can be challenging. Recordsure had also been recognised in the RegTech 100, a listing of the “world’s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues.” > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Finding a RegTech solution that is able to address your key issues while providing additional cross-departmental value will free up significant time and resources, and ultimately deliver a higher return on investment.\n\nWith the RegTech market expanding, Recordsure\u2019s Jonathan Drechsler outlines his top tips for focusing the search and finding the best RegTech providers for a business.\n\nInvolve a cross-section of people\n\nThe benefits of a RegTech solution are likely to be wider than expected. Solutions initially sought to solve compliance and regulation problems may also help other business areas. Sales, marketing and distribution teams can often use RegTech to drive efficiencies in back-office systems, streamline the customer journey and derive greater insight from the customer experience.\n\nEnsuring representatives from risk, operations, sales and marketing are involved can help the chosen solution deliver benefits across the whole company.\n\nLook beyond the established market\n\nFinTech and RegTech are about digital disruption. Seeking technology to reduce costs and improve efficiency is unlikely to succeed if firms speak only to the same companies or use an outdated approach. Newer vendors may bring a different view of business objectives and pain points.\n\nApproach your search with an open mind\n\nAs well as considering market disruptors, firms should avoid relying only on a predefined checklist of desired functionality and invite vendors to demonstrate product capabilities. They may find functionality they did not know existed. It is also worth speaking to counterparts and competitors to gauge the market and understand what works for others.\n\nBe brave\n\nTry new technologies, remain open to different approaches and don\u2019t be afraid to fail. Keep testing technologies to discover what works, then commit adequate financial resources to the one that does.\n\nEnsure adaptability\n\nHistory and burdensome legacy systems show that technology needs to adapt to changing regulation, technological advances and evolving business needs. Firms should seek continuous improvement from vendors so the product maintains its viability throughout the contract term.\n\nNewer, smaller RegTech providers may be able to move faster than larger providers. Off-the-shelf products from larger providers are convenient, but there is often an assumption that the technology is fit for purpose and will remain so. Smaller, more agile providers are likely to work in partnership to customise and adapt solutions over time.\n\nProve its worth\n\nThis is the most important part of the process. Firms should have a clear set of efficiencies that each vendor needs to demonstrate, then create a focused proof of concept around a ring-fenced area of the organisation, building in early and frequent test points to ensure key requirements are met.\n\nOnly then can firms start to build a solid business case before committing to significant investment. Choosing a RegTech solution that is adequate now and in the future can be challenging.\n\nRecordsure had also been recognised in the RegTech 100, a listing of the \u201cworld\u2019s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues.\u201d", "wordCount": 531, "keywords": [ "Government", "Payments and FinTech", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Government", "url": "https://recordsure.com/sector/government/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "RegTech selection" } ], "audience": [ { "@type": "Audience", "audienceType": "Government" }, { "@type": "Audience", "audienceType": "Payments and FinTech" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-6" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-7" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "text": "Whether it be the cost of compliance monitoring, too many complaints or cumbersome reporting procedures, every firm has its own specific pain points. Finding a RegTech solution that is able to address your key issues while providing additional cross-departmental value will free up significant time and resources, and ultimately deliver a higher return on investment.\n\nWith the RegTech market expanding, Recordsure\u2019s Jonathan Drechsler outlines his top tips for focusing the search and finding the best RegTech providers for a business." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Involve a cross-section of people", "text": "The benefits of a RegTech solution are likely to be wider than expected. Solutions initially sought to solve compliance and regulation problems may also help other business areas. Sales, marketing and distribution teams can often use RegTech to drive efficiencies in back-office systems, streamline the customer journey and derive greater insight from the customer experience.\n\nEnsuring representatives from risk, operations, sales and marketing are involved can help the chosen solution deliver benefits across the whole company." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Look beyond the established market", "text": "FinTech and RegTech are about digital disruption. Seeking technology to reduce costs and improve efficiency is unlikely to succeed if firms speak only to the same companies or use an outdated approach. Newer vendors may bring a different view of business objectives and pain points." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Approach your search with an open mind", "text": "As well as considering market disruptors, firms should avoid relying only on a predefined checklist of desired functionality and invite vendors to demonstrate product capabilities. They may find functionality they did not know existed. It is also worth speaking to counterparts and competitors to gauge the market and understand what works for others." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Be brave", "text": "Try new technologies, remain open to different approaches and don\u2019t be afraid to fail. Keep testing technologies to discover what works, then commit adequate financial resources to the one that does." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Ensure adaptability", "text": "History and burdensome legacy systems show that technology needs to adapt to changing regulation, technological advances and evolving business needs. Firms should seek continuous improvement from vendors so the product maintains its viability throughout the contract term.\n\nNewer, smaller RegTech providers may be able to move faster than larger providers. 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Firms should have a clear set of efficiencies that each vendor needs to demonstrate, then create a focused proof of concept around a ring-fenced area of the organisation, building in early and frequent test points to ensure key requirements are met.\n\nOnly then can firms start to build a solid business case before committing to significant investment. Choosing a RegTech solution that is adequate now and in the future can be challenging.\n\nRecordsure had also been recognised in the RegTech 100, a listing of the \u201cworld\u2019s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues.\u201d" }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/6-top-tips-choosing-perfect-regtech-solution/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Who should be involved in choosing RegTech?", "acceptedAnswer": { "@type": "Answer", "text": "Involve a cross-section of people from risk, operations, sales and marketing." } }, { "@type": "Question", "name": "Why should firms use a proof of concept?", "acceptedAnswer": { "@type": "Answer", "text": "A focused proof of concept helps test efficiencies and build a business case before significant investment." } } ] } ] } ``` ### Recordsure Selected as Part of RegTech 100 - URL: https://recordsure.com/insights/news/recordsure-selected-part-regtech-100/ - Published: 2017-11-01 - Modified: 2026-10-09 **Topic:** RegTech 100 Recordsure was recognised in the RegTech 100, compiled by FinTech Global with input from industry experts. The list identifies technology providers addressing regulatory issues for financial institutions. #### Key points - Recordsure was recognised in the RegTech 100. - FinTech Global compiled the list with a panel of industry experts. - More than 400 RegTech companies were reviewed for inclusion. - The list was launched alongside a report on sector developments and opportunities. Recordsure continued to establish a reputation among regtech companies worldwide when it was recognised in the RegTech 100, a listing of the world’s most innovative providers of technology solutions that address the challenges and opportunities of dealing with regulatory issues. #### How the RegTech 100 was compiled The RegTech 100 list is compiled by FinTech Global, a data and research firm. A panel of industry experts reviewed more than 400 RegTech companies to identify those with particular capacity to generate efficiencies and performance enhancements across the compliance function within financial institutions. Companies on the RegTech 100 list are described as those that every financial institution needs to know about in 2018. The list was launched alongside a major report on recent developments and growing opportunities in the sector. The full RegTech 100 list can be seen at [http://www.regtech100.com/](http://www.regtech100.com/). Recordsure was pleased to be included among peer companies in the fast-growing sector. #### Supporting sources - [RegTech 100](http://www.regtech100.com/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Recordsure is introduced as a new solution that helps organisations make every conversation count by turning business conversations into practical insight. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": 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delivers its potential. For a while, the rise of artificial intelligence has been accompanied by fear of a “Robopocalypse”: a new order in which machines take over and automation cuts many jobs. Technology and AI have had, and will continue to have, a profound effect on the financial services industry. Innovation still relies on people, which makes the practical effect of AI on the financial services job market important. #### The shifting job market Some financial services jobs are more exposed to automation, such as bookkeepers. However, financial services is also one of the most dynamic industries, and some estimates suggest that the number of new jobs created is roughly equal to those destroyed. Areas where recruitment has grown include software development, project management, marketing and compliance. #### Harmonising AI with human intelligence Within RegTech, there can be an assumption that artificial intelligence and human intelligence are mutually exclusive. Recordsure does not see it that way. Firms should never be 100% reliant on technology for compliance or any other critical part of their operation. Financial services often produces scenarios that cannot be neatly boxed into categories, as well as customers who do not fit a standard model. Emotional intelligence and sound judgement from staff will therefore remain necessary. #### Creating efficiencies and improving standards AI has reduced some tasks carried out by humans. Speech analytics technologies, for example, can reduce the burden of time-consuming monitoring activity. But many RegTech solutions are designed to enhance human capability by increasing spans of control and offering a more complete view of customer interactions. Solutions can flag what bad looks like and what good looks like, but it is for an organisation to decide how that insight is used to reduce risk and improve customer experience outcomes. Human experience and insight are also essential if firms want to use RegTech effectively. Off-the-shelf solutions may reduce operating costs, but technological systems are only as good as the human oversight and controls placed on them. Firms that want the true potential of AI to be realised need to look beyond cost reduction and keep customising solutions for their businesses, adapting to future change as needed. Using human expertise to steer technology in the right direction will remain key to success. As the RegTech revolution develops, the human workforce will be bolstered by AI, leading to better customer outcomes. More widely, financial services job categories will shift towards more specialist, technology-enabled roles, with AI opening opportunity in specific fields. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. 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Technology and AI have had, and will continue to have, a profound effect on the financial services industry. Innovation still relies on people, which makes the practical effect of AI on the financial services job market important.\n\nThe shifting job market\n\nSome financial services jobs are more exposed to automation, such as bookkeepers. However, financial services is also one of the most dynamic industries, and some estimates suggest that the number of new jobs created is roughly equal to those destroyed. Areas where recruitment has grown include software development, project management, marketing and compliance.\n\nHarmonising AI with human intelligence\n\nWithin RegTech, there can be an assumption that artificial intelligence and human intelligence are mutually exclusive. Recordsure does not see it that way. Firms should never be 100% reliant on technology for compliance or any other critical part of their operation.\n\nFinancial services often produces scenarios that cannot be neatly boxed into categories, as well as customers who do not fit a standard model. Emotional intelligence and sound judgement from staff will therefore remain necessary.\n\nCreating efficiencies and improving standards\n\nAI has reduced some tasks carried out by humans. Speech analytics technologies, for example, can reduce the burden of time-consuming monitoring activity. But many RegTech solutions are designed to enhance human capability by increasing spans of control and offering a more complete view of customer interactions.\n\nSolutions can flag what bad looks like and what good looks like, but it is for an organisation to decide how that insight is used to reduce risk and improve customer experience outcomes.\n\nHuman experience and insight are also essential if firms want to use RegTech effectively. Off-the-shelf solutions may reduce operating costs, but technological systems are only as good as the human oversight and controls placed on them. Firms that want the true potential of AI to be realised need to look beyond cost reduction and keep customising solutions for their businesses, adapting to future change as needed.\n\nUsing human expertise to steer technology in the right direction will remain key to success. As the RegTech revolution develops, the human workforce will be bolstered by AI, leading to better customer outcomes. More widely, financial services job categories will shift towards more specialist, technology-enabled roles, with AI opening opportunity in specific fields.", "wordCount": 427, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI and jobs" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#webpage" }, "inLanguage": "en-GB", "text": "For a while, the rise of artificial intelligence has been accompanied by fear of a \u201cRobopocalypse\u201d: a new order in which machines take over and automation cuts many jobs. Technology and AI have had, and will continue to have, a profound effect on the financial services industry. Innovation still relies on people, which makes the practical effect of AI on the financial services job market important." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#webpage" }, "inLanguage": "en-GB", "headline": "The shifting job market", "text": "Some financial services jobs are more exposed to automation, such as bookkeepers. However, financial services is also one of the most dynamic industries, and some estimates suggest that the number of new jobs created is roughly equal to those destroyed. Areas where recruitment has grown include software development, project management, marketing and compliance." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#webpage" }, "inLanguage": "en-GB", "headline": "Harmonising AI with human intelligence", "text": "Within RegTech, there can be an assumption that artificial intelligence and human intelligence are mutually exclusive. Recordsure does not see it that way. Firms should never be 100% reliant on technology for compliance or any other critical part of their operation.\n\nFinancial services often produces scenarios that cannot be neatly boxed into categories, as well as customers who do not fit a standard model. Emotional intelligence and sound judgement from staff will therefore remain necessary." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#webpage" }, "inLanguage": "en-GB", "headline": "Creating efficiencies and improving standards", "text": "AI has reduced some tasks carried out by humans. Speech analytics technologies, for example, can reduce the burden of time-consuming monitoring activity. But many RegTech solutions are designed to enhance human capability by increasing spans of control and offering a more complete view of customer interactions.\n\nSolutions can flag what bad looks like and what good looks like, but it is for an organisation to decide how that insight is used to reduce risk and improve customer experience outcomes.\n\nHuman experience and insight are also essential if firms want to use RegTech effectively. Off-the-shelf solutions may reduce operating costs, but technological systems are only as good as the human oversight and controls placed on them. Firms that want the true potential of AI to be realised need to look beyond cost reduction and keep customising solutions for their businesses, adapting to future change as needed.\n\nUsing human expertise to steer technology in the right direction will remain key to success. As the RegTech revolution develops, the human workforce will be bolstered by AI, leading to better customer outcomes. More widely, financial services job categories will shift towards more specialist, technology-enabled roles, with AI opening opportunity in specific fields." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ai-really-putting-jobs-risk/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Will AI remove the need for people?", "acceptedAnswer": { "@type": "Answer", "text": "No. It says AI changes tasks and roles, but emotional intelligence, judgement, oversight and expertise remain essential." } }, { "@type": "Question", "name": "Which financial services roles are growing?", "acceptedAnswer": { "@type": "Answer", "text": "Recruitment has grown in software development, project management, marketing and compliance roles." } }, { "@type": "Question", "name": "How can RegTech improve compliance work?", "acceptedAnswer": { "@type": "Answer", "text": "It can reduce time-consuming monitoring, increase spans of control and provide a more complete view of customer interactions." } } ] } ] } ``` ### NatWest trials Recordsure solution! - URL: https://recordsure.com/insights/news/natwest-trials-recordsure-solution/ - Published: 2017-06-29 - Modified: 2026-10-09 **Topic:** NatWest trial NatWest is trialling Recordsure technology to record, secure and analyse regulated customer conversations. The trial focuses on improving service quality, compliance oversight and customer confidence. #### Key points - NatWest is testing Recordsure during regulated customer conversations, including some mortgage adviser interactions. - The technology records, encrypts and uploads conversations to secure cloud storage in real time. - Conversation analysis identifies disclosures, advice, general discussion and topics that may not have been covered. - Recordsure says the approach can create efficiencies in compliance monitoring processes. NatWest is trialling technology to give customers confidence that they are receiving suitable information and advice. The bank has partnered with Recordsure to explore how its RegTech recording and analysis solution could improve and monitor the quality of information and advice provided during regulated customer conversations. With customer consent, Recordsure records face-to-face and telephone conversations, encrypts them and uploads the audio to the secure cloud in real time. The approach is designed to make the data difficult to tamper with, and the system sends an alert if the microphone is disconnected or if there is a long period of silence. #### Secure records and conversation analysis Customers and staff can listen back to conversations, which are securely stored on servers at former UK and US military facilities built to protect data and people in the event of a nuclear attack. The artificial intelligence technology analyses an interaction and classifies sections of the conversation. It can identify where a customer was given initial disclosures, which parts were financial advice, and which parts were general chitchat. It can also identify whether certain topics or issues have not been discussed. The technology is constantly learning and improving its understanding of interactions and context. #### Customer confidence and compliance oversight Les Matheson, CEO of Personal and Business Banking, said NatWest wanted to restore trust and give customers complete confidence in the bank. He linked the trial to earlier changes, including scrapping bonuses for frontline staff so customers would know advice was based on their needs rather than commission, and said the bank looked forward to seeing how the trial could improve its service. Joanne Smith, CEO of Recordsure, said NatWest had seen first hand how the technology could provide a better customer experience and improve compliance oversight for staff. She said Recordsure could create significant efficiencies in banks’ compliance monitoring processes, resulting in up to a 50% reduction in compliance costs, which would give staff more time to spend proactively helping customers. She also said the technology would help NatWest become better at living up to the high standards of compliance and conduct it had committed to. #### Trial scope and wider NatWest innovation NatWest is currently trialling Recordsure technology with some of its mortgage advisors and is considering how it could improve customer experience in other parts of the bank where regulated conversations take place. The trial is the latest in a series of NatWest innovations introduced this year. In February the bank launched NatWest Invest, a self-service online investment service available to customers 24×7. It has also introduced paperless online processes that have cut account opening and SME lending applications from days to minutes. The story was also featured by FT Adviser and Banking Tech, with links to the published coverage included as supporting sources. #### Supporting sources - [NatWest trials artificial intelligence for advice compliance](https://www.ftadviser.com/mortgages/2017/06/29/natwest-trials-artificial-intelligence-for-advice-compliance/) - [NatWest pilots AI compliance technology with Recordsure](https://www.fintechfutures.com/2017/06/natwest-pilots-ai-compliance-technology-with-recordsure/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "NatWest trials Recordsure solution!", "item": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage", "url": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/", "name": "NatWest trials Recordsure solution!", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-06-29T11:21:39+01:00", "dateModified": "2023-06-23T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2023-06-23" }, { "@type": "NewsArticle", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#article", "isPartOf": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "NatWest trials Recordsure solution!", "datePublished": "2017-06-29T11:21:39+01:00", "dateModified": "2026-10-09T04:50:30+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/47131cf3d5964bf99d8c34f27e78d027/thumbnail-1600-46ef168df134cd6a4c7887bacb3f9fe0fdb9677788f6ad10b9d60545049654be.jpg", "description": "NatWest is trialling Recordsure technology to monitor regulated customer conversations, improve the quality of information and advice, and strengthen confidence for customers and staff.", "inLanguage": "en-GB", "articleBody": "NatWest is trialling Recordsure technology to record, secure and analyse regulated customer conversations. The trial focuses on improving service quality, compliance oversight and customer confidence.\n\nNatWest is trialling technology to give customers confidence that they are receiving suitable information and advice. The bank has partnered with Recordsure to explore how its RegTech recording and analysis solution could improve and monitor the quality of information and advice provided during regulated customer conversations.\n\nWith customer consent, Recordsure records face-to-face and telephone conversations, encrypts them and uploads the audio to the secure cloud in real time. The approach is designed to make the data difficult to tamper with, and the system sends an alert if the microphone is disconnected or if there is a long period of silence.\n\nSecure records and conversation analysis\n\nCustomers and staff can listen back to conversations, which are securely stored on servers at former UK and US military facilities built to protect data and people in the event of a nuclear attack.\n\nThe artificial intelligence technology analyses an interaction and classifies sections of the conversation. It can identify where a customer was given initial disclosures, which parts were financial advice, and which parts were general chitchat. It can also identify whether certain topics or issues have not been discussed. 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She also said the technology would help NatWest become better at living up to the high standards of compliance and conduct it had committed to.\n\nTrial scope and wider NatWest innovation\n\nNatWest is currently trialling Recordsure technology with some of its mortgage advisors and is considering how it could improve customer experience in other parts of the bank where regulated conversations take place.\n\nThe trial is the latest in a series of NatWest innovations introduced this year. In February the bank launched NatWest Invest, a self-service online investment service available to customers 24\u00d77. 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The bank has partnered with Recordsure to explore how its RegTech recording and analysis solution could improve and monitor the quality of information and advice provided during regulated customer conversations.\n\nWith customer consent, Recordsure records face-to-face and telephone conversations, encrypts them and uploads the audio to the secure cloud in real time. 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It can also identify whether certain topics or issues have not been discussed. The technology is constantly learning and improving its understanding of interactions and context." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Customer confidence and compliance oversight", "text": "Les Matheson, CEO of Personal and Business Banking, said NatWest wanted to restore trust and give customers complete confidence in the bank. He linked the trial to earlier changes, including scrapping bonuses for frontline staff so customers would know advice was based on their needs rather than commission, and said the bank looked forward to seeing how the trial could improve its service.\n\nJoanne Smith, CEO of Recordsure, said NatWest had seen first hand how the technology could provide a better customer experience and improve compliance oversight for staff. She said Recordsure could create significant efficiencies in banks\u2019 compliance monitoring processes, resulting in up to a 50% reduction in compliance costs, which would give staff more time to spend proactively helping customers. She also said the technology would help NatWest become better at living up to the high standards of compliance and conduct it had committed to." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "headline": "Trial scope and wider NatWest innovation", "text": "NatWest is currently trialling Recordsure technology with some of its mortgage advisors and is considering how it could improve customer experience in other parts of the bank where regulated conversations take place.\n\nThe trial is the latest in a series of NatWest innovations introduced this year. In February the bank launched NatWest Invest, a self-service online investment service available to customers 24\u00d77. It has also introduced paperless online processes that have cut account opening and SME lending applications from days to minutes.\n\nThe story was also featured by FT Adviser and Banking Tech, with links to the published coverage included as supporting sources." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/news/natwest-trials-recordsure-solution/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What is NatWest trialling with Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "NatWest is trialling Recordsure technology to record and analyse regulated customer conversations, starting with some mortgage adviser interactions." } }, { "@type": "Question", "name": "How does the technology protect conversation records?", "acceptedAnswer": { "@type": "Answer", "text": "With customer consent, conversations are recorded, encrypted and uploaded to secure cloud storage in real time, with alerts for microphone disconnection or long silence." } }, { "@type": "Question", "name": "What can the analysis identify?", "acceptedAnswer": { "@type": "Answer", "text": "It can classify parts of an interaction, including initial disclosures, financial advice, general conversation and topics or issues that may not have been discussed." } }, { "@type": "Question", "name": "Why is NatWest exploring the technology?", "acceptedAnswer": { "@type": "Answer", "text": "The bank is exploring whether it can improve service quality, strengthen compliance oversight and increase customer confidence in regulated conversations." } } ] } ] } ``` ### Compliant telephone recording and analysis under MiFID II - URL: https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/ - Published: 2017-06-09 - Modified: 2026-10-09 **Topic:** MiFID II recording MiFID II raises expectations for recording, retaining and accessing conversations that may lead to transactions. Firms need authorised, tamper-resistant records and useful management information, not only basic capture. #### Key points - MiFID II makes recording obligations more explicit across communication channels. - Face-to-face, mobile, video and social channels need durable, unaltered records where they may lead to transactions. - Firms should test solutions for confidentiality, integrity, accessibility and management information. - Recordsure supports accurate monitoring, efficient compliance processes and operational insight. Recordsure’s CTO Kit Ruparel recently delved into the intricacies of compliant conversation recording and analysis under the forthcoming MiFID II directive in a joint webcast with [ACA Compliance (Europe).](http://www.acacomplianceeurope.com/) We bring you the key highlights of this fascinating session. #### Why is conversation recording a key area of focus? The rapidly changing face of regulation is top of many minds within the financial services industry and MiFID II raises the bar significantly for firms, particularly with its prescriptive rules around appropriate recordkeeping and call recording, which is really driving the focus in this area. The emergence of new technologies also has a part to play as they push the boundaries of what is possible, including the ability to reliably record face-to-face or mobile conversations. Recording technologies, such as Recordsure, can also deliver wider commercial and compliance benefits, such as enhanced management information (MI), trend analysis and in-depth customer insight. #### What are the main challenges of the new conversation recording regime? Channel Expansion Although MiFID I did contain an implicit nod to the range of communication channels firms are obliged to record, MiFID II lays out in far more explicit detail the range of communication channels covered by the legislation, bringing technologies such as video conferencing and social media into scope. Face to face conversation recording is another area firms need to consider when designing compliant recording processes. Typically, the outcomes of face-to-face conversations are recorded via meeting notes or the output of a fact find, but this doesn’t provide a definitive, authentic record of the conversation and agreed outputs. Going forward, MiFID II will require firms to ensure their recordings are in a durable medium which ensures unaltered reproduction. Because of this expansion, firms need to take ownership of the technologies and recording methods they allow for use, not only in executing transactions but also around any conversations to provide information, such as market updates, which may lead to a transaction. #### Communication Expansion As mentioned above, MiFID II requires firms to record all conversations that is intended to lead to a transaction. This can include conversations designed to provide market information to clients or any other conversation that may influence the actions clients take. In the retail space this can even include the information on your website at any point in time, as this may encourage a specific action from a client. #### How are firms addressing these challenges? Auditing the communications solutions market is key to understanding the range of tools available to enhance MiFID II compliance. When evaluating recording solutions, firms should consider the following three areas: **Confidentiality.** Can these recordings be kept confidential and only accessible by people within the business who have the necessary authorisation? **Integrity.** Are there controls in place to ensure that records cannot be tampered with or deleted for the duration of the retention period? **Accessibility.** Can you get to the records you need in a timely fashion, whether for your own internal quality processes or to provide to a third party to fulfil your regulatory obligations? Defining the management information (MI) required from the conversation recording technologies is also essential for success, not only to demonstrate compliance with MiFID II but also to enhance internal processes and business intelligence. #### How can Recordsure help? Recordsure makes monitoring more accurate and efficient, helping firms meet their obligations under MiFID II while also providing a host of commercial benefits to enhance your operation. #### Supporting sources - [ACA Compliance (Europe)](http://www.acacomplianceeurope.com/) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Compliant telephone recording and analysis under MiFID II", "item": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/", "name": "Compliant telephone recording and analysis under MiFID II", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-06-09T08:52:20+01:00", "dateModified": "2022-06-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-06-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Compliant telephone recording and analysis under MiFID II", "datePublished": "2017-06-09T08:52:20+01:00", "dateModified": "2026-10-09T04:50:07+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/2f42a2de5dd24367a98ebc4c56f86e3f/thumbnail-1024-319ace190810d561ef2ad85af3e2815fb88d42b857edf956ebbf8a65aab9d4ab.jpg", "description": "Recordsure\u2019s CTO Kit Ruparel explains how MiFID II changes conversation recording requirements, why more channels fall into scope and what firms should assess when selecting compliant recording technology.", "inLanguage": "en-GB", "articleBody": "MiFID II raises expectations for recording, retaining and accessing conversations that may lead to transactions. Firms need authorised, tamper-resistant records and useful management information, not only basic capture.\n\nRecordsure\u2019s CTO Kit Ruparel recently delved into the intricacies of compliant conversation recording and analysis under the forthcoming MiFID II directive in a joint webcast with ACA Compliance (Europe). We bring you the key highlights of this fascinating session.\n\nWhy is conversation recording a key area of focus?\n\nThe rapidly changing face of regulation is top of many minds within the financial services industry and MiFID II raises the bar significantly for firms, particularly with its prescriptive rules around appropriate recordkeeping and call recording, which is really driving the focus in this area.\n\nThe emergence of new technologies also has a part to play as they push the boundaries of what is possible, including the ability to reliably record face-to-face or mobile conversations. Recording technologies, such as Recordsure, can also deliver wider commercial and compliance benefits, such as enhanced management information (MI), trend analysis and in-depth customer insight.\n\nWhat are the main challenges of the new conversation recording regime?\n\nChannel Expansion\n\nAlthough MiFID I did contain an implicit nod to the range of communication channels firms are obliged to record, MiFID II lays out in far more explicit detail the range of communication channels covered by the legislation, bringing technologies such as video conferencing and social media into scope.\n\nFace to face conversation recording is another area firms need to consider when designing compliant recording processes. Typically, the outcomes of face-to-face conversations are recorded via meeting notes or the output of a fact find, but this doesn\u2019t provide a definitive, authentic record of the conversation and agreed outputs. Going forward, MiFID II will require firms to ensure their recordings are in a durable medium which ensures unaltered reproduction.\n\nBecause of this expansion, firms need to take ownership of the technologies and recording methods they allow for use, not only in executing transactions but also around any conversations to provide information, such as market updates, which may lead to a transaction.\n\nCommunication Expansion\n\nAs mentioned above, MiFID II requires firms to record all conversations that is intended to lead to a transaction. This can include conversations designed to provide market information to clients or any other conversation that may influence the actions clients take.\n\nIn the retail space this can even include the information on your website at any point in time, as this may encourage a specific action from a client.\n\nHow are firms addressing these challenges?\n\nAuditing the communications solutions market is key to understanding the range of tools available to enhance MiFID II compliance. When evaluating recording solutions, firms should consider the following three areas:\n\nConfidentiality. Can these recordings be kept confidential and only accessible by people within the business who have the necessary authorisation?\n\nIntegrity. Are there controls in place to ensure that records cannot be tampered with or deleted for the duration of the retention period?\n\nAccessibility. Can you get to the records you need in a timely fashion, whether for your own internal quality processes or to provide to a third party to fulfil your regulatory obligations?\n\nDefining the management information (MI) required from the conversation recording technologies is also essential for success, not only to demonstrate compliance with MiFID II but also to enhance internal processes and business intelligence.\n\nHow can Recordsure help?\n\nRecordsure makes monitoring more accurate and efficient, helping firms meet their obligations under MiFID II while also providing a host of commercial benefits to enhance your operation.", "wordCount": 594, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-5" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-6" } ], "about": [ { "@type": "Thing", "name": "MiFID II recording" } ], "citation": [ { "@type": "CreativeWork", "name": "ACA Compliance (Europe)", "url": "http://www.acacomplianceeurope.com/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "text": "Recordsure\u2019s CTO Kit Ruparel recently delved into the intricacies of compliant conversation recording and analysis under the forthcoming MiFID II directive in a joint webcast with ACA Compliance (Europe). We bring you the key highlights of this fascinating session." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "headline": "Why is conversation recording a key area of focus?", "text": "The rapidly changing face of regulation is top of many minds within the financial services industry and MiFID II raises the bar significantly for firms, particularly with its prescriptive rules around appropriate recordkeeping and call recording, which is really driving the focus in this area.\n\nThe emergence of new technologies also has a part to play as they push the boundaries of what is possible, including the ability to reliably record face-to-face or mobile conversations. Recording technologies, such as Recordsure, can also deliver wider commercial and compliance benefits, such as enhanced management information (MI), trend analysis and in-depth customer insight." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "headline": "What are the main challenges of the new conversation recording regime?", "text": "Channel Expansion\n\nAlthough MiFID I did contain an implicit nod to the range of communication channels firms are obliged to record, MiFID II lays out in far more explicit detail the range of communication channels covered by the legislation, bringing technologies such as video conferencing and social media into scope.\n\nFace to face conversation recording is another area firms need to consider when designing compliant recording processes. Typically, the outcomes of face-to-face conversations are recorded via meeting notes or the output of a fact find, but this doesn\u2019t provide a definitive, authentic record of the conversation and agreed outputs. Going forward, MiFID II will require firms to ensure their recordings are in a durable medium which ensures unaltered reproduction.\n\nBecause of this expansion, firms need to take ownership of the technologies and recording methods they allow for use, not only in executing transactions but also around any conversations to provide information, such as market updates, which may lead to a transaction." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "headline": "Communication Expansion", "text": "As mentioned above, MiFID II requires firms to record all conversations that is intended to lead to a transaction. This can include conversations designed to provide market information to clients or any other conversation that may influence the actions clients take.\n\nIn the retail space this can even include the information on your website at any point in time, as this may encourage a specific action from a client." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "headline": "How are firms addressing these challenges?", "text": "Auditing the communications solutions market is key to understanding the range of tools available to enhance MiFID II compliance. When evaluating recording solutions, firms should consider the following three areas:\n\nConfidentiality. Can these recordings be kept confidential and only accessible by people within the business who have the necessary authorisation?\n\nIntegrity. Are there controls in place to ensure that records cannot be tampered with or deleted for the duration of the retention period?\n\nAccessibility. Can you get to the records you need in a timely fashion, whether for your own internal quality processes or to provide to a third party to fulfil your regulatory obligations?\n\nDefining the management information (MI) required from the conversation recording technologies is also essential for success, not only to demonstrate compliance with MiFID II but also to enhance internal processes and business intelligence." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "headline": "How can Recordsure help?", "text": "Recordsure makes monitoring more accurate and efficient, helping firms meet their obligations under MiFID II while also providing a host of commercial benefits to enhance your operation." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliant-telephone-recording-analysis-mifid-ii/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does MiFID II increase focus on conversation recording?", "acceptedAnswer": { "@type": "Answer", "text": "MiFID II introduces more prescriptive requirements for appropriate recordkeeping and recording conversations that may lead to transactions." } }, { "@type": "Question", "name": "Which channels should firms consider under MiFID II?", "acceptedAnswer": { "@type": "Answer", "text": "Video conferencing, social media, face-to-face conversations, mobile conversations and other communications can all influence client action and should be considered." } }, { "@type": "Question", "name": "What should firms assess in recording solutions?", "acceptedAnswer": { "@type": "Answer", "text": "Firms should assess confidentiality, integrity, accessibility and the management information that recording technology can provide." } } ] } ] } ``` ### Recordsure calls for more structured engagement with RegTech community - URL: https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/ - Published: 2017-04-20 - Modified: 2026-10-09 **Topic:** RegTech engagement Recordsure welcomes the FCA’s 2017–18 Business Plan but argues that existing initiatives do not yet amount to a dedicated RegTech programme. #### Key points - The FCA’s Business Plan recognises technological change and the role RegTech can play in compliance. - FCA engagement with RegTech needs to be more structured to drive innovation. - Existing outreach is limited to Innovate: RegTech, Tech Sprints and the Regulatory Sandbox. - Demand from compliance officers and rising senior compliance staff costs underline the need for stronger RegTech engagement. **The Financial Conduct Authority (FCA) has unveiled an [ambitious new business plan](https://www.fca.org.uk/publication/business-plans/business-plan-2017-18.pdf) which outlines a renewed mission to not only burnish the authority of the regulator, but to also better navigate “technological change” in the financial services industry. The team at Recordsure, and its sister company [TCC](http://www.tcc.group), whose team includes former FCA regulators, welcome the new business plan and applaud its clear vision.** #### RegTech in the FCA plan Notably for our clients, the FCA is seeking to play a cross-sectoral role, including the promotion of “competition and innovation” in the space of RegTech. The Business Plan makes clear that the FCA’s approach reflects an awareness of RegTech’s potential, stating “‘RegTech’ technology that makes it easier for firms to comply with regulation – can significantly help both regulators and the regulated.” In order to achieve these aims, the FCA intends to foster more dialogue with “the academic community and technology industry contacts.” The regulatory body will “will engage firms and other market participants on the challenges we identify, both experienced by the FCA and by firms, and seek collaboration to develop responses to those challenges.” This is an encouraging intention, but the FCA will need to be more structured in its engagement of the RegTech community in order to truly drive innovation. #### Current outreach is limited To date, the FCA’s commitment to RegTech has been limited, and has fallen short of a dedicated programme. The FCA Business Plan cites two existing initiatives as the extent of its planned outreach to RegTech leaders. The first is the [Innovate: RegTech](https://www.fca.org.uk/firms/innovate-innovation-hub/regtech) program, through which the FCA has co-hosted two Tech Sprints, which “bring market participants together to work collaboratively” in a hackathon type event. The second, is the FCA [Regulatory Sandbox](https://www.fca.org.uk/firms/innovate-innovation-hub/regulatory-sandbox) which has enabled UK FinTech businesses, primarily consumer-facing, to “test innovative products, services, business models and delivery mechanisms in a live environment.” #### Demand from firms While RegTech was highlighted as an area of interest at the time when the sandbox was [launched in November 2015](https://www.fca.org.uk/publication/research/regulatory-sandbox.pdf), there have been just a few compliance-focused solutions tested in the two cohorts welcomed into the sandbox to date. Taken together with just two convenings of the RegTech-focused Tech Sprints, it is clear that the FCA could do much more to support RegTech as a critical part of its long-term commitment to improve conduct and compliance in the financial services industry. #### A venue for technical discussion Importantly, there is significant demand for RegTech solutions from within financial services. In a survey conducted as part of Thompson Reuters’ [2016 Cost of Compliance](https://blogs.thomsonreuters.com/answerson/fintech-regtech-compliance/) report, 52% of compliance officers reported that “RegTech solutions are impacting how they manage compliance at their firm.” This proportion is only set to grow as companies seek more efficient and cost-effective ways to manage compliance with upcoming regulation. A notable 67% of compliance professionals expect the costs of senior compliance staff to increase in 2017. RegTech solutions can help keep those costs in check by giving each compliance officer more powerful tools with which to exercise oversight. **The FCA must seize on its unique position as the financial regulator based in the global capital of FinTech and RegTech innovation. In order to achieve its own stated outcome of driving “increased interest and innovation in RegTech within the financial services industry,” it needs to position itself as a key venue where RegTech innovators and adopters can have focused, technical discussions about how technology can help address the complexity and costs associated with the current regime of financial regulations.** #### Supporting sources - [FCA Business Plan 2017–18](https://www.fca.org.uk/publication/business-plans/business-plan-2017-18.pdf) - [FCA Innovate: RegTech](https://www.fca.org.uk/firms/innovate-innovation-hub/regtech) - [FCA Regulatory Sandbox](https://www.fca.org.uk/firms/innovate-innovation-hub/regulatory-sandbox) - [FCA Regulatory Sandbox report](https://www.fca.org.uk/publication/research/regulatory-sandbox.pdf) - [Thomson Reuters 2016 Cost of Compliance](https://blogs.thomsonreuters.com/answerson/fintech-regtech-compliance/) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Recordsure calls for more structured engagement with RegTech community", "item": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/", "name": "Recordsure calls for more structured engagement with RegTech community", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-04-20T15:34:19+01:00", "dateModified": "2017-04-20T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-04-20" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Recordsure calls for more structured engagement with RegTech community", "datePublished": "2017-04-20T15:34:19+01:00", "dateModified": "2026-10-09T04:50:18+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/10840c439ab4402e86f0627e3355f56e/thumbnail-1024-679b281688f03d3be067a0274b3f65e9599ee7a7e5c16bc89d76745ad9770ac4.jpg", "description": "Recordsure welcomes the FCA\u2019s business plan but argues that the regulator needs more structured engagement with RegTech firms to support compliance innovation.", "inLanguage": "en-GB", "articleBody": "Recordsure welcomes the FCA\u2019s 2017\u201318 Business Plan but argues that existing initiatives do not yet amount to a dedicated RegTech programme.\n\nThe Financial Conduct Authority (FCA) has unveiled an ambitious new business plan which outlines a renewed mission to not only burnish the authority of the regulator, but to also better navigate \u201ctechnological change\u201d in the financial services industry. The team at Recordsure, and its sister company TCC, whose team includes former FCA regulators, welcome the new business plan and applaud its clear vision.\n\nRegTech in the FCA plan\n\nNotably for our clients, the FCA is seeking to play a cross-sectoral role, including the promotion of \u201ccompetition and innovation\u201d in the space of RegTech. The Business Plan makes clear that the FCA\u2019s approach reflects an awareness of RegTech\u2019s potential, stating \u201c\u2018RegTech\u2019 technology that makes it easier for firms to comply with regulation \u2013 can significantly help both regulators and the regulated.\u201d\n\nIn order to achieve these aims, the FCA intends to foster more dialogue with \u201cthe academic community and technology industry contacts.\u201d The regulatory body will \u201cwill engage firms and other market participants on the challenges we identify, both experienced by the FCA and by firms, and seek collaboration to develop responses to those challenges.\u201d This is an encouraging intention, but the FCA will need to be more structured in its engagement of the RegTech community in order to truly drive innovation.\n\nCurrent outreach is limited\n\nTo date, the FCA\u2019s commitment to RegTech has been limited, and has fallen short of a dedicated programme. The FCA Business Plan cites two existing initiatives as the extent of its planned outreach to RegTech leaders. The first is the Innovate: RegTech program, through which the FCA has co-hosted two Tech Sprints, which \u201cbring market participants together to work collaboratively\u201d in a hackathon type event. The second, is the FCA Regulatory Sandbox which has enabled UK FinTech businesses, primarily consumer-facing, to \u201ctest innovative products, services, business models and delivery mechanisms in a live environment.\u201d\n\nDemand from firms\n\nWhile RegTech was highlighted as an area of interest at the time when the sandbox was launched in November 2015, there have been just a few compliance-focused solutions tested in the two cohorts welcomed into the sandbox to date. Taken together with just two convenings of the RegTech-focused Tech Sprints, it is clear that the FCA could do much more to support RegTech as a critical part of its long-term commitment to improve conduct and compliance in the financial services industry.\n\nA venue for technical discussion\n\nImportantly, there is significant demand for RegTech solutions from within financial services. In a survey conducted as part of Thompson Reuters\u2019 2016 Cost of Compliance report, 52% of compliance officers reported that \u201cRegTech solutions are impacting how they manage compliance at their firm.\u201d This proportion is only set to grow as companies seek more efficient and cost-effective ways to manage compliance with upcoming regulation. A notable 67% of compliance professionals expect the costs of senior compliance staff to increase in 2017. RegTech solutions can help keep those costs in check by giving each compliance officer more powerful tools with which to exercise oversight.\n\nThe FCA must seize on its unique position as the financial regulator based in the global capital of FinTech and RegTech innovation. In order to achieve its own stated outcome of driving \u201cincreased interest and innovation in RegTech within the financial services industry,\u201d it needs to position itself as a key venue where RegTech innovators and adopters can have focused, technical discussions about how technology can help address the complexity and costs associated with the current regime of financial regulations.", "wordCount": 602, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "RegTech engagement" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "FCA Business Plan 2017\u201318", "url": "https://www.fca.org.uk/publication/business-plans/business-plan-2017-18.pdf" }, { "@type": "CreativeWork", "name": "FCA Innovate: RegTech", "url": "https://www.fca.org.uk/firms/innovate-innovation-hub/regtech" }, { "@type": "CreativeWork", "name": "FCA Regulatory Sandbox", "url": "https://www.fca.org.uk/firms/innovate-innovation-hub/regulatory-sandbox" }, { "@type": "CreativeWork", "name": "FCA Regulatory Sandbox report", "url": "https://www.fca.org.uk/publication/research/regulatory-sandbox.pdf" }, { "@type": "CreativeWork", "name": "Thomson Reuters 2016 Cost of Compliance", "url": "https://blogs.thomsonreuters.com/answerson/fintech-regtech-compliance/" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "text": "The Financial Conduct Authority (FCA) has unveiled an ambitious new business plan which outlines a renewed mission to not only burnish the authority of the regulator, but to also better navigate \u201ctechnological change\u201d in the financial services industry. The team at Recordsure, and its sister company TCC, whose team includes former FCA regulators, welcome the new business plan and applaud its clear vision." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "headline": "RegTech in the FCA plan", "text": "Notably for our clients, the FCA is seeking to play a cross-sectoral role, including the promotion of \u201ccompetition and innovation\u201d in the space of RegTech. The Business Plan makes clear that the FCA\u2019s approach reflects an awareness of RegTech\u2019s potential, stating \u201c\u2018RegTech\u2019 technology that makes it easier for firms to comply with regulation \u2013 can significantly help both regulators and the regulated.\u201d\n\nIn order to achieve these aims, the FCA intends to foster more dialogue with \u201cthe academic community and technology industry contacts.\u201d The regulatory body will \u201cwill engage firms and other market participants on the challenges we identify, both experienced by the FCA and by firms, and seek collaboration to develop responses to those challenges.\u201d This is an encouraging intention, but the FCA will need to be more structured in its engagement of the RegTech community in order to truly drive innovation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "headline": "Current outreach is limited", "text": "To date, the FCA\u2019s commitment to RegTech has been limited, and has fallen short of a dedicated programme. The FCA Business Plan cites two existing initiatives as the extent of its planned outreach to RegTech leaders. The first is the Innovate: RegTech program, through which the FCA has co-hosted two Tech Sprints, which \u201cbring market participants together to work collaboratively\u201d in a hackathon type event. The second, is the FCA Regulatory Sandbox which has enabled UK FinTech businesses, primarily consumer-facing, to \u201ctest innovative products, services, business models and delivery mechanisms in a live environment.\u201d" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "headline": "Demand from firms", "text": "While RegTech was highlighted as an area of interest at the time when the sandbox was launched in November 2015, there have been just a few compliance-focused solutions tested in the two cohorts welcomed into the sandbox to date. Taken together with just two convenings of the RegTech-focused Tech Sprints, it is clear that the FCA could do much more to support RegTech as a critical part of its long-term commitment to improve conduct and compliance in the financial services industry." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "headline": "A venue for technical discussion", "text": "Importantly, there is significant demand for RegTech solutions from within financial services. In a survey conducted as part of Thompson Reuters\u2019 2016 Cost of Compliance report, 52% of compliance officers reported that \u201cRegTech solutions are impacting how they manage compliance at their firm.\u201d This proportion is only set to grow as companies seek more efficient and cost-effective ways to manage compliance with upcoming regulation. A notable 67% of compliance professionals expect the costs of senior compliance staff to increase in 2017. RegTech solutions can help keep those costs in check by giving each compliance officer more powerful tools with which to exercise oversight.\n\nThe FCA must seize on its unique position as the financial regulator based in the global capital of FinTech and RegTech innovation. In order to achieve its own stated outcome of driving \u201cincreased interest and innovation in RegTech within the financial services industry,\u201d it needs to position itself as a key venue where RegTech innovators and adopters can have focused, technical discussions about how technology can help address the complexity and costs associated with the current regime of financial regulations." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/recordsure-calls-for-more-structured-engagement-with-regtech-community/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Which FCA document is in focus?", "acceptedAnswer": { "@type": "Answer", "text": "The FCA\u2019s 2017\u201318 Business Plan is in focus." } }, { "@type": "Question", "name": "What is Recordsure\u2019s main concern?", "acceptedAnswer": { "@type": "Answer", "text": "Engagement with the RegTech community needs to be more structured to drive innovation." } }, { "@type": "Question", "name": "Which FCA initiatives are discussed?", "acceptedAnswer": { "@type": "Answer", "text": "Innovate: RegTech, RegTech-focused Tech Sprints and the Regulatory Sandbox are discussed." } }, { "@type": "Question", "name": "What evidence of demand is cited?", "acceptedAnswer": { "@type": "Answer", "text": "Thomson Reuters\u2019 2016 Cost of Compliance report found that 52% of compliance officers said RegTech affected how they managed compliance." } } ] } ] } ``` ### Are Compliance Teams Set to Shrink? - URL: https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/ - Published: 2017-04-06 - Modified: 2026-10-09 **Topic:** Compliance resourcing Some banks were reducing or planning to reduce compliance headcount after a slowdown in fines, but Recordsure argues that technology should augment human judgement. Firms can use RegTech to reduce manual work, improve monitoring coverage and focus people on higher-risk interactions. #### Key points - Global banking firms were reported to be reducing or planning to reduce compliance headcount to lower costs. - The trend followed a slowdown in fines after global banks paid $321b for regulatory failings. - RegTech can automate tasks such as KYC checking, regulatory reporting and activity monitoring. - Recordsure argues technology should complement human expertise and help teams focus on the highest risks. **Are the days of large compliance teams numbered? They are unlikely to disappear completely, but recent research suggests the period of rising numbers and cost may be ending.** According to [business-standard.com](http://www.business-standard.com/article/international/banks-trimming-compliance-staff-as-321-billion-in-fines-abate-117032400076_1.html), a number of global banking firms were reducing or planning to reduce headcount in compliance functions to reduce costs. This followed a slowdown in fines for regulatory failings since the financial crisis, during which global banks paid $321b for failings and increased compliance staffing as they tried to remediate past poor behaviours. The reduced need for larger numbers of compliance staff suggests major banks are learning from past mistakes and putting systems and processes in place to manage risks and meet regulatory expectations more efficiently. #### Technology and compliance expertise Technology is being embraced as a way to reduce costs, meet regulatory requirements and improve efficiency. From automating Know-Your-Customer checking to regulatory reporting and activity monitoring tools, innovative RegTech solutions can replace many tasks previously undertaken by compliance professionals. Recordsure’s view is that focusing entirely on cost reduction is not the right approach. Technology can automate many processes now undertaken by humans, but it is far from replacing humans altogether. Experience and human judgement remain necessary, particularly when dealing with customers who do not fit the standard customer model. The better approach is to use technology to create efficiency, reducing menial tasks so the workforce can focus on risks that pose the greatest threat to customers and the business. #### Augmenting monitoring teams Whether firms reduce the workforce and review at current levels, or retain the same numbers and increase coverage, depends on business drivers and appetite. Recordsure’s experience is that many firms benefit most from improving risk mitigation capabilities rather than simply maintaining them. Recordsure is designed to complement existing compliance and monitoring functions by recording and segmenting customer interactions, flagging key risk factors and providing insight that can be used to mitigate compliance risk and maximise customer experience outcomes. By flagging specific areas of risk, Recordsure reduces monitoring times and operating costs while enabling teams to focus on the interactions that pose the greatest risk. #### The future of compliance teams The future of the industry will combine technology and compliance experts to create greater efficiency and reduce costs while improving compliance and customer outcomes. That may mean fewer compliance professionals in the long run, but the intended result is better outcomes and experiences for customers. #### Supporting sources - [Banks trimming compliance staff as $321 billion in fines abate](http://www.business-standard.com/article/international/banks-trimming-compliance-staff-as-321-billion-in-fines-abate-117032400076_1.html) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Are Compliance Teams Set to Shrink?", "item": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/", "name": "Are Compliance Teams Set to Shrink?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-04-06T15:51:38+01:00", "dateModified": "2017-04-06T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-04-06" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Are Compliance Teams Set to Shrink?", "datePublished": "2017-04-06T15:51:38+01:00", "dateModified": "2026-10-09T04:50:06+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/bae891ab8a274f5d9df8acf856027f78/thumbnail-1024-e2ef6e391569b684231db82dfb3e2f86b530d7fe1bc9b2acddba2b577fe44d37.jpg", "description": "Whether banks reducing compliance headcount should use technology only to cut costs or to strengthen monitoring and customer outcomes.", "inLanguage": "en-GB", "articleBody": "Some banks were reducing or planning to reduce compliance headcount after a slowdown in fines, but Recordsure argues that technology should augment human judgement. Firms can use RegTech to reduce manual work, improve monitoring coverage and focus people on higher-risk interactions.\n\nAre the days of large compliance teams numbered? They are unlikely to disappear completely, but recent research suggests the period of rising numbers and cost may be ending.\n\nAccording to business-standard.com, a number of global banking firms were reducing or planning to reduce headcount in compliance functions to reduce costs.\n\nThis followed a slowdown in fines for regulatory failings since the financial crisis, during which global banks paid $321b for failings and increased compliance staffing as they tried to remediate past poor behaviours.\n\nThe reduced need for larger numbers of compliance staff suggests major banks are learning from past mistakes and putting systems and processes in place to manage risks and meet regulatory expectations more efficiently.\n\nTechnology and compliance expertise\n\nTechnology is being embraced as a way to reduce costs, meet regulatory requirements and improve efficiency. From automating Know-Your-Customer checking to regulatory reporting and activity monitoring tools, innovative RegTech solutions can replace many tasks previously undertaken by compliance professionals.\n\nRecordsure\u2019s view is that focusing entirely on cost reduction is not the right approach. Technology can automate many processes now undertaken by humans, but it is far from replacing humans altogether. Experience and human judgement remain necessary, particularly when dealing with customers who do not fit the standard customer model.\n\nThe better approach is to use technology to create efficiency, reducing menial tasks so the workforce can focus on risks that pose the greatest threat to customers and the business.\n\nAugmenting monitoring teams\n\nWhether firms reduce the workforce and review at current levels, or retain the same numbers and increase coverage, depends on business drivers and appetite. Recordsure\u2019s experience is that many firms benefit most from improving risk mitigation capabilities rather than simply maintaining them.\n\nRecordsure is designed to complement existing compliance and monitoring functions by recording and segmenting customer interactions, flagging key risk factors and providing insight that can be used to mitigate compliance risk and maximise customer experience outcomes.\n\nBy flagging specific areas of risk, Recordsure reduces monitoring times and operating costs while enabling teams to focus on the interactions that pose the greatest risk.\n\nThe future of compliance teams\n\nThe future of the industry will combine technology and compliance experts to create greater efficiency and reduce costs while improving compliance and customer outcomes.\n\nThat may mean fewer compliance professionals in the long run, but the intended result is better outcomes and experiences for customers.", "wordCount": 437, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Compliance resourcing" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Banks trimming compliance staff as $321 billion in fines abate", "url": "http://www.business-standard.com/article/international/banks-trimming-compliance-staff-as-321-billion-in-fines-abate-117032400076_1.html" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "inLanguage": "en-GB", "text": "Are the days of large compliance teams numbered? They are unlikely to disappear completely, but recent research suggests the period of rising numbers and cost may be ending.\n\nAccording to business-standard.com, a number of global banking firms were reducing or planning to reduce headcount in compliance functions to reduce costs.\n\nThis followed a slowdown in fines for regulatory failings since the financial crisis, during which global banks paid $321b for failings and increased compliance staffing as they tried to remediate past poor behaviours.\n\nThe reduced need for larger numbers of compliance staff suggests major banks are learning from past mistakes and putting systems and processes in place to manage risks and meet regulatory expectations more efficiently." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "inLanguage": "en-GB", "headline": "Technology and compliance expertise", "text": "Technology is being embraced as a way to reduce costs, meet regulatory requirements and improve efficiency. From automating Know-Your-Customer checking to regulatory reporting and activity monitoring tools, innovative RegTech solutions can replace many tasks previously undertaken by compliance professionals.\n\nRecordsure\u2019s view is that focusing entirely on cost reduction is not the right approach. Technology can automate many processes now undertaken by humans, but it is far from replacing humans altogether. Experience and human judgement remain necessary, particularly when dealing with customers who do not fit the standard customer model.\n\nThe better approach is to use technology to create efficiency, reducing menial tasks so the workforce can focus on risks that pose the greatest threat to customers and the business." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "inLanguage": "en-GB", "headline": "Augmenting monitoring teams", "text": "Whether firms reduce the workforce and review at current levels, or retain the same numbers and increase coverage, depends on business drivers and appetite. Recordsure\u2019s experience is that many firms benefit most from improving risk mitigation capabilities rather than simply maintaining them.\n\nRecordsure is designed to complement existing compliance and monitoring functions by recording and segmenting customer interactions, flagging key risk factors and providing insight that can be used to mitigate compliance risk and maximise customer experience outcomes.\n\nBy flagging specific areas of risk, Recordsure reduces monitoring times and operating costs while enabling teams to focus on the interactions that pose the greatest risk." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "inLanguage": "en-GB", "headline": "The future of compliance teams", "text": "The future of the industry will combine technology and compliance experts to create greater efficiency and reduce costs while improving compliance and customer outcomes.\n\nThat may mean fewer compliance professionals in the long run, but the intended result is better outcomes and experiences for customers." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/compliance-teams-set-shrink/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Will compliance teams disappear?", "acceptedAnswer": { "@type": "Answer", "text": "No. It says they are unlikely to disappear completely, although rising headcount and cost may become a thing of the past." } }, { "@type": "Question", "name": "Why were banks reducing compliance headcount?", "acceptedAnswer": { "@type": "Answer", "text": "A slowdown in fines after the financial crisis and banks\u2019 efforts to reduce costs followed a period of increased compliance staffing." } }, { "@type": "Question", "name": "What tasks can RegTech automate?", "acceptedAnswer": { "@type": "Answer", "text": "RegTech can automate tasks such as Know-Your-Customer checking, regulatory reporting and activity monitoring tools." } }, { "@type": "Question", "name": "Why is human judgement still needed?", "acceptedAnswer": { "@type": "Answer", "text": "Experience and judgement remain important, especially when dealing with customers who do not fit a standard customer model." } } ] } ] } ``` ### Sales tactics and customer satisfaction: what approach should banks take? - URL: https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/ - Published: 2017-03-13 - Modified: 2026-10-09 **Topic:** Bank sales conduct JD Power findings and the Wells Fargo scandal show how aggressive sales practices can undermine customer satisfaction. Banks need better visibility of branch-level conversations and a stronger focus on advice rather than selling. #### Key points - JD Power found US bank customer satisfaction at its highest level in five years. - Pressure to buy unwanted investment products nearly doubled from 6% in 2015 to 11% in 2016. - Poor customer interactions affected regret, switching intent, recommendations and asset placement. - Most new accounts were still opened in branches, including 82% among Gen Z customers. - Recordsure argues that managers need better visibility of branch-level customer interactions. A JD Power report on US banks showed the highest customer satisfaction levels in five years, while warning that persistent failures around aggressive sales practices were beginning to threaten recent progress. The report, based on a survey of 83,000 individuals, focused on US banks but highlighted culture and conduct failures that are also relevant in the UK, Europe and other markets. The findings attracted attention after the Wells Fargo cross-selling scandal. According to the [Wall Street Journal](https://www.wsj.com/articles/how-wells-fargos-high-pressure-sales-culture-spiraled-out-of-control-1474053044), over a 15 year period Wells Fargo opened as many as two million deposit and credit-card accounts without customers’ knowledge. #### Aggressive sales practices threaten trust Branch employees were under significant pressure to increase sales and regularly misled customers during interactions in order to sell products customers did not want or value, according to a Wells Fargo spokeswoman quoted by the newspaper. The JD Power report confirmed fears that aggressive sales tactics remained common among retail banks and could undermine improvements in public perception over the previous five years. The proportion of individuals who would recommend their bank reached its highest level in five years, rising from 30% in 2012 to 36% in 2016. Public perception had also rebounded since the financial crisis, with 79% of respondents saying they believed their bank acts in their best interest and 81% saying their bank acts ethically. #### The cost of unclear selling JD Power’s authors described concern about aggressive sales practices as cracks in the foundation of improved customer satisfaction. The proportion of people citing pressure to purchase investment products they did not want or need nearly doubled from 6% in 2015 to 11% in 2016. The consequences were direct. Among individuals who felt pressured into a mortgage product, 72% regretted the lender they chose. Among those surprised by fees charged to their accounts, 46% said they were considering switching banks. Poor customer interactions, aggressive sales practices and incomplete fee disclosures therefore had a direct negative impact on brand loyalty. #### Monitoring conduct at branch level For banks, a key challenge is monitoring conduct and culture at branch level. Former Wells Fargo Chairman and CEO John Stumpf resigned after the scandal and acknowledged oversight failures, asking whether the bank could have done more, faster or better. Stumpf also told reporters that employees did not honour the bank’s values, implying limited ability to manage customer interactions across 6,000 branches. Recordsure’s response for financial services is to give compliance and customer service managers digital tools to identify where customer interactions fall short of company guidelines and values. this visibility can support faster improvements to customer engagement at branch level. #### Branches remain central to advice The JD Power survey also confirmed that the bank branch remained central to financial product sales. Just 18% of new accounts were opened online, while 78% were opened in branch. Among Gen Z customers, 82% opened accounts at a branch, suggesting that younger customers still wanted advice from a trusted banker when making early financial decisions. The quality of customer interaction was directly associated with customer value. Of customers who felt their banker completely understood their needs, 65% said they would definitely recommend the bank and placed 48% of investable assets at the bank on average. Of customers who felt their banker did not completely understand their needs, just 20% said they would recommend the bank and they entrusted only 31% of investable assets to it. The report’s conclusion was that banks need to stop selling and start advising. #### Supporting sources - [Wall Street Journal report on Wells Fargo sales culture](https://www.wsj.com/articles/how-wells-fargos-high-pressure-sales-culture-spiraled-out-of-control-1474053044) > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Sales tactics and customer satisfaction: what approach should banks take?", "item": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/", "name": "Sales tactics and customer satisfaction: what approach should banks take?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-03-13T11:59:33+00:00", "dateModified": "2024-08-12T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-12" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Sales tactics and customer satisfaction: what approach should banks take?", "datePublished": "2017-03-13T11:59:33+00:00", "dateModified": "2026-10-09T04:50:20+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/8354ab22d6384536bd55ce701a495e9e/thumbnail-1024-629e390cca6d6ddc008bf3a0c0c7ecbf59008de8c6780459141ade3536819a79.jpg", "description": "A JD Power report on US banks showed stronger customer satisfaction alongside persistent concern about aggressive sales practices, branch oversight and the quality of customer conversations.", "inLanguage": "en-GB", "articleBody": "JD Power findings and the Wells Fargo scandal show how aggressive sales practices can undermine customer satisfaction. Banks need better visibility of branch-level conversations and a stronger focus on advice rather than selling.\n\nA JD Power report on US banks showed the highest customer satisfaction levels in five years, while warning that persistent failures around aggressive sales practices were beginning to threaten recent progress.\n\nThe report, based on a survey of 83,000 individuals, focused on US banks but highlighted culture and conduct failures that are also relevant in the UK, Europe and other markets.\n\nThe findings attracted attention after the Wells Fargo cross-selling scandal. According to the Wall Street Journal, over a 15 year period Wells Fargo opened as many as two million deposit and credit-card accounts without customers\u2019 knowledge.\n\nAggressive sales practices threaten trust\n\nBranch employees were under significant pressure to increase sales and regularly misled customers during interactions in order to sell products customers did not want or value, according to a Wells Fargo spokeswoman quoted by the newspaper.\n\nThe JD Power report confirmed fears that aggressive sales tactics remained common among retail banks and could undermine improvements in public perception over the previous five years.\n\nThe proportion of individuals who would recommend their bank reached its highest level in five years, rising from 30% in 2012 to 36% in 2016. Public perception had also rebounded since the financial crisis, with 79% of respondents saying they believed their bank acts in their best interest and 81% saying their bank acts ethically.\n\nThe cost of unclear selling\n\nJD Power\u2019s authors described concern about aggressive sales practices as cracks in the foundation of improved customer satisfaction. The proportion of people citing pressure to purchase investment products they did not want or need nearly doubled from 6% in 2015 to 11% in 2016.\n\nThe consequences were direct. Among individuals who felt pressured into a mortgage product, 72% regretted the lender they chose. Among those surprised by fees charged to their accounts, 46% said they were considering switching banks.\n\nPoor customer interactions, aggressive sales practices and incomplete fee disclosures therefore had a direct negative impact on brand loyalty.\n\nMonitoring conduct at branch level\n\nFor banks, a key challenge is monitoring conduct and culture at branch level. Former Wells Fargo Chairman and CEO John Stumpf resigned after the scandal and acknowledged oversight failures, asking whether the bank could have done more, faster or better.\n\nStumpf also told reporters that employees did not honour the bank\u2019s values, implying limited ability to manage customer interactions across 6,000 branches.\n\nRecordsure\u2019s response for financial services is to give compliance and customer service managers digital tools to identify where customer interactions fall short of company guidelines and values. this visibility can support faster improvements to customer engagement at branch level.\n\nBranches remain central to advice\n\nThe JD Power survey also confirmed that the bank branch remained central to financial product sales. Just 18% of new accounts were opened online, while 78% were opened in branch. Among Gen Z customers, 82% opened accounts at a branch, suggesting that younger customers still wanted advice from a trusted banker when making early financial decisions.\n\nThe quality of customer interaction was directly associated with customer value. Of customers who felt their banker completely understood their needs, 65% said they would definitely recommend the bank and placed 48% of investable assets at the bank on average.\n\nOf customers who felt their banker did not completely understand their needs, just 20% said they would recommend the bank and they entrusted only 31% of investable assets to it. The report\u2019s conclusion was that banks need to stop selling and start advising.", "wordCount": 606, "keywords": [ "Banking", "Lending and Credit", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Lending and Credit", "url": "https://recordsure.com/sector/lending-credit/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Bank sales conduct" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Lending and Credit" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-5" } ], "citation": [ { "@type": "CreativeWork", "name": "Wall Street Journal report on Wells Fargo sales culture", "url": "https://www.wsj.com/articles/how-wells-fargos-high-pressure-sales-culture-spiraled-out-of-control-1474053044" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "text": "A JD Power report on US banks showed the highest customer satisfaction levels in five years, while warning that persistent failures around aggressive sales practices were beginning to threaten recent progress.\n\nThe report, based on a survey of 83,000 individuals, focused on US banks but highlighted culture and conduct failures that are also relevant in the UK, Europe and other markets.\n\nThe findings attracted attention after the Wells Fargo cross-selling scandal. According to the Wall Street Journal, over a 15 year period Wells Fargo opened as many as two million deposit and credit-card accounts without customers\u2019 knowledge." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "headline": "Aggressive sales practices threaten trust", "text": "Branch employees were under significant pressure to increase sales and regularly misled customers during interactions in order to sell products customers did not want or value, according to a Wells Fargo spokeswoman quoted by the newspaper.\n\nThe JD Power report confirmed fears that aggressive sales tactics remained common among retail banks and could undermine improvements in public perception over the previous five years.\n\nThe proportion of individuals who would recommend their bank reached its highest level in five years, rising from 30% in 2012 to 36% in 2016. Public perception had also rebounded since the financial crisis, with 79% of respondents saying they believed their bank acts in their best interest and 81% saying their bank acts ethically." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "headline": "The cost of unclear selling", "text": "JD Power\u2019s authors described concern about aggressive sales practices as cracks in the foundation of improved customer satisfaction. The proportion of people citing pressure to purchase investment products they did not want or need nearly doubled from 6% in 2015 to 11% in 2016.\n\nThe consequences were direct. Among individuals who felt pressured into a mortgage product, 72% regretted the lender they chose. Among those surprised by fees charged to their accounts, 46% said they were considering switching banks.\n\nPoor customer interactions, aggressive sales practices and incomplete fee disclosures therefore had a direct negative impact on brand loyalty." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "headline": "Monitoring conduct at branch level", "text": "For banks, a key challenge is monitoring conduct and culture at branch level. Former Wells Fargo Chairman and CEO John Stumpf resigned after the scandal and acknowledged oversight failures, asking whether the bank could have done more, faster or better.\n\nStumpf also told reporters that employees did not honour the bank\u2019s values, implying limited ability to manage customer interactions across 6,000 branches.\n\nRecordsure\u2019s response for financial services is to give compliance and customer service managers digital tools to identify where customer interactions fall short of company guidelines and values. this visibility can support faster improvements to customer engagement at branch level." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "headline": "Branches remain central to advice", "text": "The JD Power survey also confirmed that the bank branch remained central to financial product sales. Just 18% of new accounts were opened online, while 78% were opened in branch. Among Gen Z customers, 82% opened accounts at a branch, suggesting that younger customers still wanted advice from a trusted banker when making early financial decisions.\n\nThe quality of customer interaction was directly associated with customer value. Of customers who felt their banker completely understood their needs, 65% said they would definitely recommend the bank and placed 48% of investable assets at the bank on average.\n\nOf customers who felt their banker did not completely understand their needs, just 20% said they would recommend the bank and they entrusted only 31% of investable assets to it. The report\u2019s conclusion was that banks need to stop selling and start advising." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/sales-tactics-customer-satisfaction-approach-banks-take/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the JD Power report find?", "acceptedAnswer": { "@type": "Answer", "text": "It found US bank customer satisfaction at a five-year high, but warned that aggressive sales practices threatened progress." } }, { "@type": "Question", "name": "Why was Wells Fargo relevant?", "acceptedAnswer": { "@type": "Answer", "text": "The Wells Fargo scandal illustrated the risks of high-pressure sales cultures and weak oversight of branch interactions." } }, { "@type": "Question", "name": "What customer impacts were cited?", "acceptedAnswer": { "@type": "Answer", "text": "It cited regret over mortgage lender choice, possible bank switching after unexpected fees, lower recommendations and lower asset placement." } }, { "@type": "Question", "name": "Why do branches still matter?", "acceptedAnswer": { "@type": "Answer", "text": "The report found most new accounts, including 82% among Gen Z customers, were opened in branch." } } ] } ] } ``` ### The Potential Return on Investment of MiFID II Call Recording - URL: https://recordsure.com/insights/analysis-and-perspective/427-2/ - Published: 2017-02-09 - Modified: 2026-10-09 **Topic:** MiFID II ROI MiFID II conversation recording can create value through better processes, customer understanding, competitor insight, staff development and compliance evidence. #### Key points - MiFID II conversation recording can provide more than storage and retrieval. - Recorded data can support process efficiency, customer understanding and competitor insight. - Staff performance, service outcomes and compliance monitoring can also improve when MI is used well. The Recordsure team attended a seminar on RegTech, Robotics and Compliance Transformation, which brought together market participants in the RegTech arena to discuss emerging issues. With just under a year to go until MiFID II implementation, it was high on the agenda. One area of the directive likely to have a significant impact is the expansion of conversation recording requirements. Recordsure considers five ways that these requirements can generate a return on investment for a business. In a recent [blog post](/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/), Recordsure CEO Joanne Smith highlighted why firms should take advantage of the data opportunities offered by audio analytics. The conversation recording element of MiFID II will provide information about customers, internal processes and systems, products and services, and staff. That information can be used to inform business decisions and highlight emerging risk. It may be tempting to choose the cheapest call recording technology with basic capabilities, but data mined from recorded conversations can potentially provide return on investment in five ways. #### Process efficiencies Data obtained on the customer journey and sales process can show how processes can be optimised to make them more efficient and more effective at meeting customers’ needs. #### Better understanding of customers Customer data can provide individual customer insights which, if used correctly, can drive better customer experience and loyalty. #### Increased competitor insight Gathering data on what clients say about competitors’ products and services can inform competitor analysis. #### Improved staff performance Data on staff performance, delivery of customer outcomes and service levels can drive training and development initiatives that ultimately improve the customer experience. #### Enhanced compliance Firms can determine where future risks lie by gathering data on adherence to business or compliance rules. If used correctly, this can reduce the potential for PBRs, remediation activity, fines and costly enforcement action. To realise these benefits, firms need call recording technology that goes beyond storage and retrieval of audio records. They also need to dedicate time and resource to ongoing monitoring, ensuring the technology continues to meet required standards and that the management information provided is used effectively to deliver the right client outcomes and greater transparency. If the benefits are maximised successfully, they can far outweigh implementation costs and ongoing fees. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "The Potential Return on Investment of MiFID II Call Recording", "item": "https://recordsure.com/insights/analysis-and-perspective/427-2/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/427-2/", "name": "The Potential Return on Investment of MiFID II Call Recording", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-02-09T16:41:40+00:00", "dateModified": "2024-08-12T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-08-12" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "The Potential Return on Investment of MiFID II Call Recording", "datePublished": "2017-02-09T16:41:40+00:00", "dateModified": "2026-10-09T04:50:03+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/7ecf500ece594bec81b4c3e3180bf421/thumbnail-1024-079f98bd2c78e2e018548b0a86cbd9454d996129ac6f2e914a66bbf8f44e0b16.jpg", "description": "MiFID II conversation recording can create value through better processes, customer understanding, competitor insight, staff development and compliance evidence.", "inLanguage": "en-GB", "articleBody": "MiFID II conversation recording can create value through better processes, customer understanding, competitor insight, staff development and compliance evidence.\n\nThe Recordsure team attended a seminar on RegTech, Robotics and Compliance Transformation, which brought together market participants in the RegTech arena to discuss emerging issues. With just under a year to go until MiFID II implementation, it was high on the agenda.\n\nOne area of the directive likely to have a significant impact is the expansion of conversation recording requirements. Recordsure considers five ways that these requirements can generate a return on investment for a business.\n\nIn a recent blog post, Recordsure CEO Joanne Smith highlighted why firms should take advantage of the data opportunities offered by audio analytics. The conversation recording element of MiFID II will provide information about customers, internal processes and systems, products and services, and staff. That information can be used to inform business decisions and highlight emerging risk.\n\nIt may be tempting to choose the cheapest call recording technology with basic capabilities, but data mined from recorded conversations can potentially provide return on investment in five ways.\n\nProcess efficiencies\n\nData obtained on the customer journey and sales process can show how processes can be optimised to make them more efficient and more effective at meeting customers\u2019 needs.\n\nBetter understanding of customers\n\nCustomer data can provide individual customer insights which, if used correctly, can drive better customer experience and loyalty.\n\nIncreased competitor insight\n\nGathering data on what clients say about competitors\u2019 products and services can inform competitor analysis.\n\nImproved staff performance\n\nData on staff performance, delivery of customer outcomes and service levels can drive training and development initiatives that ultimately improve the customer experience.\n\nEnhanced compliance\n\nFirms can determine where future risks lie by gathering data on adherence to business or compliance rules. If used correctly, this can reduce the potential for PBRs, remediation activity, fines and costly enforcement action.\n\nTo realise these benefits, firms need call recording technology that goes beyond storage and retrieval of audio records. They also need to dedicate time and resource to ongoing monitoring, ensuring the technology continues to meet required standards and that the management information provided is used effectively to deliver the right client outcomes and greater transparency. 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That information can be used to inform business decisions and highlight emerging risk.\n\nIt may be tempting to choose the cheapest call recording technology with basic capabilities, but data mined from recorded conversations can potentially provide return on investment in five ways." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "headline": "Process efficiencies", "text": "Data obtained on the customer journey and sales process can show how processes can be optimised to make them more efficient and more effective at meeting customers\u2019 needs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "headline": "Better understanding of customers", "text": "Customer data can provide individual customer insights which, if used correctly, can drive better customer experience and loyalty." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "headline": "Increased competitor insight", "text": "Gathering data on what clients say about competitors\u2019 products and services can inform competitor analysis." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "headline": "Improved staff performance", "text": "Data on staff performance, delivery of customer outcomes and service levels can drive training and development initiatives that ultimately improve the customer experience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#analysis-6", "position": 6, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "headline": "Enhanced compliance", "text": "Firms can determine where future risks lie by gathering data on adherence to business or compliance rules. If used correctly, this can reduce the potential for PBRs, remediation activity, fines and costly enforcement action.\n\nTo realise these benefits, firms need call recording technology that goes beyond storage and retrieval of audio records. They also need to dedicate time and resource to ongoing monitoring, ensuring the technology continues to meet required standards and that the management information provided is used effectively to deliver the right client outcomes and greater transparency. If the benefits are maximised successfully, they can far outweigh implementation costs and ongoing fees." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/427-2/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How can MiFID II recording create return on investment?", "acceptedAnswer": { "@type": "Answer", "text": "Process efficiencies, better customer understanding, competitor insight, staff performance and enhanced compliance can all support return on investment." } }, { "@type": "Question", "name": "What does Recordsure say firms need beyond storage?", "acceptedAnswer": { "@type": "Answer", "text": "Firms need technology that goes beyond storing and retrieving audio, plus ongoing monitoring and effective use of management information." } } ] } ] } ``` ### Data is key to the MiFID II call recording requirements - URL: https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/ - Published: 2017-02-03 - Modified: 2026-10-09 **Topic:** MiFID II data MiFID II expands call recording obligations, but the data from recorded conversations can do more than satisfy a basic requirement. With analytics, firms can create useful management information and improve oversight. #### Key points - MiFID II expands recording requirements across firms, staff, channels and retention periods. - Basic call recording meets one need; analytics can turn conversations into management information. - Audio recording is accurate, but firms need analytics to find trends and anomalies. - Data tagging and analysis help firms retrieve recordings and create usable dashboards. Over the next month we’ve been asked to be a part of several RegTech events and seminars, which brought our thinking back to the upcoming implementation of MiFID II and the various challenges it brings for our clients. The aspect of the Directive with the most disruptive potential is the taping regime and with just under a year to go until implementation it has many in financial services hot-under-the-collar. Joanne Smith, Chief Executive Officer and founder of TCC and Recordsure, explains why despite the initial challenges, the recording requirements in fact present an opportunity to increase competitive advantage. With the right approach and effective use of RegTech solutions, the data derived from these conversations can offer significant insight into your business and customers. Call recording requirements are set to expand considerably under MiFID II. This involves the inclusion of a greater proportion of firms and staff, additional communication channels and a longer data retention period. There are many solutions available that can meet the requirement of recording conversations between your firm and your clients. However, finding a solution that can help you use those conversations to effectively inform management information makes all the difference between meeting a basic requirement and using it to your advantage. There’s no denying that the potential return-on-investment available requires a higher financial outlay in terms of investment than opting for the cheapest, minimal call recording solution. However, with the right solution you’ll be able to: - Monitor the capture, storage and usage of those conversations; - Use the recordings for ongoing compliance monitoring; - Generate accurate, usable and relevant information about your clients, services/products and staff, upon which you can base business and compliance decisions. Conversation recording is one of the most accurate forms of information you can gather, but it is not possible to listen to every conversation to draw out the information you can use. The key is to find solutions that combine audio recording with data analytics to identify trends and anomalies, turning it into information. To this end, the solution you seek should provide: - **Data tagging** – audio recordings tagged with data tags to provide searchable points from which you can monitor and retrieve the right recordings easily. - **Data analysis** – data mined and analysed from the audio recordings to create usable and relevant management information that is displayed in a visual dashboard. [Recordsure](/sectors/) offers all of these benefits and is supported by compliance expertise from financial services compliance specialists [TCC](http://www.tcc.group/). > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Data is key to the MiFID II call recording requirements", "item": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/", "name": "Data is key to the MiFID II call recording requirements", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-02-03T09:31:59+00:00", "dateModified": "2017-02-03T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-02-03" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Data is key to the MiFID II call recording requirements", "datePublished": "2017-02-03T09:31:59+00:00", "dateModified": "2026-10-09T04:50:08+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ba5cc786a44d4ed7977a4d9b750c99be/thumbnail-1024-a8538419703225b1eade799d7ea11c2c457f249e06287ce62103a96d29498e7b.jpg", "description": "MiFID II recording requirements create compliance challenges, but conversation data can also improve management information, monitoring and customer insight when firms choose the right RegTech approach.", "inLanguage": "en-GB", "articleBody": "MiFID II expands call recording obligations, but the data from recorded conversations can do more than satisfy a basic requirement. With analytics, firms can create useful management information and improve oversight.\n\nOver the next month we\u2019ve been asked to be a part of several RegTech events and seminars, which brought our thinking back to the upcoming implementation of MiFID II and the various challenges it brings for our clients.\n\nThe aspect of the Directive with the most disruptive potential is the taping regime and with just under a year to go until implementation it has many in financial services hot-under-the-collar. Joanne Smith, Chief Executive Officer and founder of TCC and Recordsure, explains why despite the initial challenges, the recording requirements in fact present an opportunity to increase competitive advantage. With the right approach and effective use of RegTech solutions, the data derived from these conversations can offer significant insight into your business and customers.\n\nCall recording requirements are set to expand considerably under MiFID II. This involves the inclusion of a greater proportion of firms and staff, additional communication channels and a longer data retention period. There are many solutions available that can meet the requirement of recording conversations between your firm and your clients. However, finding a solution that can help you use those conversations to effectively inform management information makes all the difference between meeting a basic requirement and using it to your advantage. There\u2019s no denying that the potential return-on-investment available requires a higher financial outlay in terms of investment than opting for the cheapest, minimal call recording solution. However, with the right solution you\u2019ll be able to:\n\n\u2022 Monitor the capture, storage and usage of those conversations;\n\u2022 Use the recordings for ongoing compliance monitoring;\n\u2022 Generate accurate, usable and relevant information about your clients, services/products and staff, upon which you can base business and compliance decisions.\n\nConversation recording is one of the most accurate forms of information you can gather, but it is not possible to listen to every conversation to draw out the information you can use. The key is to find solutions that combine audio recording with data analytics to identify trends and anomalies, turning it into information.\n\nTo this end, the solution you seek should provide:\n\n\u2022 Data tagging \u2013 audio recordings tagged with data tags to provide searchable points from which you can monitor and retrieve the right recordings easily.\n\u2022 Data analysis \u2013 data mined and analysed from the audio recordings to create usable and relevant management information that is displayed in a visual dashboard.\n\nRecordsure offers all of these benefits and is supported by compliance expertise from financial services compliance specialists TCC.", "wordCount": 443, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#analysis-1" } ], "about": [ { "@type": "Thing", "name": "MiFID II data" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#webpage" }, "inLanguage": "en-GB", "text": "Over the next month we\u2019ve been asked to be a part of several RegTech events and seminars, which brought our thinking back to the upcoming implementation of MiFID II and the various challenges it brings for our clients.\n\nThe aspect of the Directive with the most disruptive potential is the taping regime and with just under a year to go until implementation it has many in financial services hot-under-the-collar. Joanne Smith, Chief Executive Officer and founder of TCC and Recordsure, explains why despite the initial challenges, the recording requirements in fact present an opportunity to increase competitive advantage. With the right approach and effective use of RegTech solutions, the data derived from these conversations can offer significant insight into your business and customers.\n\nCall recording requirements are set to expand considerably under MiFID II. This involves the inclusion of a greater proportion of firms and staff, additional communication channels and a longer data retention period. There are many solutions available that can meet the requirement of recording conversations between your firm and your clients. However, finding a solution that can help you use those conversations to effectively inform management information makes all the difference between meeting a basic requirement and using it to your advantage. There\u2019s no denying that the potential return-on-investment available requires a higher financial outlay in terms of investment than opting for the cheapest, minimal call recording solution. However, with the right solution you\u2019ll be able to:\n\n\u2022 Monitor the capture, storage and usage of those conversations;\n\u2022 Use the recordings for ongoing compliance monitoring;\n\u2022 Generate accurate, usable and relevant information about your clients, services/products and staff, upon which you can base business and compliance decisions.\n\nConversation recording is one of the most accurate forms of information you can gather, but it is not possible to listen to every conversation to draw out the information you can use. The key is to find solutions that combine audio recording with data analytics to identify trends and anomalies, turning it into information.\n\nTo this end, the solution you seek should provide:\n\n\u2022 Data tagging \u2013 audio recordings tagged with data tags to provide searchable points from which you can monitor and retrieve the right recordings easily.\n\u2022 Data analysis \u2013 data mined and analysed from the audio recordings to create usable and relevant management information that is displayed in a visual dashboard.\n\nRecordsure offers all of these benefits and is supported by compliance expertise from financial services compliance specialists TCC." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/data-key-mifid-ii-call-recording-requirements/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What does MiFID II change for call recording?", "acceptedAnswer": { "@type": "Answer", "text": "MiFID II expands requirements across more firms and staff, more communication channels and a longer retention period." } }, { "@type": "Question", "name": "Why is conversation data valuable?", "acceptedAnswer": { "@type": "Answer", "text": "Data from conversations can inform management information, compliance monitoring and business decisions about clients, services, products and staff." } }, { "@type": "Question", "name": "What capabilities should a recording solution provide?", "acceptedAnswer": { "@type": "Answer", "text": "Recording solutions should provide data tagging for retrieval and data analysis for management information and dashboards." } } ] } ] } ``` ### FinTech – why aren’t banks cashing in? - URL: https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** FinTech adoption Banks are missing opportunities to use FinTech and RegTech to reduce governance, risk and compliance costs, partly because legacy systems, inertia and board-level technology gaps slow adoption. #### Key points - Boston Consulting Group identified limited investment in FinTech and RegTech despite cost-reduction potential. - Bain & Co. states governance, risk and compliance can account for 15-20% of bank running costs. - Accenture reported that only 3% of CEOs and 6% of board members at major banks have technology backgrounds. - Celent reported that in 2014, 75% of bank IT spend supported old IT systems. It’s clear that banks aren’t taking full advantage of advanced technology offered by RegTech start-ups. As Founder and CEO of my own FinTech company – Recordsure – you may think my view a bit biased, however it is clear I am not the only one… Research from the [Boston Consulting Group](https://www.ft.com/content/7bb8b180-8716-11e6-a75a-0c4dce033ade) identified that despite the potential to reduce costs, there has been little investment in FinTech and RegTech. [Bain & Co.](http://www.americanbanker.com/bankthink/youve-heard-of-fintech-get-ready-for-regtech-1091148-1.html) state that governance, risk and compliance can account for 15-20% of the costs of running a bank. With FinTech being a key driver of efficiency and cost reduction, its highly surprising that firms aren’t taking advantage of the benefits provided by FinTech. But to first devise a solution, we must first look at the cause. In my opinion, there are multiple reasons why banks aren’t investing in FinTech, with the following being just a few #### Steering the ship Many years ago, a friend once compared the large financial institution they worked for to a ‘big ocean liner’ – powerful, domineering and highly capable, but incredibly difficult to change direction. We see this challenge for our larger clients everyday. Nimbly instigating change where so many legacy systems and behaviours endure can be complicated and arduous, whether you are trying to change an embedded culture or rolling out new technology. Event the smallest of changes, whether technological or otherwise can cause strain. Firms are weighing up whether the initial cost of investing time, resources and money is worth the ongoing cost reduction benefits, with inertia coming out on top time and again. But, that’s not the only reason… #### Experience is key In my experience, a key reason why banks have been reluctant to invest in FinTech and RegTech is due a lack of technology experience at board level. A recent report from Accenture claimed, only 3% of CEOs and 6% of board members have technology backgrounds at the world’s largest banks. In the report ‘[Bridging the Technology Gap in Financial Services Boardrooms](https://www.accenture.com/t20160118T152822__w__/us-en/_acnmedia/PDF-4/Accenture-Strategy-Financial-Services-Technology-Boardroom.pdf)’, author Richard Lumb states the problem lies in the fact that many boards do not have the adequate knowledge and expertise about strategy investment and how best to allocate technology resources. Investment in FinTech is essential, according to [Celent](http://celent.com/reports/it-spending-banking-global-perspective-2), in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could therefore allow for money to be spent on alternative resources, maximising a company’s efficiency overall. #### Early Adopter Competitive Advantage Firms that do not invest in FinTech and RegTech run the risk of being less relevant to their customers, providing a lower level of service and becoming even more inefficient. As few companies are investing in FinTech, those that do invest, will have a bigger advantage over those who don’t. #### Supporting sources - [Boston Consulting Group](https://www.ft.com/content/7bb8b180-8716-11e6-a75a-0c4dce033ade) - [Bain & Co.](http://www.americanbanker.com/bankthink/youve-heard-of-fintech-get-ready-for-regtech-1091148-1.html) - [Bridging the Technology Gap in Financial Services Boardrooms](https://www.accenture.com/t20160118T152822__w__/us-en/_acnmedia/PDF-4/Accenture-Strategy-Financial-Services-Technology-Boardroom.pdf) - [Celent](http://celent.com/reports/it-spending-banking-global-perspective-2) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "FinTech \u2013 why aren\u2019t banks cashing in?", "item": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/", "name": "FinTech \u2013 why aren\u2019t banks cashing in?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T15:34:21+00:00", "dateModified": "2022-06-24T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2022-06-24" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "FinTech \u2013 why aren\u2019t banks cashing in?", "datePublished": "2017-01-16T15:34:21+00:00", "dateModified": "2026-10-09T04:50:11+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/f03c2ad231454e6bb1c0d242850b11d5/thumbnail-1024-ac5bc7bc2bfc3ac94c5f6f18a7e5426bfcc5b3c8b2635e3b2c030ca60a4136c8.jpg", "description": "Why banks have been slow to adopt FinTech and RegTech, from legacy change barriers to limited technology experience in boardrooms.", "inLanguage": "en-GB", "articleBody": "Banks are missing opportunities to use FinTech and RegTech to reduce governance, risk and compliance costs, partly because legacy systems, inertia and board-level technology gaps slow adoption.\n\nIt\u2019s clear that banks aren\u2019t taking full advantage of advanced technology offered by RegTech start-ups. As Founder and CEO of my own FinTech company \u2013 Recordsure \u2013 you may think my view a bit biased, however it is clear I am not the only one\u2026\n\nResearch from the Boston Consulting Group identified that despite the potential to reduce costs, there has been little investment in FinTech and RegTech.\n\nBain & Co. state that governance, risk and compliance can account for 15-20% of the costs of running a bank. With FinTech being a key driver of efficiency and cost reduction, its highly surprising that firms aren\u2019t taking advantage of the benefits provided by FinTech.\n\nBut to first devise a solution, we must first look at the cause. In my opinion, there are multiple reasons why banks aren\u2019t investing in FinTech, with the following being just a few\n\nSteering the ship\n\nMany years ago, a friend once compared the large financial institution they worked for to a \u2018big ocean liner\u2019 \u2013 powerful, domineering and highly capable, but incredibly difficult to change direction.\n\nWe see this challenge for our larger clients everyday. Nimbly instigating change where so many legacy systems and behaviours endure can be complicated and arduous, whether you are trying to change an embedded culture or rolling out new technology.\n\nEvent the smallest of changes, whether technological or otherwise can cause strain. Firms are weighing up whether the initial cost of investing time, resources and money is worth the ongoing cost reduction benefits, with inertia coming out on top time and again.\n\nBut, that\u2019s not the only reason\u2026\n\nExperience is key\n\nIn my experience, a key reason why banks have been reluctant to invest in FinTech and RegTech is due a lack of technology experience at board level. A recent report from Accenture claimed, only 3% of CEOs and 6% of board members have technology backgrounds at the world\u2019s largest banks. In the report \u2018Bridging the Technology Gap in Financial Services Boardrooms\u2019, author Richard Lumb states the problem lies in the fact that many boards do not have the adequate knowledge and expertise about strategy investment and how best to allocate technology resources.\n\nInvestment in FinTech is essential, according to Celent, in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could therefore allow for money to be spent on alternative resources, maximising a company\u2019s efficiency overall.\n\nEarly Adopter Competitive Advantage\n\nFirms that do not invest in FinTech and RegTech run the risk of being less relevant to their customers, providing a lower level of service and becoming even more inefficient. As few companies are investing in FinTech, those that do invest, will have a bigger advantage over those who don\u2019t.", "wordCount": 486, "keywords": [ "Banking", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "FinTech adoption" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "Boston Consulting Group", "url": "https://www.ft.com/content/7bb8b180-8716-11e6-a75a-0c4dce033ade" }, { "@type": "CreativeWork", "name": "Bain & Co.", "url": "http://www.americanbanker.com/bankthink/youve-heard-of-fintech-get-ready-for-regtech-1091148-1.html" }, { "@type": "CreativeWork", "name": "Bridging the Technology Gap in Financial Services Boardrooms", "url": "https://www.accenture.com/t20160118T152822__w__/us-en/_acnmedia/PDF-4/Accenture-Strategy-Financial-Services-Technology-Boardroom.pdf" }, { "@type": "CreativeWork", "name": "Celent", "url": "http://celent.com/reports/it-spending-banking-global-perspective-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "inLanguage": "en-GB", "text": "It\u2019s clear that banks aren\u2019t taking full advantage of advanced technology offered by RegTech start-ups. As Founder and CEO of my own FinTech company \u2013 Recordsure \u2013 you may think my view a bit biased, however it is clear I am not the only one\u2026\n\nResearch from the Boston Consulting Group identified that despite the potential to reduce costs, there has been little investment in FinTech and RegTech.\n\nBain & Co. state that governance, risk and compliance can account for 15-20% of the costs of running a bank. With FinTech being a key driver of efficiency and cost reduction, its highly surprising that firms aren\u2019t taking advantage of the benefits provided by FinTech.\n\nBut to first devise a solution, we must first look at the cause. In my opinion, there are multiple reasons why banks aren\u2019t investing in FinTech, with the following being just a few" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "inLanguage": "en-GB", "headline": "Steering the ship", "text": "Many years ago, a friend once compared the large financial institution they worked for to a \u2018big ocean liner\u2019 \u2013 powerful, domineering and highly capable, but incredibly difficult to change direction.\n\nWe see this challenge for our larger clients everyday. Nimbly instigating change where so many legacy systems and behaviours endure can be complicated and arduous, whether you are trying to change an embedded culture or rolling out new technology.\n\nEvent the smallest of changes, whether technological or otherwise can cause strain. Firms are weighing up whether the initial cost of investing time, resources and money is worth the ongoing cost reduction benefits, with inertia coming out on top time and again.\n\nBut, that\u2019s not the only reason\u2026" }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "inLanguage": "en-GB", "headline": "Experience is key", "text": "In my experience, a key reason why banks have been reluctant to invest in FinTech and RegTech is due a lack of technology experience at board level. A recent report from Accenture claimed, only 3% of CEOs and 6% of board members have technology backgrounds at the world\u2019s largest banks. In the report \u2018Bridging the Technology Gap in Financial Services Boardrooms\u2019, author Richard Lumb states the problem lies in the fact that many boards do not have the adequate knowledge and expertise about strategy investment and how best to allocate technology resources.\n\nInvestment in FinTech is essential, according to Celent, in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could therefore allow for money to be spent on alternative resources, maximising a company\u2019s efficiency overall." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "inLanguage": "en-GB", "headline": "Early Adopter Competitive Advantage", "text": "Firms that do not invest in FinTech and RegTech run the risk of being less relevant to their customers, providing a lower level of service and becoming even more inefficient. As few companies are investing in FinTech, those that do invest, will have a bigger advantage over those who don\u2019t." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/fintech-why-arent-banks-cashing-in/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why compare banks to an ocean liner?", "acceptedAnswer": { "@type": "Answer", "text": "Large financial institutions can be powerful and capable but difficult to redirect because of legacy systems, embedded behaviours and complex cultures." } }, { "@type": "Question", "name": "What board-level technology gap is cited?", "acceptedAnswer": { "@type": "Answer", "text": "Accenture claimed that only 3% of CEOs and 6% of board members at the world\u2019s largest banks have technology backgrounds." } }, { "@type": "Question", "name": "What risk do non-adopters face?", "acceptedAnswer": { "@type": "Answer", "text": "They risk becoming less relevant to customers, providing weaker service and becoming more inefficient." } } ] } ] } ``` ### Are You Taking Advantage of AI? - URL: https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** AI opportunity AI is already being used in practical ways across industries, from diagnosis and customer email analysis to compliance monitoring. Joanne Smith argues that firms can use it to improve transparency, reduce manual record-keeping and support better customer outcomes. #### Key points - AI is moving beyond science fiction into practical analysis and processing of large amounts of data. - Legal and transport examples show how AI can reduce manual work and interpret meaning and sentiment. - Recordsure was founded to apply AI and recording technology to financial services compliance challenges. - Conversation analysis can help firms flag mis-selling risks, improve service and identify wider operational improvements. **The future of Artificial Intelligence is already here – and it’s not just for techies. Joanne Smith, CEO of Recordsure and TCC, believes that AI is for everyone.** In one week, Joanne Smith had seen Artificial Intelligence used to diagnose Alzheimer’s disease, brew better tasting beer and keep cats away from a garden-proud software engineer’s lawn. AI is here and is no longer confined to robots or Hollywood science fiction. In practice, today’s AI is often about algorithms analysing and processing large amounts of data. It can drive systems and applications in the background without the end user knowing it is there. #### The AI effect AI is already changing industries and creating economic advantages. Some legal firms use AI to process property deeds for planning permission, turning a task that used to take trainees and paralegals 15 minutes by hand into work completed in seconds. Its value is not limited to processing or administration. AI is increasingly used to understand and analyse information. Virgin Trains uses an AI platform called inSTREAM to categorise customer emails, reading them for meaning and sentiment and reducing the man hours required from 35 to four. AI does not have to replace human interactions. It can also support and enhance them. Digital channels have increased, but there is still a significant need for verbal conversations between staff and customers. Many people are more comfortable speaking directly with someone because it feels more transparent and trustworthy. That is especially true in financial advice, where customers prefer to build a relationship before discussing intimate affairs. #### Technology equals opportunity Joanne founded Recordsure in 2012 after seeing that AI technology could help solve compliance issues facing financial institutions. Customer confidence had been eroded by the financial crisis and mis-selling scandals, creating an urgent need to rebuild trust. With 30 years’ experience in financial services compliance, including 16 years running TCC, she saw that technology could provide the protection and reassurance firms and customers needed. She committed substantial finances and recruited a research and development team. In 2013 Recordsure launched as a system using high quality recording techniques and AI technology to record and analyse customer and staff conversations, whether face-to-face or over the phone. #### Building trust and transparency Recordsure helps firms provide recordings of customer conversations and analyse those conversations to detect and flag potential mis-selling risks. That supports trust and transparency while replacing labour-intensive record keeping, a major burden for financial institutions. The principle is simple: if a firm can record the conversation, it does not need to rely only on written notes from that conversation. Customers should be able to feel safe, reassured and protected when buying financial products and services, knowing they can access an authoritative record of what was said if required. The same analysis helps business leaders identify the most at-risk conversations and address behaviours that contributed to poor outcomes in financial services. #### Beyond financial services The system is relevant beyond compliance and across sectors. By monitoring and analysing conversations, businesses can check whether customers receive good service, gather insight for business decisions and identify opportunities or areas for improvement. For any organisation with regular customer conversations, Recordsure can become a tool for understanding those interactions. The question for leaders is what system, process or cultural improvements they could make if they used AI in their business. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Are You Taking Advantage of AI?", "item": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/", "name": "Are You Taking Advantage of AI?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T15:24:44+00:00", "dateModified": "2017-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Are You Taking Advantage of AI?", "datePublished": "2017-01-16T15:24:44+00:00", "dateModified": "2026-10-09T04:50:05+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/5160192f97ef40748b06234b524beaad/thumbnail-1024-b165bb3301f4b56d56077a8b438a925a34e81a4039db71b1a53faa81fe09653d.jpg", "description": "Joanne Smith explains how artificial intelligence is already changing everyday services, financial compliance and customer conversations, and why firms should consider how it can rebuild trust.", "inLanguage": "en-GB", "articleBody": "AI is already being used in practical ways across industries, from diagnosis and customer email analysis to compliance monitoring. Joanne Smith argues that firms can use it to improve transparency, reduce manual record-keeping and support better customer outcomes.\n\nThe future of Artificial Intelligence is already here \u2013 and it\u2019s not just for techies. Joanne Smith, CEO of Recordsure and TCC, believes that AI is for everyone.\n\nIn one week, Joanne Smith had seen Artificial Intelligence used to diagnose Alzheimer\u2019s disease, brew better tasting beer and keep cats away from a garden-proud software engineer\u2019s lawn. AI is here and is no longer confined to robots or Hollywood science fiction.\n\nIn practice, today\u2019s AI is often about algorithms analysing and processing large amounts of data. It can drive systems and applications in the background without the end user knowing it is there.\n\nThe AI effect\n\nAI is already changing industries and creating economic advantages. Some legal firms use AI to process property deeds for planning permission, turning a task that used to take trainees and paralegals 15 minutes by hand into work completed in seconds.\n\nIts value is not limited to processing or administration. AI is increasingly used to understand and analyse information. Virgin Trains uses an AI platform called inSTREAM to categorise customer emails, reading them for meaning and sentiment and reducing the man hours required from 35 to four.\n\nAI does not have to replace human interactions. It can also support and enhance them. Digital channels have increased, but there is still a significant need for verbal conversations between staff and customers.\n\nMany people are more comfortable speaking directly with someone because it feels more transparent and trustworthy. That is especially true in financial advice, where customers prefer to build a relationship before discussing intimate affairs.\n\nTechnology equals opportunity\n\nJoanne founded Recordsure in 2012 after seeing that AI technology could help solve compliance issues facing financial institutions. Customer confidence had been eroded by the financial crisis and mis-selling scandals, creating an urgent need to rebuild trust.\n\nWith 30 years\u2019 experience in financial services compliance, including 16 years running TCC, she saw that technology could provide the protection and reassurance firms and customers needed. She committed substantial finances and recruited a research and development team.\n\nIn 2013 Recordsure launched as a system using high quality recording techniques and AI technology to record and analyse customer and staff conversations, whether face-to-face or over the phone.\n\nBuilding trust and transparency\n\nRecordsure helps firms provide recordings of customer conversations and analyse those conversations to detect and flag potential mis-selling risks. That supports trust and transparency while replacing labour-intensive record keeping, a major burden for financial institutions.\n\nThe principle is simple: if a firm can record the conversation, it does not need to rely only on written notes from that conversation. Customers should be able to feel safe, reassured and protected when buying financial products and services, knowing they can access an authoritative record of what was said if required.\n\nThe same analysis helps business leaders identify the most at-risk conversations and address behaviours that contributed to poor outcomes in financial services.\n\nBeyond financial services\n\nThe system is relevant beyond compliance and across sectors. By monitoring and analysing conversations, businesses can check whether customers receive good service, gather insight for business decisions and identify opportunities or areas for improvement.\n\nFor any organisation with regular customer conversations, Recordsure can become a tool for understanding those interactions. The question for leaders is what system, process or cultural improvements they could make if they used AI in their business.", "wordCount": 591, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "AI opportunity" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "text": "The future of Artificial Intelligence is already here \u2013 and it\u2019s not just for techies. Joanne Smith, CEO of Recordsure and TCC, believes that AI is for everyone.\n\nIn one week, Joanne Smith had seen Artificial Intelligence used to diagnose Alzheimer\u2019s disease, brew better tasting beer and keep cats away from a garden-proud software engineer\u2019s lawn. AI is here and is no longer confined to robots or Hollywood science fiction.\n\nIn practice, today\u2019s AI is often about algorithms analysing and processing large amounts of data. It can drive systems and applications in the background without the end user knowing it is there." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "headline": "The AI effect", "text": "AI is already changing industries and creating economic advantages. Some legal firms use AI to process property deeds for planning permission, turning a task that used to take trainees and paralegals 15 minutes by hand into work completed in seconds.\n\nIts value is not limited to processing or administration. AI is increasingly used to understand and analyse information. Virgin Trains uses an AI platform called inSTREAM to categorise customer emails, reading them for meaning and sentiment and reducing the man hours required from 35 to four.\n\nAI does not have to replace human interactions. It can also support and enhance them. Digital channels have increased, but there is still a significant need for verbal conversations between staff and customers.\n\nMany people are more comfortable speaking directly with someone because it feels more transparent and trustworthy. That is especially true in financial advice, where customers prefer to build a relationship before discussing intimate affairs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Technology equals opportunity", "text": "Joanne founded Recordsure in 2012 after seeing that AI technology could help solve compliance issues facing financial institutions. Customer confidence had been eroded by the financial crisis and mis-selling scandals, creating an urgent need to rebuild trust.\n\nWith 30 years\u2019 experience in financial services compliance, including 16 years running TCC, she saw that technology could provide the protection and reassurance firms and customers needed. She committed substantial finances and recruited a research and development team.\n\nIn 2013 Recordsure launched as a system using high quality recording techniques and AI technology to record and analyse customer and staff conversations, whether face-to-face or over the phone." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Building trust and transparency", "text": "Recordsure helps firms provide recordings of customer conversations and analyse those conversations to detect and flag potential mis-selling risks. That supports trust and transparency while replacing labour-intensive record keeping, a major burden for financial institutions.\n\nThe principle is simple: if a firm can record the conversation, it does not need to rely only on written notes from that conversation. Customers should be able to feel safe, reassured and protected when buying financial products and services, knowing they can access an authoritative record of what was said if required.\n\nThe same analysis helps business leaders identify the most at-risk conversations and address behaviours that contributed to poor outcomes in financial services." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "headline": "Beyond financial services", "text": "The system is relevant beyond compliance and across sectors. By monitoring and analysing conversations, businesses can check whether customers receive good service, gather insight for business decisions and identify opportunities or areas for improvement.\n\nFor any organisation with regular customer conversations, Recordsure can become a tool for understanding those interactions. The question for leaders is what system, process or cultural improvements they could make if they used AI in their business." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-you-taking-advantage-of-ai/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "How is AI already being used in everyday settings?", "acceptedAnswer": { "@type": "Answer", "text": "AI is already being used to diagnose Alzheimer\u2019s disease, brew better tasting beer, deter cats from a lawn and process or analyse large volumes of business data." } }, { "@type": "Question", "name": "Why did Joanne Smith found Recordsure?", "acceptedAnswer": { "@type": "Answer", "text": "She saw that AI and recording technology could help financial institutions rebuild trust after the financial crisis and mis-selling scandals by improving evidence, transparency and compliance oversight." } }, { "@type": "Question", "name": "Should AI replace human conversations?", "acceptedAnswer": { "@type": "Answer", "text": "No. It says AI can support and enhance human interactions, particularly where customers still value direct conversations about sensitive financial matters." } }, { "@type": "Question", "name": "How can conversation analysis help firms beyond compliance?", "acceptedAnswer": { "@type": "Answer", "text": "It can help monitor service quality, inform business decisions and identify opportunities and areas for improvement across regular customer conversations." } } ] } ] } ``` ### A Case of ‘Big Brother’ or Better Results? - URL: https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Conversation recording Conversation recording can improve customer experience, monitoring and confidence when firms explain the protection that authentic records provide. #### Key points - Conversation recording can support MiFID II compliance and better monitoring of customer service. - Recorded data can show where service delivery causes friction and where processes need improvement. - Recordsure research said almost two-thirds of consumers were happy to be recorded. **From CCTV on every street corner to “smart technology” that can track every move, many detractors have denounced the growth of technology and monitoring solutions as the slippery slope to a “Big Brother” state. But while some individuals may resent what is perceived to be an intrusion into their lives, there are numerous examples of technology and monitoring solutions that have improved the customer experience.** #### Inspiring greater customer loyalty One such solution is conversation recording. The rise of conversation recording in the financial services industry has led to many advantages for firms, from enabling compliance with MiFID II requirements to better monitoring of customer service and staff competency levels. One of the key resulting benefits lies in the subsequent data. This data is a window into organisations, automatically highlighting areas where process improvements can be made or where aspects of service delivery are causing friction. This enables firms to make continuous improvements to their offering. Successful firms know that great service and the right product inspire greater loyalty among customers and are benefiting from the positive impact this has on the bottom line. The detailed management information delivered by Recordsure’s compliance monitoring solution enables clients to identify individuals, teams, business areas and products that are not operating according to business and regulatory standards, and therefore apply remedial measures quickly and efficiently. This puts them in a better position to provide service and products that match customer needs and desires. #### Turning hesitancy into confidence Despite the benefits of conversation recording, not everyone is convinced. Objections have been raised that consumers may not be happy having the details of their financial affairs and sensitive personal data recorded and stored. This argument is echoed by some consumers, but it is by no means unanimous. Recordsure research conducted the previous year found that almost 2/3 consumers are happy to be recorded. With 71% wanting to receive an audio copy of the conversation to recall what was said in the event of a complaint, the majority of customers were recognising the protection that authentic recording can provide. The industry needs to be better at educating consumers about these advantages. This can help address “Big Brother” concerns and turn hesitancy into confidence that financial services firms are taking measures to protect customers and enhance the customer experience. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "A Case of \u2018Big Brother\u2019 or Better Results?", "item": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/", "name": "A Case of \u2018Big Brother\u2019 or Better Results?", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T15:17:42+00:00", "dateModified": "2017-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "A Case of \u2018Big Brother\u2019 or Better Results?", "datePublished": "2017-01-16T15:17:42+00:00", "dateModified": "2026-10-09T04:50:03+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/290e32fddf734bf4afd28ecb32235ab8/thumbnail-1024-f4415cce097359f814f832dc12bf72a1e5268e27fb971ceea37b70bcc9e8276a.jpg", "description": "Conversation recording can improve customer experience, monitoring and confidence when firms explain the protection that authentic records provide.", "inLanguage": "en-GB", "articleBody": "Conversation recording can improve customer experience, monitoring and confidence when firms explain the protection that authentic records provide.\n\nFrom CCTV on every street corner to \u201csmart technology\u201d that can track every move, many detractors have denounced the growth of technology and monitoring solutions as the slippery slope to a \u201cBig Brother\u201d state. But while some individuals may resent what is perceived to be an intrusion into their lives, there are numerous examples of technology and monitoring solutions that have improved the customer experience.\n\nInspiring greater customer loyalty\n\nOne such solution is conversation recording. The rise of conversation recording in the financial services industry has led to many advantages for firms, from enabling compliance with MiFID II requirements to better monitoring of customer service and staff competency levels.\n\nOne of the key resulting benefits lies in the subsequent data. This data is a window into organisations, automatically highlighting areas where process improvements can be made or where aspects of service delivery are causing friction. This enables firms to make continuous improvements to their offering.\n\nSuccessful firms know that great service and the right product inspire greater loyalty among customers and are benefiting from the positive impact this has on the bottom line.\n\nThe detailed management information delivered by Recordsure\u2019s compliance monitoring solution enables clients to identify individuals, teams, business areas and products that are not operating according to business and regulatory standards, and therefore apply remedial measures quickly and efficiently. This puts them in a better position to provide service and products that match customer needs and desires.\n\nTurning hesitancy into confidence\n\nDespite the benefits of conversation recording, not everyone is convinced. Objections have been raised that consumers may not be happy having the details of their financial affairs and sensitive personal data recorded and stored.\n\nThis argument is echoed by some consumers, but it is by no means unanimous. Recordsure research conducted the previous year found that almost 2/3 consumers are happy to be recorded. With 71% wanting to receive an audio copy of the conversation to recall what was said in the event of a complaint, the majority of customers were recognising the protection that authentic recording can provide.\n\nThe industry needs to be better at educating consumers about these advantages. This can help address \u201cBig Brother\u201d concerns and turn hesitancy into confidence that financial services firms are taking measures to protect customers and enhance the customer experience.", "wordCount": 399, "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-3" } ], "about": [ { "@type": "Thing", "name": "Conversation recording" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "inLanguage": "en-GB", "text": "From CCTV on every street corner to \u201csmart technology\u201d that can track every move, many detractors have denounced the growth of technology and monitoring solutions as the slippery slope to a \u201cBig Brother\u201d state. But while some individuals may resent what is perceived to be an intrusion into their lives, there are numerous examples of technology and monitoring solutions that have improved the customer experience." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "inLanguage": "en-GB", "headline": "Inspiring greater customer loyalty", "text": "One such solution is conversation recording. The rise of conversation recording in the financial services industry has led to many advantages for firms, from enabling compliance with MiFID II requirements to better monitoring of customer service and staff competency levels.\n\nOne of the key resulting benefits lies in the subsequent data. This data is a window into organisations, automatically highlighting areas where process improvements can be made or where aspects of service delivery are causing friction. This enables firms to make continuous improvements to their offering.\n\nSuccessful firms know that great service and the right product inspire greater loyalty among customers and are benefiting from the positive impact this has on the bottom line.\n\nThe detailed management information delivered by Recordsure\u2019s compliance monitoring solution enables clients to identify individuals, teams, business areas and products that are not operating according to business and regulatory standards, and therefore apply remedial measures quickly and efficiently. This puts them in a better position to provide service and products that match customer needs and desires." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "inLanguage": "en-GB", "headline": "Turning hesitancy into confidence", "text": "Despite the benefits of conversation recording, not everyone is convinced. Objections have been raised that consumers may not be happy having the details of their financial affairs and sensitive personal data recorded and stored.\n\nThis argument is echoed by some consumers, but it is by no means unanimous. Recordsure research conducted the previous year found that almost 2/3 consumers are happy to be recorded. With 71% wanting to receive an audio copy of the conversation to recall what was said in the event of a complaint, the majority of customers were recognising the protection that authentic recording can provide.\n\nThe industry needs to be better at educating consumers about these advantages. This can help address \u201cBig Brother\u201d concerns and turn hesitancy into confidence that financial services firms are taking measures to protect customers and enhance the customer experience." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/a-case-of-big-brother-or-better-results/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why can conversation recording help firms?", "acceptedAnswer": { "@type": "Answer", "text": "It supports MiFID II compliance, monitoring of customer service, staff competency and process improvement." } }, { "@type": "Question", "name": "What did the consumer research show?", "acceptedAnswer": { "@type": "Answer", "text": "Almost two-thirds of consumers were happy to be recorded, and 71% wanted an audio copy after a conversation." } } ] } ] } ``` ### Are there brighter times in banking ahead? - URL: https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Mis-selling culture Mis-selling, culture change and the risk of poor conduct returning mean banks, regulators and shareholders must keep focusing on culture, controls and advice risks. #### Key points - New City Agenda’s study put the total cost of mis-selling scandals at almost £53 billion. - PPI alone cost £37.3 billion, four times more than the London 2012 Olympics. - Culture change in large banks may take years or decades because behaviours are deeply embedded. - Shareholders should ask stronger questions about controls, governance and cultural drivers. Wherever you turn, from the FCA’s website to national and business media, the issue of mis-selling continues to linger around the industry. New City Agenda’s [annual study](http://newcityagenda.co.uk/?p=626) into banks’ progress towards embedding cultural change highlights that the total cost of mis-selling scandals has increased to almost £53 billion. With a total cost of £37.3 billion, PPI alone has cost the industry four times more than the London 2012 Olympics. As the figure continues to rise, retail banking may not be at the end of the mis-selling era. Without stronger controls and culture change to ensure poor conduct does not prevail, the industry risks failing to learn from the same mistakes. Culture change within a bank with multiple locations, thousands of employees and embedded behaviours is a significant undertaking. Customer centricity, policies and strategies are not enough if the organisation does not live and breathe the new culture. Eliminating residual embedded behaviours in a large organisation may take years or decades. Although positive steps are being taken, the industry is a long way from seeing those measures dramatically reduce mis-selling and other consequences of poor conduct. #### Is financial advice still a risk? Financial advice offered by banks was one of the primary sources of poor conduct issues. As compliance costs increased, banks largely withdrew from the advice market. However, conduct issues may resurface if banks return to advice. When developing a full advice proposition, banks will need to balance offering a service priced appropriately for the market with covering the compliance costs of administering it. With its focus on making compliance more efficient and cost-effective, Recordsure could help banks make a competitive return to advice. Robo-advice, hailed as the advice solution for all areas of the market, could become the root of another mis-selling scandal if the service inappropriately strays into advice. The FCA is expected to keep a close watch on the robo-advice market through Project Innovate and the Regulatory Sandbox, reducing the likelihood of poor consumer outcomes. Despite this, the product that has been most financially damaging to the industry, PPI, was non-advised. The blame and future risk therefore cannot simply sit with advice. #### Where do shareholders come in? It is important to move away from the idea that mis-selling scandals belong to the past. The threat remains, and shareholders should take stronger action to promote process, governance and cultural improvements that may have contributed to historical mis-selling issues. Shareholders can start by making sure the right questions are asked. Questions about measures to prevent future mis-selling and the cultural drivers behind conduct can build a clearer picture of a bank’s internal culture than headline figures alone. Armed with that knowledge, shareholders can use their position to champion positive cultural initiatives. #### Culture change remains unfinished Banks and the regulator are making important inroads into culture change despite continuing mis-selling headlines. Unless underlying cultural and control issues are addressed, they will continue to affect financial services. Rectifying poor behaviours of the past will require significant time, tenacity and resources, and may continue into the rest of the decade and perhaps the next. Recordsure can help firms save time and reduce compliance costs through its solution. #### Supporting sources - [New City Agenda annual study](http://newcityagenda.co.uk/?p=626) > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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New City Agenda\u2019s annual study into banks\u2019 progress towards embedding cultural change highlights that the total cost of mis-selling scandals has increased to almost \u00a353 billion. With a total cost of \u00a337.3 billion, PPI alone has cost the industry four times more than the London 2012 Olympics.\n\nAs the figure continues to rise, retail banking may not be at the end of the mis-selling era. Without stronger controls and culture change to ensure poor conduct does not prevail, the industry risks failing to learn from the same mistakes.\n\nCulture change within a bank with multiple locations, thousands of employees and embedded behaviours is a significant undertaking. Customer centricity, policies and strategies are not enough if the organisation does not live and breathe the new culture. Eliminating residual embedded behaviours in a large organisation may take years or decades. Although positive steps are being taken, the industry is a long way from seeing those measures dramatically reduce mis-selling and other consequences of poor conduct.\n\nIs financial advice still a risk?\n\nFinancial advice offered by banks was one of the primary sources of poor conduct issues. As compliance costs increased, banks largely withdrew from the advice market. However, conduct issues may resurface if banks return to advice.\n\nWhen developing a full advice proposition, banks will need to balance offering a service priced appropriately for the market with covering the compliance costs of administering it. With its focus on making compliance more efficient and cost-effective, Recordsure could help banks make a competitive return to advice.\n\nRobo-advice, hailed as the advice solution for all areas of the market, could become the root of another mis-selling scandal if the service inappropriately strays into advice. The FCA is expected to keep a close watch on the robo-advice market through Project Innovate and the Regulatory Sandbox, reducing the likelihood of poor consumer outcomes.\n\nDespite this, the product that has been most financially damaging to the industry, PPI, was non-advised. The blame and future risk therefore cannot simply sit with advice.\n\nWhere do shareholders come in?\n\nIt is important to move away from the idea that mis-selling scandals belong to the past. The threat remains, and shareholders should take stronger action to promote process, governance and cultural improvements that may have contributed to historical mis-selling issues.\n\nShareholders can start by making sure the right questions are asked. Questions about measures to prevent future mis-selling and the cultural drivers behind conduct can build a clearer picture of a bank\u2019s internal culture than headline figures alone. Armed with that knowledge, shareholders can use their position to champion positive cultural initiatives.\n\nCulture change remains unfinished\n\nBanks and the regulator are making important inroads into culture change despite continuing mis-selling headlines. Unless underlying cultural and control issues are addressed, they will continue to affect financial services. Rectifying poor behaviours of the past will require significant time, tenacity and resources, and may continue into the rest of the decade and perhaps the next.\n\nRecordsure can help firms save time and reduce compliance costs through its solution.", "wordCount": 549, "keywords": [ "Banking", "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Mis-selling culture" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-4" } ], "citation": [ { "@type": "CreativeWork", "name": "New City Agenda annual study", "url": "http://newcityagenda.co.uk/?p=626" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#webpage" }, "inLanguage": "en-GB", "text": "Wherever you turn, from the FCA\u2019s website to national and business media, the issue of mis-selling continues to linger around the industry. New City Agenda\u2019s annual study into banks\u2019 progress towards embedding cultural change highlights that the total cost of mis-selling scandals has increased to almost \u00a353 billion. With a total cost of \u00a337.3 billion, PPI alone has cost the industry four times more than the London 2012 Olympics.\n\nAs the figure continues to rise, retail banking may not be at the end of the mis-selling era. Without stronger controls and culture change to ensure poor conduct does not prevail, the industry risks failing to learn from the same mistakes.\n\nCulture change within a bank with multiple locations, thousands of employees and embedded behaviours is a significant undertaking. Customer centricity, policies and strategies are not enough if the organisation does not live and breathe the new culture. Eliminating residual embedded behaviours in a large organisation may take years or decades. Although positive steps are being taken, the industry is a long way from seeing those measures dramatically reduce mis-selling and other consequences of poor conduct." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#webpage" }, "inLanguage": "en-GB", "headline": "Is financial advice still a risk?", "text": "Financial advice offered by banks was one of the primary sources of poor conduct issues. As compliance costs increased, banks largely withdrew from the advice market. However, conduct issues may resurface if banks return to advice.\n\nWhen developing a full advice proposition, banks will need to balance offering a service priced appropriately for the market with covering the compliance costs of administering it. With its focus on making compliance more efficient and cost-effective, Recordsure could help banks make a competitive return to advice.\n\nRobo-advice, hailed as the advice solution for all areas of the market, could become the root of another mis-selling scandal if the service inappropriately strays into advice. The FCA is expected to keep a close watch on the robo-advice market through Project Innovate and the Regulatory Sandbox, reducing the likelihood of poor consumer outcomes.\n\nDespite this, the product that has been most financially damaging to the industry, PPI, was non-advised. The blame and future risk therefore cannot simply sit with advice." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#webpage" }, "inLanguage": "en-GB", "headline": "Where do shareholders come in?", "text": "It is important to move away from the idea that mis-selling scandals belong to the past. The threat remains, and shareholders should take stronger action to promote process, governance and cultural improvements that may have contributed to historical mis-selling issues.\n\nShareholders can start by making sure the right questions are asked. Questions about measures to prevent future mis-selling and the cultural drivers behind conduct can build a clearer picture of a bank\u2019s internal culture than headline figures alone. Armed with that knowledge, shareholders can use their position to champion positive cultural initiatives." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#webpage" }, "inLanguage": "en-GB", "headline": "Culture change remains unfinished", "text": "Banks and the regulator are making important inroads into culture change despite continuing mis-selling headlines. Unless underlying cultural and control issues are addressed, they will continue to affect financial services. Rectifying poor behaviours of the past will require significant time, tenacity and resources, and may continue into the rest of the decade and perhaps the next.\n\nRecordsure can help firms save time and reduce compliance costs through its solution." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/are-there-brighter-times-in-banking-ahead/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What mis-selling figures are cited?", "acceptedAnswer": { "@type": "Answer", "text": "It cites almost \u00a353 billion in total mis-selling scandal costs and \u00a337.3 billion for PPI alone." } }, { "@type": "Question", "name": "Why is culture change difficult?", "acceptedAnswer": { "@type": "Answer", "text": "Large banks have multiple locations, thousands of employees and embedded behaviours, so cultural change can take years or decades." } }, { "@type": "Question", "name": "What role can shareholders play?", "acceptedAnswer": { "@type": "Answer", "text": "They can ask stronger questions about controls, governance and cultural drivers, and use their position to support positive cultural initiatives." } } ] } ] } ``` ### £193 billion: the real cost of poor recordkeeping - URL: https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Poor recordkeeping Inadequate record keeping can undermine suitability evidence in wealth management, making complete interaction records essential for customer protection. #### Key points - The FCA found suitability concerns in investment portfolios it reviewed. - Inadequate record keeping and weak governance can leave firms unable to evidence suitability. - Recording every customer interaction can reduce unclear files and support compliance. The wealth management industry was rocked when the FCA published its thematic review into the suitability of investment portfolios. 60% of investment portfolios reviewed by the regulator were found to have a high risk of unsuitability or were unclear. Two of the key failings were inadequate record keeping and inadequate governance and monitoring arrangements. Without either of these, firms are unable to fully evidence suitability and therefore cannot fulfil their regulatory obligations. Record keeping is a small but vital part of any financial services business, and the review demonstrates the potential pitfalls of not getting it right. The thematic review found that 23% of files had a high chance of unsuitability and 37% were deemed unclear. Looking more closely at those numbers, the wealth management industry contributes approximately £5.5 billion a year to the UK economy, about the same as a city the size of Brighton and Hove, and handles about £524 billion pounds worth of client assets. Based on the FCA’s findings, an estimated £120bn needs to be redressed and £193bn may need to be redressed purely because of inadequate record keeping. #### Protect your customers Reviewing potentially unsuitable cases is time consuming, expensive and stressful for staff. We believe the only way to strengthen record keeping is by recording every interaction between customers and staff members, including over the phone, via video conferencing or face to face. By capturing every conversation, firms can reduce instances of unclear files. As the Recordsure system analyses more conversations, it can flag instances of non-compliance and reduce the likelihood of unsuitability. The FCA is focusing on wealth management firms, so firms should be proactive and protect clients. Our Recordsure solution can reduce compliance costs. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "\u00a3193 billion: the real cost of poor recordkeeping", "item": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/", "name": "\u00a3193 billion: the real cost of poor recordkeeping", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T14:59:52+00:00", "dateModified": "2017-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "\u00a3193 billion: the real cost of poor recordkeeping", "datePublished": "2017-01-16T14:59:52+00:00", "dateModified": "2026-10-09T04:50:03+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/847797f0f6374428a9bda1ecaf0153d5/thumbnail-1024-7f5a45759fae6f1534b3d66396a80c64c0bb1a652d9f0851586edf59f5269460.jpg", "description": "Inadequate record keeping can undermine suitability evidence in wealth management, making complete interaction records essential for customer protection.", "inLanguage": "en-GB", "articleBody": "Inadequate record keeping can undermine suitability evidence in wealth management, making complete interaction records essential for customer protection.\n\nThe wealth management industry was rocked when the FCA published its thematic review into the suitability of investment portfolios. 60% of investment portfolios reviewed by the regulator were found to have a high risk of unsuitability or were unclear.\n\nTwo of the key failings were inadequate record keeping and inadequate governance and monitoring arrangements. Without either of these, firms are unable to fully evidence suitability and therefore cannot fulfil their regulatory obligations.\n\nRecord keeping is a small but vital part of any financial services business, and the review demonstrates the potential pitfalls of not getting it right. The thematic review found that 23% of files had a high chance of unsuitability and 37% were deemed unclear.\n\nLooking more closely at those numbers, the wealth management industry contributes approximately \u00a35.5 billion a year to the UK economy, about the same as a city the size of Brighton and Hove, and handles about \u00a3524 billion pounds worth of client assets.\n\nBased on the FCA\u2019s findings, an estimated \u00a3120bn needs to be redressed and \u00a3193bn may need to be redressed purely because of inadequate record keeping.\n\nProtect your customers\n\nReviewing potentially unsuitable cases is time consuming, expensive and stressful for staff. We believe the only way to strengthen record keeping is by recording every interaction between customers and staff members, including over the phone, via video conferencing or face to face.\n\nBy capturing every conversation, firms can reduce instances of unclear files. As the Recordsure system analyses more conversations, it can flag instances of non-compliance and reduce the likelihood of unsuitability.\n\nThe FCA is focusing on wealth management firms, so firms should be proactive and protect clients. Our Recordsure solution can reduce compliance costs.", "wordCount": 299, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Poor recordkeeping" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#analysis-2" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#webpage" }, "inLanguage": "en-GB", "text": "The wealth management industry was rocked when the FCA published its thematic review into the suitability of investment portfolios. 60% of investment portfolios reviewed by the regulator were found to have a high risk of unsuitability or were unclear.\n\nTwo of the key failings were inadequate record keeping and inadequate governance and monitoring arrangements. Without either of these, firms are unable to fully evidence suitability and therefore cannot fulfil their regulatory obligations.\n\nRecord keeping is a small but vital part of any financial services business, and the review demonstrates the potential pitfalls of not getting it right. 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We believe the only way to strengthen record keeping is by recording every interaction between customers and staff members, including over the phone, via video conferencing or face to face.\n\nBy capturing every conversation, firms can reduce instances of unclear files. As the Recordsure system analyses more conversations, it can flag instances of non-compliance and reduce the likelihood of unsuitability.\n\nThe FCA is focusing on wealth management firms, so firms should be proactive and protect clients. Our Recordsure solution can reduce compliance costs." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/193-billion-the-real-cost-of-poor-recordkeeping/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What did the FCA thematic review find?", "acceptedAnswer": { "@type": "Answer", "text": "60% of reviewed investment portfolios had a high risk of unsuitability or were unclear." } }, { "@type": "Question", "name": "Why is record keeping important?", "acceptedAnswer": { "@type": "Answer", "text": "Without adequate records and governance, firms cannot fully evidence suitability or fulfil their regulatory obligations." } } ] } ] } ``` ### Three big problems with call recording - URL: https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Call recording gaps Call recording alone does not always capture face-to-face or field conversations, and audio review can be time-consuming. Recordsure addresses these gaps by capturing more interactions, segmenting conversations and enabling a greater proportion of business to be checked. #### Key points - Call recording does not always capture branch or field conversations. - Reviewing full audio files can take substantial employee time. - Current quality monitoring may average only 5% – 10% of business written. - Recordsure can record more interaction types and segment audio for targeted review. Financial services firms have embraced call recording requirements, and customers and staff are now used to routine recording. A record of interactions between customers and customer-facing staff should support evidence of suitability and good consumer outcomes. Conventional call recording still leaves firms with three recurring issues. #### It does not provide complete coverage Many systems capture telephone conversations, but large numbers of conversations still happen in branches or in the field. These may not be recorded and can be documented only through meeting notes, which may be inaccurate or incomplete. #### Time is money Audio files can take a long time to review, especially when reviewers are looking for one part of a conversation, such as discussion of a client’s attitude to risk. That review time can increase compliance costs. #### Inadequate assurance Using current quality monitoring methods, it can be difficult to monitor most business written. Many firms average only 5% – 10%, meaning issues are less likely to be identified before consumer detriment occurs. #### How Recordsure responds [Recordsure](/technology/conversation-intelligence/) can address these issues by improving coverage, segmenting audio and providing greater assurance. Recordsure’s Capture app records conversations that happen online or face-to-face. To reduce review time, [Recordsure’s Conversation Intelligence](/technology/conversation-intelligence/) segments each conversation so reviewers can focus on key risk areas without listening to the whole conversation. Recordsure also enables faster and more efficient file checking, so a greater proportion of business can be checked. It can integrate with existing call recording infrastructure and has been built to work with existing systems. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Three big problems with call recording", "item": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/", "name": "Three big problems with call recording", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T14:29:35+00:00", "dateModified": "2024-05-07T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2024-05-07" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Three big problems with call recording", "datePublished": "2017-01-16T14:29:35+00:00", "dateModified": "2026-10-09T04:50:21+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/83f76bd712974352a3b8fa327f3a5fab/thumbnail-1024-7655dfc47aa707ae2f46778e3c7b027bd1177f613026b265b302c0411fc7a120.jpg", "description": "Call recording can support evidence and suitability checks, but firms may still face gaps in coverage, slow reviews and limited assurance across business written.", "inLanguage": "en-GB", "articleBody": "Call recording alone does not always capture face-to-face or field conversations, and audio review can be time-consuming. Recordsure addresses these gaps by capturing more interactions, segmenting conversations and enabling a greater proportion of business to be checked.\n\nFinancial services firms have embraced call recording requirements, and customers and staff are now used to routine recording. A record of interactions between customers and customer-facing staff should support evidence of suitability and good consumer outcomes.\n\nConventional call recording still leaves firms with three recurring issues.\n\nIt does not provide complete coverage\n\nMany systems capture telephone conversations, but large numbers of conversations still happen in branches or in the field. These may not be recorded and can be documented only through meeting notes, which may be inaccurate or incomplete.\n\nTime is money\n\nAudio files can take a long time to review, especially when reviewers are looking for one part of a conversation, such as discussion of a client\u2019s attitude to risk. That review time can increase compliance costs.\n\nInadequate assurance\n\nUsing current quality monitoring methods, it can be difficult to monitor most business written. Many firms average only 5% \u2013 10%, meaning issues are less likely to be identified before consumer detriment occurs.\n\nHow Recordsure responds\n\nRecordsure can address these issues by improving coverage, segmenting audio and providing greater assurance.\n\nRecordsure\u2019s Capture app records conversations that happen online or face-to-face. To reduce review time, Recordsure\u2019s Conversation Intelligence segments each conversation so reviewers can focus on key risk areas without listening to the whole conversation.\n\nRecordsure also enables faster and more efficient file checking, so a greater proportion of business can be checked. It can integrate with existing call recording infrastructure and has been built to work with existing systems.", "wordCount": 286, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Call recording gaps" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "text": "Financial services firms have embraced call recording requirements, and customers and staff are now used to routine recording. A record of interactions between customers and customer-facing staff should support evidence of suitability and good consumer outcomes.\n\nConventional call recording still leaves firms with three recurring issues." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "It does not provide complete coverage", "text": "Many systems capture telephone conversations, but large numbers of conversations still happen in branches or in the field. These may not be recorded and can be documented only through meeting notes, which may be inaccurate or incomplete." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Time is money", "text": "Audio files can take a long time to review, especially when reviewers are looking for one part of a conversation, such as discussion of a client\u2019s attitude to risk. That review time can increase compliance costs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Inadequate assurance", "text": "Using current quality monitoring methods, it can be difficult to monitor most business written. Many firms average only 5% \u2013 10%, meaning issues are less likely to be identified before consumer detriment occurs." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "How Recordsure responds", "text": "Recordsure can address these issues by improving coverage, segmenting audio and providing greater assurance.\n\nRecordsure\u2019s Capture app records conversations that happen online or face-to-face. To reduce review time, Recordsure\u2019s Conversation Intelligence segments each conversation so reviewers can focus on key risk areas without listening to the whole conversation.\n\nRecordsure also enables faster and more efficient file checking, so a greater proportion of business can be checked. It can integrate with existing call recording infrastructure and has been built to work with existing systems." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-big-problems-with-call-recording/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What coverage gap can call recording leave?", "acceptedAnswer": { "@type": "Answer", "text": "Conversations in branches or in the field may not be recorded and may rely on meeting notes." } }, { "@type": "Question", "name": "Why can audio review be costly?", "acceptedAnswer": { "@type": "Answer", "text": "Reviewing full audio files can take a long time, especially when reviewers only need to check one part of a conversation." } }, { "@type": "Question", "name": "What monitoring level do many firms achieve?", "acceptedAnswer": { "@type": "Answer", "text": "Many firms can average only 5% \u2013 10% of business written under current quality monitoring methods." } }, { "@type": "Question", "name": "How does Recordsure reduce review effort?", "acceptedAnswer": { "@type": "Answer", "text": "Recordsure segments conversations so reviewers can target key risk areas without listening to the whole recording." } } ] } ] } ``` ### Three ways to cut costs with call recording - URL: https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Recording cost savings For firms with in-branch or field sales teams, call-centre recording does not cover enough of the sales experience. Face-to-face recording can reduce mystery shopping, observation costs and travel time while improving quality monitoring coverage. #### Key points - Distributed sales teams can leave sales quality unmonitored or reliant on costly observation. - Face-to-face recording can remove the need for mystery shopping by 100%. - Remote review can cut quality observation costs by 75%. - Reducing travel can increase monitoring productivity by 100%. Call recording has long been valued for giving firms deeper insight into conversations between sales teams and customers. But firms with a distributed sales force, either in the field or in branch, may still leave a large proportion of sales quality unmonitored or dependent on costly observation and mystery shopping. Face-to-face recording can create three practical cost savings. #### Erase the need for mystery shopping by 100% Mystery shopping can help firms discreetly monitor the quality of in-branch and field-based sales, but it can be expensive. Face-to-face recording allows firms to access and assess real sales conversations that happen in the business every day, rather than paying a third-party provider to conduct mystery shopping. #### Cut quality observation costs by 75% Observation of in-branch and field-based staff involves travel, accommodation, time and people. Clients identify this spiralling cost as a core concern as regulation increases and sales and advice quality requirements rise. Face-to-face recording reduces the need to travel and observe staff on site. Monitoring staff can instead listen to audio recordings from one location. This matters because regulation is scaling up and firms face a requirement to improve sales and advice quality. Moving review work to recordings from one location reduces the travel and accommodation burden attached to on-site observation. #### Increase monitoring productivity by 100% Monitoring staff can spend considerable time travelling to observe distributed sales forces. Removing travel time allows them to conduct twice as many observations by listening to recordings of sales conversations. Performance management can also benefit because in-person observation can be intrusive and may not accurately represent real-life quality. That productivity gain comes directly from time previously spent travelling to observe distributed sales teams. That time can instead be redirected to monitoring activity using recordings of real sales conversations. #### Reducing the cost burden of compliance Current quality monitoring methods are imperfect, and face-to-face recording can create efficiencies. Recordsure helps clients improve quality monitoring productivity while reducing the cost burden of compliance. It also notes that the latest face-to-face recording technology can help firms gain efficiencies where existing monitoring is imperfect. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Three ways to cut costs with call recording", "item": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/", "name": "Three ways to cut costs with call recording", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T14:19:30+00:00", "dateModified": "2020-02-10T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2020-02-10" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Three ways to cut costs with call recording", "datePublished": "2017-01-16T14:19:30+00:00", "dateModified": "2026-10-09T04:50:22+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": null, "description": "Face-to-face recording can help firms reduce the cost of monitoring distributed sales teams by replacing some travel, observation and mystery shopping activity.", "inLanguage": "en-GB", "articleBody": "For firms with in-branch or field sales teams, call-centre recording does not cover enough of the sales experience. Face-to-face recording can reduce mystery shopping, observation costs and travel time while improving quality monitoring coverage.\n\nCall recording has long been valued for giving firms deeper insight into conversations between sales teams and customers. But firms with a distributed sales force, either in the field or in branch, may still leave a large proportion of sales quality unmonitored or dependent on costly observation and mystery shopping.\n\nFace-to-face recording can create three practical cost savings.\n\nErase the need for mystery shopping by 100%\n\nMystery shopping can help firms discreetly monitor the quality of in-branch and field-based sales, but it can be expensive. Face-to-face recording allows firms to access and assess real sales conversations that happen in the business every day, rather than paying a third-party provider to conduct mystery shopping.\n\nCut quality observation costs by 75%\n\nObservation of in-branch and field-based staff involves travel, accommodation, time and people. Clients identify this spiralling cost as a core concern as regulation increases and sales and advice quality requirements rise.\n\nFace-to-face recording reduces the need to travel and observe staff on site. Monitoring staff can instead listen to audio recordings from one location.\n\nThis matters because regulation is scaling up and firms face a requirement to improve sales and advice quality. Moving review work to recordings from one location reduces the travel and accommodation burden attached to on-site observation.\n\nIncrease monitoring productivity by 100%\n\nMonitoring staff can spend considerable time travelling to observe distributed sales forces. Removing travel time allows them to conduct twice as many observations by listening to recordings of sales conversations.\n\nPerformance management can also benefit because in-person observation can be intrusive and may not accurately represent real-life quality.\n\nThat productivity gain comes directly from time previously spent travelling to observe distributed sales teams. That time can instead be redirected to monitoring activity using recordings of real sales conversations.\n\nReducing the cost burden of compliance\n\nCurrent quality monitoring methods are imperfect, and face-to-face recording can create efficiencies. Recordsure helps clients improve quality monitoring productivity while reducing the cost burden of compliance.\n\nIt also notes that the latest face-to-face recording technology can help firms gain efficiencies where existing monitoring is imperfect.", "wordCount": 377, "keywords": [ "Wealth and Advice" ], "about": [ { "@type": "Thing", "name": "Wealth and Advice", "url": "https://recordsure.com/sector/wealth-and-advice/" }, { "@type": "Thing", "name": "Recording cost savings" } ], "audience": [ { "@type": "Audience", "audienceType": "Wealth and Advice" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-4" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-5" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "text": "Call recording has long been valued for giving firms deeper insight into conversations between sales teams and customers. But firms with a distributed sales force, either in the field or in branch, may still leave a large proportion of sales quality unmonitored or dependent on costly observation and mystery shopping.\n\nFace-to-face recording can create three practical cost savings." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Erase the need for mystery shopping by 100%", "text": "Mystery shopping can help firms discreetly monitor the quality of in-branch and field-based sales, but it can be expensive. Face-to-face recording allows firms to access and assess real sales conversations that happen in the business every day, rather than paying a third-party provider to conduct mystery shopping." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Cut quality observation costs by 75%", "text": "Observation of in-branch and field-based staff involves travel, accommodation, time and people. Clients identify this spiralling cost as a core concern as regulation increases and sales and advice quality requirements rise.\n\nFace-to-face recording reduces the need to travel and observe staff on site. Monitoring staff can instead listen to audio recordings from one location.\n\nThis matters because regulation is scaling up and firms face a requirement to improve sales and advice quality. Moving review work to recordings from one location reduces the travel and accommodation burden attached to on-site observation." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Increase monitoring productivity by 100%", "text": "Monitoring staff can spend considerable time travelling to observe distributed sales forces. Removing travel time allows them to conduct twice as many observations by listening to recordings of sales conversations.\n\nPerformance management can also benefit because in-person observation can be intrusive and may not accurately represent real-life quality.\n\nThat productivity gain comes directly from time previously spent travelling to observe distributed sales teams. That time can instead be redirected to monitoring activity using recordings of real sales conversations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#analysis-5", "position": 5, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "headline": "Reducing the cost burden of compliance", "text": "Current quality monitoring methods are imperfect, and face-to-face recording can create efficiencies. Recordsure helps clients improve quality monitoring productivity while reducing the cost burden of compliance.\n\nIt also notes that the latest face-to-face recording technology can help firms gain efficiencies where existing monitoring is imperfect." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/three-ways-to-cut-costs-with-call-recording/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why can call-centre recording be insufficient?", "acceptedAnswer": { "@type": "Answer", "text": "It may not cover distributed sales activity that happens in the field or in branch." } }, { "@type": "Question", "name": "How can face-to-face recording reduce mystery shopping?", "acceptedAnswer": { "@type": "Answer", "text": "It lets firms review real sales conversations, removing the need to pay a third party to conduct mystery shopping." } }, { "@type": "Question", "name": "What observation cost reduction is possible?", "acceptedAnswer": { "@type": "Answer", "text": "Face-to-face recording can cut the cost of quality observations by 75%." } }, { "@type": "Question", "name": "How can productivity increase?", "acceptedAnswer": { "@type": "Answer", "text": "Monitoring staff can avoid travel and listen to recordings from one location, enabling twice as many observations." } } ] } ] } ``` ### How insight from FinTech can ensure customer loyalty - URL: https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Customer loyalty Customer loyalty depends on trust, fast remediation and learning from what customers say. Interaction evidence and complaint trend analysis can help firms address errors and improve practices. #### Key points - Retaining loyal customers matters in competitive financial services markets. - When things go wrong, firms need to correct detriment and rebuild trust quickly. - Customer dissatisfaction on social media and review sites should be heard. - Recordsure was developed to reveal root causes of errors and complaints. - Analysing multiple complaints can show trends that improve processes. **In a competitive and global financial services market, where new, increasingly innovative, players continue to enter the sector, customer loyalty has become one of the most valuable commodities. Market leaders have long since recognised the economic good sense of retaining loyal customers in addition to attracting new ones.** We all know that in order to deliver products and services that ultimately result in customer loyalty, businesses need to understand and deliver beyond the aspirations and needs of their customers, keeping them interested and invested, whilst pacifying any doubts or fears. **Trust & confidence are the key to success** Successful businesses also acknowledge that sometimes things go wrong – after all, mistakes do happen! In order to have a better opportunity to ensure mistreated customers remain loyal despite recent experiences, things need to be put right quickly and efficiently. Whether it is correcting a simple administrative error or remediation of an unsuitable product recommendation, emphasis should be placed on not only redressing the financial detriment but also addressing the customer’s loss of trust and confidence. **Listening drives change** In the digital age that we now live in, never has it been easier to express dissatisfaction and be influenced by other people’s opinions. As social media influence grows and online reviewing continues to gain traction, it is time for business leaders to sit up and listen to what customers are saying and act upon it. It is common sense therefore, for financial services companies to ensure that they have the necessary processes and expertise in place to minimise the impact of mistakes and inappropriate conduct when it occurs. This is where FinTech can make a huge difference. Solutions that enable the quick rectification of complaints and errors, whilst at the same time mitigating the potential of future issues arising provide financial services firms with the tools to build and retain elusive customer loyalty and consequently increase competitive advantage. **FinTech is the way forward** One of the reasons we developed Recordsure was that there was no solution on the market that provided firms with the level of insight and data into the root causes of errors and, in many cases, poor conduct. Firms that use Recordsure find that the cause of an error or a complaint can be simply uncovered by listening to the audio recording of the meeting. It is a 100% authentic record, so there is no room for doubt and no need to rely on manually documented notes. This means that the customer can be remediated quickly and correctly and the issue that caused the problem flagged and addressed to reduce the potential for future occurrence. But where Recordsure really comes into its own, is when the data from multiple complaints is analysed. Having this comprehensive overview of where complaints and errors trends are emerging is a window into the business and often the market, providing firms with the information to improve practices and strengthen processes so that they are less likely to occur again. With no other product or compliance monitoring procedure are firms able to obtain the same level of insight and information. Financial services firms are taking full advantage of the growing range of FinTech products to establish themselves as market-leading and reputable businesses. Although many of these are customer-facing platforms seeking to improve accessibility and create superior user experiences, at Recordsure we are concerned with increasing protection – for both customers and firms – from the errors and misconduct of the future. In turn, firms can expect to increase the levels of customer trust and loyalty. Celebrate FinTech Week! This week, Joanne Smith is presenting the RecordSure solution at the FinTech Week event in London. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. [Explore the platform](https://recordsure.com/#technology) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "How insight from FinTech can ensure customer loyalty", "item": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/", "name": "How insight from FinTech can ensure customer loyalty", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T13:21:30+00:00", "dateModified": "2017-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "How insight from FinTech can ensure customer loyalty", "datePublished": "2017-01-16T13:21:30+00:00", "dateModified": "2026-10-09T04:50:13+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": "https://assets.tcc.group/1c1c2f3a6e9a4a0a9b0f6ab6a1a1d8a1/ba5cc786a44d4ed7977a4d9b750c99be/thumbnail-1024-a8538419703225b1eade799d7ea11c2c457f249e06287ce62103a96d29498e7b.jpg", "description": "Recordsure explains how better evidence from customer interactions can help firms correct errors, understand complaint trends and protect customer trust.", "inLanguage": "en-GB", "articleBody": "Customer loyalty depends on trust, fast remediation and learning from what customers say. Interaction evidence and complaint trend analysis can help firms address errors and improve practices.\n\nIn a competitive and global financial services market, where new, increasingly innovative, players continue to enter the sector, customer loyalty has become one of the most valuable commodities. Market leaders have long since recognised the economic good sense of retaining loyal customers in addition to attracting new ones.\n\nWe all know that in order to deliver products and services that ultimately result in customer loyalty, businesses need to understand and deliver beyond the aspirations and needs of their customers, keeping them interested and invested, whilst pacifying any doubts or fears.\n\nTrust & confidence are the key to success\n\nSuccessful businesses also acknowledge that sometimes things go wrong \u2013 after all, mistakes do happen! In order to have a better opportunity to ensure mistreated customers remain loyal despite recent experiences, things need to be put right quickly and efficiently. Whether it is correcting a simple administrative error or remediation of an unsuitable product recommendation, emphasis should be placed on not only redressing the financial detriment but also addressing the customer\u2019s loss of trust and confidence.\n\nListening drives change\n\nIn the digital age that we now live in, never has it been easier to express dissatisfaction and be influenced by other people\u2019s opinions. As social media influence grows and online reviewing continues to gain traction, it is time for business leaders to sit up and listen to what customers are saying and act upon it. It is common sense therefore, for financial services companies to ensure that they have the necessary processes and expertise in place to minimise the impact of mistakes and inappropriate conduct when it occurs.\n\nThis is where FinTech can make a huge difference. Solutions that enable the quick rectification of complaints and errors, whilst at the same time mitigating the potential of future issues arising provide financial services firms with the tools to build and retain elusive customer loyalty and consequently increase competitive advantage.\n\nFinTech is the way forward\n\nOne of the reasons we developed Recordsure was that there was no solution on the market that provided firms with the level of insight and data into the root causes of errors and, in many cases, poor conduct.\n\nFirms that use Recordsure find that the cause of an error or a complaint can be simply uncovered by listening to the audio recording of the meeting. It is a 100% authentic record, so there is no room for doubt and no need to rely on manually documented notes. This means that the customer can be remediated quickly and correctly and the issue that caused the problem flagged and addressed to reduce the potential for future occurrence.\n\nBut where Recordsure really comes into its own, is when the data from multiple complaints is analysed. Having this comprehensive overview of where complaints and errors trends are emerging is a window into the business and often the market, providing firms with the information to improve practices and strengthen processes so that they are less likely to occur again.\n\nWith no other product or compliance monitoring procedure are firms able to obtain the same level of insight and information.\n\nFinancial services firms are taking full advantage of the growing range of FinTech products to establish themselves as market-leading and reputable businesses. Although many of these are customer-facing platforms seeking to improve accessibility and create superior user experiences, at Recordsure we are concerned with increasing protection \u2013 for both customers and firms \u2013 from the errors and misconduct of the future. In turn, firms can expect to increase the levels of customer trust and loyalty.\n\nCelebrate FinTech Week! This week, Joanne Smith is presenting the RecordSure solution at the FinTech Week event in London.", "wordCount": 636, "keywords": [ "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "Customer loyalty" } ], "audience": [ { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#analysis-1" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#webpage" }, "inLanguage": "en-GB", "text": "In a competitive and global financial services market, where new, increasingly innovative, players continue to enter the sector, customer loyalty has become one of the most valuable commodities. Market leaders have long since recognised the economic good sense of retaining loyal customers in addition to attracting new ones.\n\nWe all know that in order to deliver products and services that ultimately result in customer loyalty, businesses need to understand and deliver beyond the aspirations and needs of their customers, keeping them interested and invested, whilst pacifying any doubts or fears.\n\nTrust & confidence are the key to success\n\nSuccessful businesses also acknowledge that sometimes things go wrong \u2013 after all, mistakes do happen! In order to have a better opportunity to ensure mistreated customers remain loyal despite recent experiences, things need to be put right quickly and efficiently. Whether it is correcting a simple administrative error or remediation of an unsuitable product recommendation, emphasis should be placed on not only redressing the financial detriment but also addressing the customer\u2019s loss of trust and confidence.\n\nListening drives change\n\nIn the digital age that we now live in, never has it been easier to express dissatisfaction and be influenced by other people\u2019s opinions. As social media influence grows and online reviewing continues to gain traction, it is time for business leaders to sit up and listen to what customers are saying and act upon it. It is common sense therefore, for financial services companies to ensure that they have the necessary processes and expertise in place to minimise the impact of mistakes and inappropriate conduct when it occurs.\n\nThis is where FinTech can make a huge difference. Solutions that enable the quick rectification of complaints and errors, whilst at the same time mitigating the potential of future issues arising provide financial services firms with the tools to build and retain elusive customer loyalty and consequently increase competitive advantage.\n\nFinTech is the way forward\n\nOne of the reasons we developed Recordsure was that there was no solution on the market that provided firms with the level of insight and data into the root causes of errors and, in many cases, poor conduct.\n\nFirms that use Recordsure find that the cause of an error or a complaint can be simply uncovered by listening to the audio recording of the meeting. It is a 100% authentic record, so there is no room for doubt and no need to rely on manually documented notes. This means that the customer can be remediated quickly and correctly and the issue that caused the problem flagged and addressed to reduce the potential for future occurrence.\n\nBut where Recordsure really comes into its own, is when the data from multiple complaints is analysed. Having this comprehensive overview of where complaints and errors trends are emerging is a window into the business and often the market, providing firms with the information to improve practices and strengthen processes so that they are less likely to occur again.\n\nWith no other product or compliance monitoring procedure are firms able to obtain the same level of insight and information.\n\nFinancial services firms are taking full advantage of the growing range of FinTech products to establish themselves as market-leading and reputable businesses. Although many of these are customer-facing platforms seeking to improve accessibility and create superior user experiences, at Recordsure we are concerned with increasing protection \u2013 for both customers and firms \u2013 from the errors and misconduct of the future. In turn, firms can expect to increase the levels of customer trust and loyalty.\n\nCelebrate FinTech Week! This week, Joanne Smith is presenting the RecordSure solution at the FinTech Week event in London." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/how-insight-from-fintech-can-ensure-customer-loyalty/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why does customer loyalty matter?", "acceptedAnswer": { "@type": "Answer", "text": "It says customer loyalty is valuable in a competitive market and that retaining loyal customers makes economic sense as well as attracting new ones." } }, { "@type": "Question", "name": "What should firms do when things go wrong?", "acceptedAnswer": { "@type": "Answer", "text": "They should put problems right quickly and efficiently, addressing both financial detriment and the customer\u2019s loss of trust and confidence." } }, { "@type": "Question", "name": "How can Recordsure help with complaints?", "acceptedAnswer": { "@type": "Answer", "text": "Firms can listen to audio recordings to identify causes of errors or complaints, remediate customers and flag issues to reduce recurrence." } }, { "@type": "Question", "name": "Why does analysing multiple complaints matter?", "acceptedAnswer": { "@type": "Answer", "text": "It can reveal trends in complaints and errors, giving firms information to improve practices and strengthen processes." } } ] } ] } ``` ### Ensure call recording systems are adequate to avoid regulatory penalties - URL: https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/ - Published: 2017-01-16 - Modified: 2026-10-09 **Topic:** Call recording controls Call recording systems must do more than store audio. Firms need controls that evidence FCA principles, monitor trader conduct, retrieve records quickly and identify patterns of misconduct or market abuse. #### Key points - Monitoring trader activity is central to identifying misconduct and market abuse. - Call recording weaknesses and related controls were cited as core reasons for regulatory failings. - Firms must be able to evidence adherence to FCA principles as well as rules. - Recording systems should support retrieval, focused monitoring, trend detection and trader-level accountability. **Monitoring trader activities is a key regulatory obligation as it is central to the identification of trader misconduct or market abuse. The high-profile fining of an investment bank last week is the latest in a long line of regulatory action against firms for manipulating benchmark rates as a result of trader misconduct, highlighting the need to ensure a greater level of monitoring.** An adequate call recording system is a necessary tool for monitoring misconduct. Weaknesses within the call recording system, and the systems and controls around it, were cited as core reasons for failings within this notice. In this blog, Recordsure looks at the core failings that led to this fine and explores where call recording systems could be strengthened to help prevent the risk of misconduct and market abuse. #### Rules & principles Core rules for the recording of telephone conversations are set out in COBS 11.8 and there are also general record keeping rules set out in SYSC 9 that firms must comply with. However, in this notice the FCA fined the firm for breaches of principles rather than rules. Principles are less prescriptive than rules and are a general statement of the fundamental obligations for firms under the regulatory system. Within this notice, the firm was in breach of: Firms need to ensure that they are able to evidence they are adhering to the FCA’s principles. This is at the core of the FCA’s expectations. #### Reliable systems and controls Firms need to ensure they have reliable systems and controls in place to manage risks to the business, notably: - Firms are required to have specific systems and controls in place where significant risks to their customers or the market are identified. Firms should have adequate record keeping in place to ensure that it is known which individuals submit rates and trades, and the rationale for those actions. - Individuals should be adequately trained on the processes they are responsible for undertaking and firms should have a framework in place for ensuring individuals are assessed and signed off as competent. - Firms are required to identify any inherent conflicts of interest and where any conflicts are identified, in this case where the same group of traders are submitting rates and also trading derivatives directly impacted by those rates, manage those conflicts effectively. Effective monitoring of Traders conversations is one area that can assist within managing these conflicts adequately. Firms should regularly test their recording systems to ensure they are sufficient in four core areas: - Can recordings be accessed and retrieved within a reasonable timeframe? - Do systems allow monitoring of individual recordings for a specific area of focus e.g. a trading instruction or individual trader? - Do systems identify and flag up trends or patterns of behaviour or misconduct over a period of time? - Do systems record and identify which trader was responsible for an individual trade to assess the conduct of individual traders? If firms are not satisfied that the above questions can be met with a ‘yes’, the system in use may not be adequate. #### A solution to inadequate systems In this case, failure to implement appropriate systems and controls to identify the activities of individual traders meant that trader misconduct went unchecked and it took over two years to provide the FCA with the requested phone recordings. In addition, the firm accidentally destroyed a proportion of calls during the relevant period. The firm in this notice used inadequate systems for identifying and recovering recordings or Trader telephone calls and mapping trading books to Traders. It is not enough to record all telephone interactions, firms must also ensure that their systems and controls allow them to retrieve records accurately and in a timely manner, whether they are required for internal purposes or requested by the regulator. Use of a conversation recording system such as Recordsure assures firms that data and records can be simple to access, search and retrieve instantaneously. Regulatory action could have been avoided if the firm was able to identify instances of market abuse in the first place. Consequently, monitoring the content of traders’ conversations is crucial. Firms should have an audio recording system, like Recordsure, that enables accurate identification of conversations that are deemed to be a risk to the firm’s integrity and aggregates data so that trends and anomalies can be quickly and efficiently identified and dealt with. > Conversation Intelligence #### See how Conversation Intelligence can work for your firm From mortgage advice to wealth management — 100% interaction oversight, built for regulated environments. [Explore Conversation Intelligence](https://recordsure.com/conversation-intelligence/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://recordsure.com/#organization", "url": "https://recordsure.com/", "@context": "https://schema.org", "name": "Recordsure", "legalName": "Record Sure Limited", "description": "Recordsure is an AI-powered intelligence platform for regulated organisations that transforms customer conversations, documents and case evidence into trusted intelligence for customer outcomes, operational efficiency and assurance.", "areaServed": "GB", "identifier": { "@type": "PropertyValue", "propertyID": "Companies House", "value": "08279232" }, "address": { "@type": "PostalAddress", "streetAddress": "10 Lower Thames Street", "addressLocality": "London", "postalCode": "EC3R 6EN", "addressCountry": "GB" }, "parentOrganization": { "@type": "Organization", "@id": "https://tcc.group/#organization", "name": "TCC Group", "url": "https://tcc.group/" } }, { "@type": "WebSite", "@id": "https://recordsure.com/#website", "url": "https://recordsure.com/", "name": "Recordsure", "description": "", "publisher": { "@id": "https://recordsure.com/#organization" }, "potentialAction": { "@type": "SearchAction", "target": { "@type": "EntryPoint", "urlTemplate": "https://recordsure.com/?s={search_term_string}" }, "query-input": "required name=search_term_string" } }, { "@type": "BreadcrumbList", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://recordsure.com/" }, { "@type": "ListItem", "position": 2, "name": "Insights", "item": "https://recordsure.com/insights/" }, { "@type": "ListItem", "position": 3, "name": "Ensure call recording systems are adequate to avoid regulatory penalties", "item": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/" } ] }, { "@type": "WebPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage", "url": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/", "name": "Ensure call recording systems are adequate to avoid regulatory penalties", "isPartOf": { "@id": "https://recordsure.com/#website" }, "inLanguage": "en-GB", "datePublished": "2017-01-16T11:01:40+00:00", "dateModified": "2017-01-16T00:00:00+00:00", "breadcrumb": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#breadcrumb" }, "speakable": { "@type": "SpeakableSpecification", "cssSelector": [ ".tcc-speakable", ".entry-summary", ".wp-block-excerpt" ] }, "lastReviewed": "2017-01-16" }, { "@type": "AnalysisNewsArticle", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#article", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "author": { "@type": "Person", "name": "" }, "headline": "Ensure call recording systems are adequate to avoid regulatory penalties", "datePublished": "2017-01-16T11:01:40+00:00", "dateModified": "2026-10-09T04:50:09+01:00", "mainEntityOfPage": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "publisher": { "@id": "https://recordsure.com/#organization" }, "image": null, "description": "Trader call recording must support monitoring, retrieval and evidence of controls, or firms risk missing misconduct, market abuse and regulatory requests.", "inLanguage": "en-GB", "articleBody": "Call recording systems must do more than store audio. Firms need controls that evidence FCA principles, monitor trader conduct, retrieve records quickly and identify patterns of misconduct or market abuse.\n\nMonitoring trader activities is a key regulatory obligation as it is central to the identification of trader misconduct or market abuse. The high-profile fining of an investment bank last week is the latest in a long line of regulatory action against firms for manipulating benchmark rates as a result of trader misconduct, highlighting the need to ensure a greater level of monitoring.\n\nAn adequate call recording system is a necessary tool for monitoring misconduct. Weaknesses within the call recording system, and the systems and controls around it, were cited as core reasons for failings within this notice.\n\nIn this blog, Recordsure looks at the core failings that led to this fine and explores where call recording systems could be strengthened to help prevent the risk of misconduct and market abuse.\n\nRules & principles\n\nCore rules for the recording of telephone conversations are set out in COBS 11.8 and there are also general record keeping rules set out in SYSC 9 that firms must comply with. However, in this notice the FCA fined the firm for breaches of principles rather than rules. Principles are less prescriptive than rules and are a general statement of the fundamental obligations for firms under the regulatory system. Within this notice, the firm was in breach of:\n\nFirms need to ensure that they are able to evidence they are adhering to the FCA\u2019s principles. This is at the core of the FCA\u2019s expectations.\n\nReliable systems and controls\n\nFirms need to ensure they have reliable systems and controls in place to manage risks to the business, notably:\n\n\u2022 Firms are required to have specific systems and controls in place where significant risks to their customers or the market are identified. Firms should have adequate record keeping in place to ensure that it is known which individuals submit rates and trades, and the rationale for those actions.\n\u2022 Individuals should be adequately trained on the processes they are responsible for undertaking and firms should have a framework in place for ensuring individuals are assessed and signed off as competent.\n\u2022 Firms are required to identify any inherent conflicts of interest and where any conflicts are identified, in this case where the same group of traders are submitting rates and also trading derivatives directly impacted by those rates, manage those conflicts effectively. Effective monitoring of Traders conversations is one area that can assist within managing these conflicts adequately.\n\nFirms should regularly test their recording systems to ensure they are sufficient in four core areas:\n\n\u2022 Can recordings be accessed and retrieved within a reasonable timeframe?\n\u2022 Do systems allow monitoring of individual recordings for a specific area of focus e.g. a trading instruction or individual trader?\n\u2022 Do systems identify and flag up trends or patterns of behaviour or misconduct over a period of time?\n\u2022 Do systems record and identify which trader was responsible for an individual trade to assess the conduct of individual traders?\n\nIf firms are not satisfied that the above questions can be met with a \u2018yes\u2019, the system in use may not be adequate.\n\nA solution to inadequate systems\n\nIn this case, failure to implement appropriate systems and controls to identify the activities of individual traders meant that trader misconduct went unchecked and it took over two years to provide the FCA with the requested phone recordings. In addition, the firm accidentally destroyed a proportion of calls during the relevant period.\n\nThe firm in this notice used inadequate systems for identifying and recovering recordings or Trader telephone calls and mapping trading books to Traders. It is not enough to record all telephone interactions, firms must also ensure that their systems and controls allow them to retrieve records accurately and in a timely manner, whether they are required for internal purposes or requested by the regulator.\n\nUse of a conversation recording system such as Recordsure assures firms that data and records can be simple to access, search and retrieve instantaneously.\n\nRegulatory action could have been avoided if the firm was able to identify instances of market abuse in the first place. Consequently, monitoring the content of traders\u2019 conversations is crucial. Firms should have an audio recording system, like Recordsure, that enables accurate identification of conversations that are deemed to be a risk to the firm\u2019s integrity and aggregates data so that trends and anomalies can be quickly and efficiently identified and dealt with.", "wordCount": 758, "keywords": [ "Banking" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Call recording controls" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "inLanguage": "en-GB", "text": "Monitoring trader activities is a key regulatory obligation as it is central to the identification of trader misconduct or market abuse. The high-profile fining of an investment bank last week is the latest in a long line of regulatory action against firms for manipulating benchmark rates as a result of trader misconduct, highlighting the need to ensure a greater level of monitoring.\n\nAn adequate call recording system is a necessary tool for monitoring misconduct. Weaknesses within the call recording system, and the systems and controls around it, were cited as core reasons for failings within this notice.\n\nIn this blog, Recordsure looks at the core failings that led to this fine and explores where call recording systems could be strengthened to help prevent the risk of misconduct and market abuse." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "inLanguage": "en-GB", "headline": "Rules & principles", "text": "Core rules for the recording of telephone conversations are set out in COBS 11.8 and there are also general record keeping rules set out in SYSC 9 that firms must comply with. However, in this notice the FCA fined the firm for breaches of principles rather than rules. Principles are less prescriptive than rules and are a general statement of the fundamental obligations for firms under the regulatory system. Within this notice, the firm was in breach of:\n\nFirms need to ensure that they are able to evidence they are adhering to the FCA\u2019s principles. This is at the core of the FCA\u2019s expectations." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "inLanguage": "en-GB", "headline": "Reliable systems and controls", "text": "Firms need to ensure they have reliable systems and controls in place to manage risks to the business, notably:\n\n\u2022 Firms are required to have specific systems and controls in place where significant risks to their customers or the market are identified. Firms should have adequate record keeping in place to ensure that it is known which individuals submit rates and trades, and the rationale for those actions.\n\u2022 Individuals should be adequately trained on the processes they are responsible for undertaking and firms should have a framework in place for ensuring individuals are assessed and signed off as competent.\n\u2022 Firms are required to identify any inherent conflicts of interest and where any conflicts are identified, in this case where the same group of traders are submitting rates and also trading derivatives directly impacted by those rates, manage those conflicts effectively. Effective monitoring of Traders conversations is one area that can assist within managing these conflicts adequately.\n\nFirms should regularly test their recording systems to ensure they are sufficient in four core areas:\n\n\u2022 Can recordings be accessed and retrieved within a reasonable timeframe?\n\u2022 Do systems allow monitoring of individual recordings for a specific area of focus e.g. a trading instruction or individual trader?\n\u2022 Do systems identify and flag up trends or patterns of behaviour or misconduct over a period of time?\n\u2022 Do systems record and identify which trader was responsible for an individual trade to assess the conduct of individual traders?\n\nIf firms are not satisfied that the above questions can be met with a \u2018yes\u2019, the system in use may not be adequate." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "inLanguage": "en-GB", "headline": "A solution to inadequate systems", "text": "In this case, failure to implement appropriate systems and controls to identify the activities of individual traders meant that trader misconduct went unchecked and it took over two years to provide the FCA with the requested phone recordings. In addition, the firm accidentally destroyed a proportion of calls during the relevant period.\n\nThe firm in this notice used inadequate systems for identifying and recovering recordings or Trader telephone calls and mapping trading books to Traders. It is not enough to record all telephone interactions, firms must also ensure that their systems and controls allow them to retrieve records accurately and in a timely manner, whether they are required for internal purposes or requested by the regulator.\n\nUse of a conversation recording system such as Recordsure assures firms that data and records can be simple to access, search and retrieve instantaneously.\n\nRegulatory action could have been avoided if the firm was able to identify instances of market abuse in the first place. Consequently, monitoring the content of traders\u2019 conversations is crucial. Firms should have an audio recording system, like Recordsure, that enables accurate identification of conversations that are deemed to be a risk to the firm\u2019s integrity and aggregates data so that trends and anomalies can be quickly and efficiently identified and dealt with." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/ensure-call-recording-systems-are-adequate-to-avoid-regulatory-penalties/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "Why are call recording systems important for trader monitoring?", "acceptedAnswer": { "@type": "Answer", "text": "They help firms monitor misconduct and market abuse, retrieve evidence and identify patterns or anomalies in trader conversations." } }, { "@type": "Question", "name": "Which regulatory rules are mentioned?", "acceptedAnswer": { "@type": "Answer", "text": "It mentions COBS 11.8 for telephone conversation recording and SYSC 9 for general record-keeping." } }, { "@type": "Question", "name": "What should firms test in recording systems?", "acceptedAnswer": { "@type": "Answer", "text": "They should test retrieval, focused monitoring, trend identification and whether records identify which trader was responsible for a trade." } } ] } ] } ``` ### Can technology save financial services from a life sentence of poor culture? - URL: https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/ - Published: 2017-01-12 - Modified: 2026-10-09 **Topic:** RegTech adoption Banks have not always taken advantage of FinTech and RegTech, despite pressure to reduce costs and improve governance. Inertia, limited technology experience at board level and early adopter advantage are central issues. #### Key points - Research suggests investment in FinTech and RegTech has lagged despite cost-reduction potential. - Large financial institutions can be powerful but hard to redirect because of legacy systems and behaviours. - A lack of board-level technology experience may slow strategic investment and resource allocation. - Firms that invest early may avoid inefficiency and protect relevance to customers. Banks are not taking full advantage of technology offered by RegTech start-ups. Joanne Smith notes that, as founder and CEO of Recordsure, her view may sound biased, but argues that she is not alone. Research from Boston Consulting Group identified that despite the potential to reduce costs, there had been little investment in FinTech and RegTech. Bain & Co. states that governance, risk and compliance can account for 15-20% of the costs of running a bank. With FinTech acting as a driver of efficiency and cost reduction, it is surprising that firms are not using more of the benefits. To devise a solution, it is necessary to look first at the possible causes. #### Steering the ship A friend once compared the large financial institution they worked for to a big ocean liner: powerful, dominant and capable, but hard to change direction. This challenge appears regularly in larger clients. Change can be complicated and arduous where legacy systems and behaviours persist, whether a firm is trying to change culture or introduce new technology. Even small changes, technological or otherwise, can create strain. Firms weigh whether the initial cost of time, resources and money is worth the ongoing cost-reduction benefits, with inertia often winning. #### Experience is key Another reason banks may be reluctant to invest in FinTech and RegTech is a lack of technology experience at board level. A report from Accenture claimed that only 3% of CEOs and 6% of board members have technology backgrounds at the world’s largest banks. In *Bridging the Technology Gap in Financial Services Boardrooms*, Richard Lumb states that many boards lack adequate knowledge and expertise about strategic investment and how best to allocate technology resources. Investment in FinTech is important. According to Celent, in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could allow money to be spent on alternative resources, improving overall efficiency. #### Early adopter competitive advantage Firms that do not invest in FinTech and RegTech risk becoming less relevant to customers, providing a lower level of service and becoming more inefficient. Because relatively few companies are investing in FinTech, those that do invest may gain a bigger advantage over those that do not. > Recordsure #### See how firms use Recordsure to evidence oversight at scale From interaction monitoring to outcome assurance — built for regulated environments. 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Inertia, limited technology experience at board level and early adopter advantage are central issues.\n\nBanks are not taking full advantage of technology offered by RegTech start-ups. Joanne Smith notes that, as founder and CEO of Recordsure, her view may sound biased, but argues that she is not alone.\n\nResearch from Boston Consulting Group identified that despite the potential to reduce costs, there had been little investment in FinTech and RegTech. Bain & Co. states that governance, risk and compliance can account for 15-20% of the costs of running a bank.\n\nWith FinTech acting as a driver of efficiency and cost reduction, it is surprising that firms are not using more of the benefits. To devise a solution, it is necessary to look first at the possible causes.\n\nSteering the ship\n\nA friend once compared the large financial institution they worked for to a big ocean liner: powerful, dominant and capable, but hard to change direction.\n\nThis challenge appears regularly in larger clients. Change can be complicated and arduous where legacy systems and behaviours persist, whether a firm is trying to change culture or introduce new technology.\n\nEven small changes, technological or otherwise, can create strain. Firms weigh whether the initial cost of time, resources and money is worth the ongoing cost-reduction benefits, with inertia often winning.\n\nExperience is key\n\nAnother reason banks may be reluctant to invest in FinTech and RegTech is a lack of technology experience at board level. A report from Accenture claimed that only 3% of CEOs and 6% of board members have technology backgrounds at the world\u2019s largest banks.\n\nIn Bridging the Technology Gap in Financial Services Boardrooms, Richard Lumb states that many boards lack adequate knowledge and expertise about strategic investment and how best to allocate technology resources.\n\nInvestment in FinTech is important. According to Celent, in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could allow money to be spent on alternative resources, improving overall efficiency.\n\nEarly adopter competitive advantage\n\nFirms that do not invest in FinTech and RegTech risk becoming less relevant to customers, providing a lower level of service and becoming more inefficient.\n\nBecause relatively few companies are investing in FinTech, those that do invest may gain a bigger advantage over those that do not.", "wordCount": 401, "keywords": [ "Banking", "Payments and FinTech" ], "about": [ { "@type": "Thing", "name": "Banking", "url": "https://recordsure.com/sector/banking/" }, { "@type": "Thing", "name": "Payments and FinTech", "url": "https://recordsure.com/sector/payments-fintech/" }, { "@type": "Thing", "name": "RegTech adoption" } ], "audience": [ { "@type": "Audience", "audienceType": "Banking" }, { "@type": "Audience", "audienceType": "Payments and FinTech" } ], "hasPart": [ { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-1" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-2" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-3" }, { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-4" } ] }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-1", "position": 1, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#webpage" }, "inLanguage": "en-GB", "text": "Banks are not taking full advantage of technology offered by RegTech start-ups. Joanne Smith notes that, as founder and CEO of Recordsure, her view may sound biased, but argues that she is not alone.\n\nResearch from Boston Consulting Group identified that despite the potential to reduce costs, there had been little investment in FinTech and RegTech. Bain & Co. states that governance, risk and compliance can account for 15-20% of the costs of running a bank.\n\nWith FinTech acting as a driver of efficiency and cost reduction, it is surprising that firms are not using more of the benefits. To devise a solution, it is necessary to look first at the possible causes." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-2", "position": 2, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#webpage" }, "inLanguage": "en-GB", "headline": "Steering the ship", "text": "A friend once compared the large financial institution they worked for to a big ocean liner: powerful, dominant and capable, but hard to change direction.\n\nThis challenge appears regularly in larger clients. Change can be complicated and arduous where legacy systems and behaviours persist, whether a firm is trying to change culture or introduce new technology.\n\nEven small changes, technological or otherwise, can create strain. Firms weigh whether the initial cost of time, resources and money is worth the ongoing cost-reduction benefits, with inertia often winning." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-3", "position": 3, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#webpage" }, "inLanguage": "en-GB", "headline": "Experience is key", "text": "Another reason banks may be reluctant to invest in FinTech and RegTech is a lack of technology experience at board level. A report from Accenture claimed that only 3% of CEOs and 6% of board members have technology backgrounds at the world\u2019s largest banks.\n\nIn Bridging the Technology Gap in Financial Services Boardrooms, Richard Lumb states that many boards lack adequate knowledge and expertise about strategic investment and how best to allocate technology resources.\n\nInvestment in FinTech is important. According to Celent, in 2014 75% of all bank IT spend was on propping up old IT systems. Investing in FinTech systems could allow money to be spent on alternative resources, improving overall efficiency." }, { "@type": "WebPageElement", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#analysis-4", "position": 4, "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#webpage" }, "inLanguage": "en-GB", "headline": "Early adopter competitive advantage", "text": "Firms that do not invest in FinTech and RegTech risk becoming less relevant to customers, providing a lower level of service and becoming more inefficient.\n\nBecause relatively few companies are investing in FinTech, those that do invest may gain a bigger advantage over those that do not." }, { "@type": "FAQPage", "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#faqpage", "isPartOf": { "@id": "https://recordsure.com/insights/analysis-and-perspective/can-technology-save-financial-services-from-a-life-sentence-of-poor-culture/#webpage" }, "inLanguage": "en-GB", "mainEntity": [ { "@type": "Question", "name": "What costs does Bain & Co. associate with governance, risk and compliance?", "acceptedAnswer": { "@type": "Answer", "text": "Bain & Co. states that governance, risk and compliance can account for 15-20% of the costs of running a bank." } }, { "@type": "Question", "name": "Why can large banks be hard to change?", "acceptedAnswer": { "@type": "Answer", "text": "Large banks can be like ocean liners: capable and powerful, but difficult to redirect because of legacy systems, behaviours and the strain created by change." } }, { "@type": "Question", "name": "What board-level issue slows technology investment?", "acceptedAnswer": { "@type": "Answer", "text": "Limited technology experience. An Accenture report claimed that only 3% of CEOs and 6% of board members at the world\u2019s largest banks had technology backgrounds." } }, { "@type": "Question", "name": "Why might early adopters gain an advantage?", "acceptedAnswer": { "@type": "Answer", "text": "Firms that invest in FinTech and RegTech may avoid inefficiency, remain more relevant to customers and provide a better level of service than firms that do not." } } ] } ] } ``` ## People ### Joanne Smith - URL: https://recordsure.com/meet-the-team/#joanne-smith - Role: Founder & Executive Chair Founder of Recordsure and TCC Group, Joanne has spent more than three decades helping organisations strengthen customer outcomes, improve governance and navigate regulatory change. As Executive Chair, she continues to shape the strategic direction and long-term vision of Recordsure and the wider Group. Under her leadership, Recordsure helps regulated organisations turn customer conversations, documents and supporting evidence into trusted, usable intelligence. Her work has been recognised with industry awards, including GRC Innovator of the Year at the Women in Governance, Risk and Compliance Awards and a place on the Innovate Finance Women in FinTech Powerlist. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#joanne-smith", "name": "Joanne Smith", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/joanne-smith-7414947/", "https://www.grcworldforums.com/joanne-smith/5511.article", "https://axentia.co.uk/teammembers/joanne-smith/", "https://thefintechtimes.com/ai-queen-joanne-smith-ceo-recordsure/" ], "jobTitle": "Founder & Executive Chair", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/e62c8472f9b14d0a953daad062b89719/thumbnail-320" } ] } ``` ### Joe Norburn - URL: https://recordsure.com/meet-the-team/#joe-norburn - Role: CEO Joe leads Recordsure and TCC Group, bringing extensive leadership experience across financial services, banking and technology-enabled businesses. He is responsible for the Group's strategic direction and continued growth, and is passionate about helping organisations respond to changing customer, regulatory and operational expectations. As CEO, Joe leads Recordsure's work with regulated organisations across financial services, utilities and government, helping them strengthen oversight, evidence their decisions and improve customer outcomes. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#joe-norburn", "name": "Joe Norburn", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/joenorburn/" ], "jobTitle": "CEO", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/50a4d62d858741fabd3c827d71a9cd88/thumbnail-320" } ] } ``` ### Garry Evans - URL: https://recordsure.com/meet-the-team/#garry-evans - Role: Chief Product and Commercial Officer Garry oversees product innovation, commercial strategy and growth, ensuring Recordsure delivers practical solutions to real-world compliance, assurance and operational challenges. With a strong background in fintech and technology-led businesses, he focuses on developing solutions that help clients solve complex regulatory and operational challenges. Garry connects Recordsure's Conversation Intelligence and Document Intelligence to the oversight, quality assurance and customer outcome priorities of the regulated firms it serves. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#garry-evans", "name": "Garry Evans", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/garryevans2020/" ], "jobTitle": "Chief Product and Commercial Officer", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/954bd0c8691c46d2af225f565f6bb080/thumbnail-320" } ] } ``` ### Chris Matthews - URL: https://recordsure.com/meet-the-team/#chris-matthews - Role: Chief Information Officer (CIO) / Chief Information Security Officer (CISO) Chris leads information security, infrastructure and technology operations, helping ensure Recordsure meets the highest standards of security, resilience and data governance. His experience spans large-scale data, infrastructure and technology programmes in highly regulated environments. As Chief Information Security Officer, Chris is responsible for the information security practices behind Recordsure's ISO 27001-certified approach to protecting the conversations, documents and supporting evidence that clients entrust to it. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#chris-matthews", "name": "Chris Matthews", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/cmatthewscio/" ], "jobTitle": "Chief Information Officer (CIO) / Chief Information Security Officer (CISO)", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/1c2e51bd88444b4ba09f5ff52f5dddef/thumbnail-320" } ] } ``` ### Kit Ruparel - URL: https://recordsure.com/meet-the-team/#kit-ruparel - Role: Chief Technology Officer (CTO) Kit leads Recordsure's technology strategy and engineering capability, driving the development of AI-powered products that help organisations improve oversight, evidence decisions and customer outcomes. He is responsible for ensuring the Group's platforms remain secure, scalable and aligned to the evolving needs of clients. Kit also contributes to Recordsure's insight programme, providing expert commentary on artificial intelligence, engineering, data, product development and the future of evidence-led technology. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#kit-ruparel", "name": "Kit Ruparel", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/kitruparel/" ], "jobTitle": "Chief Technology Officer (CTO)", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/4a4d1f9c058441dc8f9ccea5d2ad0bf5/thumbnail-320" } ] } ``` ### Victoria Mansbridge - URL: https://recordsure.com/meet-the-team/#victoria-mansbridge - Role: Head of Sales Operations Victoria leads sales operations and commercial support, helping ensure clients receive a seamless experience from initial engagement through to implementation and long-term partnership. Working alongside Recordsure's commercial and client success teams, Victoria helps regulated businesses understand where Recordsure can create the greatest operational, compliance, quality assurance and customer outcome impact. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#victoria-mansbridge", "name": "Victoria Mansbridge", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/victoria-mansbridge-b5932716/" ], "jobTitle": "Head of Sales Operations", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/642973d599f749ee9501b215e81dcc95/thumbnail-320" } ] } ``` ### Richard Lee - URL: https://recordsure.com/meet-the-team/#richard-lee - Role: Client Account Director Richard works closely with regulated businesses to understand their oversight, governance and assurance priorities, helping them maximise value from Recordsure. He helps clients identify how technology-enabled solutions can support their compliance, governance and customer outcome objectives. Richard helps clients apply Recordsure's Conversation Intelligence and Document Intelligence to the quality assurance, oversight and customer outcome challenges that matter most to their business. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#richard-lee", "name": "Richard Lee", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/richard-lee-saas-regtech/" ], "jobTitle": "Client Account Director", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/2fc48316ac4f4212b621028cc8465ceb/thumbnail-320" } ] } ``` ### Rebecca Swiffen - URL: https://recordsure.com/meet-the-team/#rebecca-swiffen - Role: Head of People Rebecca leads the people strategy across the Group, helping attract, develop and retain the talented individuals that support Recordsure's continued growth and innovation. She supports a positive and high-performing culture across Recordsure and the wider Group. Rebecca's work helps Recordsure build and support the AI engineers, software developers, product specialists, implementation experts, customer success professionals and compliance practitioners behind every implementation. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#rebecca-swiffen", "name": "Rebecca Swiffen", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/rebecca-swiffen/" ], "jobTitle": "Head of People", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/f25174cc5bf7404d89c0e884ab5388cc/thumbnail-320" } ] } ``` ### Hana Shackleton - URL: https://recordsure.com/meet-the-team/#hana-shackleton - Role: Group Marketing Director Hana leads marketing, brand and digital strategy across Recordsure and TCC Group, helping communicate complex regulatory, operational and technology challenges in a practical and accessible way. She is responsible for editorial direction, brand strategy and content development, including Recordsure's insight articles, guides and thought leadership. Hana leads the Group's thought leadership programmes across TCC, Recordsure and Momenta, bringing together technology specialists, compliance experts and marketing professionals to develop practical insight for regulated businesses. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#hana-shackleton", "name": "Hana Shackleton", "affiliation": [ "Recordsure" ], "sameAs": [ "https://www.linkedin.com/in/hana-shackleton-8472016/" ], "jobTitle": "Group Marketing Director", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/9ed359ac42b741efb2cc87dbbc96d085/thumbnail-320" } ] } ``` ### Diane Turner - URL: https://recordsure.com/meet-the-team/#diane-turner - Role: Senior Campaign and Design Marketing Manager Diane supports campaign strategy, content development, design and customer communications across Recordsure and the wider Group. She contributes to Recordsure's thought leadership and editorial programme. As part of the thought leadership and technical editorial team, Diane helps turn the expertise of Recordsure's technology specialists and compliance experts into clear campaigns, designs and resources for regulated businesses. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#diane-turner", "name": "Diane Turner", "affiliation": [ "Recordsure" ], "sameAs": [], "jobTitle": "Senior Campaign and Design Marketing Manager", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/1550df4c486e450db29eedf60b3b774c/thumbnail-320" } ] } ``` ### May York - URL: https://recordsure.com/meet-the-team/#may-york - Role: Marketing and Content Executive May supports research, content development, digital channels and the publication of insight-led resources for regulated businesses. She contributes to Recordsure's thought leadership and editorial programme. As part of the thought leadership and technical editorial team, May helps research, prepare and publish Recordsure's insight articles, guides and digital content. ```json { "@context": "https://schema.org", "@graph": [ { "@context": "https://schema.org", "@type": "Person", "@id": "https://recordsure.com/meet-the-team/#may-york", "name": "May York", "affiliation": [ "Recordsure" ], "sameAs": [], "jobTitle": "Marketing and Content Executive", "worksFor": "Recordsure", "image": "https://profiles.tcc.group/media/9cec98fcc80848a180b86d85e56984eb/thumbnail-320" } ] } ```