Its One Specialist IT Index has revealed that while brokers recognise that technology can help them with compliance, only 49% cited audit trails and record-keeping as a benefit of technology when conducting compliant business.However, more than two-thirds believed the speed of technology assisted them in the regulated world. Furthermore, six in 10 brokers believed that technology allowed them access to more information, which helped them to conduct compliant business. The findings come after the Financial Services Authority cited incomplete record-keeping as an area of concern. It suggests that while brokers recognise the potential of technology, not all have fully utilised the benefits that it can offer in assisting them to meet the FSA requirements. Martin Reynolds, head of sales at BM Solutions, says: “In the two most recent reports into sub-prime and self-cert, the FSA found brokers needed to improve their record-keeping. Technology is the only sustainable way to achieve this. “Brokers should look to utilise the full benefits that technology has to offer in helping them to conduct business in a regulated world.”
- Top trends
Following the early retirement of two of Skiptons executive directors, the society has made several appointments. With the society and its 16 subsidiaries, the position of group corporate development director has been created to ensure the Group remains on target for future growth. Leading in this role will be David Cutter, currently the societys operations […]
Barclays has admitted that it needs to invest more into its mortgage products through The Woolwich brand next year. The bank recently decided to bring its entire mortgage processing inhouse and will also count service as a key priority for 2006. It hopes the decision to take control of its mortgage operations from product development […]
The Oakwood Group, the London based private equity firm focused on the specialist lending sector, has made eight appointments. The following people are expected to join Oakwood in 2006, once their contractual obligations towards their current employers are fulfilled: Chris Preston, head of operational credit at HBOS specialist lending; Colin Barrett, senior product manager at […]
Figures released by the Office of the Deputy Prime Minister show that house price inflation hit a nine-year low in October.
Steve Webb, Director of Policy and External Communications, Royal London New analysis by mutual insurer Royal London has found that over three million people working for larger employers are failing to take up around £2bn a year which their employers have offered to contribute to their workplace pension schemes. In many workplaces, workers pay a […]
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