Tag Archives: digital
FCA Update on Digital Regulatory Reporting
The FCA has updated its webpage on digital regulatory reporting (DRR) by publishing – a video which explains the concept of DRR and outlines the work carried out by the DRR pilot group; a report which sets out an overview of the work and findings of phase I of its DRR pilot, which explored how firms and […]
FCA Feedback Statement on Digital Regulatory Reporting
The FCA has published a feedback statement on digital regulatory reporting. This follows the FCA’s call for input on smarter regulatory reporting in February 2018. The FCA found that most respondents agreed that there are significant potential benefits to be gained by introducing digital regulatory reporting, with the most commonly cited benefit being increased efficiency. However, […]
Consultation on use of digital technology in insurance
The International Association of Insurance Supervisors has published a draft issues paper on the increasing use of digital technology in insurance and its potential impact on consumer outcomes. The focus of the paper is on product design, underwriting and distribution. The paper notes the potential for advances in digitalisation to impact fair customer outcomes, including […]
WFE encouraged by Commission consultation on FinTech
The World Federation of Exchanges said it was encouraged by the Commission’s consultation on FinTech as it believed that it was important to get policy right in this area to avoid the rush to regulate. These comments came following the WFE’s response to the Commission’s consultation document “FinTech: a more competitive and innovative European financial sector”, which was published […]
LSB looks at digital developments
LSB has reviewed its Standards to assess whether any amendments are needed to take account of various digital developments. It considered the effects of digitalisation of the customer experience on the whole customer journey apart for credit card, loan and overdraft products. Key findings included: firms increasingly use third parties to supply the required technology, […]
LSB calls for data on digital
LSB is calling for evidence as part of its Standards Development project to look at firms’ digital capabilities. It asks: What are the main challenges faced when developing products and services for digital channels? When developing a digital customer journey how are specific customer groups accounted for, such as: vulnerable customers? Are there any processes […]