Compliance Solutions for Financial Services
Compliance is a key issue for financial services companies, as the sector faces a host of regulatory constraints such as FSA* regulations, the Data Protection Act, ISO 15489, Sarbanes Oxley, IFRS and Solvency II. Data Capture Solutions have helped some of the largest financial services companies in the UK significantly reduce the cost of compliance by cutting the administrative work required to achieve compliance.
*The FSA is splitting into two separate regulators. Our white paper: 'FSA Split - Do you need to tighten up your compliance measures?' describes their remit, their powers and what you can do to ensure smoothly demonstrable compliance. Download it from here.
DCS document management solutions are designed with security of data at their core and can be configured to control data access and security in order to meet compliance needs such as:
Security of confidential information
The FSA has fined many large financial organisations millions of pounds for improper conduct and disclosing confidential client information inappropriately. Document management solutions from DCS allow you to prevent unauthorised access to confidential information and demonstrate due diligence in managing sensitive information. All document transactions – updates, changes or views – are tracked, ruling out any chances of security breaches or data leakage.
Automatically tag records for retention, transfer, archive or destruction. You can easily apply consistent policies to records in a variety of media, from web content to archived e-mail messages to scanned images and spreadsheets without any manual data entry. This lowers the cost of retaining records in accordance with the British Standard for records retention and legal admissibility.
Governance and control
Enforce consistent, organisation-wide policies concerning the lifecycle of documents in business workflows. You can simplify the monitoring and supervision of policies in remote offices with one centralised solution, reducing the total cost of regulatory compliance.
Tracking and audit trail
Most compliance regulations demand that you use audit trail tracking that clearly records the date captured documents enter your system and any changes made to them thereafter. All of this information also needs to be readily available for auditors on demand. You can reduce the risk of non-compliance with DCS EDM solutions, which track and record all document activity from capture to disposal. Automatic audit trail logging helps ensure the integrity of electronic documents to the BS BIP 0008 standard.
Need to reduce the risk of non-compliance? Talk to one our business consultants on 01753 616 720 or email your enquiry to email@example.com