+44 (0) 207 422 5980

Retail banking banner

Retail Banking

Over the last decade, the UK’s Retail Banking sector has faced a number of disruptive threats. As the sector continues its rapid evolution, the increased pace of innovation is driving change in customer behavior, expectations and demand for banking services. Coupled with an ever-evolving regulatory landscape, the pressure on compliance functions to evidence their value as both a strategic adviser to the business as well as an effective control function is increasing.

Advances in technology, social and news media means today’s consumer is more informed than ever contributing to an ever increasing claims culture which is placing financial institutions in a reactive and often costly position, straining resources and compromising reputation.

For compliance functions, change is no longer optional and in addition to ensuring that firms adopt the right controls, the regulator is also focused on ensuring that financial institutions demonstrate compliance in their business outcomes and an improved customer centric standard as opposed to just complying with the letter of the law.

Regulation technology is playing a key role in compliance transformation, helping to reduce cost by having a stabling effect on headcount and freeing up talent for more complex compliance issues. However, this is creating a significant challenge in relation to the skills actually required versus the skills currently available in order for compliance to use the tools effectively and maximise the return on investment.

Adoption of forward looking, proactive and pre-emptive strategies in identifying and dealing with risks will benefit institutions, helping them meet strategic, operational and commercial objectives. Our experience within financial services informs us that there is no “one size fits all” solution to the challenges that the sector faces.

Whether you are looking to add to your existing in-house capabilities, seeking an end-to-end solution or wanting to lower your cost base via utilisation of our shared service centers, Rectifi’s tailored modular approach offers an extensive range of solutions designed to save you money, increase efficiency and meet the ever-changing demands of regulation.

Let's talk

We understand how important effective and efficient remediation and complaints management is for a business. For all enquiries, or if you need urgent assistance, please contact us.

Contact us

Gotop
We use cookies to provide you with the best possible browsing experience on our website. You can find out more below.
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
+Necessary
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
ResolutionUsed to ensure the correct version of the site is displayed to your device.
essential
SessionUsed to track your user session on our website.
essential
+Statistics
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
AnalyticsWe employ Google Analytics as third party analytics services. This helps us analyse how users interact with our website and to identify patterns. Google Analytics IP address anonymization is also employed, which means we do not store any personal information. This stops individual user identification and re-marketing activities.
essential

More Details