SIFA

SIFA felt that there was no back office system available which tackles the procedural aspects of compliance satisfactorily.

The requirement, in SIFA's view, was for a system which kills two birds with one stone, by producing reports which serve to inform the client and at the same time demonstrate for the benefit of the FSA and PI Insurers that all relevant compliance issues have been tackled.

Having both used and reviewed other back office systems on the market, SIFA concluded;  "Within this particular back office system, compliance is integrated into the advice process which ensures consistency of approach.  The web delivery meanwhile, permits remote online compliance checking, resulting in substantial potential cost savings."

 Download the SIFA case study.