What are the
benefits of a digital
compliance framework?

The benefits of a digital framework could be considerable, particularly if not limited to a single regulation.

  • Resource accountability can be improved and perhaps more critically, historical reports generated at the touch of a button.
  • It could also help to lower the risk of penalties for breaches along with the associated operating costs.
  • Organisations that have already invested in a digital solution need to make sure that their vendor is licensed by the FCA and the PRA to use copyright Handbook material.
  • They should also avoid getting locked into a single-regulation option which would mean further investment for future compliance needs.
  • For anyone confident that their manual solution is cost effective and fit for purpose, there is always the next regulator review to look forward to.

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