We immediately saw that the review process was simply taking too long. We knew that the right blend of regulatory experts and smart technology was needed to maximise efficiency and enable our client to meet FCA deadlines.
We recommended a unique combination of robotics, Artificial Intelligence (AI) and bespoke case flow management to support the entire review process. We split this into two stages: data analysis and AI were performed off-site on our secure servers, while our expert team provided case flow management and manual second stage file reviews on the client’s site.
Our RegTech solution significantly reduced the administrative burden of the data gathering process. What’s more, by combining unique evidential bookmarking capability with some basic robotics, we also reduced the average time taken for a second stage manual file review from six hours down to just one hour. Overall, we saved over 25,000 project hours and delivered cost savings to our client of £3m.