Working with the NewRedo team has produced a fantastic result and their delivery approach made things very easy and low risk
Phillip Garlic
Delivering the FCA compliance software included ensuring compliance with FCA regulations, developing efficient workflow systems, integrating with legacy systems, and designing scalable and adaptable architectures. Adhering to the stringent regulatory guidelines set by the Financial Conduct Authority and maintaining compliance with the evolving legislation posed an ongoing challenge. Alongside this was the need to develop a sophisticated workflow within the FCA compliance software that could efficiently manage the end-to-end process of reviewing and approving marketing promotions and customer complaints. Ensuring seamless collaboration between various stakeholders, such as compliance officers, reviewers and approvers, presented both a technical and UX hurdle. Lastly the new cloud systems had to seamlessly integrate with existing legacy systems within Product Partnerships' platform.
A NewRedo team set to work, initially to engage stakeholders in a discovery phase, immediately followed by the iterative development of a robust financial promotions application with a sophisticated workflow modelled on the prevailing legislation, enabling streamlined management of marketing promotions approvals ensuring FCA compliance. The team also built an efficient complaints processing application with a workflow that tracked customer complaints throughout their lifecycle, ensuring timely resolution and adherence to regulatory requirements.
The FCA compliance software was built by leveraging the Amazon AWS cloud infrastructure, Node.js as the programming language, an agile project approach. Mature DevOps practices with CI/CD, automated testing, and user-centric UX design were employed to reduce risks. This comprehensive approach ensured a reliable and scalable foundation, fast and responsive performance, flexibility, adaptability and responsiveness to evolving requirements. The FCA compliance software met compliance needs, improved efficiency, and delivered an exceptional user experience, maximising usability and customer satisfaction.
The project's outcome delivered significant value to Product Partnerships. The new cloud systems enhanced FCA compliance, streamlining internal processes and improving efficiency. The systems provided adaptability and scalability, accommodating evolving compliance requirements and changing client needs. Additionally, the FCA compliance software improved the customer experience, ensuring timely complaint resolution and efficient marketing promotions approval. Overall, NewRedo's expertise successfully addressed business challenges, delivering robust solutions and showcasing technical prowess in retail compliance operations.
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