Product Partnerships LImited (PPL) asked NewRedo to build new cloud-based FCA compliance software, to replace legacy functionality within their existing platform. The primary objective was to provide enhanced Financial Conduct Authority (FCA) compliance support for PPL's customers. The project involved the development of two systems, a financial promotions application and a complaints processing application, both equipped with efficient workflow capabilities that provided excellent customer service and smooth, efficient back office administration.
The two systems were:
1. A financial promotions application designed to streamline and expedite the approval process for FCA-compliant marketing promotions. The application needed a sophisticated workflow system that allowed PPL to efficiently manage the end-to-end process of reviewing and approving marketing materials.
2. Complaints Processing Application: aimed to provide an FCA-compliant customer complaints processing service for PPL's customers. The FCA compliance software needed to track complaints throughout their lifecycle, ensuring timely resolution and adherence to regulatory requirements.
Working with the NewRedo team has produced a fantastic result and their delivery approach made things very easy and low risk
Phillip GarlicTwo web based systems hosted on AWS to manage FCA compliance for large retailers. The solution 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. Delivery was iterative, agile and highly collaborative.
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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