Value Added Compliance
Regulation should not hinder a firm’s ability to grow, but it should remove non-compliant or unfair practices. Most firms struggle due to the historical development of a rules-based approach and the lack of integration of compliance and risk functions within the business.
All regulation can be used in innovative ways to create competitive advantage. Whether applying principle or rule-based requirements firms need to be compliant, therefore those firms who can capitalise and deliver change to support their own business strategy will be more successful. Forward-thinking firms are becoming more agile with respect to regulation and embracing the opportunity that a principle-based approach offers in terms of realising more business benefits from their compliance investments.
Huntswood is leading the thinking and delivery of competitive advantage from regulation in financial services. For example:
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We have helped a number of leading UK firms exploit Treating Customers Fairly (TCF) to increase customer retention and advocacy
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Our Training and Competence (T&C) helps reduce call times, increases staff confidence and ultimately improves sales performance
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Our ARROW reviews develop a partnership relationship with the regulator to reduce costs and interference whilst realising the regulatory dividend.
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