There’s an African proverb that says, ‘For tomorrow belongs to the people who prepare for it today’. Similar can be said about our 2018 success. Back in 2015, when the FCA and the PRA announced the final rules on the Senior Managers Regime; the Certification Regime; and Conduct Rules for Banks and Deposit Takers, we designed and built software technology specifically to help organisations comply with the new regulation. Since then, we’ve worked closely with our clients to further enhance our solutions to the point where we are recognised as the market leader for SMCR solutions.
There’s been huge demand for our solutions. Our client base now includes, 7 FTSE100 companies; 2 x Fortune 500 companies; 1 x Euro Stoxx 50 company; 1 x TOPIX 100 company; and 1 x SMI company. Resulting in over 100 legal entities now relying on our software to protect them, and their Senior Managers, against regulatory non-compliance, fines and reputational damage.
Expansion and Increased Capacity
To meet demand, we hand-picked key personnel into additional Client Implementation and Project Management roles. We’ve also needed more space, so opened our third office.
Three Industry Awards
Based largely on direct client feedback, our award winning software received a further three industry awards, including ‘Best RegTech Solution – SMCR’; ‘Best Compliance System’; and ‘Customer Service Excellence’.
Shared Learning and Best Practice
In September, we brought many of our clients together for our inaugural Redland Client Forum to share learning and to discuss best practice. The event proved a big hit and we plan to run further events in 2019 to help everyone get the best out of their solution and to develop new ideas for the future.
Fully mobilised and ready for Accountability II
The extension of the Senior Managers & Certification Regime (SM&CR) to all solo-regulated firms in 2019 will impact the entire sector including investment firms, wealth managers, financial advisers, brokers and consumer credit companies. As a result, we are expecting demand for solutions to further increase with the distinct possibility that overall market demand will outstrip overall supply bandwidth. We would strongly recommend organisations start their projects early in the new year (if they haven’t already!) such that new systems can be properly bedded in before the December 2019 deadline.
Thank you to all our clients for making 2018 such a successful year.
Redland, compliance solutions you can trust.
By Redland from Redland Business Solutions
© Copyright Redland Business Solutions 2019