The Financial Services Compensation Scheme (FSCS), is a non-profit statutory body, independent of the financial services industry and regulators. Its primary role is to protect customers of authorised financial services firms by compensating them when firms fail

The Authority’s remit encompasses deposits, insurance, investments and mortgage broking, debt management business and – more recently – funeral plans administered by regulated firms.

UK Non-Profit Statutory Body was using a hybrid system to manage their risk and resilience. Some part of the functionality was managed in Excel and others in an in-house developed technology system.
This approach led to several challenges, including the non-availability of consolidated reports, the Excel approach being too time-consuming, the Lack of clarity on the RACI responsibility matrix and some
other challenges.

Download our case study to discover how Gieom helped the UK Non-Profit Statutory Body overcome these challenges and enhance its operational risk and resilience.