Thursday, 22 September 2011
Sesame Goes Live With New Compliance System From Redland
www.redland-solutions.co.uk), was chosen after an extensive review of the market and provides Sesame with a transparent and efficient means of managing both current and future regulatory risks.
Insight is an innovative Training and Competence (T&C) system that provides a single integrated platform enabling critical business applications for financial services organisations to be developed and deployed, ensuring that business efficiencies and productivity improvements can be realised in a shorter timeframe. At Sesame, the specially customised version of the Insight system supports a range of business applications that enable advisers to boost productivity by gaining easier access to essential management information and operational data. In addition, by moving to a single compliance platform Sesame will be more responsive to the incoming demands of the Retail Distribution Review (RDR) regulatory structure due in 2013.
As well as improving the efficiency and transparency of reporting, the system enables users to see management information at a dashboard level and then ‘drill down’ into the underlying data to provide views that are appropriate and valuable at all levels within the organisation. It is also an auditable solution providing evidence to the firms in the network, Sesame management, and the regulator that the latest regulatory and compliance processes are in place.
Sesame Bankhall Group’s Chief Operating Officer George Higginson said; “This significant investment in our compliance infrastructure will deliver tangible benefits to our members. Redland's Insight T&C solution enhances both our service levels to our Sesame Network members and the way in which our compliance team and members work together.
“With the regulatory climate more intrusive and demanding than ever before, this new solution gives our members a single view of their firm’s exposure to regulatory risks and their performance in managing them. It also delivers far greater flexibility in data access terms. Looking forwards, our move to a single compliance system ensures that we will be able to respond more quickly to the new regulatory demands being posed by the RDR.”
Joel Turland, Managing Director of Redland Business Solutions commented: “Redland is firmly committed to meeting the challenges of the RDR and the new regulatory regime. Companies need to be able to demonstrate their compliance to the new regulations with ease and Insight T&C can help achieve this. In addition, the system will allow advisers to prioritise their work and to focus on developing the most important asset in their business, their people.
“Sesame’s decision to choose Redland to deliver this platform is a significant endorsement, not only of the need for fully integrated T&C solutions, but of our position as market leader.”