Working From Home – the need for enhanced compliance
In the current climate, it is not surprising that contact centre staff are being sent home. Traditionally working in close proximity to each other to generate positive sales or service environments, companies have had to adapt to the changes in working patterns enforced on them by COVID 19, by shutting contact centres down for now. […]
Regulatory challenges of working from home
Business managers globally are facing the dilemma of trying to decide if their business is ‘essential’ or not and whether they should stay open or not. At the same time firms, whichever country they are based in, have to consider how they protect their staff and customers and, if it is even possible to deliver […]
P2P funders seek access to independent reviews
Over the last 12 months the loan based P2P industry has seen substantial change – partly driven by the many high-profile platform failures, coupled with the resulting contagion in the industry, and also partly due to increased regulatory scrutiny. The latter was described as a watershed moment for the industry and it is fair to […]
Rockstead – Staffing Services in 2020
We are very wary of random statistics predicting annual market outturns, especially at the start of a year, but the early 2020 signs indicate that pent-up demand might finally be released. So why are we feeling positive at this time? Firstly, in respect of lending, UK Finance has reported that December 2019 lending saw an […]
The cost of compliance failure
The FCA website shows the level of fines imposed during 2019 currently stands at a shocking £392 million. That number is significantly up from £60m in 2018 and £229m in 2017. The total cost of failure is, of course, substantially higher than just the fine! It needs to include the investigation costs, administration costs of […]
NPL trades are not dead
Some commentators have suggested that 2020 will be a quiet year for portfolio trades, on the basis that any holder of an asset who might have been minded to dispose of part or all of a portfolio would have done so by now, particularly if it is in the NPL category. We do not share […]
Mortgage lending – managing workflow and margins
2019 has been an interesting year for mortgage lenders and despite generally pessimistic predictions at the end of 2018, most lenders we work with seem satisfied with their net book growth. However, three factors have presented lenders with significant challenges this year; the management of flow rates, net interest margins and cost controls. Flow rates: […]
Payment holidays – the risks for lenders
With the announcement that the payment holiday scheme is being extended for a further 3 months, with 1.8 million borrowers already having taken that option, it is now clear that number will increase significantly. We estimate that up to 30% of borrowers will take at least a 3 month payment break, as some that did […]
64 million reasons to reduce call handling risk
A regular theme in conversations with our clients, both Rockstead and Yabber’s, is the true cost of non-compliance. We make no excuse for banging on about it – too often we learn that the first functions to be axed as part of a cost-cutting exercise are risk and compliance. Firms who focus on such programmes […]
Rockstead gains quality assurance recognition
In a recent press release we announced that we had become fully registered on the FSQS supplier qualification system, managed by Hellios. FSQS is a community of leading financial institutions including banks, building societies, insurance companies and investment services, who collaborate with the primary objective of improving standards in the supplier industry. We are delighted […]
