While many financial service organisations look to consolidate back-end management systems, outsource parts of their IT infrastructure or engage BPO providers to manage their claims process, few have addressed the inadequate tools and manual practices being used for disclosure production each time there's a regulation change.
Considerable resources across multiple departments are required in the process, adding a substantial cost and productivity burden to the business.
This survey report explores these burdens in more detail and validates the emerging evidence that a streamlined disclosure process brings substantial value to the organisation delivering:
- reduced operational cost and risk of non-compliance
- increased workforce productivity and efficiency
- improved governance
- a great customer experience