Midway through our survey titled Surviving the FCA: Call Recording Survey, we are noticing that key aspects are potentially being omitted by financial institutions when it comes to their legacy strategies and plans. Is this the real picture? This is what you tell us so far:
- Although 54% of the respondents say they have a legacy infrastructure strategy in place, the majority have not incorporated key regulatory/compliance deadlines in their legacy roadmap.
- Data retrieval and data integrity seem to be the biggest concerns, however, there is a disconcerting number of ‘do not know’ responses on critical issues like storage and continuity plans on that data.
- With the majority agreeing that the biggest threats of non-compliance are financial and reputational, so far from our results it seems that key aspects of a comprehensive legacy strategy are still being omitted.
Please take 5 minutes and help get the real picture on how prepared Financial Institutions in the UK are to face the demands set by regulators.