Single Customer View
As banks, building societies and credit unions make the transition towards a Single Customer View (SCV), the FSA’s next phase of the SCV supervision programme is on the horizon.
Making sure you are adhering to the FSA’s Compliance Handbook is the first step towards an effective SCV plan. In addition to enabling wider regulatory compliance, such as with Living Wills and FATCA compliance, taking a SCV allows organisations to draw insights from their data to deliver commercial benefits.
Deloitte can help prepare, advise and support organisations on the regulations and opportunities of an effective SCV programme.
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What is Single Customer View and Faster Payout? The 'Single Customer View' regulation requires every customer to be uniquely identifiable, meaning each individual has their own separate code to which all their data is linked. This allows the regulators to aggregate positive balances across all their accounts at any given point in time, so that in the event a deposit taker fails, they can quickly gather the information required to receive a faster compensation payout from the FSCS. |
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Single Customer View- Getting the inside track on Faster Payout
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Andy Whitton Partner +44 20 7303 7215 awhitton@deloitte.co.uk |
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