There are many ways a robust end-to-end lease and loan management solution can ease the burden of FCA regulation requirements. Below, you'll find some of the more common instances. You can learn more about how ASPIRE can help meet your individual business needs by filling out the form at the bottom of the page or sending an email to Brent Walmsley, our UK Business Development leader.
Sometimes, we can’t help but get in our own way. Whether it be neglecting to get the proper signatures before processing a contract or simply misplacing a decimal point, human errors are common and can oftentimes be costly.
ASPIRE’s intuitive workflow system can eliminate this human element by allowing users to configure and automate an unlimited number of scenarios that must occur before a contract can be approved and processed. It’s this workflow that creates a consistent approach when processing transactions, as well as an audit trail of events—all of which lends itself well to complying with FCA rules and regulations.
Users can also be notified automatically when a specific task assigned to them needs to be completed. These user tasks can be triggered based on other tasks or transactions, or set at the account level, and can prevent any other actions on the account from taking place before it is completed.
When it comes to managing the varying amount of documents that could be associated with a single contract or account, the last things you need to worry about are their security and accessibility. ASPIRE lets you build an unlimited library of documents (including contracts, proposal letters, etc.) that can be generated and distributed without having to re-key any information. Document distribution methods include PDF, email, hard copy and traditional mail services, and documents can be tracked throughout the workflow to ensure nothing is held up.
And regardless of the stage your contract is in, any associated documents are stored in an easy to access online vault, giving you a compliant audit trail at your fingertips.
ASPIRE’s digital signature capabilities (made possible by our integration with eOriginal) provide you with more than just a signed document. A digital signature validates the authenticity and integrity of an electronic document. And rather than storing an original hard copy for safekeeping in what you hope is a fire and water-resistant cabinet, the original signed document is stored for eternity in an electronic vault that is secure, tamper-proof and easy for your users to access.
Compliance, Security and Risk Management
ASPIRE gives you the power to redefine your technology, making your processing solution an intricate information system that regulators can rely on. You can implement policies around storing confidential data, including how it is updated and disposed of, and even who has access to it. These fluid processes monitor critical data elements, track who and what changes are being made, and send notifications to key people throughout the process—all essential pieces when meeting the FCA’s compliance standards.
Through ASPIRE’s complete reporting and analysis tools, you also have easy access to over 120 standard reports (spanning all functional areas), as well as the control to run real-time queries of system data and scheduled or on-demand reports, to meet any business or regulatory reporting needs you may have.