ROStrategy.com

DEMSA Summary: Financial Crime / Council Tax collection / Debt advice / Cyber / AI / Collaborations / Events / Training

Summary – Read the full update here (including all the links & more) In this week’s update there’s a significant focus on the evolving landscape of financial services, particularly in the realm of consumer debt and regulation. The update touches upon a variety of topics ranging from general sector activities to specific issues like financial crime training, council tax collection, and the impact of economic challenges on households. Notably, it includes insights from various organizations and events, underscoring the importance… Read more

[INSIGHTS]: Joined Up: Supporting Debt Advice Clients Through Strong Referral Partnerships

ABOUT: Highlighting New Insights on Debt Advice Referrals LINK: https://www.bristol.ac.uk/media-library/sites/geography/pfrc/documents/Joined%20up_web.pdf Summary The University of Bristol's Personal Finance Research Centre (PFRC) published a report in November 2023 focusing on debt advice referrals. This briefing introduces new findings regarding the functioning and improvement of debt advice referrals within a complex ecosystem. The report reveals that 59% of StepChange Debt Charity’s clients have been involved in either inward or outward referrals, often engaging with multiple organizations, indicating a fragmented and complicated referral process.… Read more

[INSIGHTS]: Quantum Computing: Moving Quickly From Theory to Reality

ABOUT: Quantum Computing Poised to Revolutionize Industries and Societal Functions. LINK: https://www.citigroup.com/global/insights/citigps/quantum-computing Summary This report explores the burgeoning quantum computing (QC) industry, projecting it as the defining technology of the 2020s. It emphasizes the transformative potential of QCs, which are expected to outperform classical computers in various applications. The report covers the state of the QC industry, potential applications, risks, and strategies for preparation by nation-states, corporates, and market participants. Key Points and Ideas Quantum computers operate on quantum mechanics… Read more

[INSIGHTS]: Navigating Regulatory Shifts – whitepaper

ABOUT: A comprehensive exploration of adapting to the FCA's BiFD Project and Consumer Duty in the financial sector. LINK: Navigating Regulatory Shifts - whitepaper Summary The whitepaper "Navigating Regulatory Shifts" delves into the challenges and strategies for financial institutions adapting to the Financial Conduct Authority's (FCA) BiFD Project and Consumer Duty. It highlights the evolving regulatory environment, emphasizing the need for tailored support and compliance strategies in the financial sector, and discusses the role of data-driven approaches and technology in… Read more

[INSIGHTS]: GamCare Core Messages and Self-Help Toolkit

ABOUT: A comprehensive guide for individuals seeking help with gambling issues. LINK: GamCare Core Messages and Self-Help Toolkit Summary The GamCare Core Messages and Self-Help Toolkit is an essential resource for individuals grappling with gambling problems. It offers a blend of practical advice, support strategies, and insights into the nature of gambling addiction. The toolkit is designed to empower individuals, providing them with the knowledge and tools necessary to navigate the challenges of gambling addiction and seek appropriate help. Key… Read more

[INSIGHTS]: CP23/21 Consumer Credit (Regulatory Reporting) Instrument 2023

ABOUT: New Regulatory Reporting Requirements for Consumer Credit Introduced in 2023 LINK: https://www.fca.org.uk/publication/consultation/cp23-21.pdf Summary The Consumer Credit (Regulatory Reporting) Instrument 2023 introduces comprehensive amendments to the Financial Conduct Authority's (FCA) Supervision manual. It mandates firms engaged in consumer credit lending to report detailed product sales, performance, and backbook data. These changes, effective from January 1, 2025, aim to enhance transparency and regulatory oversight in the consumer credit sector. Key Points and Ideas The instrument is enacted under the Financial Services… Read more