The Awards, organised by the ifs School of Finance which are now in their 12th year, celebrate innovation, change and excellence in the financial services industry. Chosen from what is understood to be over 200 entries, the shortlist is now down to just five outstanding innovations in the category of ‘Technology Vendors - Most Innovative Financial Services Solution’.
The TCF Frameworker was developed to act as a central repository for clients data and provides excellent management information. The scalability of the product makes it relevant for organisations of any size and helps dramatically reduce preparation time for FSA visits as the data, if completed properly and regularly updated, provides all the required elements to prove compliance.
It also allows compliance professionals to remotely monitor TCF data and ensure compliance throughout the entire company for simple and up-to-date overall assessments.
Joanne Smith, chief executive & creative officer at The Consulting Consortium, said: “We are delighted to have been shortlisted for this prestigious award especially as it is amidst such esteemed company. By talking to clients and firms working within financial services we swiftly recognised that organisations were finding it very difficult to demonstrate their compliance to the FSA’s TCF initiative. Following extensive research and experience in helping clients through their TCF projects, we were able developed a thorough understanding of the problems and the real challenges faced by firms. As a result of this TCC built a robust and cost effective solution in the TCF Frameworker tool that enables firms to demonstrate TCF compliance. It is critical that the solution remains simple and easy to use so it has been developed as a web based solution therefore making it easily accessible. This online element has enabled us to keep costs down for firms, especially for those organisations with a wide geographical spread.”
