Safeguard client funds, meet FCA requirements
In November 2021, the FCA issued permanent guidelines on safeguarding and prudential risk, aiming to bolster firms’ arrangements to offset market disruption. This was done to better protect consumers and safeguard relevant funds in a similar manner to client money, ensuring protection should a firm become insolvent.
The AutoRek safeguarding solution helps payments institutions, e-money institutions and credit unions to meet these requirements, streamlining manual processes and ensuring complete accuracy and timeliness for segregation of funds and reports.