The product development challenge is as tough as ever
Every financial services firm wants to make commercially successful products that meet customer needs. But regulation designed to protect customers can stifle innovation because it's often difficult to interpret the regulator’s intent. When this happens, compliance teams can adopt a defensive stance that unnecessarily constrains commercial thinking.
Many of our clients describe tension between their commercial and compliance teams – a tension based on the belief that they are inevitably at odds. Talking to many, you wouldn’t think that commercial and compliant could be achieved in the same product.
But it needn't feel like a tug of war
There is a way to satisfy both regulatory requirements and commercial strategy.
We call it Evidence Based Compliance. It’s a collaborative, customer-centred design methodology that unlocks the elusive sweet spot for both compliance and commercial teams.
Putting the customer at the heart of the process aligns your company with the regulator’s mission. And it results in financial products and propositions that people need, value and buy.
We guided the RAC through a regulatory minefield, creating an evidence trail that demonstrated positive customer outcomes.
6 week turnaround.
Compliance, assured.
"Through an exemplary focus on regulatory compliance and customer outcomes, cxpartners helped us achieve improvements in commercial performance."Thomas Foster
Director of Acquisitions, RAC
An innovative focus on ethics, honesty and a transparent customer experience delivered dramatic results.
‘Loving your Customer’ award at the UK Financial Services Experience Awards.
Compliance is a process, not a point of view
The best way to identify the ‘sweet spot’ that truly benefits both customers and your business is through user-centred design. Evidence Based Compliance cuts through the conjecture and enables customer-centred innovation in tightly-regulated environments.
Work with us to:
Meet the EBC experts
We’re a dedicated, 25-strong Financial Services team with a breadth of sector knowledge and product strategy expertise across insurance, wealth and banking.
We've been developing Evidence Based Compliance over the last four years through our work with compliance and commercial teams across the sector.
Mark Hicks
FS Strategist
Stu Charlton
Experience Strategy Director
Sophie Grencis
Strategy Director
Contact us to discuss your challenge
ebc@cxpartners.co.uk
Sign up and receive a free copy of our EBC brochure
Inside the PDF, we explain how Evidence Based Compliance can align teams in your organisation and how it can deliver better results, fast. You'll discover:
- What's involved
- Why EBC beats traditional assurance
- How your organisation can benefit
We'll also send you occasional updates about EBC (no more than once per month).
