Towards the end of last year, the Financial Conduct Authority (FCA) set out to provide guidance and clarify the requirements for firms when outsourcing to the cloud and other third-party IT services such as Encompass.

In order to compete and insure the quality of the services they provide their clients, financial service firms increasingly look to take advantage of the benefits cloud IT services and storage can offer them.

As they are responsible for the handling of highly sensitive data, compliance with FCA regulation is paramount. The new regulations have been amended to take in to consideration the unique circumstances the use of cloud and third party IT services presents.

The finalised guidance, published this month and available to view below, is relevant to firms looking to outsource their storage and IT, but also to providers, trade associations, consumer groups, law firms and other advisers, and auditors of financial services firms.

(null)

(null)

about encompass

Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.

want to turn regulatory compliance
in to a competitive advantage?

Contact us today to arrange your personalised consultation of encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.

By continuing to use the site, you agree to the use of cookies. more information

our website and use of cookies

Your personal information will not be collected if you are only browsing one of our websites but we do use cookies to better tailor our information and our services to meet your needs.

A cookie is a small piece of text that is placed within the memory of a computer and can be later retrieved by web page servers. Cookies are used to enhance your interaction and convenience in using our website and we do not use cookies to record any of your personal information. Cookies may record information about your visit, including the type of browser and operating system you use, the previous site you visited, your server's IP address, the pages you access and the information downloaded by you.

While this anonymous statistical data may be aggregated and used in broader statistical analysis by us and our web monitoring service provider to improve our services, we cannot personally identify you as the source of that data until such point as you provide your personal information to us.

close