Bringing accuracy, speed and confidence to your data tracing challenge
Firms must keep an accurate record of their customers as per regulatory requirements, but over the years this has been harder to do as people move address more frequently and lose touch of their records. It is a multi-sector problem that has been building up for over 30 years.
Regulators and industry bodies have guidelines and principles that organisations must follow – breaches have led to significant fines together with the reputational fallout following these failings. The Pensions Regulator announced a crackdown on poor record-keeping by schemes in 2019, issuing fines of up to £5,000 for an individual and up to £50,000 in any other case for failure to comply with notices of improvement or inadequate internal controls, therefore good governance and administration is now more important than ever. Organisations must demonstrate that they take reasonable care to organise and control their affairs responsibly and effectively, as well as paying due regard to the interests of customers and treating them fairly.
Firms are realising they don’t have robust enough processes to correct historical failings, redress beneficiaries and put in place future processes. A tracing solution is often required to achieve this and move firms back to a strong position.
Our end-to-end tracing suite offers core tracing, batch tracing, mortality screening, deceased tracing, international tracing, manual tracing, forensic tracing, verification and bespoke services. From identifying and redressing beneficiaries to putting processes in place to prevent future failings, it’s an ideal solution for banks, life companies, financial institutions and pension schemes, supporting with accurate record keeping to ensure scheme members receive up to date information about their pension and the benefits they’re entitled to. These services are also vital for the pensions dashboard; allowing savers to view all of the pensions that they have made contributions towards throughout their working life.
of all executors traced
of all estate tracing
deceased traces over the last three years
Our comprehensive tracing services include:
Mortality screening and deceased tracing
International, manual and forensic tracing
Unclaimed Asset Management/Register
Bespoke services - insolvency and company tracing
We help clients to address historical failings and to set up a more robust management of records going forwards, which helps to avoid a repeat of the problem on the same scale.
- We have contracts with all the major credit rating agencies and have access to more than 420 million records provided by UK financial institutions, as well as international records.
- We have been supporting clients to connect with their customers for the past 17 years: our team has grown to over 70 employees with operations based in London (our head office), Leeds, Poland and South Africa.
- We have one of the largest permanent teams of trained, multiskilled and experienced tracing specialists in the UK.