Financial Services Regulation
Statements of Advice
Sintelix extracts key information from statements of advise, this information is then compared to generated advice provided by financial services software platforms for any irregularities.
Sintelix searches for items aligned to Key Risk Indicators (KRIs) for example, identifying clients that may not meet income requirements completely.
- Extraction of language failing to comply with regulatory standards
- Application of rules to the extracted information to establish compliance
- Turns unstructured data over wide data sets into actionable business intelligence
Sintelix effectively monitors, identifies and analyses promotional material relating to banking, credit and insurance.
By identifying and extracting key informative features, Sintelix can monitor inconsistencies in disclaimers, incorrectly quoted interest rates and look for specific requirements for financial promotions relating to credit products including relevant and regulatory guidance.
- Categorisation of the type of financial promotion
- Entities referenced in the promotion
- High risk words
Sales Call Monitoring
Sintelix effectively monitors financial services sales calls, ensuring that any advice provided is screened for compliance and consistency.
For many consumer credit firms, compliance and call monitoring should include the recording and checking of sales calls to ensure staff are following the correct sales processes.
- Identifies advice inconsistencies
- Provides actionable reports to improve advice provided by employees
- Helps with dispute resolution