The FCA outlines the benefits of its new RegData platform

The UK’s Financial Conduct Authority (FCA) is replacing its data collection platform Gabriel with RegData and has highlighted a number of its improvements to user experience.

In 2019, the regulator asked firms to outline their experiences with Gabriel. These discussions brought to light three key areas for improvements RegData needed to make.

One of the key improvements is the speed of the system, which will enable users to quickly and easily navigate the system to complete submissions. It will also be easier to find information via improved signposting, as well as individual explainer videos and guides to improve understandability.

RegData is also offering improvements to the layout  of reporting schedules for firms. There is an improved navigation tool and functionality to help users understand what data items are due or late.

Finally, the platform has improved the general data submission process. There are helpful messages and error flags so companies can understand where they have fone wrong and what they need to improve.

The FCA is currently moving firms and their users to the RegData platform in groups to minimise the impact. Moving dates are determined by reporting requirements.

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