Financial Services Compensation Scheme (FSCS) compliance

Action required now to meet 31st December 2010 deadline

The forthcoming FCSC requirements are another burden on top of an already large pile of compliance-based projects that are being addressed within Financial Services.

Although, on the surface, the requirement seems to be fairly simple, the truth is that the complexity of the IT infrastructure, the number silos of information that need to be accessed and the lack of suitable data migration environments available to ensure success, mean that this is yet another headache in the making a potential risk area for the business and IT.

The Celona FSCS solution delivers a low-risk, fully compliant migration solution, along with a business-level audit trail and production of the SCV data to meet the FSCS deadline. Using a new generation application data migration platform, Evolve from Celona, the solution is specifically designed to de-risk the data migration process by understanding the context by which data is being used in the organisation, and to preserve that context throughout the migration process. One significant advantage for users is the ability for Evolve to migrate data while concurrently synchronising it between legacy and new application systems with minimal risk and without business disruption.

The Celona Evolve platform for Financial Services has been specifically designed for the financial industry focusing on providing business agility never previously possible with traditional migration tools and methods. Celona Evolve is able to handle all data migration activities, delivering:

• Significantly reduced risk – taking data migration off the critical path.
  
• Zero downtime.
  
• Bi-directional data synchronisation as standard.
  
• Business audit trail demonstrating compliance.
  
• Lower cost of compliance.
  
• Faster implementation of solution.
  
• Ease of maintenance.
  
• Re-usable for future data migration projects.

Download the Celona FSCS white paper to further understand the requirements and key issues associated with delivering a FSCS compliance project, as well as a comprehensive description of the Celona FSCS solution.