Case Study 5: How can we ensure that our handbook is digitised, machine-readable, and searchable for our users?

Published on 22nd March 2022

OUR CLIENT: Global Regulator

The FCA (Financial Conduct Authority) is a UK financial regulator, regulating the conduct of 50,000 firms in the UK.

The FCA has a large and growing remit and prioritises work on higher risk areas and firms to achieve its objectives.

The FCA needed a better way to deliver its regulatory content in a digital way. It already had its own regulatory

content in a digital format but this format was not searchable. They needed to deliver a critical project, a digital

platform that provided users with the ability to search the handbook to locate areas of interest. The Corlytics’

taxonomy, that structures or classifies data combined with metadata or tagging, means that the user has a searchable regulatory universe, specific to the needs of the regulator.

The FCA needed an intelligent handbook with this type of structure and functionality, but no regulator had completed a project of this type previously – this would be a world first.

In Sept 2016 the FCA conducted a pilot project with Corlytics to develop the world’s first intelligent handbook for a regulator. The pilot included visualisation of the content and implementing taxonomy and tagging relationships – in other words, moving to a business centric overlay on top of the FCA’s electronic copy of regulations. The solution also allowed multiple users create, update and delete data. For security and oversight, the solution supported a ‘4-eyes’ workflow and approval process.

Corlytics worked with the FCA to provide a machine learning framework…..

Find out more about Corlytics Solutions

Identify and track emerging regulatory risks with horizon scanning

Simplify regulation and obligation management

Determine your exposure to regulatory risk

Fully-digital, streamlined policy and procedure management