Simplybiz has launched a compliance digitisation tool, a custom version of regtech provider ifaDASH’s platform, available exclusively to its member firms at no additional cost.
Navigator is an online platform, allowing advisers to manage their compliance responsibilities from a central compliance hub. It supports a range of regulatory functions, including managing business risks with RAG-rated dashboards, monitoring and managing client ongoing review activity, collating file review outcomes in a central location and providing Consumer Duty MI.
Navigator is suitable for investment, pension, mortgage, and protection advice firms, no matter the size or structure of the business.
Paul Bruns, compliance director at Simplybiz, commented: “The Simplybiz compliance team spends a huge amount of time speaking – and, more importantly, listening – to advisers. Recently, there’s been one thing we’ve been told they would value more than anything else - more effective and efficient ways of managing regulatory obligations.
“Supporting the business growth of our member firms is vitally important to us, and it is essential that we help them to grow in a safe and efficient manner. Navigator has been developed using Simplybiz’s regulatory knowledge and expertise alongside ifaDASH’s technical expertise to provide an effective compliance solution and aims to keeps firms safe. After introducing Navigator to our members at a recent series of events, 200 firms have already requested to be early adopters of the system, indicating a high demand for this type of solution.
“As regulation evolves, the need to harvest appropriate data is becoming more important, particularly to assist with evidencing Consumer Duty outcomes. Navigator has been designed to meet the needs of advisers, no matter the size of their business or the activities they undertake, and the system will itself evolve in line with the regulator’s requirements. This is just the beginning of the journey, Navigator will continue to evolve to provide a re tech business solution to manage compliance responsibilities, hosted by a partner that cares."
Kyle Augustin, CEO of ifaDASH’s parent company, Fintel IQ, added: “Combining the regulatory expertise of Simplybiz and the technical expertise of Fintel IQ’s ifaDASH, Navigator will help to steer advisers through the often-complex world of regulation, simplifying complexity and providing connectivity whilst helping to manage risks within their businesses.
“Navigator will power efficiencies within advisers’ processes, further helping them to deliver better outcomes to more clients.”
