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Having invested substantially in the development of your platform, you are proud to have your core asset in place, but can you be confident that you are ready to run your business end to end with these existing systems? Have all stakeholders adequately contributed to the process, or will you find shortcomings when it comes to scaling your business?
In undertaking a Platform Audit, we will interview key stakeholders, evaluate important proceedures and review the systems design and implementation, in order to understand and analyse the systems themselves, and their suitability for the compliance and growth requirements. The consultant undertaking your audit has over five years' experience in the P2P and P2B lending industry and will help you prepare for your platform's future.
Our team has several years of practical experience running a P2B lending platform and has navigated the regulatory framework to achieve full FCA authorisation. We are, we believe, therefore qualified to provide a unique and valuable platform audit service.
The formation and implementation of regulatory policies and process based on the FCA handbook is a key aspect of achieving FCA permissions. However, it is only through experience that a business truly learns whether its platform and systems can successfully, efficiently and consistently meet the high standards required of P2P and P2B platforms.
While preparing the business for launch, many companies will create ‘complementary offline' processes and systems to help meet compliance requirements. It is possible that some of these ‘complementary offline' procedures may be incorporated into your platform, with the help of detailed specifications that meet the needs of the administrator and are sufficiently comprehensive for your developers.
Our Platform Audit Service will review key areas of both the operation of your platform and the processes involved, and provide you with vital feedback. We will offer suggestions for how to improve and adapt your platform to more efficiently meet regulatory requirements and better serve both your business and your clients. Whether you are in the process of applying for authorisation or have already obtained it, our audit will prove invaluable to the improvement of your business.
Demonstrate to regulators that you have undertaken an independent external review of key systems and processes
Identify areas of operational risk within your platform systems
Identify areas of compliance weakness
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Review of administration interfaces used by internal staff and their suitability |  |
Macro <> microloan integrity audit to validate and verify the data integrity. Where a platform doesn't yet have data, we provide the testing framework to be able to perform internal audits, once launched |
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Analysis of admin user roles and permissions configurations |  |
Review of development, deployment and testing best practice |
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Review of client money management processing and its suitability for CASS compliance requirements |  |
Evaluation of the implementation of key interfaces used by the different users, and suggestions of adaptations that may be necessary for vulnerable investors |