FSA regulatory compliance consultancy, RWA Group, has selected an automated direct debit (DD) system from Albany Software, a developer of electronic payment solutions. As the organisation faces rapid growth and an influx of new clients, RWA is looking to streamline back-office processes and take control of monthly collections. By replacing paper-based banker’s orders with electronic DD collections, RWA aims to accelerate initial contract procedures and minimise the delays associated with paper-based payment methods.
RWA Group offers FSA regulatory compliance support services to firms of all sizes. The consultancy has helped hundreds of brokers in preparing to be regulated and continually keeping them abreast of the latest developments in the regulatory area. Having recently won a substantial contract with a leading insurance firm, RWA Group is enjoying significant growth and a healthy incursion of new clients.
Ian Ritchie, managing director at RWA Group, said: “With the business rapidly expanding we realise that we need to ensure that our back-office processes are able to cope and work effectively to minimise, as much as possible, the administrative burden associated with an expanding business. For a while, we have wanted to move away from traditional and cumbersome paper-based methods of collecting payments to a more modern and automated approach.
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