CCR Magazine

You are here  :Home arrow News arrow Risk News arrow ‘Digital intelligence' helps meet challenge of Senior Manager regime
Contact Us Newsletter Signup RSS Feeds

‘Digital intelligence' helps meet challenge of Senior Manager regime PDF Print E-mail
Friday, 13 April 2018
A new ‘digital intelligence' service is helping banks and financial institutions to meet the challenges of the new Senior Manager regime.  

The service from London-based tech company Neotas provides a way for employers to evidence that their Senior Managers satisfy the FCA criteria of ‘honesty, integrity and reputation' to ensure they are a ‘fit and proper person' for the job.

Under the FCA rules, financial institutions appointing a Senior Manager (SM) and other certified roles must evidence the candidate's competence and credibility; financial soundness; and honesty, integrity and reputation.

The Neotas service analyses digital trails to reveal an individual's true character, behaviour and networks. The technology platform, which is carried out by expert analysts with the individual's consent, uses Open Source Intelligence (OSINT) sources from social media, the deep web and dark web alongside numerous other online sources to highlight potential risks to clients.

Ian Howard of Neotas says: "While competence, credibility and financial soundness can be determined by traditional background checks, providing evidence of honesty, integrity and reputation is much more difficult. The rules require organisations to consider all relevant matters and take all reasonable steps.

"Neotas reviews all available sources to ensure financial organisations are fulfilling their obligations under the SM regime and give them peace of mind."

The Neotas service can highlight risk factors such as threatening, derogatory or explicit content, extreme views or opinions, involvement in illegal activities as well as any questionable relationships or connected parties and potential conflict of interest which standard background checks may fail to uncover. In one case, for example, it revealed evidence of drug use and abusive behaviour by an SM who had already passed standard recruitment checks.

Ian Howard adds: "In the digital era, there is a wealth of information available that can help protect organisations from threats posed by their senior managers. The Neotas service brings compliance into the modern age to ensure banks and others in the financial services sector meet the challenges of the new regulatory landscape."

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

Risk Sponsor

This Risk News section is currently available for sponsorship.

Please click here to contact us about our site sponsorship opportunities.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197