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A lot of the sales and marketing materials that financial services organisations produce, are defined as "financial promotions" and are subject to regulations such as MiFID, COBS, SDR and SFDR.
Athena Know-How specialise in helping financial services organisations comply with those regulations in the most efficient and effective way.
We have a range of fast and cost effective solutions that help Marketing, Sales and Compliance to reduce workload, speed up the approval process and reduce risk.
Typical Content Compliance Challenges
Managing the compliance of marketing and sales materials (content compliance) creates significant challenges for the three key roles involved in producing sales and marketing communications.
"The amount of time that I have to spend on compliance related tasks is very frustrating.
Also, the compliance rules that we have to use, are stricter than the rules used by our competitors – which puts us at a disadvantage."
Content
Creator
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> 10 minutes to find & add the right compliance information to each content item
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> 10% of their content fails approval first time around
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> 3 working days (elapsed) to get their content approved
"I am under constant pressure from content creators to get their content approved more quickly."
Content
Approver
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> 15 minutes to check each piece of content against the compliance rules
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> 10% of the content is not compliant and needs to be returned for re-work
"If the regulator realised how much of our content is not fully compliant, we would have a major problem."
Risk
Management
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> 0.2% of the content that is being used, is not compliant and should not have been approved
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Compliance rules and wording is not used in a consistent and reliable way
Facing similar challenges?
A few examples of the very significant improvements we can help you achieve ...
Compliance related workload per item
From 32 to 10 mins
Time saved: 69%
Elapsed time to get content approved
From 11 to 2 days
Time saved: 82%
Risk of non-compliant content failure
From 3.3% to 0.1%
Risk reduced: 97%
The journey to ideal content compliance
Achieving the ideal way of managing content compliance is a journey.
This typically starts with an “initial discovery phase” to:
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Properly understand the current situation
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Define the ideal way of working
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Agree an overall approach to achieve the ideal
After that, 4 further phases are completed until the ideal position is reached:
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Identifying and agreeing the solution(s) to be implemented (which could involve selection of new or updated technology)
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Preparing the detailed design
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Completing the implementation
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Evaluating the updated position and deciding if further changes are needed
Our Products and Services
Wherever you are on your journey, we have services that can help you achieve your ideal position … quickly and cost effectively.
If you are at the start of your journey, the best starting point is probably our Content Compliance Opportunity Assessment.
It is a great way of understanding what improvements can be made and what impact those improvements will have.
Also, for a limited time only, we are offering the Assessment for free.
Content Compliance Opportunity Assessment
Our other products and services ...
What people say
Joanne,
Marketing Manager
"The Health Check highlighted for us as content creators, the critical need for technology that would provide us with the right compliance guidance and wording.
The biggest time saver for us is being automatically provided with the right warnings and disclaimers that we can easily add to our content."
Samuel
Compliance Officer
"This exercise helped Marketing and Compliance to get a much better understanding of each other's roles and responsibilities and what the concerns or pain points are.
We now work closely together to agree how best to meet the regulatory requirements. Something that didn't really happen before."
Edwin
Content Creator
"At the moment, getting our content approved involves multiple compliance approvals. This massively delays publishing or distribution and means that we often miss key deadlines.
We now know how to fix that problem and are actively working on the changes we need"