The area of technology known as Management Information (MI) is the final great hurdle to fully implementing TCF, according to a discussion chaired by Ernst & Young.
The Financial Services Discussion Club, hosted by research firm clearconcepts, involves a number of provider firms, and its last meeting found “90%” of those in attendance had not been asked for TCF policy details by partner firms. Where firms have managed to share more data through better formulated MI structures, they have been subject to a flood of data from which meaning has had to be derived. So far much reliance is being made of complaints data. Paul Jennings of Ernst & Young said: “The next stage of TCF development is undoubtedly in the area of improved Management Information. ...
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