The FCA has announced potential improvements to its new data collection platform, based on user feedback.
In July, we reported that the regulator had announced plans to replace its data collection system, Gabriel, in order to improve the way regulatory data is collected from firms. These plans were at an early stage.
An online survey has been completed by over 1,000 Gabriel users and other Gabriel stakeholders. The feedback will be used to shape and develop the new platform.
The three key improvement areas identified were:
- Accessing Gabriel – improvements needed to the speed of the system and support accessing it
- Viewing the Gabriel reporting schedule – changes needed in layout of schedules and viewing of previous data submissions
- Submitting data – better guidance required and improvements needed to system’s data validation processes
The FCA has stated that the new platform will allow for issues to be fixed more quickly, support guidance will be improved as will the validation process.
Early changes to the platform will, the FCA say, be technology-based (i.e. behind the scenes) meaning that there will initially be no changes to the way firms currently provide data to the regulator.
The feedback survey is still open so click here if you wish to complete it.