Styles&Wood gains two regtech deals in UK
Styles&Wood has gained two new takers of its Arctick governance risk and compliance solution: Go Car Credit Limited and Chetwood Bank.
Go Car Credit, a consumer motor finance lender in the UK, has opted for the off-the-shelf version of the system, according to the vendor. Arctick will support audit, compliance and risk management requirements of the Financial Conduct Authority (FCA) under SYSC 7 and the future requirements of the Senior Managers and Certification Regime (SMCR).
As part of the three-year contract, the Arctick team will work with Go Car Credit to implement the appropriate controls and actions required for the upcoming General Data Protection Regulation (GDPR) compliance.
Arctick has been also selected by Chetwood Bank, a new bank in the UK. Chetwood will implement Arctick to meet the governance and control requirements of the Prudential Regulation Authority (PRA) as it rolls-out its new lending and savings products, as well as to comply with SYSC 6 and SYSC 7 requirements.