Brexit - Practical implementation without the hype

Over the past few months; GFT has – like many others – been trying to make sense of the true implications of Brexit, with a focus on the financial sector. We have used our regulatory know how to dissect the legal parts, look at the state of affairs in the market and the various reports from official and unofficial sources.

The obvious conclusion to draw is that aside from being an incredibly polarising topic, there is a lot more noise being generated than is warranted, which is not perhaps surprising in the new climate of ‘Fake News’. However, once the politics are stripped away, we can begin to look at this as essentially a ‘change project’ whose parameters are still being formalised.

Currently all the data about contracts will (hopefully) be sitting in the same place. After Brexit, it will need to be split and sent down differing workflows, revalidated, potentially be enriched and controlled. This need to change should be viewed as an opportunity to mitigate the cost of creating new organisations by using technology to apply workflows, look at the overall data landscape, ensure regulatory compliance and perhaps consider a ‘spring clean’ given the impending GDPR regulation coming around the corner.

To discuss this topic further, please get in touch with our specialist