FSCS speeds up complaints process as it expects more SIPPs to fail

Sophie King
clock • 2 min read

The Financial Services Compensation Scheme (FSCS) has launched an in-house data lake tool to enhance the efficiency with which it can assess claims, helping to speed up the process for consumers as it expects pension advice and SIPP failures to take up more of its resources. A data lake is a system of stored data that has no structure. Therefore, the FSCS said, its Resolution Data Lake tool will mean it will no longer have to manually assess every single page or document in a customer's file. The tool searches through the data and highlights keywords within the documents, flagging whe...

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