FCA announces benefits of new data collection platform RegData

NEWS
Published
Nov 24th '20
Share
Facebook

RegData will replace Gabriel as the Financial Conduct Authority’s (FCA) data collection platform. RegData is informed by user feedback, is faster, easier to use and built with flexible technology, making it possible to fix issues quicker and to make ongoing improvements to user experience. RegData is central to the FCA Data Strategy which sets out the FCA plan to harness the power of data and advanced analytics to transform financial regulation.

 

Addressing user feedback for a better reporting experience 

In 2019, the FCA asked firms and other users to tell us about their experience of Gabriel and they met with firms to explore their feedback. As well as informing thier plans to move 120,000 users and the data of 52,000 firms across from Gabriel to RegData, they identified 3 key areas for improvement in Gabriel, for which the FCA have made initial enhancements in RegData.

 

1. Accessing the system – speed of the system and support when accessing Gabriel 

  • Increased speed and faster navigation – It will be faster and easier to navigate and complete submissions in RegData due to user jthe FCAney improvements.
  • Support across the platform – It will be easier to find information within RegData and on the FCA website. The FCA’ve improved messaging and signposting so that success or error messages are clearer.
  • New online resources – The FCA’ve produced a series of individual explainer videos and user guides for each aspect of the functionality in RegData.
  • Single sign-on between Connect and RegData – Users will use the same username and password for Connect and RegData. Firms must enable this by logging into Gabriel and completing a short one-time registration ahead of their move, unless already completed.

 

 

2. Viewing reporting schedules – improvements to the layout of a firm’s schedule and submission history

  • An intuitive layout – A firm’s reporting schedule in RegData will have improved navigation and functionality, with messages that make it clearer when data items are due and overdue.
  • Finding draft, past, due or overdue data items – In RegData, users can sort draft and past submissions by date and status. The schedule automatically brings overdue items to the top of the page and you can expand or collapse details for each item.

 

 

3. Submitting data – better guidelines when making data submissions and enhancements to the data validation feature 

  • Helpful messaging and clearer error flags – Submission issues in RegData will be easier to identify, particularly on a user’s schedule and in a form.
  • Step-by-step and smarter validation – The FCA have improved validation features. RegData validates data as it is inputted into the field. The FCA have also included guidelines in each field and across the form to clarify the data they’re expecting – such as currencies, types of files, entry type (numbers or text), as well as a form’s status (e.g. draft).
  • Form navigation and auto-save – Forms have a clearer layout, with improved navigation using features such as the ability to zoom in and out on tables. Inputted data will also be automatically saved every 2 minutes.

 

 

Moving from Gabriel to RegData

The FCA are moving firms and their users to RegData in groups to minimise impact on firms. Firms’ moving dates are determined by their reporting requirements. Firms can find out what to expect from the move and from RegData by watching the FCA short videos or visiting the FCA page on Moving the FCA Firm to RegData.

 

All users must register for RegData ahead of their move by logging in to Gabriel and completing the one-time registration when prompted. Until they are moved, firms should continue reporting via Gabriel using their existing Gabriel login details.

 

Source: FCA