The relationships between financial institutions and clients are predicated on trust and security. This makes fulfilled regulatory compliance – from financial processes to building compliance – an especially important business consideration for businesses in this sector. Find out more about compliance for financial institutions in the UK, the risk of non-compliance, key benefits, and how working with facilities maintenance professionals like Voltix Services ensures compliance standards are met.

The Risk of Non-Compliance for Financial Institutions

The financial sector is highly regulated in terms of financial practices, but there is an array of maintenance-related regulations that need to be met under the umbrella of compliance in the U.K. Standards and regulations prescribe inspections, repairs, and record-keeping across a range of touchpoints within the built environment. Failure to comply may result in:

• Financial penalties and/or imprisonment;
• Disrupted business continuity;
• Reputational damage;
• Potential legal proceedings.

With many regulations relating to health and safety within a building, you may also compromise the health and wellbeing of your staff and clients.

Key Benefits of Facilities Maintenance for Financial Institutions’ Compliance

Health and Safety

Many compliance regulations are linked to workplace health and safety. Meeting compliance standards for the Health and Safety at Work Act and beyond ensures preventative maintenance measures that reduce risks and hazards.

 

Sustainable and Environmental Priorities

As with all other industries, the financial sector is under increasing pressure to work towards more sustainable and environmentally conscientious practices. There is a growing body of regulation around this, with disclosures, ESG, and reporting coming to the fore around the world.

 

Continuity and Resilience

Business continuity and agility are elements covered by the FCA and PRA, which require financial institutions to mitigate risks of disruptions and ensure continued service in the event of systems failures and other issues. Employing smart technologies and the highest level of condition-based maintenance for critical systems minimises the risks of operational downtime.

 

Security

Financial services are required to operate within strict security provisions. This involves access control, security surveillance, and cyber-secure IT infrastructure.

 

A Commitment to Compliance Culture

The imposition of penalties for non-compliance is an immediate worry for financial institutions. However, an airtight approach to compliance demonstrates a compliance culture that is a strong marketable point for institutions within the sector, building trust and confidence among potential and existing customers.

 

Facilities Maintenance for Ensured Compliance in your Financial Institutions

Keep Up with Changing Compliance Requirements

The ever-changing regulatory landscape is one of the greatest challenges to compliance for financial institutions. At Voltix Services, our team offers a dynamic solution to stay on top of applicable regulations and changes to keep your built environment compliant.

Put Security First with the Right Facilities Maintenance Provider

Trust and high security are paramount within financial institutions. Our team of directly-employed engineers are thoroughly security vetted including an enhanced DBS check  and offer a full maintenance solution, reducing the risk associated with multiple contractors.

Reduced Compliance Risks Through Digital Tools

While emergency callout services are built into our solutions, we don’t want you to have to use them. We use smart sensors and technologies to monitor key systems. We know before you know when issues arise, allowing expedited action and mitigating damage.

We also use these innovative solutions to guide optimal condition-based maintenance on critical systems. This ensures more accurate maintenance scheduling,  reduced risk and cost.

Transparent Compliance Processes

Through our client portal, our clients enjoy full visibility of completed and upcoming compliance requirements. Records and certifications are accessible from one location for simplified record-keeping and reporting.

 

Achieve Full Compliance with Facilities Maintenance from Voltix Services

In addition to keeping your operations and offices running smoothly, efficiently, and safely, we simplify compliance processes and ensure they are met to the highest standard. Contact Voltix Services today to maximise the value of your facilities maintenance.