Poor software projects among efforts to overhaul FCA that came up short, MPs find
UK politicians have slammed the nation's financial regulator for failing to implement a transformation program underpinned by technology.
Bob Blackman, Conservative MP and co-chairman of the APPG, said the FCA's technology-enabled transformation program had not solved the organization's"long list of problems." One participant in the report, an employee speaking anonymously, said two technology projects implemented in Supervision, a data storage project based on SharePoint, and Intact, a case management system, had been implemented"without proper business analysts."
The APPG also heard the FCA had ordered Lenovo tablets, which were designed for light domestic use, and ran them for 14 hours a day in an office environment."As these were fan-cooled, it meant that after less than three months, all these tablets started to fail as their cooling fans began to grind into the computer circuits around them causing them all to be replaced,"revealed that it makes £725.1 million income million a year from fees and levies.
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