Expert Compliance Solutions for Financial Institutions | Avoid FCA Penalties FCA regulated service
- 100% Done-for-you service
- Avoid FCA penalties
- Fast, low-cost delivery
- 30+ of Customer Tracing & Data Quality Expertise
Vilcol provides comprehensive customer data audit services designed specifically for financial institutions requiring full compliance with Financial Conduct Authority (FCA) Consumer Duty regulations.
Our specialist team brings unparalleled expertise in customer tracing and address verification, ensuring your organisation meets its Customer Due Diligence (CDD), Know Your Customer (KYC), and Anti-Money Laundering (AML) obligations.
Call us on 0208 390 9988
Regulatory Requirement
The FCA mandates that all financial institutions holding and dealing with customer funds must maintain accurate, up-to-date customer records and conduct annual audits to verify this information. Non-compliance can result in significant penalties, regulatory action, and reputational damage.
Why Choose Vilcol for Your Customer Data Audit?
As a specialist investigations agency with extensive experience in people tracing, Vilcol offers a unique advantage in customer data verification. Our proven methodologies combine traditional investigative techniques with advanced data analysis to deliver the most accurate audit results in the industry.
High Success Rate
Our advanced tracing capabilities mean we can locate and verify customer addresses with exceptional accuracy, even for difficult-to-trace individuals who have moved multiple times or left minimal trace.
FCA Compliant Reporting
All audits are conducted and documented in accordance with FCA guidelines, providing you with comprehensive evidence of compliance for regulatory inspections and internal governance.
Experienced Team
Our investigators have decades of combined experience in tracing individuals and verifying identities, ensuring the highest quality results for your audit requirements.
Scalable Solutions
Whether you need to audit 100 or 100,000 customer records, our processes are designed to scale efficiently while maintaining meticulous attention to detail for every single case.
Secure & Confidential
We maintain the highest standards of data security and confidentiality, with robust processes that protect your customers' sensitive information throughout the audit process.
Actionable Insights
Beyond simple verification, we provide detailed analysis and recommendations to help improve your ongoing data quality and customer communication strategies.
Our Customer Data Audit Services
Address Verification & Tracing
Our primary focus is ensuring the accuracy of customer address records. We employ multiple verification methodologies to ensure this. For customers who have relocated, our expert tracing team utilises advanced investigative techniques to identify current residential addresses.
Full Customer Due Diligence (CDD) Audits
We conduct comprehensive CDD audits that verify all aspects of customer information including name variations, date of birth accuracy, contact details, and identity documentation validity. Our audits identify discrepancies, outdated information, and potential compliance risks within your customer database.
Annual Compliance Audits
Meet your FCA obligation for annual customer data audits with our structured audit program. We work to your timeline to ensure your audit is completed efficiently and documented thoroughly, providing you with complete peace of mind for regulatory inspections.
The Vilcol Audit Process
1. Initial Consultation & Scoping
We begin with a detailed consultation to understand your specific audit requirements, customer base characteristics, and regulatory concerns. We'll establish clear objectives, timelines, and success criteria for the project.
2. Secure Data Transfer
Your customer data is transferred to us via secure, encrypted channels. We implement strict access controls and handle all information in accordance with GDPR and data protection best practices.
3. Systematic Verification
Each customer record undergoes our comprehensive verification process. We use multiple data sources and investigative techniques to confirm address accuracy and identify any discrepancies or outdated information.
4. Advanced Tracing
For customers where initial verification identifies issues, our specialist tracing team deploys advanced investigative methods to locate current addresses and update your records accordingly.
5. Comprehensive Reporting
We deliver detailed audit reports that document our methodology, findings, and verification status for each customer. Reports are structured to meet FCA requirements and include statistical analysis of your data quality.
6. Remediation Support
We provide guidance on addressing identified issues and can assist with customer outreach strategies to update records where necessary. Ongoing support is available to help maintain data quality post-audit.
Benefits of Partnering with Vilcol
- Full Regulatory Compliance: Demonstrate adherence to FCA requirements for CDD, KYC, and AML obligations with comprehensive audit documentation
- Risk Mitigation: Identify and address data quality issues before they become regulatory problems or enable financial crime
- Improved Customer Communication: Accurate address records ensure important communications reach customers, reducing returned mail and improving service delivery
- Cost Efficiency: Reduce wasted resources on communications sent to incorrect addresses and streamline your customer contact processes
- Enhanced Due Diligence: Strengthen your overall AML framework with reliable, verified customer information
- Audit Trail: Complete documentation of verification processes provides robust evidence for regulatory inspections
- Data Quality Insights: Gain valuable understanding of your data quality issues and trends to inform process improvements
- Peace of Mind: Rest assured that your customer data meets the highest standards of accuracy and regulatory compliance
Call us on 0208 390 9988
Industries We Serve
Vilcol's customer data audit services are trusted by financial institutions across multiple sectors including:
Banks and Building Societies - Retail and commercial banking institutions requiring regular customer data verification to maintain FCA compliance and prevent financial crime.
Investment Firms - Asset managers, wealth managers, and investment platforms needing enhanced due diligence on client records.
Insurance Companies - Life insurance, general insurance, and reinsurance providers maintaining accurate policyholder information.
Pension Providers - Pension funds and administrators ensuring accurate beneficiary records and meeting tracing obligations.
Payment Service Providers - Electronic money institutions and payment processors requiring robust KYC verification.
About Vilcol Investigations
Vilcol is a leading investigations agency specialising in people tracing and verification services. With a proven track record of locating individuals and verifying information with exceptional accuracy, we have become the trusted partner for financial institutions requiring high-quality customer data audits.
Our team combines traditional investigative expertise with modern data analysis capabilities to deliver results that exceed regulatory requirements and client expectations.
Our commitment to excellence, confidentiality, and regulatory compliance has made us the first choice for organisations seeking to maintain the highest standards of customer data accuracy and meet their FCA obligations with confidence.
Vilcol is a ISO 9001:2015 Pan European Quality Standard company and has been registered with the Credit Services Association since 1997.
Book your customer data audit today!
Call us on 0208 390 9988
Customer Data Audit Services
How long does a customer data audit take?
The timeline depends on the size of your customer base and the complexity of verification required. A typical audit of 10,000 records takes 4-6 weeks from data receipt to final reporting. We work to accommodate your regulatory deadlines and can expedite projects where necessary.
What happens if customers cannot be traced?
While our success rate is exceptionally high, some customers may prove untraceable due to intentional obscuring of location or insufficient initial data. In these cases, we document our search efforts comprehensively, which demonstrates reasonable steps taken for regulatory purposes, and provide recommendations for next steps.
Is the audit process GDPR compliant?
Absolutely. All data handling processes comply fully with GDPR requirements. We act as a data processor under your instruction, maintain strict data security protocols, and ensure all processing has an appropriate lawful basis under your regulatory obligations.
Can you audit international customers?
Yes, we have extensive experience tracing and verifying customers internationally. Our network and data access allow us to verify addresses in most jurisdictions, though timescales may vary depending on location.
How do you ensure data security?
We employ bank-grade encryption for all data transfers, maintain ISO-certified information security management systems, restrict access on a need-to-know basis, and undergo regular security audits. All staff are thoroughly vetted and trained in data protection requirements.
Ready to Ensure Your Compliance?
Don't wait until your next regulatory inspection. Contact Vilcol today to discuss your customer data audit requirements and receive a tailored proposal.