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Barclays tunes up the technology to tighten compliance

Makeover unveiled by the UK bank fined almost £500 million for misconduct since the financial crisis

Barclays tunes up the technology to tighten compliance
Photo: iStockPhoto

Wrongdoing and repercussions have been thrown into the spotlight at Barclays with the news that group chief executive Jes Staley tried to uncover the identity of a whistleblower. But even before that revelation, the bank was lining up a remodelling of its compliance procedures.

Over the past 12 months it has developed a high-tech programme known as MyCompliance designed to make it easier and faster for staff to get answers on a wide range of regulatory issues.

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