Industry experience

Financial services

Individual Savings Account (ISA) Operational Design

Client
Investment subsidiary of UK Clearing Bank
Sector
Financial services

Project description

The introduction of the ISA, to replace both PEPs and TESSAs as tax-free savings vehicles, introduced new operational and compliance requirements.

In order to ensure that the Bank would be able to administer ISAs from their launch date, they needed a high level operations design for ISA sales and service across multiple dimensions including:

  • documentation
  • site of operations
  • communications between divisions
  • establishment of call centre
  • resource and space requirements
  • audit requirements
  • regulatory implications
  • complaints handling

ItemPlus created the high level operational design covering all these issues.