Oanda becomes FCA compliant with Arwen

Helped the team remove comments that put regulatory compliance at risk. Arwen helped Oanda become FCA compliant by routinely filtering out thousands of non-compliant comments.

Products used:

Moderate

Book a Demo

8,322

comments collected & processed

2,812

comments moderated

11.3%

increase in engagement on Facebook

Overview

Ensuring FCA compliance: real-time social media moderation

Social media compliance: protecting your customers from scam comments.

In the financial sector, regulatory compliance is paramount, especially in social media interactions. Financial Conduct Authority (FCA) guidelines provide a framework to ensure that social media communications are transparent, fair, and not misleading.

Arwen ensures that each social media post complies with FCA rules individually, providing clear, fair, and not misleading information. We employ comprehensive monitoring and oversight, utilizing advanced AI to moderate comments on platforms like Instagram and Facebook within microseconds.

Our AI classifies and hides spam by scammers with 98% accuracy, effectively preventing misinformation and maintaining compliance standards. By prioritizing consumer protection and scam prevention, Arwen ensures transparency and accuracy in all communications, safeguarding consumers and maintaining trust in your brand's social media presence.

Challenge

Oanda is a global foreign exchange platform. Their compliance team were looking for a solution that would help them comply with Financial Conduct Authority guideline FG24/1, which placed obligations on UK financial services marketing on social media.

Specifically, it requires them to protect consumers, particularly vulnerable ones, from misleading promotions and scams. This includes moderating comments to ensure their socials remain fair, clear, and not misleading. Doing this manually was proving to be incredibly cost-prohibitive and time-consuming for the team.

Scam comments on Oanda social media posts

Solution

The Arwen team worked closely with Oanda to thoroughly analyze the FCA's FG24/1 guidelines. These guidelines were translated into a new, sophisticated detection algorithm capable of reviewing all comments for compliance across social media profiles.
The algorithm scans incoming comments from Oanda's 24 social media profiles in real-time, hiding any that violate FG24/1 guidelines to ensure compliance.
Once implemented, Arwen continuously learned from the diverse range of spam comments and non-compliant content, improving its accuracy in detecting violations and spam patterns.
A routine reporting mechanism was set up to provide Oanda with detailed evidence of compliance, demonstrating Oanda's proactive approach to financial promotion regulations on social media.

Oanda comment section before and after Arwen moderation

Results

The Oanda team now relies on Arwen to keep them compliant with the FCA guidelines and provide them with reference-able reporting to demonstrate compliance. It has significantly freed up the team's time from manual moderation, allowing them to refocus on higher-value work. They also like how it keeps their social community free from noisy and polluting spam.

After using Arwen, Oanda experienced significant improvements across multiple social media profiles:

8,322 comments monitored and processed
2,812 comments moderated, ensuring strict adherence to FCA guidelines
11.3% increase in engagement on Facebook, fostering genuine interactions

Oanda has reinforced its commitment to customer safety and financial well-being by protecting users from scams often disguised as legitimate comments.

Oanda engagement results after Arwen moderation

“

Arwen is great. It does exactly what we want it to do. It's great at removing all the spam and keeping us compliant.

Head of PR and Content, Oanda

Dana Catterina

Oanda becomes FCA compliant with Arwen

Ensuring FCA compliance: real-time social media moderation

Challenge

Solution

Results

Ready to turn every comment into measurable value?