Diligence Hub, the compliance platform developed by FCSA, has launched a Financial Services Compliance Dashboard that gives banks, capital lenders, and financial institutions direct oversight of compliance risk across the recruitment portfolios they finance.
The dashboard arrives ahead of Joint and Several Liability (JSL) legislation taking effect on 6 April 2026, which makes organisations within a labour supply chain potentially liable for unpaid PAYE and National Insurance contributions where an umbrella company fails to account for them correctly. With approximately 700,000 workers employed through umbrella companies in the UK, supported by around 30,000 recruitment agencies and 400 umbrella providers (GOV.UK Impact Assessment), the financial exposure for institutions lending into this sector is significant.
Completing the Circle of Trust
The Financial Services Compliance Dashboard is the latest component of Diligence Hub’s 360° Circle of Trust, a compliance framework designed to give every party in the recruitment supply chain verified visibility over the others.
Diligence Hub already provides recruitment agencies, umbrella companies, end-clients, and contractors with tools for ongoing compliance monitoring. The platform includes real-time payslip verification and RTI comparisons through veriPAYE, secure document sharing through the Diligence Exchange, and centralised compliance reporting. The Financial Services Compliance Dashboard extends that same principle of verified transparency to the financial institutions whose lending underpins the sector.
For banks and other capital lenders providing direct lending and/or invoice finance, the dashboard provides a portfolio-level view of compliance status across the recruitment businesses they finance. Rather than relying on self-reported data or periodic audits alone, financial institutions can access independently verified compliance information drawn from across the Diligence Hub platform.
Why banks need supply chain visibility now
JSL legislation creates a chain of accountability that runs through every layer of the recruitment supply chain. Financial institutions lending to recruitment agencies or umbrella companies face indirect exposure: if a borrower becomes liable for a supplier’s unpaid tax obligations, that liability affects the borrower’s financial position and, by extension, the lender’s risk profile.
The Banking Compliance Dashboard allows lenders to identify and monitor compliance risk within their portfolios before it becomes a financial problem.
Magna Group, a specialist workforce management and compliance business, collaborated with FCSA to help design the Diligence Hub financial dashboard, and is leveraging the platform to deliver enhanced compliance oversight across its recruitment supply chains.
“Our financial partners have always wanted greater visibility into the compliance position of the supply chains we manage on their behalf. The Diligence Hub dashboard gives them that in a format they can work with directly, without relying on us to translate the data. It’s a much cleaner way to demonstrate that risk is being managed properly.”
Richard Clements, Founder, Magna Group.
A standard for the sector
Chris Bryce, Chief Executive of FCSA, said:
“Diligence Hub was built on a simple principle: compliance works best when every party in the supply chain has visibility over the others. The Financial Services Compliance Dashboard is a natural extension of that 360° Circle of Trust. Banks and other lenders have always needed to understand the risk profile of the businesses they finance. With JSL creating new liabilities across recruitment supply chains, that need has become urgent. Diligence Hub gives financial institutions independently verified compliance data, not just assurances, and that is exactly the kind of transparency this sector requires.”
About FCSA
FCSA is the UK’s leading not-for-profit independent regulatory body for the recruitment supply chain. It sets compliance standards for umbrella companies and recruitment intermediaries, and its accreditation process is widely recognised as the benchmark for good practice in the sector. FCSA works collaboratively with government, HMRC, and industry stakeholders to raise standards and protect workers.
fcsa.org.uk
About Diligence Hub
Diligence Hub is FCSA’s compliance platform, providing 360° visibility across the recruitment supply chain. Its tools include veriPAYE for real-time payslip verification against HMRC data, the Diligence Exchange for secure due diligence document sharing, and compliance dashboards for agencies, umbrella companies, end-clients, and financial institutions. Diligence Hub is Cyber Essentials Plus certified.
diligencehub.co.uk
