Banking can be a high-stakes, stressful environment. For the so-called disruptor ‘challenger banks’, where success and failure are a hair’s breadth apart, growth is king – but it shouldn’t be at the expense of complying with regulations.
The Financial Conduct Authority (FCA) has made it clear that a challenger bank’s failure to establish and maintain effective financial crime controls will have severe consequences. Starling has been the first to fall foul of the law and levied with a £29 million fine for financial crime failings related to its financial sanctions screening and repeated breaches of the FCA’s requirement not to open accounts for high-risk customers.
So how does whistleblowing fit in?
Our upcoming Breakfast Briefing in March 2025 explores the critical role of whistleblowing in the risk management strategies of Challenger Banks.
Join us for an insightful morning as industry experts discuss how robust whistleblowing frameworks can help mitigate risks, ensure regulatory compliance, and protect the integrity of challenger banks in today’s fast-paced financial environment.
Further details and registration information will be released very soon.