Fintech Awards 2019 22 Wealth & Finance International - Fintech Awards 2019 Initially set up in 2012 to provide advice and support firms in relation to compliance with FCA regulation, PRA requirements and key legislation impacting the financial services industry, Thistle Initiatives has expanded to encompass a wide range of financial compliance services. As a firm, Thistle operates across a number of different financial services sectors, including investments, insurance, consumer credit and payment services. Their clients range from niche start-ups to the largest of distributors, including investment specialists, as well as insurers and banks. The range of support they provide is as diverse as their client base. They offer numerous services to support at all stages of a firm’s development. From direct authorisation for new start-ups and Appointed Representatives looking to take the next step to regulatory advice, policy support and compliance audits, as well as ongoing day to day compliance support with existing and upcoming regulation, the firm ensure they can provide a Specialising in financial compliance, Thistle Initiatives is able to provide proactive consultancy services to clients across the financial market. We profile the firm and explore how its service offering is particularly relevant to clients across the ever-evolving FinTech sector. Best Financial Services Compliance Consultancy- UK & Ireland custom, practical service to all clients. Firms can also seek to become Appointed Representatives of Thistle’s sister company, Resolution Compliance, which offers complete network solutions to firms from across the financial services industry. Specifically, the fintech team provides compliance support for over 90 fintech companies. These clients vary in firm type and include robo-wealth managers and -advisors, banks, credit lenders, P2P lenders, equity and debt crowdfunders, e-money institutions, insurance and credit brokers and, more recently, firms operating in the crypto asset space. Having seen the development of fintech from its initial stages as a disruptive tool against the more traditional markets to one which is now transitioning into a collaborative, partnered marketplace, the team fully understands the nuances of the market and is able to work closely with clients to provide them tailored support. The team are evolving simultaneously with the sector Thistle Initiatives and are constantly improving their knowledge base and service offering to ensure that any fintech firm, at any stage of development, can get the support and guidance required to operate effectively and compliantly. This ensures that they remain at the forefront of regulatory and industry developments. The services offered provides clients with not just a consultancy service but one which is tailored to the needs and requirements of the firm. In that respect, the service is very dynamic and can be adapted to any size business at any stage in their journey. A key part of their make-up now is the Innovation Hub, which is providing a ground-breaking service for firms unsure of their next steps and in need of that first round of guidance regarding the need for regulation. Most notably, and something which they pride themselves on, is the practical nature of their service. Businesses are often quoted the rules and regulations applicable to their operation and then left to implement these on their own. But with Thistle, the focus is to ensure that they not only provide the correct and appropriate guidance, but also support firms in executing these on a practical level, often involving a number of face-to-face meetings and audits, with ad hoc support to follow as required. People are starting to use products from fintech firms on an almost daily basis and this saturation of innovative products is changing the way the everyday person interacts with the financial world. It is this diversity and speed of innovation that is the most exciting but also provides the greatest challenges to stakeholders, as well as those companies that support it. Thistle’s fintech team’s goal is to help these innovative firms navigate the space with the confidence that they are in line with a complex and ever-evolving regulatory framework. Address: 80 Coleman Street, London, EC2R 5BJ Telephone Number: 0207 436 0630 Web Address: May19271 the compliance specialists