39. FinTech Awards 2023 Wealth & Finance Jun23349 Best Financial Services Compliance Advisory Firm 2023 Part of the Thistle Group, Thistle Initiatives provides advice and support to regulated firms and those on the journey to becoming regulated, across the UK and internationally. Working with clients across a range of financial sectors, the firm offers its services in a wide range of areas including acquisition due diligence, FCA applications, auditing, supervision and enforcement, and ongoing compliance support. Boasting a team of over 80, Thistle Initiatives’ staff of financial industry specialists, compliance officers, former regulators and lawyers strive to be much more than a compliance consultancy. Sophie tells us, “Our philosophy is to provide a world-class service with a hands-on approach that encompasses both problem-solving and a commercial focus. We’re proud to say we’re trusted by both the regulator and our clients.” The team provides compliance support to over 200 fintech companies in the investments, payment services, credit, mortgages and digital assets sectors. Clients include robo-wealth managers, fund managers, portfolio investment managers, stockbrokers, traders, banks and lenders, crypto asset firms, payment services providers, e-money institutions, credit lenders and brokers, plus many more. Sophie says, “The fintech sector has grown into a fast-paced industry at the forefront of evolving financial services products. Working with a diverse range of clients means we are familiar with the challenges of the market, allowing us to work closely with our clients to provide specialised advice and support. By assessing the available options we’re able to deliver customised services to each client based on their particular products and services. We consider the commercial goals of the business and look to map those against regulatory requirements.” Operating in a marketplace that’s constantly developing, Thistle Initiatives offers a flexible service tailored to fit businesses at all stages of development. The firm is committed to increasing its knowledge and range of offerings as the fintech industry grows and changes. We asked Sophie about the impact of Thistle Initiatives’ internal culture on the company, and she emphasised that culture plays a vital role in shaping their business. Thistle Initiatives prides itself on cultivating a culture of excellence that goes beyond just embracing new technologies. Sophie explains, “Our culture is centred on collaboration, support, and providing excellent support to clients, but it’s not limited to that. We believe in continuous learning, sharing knowledge, and striving to be market leaders. This commitment to excellence, along with our ability to tap into our collective expertise across the fintech spectrum has become a key part of our USP.” By understanding each client’s unique requirements and going that extra mile, there’s no doubt that Thistle Initiatives has carved out a unique place in the fintech market. We ask Sophie to tell us a little about what the future has in store for Thistle Initiatives. She says, “We want to continue to be at the forefront of the regulatory space. Fintech is becoming more and more important and the diversity and pace of innovation can be challenging for stakeholders. Our goal continues to be to help these innovative firms navigate the complex and ever-evolving regulatory framework with confidence.” As part of this overarching aim, Thistle Initiatives will be shining a spotlight on financial crime with the sector now headed up by Jessica Cath. Sophie says, “We put a strong focus on financial crime compliance. We support firms to navigate the complexities of regulations including antimoney laundering, anti-bribery, sanctions, counterterrorism, and tax evasion.” Sophie further explains “Firms are increasingly reliant on third-party providers for KYC, screening, and monitoring controls, often with little understanding of how these systems work and what they are checking against.” By championing industry collaboration, the dedicated financial crime team at Thistle Initiatives aims to provide a bridge between in-house compliance professionals and the reg-tech industry, to ensure these increasingly sophisticated tools are being used effectively. For further information about Thistle Initiatives and its services, please visit the company website. • Contact: Sophie Long (CEO) • Company: Thistle Initiatives • Web Address: www.thistleinitiatives.co.uk Based in the heart of the City of London, Thistle Initiatives is a multi-award-winning compliance consultancy. Founded in 2012, today the firm is one of the largest members of the Association of Professional Compliance Consultants (APCC) and has supported more than 1000 clients on their journey to becoming FCA authorised. CEO, Sophie Long, tells us more about the firm and its plans for the future.
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