ClearBank partners Thistle Initiatives

Friday 8 December 2023 15:17 CET | News

Thistle Initiatives, a division of the Thistle Group, has announced its partnership with ClearBank, a player in real-time clearing and embedded banking services for financial institutions.


ClearBank has selected Thistle Initiatives as its inaugural trusted client compliance partner.

In its role as ClearBank's partner, Thistle Initiatives offers support on various matters, including but not limited to FCA applications, compliance assistance, regulatory due diligence, and prevention of financial crime. Furthermore, ClearBank has designated Thistle Initiatives as an approved AML compliance auditor for its clients, acknowledging Thistle's leadership in the financial services sector and its unwavering commitment to excellence and precision in AML compliance.

Sophie Long, the CEO of the Thistle Group, comments on the strategic partnership, noting that the collaboration with ClearBank has a longstanding history. She emphasizes that formalizing the partnership through this agreement is a fantastic recognition. Thistle Initiatives has been a dependable compliance and regulatory advisor to financial services firms for over a decade. The partnership with ClearBank, according to Long, emphasizes their dedication to regulatory excellence and the provision of tailored solutions to a diverse range of financial services businesses.

Thistle Initiatives, a division of the Thistle Group, has announced its partnership with ClearBank, a player in real-time clearing and embedded banking services for financial institutions.

Jennifer Heathfield-Lee, Head of Partnerships for ClearBank, expresses enthusiasm about the partnership, highlighting that Sophie and the Thistle Initiatives team have received high commendation from several mutual clients. She notes that their businesses share numerous synergies, particularly in their commitment to innovation and prioritizing the needs of clients. Heathfield-Lee expresses thrill in formalizing the partnership in this manner.

About the companies

ClearBank functions as a technology-enabled clearing bank, utilizing its banking license and advanced technology solutions to facilitate partners in offering real-time payments and innovative banking services to their customers. It is authorized by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.

Thistle Initiatives, a part of the Thistle Group, is a well-regarded compliance consultancy that has earned multiple awards since its establishment in 2012. The firm provides guidance to regulated and unregulated firms globally and in the UK, with a team of over 70 industry specialists, compliance officers, former regulators, and lawyers. Thistle Initiatives focuses on various areas, including FCA Authorizations, Acquisition Due Diligence, Audits, Supervision, Enforcement, and continuous compliance advisory services for sectors such as Investments, Payment Services, Credit, Mortgages, Digital Assets, and General Insurance.

Thistle Initiatives places significant emphasis on financial crime compliance, assisting firms in navigating regulations related to anti-money laundering, anti-bribery, counterterrorism, and tax evasion. The firm's commitment to going beyond the conventional role of a compliance consultancy is evident in its philosophy, aiming to provide a service with a hands-on, problem-solving, and commercially focused approach, gaining trust from regulators and clients alike.

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Keywords: partnership, compliance, regulation, AML, financial crime, fraud prevention
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech