One of the positive outcomes of the recent financial crisis has been the increased opportunities for new entrants into the financial services market to break the stranglehold of traditional banks.
- Challenger banks have nearly doubled their share of the retail lending market including mortgages and unsecured loans in three years, from 4 per cent in 2010 to 7 per cent in 2013, (source KPMG).
- The exponential growth of peer-to-peer (P2P) lending and crowd-funding have shown how technology can be harnessed to channel finance to start-ups and charitable causes.
- Credit unions are taking advantage of the possibility of offering fixed rate savings products for the first time.
However, if you are offering financial services in the UK you face an increasingly complex web of financial services regulation which we can help you through. Forum offers specialist advice which will help you understand what the UK regulators require so that you can comply with the UK’s rules and deliver excellent customer service.
At Forum, we work with financial services providers committed to putting their clients first and developing products which best serve businesses and communities. We can assist you in ensuring the necessary steps are completed for regulatory authorisation and compliance.
At Forum, we also understand that the market for financial services is increasingly international. We are able to advise you on how to comply with existing and forthcoming EU laws such as MiFID II and the Mortgage Credit Directive.