Latest opinions that Nick Green has shared on Finextra

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Nick Green

Director

Purple Patch Broking Ltd

Member since

07 Dec 2020

Location

Stratford-Upon-Avon

View Nick Green's full profile

Nick's opinions

Financial crime assessment with perpetual KYC oversight

Economic crime costs have escalated to an estimated £290* billion annually. Compounding this issue, billions are believed to be laundered through the UK finance system every week. And that’s why there’s a renewed focus on Know Your Customer (KYC)—specifically continuously monitoring it. Knowing your customers is crucial for financial institutions ...

25 April 2024 /retail /crime Financial Risk Management

FCA and BoE data sharing changes: the impact on lenders

With the BoE and FCA’s renewed focus on improving data collection and sharing within the credit information market, the industry has rightly raised questions. What impact will these changes have on lenders? Do they really support market growth for the good of all? And what do lenders need to do to prepare? To find out more, for this article, we spo...

23 April 2024 /regulation /retail Banking

Monitoring financial crime services: Avoiding excessive bureau fees

Financial crime damages the trust and stability that the economy relies on. As criminals use more advanced technology, there's a bigger need for smart and quick action—extending far beyond regulatory adherence. And that’s where the bureaux come in. Bureaux play a key role—using powerful tools to analyse data and spot risks before crime occurs. The...

21 March 2024 /retail /crime Banking and Lending Solutions

Financial crime prevention: Credit provider's cutting-edge approaches

Credit providers understand the critical challenge with the rise of complex financial crimes, from cyber theft to money laundering. Criminals are using advanced technologies—the same ones that make digital banking possible—to break through security defences. In response, credit providers are forced to constantly modernise their approach to crime pr...

19 March 2024 /regulation /retail Banking

Reducing risk and spend during times of unpredictable inflation

Andrew Bailey is under pressure. While there’s been progress in getting UK inflation down, it’s too early to declare victory, just yet. If they cut interest rates too soon and too rapidly—they risk a resurgence of price pressures. If they wait too long—they could do unnecessary damage to the economy, consumer affordability, and labour market. At t...

15 February 2024 /regulation /retail Banking

FCA's latest Consumer Duty warning: A call for smarter credit data management

The FCA recently unveiled new consumer protection guidelines that signal a major shift in credit data management. These rules require financial services firms not only to meet formal compliance standards but also to proactively consider customer interests and welfare. In addition, the FCA simultaneously signaled that crowdfunding and peer-to-peer ...

13 February 2024 /regulation /retail Banking

Data contract flexibility: Benefits and strategies

Data contract flexibility makes a significant difference in how financial institutions respond to market shifts and manage spend. Why? Because with the right flexibility, institutions can align their contractual commitments with their actual needs and market conditions, leading to improved efficiency, cost savings, and a stronger competitive edge....

18 January 2024 /retail /crime Banking

Overcoming bureau lock-in and leveraging multiple data feeds

An emerging pain point many financial institutions grapple with is ‘bureau lock-in’ – over-reliance on a single credit reporting agency (CRA). This data dependency narrows perspectives to one view, restricting the firms to the costs and data quality of that one provider. Of course, this greatly impacts the comprehensiveness of credit risk assessme...

17 January 2024 /retail /crime Banking