Rachel Hopkins

TSB New Zealand 's rollout of Confirmation of Payee is a fantastic milestone for both customer safety and the financial system's integrity. By ensuring that the account name entered matches the actual receiving account, this innovative tool reduces the risk of payment fraud and helps protect customers from scams. From an AML/CFT perspective, this tool not only helps prevent unauthorized payments but also strengthens systems against fraud and potential money laundering risks. By ensuring accuracy and transparency in payment processes, TSB is contributing to a more secure financial ecosystem while enhancing customer trust. This is a great example of how thoughtful, proactive measures can deliver significant benefits for customers and compliance alike. Well done to TSB and the wider banking industry for prioritizing innovation and safety! #scams #fraud #financialintegrity #tsb #newzealand

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Loving the Kenergy from one of our brilliant volunteers at BA Lufe 💙💚 I totally agree with what Kenny has said. I self-funded the BSC International Diploma in Business Analysis many moons ago and it opened a door into a job purely on this basis alone, because no one else in the team had the qualification (although I like to think there were other qualities my manager liked too!). As they say, “control the controllables” and organise your own self development!! Consider paying for it yourself if your employer won’t (depending on circumstances and benefits youlll get from the course). I’ve been told this week I don’t need to go on an ‘Agile Fundamentals’ course (which may be slightly true), but on the other hand, what’s wrong with a refresher? Or knowing how this organisation is applying it? So I’m doing it. And I’ve got a Product Owner course coming up soon too which will help reinforce my current role. What courses have you decided to do and why? Keep learning. Keep improving. #ba #balife #balife2025 #businessanalysis #businessanalyst #selfdevelopment #selflearning #keepimproving

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Digital transformation is at the forefront of many UK business priorities and the success of digitisation of activities relies heavily on the technology that supports it. A reliable and secure network connection is at the hub of any firm's success, especially SMBs who operate within margins where even the shortest of downtime is financially painful. To this end, the government has invested £40 million to achieve its planned extension of 5G coverage to all populated areas of the nation by 2030. But how can you company prepare for 5G to ensure you are in a position to make the most of it when it goes live? Find out here: https://heyor.ca/4eoUpa #TeleTech #5G #DigitalTransformation #Telecoms

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Current account customer satisfaction tables are often interesting! No major surprises here, as fintechs Monzo Bank, Starling Bank and Chase do well, as does Nationwide Building Society. With Virgin Money and The Co-operative Bank plc doing badly, I wonder how the takeovers by Nationwide and Coventry Building Societies will impact their performance?

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Business Owners: Remember Your Corporate Responsibilities! The recent ruling against former BHS directors Dominic Chappell and Lennart Henningson should serve as a stark reminder of the importance of corporate responsibility. Ordered to pay £110m to creditors, their failure to act responsibly led to BHS's collapse, affecting thousands of employees and leaving a significant debt. I meet many small business owners with a limited company who treat it like their personal world, where they think the rules don't apply to them. They neglect to pay staff pensions, can't pay suppliers, so they look for new suppliers (and increase the overall debt), or want to raise their personal income, so they take a bank loan out in the company's name, hoping the company will be able to repay it. All this goes against the directors' corporate responsibilities. Key Takeaways: Corporate Duties Matter: Neglecting responsibilities can have severe legal and financial consequences. Employee Impact: Over 11,000 jobs were lost due to mismanagement. Financial Repercussions: The directors are now liable for millions in compensation. Let’s learn from this and uphold our business, employee, and stakeholder duties. #CorporateResponsibility #BusinessEthics #Leadership If a company is in trouble, there are methods to deal with these troubles, but you must do it as part of your corporate ethical and legal responsibilities, and before the problems get out of hand.

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Helping businesses to meet their ambitions.

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This is your chance to have your say on all the UK FCA rules you think could be modernised... ICYMI The Financial Conduct Authority launched a Rule Review Feedback tool earlier this year and it is accessible at https://lnkd.in/eFJvzxcq . More information on how the tool works and what the FCA hopes to achieve is detailed on https://lnkd.in/eW29_Bnu . 😁 #CASS #dlt #digitalassets #custody #fca #regulation

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‼️‼️Finally, Umbrella Compliance (albeit through the back door… ) So as the government were busy with the budget they also announced an update on how they want to clean up Umbrella Compliance (I totally agree!!!!). The proposal from HMRC & Treasury to support compliant umbrellas by making agencies liable for any “shortfall” in PAYE/ NICs means now it is more important than ever to work closely with compliant, established, financial secure umbrella companies. Liquid Friday Ltd whole heartedly support the governments response and we are looking forward to working closely with other stakeholders to help shape the detail. More to follow. https://lnkd.in/ecPtjZWW. #umbrella #payroll #recruitment

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I'm grateful to be featured in The Fintech Times, discussing the FCA's recent action against Starling Bank! When #verification and #antifraud processes are overlooked in financial services, the risks aren't just commercial — they can damage customer trust and unfortunately leave them exposed. At Sumsub, we believe financial institutions can prioritize fraud prevention and security, without cutting corners, to protect themselves and their customers. Take a look at the full piece here: https://lnkd.in/ej4d4fKM

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Government strengthens Post Office Horizon IT inquiry with statutory powers The inquiry will now have the power to compel witnesses and demand evidence, with fines or imprisonment for non-compliance. From: Department for Business, Energy & Industrial Strategy, The Rt Hon Kwasi Kwarteng, Paul Scully and The Rt Hon Boris Johnson Published 19 May 2021 This was published under the 2019 to 2022 Johnson Conservative government The move will give the inquiry new powers to compel witnesses and demand documentary evidence. Parties who fail to comply with the new inquiry or take actions to hinder it could face a fine, imprisonment, or both. The inquiry’s Terms of Reference will also be changed to clarify that it can investigate the Post Office’s decision-making in pursuing prosecutions of postmasters. The decision was taken by the Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng and Minister for Postal Affairs Paul Scully, in light of the recent Court of Appeal judgment which saw 39 postmasters have their convictions quashed The inquiry’s overarching aims – to ensure the right lessons have been learnt and to establish what must change – will remain in place. However, in light of the Court of Appeal Judgment, its Terms of Reference will be updated to reflect this judgment and the need for an in-depth analysis of the events that led to the Horizon dispute. These issues went beyond those already considered by Justice Fraser in his 2019 ruling which was the basis for the current inquiry. Postal Affairs Minister Paul Scully said: The Horizon dispute has wrecked the lives of postmasters and their families – its impact cannot be overstated. We are determined to ensure something like this can never happen again, which is why we launched this inquiry last year to bring the failings around Horizon into the light. [Ed: There can be no cultural change without radical acknowledgement of the truth of workplace abuse] #Feelings #Emotions #Body #MentalHealth

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A new SME insights report by Dojo has revealed that an estimated 110,940 SMEs are at risk of going bust due to having no cash left to support business operations. Read more in this Credit Connect UK article here: https://lnkd.in/dVjPm3sc #CreditManagement #SME #Business #News

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what do you do towards achieving better performance in your world?

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The recent damning report by the All-Party Parliamentary Group on Investment Fraud and Fairer Financial Services heavily criticises the Financial Conduct Authority (FCA), describing it as "incompetent," "defective," and an "opaque and unaccountable organisation." The report, based on three years of testimony from 175 whistleblowers, former employees, and current staff, highlights the FCA's failures, including an overly close relationship with regulated firms, a culture that discourages challenges, and systemic delays in addressing issues. Despite the £320 million transformation plan launched by Chief Executive Nikhil Rathi to reform the FCA, the MPs deem the effort a "failure." They recommend creating a Financial Regulators Supervisory Council to oversee the FCA and suggest granting it powers to ban products immediately. The FCA has been a symbol of mismanagement for years, a fact openly acknowledged across the financial sector. Instead of fostering innovation and collaboration, it has become a bureaucratic judge and extortioner, actively stifling growth and discouraging entrepreneurs from establishing businesses in London. The sheer volume of complaints about its inefficiency is staggering. Senior leaders must be held accountable for this abject failure, not rewarded with high-profile roles elsewhere—such as Andrew Bailey, now Governor of the Bank of England, who oversaw four years of chaos at the FCA. This is yet another glaring example of "jobs for the boys," where positions are handed to insiders rather than those with genuine expertise and understanding of the financial sector. This culture of rewarding failure and protecting incompetence must end. https://lnkd.in/eedJNAXd

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Great to see that the need for FOS modernisation has been recognised by Ms Reeves in the Mansion House speech [https://bit.ly/4ftBzFB]. With FOS awards now up to a massive £350k, it is inconceivable that FOS can use adjudications by staff with no relevant qualifications, assessing the work of people who do actually hold the FCA-required qualifications and accompanying CPD. Over and above qualifications, experience is crucial in understanding the human behavioural process in advice and decision making. By example: we recently put forward a new client's previous complaint which was rejected by the network. At first advice the client had come away with a £200k Pru bond on 6% commission, a £10k invoice for 'full planning and investment explorations, and £400k in EIS and (get this) private company loan notes. Pru bond and loan notes - that's all an experienced adjudicator should need to see - try writing the client risk category to fit that. The FOS adjudicator did not uphold the complaint. He had joined FOS four years earlier from the restaurant industry. FOS - must do better, it's negatively affecting people's financial wellbeing. 😒

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There are several key challenges for Pensions Dashboards Technology, not least the raft of PDP standards to comply with. Paul Muir considers four key tech challenges here: #PDP #FinTech #Pensions https://lnkd.in/e-5WSmdV

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There are several key challenges for Pensions Dashboards Technology, not least the raft of PDP standards to comply with. Paul Muir considers four key tech challenges here: #PDP #FinTech #Pensions https://lnkd.in/e-5WSmdV

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Just some of the ways in which we help our customers do the right business in the right way.

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The Bank of England's Deputy Governor has said the UK is on the cusp of a technological revolution in finance. It's a trend we're seeing first-hand at The PHA Group, as we work with an expanding portfolio of payments clients around the globe. A recent blog here highlights the payment trends that will define 2024. In short, increased competition between big banks and challenger payment entities will trigger market consolidation. The goal for these challenger entities is ensuring they assume a sizeable market share and stand out from the competition. https://lnkd.in/eRZr92k6

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I had the pleasure of presenting at the L&G Data Festival in our Cardiff office, where I introduced the concept of a Business Event Mesh. Business Events are significant changes or occurrences within business processes. This innovative approach captures these Events on a Mesh and makes them available for next best action by triggering AI Agents. Introducing AI services anomaly detection is possible. These Events can also be treated as Data Products. It has the potential for transforming how we handle real-time data across the organization, providing real value in several key areas: Predicting customer lifetime value to sharpen targeted campaigns Speeding up claims registration to improve service levels Proactively managing and preventing customer churn Streamlining data deletion and archival and management processes Tracking customer interactions to deliver more personalized services Keeping policy details up-to-date in real-time It was amazing to see the excitement and dedication around how we’re using technology and data to shape our future and better serve our customers. A huge thank you to everyone involved in making this event such a success—I’m really excited to see where these innovations take us next! #DataMesh #BusinessEventMesh #Innovation #CustomerFirst #RealTimeData #FutureOfInsurance

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