As the financial industry undergoes rapid transformation, modernising core banking systems is no longer optional -  it’s a necessity. With many banks still operating on legacy systems, some of which were implemented 30 to 40 years ago, these aging platforms, often heavily customised, struggle to keep pace with the demands of digital banking, real-time transactions, and seamless integration with fintech partners.

The PRA published the supervisory statement SS 2/24 in March 2024 where it set out the new rules and expectations for non-systemic banks and building societies. The proposed Solvent Exit exercise expects the firms in scope to make preparations for ‘Solvent Exit’ as part of their BAU activities. The crux of the regulation is: orderly wind down after returning or transferring deposits and cancellation of the Part 4A PRA permission.

Financial Services firms face global economic pressures, including fluctuating interest rates, geopolitical tensions, and stringent regulatory requirements. Rapid technological advancements like Blockchain and Generative Artificial Intelligence (Gen Al) add to the complexity of the landscape. To thrive, firms must set ambitious strategic goals, building on a foundation of operational excellence to innovate and remain competitive. It has never been more difficult for those in charge of operations to know where to place their bets. With this whitepaper we aim to simplify all of that.

Valentia Partners evaluates the challenges associated with implementing the Trading Activity Wind Down (TWD) requirements outlined in the PRA’s Supervisory Statement SS1/22 of May 2022, with a focus on meeting the regulation deadline of March 2025. We also explore enhancements for any potential post-implementation Book of Work (BoW); and suggest areas where regulatory forbearance from the PRA could be sought.

The FCA’s new Consumer Duty regulation has had a profound impact on the financial services market since it’s go-live in July-23. Valentia Partners takes a look at some of the challenges firms have faced since Day 1, what is required to implement effective monitoring and reporting processes, and how firms can future-proof procedures to ensure they act in the interests of their consumers in the future.

Valentia Partners Insurance Leader Justin Balcombe recently sat down with Jean Gazançon, the CEO of ARTE Generali - a division of Generali, to explore the intricate world of specialty art insurance. Their fascinating conversation spanned the challenges posed by climate change, transit risks to art, and highlighted the transformative impact of digitization and AI on art insurance, among other insightful topics.

Financial Services sector growth in Scotland is incredible. Valentia Partners is committed to supporting the continued growth and importance of Scottish Financial Services as a powerhouse of the UK economy!

Explore our latest spotlight in The Scotsman, where we delve into Valentia's dedication to the burgeoning Scottish market. Discover how we prioritise sustainable excellence and value delivery to our local clientele.

Valentia Partners takes a closer look at recent sustainability requirements that may have implications for Financial Services businesses and their clients. On the 28th of November 2023, the UK Financial Conduct Authority (FCA) published the Sustainability Disclosure Requirements (SDR). This policy aims to address risks of ‘greenwashing’ and enhance transparency across sustainable investments.

Entry Strategies for Traditional Firms.

Three tokenization solutions attracting investment.

Approaching the Consultation Packages.

Six indicators that signal the direction of digital asset adoption.

Environment, Social and Governance are a sometimes-uncomfortable juxtaposition of ideas. Collectively they speak to sustainability and catalyse change across the operating models of Financial Services business. Here we discuss how to engage, prioritise and deliver ESG-inspired change in Financial Services.

Financial Services customers will each have their own ideas as to how ESG should be factored into the service they receive. Standard customer journeys cannot accommodate this. We address what needs to change.

ESG is an industry changing opportunity to embrace sustainability and access new, long-term value pools. It’s also an enormous challenge for Data and Analytics capabilities.

Upcoming UK ESG regulation may be the most important shift yet for authentically sustainable finance.

The combined effects of climate change, socio-economic change, and the shift towards a more credit driven economy expose lenders to greater and more diverse risks than ever before. ‘ESG’ provides a framework that enables sustainability analysis.

Join us over the next 10 weeks as we reframe ESG.

At Valentia Partners we focus on making our workplace a more diverse and inclusive environment for everyone. Operating in a male dominated industry, we wanted to shine a spotlight on our women and enable them to tell their stories of success and what inspired them to pursue a role in Management Consulting. Below you can read more about Clementine’s experience.