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Turning Regulatory Hurdles into Competitive Advantage: How Startups Can Leverage Compliance for Growth
Navigating the regulatory landscape presents significant challenges for startups. However, embracing compliance proactively can transform these challenges into strategic advantages, enhancing credibility and attracting investment. Written by Claire Conby, Finnovation UK, and Dr Louise Beaumont, Global Industry & Policy Engagement at Mastercard, this article was inspired by their conversation on the Innovation Stage during a panel about Regulation and Innovation at Pay360 on 25th March 2025.

FCA's Support for Innovation and Spotlight on the Sandbox Initiative
The UK’s Financial Conduct Authority (FCA) is playing a pivotal role in fostering financial innovation while maintaining regulatory oversight. This article explores how initiatives like the Regulatory Sandbox, Digital Sandbox, and Innovation Pathways help startups and established firms test new financial products in a controlled environment. It examines the benefits and challenges of the FCA Sandbox, compares alternative routes to becoming a regulated UK financial business, and highlights how firms can navigate the evolving post-Brexit regulatory landscape to drive fintech growth.

Stablecoins in the UK: The tax consequences…
Stablecoin regulation is a priority for the UK government and is addressed within the FCA cryptoasset roadmap that was published late 2024, with plans for discussion and consultation papers during 2025 with a view to a defined regulated framework in 2026. The regulations will hopefully provide clear definitions and clarity for businesses looking to operate in the UK from a legal perspective with a drive to wider adoption in the UK - but what about the tax implications?

FCA Regulatory Licence Application Process
The FCA is the UK’s financial regulator, responsible for authorising firms providing regulated financial services, including e-money institutions and cryptoasset exchanges. This article outlines the FCA licence application process, from determining whether authorisation is required to preparing and submitting an application. It highlights key considerations such as the regulatory perimeter, available exemptions, and alternative routes like appointed representative arrangements. The process typically takes 9–24 months, requiring firms to demonstrate compliance with regulatory standards, governance, and financial requirements. Preparation is crucial, including robust policies, systems, and controls.

Strategic Planning for Launching a Regulated Business
When pursuing a regulatory licence, the journey is often longer, more complex, and costlier than anticipated. With less than one in eight Virtual Asset Service Provider (VASP) and Payment Service Provider (PSP) applications succeeding, the key to success lies in meticulous preparation, clarity, and honesty. This article outlines an eight-stage approach to building a regulated business, from defining your value proposition to achieving profitability. It highlights the importance of strategic planning, resource allocation, and regulatory readiness—ensuring your firm not only secures authorisation but thrives in the competitive landscape.

Why the FCA Values Non-Executive Directors: Guardians of Governance and Compliance
In our previous articles, we explored the critical importance of board governance. Simply put, a strong governance framework is vital for any regulated institution, serving as the foundation for well-structured and compliant operations. Here, we focus on the role of Non-Executive Directors.

The Importance of Getting Board Governance Right in Fintech Startups
In the highly competitive and rapidly evolving fintech and financial services sectors, effective board governance is crucial for startups. Doing the right thing, the right way, from the outset. These industries are subject to stringent regulatory oversight, complex compliance requirements, and high levels of scrutiny from investors and consumers. Strong board governance not only ensures legal compliance but also fosters trust, attracts investment, and supports sustainable growth. For fintech and financial services startups, being well organised with strong governance is a strategic imperative that can mean the difference between success and failure.

Part Three: The Case for APP Fraud Insurance
Part three of our APP Fraud mini-series tackles a pressing concern for Electronic Money Institutions (EMIs) as mandatory APP fraud reimbursements come into force on October 7th, 2024. With these new rules, EMIs face increased financial risks, needing to promptly compensate victims or share reimbursement costs as a receiving institution. This article explores how APP fraud insurance could offer a lifeline, helping EMIs manage these obligations. Discover the financial impacts of the new regulations, the potential benefits of fraud insurance for mitigating losses, and practical steps to implement an effective insurance strategy. This deep dive provides essential insights for EMIs preparing for the regulatory shift.

Part Two: Strategies for EMIs to Protect Against APP Fraud
As Finnovation.UK continues its mini-series on the new APP Fraud Reimbursement rules, we turn our attention to further exploring the impact of these changes on Electronic Money Institutions (EMIs). In 'Part One', we discussed the unique challenges EMIs face under the new mandatory reimbursement requirements that will take effect on 7th October 2024. Building on that foundation, 'Part Two' delves deeper into strategies EMIs can adopt to protect themselves and their customers amidst these evolving regulations.

FCA Registrations: Uncovering the Pitfalls for Crypto Firms
The FCA’s latest report reveals a striking statistic: over 87% of crypto registration applications were either withdrawn or rejected due to weak anti-money laundering (AML) controls. With only 44 firms out of 350+ applications gaining approval, the message is clear—UK regulators are setting high standards, especially around consumer protection and AML compliance. This article uncovers the key reasons behind these failures and offers actionable guidance for crypto firms on how to strengthen their applications.

Payments Consulting Network: Q&A with Claire Conby from the Digital Pound Foundation
In this pre-event interview with Martin Wallraff, Director at Payments Consulting Network, Claire Conby discusses her career path, the current focus of the Digital Pound Foundation, challenges for the introduction of a digital currency, her favourite use cases and potential benefits for the UK Treasury.

Part One: APP Fraud Reimbursement Rules - Key Considerations for EMIs
In the digital era, Authorised Push Payment (APP) fraud has become a significant threat to consumers and financial institutions alike. With APP fraud losses reaching £459 million in 2023, the Payments System Regulator is set to introduce Mandatory Reimbursement Rules on October 7, 2024. These rules aim to provide stronger protections for consumers and ensure fair compensation for victims. For Electronic Money Institutions (EMIs), these rules pose new challenges and risks, especially when dealing with agent banks and distributors. EMIs must enhance fraud protection measures to mitigate financial risks associated with these mandatory reimbursements.

Regtech and insurtech team up to tackle the UK’s £459m APP fraud challenge
At Finnovation.UK, we are proud to highlight our collaboration with Green Swan Compliance and Elmore Insurance Brokers. Our founder, Claire Conby, played an instrumental role in refining the innovative APP fraud reimbursement insurance product through a series of focused workshops.

Currency Research Podcast: Digital Currency Use Cases
We had the pleasure of engaging with Claire Conby, the Executive Director and Operations and Innovation Lead at the Digital Pound Foundation. Together, we explored the cutting-edge developments in payment innovation and technology, with a special focus on Central Bank Digital Currencies (CBDCs) and the pivotal role of the Digital Pound Foundation.

Claire Conby joins Digital Pound Foundation’s Board of Directors as it enters next phase of growth
Join the Digital Pound Foundation in welcoming Claire Conby as she joins the Board of Directors. With her extensive experience in payments innovation and digital currencies, Claire will drive the Foundation's next phase of growth alongside fellow directors from Markets Evolution and Ripple.

Innovation vs Access to Cash: Priorities for a Retail CBDC
On a panel about digital money's future in 2024, I highlighted the need for Central Bank Digital Currencies (CBDCs) to offer compelling use cases to encourage public adoption, emphasising the balance between innovation and choice, especially for those reliant on cash in an increasingly digital economy.

The Role of a Digital Pound in Promoting Sustainability
Discover how a digital Pound can enhance sustainability efforts in the UK. The Digital Pound Foundation explores the role of digital currency in promoting eco-conscious practices, including supporting the circular economy, efficient resource usage, and streamlining grant disbursements. Learn how technologies like blockchain, IoT, and smart contracts can integrate with a digital Pound to drive environmental and financial benefits for individuals and businesses. Explore key use cases and innovative solutions that a digital Pound offers for a sustainable future.

Digital Currency Glossary
Unlock the world of digital currencies with the Digital Pound Foundation’s comprehensive glossary. This resource, created in collaboration with leading financial and technology organisations, demystifies terms related to distributed ledger technology, digital currencies, and the broader digital currency ecosystem. It aims to enhance understanding for policymakers, stakeholders, and market participants, supporting the UK's leadership in the digitisation of financial services. Explore key definitions and concepts crucial for navigating the evolving digital money landscape.

CBDC: an opportunity to re-think AML regulations?
Explore how Central Bank Digital Currencies (CBDCs) can transform Anti-Money Laundering (AML) regulations. This Digital Pound Foundation article discusses the structural challenges in current AML practices and proposes a new model where independent Compliance Services, rather than Payment Interface Providers, manage AML efforts.

From NFTs to Smart Contracts: The Digital Pound’s Role in Modernising Car Purchases
Learn how the Digital Pound can revolutionize car purchases by integrating NFTs and smart contracts. This article from the Digital Pound Foundation explores how digital money can enhance transparency, security, and efficiency in car transactions. Discover how tokenization, smart contracts, and programmable payments can streamline processes from purchasing and financing to servicing and resale, providing benefits such as real-time settlement, secure ownership transfer, and automated warranty claims.
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