Chief Executive newsletter - January 2025

In our first edition of 2025 we highlight our newly published report on generative artificial intelligence, key monthly economic insight and data, a range of consultation responses as well as upcoming events.

Supporting consumers and businesses

This week we held an event to launch our Generative AI in Action: Opportunities & Risk Management in Financial Services’ report, in collaboration with Accenture. The event featured a panel discussion, moderated by our Managing Director of Payments and Innovation Jana Mackintosh, and included speakers from Investec, Accenture, the Alan Turing Institute and the Bank of England on areas where generative AI is driving the most value.

We published our latest monthly economic insight looking at the key trends and events shaping the UK economy, as well as exploring if forecasters’ expectations of a gradual return to growth will materialise.  

Delivering a high growth economy

We welcomed the Prudential Regulation Authority’s (PRA) Executive Director for Authorisations, Regulatory Technology and International Supervision Rebecca Jackson to speak at our offices this week. In her speech, Rebecca covered the growth of prime brokers, emphasising the importance of liquidity risk, operational resilience, and counterparty credit risk management. 

This month we responded on behalf of members to a number of consultations. These included;  

  • the governments Pension Investment Review interim report and consultations. Our response is around four key themes relevant to UK Finance members, which cut across both consultations and the interim report.

Preventing economic crime

Ofcom’s Illegal Harms Statement was published in December, which highlighted online providers as now being legally required to protect their users from illegal harm. Following our advocacy in this work, the Dedicated Card and Payment Crime Unit (DCPCU), has been included as a trusted flagger for information sharing with platforms. It also included senior accountability for safety and better reporting and dedicated fraud reporting channels. We continue to work closely with Ofcom.

The DCPCU will be taking part in Operation Henhouse, a National Multi Agency month of enforcement activity in relation to Fraud and Financial Crime, taking place in February. This is being coordinated by the National Crime Agency and The City of London Police.

Transitioning to Net Zero

The coming months will see significant developments in the net zero transition, including: 

  • Parliamentary discussions on a new UK carbon budget up to the early 2040s, 

  • a new net zero strategy, 

  • the implementation of reporting regulations 

  • and the publication of the government’s Warm Homes Plan.  

We are working with the government and regulators across these issues, including feeding in evidence on reforms to home energy performance certification rules; the UK Green Taxonomy; and green elements of the Spending Review.  

In late January, we convened members for two detailed discussions with HM Treasury and the Financial Conduct Authority (FCA) on new financial services regulation for sustainability, where we discussed ways to design net zero transition planning rules so that financial services firms can best help customers to lower their contribution to climate change.

Upcoming events and training

With flexible online, in-person, and hybrid formats, our training opportunities offer something for everyone. You can access the full programme of training or if you would like help to book some training, contact us.

24 June - Digital Innovation Summit - Innovation for a Better Society 

Expect a day filled with thought-provoking discussions, insightful case studies, and opportunities to engage with leading experts shaping the digital landscape. Book your tickets and find out more information.

From our Annual Mortgage Lunch to exclusive conferences, and the highly popular Key Conversations series, our 2025 events schedule is packed with opportunities to connect, learn and lead. Register your interest today.

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