Supporting consumers and businesses   

Earlier this month, we, alongside our members, and the Federation of Small Businesses (FSB), Small Business Britain, Enterprise Nations, and the National Association of Commercial Finance Brokers (NACFB), attended a roundtable with the Minister for Small Business, Gareth Thomas, to discuss the use of Personal Guarantees (PGs). Together with the NACFB, we were able to put forward a robust case for the importance of PGs in supporting access to finance for small businesses and the consequences of any introduction of restrictions on their use.   

Separately, the Department for Business and Trade published its annual Investing in Women Code report, with a launch event at the House of Commons, featuring speeches from our Principal, Commercial Finance, Jennifer Tankard and our Director, Economic Insight and Research, Lee Hopley, as well as the Chancellor Rachel Reeves. We are proud to be a delivery partner of the Investing in Women Code since its inception, working with member signatories to support female entrepreneurs. Find out more in our blog post from colleagues Lily Ellis and Jennifer Tankard.  

We attended a roundtable convened by the British Business Bank and the ADS Group, which represents the defence, security and aerospace sector. There was a wide-ranging discussion in which we shared our members support for defence firms and landed some key points on behalf of the sector:  

Our joint guide with the ADS Group on access to finance was flagged as an important initiative. This was a constructive meeting with the debate moving towards concrete steps the government can take to make it easier to lend to or invest in defence, and away from criticising financial services providers. 

At our Annual Mortgage Conference on the 9 July, we explored; upcoming mortgage market trends, the regulatory landscape, digital transformation, vulnerability and sustainability. We had a keynote speech from the Financial Conduct Authority (FCA) Head of Department, Retail Banking – Market Analysis and Policy Supervision, Sarah McKenzie, as well as a fireside chat between David Burton-Sampson, Member of Parliament for Southend West and Leigh, and our Director of Mortgages, Charles Roe.  

In this month’s Economic Review we look at: 

Enabling digital innovation  

This month saw the Bank of England’s Payments Vision Delivery Committee agree an innovative new model to deliver the next generation of UK retail payments infrastructure. It announced that it will publish its strategy in the autumn, which will reflect input from stakeholders across the ecosystem and align with the National Payments Vision’s pillars of innovation, competition and security.  

We support establishing a new industry-led delivery company and congratulate Vim Maru on his appointment as chair-designate. This will unlock investment into our payments infrastructure and support greater innovation in retail payments and the future of money, including digital and tokenised forms. You can learn more in this blog post by our Director of Payments Nuala Jackson. 

Transitioning to Net Zero    

Our advocacy for the industry on green finance has gathered pace in recent months. UK authorities are currently consulting on streamlined ESG disclosure standards for companies, net zero transition plan reporting requirements, and enhanced climate risk management expectations. UK Finance is a recognised lead in these areas: we ran targeted roundtables for members and the PRA; and were quoted in a recent government press release for a set of announcements focusing on the importance of proportionate regulation. As part of the Mansion House package, HM Treasury announced that it will not prioritise a UK Green Taxonomy – in line with the industry’s response to their call for input. 

As we look toward COP30 in Brazil in November, we have received confirmation that we will be appointed an official Observer to the UN climate negotiations. This is the result of a two-year application process. It puts us alongside major international organisations and allows enhanced access to advocate in the interests of our members and the green finance community at the global conference. 

Upcoming events and training  

The Economic Crime Congress 2025 is our industry flagship event dedicated to the fight against economic crime. This year, we’re focusing on collaboration in action, ensuring that government, industry, and civil society work together to dismantle criminal networks, share intelligence, and build a stronger regulatory framework. To celebrate summer, we’re offering an exclusive discount for the next 50 bookings for this premier event by using the code ECCSUMMER50 at checkout.  

Alongside this, our Annual Mortgage Dinner returns on 10 December and is the UK’s leading event for industry professionals. The dinner brings together over 400 senior figures to mark the sector’s achievements, hear from industry experts, and cultivate new relationships.  

Our Vulnerability and Consumer Duty Academy, starting on 2 October, is designed to empower you to put vulnerability at the centre of your customer service, improve outcomes monitoring and ensure compliance with FCA standards.  

Additionally, the Knowledge Hub, our new on-demand learning platform is launching this autumn. Register your interest today to stay up to date and join when it’s available. 

We also have several upcoming training courses starting in September, including our Failure to Prevent Fraud workshop on 2 September, the Managing the Risk of Outsourcing in Financial Services workshop on 3 September and Internal Capital Adequacy Assessment Processes (ICAAP) - Good-Practice Principles (Masterclass) workshop on 10 September.