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ClearBank partners with Thistle Initiatives for compliance support

By Gloria Methri

December 11, 2023

  • AML Compliance
  • Clearbank
  • Clearing Bank

ClearBank, Embedded Banking, Financial Institutions, Thistle Initiatives, Regulatory, Financial Services, UKThistle Initiatives, part of the Thistle Group has partnered with ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, as its first client compliance partner.

ClearBank is a purpose-built, technology-enabled clearing bank. Through its banking licence and robust technology solutions, the company enables its partners to offer real-time payment and innovative banking services to their customers.

Thistle Initiatives, on the other hand, is a compliance consultancy for firms operating in financial services. Its experts operate in investments, payment services, FinTech, insurance and consumer credit. Thistle Initiatives’ full suite of services consists of acquisition due diligence, financial crime, applications, compliance support and audit and advisory.

As ClearBank’s partner, Thistle Initiatives will provide support on matters including, but not restricted to, FCA applications, compliance support, regulatory due diligence, and financial crime prevention. Additionally, Thistle Initiatives has been chosen by ClearBank as an approved AML compliance auditor for its clients.

Commenting on the strategic partnershipSophie Long, CEO of the Thistle Group said, “We have worked closely with ClearBank for several years and it is fantastic for the recognition of our partnership to be formalised under this agreement. Thistle Initiatives has supported financial services firms for over 10 years as a reliable compliance and regulatory advisor, and the partnership with ClearBank underlines our commitment to regulatory excellence, alongside providing bespoke solutions to a wide range of financial services businesses.”

Jennifer Heathfield-Lee, Head of Partnerships for ClearBank, said, “Sophie and the team at Thistle Initiatives have been very highly commended by several mutual clients in our work together. There are so many synergies to our businesses – not least of which is being innovative and putting the needs of our clients first and foremost. I am thrilled that we can formalise our partnership in this way.”

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