We’re proud to see Monument Bank be part of the first cohort of the PRA and FCA’s Scale-up Unit. As they continue building Monument Bank for the mass-affluent, this is a valuable opportunity to work closely with our regulators and share learnings with other firms navigating the same regulatory landscape. The financial services sector is evolving rapidly. This structured support will help us accelerate innovation and scale with confidence. Thank you to the PRA and FCA for bringing the cohort together.
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit. The Scale-up Unit, which was announced last year, is designed to build stronger ties and provide tailored support for fast-growing and innovative financial firms, helping them to grow at pace while remaining sustainable. The six firms are: Allica Bank, ClearBank, Monument, Nottingham Building Society, OakNorth, Zopa Bank Charlotte Gerken, Executive Director for UK Deposit Takers at the PRA, said: “Welcoming the first cohort to our Scale-up Unit is an important milestone. It shows our commitment to helping firms grow in a sustainable way that benefits the financial services sector and wider economic growth.”
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