Cosegic

🎉 Celebrating Our Winning Spirit Award Winners! 🎉 Congratulations to Bernie McDevitt and Stephen Roberts on winning our Winning Spirit Award—a recognition truly deserved! Our Winning Spirit Awards are designed to celebrate and highlight the fantastic hard work carried out by individuals across the business. Every quarter, we look for nominations to recognise outstanding contributions or achievements from our team members, and this quarter we are very pleased to be handing this award to both Bernie and Stephen. Here’s what their teammates had to say: “To Bernie, it comes naturally, and she does it all with a smile. Without her, Cosegic’s light would be slightly dimmer.” “Stephen always makes time for his team. A great role model, leading with enthusiasm, tenacity, and attention to detail.” Bernie and Stephen, thank you for all that you do—your hard work and spirit don’t go unnoticed! #WinningSpirit #Teamwork #Leadership #Recognition #Compliance #Cosegic

We’re excited to announce that our Payments Forum Video Library is now live! On January 29, 2025, we brought together leading experts in the payments industry for a day of insightful panel sessions, thought-provoking presentations, and invaluable networking. From emerging trends to regulatory updates, the discussions were packed with knowledge and innovation. Whether you joined us on the day or couldn’t make it, you can now access all the sessions and presentations at your convenience. We were delighted to welcome speakers from across the industry, including Edward Vincent, John Burns, James Borley, Jennifer Cahill, Jaspreet Kaur, Stefan Babic, Max Savoie, Hannah Van Ross ACA, Nike Shoge, BA Hons FCCA IRMCert, Matt Lucas, Hugo Thorp, Chris Merchant, Jimmie Franklin and Tony Craddock Watch now! 🎥https://lnkd.in/eFhPc6cZ #PaymentsForum #Fintech #PaymentsInnovation #Compliance #Cosegic #PaymentServices

The FCA has set out its latest strategy for supervising Claims Management Companies (CMCs) in a newly issued Portfolio letter to industry CEOs. Since taking over regulation of CMCs in 2019, the FCA has seen a decline in the number of firms and a rise in lead generators, now making up over half the sector. While standards have improved, the FCA has identified key areas where firms are still falling short. In this article, Will Khammo - Senior Consultant, Insurance, explores the FCA’s key priorities—tackling misleading advertising, ensuring proper customer sourcing, and holding firms accountable for their regulatory obligations. With Consumer Duty at the forefront, the FCA expects CMCs to provide fair, transparent, and high-quality services. Read the full article here https://lnkd.in/eaFwD6NS #Insurance #Regulation #ConsumerDuty #CMCs #Compliance #Cosegic #FCA 

Last week, we unpacked the FCA’s recent Dear CEO letter and its emphasis on risk tolerance, safeguarding changes, and APP fraud. But there’s another key aspect that may have slipped under the radar—the FCA’s reminder on head office requirements for UK-authorised PIs and EMIs. The FCA has reinforced its view that firms should have meaningful central management and control in the UK. In practice, a few high-level principles can help firms demonstrate this: 💼 The CEO and key decision-makers should be primarily based in the UK 🤝 Board meetings must be held in the UK 💡 Operational decisions must be made within the UK 🏛️ Clear outsourcing agreements should be in place, even for intra group arrangements In this article, James Borley - Managing Director, Payment Services discusses these principles, and whilst they aren't new—they date back to the Post-BCCI Directive and remain fundamental to regulatory supervision. However, many firms (both UK-authorised and overseas entrants) may not be fully aligned. James highlights that when seeking FCA authorisation, firms must demonstrate compliance with these expectations—not just assume they’ll pass scrutiny. And, importantly, they should be maintained throughout the firm’s authorisation. Read the full article here https://lnkd.in/eS9x6Txx #FCA #Payments #Regulation #Compliance #Fintech #Cosegic #PaymentServices

We're excited to partner with Clear Junction for this timely webinar! With the DORA deadline just behind us and UK operational resilience on the horizon, this session is a must. Hosting the webinar are two leading experts in the field, Teresa Cameron FCT, CGMA, and John Burns, who will share their valuable insights. Don't miss this opportunity, register now using the link below. #DORA #OperationalResilience #PaymentServices #Compliance #Cosegic

Yesterday, the Cosegic team came together in Hitchin for one of our quarterly Company Days! These sessions are always a great opportunity to connect, share insights, and align on everything happening across the business—from reflecting on the past year to planning for what’s next. With team members from different locations all in one place, it’s a chance to catch up, collaborate, and strengthen relationships. And of course, we wrapped up the day with some food and drinks to unwind and celebrate our shared successes! Here’s to another great Company Day! #CompanyDay #Collaboration #Culture #Cosegic

As expected by many, the FCA yesterday issued its latest ‘Dear CEO letter’ to the payments portfolio. Whilst much of the content should be familiar to firms, picking up directly from the previous letter issued in March 2023, there is much more in way of explanation coming from the FCA. In this article, James Borley – Manging Director of Payment Services, unpacks the FCA’s message, including its stance on risk tolerance, the upcoming changes to safeguarding rules, and its growing emphasis on APP fraud. In addition to highlighting to firms those areas where improvements still need to be made, the letter provides helpful context regarding the FCA’s role in supporting the National Payments Vision, and how compliant and well-run firms are key to that. As ever, there is the veiled warning at the end: we expect you to deliver on these priorities, and will be coming to check! Read the full article here: https://lnkd.in/ecZU3wiy #Compliance #FCA #Cosegic #PaymentServices #APPFraud #ConsumerDuty #FinancialCrime

AI is revolutionising the way banks and payment firms detect fraud and ensure compliance. In a recent piece by The Payments Association, Rabih Z. - Senior Consultant at Cosegic, shares how AI-driven innovations—like real-time analytics and generative AI—are transforming risk monitoring and fraud prevention. As Rabih highlights, the key to success is not just technology but also equipping teams with the right training to spot fraud effectively. Read the full piece from The Payments Association below. #Cosegic #Compliance #ThePaymentsAssociation #PaymentServices #Fraud #AI

🎉 What an incredible afternoon at the Payment Services Regulatory Compliance Forum! 🎉   We’re wrapping up an inspiring day with James Borley, John Burns, Jimmie Franklin and Tony Craddock discussing what 2025 looks like for payments in our final session ‘Horizon Scanning’. We’d like to thank all of our speakers, panellists, and attendees for making this event a true success. From exploring critical compliance challenges to uncovering innovative solutions, the level of expertise and collaboration today has been truly remarkable.   To close out, we’ll be celebrating with some delicious canapés and drinks, reflecting on the great conversations and the valuable connections made.    #Cosegic #Compliance #Regulatory #Networking #Payments #Paymentservices #Fintech #Innovation

Our Payment Services Regulatory Compliance Forum is in full swing!   The energy today has been amazing as our expert panelists dive deep into key issues facing the payments industry. Safeguarding has been a key topic as well as Operational Resilience, DORA and Consumer Duty - James Borley, John Burns, Max Savoie, Edward Vincent, Hannah Van Ross ACA, Nike Shoge, BA Hons FCCA IRMCert, Matt Lucas, Hugo Thorp, Chris Merchant, Stefan Babic.   Our participants are actively engaging, sharing insights, and making valuable connections.    Stay tuned for more updates as we head into our next session!   #Compliance #Regulations #Payments #Fintech #Networking #IndustryInsights #Cosegic