PwC worked with the bank’s consumer credit project team to help them develop their application and the supporting documentation that was needed to gain full authorisation from the FCA. Our team was able to answer the bank’s queries along the way, in areas such as second charge mortgages and the Consumer Credit Act, giving them comfort that they were meeting all the requirements for the authorisation. We reviewed their RPB and provided feedback throughout the project both on the Plan and on its applications, before they were submitted to the FCA.
The client was extremely happy with the assistance we provided throughout the project and at the end of the process, felt comfortable with the supporting documentation they submitted. The FCA’s feedback was minimal and the bank is now waiting for final approval for its full licence.
We have continued to work with the bank since the success of this first project and we can see the relationship getting stronger in the future. Our FSRR team is currently working with them on a range of regulatory advice.