SOLD OUT – The Challenger and Specialist Banks Landscape in the UK

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A vibrant new group of banking firms is emerging in the UK, typically described as challenger and specialist banks. While this is an exciting development in a well-established industry, the diversity and distinctiveness of these banks is not widely understood since it is too often assumed that these new banks are all cut from the same cloth, face the same market dynamics and have similar prospects.

To challenge these assumptions PwC has carried out research into these new organisations and customer perception. The research identifies a rapidly changing landscape with exciting potential, while highlighting the need to action to bring about a more diverse and modular banking market.

At this event we will share and debate these findings with you. In addition, Martin Stewart, Director Banks, Building Societies and Credit Unions at the PRA, will be making a keynote speech about the PRA’s approach to standardised credit risk.

Attendance is free for bank and public sector representatives thanks to PwC . They can register by clicking on the ‘Book now’ button on the right hand side of this page.

The registration fee for non-bank BBA members is £249 +VAT and for those representing all other organisations is £449 +VAT. To register please complete the form available here and send it to Sue Dow at

Speakers include:

  • Martin Stewart, Director of Banks, Building Societies and Credit Unions, Prudential Regulation Authority
  • Nick Lee, Head of New Banks, Prudential Regulation Authority
  • Steve Pateman, Chief Executive Officer, Shawbrook
  • John Lyons, Retail and Commercial Banking Leader, PwC
  • Martin Roets, Director, PwC


This event is open to press

Topics on the agenda include:

  • Who are you calling a ‘challenger’?
  • How new competitors are changing UK retail banking forever
  • The challenger and specialist banks landscape in the UK
  • Risk modelling for non-IRB banks

09:00 Registration and refreshments
09:25 Welcome

Eric Leenders, Managing Director, Retail and Commercial Banking, BBA

09:30 Chair’s opening remarks

John Lyons, Retail and commercial banking leader, PwC

09:40 Presentation: BBA-PwC research: Who are you calling a ‘challenger’? How new competitors are changing UK retail banking forever

Martin Roets, Director, PwC

10:10 Presentation: The Standardised Capital Approach for Banks and Building Societies

Martin Stewart, Director of Banks, Building Societies and Credit Unions, Prudential Regulation Authority

10:55 Panel discussion: Challenger and specialist banks landscape in the UK

Moderator: John Lyons, Retail and commercial banking leader, PwC
Usman Chaudry,
Head of Credit Risk, Tandem
Debbie Crosbie, Executive Director and Chief Operating Officer, CYBG
Kevin Hanley, Head of Innovation, RBSG
Nick Lee, Head of New Banks, Prudential Regulation Authority
Steve Pateman, Chief Executive Officer and Director, Shawbrook Bank

11:50 Chair’s closing remarks

John Lyons, Retail and Commercial Banking Leader, PwC

11:55 Close of the event

Martin Stewart

Director of Banks, Building Societies and Credit Unions, Prudential Regulation Authority


Martin is the Director of Banks, Building Societies and Credit Unions at the Bank of England’s Prudential Regulation Authority.   He joined the regulator in 2010 from the IFG Group where he was Managing Director of their expatriate financial advisory, tax advisory and asset management businesses operating in the UK, Europe and Australia.  For PA Consulting Group and in his own business, he has worked as an advisor to banks, building societies and insurance companies in the UK, Europe, Australia and New Zealand.  Across 11 years he held a series of roles for Yorkshire Building Society, including 6 years as a member of their Group Board.  Martin has a MEng in Chemical Engineering from Imperial College, London.

Steve Pateman

Chief Executive Officer, Shawbrook


Steve joined Shawbrook as CEO in January 2016 from Santander UK, where he was Executive Director and Head of UK Banking, with responsibility for building its SME franchise, running the bank’s Corporate, Commercial, Business and Retail Banking operations as well as Wealth Management.


Prior to joining Santander in 2008, Steve spent eight years at RBS, where he was CEO of Business Banking, Retail Markets and Managing Director of Commercial Banking and Corporate Banking, Corporate Markets.


Steve has a young family (as well as 5 grandchildren!) and in his ‘spare time’ likes to follow Everton (football) and Sussex (cricket); he enjoys music (most types), theatre, reading and taking the dog for a walk whilst also trying to stay in some form of shape at the gym!

Nick Lee

Head of New Banks, Prudential Regulation Authority


Nick has responsibility for the authorisation and supervision of new UK Banks within the PRA, at the Bank of England.  Nick led the 2013 work on reviewing barriers to entry in the UK banking sector and was instrumental in setting up the new approach to banking authorisation in the UK.  Since 2013, 23 new banks have been authorised in the UK, including a number of ‘digital’ banks.


Nick also has responsibility for the prudential supervision of new banks, including a number of well-known UK challenger banks.


During his regulatory career, Nick has supervised firms from a range of sectors in the financial services industry, including banks, mutuals, asset managers, hedge funds and advisory firms, covering both prudential and conduct matters.  Nick has also had extensive experience of working with both firms and regulators from around the world.  His work has taken him to Australia, the US, Israel and Europe.

John Lyons

Retail and Commercial Banking Leader, PwC


John leads PwC’s retail and commercial banking practice in the UK. He is also PwC’s EMEA financial services technology leader. He specialises in delivering large IT enabled programmes for UK and European banks mostly focusing on IT resilience.

Martin Roets

Director, PwC


Martin is a Director in Strategy&, PwC’s strategy consulting practice.  He is focused on strategy and digital transformation in retail and commercial banking, with experience in digital strategy and business model definition, design and deployment of new operating models and organisations, and design and management of large scale transformation programmes.

Kevin Hanley

Head of Innovation, RBS


Having joined in 2009, Kevin is now the Bank’s Director of Innovation. In this role Kevin is responsible for the Bank’s scouting and solutions delivery network around the world, including our corporate outpost in Silicon Valley and innovation hubs in Edinburgh and London. He leads the Bank’s innovation and Open Banking efforts ensuring the delivery of new services and business models that anticipate and respond to changing customer needs and regulatory demands.


Prior to joining the Bank, Kevin was the Head of Services within ABN AMRO with responsibility for all Technology, Operations, Property and Procurement Services across the Group. During his time with ABN AMRO Kevin held a number of senior positions including being the Services COO and leading the Operations Strategy and Change function.


Prior to his time at ABN AMRO, Kevin was a Partner in Accenture’s Global Capital Markets practice based in London. Kevin led the UK Capital Markets strategy practice during his time with Accenture and was the client partner responsible for overseeing all of their work at a number of leading institutions, including being the ABN AMRO client partner for over 5 years.


He has over 25 years industry experience having worked at many different financial institutions in Europe and the United States of America.


Prior to joining Accenture, Kevin obtained a Bachelor of Arts degree from Cambridge University.

Debbie Crosbie

Executive Director and Chief Operating Officer, CYBG


Debbie has broad experience and knowledge gained over 20 years in the banking sector, particularly around information technology, complex project delivery, material outsourcing and strategy & planning. She has significant experience at a senior management level and is a strong advocate for customers and improving the customer experience by driving a change and transformation journey which has the customer as its core focus. Since joining the Group in 1997 Debbie has held a variety of positions including Head of Technology Governance, Head of Strategic Projects and Head of the Group’s Development Centre. She was Chief Information Officer from 2008 to 2011, she became Operations & IT Director in 2011, was appointed Executive Director in 2014 and Chief Operating Officer in 2015. Debbie was Acting Chief Executive Officer from February 2015 to June 2015 and during this period led the preparation for the demerger and IPO from NAB and was part of the management team who completed the transaction. She was previously a Non-Executive Director of the Scottish Court Service and is a Fellow of the Chartered Institute of Bankers.

Usman Chaudry

Head of Credit Risk, Tandem


Usman Chaudry, is responsible for Credit Risk Management and Enterprise Risk Management at Tandem. Tandem is a new digital bank. One that puts customers first and actively helps them enjoy a better life with their money.


Prior to Tandem, Usman worked at KPMG, primarily advising banks on risk & regulatory matters. Previous to this he was at Barclays and GE Capital for over 10 years, helping startup, manage and optimise their consumer business across EMEA from a risk management perspective.


He started his career at FICO in 2003, where he used analytics to drive better business decision, and has since pursued his passion on the intersection of technology, risk management and banking to empower customers.


Usman has a PhD in Computational Chemistry from The University if Manchester – combining quantum theory with artificial intelligence to accelerate drug discovery.

Eric Leenders, Managing Director, Retail and Commercial Banking, BBA

Eric Leenders

Managing Director, Retail and Commercial Banking, BBA


Executive responsibility for all retail conduct matters, including payments, credit, general insurance and savings across commercial, retail and private banking portfolios: Accountable to Retail, Bunsiness, Private Specialist and new/ challenger bank CEOs for development and delivery of sector specific strategies.


Active senior-level engagement with EU and UK politicians, regulators, consumer advocates and policy makers on a range of issues to rebuild trust, champion growth and support consumers.

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