TISA UK Market Research Report

Background

Overview

The Investing and Saving Alliance (TISA) is a not-for-profit membership organisation dedicated to enhancing the financial wellbeing of UK consumers. Established to collaborate with the financial services industry, TISA aims to deliver practical solutions and champion innovation for the benefit of individuals, the industry, and the nation. The organisation comprises over 270 member firms involved in the supply and distribution of savings, investment products, and associated services. Members include major investment managers, retail banks, insurance companies, pension providers, online platforms, distributors, building societies, wealth managers, third-party administrators, FinTechs, financial consultants, financial advisers, industry infrastructure providers, and stockbrokers.

Mission and Vision

TISA's mission is to improve the financial wellbeing of UK consumers by working collectively with the financial services industry to deliver solutions and champion innovation. The organisation envisions a future where consumers have access to secure, efficient, and sustainable financial services that meet their diverse needs.

Primary Area of Focus

TISA focuses on four key workstreams to support consumers and the UK financial services sector:

Consumer Protection: Safeguarding the best interests of UK consumers in their financial journeys.

Consumer Access: Addressing issues that could impact access to financial products.

Effective Products: Examining key considerations and legislation related to products across the investing and saving landscape.

Corporate Responsibility: Exploring issues that directly impact society, the environment, and the economy.

Industry Significance

As a leading industry voice, TISA plays a pivotal role in shaping the future of UK financial services. By collaborating with a diverse range of stakeholders, TISA influences policy, promotes best practices, and drives innovation to enhance consumer outcomes.

Key Strategic Focus

Core Objectives

TISA's strategic focus includes:

Developing and promoting consumer-focused initiatives.

Influencing policy and regulatory frameworks to support consumer interests.

Facilitating collaboration between financial institutions and FinTechs to drive innovation.

Enhancing financial education and literacy among UK consumers.

Areas of Specialisation

TISA specialises in:

Policy development and advocacy.

Technical support and guidance on regulatory matters.

Digital transformation initiatives within the financial services sector.

Key Technologies Utilised

TISA leverages various technologies to achieve its objectives, including:

Digital platforms for member engagement and collaboration.

Blockchain technology for secure data exchange (e.g., TISA Universal Reporting Network - TURN).

Digital identity solutions to streamline consumer access to financial services.

Primary Markets Targeted

TISA primarily targets:

UK consumers seeking improved financial wellbeing.

Financial services firms aiming to enhance their offerings and operations.

Regulatory bodies and policymakers involved in shaping the financial services landscape.

Financials and Funding

Funding History

As a not-for-profit organisation, TISA's funding primarily comes from membership fees and strategic partnerships. Specific details regarding total funds raised and recent funding rounds are not publicly disclosed.

Utilisation of Capital

The capital is utilised to:

Support operational activities and member services.

Develop and implement strategic initiatives.

Conduct research and policy analysis.

Organise events, training, and conferences.

Pipeline Development

Key Initiatives

TISA is involved in several initiatives aimed at enhancing the financial services sector:

Digital ID: Developing a federated digital identity system to enable secure and efficient consumer access to financial services.

TISAtech: A digital marketplace connecting financial institutions with over 3,600 FinTechs to foster collaboration and innovation.

TURN (TISA Universal Reporting Network): A blockchain-based platform for secure data exchange in the financial services industry.

Anticipated Milestones

TISA continues to advance these initiatives, with ongoing developments and collaborations aimed at achieving significant milestones in the near future.

Technological Platform and Innovation

Proprietary Technologies

TISA has developed several proprietary technologies, including:

Digital ID: A secure, consumer-controlled digital identity system for accessing financial services.

TURN: A blockchain-based platform facilitating secure data exchange in the financial services sector.

Significant Scientific Methods

TISA employs various methodologies, such as:

Policy analysis and development.

Technical support and guidance on regulatory matters.

Digital transformation strategies within the financial services sector.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, TISA's initiatives, such as TISAtech, leverage advanced technologies to facilitate collaboration and innovation between financial institutions and FinTechs.

Leadership Team

Executive Profiles

Carol Knight: CEO of TISA Membership Services and Company Secretary. With a background in financial services since 1998, Carol has held various roles, including Operations Director and Executive Director for TISA Exchange. She became CEO in January 2022.

Tony Stenning: Chairman of TISA. Tony is a Partner and Head of Liquid Alternatives at Downing LLP, with over three decades in financial services, including senior positions at BlackRock.

Julian Korek: Treasurer of TISA. Julian is Managing Director and Business Unit Leader, Compliance & Regulatory Consulting at Duff & Phelps, with over 35 years in financial services.

Jon Richmond: Business Development Director at TISA. Jon joined in November 2020, bringing over 20 years of financial services experience, including roles at ABG Sundal Collier and Nordea Markets.

Lisa Laybourn: Strategy and Business Management Director at TISA. Lisa has over 25 years of experience in financial services, with expertise in regulatory matters and operational resilience.

Mosa Zahed: Head of Public Affairs & Market Engagement at TISA. Mosa leads engagement with government, regulatory bodies, and the financial services sector, with over 15 years of experience in public affairs.

Henna Sadhu: Head of Marketing at TISA. Henna is responsible for marketing and communications strategy, with over 18 years in the financial services industry.

Leadership Changes

In January 2022, Carol Knight was appointed CEO of TISA Membership Services, succeeding David Dalton-Brown.

Competitor Profile

Market Insights and Dynamics

The UK financial services sector is characterised by a diverse range of institutions, including banks, insurance companies, pension providers, and FinTechs. The market is experiencing rapid digital transformation, with increasing emphasis on consumer-centric services, regulatory compliance, and innovation.

Competitor Analysis

TISA operates in a collaborative environment, working alongside various industry bodies and organisations. Key competitors include: