986: Insights: Getting the UK innovating again: A conversation with Colin Payne from the FCA

19:56How do we generate growth? It's no different to a product, really. The UK is a product, financial services. The regulation supports that. How do we drive forward? And that's the question we ask ourselves. So I bring lots of lessons, really. And I think some of the lessons which balance what I've worked on in the incumbents, I learned a lot of the blockers that were there through hard experience. you know and when you take an example i'll give you one example psd2 and open banking trying to transform banks to approach open banking in a way that's going to be beneficial there's so many lessons we learned along that route that route um and so many um swift entrance to the market came in and disrupted so let's learn from that as well um it's bring the lessons and be open and humble

20:42David Brear:yeah uh and then work on them how much do you find and and you know speaking out loud now of sort of my experience a little bit is like having worked in a big bank for six years, going and speaking to people in banks now, just being a bit empathetic, you know, like actually to your point, they feel that you've been in their shoes. Therefore, you know, you're not coming at it from purely a, you know, are you dumb and you can't do this? Or like, why have you not thought of this? It's like, we get how hard it is, but you're there to kind of create that change. That's quite a disarming thing, isn't it?

21:15David Brear:Particularly in very senior management. Yes, yeah. I mean, we've obviously got good networks. We've built that over the years as well. So there's a trust element in this as well. I'm also an open person. I'm transparent. I'm not going to create those kind of walls that sometimes exist between different organizations. We're innovators. So we're working together with the ecosystem. So for me, if I can't help the ecosystem thrive, then I'm not doing my job. Simple as that. So whatever I need to do to do that, I will do my very best. That's amazing. It's a collaboration in that sense, isn't it? It's going from white papers and publications to a dialogue in a real sense.

21:57David Brear:It is. It's also, I think, to an extent, there's a perception of parent and child relationship in regulation. That's been there for some time. And it's not our intent to be that. I think the intention is to be partnering. We start to, especially in innovation and technology, we're starting to talk about tech positivity as a principle. And that doesn't obviously mean just, you know, endorsing specific technologies or opening the door to everything. It's responsible. There's responsibility and sustainable innovation. But it does mean being positive with it and moving into it, leaning into it. I think that's important for us to do.

22:33David Brear:I mean, that's interesting as well, because obviously you've seen different regulators, not just different banks and different financial services providers, but different regulators all around the world sort of operating in different ways. Because as you say, some are, and the US regulatory system, completely different from here. And to your point, the sort of supervisory structuring and black and white book versus retrospective, it's different everywhere, isn't it? But fundamentally, it's sort of intent. What's the intent there? and actually building out systems that are collaborating for the better of the business, better the environment, better for the customer.

23:11David Brear:That's where good things happen. Well, that's it. I mean, you're focused on the consumer need, protecting the consumer. You don't want that harm to happen. And we are extraordinarily protective. It's interesting. I sit sometimes with FinTechs and actually, you know, it can be any firm that we work with or the wider ecosystem. And we will discuss how best innovation can play that part. Because in my opinion, authorization and supervision, the areas of the business have an extraordinarily tough and important job to control the perimeter and to protect that perimeter. And they've done an amazing job doing it.

23:46As growth is now focused on, you still have to do that job. It's still maybe more difficult. So actually what we've done in innovation is become closer to our friends in authorizations and in supervision. And the panels that I convene for innovation to discuss innovative firms include all of those guys on it. And it's really important they're there because they give me the perspective that I won't have. I mean, I've got blind spots like everyone and I need that help. And I think it's incredibly valuable.

24:16David Brear:Very good. All right. Well, lots of interesting backgrounds. to lots of, like, again, I didn't want to make this sound like an interview process that we were going through. You definitely got the job. It's awesome. And you're doing a really good job. But what we're going to do in the second part of this story is come back and give a bit more of an overview of what the steps are that the FCA is taking. That'll come right after the break. This episode is brought to you by Facebook. So you were scrolling on Marketplace, and there it was, the bike you'd been searching for. You sent a message, and it turned out the seller was super chatty, kind of funny, and an avid cyclist.

24:53David Brear:The next thing you know, you're in a cycling crew. Well, a community cycling group. The thing about Facebook, you might find more than what you're looking for. From a browse to a bike ride, this summer, find more on Facebook. This episode is brought to you by Google Chrome. You think you know a browser, but Gemini and Chrome, that's new. It can help you with practically anything on the web, like restoring a vintage motorcycle from a 50-page restoration block, or finally break down that long article you've had open for weeks. Gemini and Chrome is here for it. Ready to make anything online make sense?

25:28David Brear:There's no place like Chrome. Check responses set up required, compatibility and availability varies 18+.

25:37David Brear:All right, folks, welcome back to Fintech Insider, where we're chatting with Colin Payne, who is the head of innovation at the FCA. In the first half, we explored Colin's career journey and got into some pretty deep territory of the things that he'd done and the places that had been. Super interesting background, I have to say. And with that in mind, what we're going to do is start a little bit more about really where you think the industry's heading. I mean, even in prep for the show with the audio engineers for FinTech Insider, we were talking about use cases for chat GPT. So like AI is on the tongue of everybody right now.

26:10David Brear:you know earlier on in the year the fca made pretty big waves with the announcements of the supercharged ai sandbox talk to me a little bit more about what that is because that's um it's pretty market defining i wouldn't say even leading it's a very different place to go to particularly with the partnerships that have been struck so yeah tell me more okay i mean track it back to the ai lab because that's the origin of this the ai lab was launched in january we decided to go about things very differently i mean really rewrite the rule book so you're right it's defining. The team structured a lab to be able to spotlight firms to understand the use cases.

26:44So to your point, the first thing we want to do is ask a question, what's going on? You know, where's the gap? Classic gap analysis. And we did a spotlight on the industry, or the widest spotlight we could, and we asked for applications. We had a lot of applications, which we then selected what we believe were very instructive use cases. Now, obviously, the FCA doesn't endorse specific firms. That isn't our job to do that. But we can highlight great practice and allow ourselves to be a convener of some of those really good use cases. So that's how we learned. So we learned what's going on in the market in January.

27:20Immediately after that, we ran a sprint, a classic tech sprint, a classic with a twist. So this was the AI sprint, and we invited our policy colleagues with us. Again, this is a new So imagine bringing policy into the kind of work that innovation do. And it was a joint sprint, policy and innovation. It was phenomenal. I think we've had the biggest attendance of any sprint, 400 plus people. You know, Endeavour Square, our theatre there is very good. It holds 250. So we had two or three breakout rooms, but we had those convened brains in that one space. And we asked the challenging questions, you know, to your point, actually what the future is.

28:00What do we need to do as a regulator? to convene that future? What can we help with? And we got some brilliant feedback. And those sprint outcomes are always published by us, so they're always transparent. So they were published shortly afterwards. The amazing thing about it was, though, was the speed of policy feedback. So to be able to ensure there's a loop back into policy, to be able to give us the kind of clarity that we need to start talking to the firms more generally about, brilliant. Absolutely brilliant. Game-changing. We then replicated that with advice, guidance, boundary review. and that led to a two-month turnaround on consultation and now we've got targeted support.

28:36I mean, unprecedented speed.

28:38David Brear:I mean, and that is a topic. I mean, I think we could speak for about seven hours on that gap, you know, the advice, guidance, and actually what that means from a regulatory perspective because that's actually quite minutiae detail, isn't it? And actually having, God, I think I spent about 18 months of my life when I was at Lloyd's kind of looking at that. It's a difficult thing when you are dealing with predictive known end outcomes for customers, which is what obviously regulators are like. Consistency. But doing that in the AI space is quite a challenge. Exactly. You're moving to a deterministic sort of system.

29:15David Brear:Yeah. Black box. Exactly. It's not just a decision tree where you always end up at A or whatever. No, no, no. It's tough and it's variable. And it can come with the same inputs and different outputs. Yeah. We've got a lot to deal with at the moment. But testing it and making sure we had relevant brains who could give us that kind of information, sprint through those ideas, give some sort of basic guidance, that was the space we wanted to get to on the sprint. And it was awesome. It was also, we added to that with an input zone, so an online hybrid zone, which then gave us more and more power of the voice of our customers, really, the wider ecosystem.

29:52And what that led to was a really clear analysis of what we needed to focus on. and the methodology for focusing on it was the supercharged sandbox. So we felt that we can have choices of publishing papers, we can give guidance, we can do many, many things, but in innovation, you know, we love to experiment. We want to get our hands dirty. So let's supercharge our digital sandbox, which has been existing for two, three years already. So it's been well used already. It's been very successful actually, but it wasn't really fit for the purpose of AI. So what do you do? You go and speak to some people and you're going to speak to some partners.

30:27And that was what led me to speak to NVIDIA and ask them to consider that kind of partnership support for what we're trying to create. They heard the story, like we just explained. They were all in straight away. It took them less than 10 seconds. And we said, fine, let's do it. Let's get something spun up. And they said, why don't we announce something here in Tech Week? Let's make it something that everyone is interested in. Because part of it is ensuring the ecosystem and knows about it as well. And I think that's important. I mean, it may be marketing, but it's important PR marketing for the idea.

31:03100%.

31:03David Brear:Yeah. I mean, how do you go about making that type of thing happen? Because to your point, it's not coalescing people, agreeing around ideas, you know, with you. All the way through to, though, a partnership with somebody like NVIDIA to put that in place. That's something that hasn't really happened before. So that must have been quite difficult, wasn't it? I didn't find it difficult because, again, it's probably the principles that I explained that I've had before. I go into something without the baggage. So I don't really... My principle is we can do it. Sure. That's where I start. There's no reason not to do it.

31:40Sure. Let's just clear the blockers. Why not? So I went in naively. And we had honest conversations about it. And there was a joint feeling of importance around the idea. and we got government backing as well, which always helps. So very quickly, we had number 10 involved. And of course, that announcement by the Prime Minister and Jensen, having them on stage supporting what you're doing is critical for the UK, for us, and for all the firms that we're going to work with. It gave us that kind of lift. So I think anything's achievable. I won't accept that it isn't, and we had a deadline. So we did it.

32:18Just because it hasn't been done, right? Yeah.

32:20David Brear:What's the response since then? because obviously there was a huge sort of swell of interest and activity and everything that sort of came from that. And it seems to not just be, again, as you say, it isn't just a press release. It's a sustained level of effort. So what's happened since then? Yeah, so we opened the floodgates. We've had hundreds of inquiries, as you can imagine. And we opened the applications for the cohort, formally about three weeks ago, something like that. And it's open until the middle of August. so we're now consumed with measuring those applications and it's about a 200 % uplift on a normal application process so pretty busy and you've got a small army of people reading submissions because I imagine there's some complex stuff in there.

33:09Yeah there is, we've got a dedicated small army, it's a very very small army because we're not blessed with hundreds of people but we have got brilliant young minds who love this stuff And they're this amazing group of people who are technically capable and have a regulatory mindset. And we also bring in whoever we need to from our wider group, our division, and the wider across the FCA as we need to. But actually, we've been quite specific on what people should apply with. And so it makes the application process a bit more clear. We're not onerous. It's not like a standard multiple-page document.

33:46We want to get to the nub of the idea. And then when we're happy with the idea, it goes through a panel. Once they're in, we will close the cohort and then we'll be working with the cohort. But the applications range from systemic global players, all the way through some of the great names that we have always worked with, some of the really cool stuff that we know they do, plus some real surprises in there.

34:07David Brear:That's always been something I've been fascinated with, with the sandboxes, is just how broad the appeal is. Like you say, you've got gigantic global banks to 20 people startups that are doing something super interesting. Yes. I mean, we've got some that are one or two people. The appeal is, I mean, I think you've got to look at what the sandbox is offering. Because, you know, it's all very well saying you've got a sandbox. And I've been around the world, I've seen some sandboxes, and there's not so much of an environment, let's put it that way. We've got NVIDIA GPU. So we've got Serious Compute.

34:39We've got the enterprise systems that NVIDIA have given us, which are phenomenal, as you can imagine. We've built our own dev interfaces with Niowin. And, you know, the combination of those gives you a very strong platform just to start. But then we've added the synthetic data. We've got all the synthetic data sets, which are phenomenal.

34:57David Brear:I mean, that's always been an issue for any tech spring, right? Particularly from a regular across the world. It's like, actually, you know, you can develop systems, but unless the data is there to thoroughly test it, then are you, you know, are you seeing real behavior in the way that a customer would or fraudsters or whatever? So that must have been quite a big challenge just in itself, getting synthetic data. Yeah, yeah. Well, the hackathon I mentioned was the first data sprint. So I perceived that as a potential option for us in the future. I saw the value of it. It was crikey. It was brilliant.

35:34I'm pleased to say that's just ballooned. So when you talk about fraud, our fraud data set is phenomenal. We've got 20 ,000 synthetic people, customers. And 30 ,000 flags, transaction data coming out of our ears. I mean, you can really do good work with this stuff. But we're moving it now. We've just announced the Smart Data Accelerator as well. So we're moving through open banking, open finance, and already looking at smart data now as our data set. Because we think in the future, well, why wouldn't we be experimenting with other regulators? Number one, telcos, for example. They've got fantastic data.

36:10We should be sharing some of that, especially for fraud and scams, for example. I would the opportunities there are amazing. And this is, I guess this is why I'm in it. The opportunity to change people's lives and the macro and to save the consumer from harm, it's all in front of us. If we embrace the technology, use it properly and deploy it with firms, it gives them the opportunity to do it.

36:35David Brear:Yeah, well, and as you say there, I mean, things like GFIN and, you know, fraudsters don't have a tendency to stay in one place. So it's a global problem, a global responsibility at that stage, isn't it? So, I mean, that must always be quite an interesting conversation, though, sort of with things like GFIM, where you're, you know, every... Look, we can't agree on what type of plug we all should use, can we? So, like, actually agreeing on regulations are quite a difficult task, isn't it? But sort of stepping back from the things that are happening here to create, you know, networks to catch fraud networks is a very positive step, isn't it?

37:11I think so. I mean, for a long time, we've done lots of multinational work, IOSCO and FSB and others, and they're really valuable. So trying to get frameworks together that are consistent around the world. But as you say, that's really difficult. I mean, try and get, in my case, I had 96 regulators as members. Wow. We are... Register must be a real pain in the butt to take. Yeah, exactly. Are you in? But most of them, I mean, are very, very active and brilliant minds. So they're very keen to experiment. Again, so it goes back to that passion of why we're doing this. There is something difficult about getting a framework together because it's a huge amount of data over long periods of time.

37:53And you have to get precision over that. Something about agility, something about doing those kind of bilateral experiments or trilateral experiments, working with the likes of BIS, you know. There are those bodies that are brilliant at prototyping, getting that code spun up and shipping it. Yeah. And then they're testing the data.

38:12David Brear:And then is that where, because obviously, you know, when you've talked about what you're doing with NVIDIA, I mean, that's, there's the sandboxes that are sort of regulatory sandboxes. They are, you know, help, they support their conversations. But this is a technology sandbox, which is, you know, a fundamentally different thing, you know, and that's a very different stance for a regulator. Obviously, we've seen globally with India Stack and different things and blah, blah, blah, blah, blah. But actually doing that and having the consistency of how to implement those things, it's creating standards in a very different way than just what the rulebook says.

38:49Yeah, it is. It's a way of practically testing how it's actually going to come out. You can do safe, clean experimentation. Personally, I think with AI, the trajectory is on at the moment. If you continue as it is now, and we can see that there's no reason why it won't, the handling of data is going to be super critical. And we know how financial services data is. We know the quality of it. There's a lot of work to do there. There's a lot of work to do even with the regulators. You know, we've now created a machine-readable handbook. Fantastic step forward. One of the first in the world. The next stage, obviously, is a step more difficult.

39:25You know, there are lots of work we can do with agents. Internally, we're trying to look at all AI options, but we have to do it practically. We have to do these small experiments in safe conditions because that's really our responsibility to do that, to prove the case.

39:40David Brear:Yeah. Yeah. It's a, it's an interesting balancing actors, somebody who is there for innovation, sort of balancing innovation with risk. Like how do you, is that, is that as much an educational process as it is a step change, you know, cause it's not just about, okay, would we now do this or we now allow this? It's about getting, it's like, I always sort of say, uh, I mean, AI right now feels like the equivalent of like, uh, giving everybody cars that can go 500 miles an hour, And it's like, well, not everybody's capable of doing that. Probably nobody's capable of doing that. So let's start at 50, shall we?

40:13David Brear:And so almost like the speed limit's being introduced to what is needed to sort of gradually deploy this capability. Yes, that's a nice analogy. I hadn't thought of it that way, but it's a nice analogy. I think from our point of view, we are definitely looking at speed zones for obvious reasons. I mean, and I think the firms want to work with us on that. That's the thing. it's it's no one is interested in breaking all of these um barriers yeah then as you don't want to break the sound barrier necessarily it's about progressing through this and harnessing the tools like it always has done yeah i mean there's always been a new tool there's always been a new technology go back 200 years i mean this is not um entirely new as a model for us um so it's just faster and it's just more as you said the the the move from probabilistic to deterministic that's that's a challenge for everybody on any industry, especially regulated industries.

41:04David Brear:Well, and you say there's a sort of a good actors wanting to harness it, but obviously there's always, you know, fraudsters are always pretty innovative. So actually, you know, staying ahead of that to a certain degree from an industry perspective is important for people to know what to watch out for as well. It's really important. I mean, internally, we're obviously using technology, which is pretty advanced. So bringing the kind of pattern recognition in the system, we've deployed stuff this year that can bring the average pattern recognition from two and a half years down to months. So it starts to become actually very practical.

41:39And as you say, the bad actors versus the good actors, we support reg tech, sub tech, those areas of our industry, we are really focused on trying to help them. We're bringing reg techs into our digital samples all the time. We want to see what they're trying to do. how can we help them move faster?

41:56David Brear:Yeah, it's amazing how sometimes simplistic things can solve those problems. Like we found, you know, you can clone people's voices and you can clone people's faces and all of those different things. But, you know, there's a few banks out there have done, you know, if you're talking to us, it's not us type. And simple things like that, where actually it doesn't always need to be the most pleasing technology advancements that solve problems in fraud. No, that's exactly right. Sometimes it's just an easy solve. Yeah. It's amazing. I mean, we've had a position, I guess, in the UK, you know, post, God, like 2016, 2014, whenever it was, all of the changes were kind of happening.

42:35David Brear:And you've seen this from various different angles as being sort of a leader in this space. Probably, I mean, I'd say top three in the world, you know, for the last 15, 20 years, right? That kind of weighs a little bit on everybody's shoulders, I think sometimes in terms of the, almost the, you know, fantastic debut album, but what does the, you know, what's that third one looking like? The difficult album. Exactly. So, so it, but it feels like actually everything that's happened lately is really pressed through that. Like it, it's a, it's an amazing thing to see. It's not, I see you as a bit of a lightning rod for a lot of those changes that have happened, but, but it takes a massive team to make these things structured.

43:17David Brear:Like you say, there's government initiatives, there's things that are happening in the regulator, there's things that are happening in the Bank of England, there's, you know, things that are happening in all the banks, there's pressure from, it feels like the ecosystem's kind of getting its mojo back now, which is lovely to see, isn't it? I think you're absolutely right. I mean, and it's very kind of you to say as a lightning rod, but I mean that in a really positive way. No, no, no, I get it. I totally get it. I mean that in the, I can see the things that you've done from the experience that you've had with the banks and like say that empathy, but also how to structure communication really effectively, which, you know, I've always been a fan of.

43:52David Brear:I always know you're very good at that. But it goes beyond that in terms of the communication gets you a belief. It's the implementation that gets you the, and that's where I'm like, we're doing it. That's great. Momentum seems with us. I think you're right. I think that's a really good point as well. I think the execution on the back of what you're saying you do, the intent is there. I'm really lucky in that I have the backing of the ecosystem. I mean, there's no question the response to our, when I put a post up about the Nvidia thing, and the response was amazing. I mean, really, really genuinely.

44:29And from government, I've had nothing but support. In the FCA, as I explained, the strategy has been very clear. So not only is it kind of a supportive environment and a clear remit and a mandate for change, Working across, of course I come in and I'm to an extent countercultural. You know, I'm going to come into the FCA and I'm not a traditional risk-based regulator. Of course I'm not. My job is to innovate. But I'm also learning as well. So learning with your colleagues and learning with the ecosystem, that goes back to the humility, the transparency, authenticity. I will make mistakes, but they will be in a safe environment with the ecosystem, learning together, and that gives us the speed.

45:13You know, that allows us to move fast because it's, you know, it's about experimenting, learning fast failure and moving on.

45:20David Brear:Yeah. And how much, because, you know, obviously regulation and technology and all the things, but it feels like with what you've been able to achieve. And actually, I mean, how long have you been enrolled now? Seven months. I mean, it feels like so much longer because actually it feels like you're a bit of a Rosetta Stone. Like actually you can traverse big banks and fintechs and tech and, you know, we need to get into the music industry clearly as a finance industry. But being that sort of center point for translating between those different parties and doing it with a, you know, an element of empathy kind of breeds trust, doesn't it?

45:59David Brear:And often the trust of things is what gets you the permission to do the next thing, doesn't it? I think that's it. I think there's a certain element of openness as well. It's openness to the experiment. And as a regulator, I think when I've spoken to innovative regulators, they have that mindset and it's about a mindset. And of course, it goes back to your point about risk and innovation. These are different cultural mindsets, but they also have a real relationship because there's the risk of not innovating as well, of course. So if you choose not to do that, you're going to be in real existential crisis quite soon.

46:34So for us, it's about doing it safely, as I said, doing it responsibly, moving forward, moving fast.

46:39David Brear:Yeah. You must have, I mean, your mailbox must be inundated with, you know, it is the thing I think the regulator should have done and, you know, or do you know what the one thing you guys should do. Like, opinions are quite interesting, but dealing with that on a, like say, only been in for months and months, and I mean, it's been a fun job. I'm pretty envious, I have to say. I feel like from the outside, it feels like you're having fun, which is great. It's fun and demanding. It's more demanding than I anticipated. I mean, there is layers and layers of learning when you go into something like this.

47:13Not least when you're talking to everyone publicly. You need to be a little bit more measured in what you're thinking and saying. And that's something I've learned over the months. But it still gets down to a basic. It still gets down to if you're going in with the intent of being open and humble and delivering, you know, the delivery arc, we all know. We all know what that's like. And we all know we're going to learn together. Yeah. It's going to be speed bumps.

47:37David Brear:There's going to be problems. Of course there is. And with the inbound that I get, I do get a lot of inbound, of course I do. and I try to be as responsive as possible. I try to be as reasonable as possible and as open as possible. And I've been very fortunate, actually, that I've had very, I would say on the whole, there hasn't been any of the negativity that you might have expected and a lot of positivity and support to try and get stuff done because we're doing it together. It's kind of like you're just in it together, right? So what's the next steps then for the sandbox? So you say submissions are sort of piling in now.

48:08David Brear:When does that close? That closes middle of August. it'll be sifted there'll be themes created for the cohorts the cohorts will start in October so that's going to be really exciting it's a three month cohort standard traditional vintage cohort model which will give real I love that though personally I love the theatre that comes with that I do too it feels more regimented and a structure and a product so I'm a big fan of that yeah yeah good I think it's the right thing to do I think it'll give us a good set of answers for what we're doing. The themes emerging are really interesting. As you'd expect, you mentioned some of the ideas would be around agentic.

48:50And the advice side is important. So a lot of what we're thinking about is how far can we push AI and to be human on loop. Really interesting stuff is going to come out of this. I know that.

49:02David Brear:I mean, it changes really. We talk about the fabric of financial services. It feels like the barriers of what product or what type of business or all of those things are melting down when you've got capabilities that can traverse all of those. Yeah, yeah. Yeah, it's going to be fascinating. Really looking forward to seeing what comes out of it. Thank you. I feel like the sort of pitch day structure around it will be a thing of beauty. Yeah, well, you guys are going to come on, I'm sure. I mean, I would hope you're there. And hopefully we get a couple more percent on your movement towards the fabric.

49:32Dial it up a little bit, yeah. Sure, you know.

49:33David Brear:I don't know. Things are moving pretty quickly. But yeah, it's amazing to see. But amazing job so far in terms of what you're doing. I feel like when we sort of talk about that second, third tough album, you guys are doing a great job on that one. So we'll have to get you back and see what the live show's like. There's a whole bunch of other stuff that we will never have time to cover on this. But if you start to dial it into smart data, open finance, there are so many opportunities. We're now scratching on the surface of quantum. I mean, crikey, it's an interesting time ahead of us. That is, yeah.

50:03David Brear:Yeah, I think, again, there's a whole show just on the quantum computing sort of dilemma around how that works. But I mean, like you say, fraudsters are so able to harness these things before anybody else can do legitimately, aren't they? So it's going to be amazing to see. Well, Colin, thank you so much for joining us. Sadly, that is all the time that we've got today. So big thank you to Colin for joining me and talking a little bit about everything that's happening at the FCA. Colin, where can you find out a little bit more about you? LinkedIn's great. Yeah. LinkedIn's very easy for me. add to the pile of DMs that Colin's getting for requests of stuff.

50:37David Brear:As for me, LinkedIn is pretty much where you can find me most of the time. Thank you for listening, everybody. If you like what you heard, follow us on any podcast platform that you've got. Leave us a review. It really helps us make the show better, helps other people find it as well. If you do want to join the conversation, you can find us pretty much on any social media channel. Just search for 11FS or Fintech Insider or email us on podcasts at 11FS.com. Thank you very much for joining us, everybody. Goodbye.

51:05David Brear:You matched on Hinge. You're vibing. Then her energy completely changes. What do you do? I'm Raven Smith, and I wrote and read a real love story about this exact sitch. Listen to the free audiobook now. The right window treatments change everything. Your sleep, your privacy, the way every room looks and feels. At Blinds.com, we've spent 30 years making it surprisingly simple to get exactly what your home needs. We've covered over 25 million windows and have 50 ,000 five-star reviews to prove we deliver. Whether you DIY it or want a pro to handle everything from measure to install, we have you covered.

51:39David Brear:Real design professionals. Free samples. Zero pressure. Right now, get up to 40 % off site-wide. Plus, get a free professional measure at Blinds.com. Rules and restrictions apply.