E93: Who really controls the $22 trillion shadow banking system?

In the world of financial services, a banking license is like the Holy Grail – key to unlocking powerful capabilities like holding deposits, lending, managing mortgage books, and more. But, there are numerous trials and hurdles standing in the way of obtaining it. And once you do, what about the criminals ready to exploit your shiny new licence? Our expert host, Marit Rødevand is joined by Emma Hagan , soon-to-be UK CEO of Clearbank . The pair discuss: the hurdles for compliance teams of the application process, what happens once you get a UK banking licence, and what new financial crime risks do you open yourself up to. Producer: Matthew Dunne-Miles Engineers: Dominic Delargy and Nicholas Thon.