Full-Time
Financial Crime Compliance Specialist
Capital on Tap
501-1,000 employees
SME-focused business credit cards & funding
No salary listed
London, UK
Hybrid
Hybrid role; 3 days on-site per week at London (Moorgate) office.
 Legal & Compliance (1) |
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- At least 3 years operating in a 2nd line financial crime or AML compliance function within a regulated UK financial services firm, particularly focusing on Business customers.
- Demonstrable experience designing or running a compliance monitoring or control testing programme - not just participating in one.
- Strong working knowledge of the UK Money Laundering Regulations 2017, JMLSG guidance, and POCA - applied in practice, not just in theory.
- Experience contributing to or owning a financial crime risk assessment at a business or product level.
- Ability to review Suspicious Activity Report quality and challenge 1st line decision-making - SAR writing experience is useful context but not the primary requirement.
- Comfortable presenting findings and recommendations to senior stakeholders and governance forums.
- Sharp analytical thinking and clear written communication - you will be writing reports and policy documents that the business acts on.
- Comfortable working independently and challenging the business constructively when controls fall short.
- Support the Head of FinCrime in owning and running Capital on Tap's compliance monitoring programme, designing thematic reviews and control tests that assess whether 1st line financial crime controls are working as intended.
- Maintain and develop AML/CTF policies, procedures, and risk appetite standards — drafting updates in response to regulatory change, monitoring findings, QA output, and internal audit recommendations.
- Support the completion of the business-wide Financial Crime Risk Assessment (FCRA), identifying areas of emerging risk and recommending proportionate controls.
- Review internal UAR referrals from 1st line and other business areas, challenging quality and supporting the MLRO on whether external disclosure to the NCA is appropriate.
- Act as the 2nd line subject matter expert for complex financial crime escalations - including PEPs, sanctions, adverse media, complex ownership structures, and high-risk onboarding - providing a governance view rather than making operational decisions.
- Produce management information and compliance reporting for senior leadership and relevant governance committees.
- Support horizon scanning activity, translating regulatory change into practical impact assessments for the business.
- Coordinate with internal teams on law enforcement enquiries and partner bank requests, ensuring appropriate documentation and oversight.
- Strong presenting skills, able to break complex subject matter down into simple terms.
- Experience with SQL and strong Excel skills.
- Appropriate industry accreditation such as ICA Diploma or ACAMs
Capital on Tap provides business credit cards and working capital to SMEs in the US and UK. Its main product is a high‑limit business card used for various expenses, with revenue from interest on credit lines and likely card interchange; it also leverages funding facilities and partners with banks (e.g., ClearBank) to offer savings accounts. The company distinguishes itself by targeting SMEs with a range of financing options and collaborative products that broaden its financial toolkit across two countries. Its goal is to help small businesses manage money and access affordable funding to operate and grow.
Company Size
501-1,000
Company Stage
N/A
Total Funding
$4.1B
Headquarters
London, United Kingdom
Founded
2012
Simplify's Take
What believers are saying
- Secured £650m funding in 2024, expanding Master Trust to £1.2bn with SMBC and HSBC.
- Plaid integration since 2023 streamlines UK SME underwriting, boosting approvals.
- GoCardless VRP enables flexible weekly repayments, saving £15m in fees.
What critics are saying
- Brex captures US SMEs with higher limits, eroding 50-70% share in 12-24 months.
- Ramp's zero-fee cards drive UK/US migration among cost-sensitive customers in 6-12 months.
- FCA PS24/5 rejects 20-30% more applications, shrinking volume by January 2026.
What makes Capital on Tap unique
- Capital on Tap offers 'Preloading' feature for SMEs to boost credit lines with own funds.
- Provides embedded savings accounts via ClearBank with FSCS protection and instant withdrawals.
- Delivers 1-2% uncapped cashback on all business purchases without annual fees.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
Private Healthcare
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Flexible Work Hours
Remote Work Options
Hybrid Work Options
Paid Vacation
Paid Holidays
Sabbatical Leave
Annual Learning and Wellbeing Budget
Parental Leave
Family Planning Benefits
Fertility Treatment Support
Cycle to Work Scheme
Season Ticket Loan
Mental Health Support
Therapy sessions
Wellness Program
Gym Membership
Phone/Internet Stipend
Home Office Stipend
Pension Scheme
Career development budget
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↓ -1%Capital on Tap, a UK-based FinTech, has expanded its funding structure by securing £650 million, bringing its Master Trust facility to £1.2 billion. The funding round included new partnerships with SMBC Group, Société Générale, and Lloyds, with HSBC playing a key role. This expansion aims to optimize funding flexibility and growth for Capital on Tap, which provides credit cards and financing solutions to small businesses in the UK and US.
Capital on Tap has secured an additional £650 million in funding, expanding its Master Trust facility to £1.2 billion. This funding involves new partnerships with SMBC Group, Societe Generale, and Lloyds, enhancing support for small businesses. The expansion will help Capital on Tap scale operations and continue providing financial solutions to over 200,000 small businesses, with more than £20 billion in spending facilitated through its business credit cards.
Flexys, a leading provider of real-time debt management software, announced a new partnership with Capital on Tap, a fast-growing provider of business credit cards and spend management tools for small businesses. This collaboration aims to streamline Capital on Tap’s debt collection processes, improve operational efficiencies, and significantly enhance the customer experience through advanced self-service capabilities.Driving innovation in debt collection with scalable self-service technologyCapital on Tap sought a scalable solution that would empower its customers to manage their accounts more effectively, while also optimising internal collection processes. Flexys’ out-of-the-box collections solution was selected for its ability to deliver rapid value and a measurable return on investment.Automating collections to boost efficiency and recovery ratesFlexys’ software will automate and digitise Capital on Tap’s collections, enabling the company to significantly increase operational efficiency and debt recovery rates, and support their growth. The solution includes a comprehensive customer self-service portal, alongside core collections functionality.Proven results: enhanced collection outcomes and reduced complaintsFlexys’ clients have reported impressive results, including collecting up to three times more debt, increasing team capacity tenfold, and experiencing a 25% reduction in complaints. This partnership is expected to deliver similar positive outcomes for Capital on Tap.Executive insights: a shared vision for customer empowermentMark Porter, Head of Collections at Capital on Tap commented: “At Capital on Tap, we are committed to empowering small businesses with tools that simplify financial management. Partnering with Flexys allows us to take this commitment further by providing a seamless and innovative debt collection experience
Capital on Tap, a leading all-in-one small business credit card and spend management platform, has selected bank payment company GoCardless to provide Variable Recurring Payments (VRPs) through its open banking feature, Instant Bank Pay. This expands a relationship which began in 2014, when Capital on Tap first selected GoCardless for Direct Debit. Capital on Tap will use GoCardless to collect both one-off and recurring payments, enabling them to offer greater payment flexibility to their small business customers. Capital on Tap customers will be able to repay their credit cards on a monthly basis using Direct Debit, and have the option to make weekly repayments and recurring payments for variable amounts through open banking. Damian Brychcy, CEO of Capital on Tap, said: “We’ve worked with GoCardless for over a decade, collecting more than £2.5bn in Direct Debits with over £15m saved in card fees. Given these successes, it made sense to choose GoCardless for open banking payments — not only building on our strong relationship but also benefitting from the convenience of collecting both recurring and ad hoc payments through one trusted provider
Capital on Tap has secured major funding facilities for its card totalling £750 million to fuel expansion and support for small businesses