Business Issue
A Payments Service Provider (PSP) sought to obtain an e-money license in Ireland as part of its post-Brexit strategy. The firm required assistance in setting up an Irish entity and gaining authorisation from the Central Bank of Ireland (CBI) to operate as an e-money institution.
Solution
fscom implemented a comprehensive engagement management approach to ensure project clarity, timely delivery, and high-quality standards. This included initiating a project meeting to align on objectives, reviewing the project plan, and identifying key milestones. We worked closely with the client to review existing policies and procedures, identify potential risks, and establish controls. After preparing the application pack and ensuring it met all regulatory requirements, the submission was made to the CBI. We also supported the client with post-submission queries and conducted a closing meeting to review deliverables.
Benefits
The project was completed successfully within the agreed timeframe. The client was able to submit a well-prepared application to the CBI and ultimately received e-money institution authorisation. The firm was able to expand its operations into the EU with confidence, meeting regulatory requirements and ensuring smooth post-Brexit continuity.
Client
Feedback
The client was pleased with the timely and thorough support provided by fscom throughout the application process. They appreciated the structured approach and clarity on regulatory obligations, which enabled them to secure the necessary authorisation from the CBI. The firm felt well-prepared to continue its growth plans post-Brexit.
