Business Issue
A banking-as-a-service platform required a comprehensive compliance audit to validate that it was meeting the highest regulatory standards. The review needed to cover key areas including Anti-Money Laundering (AML), Safeguarding, and Capital Adequacy, providing assurance both internally and externally.
Solution
fscom conducted a thorough assessment of the client’s compliance with their obligations under the relevant regulatory frameworks, including the Electronic Money Regulations (EMRs), Payment Services Regulations (PSRs), Money Laundering Regulations (MLRs), the Proceeds of Crime Act (POCA), and JMLSG guidance. This involved reviewing processes, policies, personnel, and internal controls. fscom delivered a detailed written report outlining key findings and tailored recommendations, alongside an opportunity for the client to respond and act immediately where necessary.
Benefits
The client felt reassured by the depth and clarity of fscom’s assessment and was empowered to take swift, informed action based on the findings. The process provided confidence in their compliance framework and readiness for future growth.
Client
Feedback
The client came away with greater confidence in their ability to meet regulatory expectations, supported by a practical framework and a clear plan for ongoing improvement.
