Business Issue
An Australian-parented financial technology company offering integrated solutions for cross-border payments needed to establish a UK presence and become authorised as an electronic money (e-money) institution by the Financial Conduct Authority (FCA). The client sought strategic guidance on the regulatory implications of their business model, project management assistance with the authorisation process, and help with implementing the required systems and procedures.
Solution
fscom implemented a structured approach, ensuring clarity on project goals, timelines, knowledge transfer, and a robust quality assurance process. We held an initial meeting with the client to discuss objectives, finalise a detailed project plan, develop a project charter, and identify key milestones. We then worked with internal stakeholders to compile and review the application pack, ensuring regulatory obligations were met. After reviewing and refining the application, it was submitted to the FCA. fscom also provided support with post-submission queries and conducted a final meeting to ensure client satisfaction.
Benefits
The client received clear guidance on regulatory requirements, a well-prepared application pack, and full support through the FCA authorisation process. The project was delivered on time, and the application was processed by the FCA within three months, resulting in successful authorisation.
Client
Feedback
The client was satisfied with the efficient and comprehensive support provided by fscom throughout the entire process. With fscom’s assistance, they were able to meet their regulatory requirements and successfully obtain FCA authorisation within the desired timeframe.
