Business Issue
A UK based MiFID firm reached out to fscom for support with its authorisation as an electronic money institution (EMI) by the FCA, following an initial unsuccessful application. Building on its original application previously developed in-house, the client sought fscom’s guidance to identify areas for enhancement and strengthen its approach ahead of resubmission.
Solution
fscom began by running a workshop with the client to understand their business model and undertake a structured review of existing documentation. This helped establish clear timelines and a well-defined project plan. We subsequently worked with internal stakeholders to provide detailed feedback and support implementation in advance of the client’s new submission.
Benefits
The client ultimately saved time and internal resources to develop a thorough application pack ahead of their submission. The project plan was delivered on time and upon submission received limited questions from the FCA given the clarity of documentation submitted. The client successfully gained authorisation as an EMI.
Client
Feedback
The client was satisfied with the work delivered and grateful for fscom’s support on their authorisation journey.
