Client
A FinTech startup offering multi-currency e-money account
Objective
The company objective was the requirement to become authorised to issue e-money to transition from current arrangement with another e-money issuer acting as principal. They required management of the process to compile the application pack and submit within a challenging timeframe. Liaison with internal stakeholders to develop appropriate systems and controls to meet regulatory requirements and to transfer knowledge. To liaise with external stakeholders to explain regulatory requirements, as required.
Approach to engaging with the client
We initiated the project by completing the application form and drafted accompanying documents, including the description of safeguarding and anti-money laundering procedures. We worked with internal stakeholders to transfer knowledge on the regulatory obligations and to prepare for authorisation. Provided guidance on the presentation of material to the FCA and other external stakeholders.
Outcome
fscom delivered the application project on target and the application was processed by the FCA within three months.
