Finance Archives - Fintech Expert https://www.fintech-expert.co.uk/category/finance/ Consulting company for Electronic Money Institutions Fri, 17 Feb 2023 22:27:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 Will Railsbank become the next WireCard ? https://www.fintech-expert.co.uk/will-railsbank-be-the-next-wirecard/ https://www.fintech-expert.co.uk/will-railsbank-be-the-next-wirecard/#respond Fri, 17 Feb 2023 21:41:23 +0000 https://www.fintech-expert.co.uk/?p=1040331 {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”\n According to several sources, the Lithuanian financial regulator, the Bank of Lithuania, has launched an investigation into UAB Payrnet, a subsidiary of Railsbank, over allegations of money laundering failures.\nWhile this is not something unusual, there is a new factor to consider in the potential impact this may have over the whole “fintech ecosystem”.\nThe scale […]

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]]> {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”\n

According to several sources, the Lithuanian financial regulator, the Bank of Lithuania, has launched an investigation into UAB Payrnet, a subsidiary of Railsbank, over allegations of money laundering failures.\nWhile this is not something unusual, there is a new factor to consider in the potential impact this may have over the whole “fintech ecosystem”.\nThe scale of the consequence is something not seen before : when looking at the licence usage, we can see that 50 agents (!) are passeporting the licence and serving their own customers using Payrnet licence.

\nWe can surely understand that Payrnet is trying to minimise the facts but if the conclusions of the investigation were to be positive, that would be the beginning of the fall of the house of cards.\nConsidering that Payrnet has already stopped accepting new clients, the next steps will probably be advanced scrutiny on outgoing transactions and probably “freeze” or major slow down in operations for all actors using this licence.\n\nMoreover, the same entity also holds a UK licence, where they also have 49 agents. At minimum, the investigation of the Lithuanian Central Bank should trigger the same for the FCA on on the UK entity as its hard to believe that the failure to meet  regulatory requirements would be limited to the Lithuanian entity and is probably something more systemic in the Group.\n

The fall of Railsbank would be a real sensation in the fintech ecosystem since the WireCard fall, especially when considering that one year ago, it was looking at becoming a unicorn (valued at 1 billion US dollars), while several month ago it barely was valued at 250 millions US dollars and its now on the verge of losing much of its value if any of the investigation will lead to the loss of its licence.

\n

This also marks a new era where the regulator should maybe review the model of “agent” and the possibilities to “outsource” your licence, for the sake’s of customer’s protection.

\nFull list of agents using PayrNet licence in Lithuania :\n\nBigeDirect S.A., BPS CYP LIMITED,Clear Currency Europe Limited,CPS Solutions OÜ,Digital Fiat OU,DLTify UAB,Easy Pay Educa Limited,Ela Expeditions IE Limited,ELYPS SA,Fintech Operations OÜ,FirePay Merchant Services,Foris MT Limited,IFX Payments Europe sp. z o.o.,LinkCy Payment Service Provider UAB,Luxon EU ApS,Metallicus UAB,MF TEL,Oktopay Connect LTD,Opt1mize Technologies Limited,ORO PAY LTD,Oval Money (Europe) Limited,Paygoo AS,PaygooAB,Paymium Financial Services France,PAYSME EUROPE LIMITED,Paywho, UAB,Penrose Digital Ltd,PL Gutscheinsysteme GmbH,Plum Fintech CY Limited,Q-Express Online Oy,Rational Foreign Exchange EU, UAB,Regent EU UAB,Revuto OÜ,RG Financial Ltd,Simpled Card Exploitatie B.V.,SimpledCard GmbH,Sync.Money Lithuania, UAB,To,Streamflow EAD,Sureswipe E.M.I. Plc,The Gift Card Company Ltd.,Trustshare UAB,UAB ‘Creditco’,UAB ‘deVere E-Money’,UAB Juni Technology,UAB MIR Lithuania,UAB Wirex,UAB Zeply LT,Wamo Solutions Limited,wyer B.V.,Woli Services Ltd\n

Full list of agents using PayrNet licence in UK :\nA&B General (UK) Ltd,Acquired Limited,BeAccount Ltd,Blockthree Payments Limited,Chipper Technologies (UK) Limited,Cledara Limited,EGALITI LTD,ELA EXPEDITIONS UK LTD,Elyps S.A,FAST PAYE LTD,Finadvant Limited,Flutterwave UK limited,FTFT UK LTD,Gosolo Financial Limited,HI55 Ventures Limited,Incendia Card Solutions Limited,KIXY LTD,MASLIFE LTD,MYTALU LTD,NASH EXCHANGE LTD,Neat Global Limited,Niyah Ltd,Novus World LTD,Nufin GMBH,OKTOPAY UK LIMITED,Opt1mize Technologies Limited,PAYAABLE LTD,Paycaptain Payroll Solutions Limited,Payhawk Financial Services Ltd,Payrow Payment Systems Limited,Payscanner Ltd,Paytriot Ltd,Penrose Digital Limited,Plum Fintech Limited,Pockit Limited,Rational Foreign Exchange Limited,Regent Foreign Exchange Limited,Rewire EU B.V.,ROOTSPACE AI LTD,Sonovate Ltd,Statrys UK Limited,Streamflow EEOOD,Tallymoney Ltd,Trustshare Limited,Wagestream Ltd,Wamo.Io Ltd,XCEL INC Limited,ZAZUU HQ LTD,ZEN DIGITAL PAYMENTS LTD

\nSources :\n\n- The Telegraph : https://www.telegraph.co.uk/business/2023/02/16/british-fintech-champion-accused-systematic-failings-anti-terror/\n

\n- Finextra : https://www.finextra.com/newsarticle/41821/railsr-unit-faces-lithuanian-investigation-into-money-laundering-failures?utm_medium=newsflash&utm_source=2023-2-17&member=153202

\n

\n- Bank of Lithuania : https://www.lb.lt/en/sfi-financial-market-participants/uab-payrnet\n

\n

-Financial Conduct Authority : https://register.fca.org.uk/s/firm?id=001b000003JiNqpAAF

“}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://www.fintech-expert.co.uk/wp-content/uploads/2023/02/fintech-expert-article-1024×535.png|627|1200|1040343″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}

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]]> https://www.fintech-expert.co.uk/will-railsbank-be-the-next-wirecard/feed/ 0 Canadian MSB Licence https://www.fintech-expert.co.uk/canadian-msb-licence/ https://www.fintech-expert.co.uk/canadian-msb-licence/#respond Wed, 18 Jan 2023 10:46:06 +0000 https://www.fintech-expert.co.uk/?p=1040327 {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”The Canadian MSB licence, also known as a Money Services Business licence, is a permit issued by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) that authorizes a business to engage in activities that involve the transmission of money or monetary value. Activities allowed with such licence include money transfers, currency exchange, cheque cashing, […]

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]]> {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”The Canadian MSB licence, also known as a Money Services Business licence, is a permit issued by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) that authorizes a business to engage in activities that involve the transmission of money or monetary value. Activities allowed with such licence include money transfers, currency exchange, cheque cashing, and certain other services related to money transfers.\n\nTo be eligible for a MSB licence in Canada, the applicant must be a Canadian resident and must be registered with FINTRAC as a Money Services Business. In order to obtain a MSB licence, applicants must meet certain financial and legal requirements.\n\nApplicants must be able to demonstrate their financial soundness, as well as their ability to comply with anti–money laundering and counter–terrorist financing regulations. Additionally, applicants must have a physical presence in Canada, must have a designated compliance officer, and must have a sound anti–money laundering policy and procedure in place. The process to obtain a MSB licence in Canada is relatively straightforward.\n\nApplicants must first register with FINTRAC and submit a complete application package.\n\nThe application package must include a Form F2 (a business profile form), a copy of the most recent financial statements of the applicant, and a detailed description of the business activities the applicant intends to engage in. Once the application package is complete and submitted, FINTRAC will review the application and may request additional information or clarification.\n\nUpon FINTRAC’s review, the applicant will receive a notification of whether the application was approved or rejected. If approved, the applicant will receive the MSB licence and must adhere to the conditions outlined in the licence.\n\nThe entire process of applying for and obtaining a MSB licence in Canada generally takes between three and six months, depending on the size and complexity of the business.\n\nObtaining a MSB licence in Canada is a complex process that requires careful consideration of the relevant regulations and requirements. For assistance in determining whether a MSB licence is the right option for your business, and for help in navigating the application process, contact us for professional consulting around EMI licencing in any jurisdiction. Our experienced team of professionals can help guide you through the process and ensure that your application is successful.“}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://www.fintech-expert.co.uk/wp-content/uploads/2023/01/canada_640.png|480|640|1040328″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}

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]]> https://www.fintech-expert.co.uk/canadian-msb-licence/feed/ 0 Electronic Money Institution licence : Lithuania or UK ? https://www.fintech-expert.co.uk/electronic-money-institution-licence-lithuania-or-uk/ https://www.fintech-expert.co.uk/electronic-money-institution-licence-lithuania-or-uk/#respond Tue, 03 Jan 2023 22:53:35 +0000 https://www.fintech-expert.co.uk/?p=1040324 {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:”How to choose the most suitable licence ?”,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”An Electronic Money Institution (EMI) is a type of financial institution that provides electronic money services in Lithuania. It is regulated by the Bank of Lithuania and requires a licence to operate.\n\nThe process to obtain the licence involves submitting an application to the Bank of Lithuania, which includes […]

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]]> {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:”How to choose the most suitable licence ?”,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”An Electronic Money Institution (EMI) is a type of financial institution that provides electronic money services in Lithuania. It is regulated by the Bank of Lithuania and requires a licence to operate.\n\nThe process to obtain the licence involves submitting an application to the Bank of Lithuania, which includes a business plan, financial statements, and other documents. The cost of the licence is approximately €50,000 and the timeline for obtaining the licence is approximately 6–9 months. This cost only related to the administrative procedures and doesn’t include all the technical and legal costs associated to all the documents to provide to the regulators.\n\nAn EMI in Lithuania can offer services such as issuing electronic money, providing payment services, and providing payment accounts. These services are similar to those offered by an Electronic Money Institution in the UK, however, the UK licence requires additional capital requirements and a more detailed business plan.\n\nIf you are interested in obtaining an Electronic Money Institution licence in Lithuania or in the UK, please contact our company for consulting services. We have extensive experience in the field and can provide you with the necessary guidance and support to ensure that you obtain the licence in a timely and cost–effective manner.“}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://www.fintech-expert.co.uk/wp-content/uploads/2023/01/bank-image.png|249|602|1040325″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}

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]]> https://www.fintech-expert.co.uk/electronic-money-institution-licence-lithuania-or-uk/feed/ 0 Baltic International Bank operations stopped https://www.fintech-expert.co.uk/baltic-international-bank-operations-stopped/ https://www.fintech-expert.co.uk/baltic-international-bank-operations-stopped/#respond Tue, 13 Dec 2022 15:05:14 +0000 https://www.fintech-expert.co.uk/?p=1040316 {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”On the 12th December 2022, the Latvian regulator FKTK (Finance and Capital Market Commission) has imposed the end of the operations of the Baltic International Bank in order to ensure the stability of Latvia’s financial sector and to protect the interests of the bank’s clients.\n\nThis news will not only affect the direct customers of the […]

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]]> {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:””,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”On the 12th December 2022, the Latvian regulator FKTK (Finance and Capital Market Commission) has imposed the end of the operations of the Baltic International Bank in order to ensure the stability of Latvia’s financial sector and to protect the interests of the bank’s clients.\n\nThis news will not only affect the direct customers of the bank but it may also have consequences for several Electronic Money Institutions, as this bank was widely used by EMI as a partner in order to fulfill various payment services.\n\nIf your EMI has been affected and you are looking for an alternative solution after the shutdown of your account at Baltic International Bank, feel free to contact us !”}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://www.fintech-expert.co.uk/wp-content/uploads/2022/12/logo-bib.png|321|606|1040320″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}

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]]> https://www.fintech-expert.co.uk/baltic-international-bank-operations-stopped/feed/ 0 Electronic Money Institution Licences https://www.fintech-expert.co.uk/electronic-money-institution-licences/ https://www.fintech-expert.co.uk/electronic-money-institution-licences/#respond Mon, 17 Oct 2022 13:44:27 +0000 https://www.fintech-expert.co.uk/?p=1040311 {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:”Which jurisdiction to chose for your project ?”,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:” Electronic Money Institutions – Licences \nEurope has many jurisdictions that allow you to start your Fintech project.\nObtaining a licence is usually a whole project and each jurisdiction has its own requirements that need to be carefully analyzed to ensure the licence will match your business needs.\nMore than […]

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]]> {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”title”:””,”subtitle”:”Which jurisdiction to chose for your project ?”,”title_content”:{“component”:”hc_title_image”,”id”:”title-image”,”image”:””,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”breadcrumbs”:false,”light”:false,”alignment”:””}},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”

Electronic Money Institutions – Licences

\nEurope has many jurisdictions that allow you to start your Fintech project.\nObtaining a licence is usually a whole project and each jurisdiction has its own requirements that need to be carefully analyzed to ensure the licence will match your business needs.\nMore than this, if you will need to partner with other Fintech providers and/or banking partners, you will need to ensure that partners are comfortable with the jurisdiction of your entity.\nAs of today, the jurisdictions that are mostly used for successful fintech project and Electronic Money Institution businesses are :\n\n- United Kingdom which is regulated by the FCA\n- Lithuania regulated by the central Bank of Lithuania\n- Estonia regulated by FSA -FINANTSINSPEKTSIOON\n- Latvia regulated by the FKTK\n- France regulated by the ACPR\n- Canada”}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://www.fintech-expert.co.uk/wp-content/uploads/2022/10/emi-licence.png|394|593|1040322″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}

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