Electronic Money Institutions
Since 2013, we've been helping e-money institutions, from start-ups to established businesses, thrive and grow. At Buckingham Capital Consulting, we make it easy to secure regulatory licences and meet compliance requirements, enabling you to scale your business across the UK and European financial markets.
How can we help?
Let's discuss
Fill out our form and we will get back to you, usually within 24 hours.
Expert guidance for EMI licencing
Why leading firms choose us as their partner.
"We are thrilled with the exceptional service provided by Buckingham Capital Consulting throughout our journey to obtain the Electronic Money Institution licence. Their expertise and guidance have been invaluable, resulting in outstanding outcomes for our business. them, we successfully acquired the licence within a reasonable time-frame. Their in-depth knowledge of regulatory compliance and meticulous attention to detail ensured that our documentation was well prepared and aligned with the FCA's requirements."
We highly recommend Buckingham Capital Consulting to any business seeking to obtain an EMI licence. Their professionalism, knowledge, and commitment to excellence have exceeded our expectations. Partnering with them has been a game-changer for our business, and we are grateful for their invaluable support."
Our services for Electronic Money Institutions (EMIs)
Buckingham Capital Consulting assists e-money institutions in securing regulatory authorisations in the UK and Europe. Our expert team provides comprehensive support in compliance, operational setup, technology solutions, and financial management, ensuring your business meets all regulatory requirements and thrives in both markets.
We can help you navigate the entire FCA authorisation process for your e-money institution, ensuring compliance with all UK regulatory requirements. Our comprehensive support includes application preparation, documentation, and liaison with the FCA, providing you with a seamless and efficient path to obtaining your EMI licence and starting operations smoothly.
European EMI Authorisation
We can assist you in obtaining EMI authorisation across the EU, handling the complexities of European regulations to ensure your smooth market entry. Our services include drafting applications, providing regulatory advice, and ensuring ongoing compliance, helping you meet all necessary requirements to operate effectively and compliantly within the European Union.
EMI Compliance
We offer tailored compliance solutions for e-money institutions, helping you adhere to all regulatory requirements. Our services encompass policy development, compliance audits, risk assessments, and ongoing advisory, ensuring your operations remain compliant and reducing the risk of potential penalties. We provide the expertise you need to maintain a robust compliance framework.
Operational Support
We deliver ongoing operational support tailored to e-money institutions, covering risk management, internal controls, and daily operational guidance. Our expertise helps you optimize efficiency, ensure regulatory adherence, and manage risks effectively, supporting sustainable growth and operational excellence for your e-money services.
Financial Management
We provide comprehensive financial management services, including financial reporting, accounting, and audits, ensuring your e-money institution maintains accurate records and meets all financial regulations. Our team helps you streamline financial operations, enhance transparency, and ensure compliance, supporting your institution's financial health and regulatory adherence.
Banking as a Service (BaaS)
We deliver comprehensive Banking as a Service solutions for fintechs looking to launch quickly to market. Our BaaS offering enables you to operate under partner licences, handling integration and compliance to ensure smooth market entry. Our services include partner selection, onboarding support, and implementation management, helping you meet all requirements to operate effectively and compliantly.
Launch Your Fintech in 2 Weeks With Our Fast-Track BaaS Service
While your own licence authorisation application is being processed, our Banking as a Service solution enables you to launch your fintech in as little as 2 weeks, across the UK and Europe. Operate under our partner licences with full compliance support while we secure your permanent licence authorisation.
Why Buckingham Capital Consulting
Whether its compliance, FCA authorisation or something else, its about being part of your journey.
Expertise from seasoned experts
Our team of seasoned professionals brings a wealth of expertise to the table. With years of industry experience, we offer tailored solutions and are committed to supporting you through every stage of your journey.
Comprehensive Regulatory Support
We provide a comprehensive range of regulatory consulting services, including financial reporting, audit, compliance, training, and financial crime. Count on us to manage your needs with seamless support.
Since 2013, we've been assisting hundreds of clients in navigating the regulatory complexities of the electronic money institution (EMI) sector. Our services cover all aspects of EMI licencing, compliance, training, and consulting, tailored to meet the specific needs of businesses across the United Kingdom and Europe. With a deep understanding of regulatory rules and guidance in the e-money and payments sectors, we're well-positioned to advise and support EMI firms of all sizes and types as they navigate the evolving landscape.
Recent successful work
Buckingham Capital Consulting helps Nexpay obtain FCA Authorised Payment Institution licence.
Payment Institution
Buckingham Capital Consulting helps Hami obtain a payment institution licence in the UK to offer money remittance services.
Buckingham Capital Consulting advises Global Send on obtaining the Authorised Payment Institution licence.
Payment Institution
Buckingham Capital Consulting helps Onpoint Money Transfer obtain a payment institution licence in the UK to offer money transfer services.
Payment Institution
Buckingham Capital Consulting helps Dzing Financial obtain FCA Authorised Electronic Money Institution licence.
We help McMillan Cancer - one of Britain's largest charities obtain an FCA consumer credit licence to offer financial services.
Consumer Credit
Buckingham Capital Consulting helps HFS obtain its Electronic Money Institution licence in the UK with the FCA.
EMI
Buckingham Capital Consulting helps Europanpay obtain its Electronic Money Institution licence in the UK with the FCA
EMI
Download our free guide on FCA registration and authorisation and how to ensure a successful outcome with your application.
Key information and requirements for the EMI licence
Key requirements
-
Minimum Capital: €350,000 initial capital.
-
Personnel: Appoint CEO, MLRO, Compliance Officer, and other key roles.
-
Physical Presence: Local UK office with necessary infrastructure.
-
Governance: Robust risk management and governance frameworks.
-
Safeguarding: Secure client fund arrangements.
-
IT Systems: Reliable, secure IT infrastructure.
-
Outsourcing: Clear management of outsourced functions.
-
Meet FCA's threshold conditions
Required Documentation
-
Business Plan: Detailed model with forecasts and analysis.
-
AML/KYC Policies: Comprehensive AML and KYC procedures.
-
Corporate Governance: Governance structure with roles.
-
Organisational Structure: Chart with key personnel.
-
Capital Evidence: Proof of capital and financial health.
-
Safeguarding Arrangements: Secure client fund procedures.
-
Outsourcing Arrangements: Oversight plans for outsourced activities.
-
Risk Management Framework: Comprehensive risk strategies.
-
IT Security: Detailed IT security policies.
-
Compliance Monitoring: Ongoing compliance procedures.
-
Physical Office: Proof of UK office.
Our services
Application Management & Submission: We handle the full application process, from completing forms to liaising with the FCA.
Tailored Policy Creation: We’ll draft essential policies for you, ensuring they meet regulatory standards.
Expert Regulatory Guidance: Our team offers strategic advice on compliance, governance, and risk management to keep your business on the right track.
Ongoing Compliance Support: Post-authorisation, we provide continuous support to help you stay compliant and navigate any regulatory challenges.
Other important information
-
What is an EMI Licence? An EMI licence allows issuing electronic money and providing e-wallets, prepaid cards, and online payments.
-
Cost to Obtain an EMI Licence: The cost includes a £5,000 FCA fee, the initial capital and our fee.
-
Time to Obtain an EMI Licence: Typically, it takes 6 months for the EMI.
-
Difference Between EMI and PI: EMIs issue electronic money; PIs process payments but can't hold funds.
-
Services Provided with an EMI
E-wallets, prepaid cards and payment services I.e. acquiring & processing.
Our People
Our team of regulatory and compliance experts brings together diverse backgrounds in banking, consulting, legal, financial, and regulatory sectors. This collective experience provides us with a comprehensive understanding of the unique challenges our clients face. When you choose to work with us, you’ll benefit from the personalised attention of seasoned professionals, often at the director level, ensuring you have direct access to senior experts. Our team combines robust regulatory knowledge with commercial insight, delving deep into your business to tailor unique solutions specifically suited to your needs. This approach ensures we address your challenges effectively and support your success.
We can help launch your fintech
Issue cards & IBANS across the UK and Europe
We can help you provide branded debit cards to personal or business users issued by Visa or Mastercard.
Issue prepaid cards across the UK and Europe
We can help you provide cards for general spend, payroll, loyalty, travel, corporate expense or for other use.
Issue e-wallets across the UK and Europe
Enable your customers to store money and digital currency in digital wallets across multiple currencies.
Launch a global money transfer business solution
Enable your users to send money globally, across Asia, Europe, Africa and the rest of the world.
Launch payment processing and merchant services
With a single licence, enable merchants and retails, both physical and online, to accept card payments.
Launch innovative payment solutions
Provide money management tools and open banking (AIS/PIS) solutions to your customers.
EMI Success Stories
Project: Dzing Financial
Overview
Dzing Financial approached us to help them obtain their EMI authorisation and establish a robust compliance framework. They needed comprehensive support to ensure they met all regulatory requirements and could operate smoothly in the competitive financial markets of the UK and Europe. Our goal was to provide end-to-end assistance, from application submission to ongoing compliance management.
Scope of our work
-
Comprehensive application preparation and submission.
-
Development of compliance policies and procedures.
-
Risk assessment and mitigation planning.
-
Integration of anti-money laundering (AML) systems.
-
Staff training on regulatory compliance.
Outcomes delivered
-
Successfully secured EMI authorisation from the FCA.
-
Implemented a comprehensive compliance framework tailored to regulatory requirements.
-
Enhanced risk management processes to ensure ongoing compliance.
-
Integrated advanced AML systems to prevent financial crimes.
-
Equipped staff with the knowledge and tools to maintain compliance.
Conclusion
By partnering with us, Dzing Financial was able to navigate the complex EMI authorisation process efficiently and effectively. Our comprehensive support ensured they not only met all regulatory requirements but also established a solid foundation for future growth. The value delivered included a seamless authorisation process, robust compliance measures, and improved operational readiness, positioning Dzing Financial for long-term success.
Overview
Hryze sought our expertise to guide them through the EMI authorisation process and provide ongoing compliance support. As a growing e-money institution, they needed a clear regulatory roadmap and comprehensive compliance strategies to ensure sustainable growth and regulatory adherence in the UK and European markets.
Scope of our work
-
Detailed project planning and regulatory roadmap development.
-
Preparation and submission of EMI authorisation application.
-
Compliance audit and gap analysis.
-
Implementation of compliance monitoring systems.
-
Continuous compliance advisory and support.
Outcomes delivered
-
Achieved successful EMI authorisation, enabling market entry.
-
Developed a clear regulatory roadmap, ensuring smooth compliance.
-
Identified and addressed compliance gaps through a thorough audit.
-
Implemented effective monitoring systems for ongoing regulatory adherence.
-
Provided continuous support, ensuring Hryze stays compliant and up-to-date with regulations.
Conclusion
With our guidance, Hryze successfully obtained EMI authorisation and established a strong compliance framework. Our ongoing support ensured they could navigate the regulatory landscape with confidence. The value delivered included a successful authorisation, effective compliance strategies, and the ability to focus on growth while maintaining regulatory adherence.
Project: Hryze
Project: Europanpay
Overview
Europanpay required assistance in obtaining EMI registration and enhancing their compliance and operational frameworks. As an emerging player in the e-money sector, they needed support in navigating the regulatory requirements and implementing efficient operational processes to ensure compliance and support their growth ambitions.
Scope of our work
-
EMI registration application preparation and submission.
-
Creation of robust compliance policies and procedures.
-
Financial management support, including reporting and audits.
-
Integration of technology solutions for compliance and operations.
-
Ongoing compliance and regulatory support.
Outcomes delivered
-
Successfully obtained EMI registration, allowing Europanpay to expand.
-
Established strong compliance policies and procedures.
-
Improved financial management practices, ensuring regulatory compliance.
-
Integrated advanced technology solutions to streamline operations.
-
Provided ongoing support, maintaining regulatory compliance and operational efficiency.
Conclusion
Through our comprehensive support, Europanpay was able to achieve EMI registration and enhance their operational and compliance frameworks. The value delivered included a smooth authorisation process, robust compliance and financial management practices, and the integration of technology solutions that supported their growth and operational efficiency. Europanpay is now well-positioned to thrive in the competitive e-money sector.
Our Publications
