Your questions answered
Here you can find our most frequently asked questions – covering what we do, our process and how we can help you.
Here you can find our most frequently asked questions – covering what we do, our process and how we can help you.
What is FinTech?
FinTech is any Financial services company which utilises technology in the design or production of their product, and / or a use of technology in delivering that product to the client, or enhancing the user experience.
We tend to think of FinTech Firms as having some, or all of the following features:
1. Technology (Of course)
2. An Innovation in product, service, or methodology of delivery to user
3. Alternative Finance (non-mainstream investment products)
Why should I use FinTech Compliance?
FinTech Compliance:
Has knowledge of and expertise in financial services compliance, governance and regulation, and how this specifically relates to FinTech firms of all kinds
Has consultants, who have extensive experience in assisting FinTech firms, in:
Has experience in the following types of firms:
Do I need to be authorised by the FCA?
If you wish to conduct regulated activities in the UK, you will need to be authorised by the FCA. A brief and free discussion with one of our specialists will quickly establish whether you will need to be or not.
What is the process and how long will it take?
The activities, client type and instruments will need to be established and then the appropriate documentation will need to be submitted to the FCA. Getting the pack together usually takes around a month and then the FCA can take up to six months to revert with queries before final approval is given. Fees to the FCA vary on the permission profile required.
The FCA have asked my firm to do a full review on a specific area of my business, how would I get this done?
Depending on the area, we can introduce you to one of our specialists to assess your requirements and conduct the review.
I am registered / authorised but I’m having trouble keeping up with the compliance requirements, what do you suggest?
Compliance services can be varied to suit your requirements, flexible, cost effective, offerings are always available. We would suggest you touch base with us to determine what your requirements are.
I need training in specialist areas for my staff.
We have a great many training schemes available and can also produce bespoke training specifically for your requirements.
Get in touch with us if you have any unanswered questions.