Payment institution authorised in 9 months despite a stalled application

The challenge

During a Part 4A / PSRs 2017 authorisation, the firm hit unexpected challenges with its FCA case handler and lost key personnel mid-application — putting the timeline and outcome at risk.

Regulatory context

Authorisation as a payment institution under the Payment Services Regulations 2017, including an FCA interview with the proposed senior management.

What MEMA did

• ✓Advocated for the firm professionally and secured a change of FCA case handler
• ✓Supported the firm through senior personnel transitions without losing application momentum
• ✓Prepared the COO for the FCA interview
• ✓Managed the application end-to-end through to determination

Timeline

Authorised in 9 months, despite the added complexity.

Outcome

Full FCA authorisation as a payment institution.