Challenge

Company is a UK based fintech company offering quick money transfers to small and medium-size businesses in the EU. Their clients are currently able to use a Web-based interface or API to transfer money using the best exchange rate to any country in the EU. Also, personal and business accounts have access to SEPA and SWIFT payments with a support team from client that is ready 24/7. The company has chosen to use a FortySeven product, Finmatic Financial Software Solution, for its business. Client had the challenge of getting all the necessary licenses from the UK authorities to legalize the service. Any transfers or financial integration should be allowed, according to regulation policies. To help Client apply for a FCA EMI license in the EU (the work was done before BREXIT), our law experts implemented a full legal investigation. During this first step, it was essential to gather information and consult the client regarding technical documentation for preparing to apply.

After getting all the information regarding the conditions we had to obtain, we gathered a professional team to create the company’s infrastructure and layout technical documentation according to its own business model and projects, that include:

• IT Security Committee Charter
• IT Risk Analysis Methodology and IT Risk Management Policy
• Antivirus Policy
• Logging and Password Policy
• Access Granting Procedure
• Backup Procedure
• Disaster Recovery Plan (not BCP)
• Incident Management Procedure
• Update Procedure