UK API Licence
Your Payment Solutions Gateway
Launch innovative payment solutions in the UK with the coveted Authorised Payment Institution (API) licence.
- Your External Compliance Team: We’ll handle the complex FCA requirements so you can focus on building your business. We’ll build a strong application to boost your approval chances.
- Comprehensive Support: We offer a one-stop service for UK API application, including legal consultation, document review, AML/KYC policy development, external audit arrangements, and more. We streamline the process to save you time and effort.
- Flexible Options: Need speed? We can help you explore API acquisitions for a faster route, if your budget allows.
Ready to launch your UK API? Let’s partner up! Contact us today.
- Expand Your Capabilities: Offer a wide range of regulated payment services, including remittance, payment accounts and processing, card issuing, and more.
- Build Trust: Gain credibility, attract customers and investors by operating as a regulated entity.
- Valuable Asset: An API licence can increase your business value and open doors to new partnerships and funding.
The FCA sets the requirements for API applicants. Here’s a basic overview:
- Initial Capital: GBP 20,000.
- Registration Fee: GBP 5,000.
- Safeguarding: Have a plan to protect client funds (segregated accounts or insurance).
- Leadership: Appoint experienced UK-based leadership with financial services expertise.
- Plan: Submit a comprehensive business plan outlining operations, risk management, revenue forecast, and security measures.
Step 1: Evaluation
2 - 4 weeks
We'll assess your business plan, advise on structure, and outline requirements, costs, and timelines.
Step 2: Fit & Proper
Estimated 1 - 2 weeks
We ensure your team is qualified and ready for FCA compliance.
Step 3: Company Formation
Approximately 1 week
We'll set up your UK LLC.
Step 4: Documentation & Preparation
Estimated 4 - 8 weeks,
depending on complexity
We'll help you develop a strong application that includes detailed plans, forecasts, policies, and coordinate with your departments to produce materials that meet FCA’s standard.
Step 5: Local Presence
Estimated 2 - 4 weeks,
can be done in parallel with Documentation Prep
We'll assist with recruiting local staff (director, CoSec, MLRO) and securing office space.
Step 6: Safeguarding Accounts
Estimated 2 - 4 weeks
We'll leverage our connections to help you establish safeguarding accounts and access necessary payment infrastructure.
Step 7: FCA Submission
Estimated 1 - 2 weeks
We'll electronically submit your application via the FCA's Connect system.
Step 8: FCA Follow-up
Estimated variable,
can range from a few weeks to several months
We'll support you throughout any follow-up communications, questions, or interviews with the FCA.
- Costs: Expect setup costs (local staff, accounting), licensing fees, and ongoing compliance. Contact us for a clear breakdown.
- Timeline: Based on our experience, the process can take several months. We’ll streamline it, aiming for the fastest possible outcome. Our FCA experience helps minimise delays.
UK API licences no longer offer automatic EEA access. Let’s discuss your European expansion strategy – we’ll help you navigate the options.
1. Why obtain a UK API licence?
Operating within the UK's innovative FinTech market provides numerous benefits: expand your service offerings, build stronger credibility, and tap into new growth opportunities alongside established financial institutions.
2. How does an API licence differ from an EMI licence?
APIs primarily focus on enabling seamless data sharing and payment initiation between financial institutions and third parties. EMIs offer a wider range of services, including e-money issuance, payment processing, and account management. We can advise the right choice based on your specific business model.
3. API vs SPI - what’s the difference?
An API primarily focuses on secure data sharing and payment initiation between financial systems, while an SPI is a licensed entity that can directly offer payment services like account management, processing, and potentially card issuance. We'll help you choose the right licence for your business.
4. How long does the application take?
Based on our experience, the process can take several months and if potential FCA requests for further information arise. We'll streamline the process for the fastest possible outcome.
5. Do I need a UK office?
Yes, your leadership must be UK-based. We can help find suitable staff and space.
6. Can I reach the EU with a UK API licence?
No, Brexit changed that. We'll help you craft a European expansion strategy.
7. Does my team need prior FinTech experience?
Relevant experience is beneficial, but not always required. We can help you build a qualified team or connect you with experienced professionals.
8. What technology do I need?
Expect to implement systems for secure data transmission, API management, fraud prevention, and compliance monitoring. We can advise on suitable solutions or connect you with trusted technology providers.
9. What are the costs involved in obtaining and maintaining a UK API licence?
Costs include FCA application fees, setup costs (office space, staffing), technological infrastructure, ongoing compliance, and potential audits. We'll provide a transparent breakdown.
10. Can you provide ongoing compliance support?
Yes! We offer ongoing compliance services to keep you on track.
11. Why choose your company?
We have a proven track record and a client-focused, streamlined project management approach for cross-border licensing applications. We're experts in navigating UK and global regulations, aiming to be your long-term partner for both UK compliance and global expansion.
12. Can you help me with the entire API application process?
Absolutely! From company formation to application submission and FCA communication, we'll guide you every step of the way.
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