Obtaining a payment institution license is a significant challenge for many companies. Based on our experience, we are glad to support businesses in taking on this challenge. One of these companies is Pay.nl, a Dutch payment institution offering payment solutions for online webshops.
Our guidance for Pay.nl included writing a concrete and fitting business case and setting up the Risk and Compliance function. We also jointly reviewed existing processes, updated them where necessary, and made them compliant with applicable laws and regulations. This applied to areas such as customer onboarding policies and processes involving sensitive information.
The licensing process seemed quite demanding, but thanks to Projective Group, we received the license on time!
Olaf Kok, Pay.nl
This project focused strongly on defining clear objective and subjective indicators in the context of anti-money laundering and countering the financing of terrorism (AML/CFT), as well as complying with the Sanctions Act. In collaboration with Pay.nl, we conducted a comprehensive risk analysis based on FIRM regulations and our own best practices. The outcome was a thorough and agreed-upon overview of all risks associated with Pay.nl.
Our knowledge and experience in obtaining payment institution licenses allowed us to support this client effectively. This accelerated the licensing process and provided Pay.nl with the necessary support. After obtaining their license, Pay.nl continued to use our consultants’ services as external Risk & Compliance Officer.
Über Projective Group
Projective Group wurde 2006 gegründet und ist ein führender Spezialist für Veränderungen im Finanzdienstleistungssektor. Das Unternehmen verfügt über umfassendes Fachwissen in den Bereichen Data, Payments, Transformation und Risk & Compliance.
In der Branche sind wir als umfassender Lösungsanbieter anerkannt und arbeiten partnerschaftlich mit unseren Kunden zusammen, um ganzheitliche und pragmatische Lösungen zu bieten. Wir haben uns zu einem vertrauenswürdigen Partner für Unternehmen entwickelt, die in einer sich ständig wandelnden europäischen Finanz- und Unternehmenslandschaft erfolgreich sein und wachsen möchten.
