Become an EMD or PSD Agent in a matter of weeks
Sometimes referred to as appointed representative or a sub-licence
The Ultrafast way to start providing services
For firms where speed to market is critical, operating as an agent of an authorised firm can provide the fastest possible route to launch.
Framework Alignment and Readiness
Operating as an agent requires your policies, procedures and controls to align with those of the principal firm. We work closely with you to:
-
Review and uplift your AML, safeguarding and governance frameworks
-
Align controls with principal and regulatory expectations
-
Implement proportionate processes suitable for early-stage operations
-
Prepare documentation that can be reused and built upon for your own licence application
This ensures you are not starting from scratch when the time comes to apply directly.
MLRO and Compliance Support
For early-stage firms and startups, resourcing senior compliance roles can be challenging. Where appropriate, we can provide experienced support, including acting as MLRO on an interim basis, subject to suitability and approval requirements.
This allows firms to:
-
Meet principal and regulatory expectations from day one
-
Operate with appropriate oversight and independence
-
Build out internal capability over time
A Faster Route, With a Clear End Goal
This ultrafast route is designed for firms that want to launch quickly without compromising on regulatory standards. Our focus is on speed, structure and continuity — enabling you to operate early while working towards full authorisation in a controlled and regulator-aligned manner.
If you are looking to enter the market quickly and transition to your own licence in due course, we would be happy to discuss whether this route is right for you.
Benefits over becoming directly FCA authorised:
- A shorter and simpler application form for PSD and EMD agents
- Setup costs are cheaper than the FCA application fee
- Timeframes are much shorter, less waiting around and stalling your plans
- Our FCA compliance consultants can assist you with your own application should you subsequently decide on it
- Applying for FCA authorisation is likely to be more successful in the future due to your documented track record
- FCA compliance training and support is included
- Reg Data reporting is taken care of for you as a PSD or EMD agent
- No additional FCA authorisation fees (as well as the application fee, the FCA has annual charges for payment firms)
- You can avoid hiring extra staff to handle the FCA reporting burden
- The perfect option for startup payment firms who lack a track record and are impatient to test the water
Agent-to-Authorisation Programme
For those firms who ultimately want to operate under their own licence, we also offer an Agent-to-Authorisation programme. We support firms in becoming an agent of one of our approved authorised partners. This enables you to operate under an existing licence and regulatory framework, significantly reducing time to market.
At the same time, we work with you to prepare your business for direct authorisation, ensuring a clear and structured transition to operating under your own licence once approved.
Typical FCA fees and waiting times (estimates based on experience as at 22nd January 2020)
Weeks
Application approval time
£ '00s
Application fee (non-refundable)
Days
Time for case officer to be assigned
%
Probability of success
AuthoriPay fees and waiting times
Weeks
Application approval time
£ '00s
Application fee (refundable)
Day
Time for case officer to be assigned
%
Probability of success
Benefits over becoming directly FCA authorised:
- A shorter and simpler application form for PSD and EMD agents
- Setup costs are cheaper than the FCA application fee
- Timeframes are much shorter, less waiting around and stalling your plans
- Our FCA compliance consultants can assist you with your own application should you subsequently decide on it
- Applying for FCA authorisation is likely to be more successful in the future due to your documented track record
- FCA compliance training and support is included
- Reg Data reporting is taken care of for you as a PSD or EMD agent
- No additional FCA authorisation fees (as well as the application fee, the FCA has annual charges for payment firms)
- You can avoid hiring extra staff to handle the FCA reporting burden
- The perfect option for startup payment firms who lack a track record and are impatient to test the water
Why not have an informal discussion today about your plans and the options we have to save you time and money?
Get in touch
AuthoriPay Ltd, Milton Hall, Ely Road, Cambridge, CB24 6WZ.