Regulatory and Compliance Expertise

Monday

January

2022

Obtaining approval, or how to support the emergence of a new payment player

Supporting our client, Spendesk, in the operational deployment of the compliance and internal control systems presented to the regulator to obtain its Payment Institution (PE) licence.

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Challenge

The objective of the assignment was to assist our client in the concrete implementation of the compliance and internal control systems presented in the context of its application for Payment Institution (PE) approval.

Transforming a promise of compliance into an operational reality is a challenge that requires the cross-functional involvement of internal teams, aligning business issues with the operated controls in order to ensure the control of activities expected by the Management and the Regulator.

The perfect match

Operational deployment of compliance and internal control systems

Successful deployment of the Payment Institution (PE) licence

And concretely?

Operational reality

taken into account

Compliance culture

developed

Control

of activities and anticipation of problems

Our methodology

Understand the business being conducted and the promise of compliance made to the regulator in order to turn it into an effective operational reality.

Immersion

Understanding the client's context, issues and organisation through a series of interviews with key contacts and analysis of existing processes.

Analysis

Analysis of all the risk maps, compliance procedures and internal controls provided as part of the application for accreditation validated by the ACPR.

Deployment

Identifying and planning priority actions; assigning roles and responsibilities; supporting the implementation of the necessary processes, controls and reporting in the operational activities through a pragmatic approach and an alignment of the business challenges and the need to control the activities.

Advice

Providing ad hoc advice to support internal transformation and develop a culture of compliance and internal control.

Crossed views

I am very proud to be able to accompany the transformation of one of the most beautiful French Unicorns, for which regulatory compliance is not a constraint but a real lever of value, and to contribute to the flourishing European ecosystem.

Lise Loung

Manager | Oaklen Consulting

While we were in the middle of implementing our Payment Institution, Oaklen came to help us. Despite the very dynamic environment of a scale up, the Oaklen team was able to help us consolidate our regulatory framework, so that we could launch in the best conditions.

Axel Cateland

CEO | Spendesk Financial Services

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