Compliance Infrastructure Setup for EMI Applicants

When applying for an Electronic Money Institution (EMI) license, compliance is not just paperwork. Regulators expect a real, working compliance infrastructure before approving your licensing application. Here’s what EMI applicants must have in place. 1. AML and KYC Framework A strong Anti-Money Laundering (AML) and Know Your Customer (KYC) system is essential. This includes: Customer identification procedures Risk-based customer classification Ongoing transaction monitoring Suspicious activity reporting process Policies must be tailored to your business model, not copied templates. 2. Risk Assessment Structure Regulators want to see a documented risk assessment covering: Operational risks Financial crime risks Technology risks Cross-border exposure You must clearly explain how each risk is identified, measured, and controlled. 3. Compliance Officer and Governance An EMI applicant must appoint: A qualified compliance officer Clear reporting lines Defined management responsibilities Expe