API Licence
Delivering outstanding results
UK – Authorised Payment Institution Setting up your API Licence
The API licence application process is much more in-depth than the SPI licence. A large amount of documentation must be drafted for this licence, including a full business plan, a detailed programme of operations, risk management plan, business continuity plan, etc. This is a more serious undertaking and involves considerable preparation by both our firm and the applicant.
We recognise that each company is unique and that the time required in preparing the application will vary depending on their specifics, but we aim to have all applications completed within 4-6 weeks. The FCA will process a complete application within 3 months of receipt of a complete application. You should allow a minimum of 4-5 months to get the company up and running.
Global Fintech Compliance can handle the application process from start to finish. We offer a flat-fee structure for the application which includes unlimited follow-up with the FCA until the licence is granted. Small Payment Institutions (SPIs) looking to upgrade to API status should contact us to discuss their requirements
