EMI EMD-AGENT FULL TURN KEY SOLUTION
You are interested to get into the EMI payment services business but you don’t have the resources or experience to create and manage your own EMI on your own. We can offer you turnkey EMI EMD-AGENT FULL TURN KEY SOLUTION application solutions inclusive not only of the legal set up but also full banking software solution, mobile payment application, and even integration with centrolink and Sepa payment, as well as international payment solutions and currencies exchange services. For more information connect@swissfintechpro.com
THIS POST IF FROM 2022 AND IS OUTDATED
FOR OUR MOST RECENT OFFER OF EMI EMD-AGENT FULL TURN KEY SOLUTION PLEASE CLICK HERE
With our turn Key Solution, you will become an EMI agent and will be able to issue IBANs to your clients and initiate cross-border payments. You can concentrate on marketing while we will be handling client onboarding, KYC, AML, Compliance, Reporting with bank of Lithuania, System development, updates and monitoring etc….
Please contact us for more information at connect@fintechsetup.com
OUR OFFER IS INCLUSIVE OF FOLLOWING SERVICES
- Incorporation of the Agent Company in Lithuania – Included
- Opening of a corporate bank account for the agent company – Included
- Introducing the EMI that will provide the umbrella license to your agent company – Included
- Preparation of the EMD application – Included
- Submitting the EMD application and following it up until it is granted – Included
- System set up and configuration according to business specifics – Included
- Integration with CENTROlink for SEPA – Included
- Payments clearing – Included
- User rights configuration and user training – Included
- Access to system’s documentation and support portal – Included
- Online Banking set up – Included
- Mobile application set up – Included
- Connection to 3rd parties – Included
Setup timeline: 1-2 months
Testing with CENTROlink: up to 1 month
Government fees – Not Included because we cannot calculate them in advance but they are not expensive
SYSTEM FEATURES
Online Banking
- For private and business customers
- Local and international payments, currency exchange
- Account statements, operation status,
- Customer notification
- Mass payments, import and export of payments
- Payment templates and beneficiary lists
- Different levels of signing
Mobile Application
- Android and iOS native
- Remote new customer onboarding
- Identity verification via 3rd party
- Know-your-customer
- Push notifications, a.k.a. webhooks
- Strong customer authentication
- White label design with your logo and brand book
- Helps with publishing branded mobile app at Play Store & App Store
3rd party connectors via API
- with an EMI registered in the UK. Provider of currency exchange and international
- payment functionality
- with an IT company in Lithuania. Provides online identity verification and identity document check. Implemented in Mobile app.
- with a Leading provider of enhanced sanction lists (PEP, adverse media, etc.) and transaction monitoring solutions
OUR FEES
Our Fees for all those solutions are 129,000 Euros and are inclusive of VAT
Initial Set up fees – Terms of Payment
Deposit: 99,000 Euros
Upon completion: 30,000 Euros
Monthly service fee: 6500 Euros per month
The monthly fees is inclusive of the following services
Client Management
- Client onboarding,
- Client compliance, KYC and AML
Reporting to Financial Authorities
- Reporting to the Bank of Lithuania, etc.
System monitoring, software updates
- System maintenance and monitoring
- New updates and system versions
- Monitoring and maintenance of Centrolink and other integrations
- Service Level Agreement
- Developer documentation with API web services description
OPTIONS
- It could be possible to integrate solutions for crypto exchange and trading. This would result in additional costs from 25k to 35k Euros.
- We are currently integrating visa and master cards options. Integrations will take a few months after which we will be able to offer EMD Visa or Master card solutions as well.
BENEFITS OF THIS SOLUTION
The agent will benefit from the following additional advantages
- The sub-licensee does not need to make and maintain the required reserve deposit of 350,000 Euros minimum, which is useful for starting a new business.
- The sub-licensee will be in business in 8 to 12 weeks, as opposed to 12 months if applying for their own license.
- The agent’s license will have the same content as the main license, i.e.:
(a) Services for placing money in a payment account
- b) Services to withdraw cash from a payment account
- c) Execution of payment transactions (not covered by a credit line)
(d) Execution of payment transactions (covered by a credit line)
- e) Issuance of payment instruments or acquisition of payment transactions
- f) Remittance of money
- g) Execution of payment transactions through a telecommunications operator, computer systems or networks
- h) Issuance of electronic money
- The agent’s registration will appear on the website of the Central Bank.
- It can be used for business with individuals as well as with companies.
THIS POST IF FROM 2022 AND IS OUTDATED
FOR OUR MOST RECENT OFFER OF EMD AGENT PLEASE CLICK HERE
For more information on our EMI EMD-AGENT FULL TURN KEY SOLUTION at connect@swissfintechpro.com
