E-Money
The scale and complexity of the electronic money industry continues to develop apace as technological advance offers more and more opportunities for firms to provide services to a developing customer base. Indeed, the use of card and virtual e-money wallets in an increasingly "online" market place point to some interesting opportunities for financial services firms. Understanding the regulatory framework in relation to e-money is of key importance to firms looking to develop their e-money issuer proposition.
The FSA regulatory regime around e-money is still something of a niche area, and is one where Bovill has particular strength, having worked with a number of e-money issuer firms to assist them navigate the regulatory perimeter and obtain FSA authorisation. In addition, key members of our team have firsthand experience of the regulator's approach to the regulation of e-money issuers.
As further regulatory change in this sector is consulted on in the UK, Bovill is in a position to assist firms to understand the impact of change on their existing business, or to make the most of a developing marketplace whilst remaining compliant with the regulatory requirements.