My Compliance Centre has launched Pay Assure, a compliance management system for the FCA’s increased supervision of payments and emoney firms.
The UK regulator recently reinforced requirements around protection, governance, and operational resilience, saying that smaller firms must meet the same standards as large banks. Pay Assure is here to offer firms the automation, structure, and evidence they need to comply.
Supporting firms with compliance and automation
The payments and emoney sector in the UK is made up of over 1,000 FCA-regulated companies that serve customers and businesses alike, many of which are now forced to replace manual processes that can no longer keep pace with supervisory demands. My Compliance unifies compliance technology with its experience in governance and operational oversight to offer businesses the ability to record and evidence their compliance with the functions required by the FCA.
This may include daily safeguarding measures and capital adequacy reporting, incident management, protection resolution packs, and operational resilience registers, all in one automated process. These features offer management teams continuous visibility over compliance activity, board approvals and audit trails.
The company thinks that the regulatory expectations are increasing rapidly, and the FCA now expects every firm, regardless of size, to demonstrate strong governance and safeguarding. Pay Assure was designed specifically to support firms in this transition, automating key processes that reflect compliance and trust.
The solution offers companies of all sizes clarity in the ever-changing regulatory landscape, eliminating the need for spreadsheets and manual follow-ups to manage critical tasks. The platform brings everything into one place, offering the structures firms need to comply. Pay Assure is available in three pre-configured options, allowing firms to select the level of capability that best matches their size and maturity.
Each package is created to simplify oversight, minimise manual effort, and make sure that the evidence required by regulators and banks is always prepared to be showcased.
