Understanding Consumer Credit and FCA Authorisation
Get Started With Consumer Credit
We assist businesses to implement Consumer Credit into their business model. Our team take the time to understand your business and set out a complete plan from applying to the FCA, to reviewing documents, policies and procedures.
What Do You Need To Offer Consumer Credit?
Before you can offer consumer credit and related services, you must be authorised by the Financial Conduct Authority (FCA). FCA authorisation is required for a wide range of services including: lending money; selling goods or services on credit; leasing or hiring out goods for a long period of time, or serving as a third party who arranges credit for others.
To secure authorisation, you need to apply to the FCA. This can be a time-consuming process and involves reviewing your current documentation, business plans and policies to confirm that your business model is fit to offer consumer credit, while remaining fully compliant.
How We Can Help
Our team take the time to understand you and your business
We set out a custom plan outlining the required steps to gain FCA authorisation
We carry out a complete review of your documentation, policies and processes
Our training and ongoing support will ensure your compliance is maintained
Not sure what you need?
Get in touch today
Frequently Asked Questions
From the first meeting with our consultants to a final decision by the FCA, the application process can take up to six months. Much of this time will be taken up by the FCA’s review of your application, which includes a thorough review of your business plan to confirm that your business model is fit to operate in good standing as a member of the UK’s financial services industry.
Our team offers a complete review of your documentation and can help you secure any documentation that you will need.
That’s fine! Our team takes the time to understand your business needs and set out a plan with the services you require.
Our Other Financial Sectors
Whether you are a large company, or a small start-up, it can be tough to keep up with the ever-changing landscape of payment services and what businesses need to do to stay compliant.
Regardless of the payment service(s) that your business provides, we help you understand your obligations and apply for authorisations quickly, confidently and successfully.
If your business is involved with the cryptocurrency sector, then we help you to understand the various money laundering regulations that you will be subject to.