What DLK provides with the KIP/KIPE license

PREPARATORY STAGE

• assessment of entity and service compliance with KIP/KIPE licence requirements (procedures and policies, capital and funds, partnership models, user agreements and regulations)
• corporate set-up or implementation of corporate changes (share capital increase, changes in company bodies)
• legal qualification of services in terms of allocation to specific payment/e-money services
• drafting of service descriptions and diagrams

APPLICATION DOCUMENTATION STAGE

• a sample business programme and financial plan for the first three years of operation, to be completed by the Principal with figures and concrete solutions and objectives
• model internal procedures (risk management, internal control, AML/CFT, security strategy, outsourcing, statistical data, BCP, incident management, complaints, protection of user funds, organisation and management, staffing) to be approved by the Principal and supplemented by specific solutions
• model framework contract (rules of procedure) for the provision of the payment service
• model outsourcing or agency contract
• assistance in the operationalisation of the sample documentation
• dedicated forms for the Principal’s managers and shareholders for collecting guarantee information (education, experience, history)
• instructions on the documentation to be collected by the Principal (certificates, statements, documents)
• calculation of the required and own funds on the basis of the data provided by the Principal
• assistance in obtaining insurance/guarantees (in case of providing PIS/AIS services)
• application to the supervisory authority for a KIP/KIPE authorisation

PROCEEDING STAGE

• periodic communication with the authority on the progress of the case
• drafting of responses to requests for additional explanations and documents
• making any adjustments required by the authority in the course of the proceedings
• uobtaining a licence (including obtaining a formal confirmation of receipt of the licence along with the establishment of the licence date)

START-UP STAGE

• assistance in updating information in registers, letters, websites
• guidelines for filling all posts and functions as well as registry changes
• workshop on the execution of internal procedures
• instruction on the payment of supervisory fees
• instruction on the execution of reporting obligations
• negotiation of an account agreement for the protection of users’ funds