tell.money partners with Moorwand for PSD2 compliance
By Gloria Methri
tell.money, the provider of PSD2 compliance solutions, has joined forces with Moorwand, an E-money Institution (EMI), to help address full compliance and avoid regulatory non-compliance consequences.
David Monty, CEO of tell.money, said, “The partnership showcases how EMIs can protect themselves against regulatory risks while empowering them to grow their business in the open banking landscape.”
Regulatory breaches can have dire consequences for EMIs, ranging from intrusive investigations and aggressive deadlines to severe fines, programme shutdowns, and restrictions on new business activities. To meet the compliance requirements of the Second Payment Services Directive (PSD2) for an open banking “Dedicated Interface”, and mitigate the risks associated with non-compliance, Moorwand has chosen to partner with tell.money.
Luc Gueriane, CEO at Moorwand, said, “This strategic alliance not only provides Moorwand’s clients with a robust and cost-effective compliance solution but also equips us with the necessary assurance mechanisms and regulatory reporting capabilities.”
tell.gateway, the flagship Dedicated Interface product offered by tell.money, enables clients to deploy an end-to-end PSD2 solution within weeks, or even days in some cases. tell.gateway not only offers advanced technology but also includes a comprehensive range of services crucial to Moorwand’s decision-making process. These services, which played a vital role in the company’s compliance assurance, include Regulatory Reporting, and Conformance Certification.
Without these critical services, regulated providers like Moorwand would lack the means to satisfy reporting requirements or evaluate the suitability of client implementations.
This business protective and enabling partnership between tell.money and Moorwand sets an industry standard that others will want to emulate, ensuring that EMI providers can confidently navigate the complex landscape of regulatory compliance while offering secure and compliant payment account services to end users.
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