FinTech and MSB Consulting

We have more than ten years’ experiences of running MSBs being in divergent capacities including compliance & legal, accounting, management, and strategic leadership.  We offer a full range of advisory and business services for money service businesses (MSBs), FinTech startups and other non-bank financial institutions (NBFIs). Our popular services include license processing, shaping regulatory and BSA compliance program, independent review, setting up a proper set of standard operating procedures, corporate director service, creating cross-border payments network, professionally developed business plan, internal and external audit. We do offer strategic planning, turnaround management, linking prospects in merger and acquisition transaction and subsequent execution, valuation of MSBs and FinTech startups. We offer such services all over the States, Canada, UK, European countries, Malaysia, Singapore and in a lot more countries.  Just leave a short note about your intention to go forward.



MSB-Fintech Startup Solution

We offer the following services to assist you to start your money service business from scratch;

  • Incorporating your entity, including advice on entity types;
  • Applying for an employer identification number (EIN) to IRS;
  • Advise on state-specific money service business requirements;
  • Registering your business with the state agency, if required. For example, NJ businesses need to register.
  • Registering a fictitious name, if required;
  • Assisting in the opening of a bank account for the entity;
  • Foreign company incorporation whenever expanded to other states;


Licenses & Permits

We offer fully serviced license application service to assist you to get the money service business license in your target state or country;

  • Preparing prescribed application forms;
  • Prepare a professional business plan;
  • Preparing financial statements;
  • Preparing financial projections;
  • Assisting in getting a surety bond;
  • Setting up governance structure and list of key executives;
  • Setting up BSA compliance programs;
  • Registration with FinCEN;
  • Preparing standard operating procedure;
  • Agent recruitment and control procedure;
  • Assisting in fingerprinting for key people;
  • Arrange background investigation reports;
  • Preparing a specimen copy of the proposed agency contract, etc;

Even though the above list is for money transfer companies, we process other types of MSB (Check Casher, Money Order/Traveler’s Checks Issuer, Seller or Redeemer, Currency/Foreign Exchange Dealer, Prepaid Access Provider or Seller) licenses as well to process following relevant state requirements. We can explain the full list of requirements in our consultation session.


Cloud Accounting Set up

We offer a cloud accounting solution backed by Quickbooks online cloud-based platform. We will help you to integrate your Quickbooks with your company’s transaction processing system, bank accounts; merchant accounts (for the online service provider). Integration with credible third-party apps will help you to import all transaction in a very fast environment and will help in decisions based on real transactions data. Cloud accounting will establish secured data sharing and will establish appropriate financial statements within the deadline. We provide very customized quote evaluating your business environment and transactions volume. Available features include-

  • Managing accounts receivable;
  • Managing accounts payable and recurring bills;
  • Pay W2 employees and file payroll tax;
  • Managing 1099 contractors;
  • Quickbooks set up and support;
  • Key performance indicators (KPIs) dashboard;



Management Advisory

We can advise money service businesses in divergent ways including but not limited to-

  • Turnaround management: Your entity or any specific line of business or any specific subsidiary or any specific corridor may not performing as expected, let us help you using our fresh perspective and knowledge of MSB industry success factors. We are open to any discussion beyond the box to succeed your business.
  •  Payment network: We can help you to create a payment network for your business through approaching credible payment partners and can process due diligence and documentation parts as per your policy if have one.
  • Professional business plan: We can print and explain your ideas in professionally developed methods making it realistic and achievable. Our business plan may help you to persuade the regulator, investors or other stakeholders.
  • Internal audit: We can help you to develop, implement internal audit plans; and write detailed reports based on performed procedures as per the plan.
  • Standard operating procedures: We can depict your workflows introducing consulted extent of segregation of duties and introducing other internal control tools aligning with your existing policies, procedures, and practices. 
  • Transaction processing and management information system: We can evaluate and advise on software used to run core business like POS, compliance platform, accounting integrations, etc. considering your specific situation. Planned development of software keeping proper segregation of duties in control function and aligning them with the business objective is one of the major challenges for small and medium MSBs.


Regulatory, Corporate & BSA Compliance

We offer regulatory compliance services for financial institutions, where we identify all regulatory requirement in a single place, implement a structure involving operation, compliance and internal audit so that the entity runs the operation in compliance with rules, regulations and written operating procedure developed in a consultative manner.

Depending on types of money service businesses, we can create a BSA compliance program aligning with requirements, your operating processes and governance structure. Having written compliance programs is one of the key prerequisites for money service businesses. Besides that, we can offer an independent review service to evaluate appropriateness and adequacy of your compliance programs and its implementation across your organization.

We help our money service business clients to prepare federal, state and local tax returns, pay the taxes as per the requirements. We do assist in IRS audit and resolution service.

We can help you with submitting your annual/biennial corporate return to Secretary of State specifying appropriate information. Our services include renewal of fictitious name as well.


Transaction Services

Backed by our money service business’ development and running experiences, we have rich networks and connections in this industry across the globe. If you are willing to sell or buy the target MSB business, we can mediate confidentially and with due professionalism. Moreover, as being a CPA firm, we can provide valuation and acquisition-merger transaction services.