Compliance case Flow Money Automation

After successfully assisting the PSD2 licensing process of Flow Money Automation, Enigma fills the Risk & Compliance position at this fintech startup. Flow has developed an app with which users, mainly private individuals and self-employed people, gain better insight in their own finances and can actively work towards future financial goals by placing money in separate wallets.

Enigma’s experts use a systematic approach to help Flow to identify risks, provide advice on the implementation of new processes and monitor existing processes in order to optimize them. Careful risk management is always the starting point in these activities, although operational feasibility is also included as a factor in the advice. This certainly applies to a young fintech startup like Flow. Holding a license to provide both account information and payment initiation services, the compliance burden is considerable.

Thim Donkervoort
Thim Donkervoort
Senior Legal Consultant
Flow logo

From frequent compliance sessions with the board, the organization is kept “compliance fit”. Whether it’s about implementing a solid know-your-customer policy or mapping out the regulatory aspects of international expansion: Enigma’s Risk & Compliance professional brings the necessary knowledge and experience to bear for the realization of well-considered board decisions.

Niels Mulder, founder and COO Flow Money Automation