Payment and e-money institutions operate under some of the most demanding regulatory expectations in the UK. Safeguarding, operational resilience, governance, outsourcing oversight, customer protection and financial crime controls all sit high on the FCA’s supervisory agenda.
Yet despite this, many PSPs continue to rely on spreadsheets, shared drives and manual workflows to manage complex and fast-moving compliance responsibilities. These tools may have been sufficient years ago, but they can no longer keep pace with today’s regulatory environment.
The Compliance Challenge Facing PSPs
Manual processes create challenges for payment firms, including:
- Lack of real-time oversight
- Difficulty maintaining complete audit trails
- Inconsistent record-keeping across teams
- Increased risk of data loss or error
- Slow response times to FCA requests
- Fragmented safeguarding and risk documentation
As scrutiny increases, firms need stronger operational controls, not more spreadsheets.
Why Digital Transformation Is Now Critical
PSPs are expected to demonstrate clearer governance structures, stronger processes and evidence of ongoing monitoring. The FCA increasingly expects firms to show:
- Up-to-date safeguarding reconciliations
- Documented risk assessments
- Robust oversight of outsourcing arrangements
- Centralised governance records
- Proactive risk controls
- Proof of monitoring and escalation
This requires structure, transparency and consistency, all of which are difficult to achieve through manual processes.
How ComplyPortal Supports Payment Firms
ComplyPortal provides a unified compliance platform tailored to the needs of PSPs and e-money institutions. It replaces fragmented manual processes with an integrated solution that gives firms:
- Automated Workflows
Replace repetitive administrative work with automated task scheduling, reminders and escalation.
- Safeguarding Oversight
Track reconciliations, documentation and controls in one place with clear visibility for senior management.
- Real-Time Insight and Reporting
Generate regulatory reports and dashboards quickly and accurately.
- Documented Audit Trails
Every action is logged, timestamped and accessible, strengthening accountability.
- Governance Made Simple
Centralise policies, approvals, training records and risk assessments.
- Strengthened Operational Resilience
Ensure continuity with structured processes and consistent monitoring.
Future-Ready Compliance for a Fast-Moving Sector
Payment firms operate in a high-growth, high-scrutiny environment. The firms that are thriving are the ones embracing digital solutions that improve oversight and reduce operational burden.
With ComplyPortal, PSPs don’t just meet regulatory expectations, they stay ahead of them.
Conclusion
Manual spreadsheets are no longer sustainable for payment firms navigating complex compliance obligations. A modern, structured platform enables teams to work efficiently, demonstrate compliance clearly and maintain a strong position under FCA supervision.
ComplyPortal gives PSPs the tools to scale, safeguard and supervise with confidence.
👉 Book a demo to explore how ComplyPortal supports payment and e-money firms:
