Key Objectives
- Obtain a Payments Institution (PI) license from the Bank of Greece for the provision of Merchant Acquiring services for newly established subsidiary of two systemic banks
Our Approach
- Identified the requirements for obtaining a PI license based on the regulatory framework set by the BoG
- Supported the newly established subsidiaries of two systemic bank with the drafting of required policies and documents
- Project managed the communication with the Bank of Greece for the resolution of all comments from the regulator up until the license granting
Impact for our Client
- Obtained Payments Institution licenses from the Bank of Greece for the provision of Merchant Acquiring
services on expedited timeframes, allowing the on-time closing of transactions that constituted key parts of two systemic Banks’ capital plans.
