Goals of the blog


Since 13.01.2018, various FinTech startups fall under one of the newly regulated PSD2 authorisations in Germany or are already being confronted with existing licensing requirements in the start-up phase as a FinTech. This despite the fact that their strengths lie in the creative development of customer-friendly use cases and in following up on established processes, rather than the successful implementation of existing standards and rules.

In this blog, you’ll be assisted with financial supervision as a PSD2 licence novice at the outset to show the positive potential of PSD2 and to give practical tips for the most important steps in seeking a licence. The “painful” effects of a licence requirement will also be addressed and solutions will be offered.

I will happily accept feedback and suggestions in order to set priorities or expand my own questions. This blog, however, represents my personal views. Unfortunately, it cannot address highly specialised legal disputes specific to certain companies in the topics it covers, as PDS2 content is for such purposes specific to products and services.

The goal of this blog is to help start-up executives – even without a background in compliance or law – understand what regulation means for them.

The figo Compliance Blog will be supplemented by specially selected guest contributions which will shed light on the PSD2 and general compliance topics in various ways with the aim is to explicitly incorporate the views of FinTech entrepreneurs.

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The author


With a background in commercial law Cornelia Schwertner spent years working as a Manager for PwC within its Forensic Services unit, where she advised clients from the financial services sector on the prevention of fraud, money laundering and the violation of financial sanctions. After working as an Anti-Money Laundering and Anti-Fraud officer in the financial services industry, she joined the Banking Service Provider and FinTech figo GmbH in 20
16. Here she drives the implementation of PSD2 from a market perspective and managed the project that brought figo its payment institution licence. Since August 2018, she has been managing figo’s regulatory compliance in the role of a Chief Risk Officer (CRO).
Since the beginning of 2017, she is also Co-Chair of the European FinTech Alliance. EFA was founded in 2016 and as a growing alliance represents the interests of FinTech companies vis-à-vis the institutions of the European Union.
(Twitter: @co_schwertner)