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About us

Green Swan Compliance - Swan Leading

APP Scam Reimbursement Insurance 

In partnership with Elmore Insurance Brokers APP scam insurance is now available to qualifying UK banks, Payment Service Providers (PSPs), E-Money Institutions (EMIs), and Authorised Payments Institutions (APIs).  

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The new APP rules come into force on the 7th of October 2024 and are a potential minefield for many Financial Institutions - particularly small to medium-sized firms. Although this new bold action is designed to help improve fraud prevention, it is highly likely to create significant new risks and have unintended consequences for many UK banks, EMIs and APIs as well as their Agents and Distributors.

 

Our innovative solution takes a proactive approach to providing APP Scam Insurance, combining our digital patented audit technology (RAaaS) to help mitigate risk and exposure from these new regulations.

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APP Scam Reimbursement Insurance products will be tailored to your individual requirements with the application and supervision process supported by Green Swan’s digital compliance services.

 

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Mission
Our Mission
Enhancing the strength and resilience of UK Financial Institutions with digital Regulatory Audits as a Service (RAaaS) and Authorised Push Payment (APP) Insurance.

Next generation auditing - Regulatory Audits as a Service (RAaaS)

Our patented* RAaaS model offers a unique 'blended' approach to auditing and reduces the time, cost, and pressure to your teams.

 

By combining traditional techniques with behavioural dynamics, RAaaS delivers added insight to help you drive change and improvement giving you digital tools and algorithms to see where the key issues are allowing your teams to 'do the right things' as well as 'doing things right'. 

Our unique approach not only takes the stress and uncertainty out of audits, it provides a non-bias, scalable, consistent solution ensuring you always remain aligned to the regulatory requirements and FCA principles.

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Meeting the specific needs of Agents and Distributors working with a principle EMI, each audit is measured against current EMI regulations and the FCA principles-based regulatory risk management framework.

 

RAaaS can also be used as a health check or internal audit to give you a 10x improvement on your Compliance, AML & CTF spending. Watch the introductory video. 


* Patent No 20060206287

You need us if you are:

  • on the PSR's Special Directive 20 (SD20) list or if your firm is exposed to Authorised Push Payment (APP) Scam reimbursement and you need APP Insurance

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  • EMI or EMI principle looking to improve yourself or Agent and Distributor supervision 

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  • EMI Agent or Distributor trying to evidence your operations are up to standard

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  • EMI with dormant funds and want a wind-down plan that will work in real life.

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Team

Our Team

We are a team of experienced EMI practitioners, technologists and compliance experts.

We have extensive first-hand experience in launching new EMI businesses and day2day EMI operations from start-ups to global enterprises.

We are well-versed in the challenges of operating as an EMI principle with Agents and Distributors, and the practical limitations of being an Agent.

Our beliefs empower our culture and values 

Regulatory Audits have an important role in ensuring firms are "Doing the right things". However, annual audits conducted manually,  based on historical information, small sample sizes, and interviews with a small number of 'selected staff' have serious limitations in a fast-paced dynamic industry.

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When things go wrong value destruction EMI businesses their Agents and Distributors, and consumer harm can be dramatic.

 

RAaaS has been designed to help you proactively reduce risk and increase the resilience of your business. 

 

We believe that the future requires digital behavior-driven audits augmented with machine learning and AI. RAaaS can be combined in a blended manner with traditional skilled auditors will create a stronger and more resilient EMI industry.

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