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Kyrylo Reitor

Chief Marketing Officer

International Fintech Business

Member since

06 Jun

Location

London

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Kyrylo's opinions

Upgrade of SPI License to API License in Poland

As of 2024, the Polish Financial Supervision Authority (KNF) has established clear guidelines for Specialized Payment Institutions (SPIs) looking to upgrade to Authorized Payment Institutions (APIs). This transition aligns with the demand for processing higher transaction volumes and delivering a wider range of services, reflecting the financial s...

20 November 2024 /payments /wholesale Digital Banking

Forex Market Regulation on the African Continent

Africa, with its rapidly growing economy and the dynamic development of financial markets, is increasingly attracting the attention of investors from around the world. The Forex market in this region demonstrates significant potential, but its growth is constrained by several specific factors requiring appropriate regulation. Regulation of Forex i...

15 November 2024 /security /markets Fintech

Future of SPI in Poland

The evolving regulatory landscape and increasing competition present both new opportunities and significant challenges for SPIs in Poland. Opportunities: Niche Markets: SPIs can successfully compete with large banks by targeting specific market segments, such as youth, small businesses, or by providing specialized services (e.g., for travelers). In...

06 November 2024 /payments /wholesale Payments strategies 2015-2020-2030

Top 5 jurisdictions to obtain EMI license in 2025

The European Payment Services Directive (PSD2) has ignited a fintech revolution across Europe, spurring the growth of Electronic Money Institutions (EMIs). As fintech companies seek to capitalize on this opportunity, understanding the most conducive jurisdictions for obtaining an EMI license is paramount. In 2025, these five European countries sta...

30 October 2024 /payments /regulation Financial Services Regulation

KYC and AML procedures - how to ensure compliance with international standards

Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are essential components of a robust compliance framework for financial institutions worldwide. These procedures help to prevent financial crimes, protect the integrity of financial systems, and mitigate risks associated with illicit activities. By adhering to international standa...

24 October 2024 /payments /inclusion Banking

10 mistakes when registering international companies and how to avoid them

Expanding a business internationally can be a lucrative venture, but it's essential to navigate the process carefully to avoid common pitfalls. Here are ten mistakes companies often make when registering internationally and how to prevent them: Inadequate Market Research: Failing to conduct thorough market research can lead to costly mistakes. Unde...

16 October 2024 /people /wholesale Business

E-money regulation in the EU

In the European Union, the regulation of electronic money (e-money) is a critical topic that bridges the gap between technological innovation and financial security. The legal framework primarily governing e-money in the EU is the Second Electronic Money Directive (EMD2), which was adopted in 2009 and implemented by Member States in 2011. This dir...

09 October 2024 /security /regulation Banking Regulations

Checking the reliability of correspondent bank accounts - 5 steps

Correspondent banking relationships are vital for facilitating international transactions. However, the reliability of these correspondent bank accounts is crucial for mitigating risks, including fraud and financial instability. Here are five essential steps to ensure the reliability of correspondent bank accounts. Step 1: Verify Regulatory Compli...

02 October 2024 /security /regulation Financial Services Regulation

What is an EMI in fintech?

In the landscape of fintech, electronic money institutions (EMIs) are authorized to issue electronic money (e-money), which is a digital alternative to cash, stored on electronic devices or remotely at a server. As fintech continues to disrupt traditional banking, EMIs are at the forefront, facilitating seamless, innovative financial services. An ...

25 September 2024 /payments /wholesale E-commerce

How to Get an Electronic Money Institution License in the EU?

Securing an Electronic Money Institution (EMI) license in the European Union is a pivotal move for businesses wanting to offer electronic payment services. This license not only boosts a company's credibility but also allows it to operate across all EU member states. Here’s a streamlined overview of the licensing journey. 1. Grasp the Regulatory ...

18 September 2024 /payments /regulation Electronic Bank Account Management