If you offer your customers credit as a service, you need to have consumer credit authorisation. Our consultants will ascertain the activities that are appropriate for your business and the permissions you require to provide them before helping you build a coherent application to the FCA.
Contact usIf you offer credit to your customers as a secondary service, FCA Limited Permission authorisation is essential.
If consumer credit is your business’s sole purpose and how you generate your revenue, you need FCA Full Permission authorisation.
Our consumer credit authorisation services are designed for businesses that provide credit to customers, either as their main activity (e.g., lenders and credit brokers) or alongside other services (e.g., motor deals and membership-based businesses, like golf clubs and gyms).
The appropriate permission depends on the activities performed, the customer journey and the firm’s role in the transaction. We will assess these factors before recommending the relevant application route.
Our highly-skilled FCA authorisation consultants will guide you through the process of applying for consumer credit authorisation, helping you identify which permissions you need, understand the requirements and obligations and prepare an application that meets FCA expectations.
Once we have determined what type of consumer credit authorisation you need, we will help you craft a clear and coherent application.
We will advise you on the key evidence you need to include to clearly demonstrate the governance, systems and controls you have in place to operate in the UK consumer credit market.
We will also help you with any FCA follow-up questions and information requests.
Our consultants are former FCA employees, so they understand what makes a good-quality FCA consumer credit authorisation application.
You will always know how much you are paying and what you are paying for.
We have helped hundreds of businesses across the UK get consumer credit authorisation.
That will depend on the nature of your business but we will assess your business model and identify the permissions you need.
You will need to submit an application through the FCA’s Connect system. Our consultants will help you prepare your application to ensure it’s thorough and in line with FCA requirements.
Yes, you can vary your permissions if you want to change your regulated activities. To do this, you will need to submit a Variation of Permission (VoP) application to the FCA, demonstrating how you meet the requirements for the new type of permission.
FCA regulation and compliance can be complex, but we will help you navigate the process, allowing you to expand your business and create new revenue streams.
Contact us to talk to our friendly team about your requirements.