Internal Audits

Regular auditing is essential to ensure that your business remains compliant, avoiding enforcement action and penalties from the regulators.

In addition, audits highlight areas where your compliance processes have become too restrictive and onerous. In this way, audits not only protect you from risk, but also increase performance and effectiveness.

Every audit is different; the needs and concerns of the business dictate the breadth and scrutiny needed. Your Neopay partner will ensure that your audit meets your business requirements.

Your Neopay partner will then deliver detailed findings, based on the risks and priorities of your business. They will take time to ensure that you and your colleagues understand the findings and the options available to rectify any issues.

Third Party Audits

If you offer white-labelled or outsourced regulated services to your clients, you rely on them to abide by the appropriate controls and frameworks.

We provide support to organisations in this position, including payment service providers, authorised e-money issuers and deposit takers, and technology and platform providers, helping them to ensure the compliance of third parties whilst also speeding up the on-boarding process.

Through this service, we provide a detailed analysis of your new client’s business from a regulatory compliance perspective. We then work with the client to make any adaptations necessary to ensure they meet with regulatory requirements as well as any additional requirements of your business.

The benefits of these services for client on-boarding include:

  • Increased acquisition by reducing lead time and improving the on boarding experience
  • Increased profit, enabling your clients to go live and generate revenue faster
  • Reduced risk by ensuring that your clients’ internal control systems are robust and relevant for the sector in which they transact
  • Protection of your brand and reduced reputational risk

Once the client has begun generating revenue, we provide regular auditing to ensure they remain compliant and can also offer on-going compliance support with their operations as well as your own. We also regularly provide additional support and advice to further improve on-boarding and client management processes, increasing client retention and protecting your reputation.

Through this service, we support you in maintaining the quality of your business and provide peace of mind that your clients are maintaining the required internal controls.