Canarie AI

Exam Preparation

Money Transmitter Exam Preparation for BaaS Platforms

Money transmitter examinations focus on licensing compliance, BSA/AML program effectiveness, and consumer protection. Canarie helps licensed money transmitters maintain evidence of compliance across multiple state jurisdictions. Specifically tailored for the unique examination requirements facing baas platforms.

More for BaaS Platforms

BaaS Platforms Exam Preparation Challenges

Oversight of multiple fintech partners
Demonstrating partner compliance to examiners
Scaling oversight with partner growth
Managing third-party risk at scale
Consistent compliance standards

Examining Agencies

State regulatorsFinCENCFPB

Exam Frequency

Annual or biennial depending on state

Preparation Steps for BaaS Platforms

1
Review licensing compliance across states
2
Compile BSA/AML program evidence
3
Document consumer complaint handling
4
Gather transaction monitoring evidence
5
Prepare permissible investment documentation
6
Document agent oversight activities
7
Compile surety bond compliance

Evidence Examiners Expect

Multi-state licensing documentation
BSA/AML program records
Transaction monitoring reports
Consumer complaint logs
Permissible investment records
Agent due diligence and monitoring
Surety bond documentation

Related Compliance Areas for BaaS Platforms

Third-party risk managementBSA/AML program oversightConsumer compliance oversightPartner due diligenceRegulatory examination management

Frequently Asked Questions

Transform Money Transmitter Exam Preparation for Your BaaS Platform

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