Case Study: FMPay secures MFSA approval and saves €60K with Copla

FMpay secured regulatory approval while saving €60K on compliance costs

FMPay, a fast-growing fintech company, faced the challenge of securing regulatory approval from the Malta Financial Services Authority (MFSA) and complying with DORA while expanding across Europe. An in-house compliance officer would have been costly and time-consuming. To address this, they partnered with Copla for its compliance platform and CISO-as-a-Service offering.

By leveraging Copla's external expertise, FMPay offloaded 80% of its compliance responsibilities. This solution enabled them to secure MFSA in-principle approval, achieve DORA compliance, and save over €60,000 in costs. Copla’s support accelerated FMPay's European expansion and allowed them to reallocate resources from compliance overhead to business growth.

FMPay

Roman Loban

Managing Director