MAP S.Platis, a regulatory and financial advisory firm, has obtained a Payment Institution license on behalf of one of its clients. The Central Bank of Cyprus granted this license.

MAP S.Platis in Financial Services

The company has continued in obtaining Payment Institution licenses throughout the year. The firm is currently assisting clients in their pursuit of Electronic Money Institution and Payment Institution licenses while providing support to clients who are already navigating the regulatory landscape.

Demetris Taxitaris, the CEO of MAP S.Platis Group, expressed his satisfaction: "For over two decades, MAP S.Platis has been engaged in the financial services industry, including fintech, and we remain fully committed to its growth. We leverage our team's extensive technical expertise and multidisciplinary knowledge to ensure the success of every application."

Taxitaris added: “Obtaining a neobank / digital bank license can often be a challenging process for firms, and this achievement underscores our commitment to helping our clients navigate the regulatory landscape and it's a testament to the hard work and unparalleled regulatory consulting expertise of our team.”

“We are proud [of] this significant milestone for our client, and we look forward to continuing to support our clients in their financial endeavours. We're thankful to the CBC for their cooperation and the positive outcome.”

Range of Services Offered by MAP S.Platis

Earlier, Finance Magnates reported that MAP S.Platis had successfully completed its second agreement with the Cyprus Securities and Exchange Commission (CySEC). Through this partnership, MAP S.Platis offered its expertise to assist CySEC in investigating possible infringements of regulatory standards by Cypriot Investment Firms, in response to the regulator's public tender 07/2020.

Cyprus is home to numerous financial service companies, and CySEC monitors market players for any violations. MAP S.Platis offers a wide range of services in regulatory technology, financial advisory, Blockchain, and professional training. Its regtech services, provided under the MAP FinTech brand, include regulatory reporting services, such as MiFIR reporting, EMIR and SFTR reporting, ASIC reporting, best execution monitoring and reporting, CRS/FATCA reporting, eKYC, AML transaction monitoring, and market surveillance, among others.