EMIs & MSBs
Core banking software for EMIs and MSBs
The licence tells you what you must prove: client money safeguarded, transactions monitored, every action attributable, statements that tie out. FinLabCore is a core banking platform built to produce those proofs, because it keeps its own double-entry books underneath everything else.
The licence is the easy part
Safeguarding you can prove. Client funds are safe is not a slide, it is a reconciliation the regulator can ask for on any date. A dashboard over a provider’s omnibus balance cannot produce it.
Monitoring that acts, not reports. Screening after the fact is a finding waiting to happen. The obligation is to hold, reject or escalate before money leaves.
An audit trail that survives an audit. Balances edited in place, corrections without history, actions without names, every one of these becomes a remediation item.
Statements that tie out. Your financial statements and your product must be the same numbers. If finance rebuilds them in spreadsheets each quarter, they are not.
E-money institution software, mapped to the obligations
| Regulator’s expectation | Where FinLabCore answers it | Status |
|---|---|---|
| Safeguard client funds, segregated and reconcilable | Client funds booked as liabilities, separated from own funds; safeguarding reconciliation with dedicated reporting | Live |
| Screen and monitor transactions | Every payment compliance-screened before it leaves; hold, rejection or action-required outcomes; per-client limits sensitive to risk rating, PEP and US-person status, transaction monitoring | Live |
| Know your customer, tiered due diligence | Corporate and individual KYC/KYB onboarding with identity and risk verification, tiered client levels, country eligibility rules | Live |
| Govern who can move money | Multi-signatory mandates plus back-office approval; four-eyes controls; pricing and routing changes separately audited | Live |
| Produce financial statements and withstand audit | Classical chart of accounts; write-once entries; balance sheet, P&L and trial balance straight from the books via the reporting suite | Live |
| Report to the regulator (FINTRAC) | Suspicious-transaction reporting data exposed in regulator-ready shape for a downstream compliance tool to file, regulatory reporting | In development |
| Run operations accountably | Separate client and back-office access domains, RBAC, full attributable history, the back office | Live |
The statuses are the honest ones. What is in development is labelled in development, you are building a regulated institution on this; you deserve to know exactly what is live.
Your books, your financial statements, safeguarding that reconciles
Everything in the map above rests on one architectural decision: the platform owns its books. Client money sits as a liability to the customer, against bank-side positions that keep safeguarded funds separate from the institution’s own. Balances are derived from balanced, write-once entries with dual valuation and daily FX revaluation, so the statement a client sees, the trial balance your accountant files and the safeguarding reconciliation your regulator requests are all the same engine’s output.
For an EMI or MSB this is the difference between asserting compliance and demonstrating it.
MSB software for Canada: Interac, ACH/EFT and FINTRAC-ready data
Running a Canadian MSB takes more than a generic global payments checkbox:
- Interac for everyday Canadian transfers.
- ACH/EFT and equivalent batch rails as the low-cost domestic option, alongside fast and instant payments, see local & instant payments.
- SWIFT and SEPA for the cross-border side of the business.
- Regulatory reporting automation is in development, beginning with FINTRAC-oriented data: the platform exposes suspicious-transaction reporting data in regulator-ready shape for a downstream compliance tool to file.
Few platforms in this category treat the Canadian stack as first-class. FinLabCore runs it in production today.
Running live under real obligations
Montowire, a multi-currency banking and payments platform for business clients, runs on FinLabCore in production: safeguarding structure, pre-departure transaction screening, four-eyes on money movement, tiered onboarding and the full reporting suite, operated daily from the FinLabCore back office.
Core banking for EMIs and MSBs FAQ
Does FinLabCore provide the EMI or MSB licence?
No, FinLabCore is core banking and payments software. You operate under your own regulatory permissions and hold your own client relationships; the platform gives you the books, controls and reporting to meet the obligations that come with them.
How does safeguarding reconciliation actually work?
Client funds are booked as liabilities, structurally separated from the institution’s own funds, and reconciled against safeguarding accounts, with dedicated reconciliation reporting you can produce for any period. Details on Safeguarding and the Ledger.
Is FINTRAC reporting automated today?
Not yet, and we will not pretend otherwise. Regulatory reporting automation is in development, beginning with FINTRAC-oriented data: the platform exposes suspicious-transaction reporting data in regulator-ready shape for a downstream compliance tool to file. Track it on the roadmap.
Which rails does a Canadian MSB get on day one?
Interac, ACH/EFT-style batch clearing and fast/instant payments domestically; SWIFT and SEPA for cross-border; free instant transfers between platform accounts. Accounts & Payments.
Will our auditors get what they need?
The properties they test for are structural here: write-once entries with business and registration dates, corrections as new entries, balances derived from postings, full attributable history across payments, signatures, ledger entries, provider exchanges and admin actions, and statements generated from the books, not rebuilt beside them.
We are mid-application, is it too early to talk?
No. A demo shows the live platform against your obligations list, and scoping capability sets, providers and configuration alongside the licence track is the normal path, see also Launch a Bank for the broader journey.
Bring your obligations list to the demo
Safeguarding, monitoring, audit, reporting, tell us what your regulator expects, and we will show where each proof comes from in the live platform.