Your FCA Credit Broking Application: What to Expect

Your FCA Credit Broking Application: What to Expect

Navigating the FCA Credit Broking Application process can feel daunting, but it’s a critical step to offering compliant financing solutions for your customers.

At FinMatch, we’re here to guide you. Here’s a clear, step-by-step overview to help you prepare.

Ready to get started? Keep reading to learn how FinMatch can simplify your FCA journey and attract more customers with tailored payment solutions.

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Step One: Submit Your Application

What to do: Use FCA Connect to submit your application, by completing forms for your company and key individuals (e.g., shareholders, senior management).

Key documents: Attach your regulatory business plan, financial forecast, and DBS checks.

Cost: Pay the FCA application fee (£550 for limited permissions, secondary credit broking).

Tip: Double-check you've attached all documents to avoid delays.

FinMatch can help ensure your application is robust and compliant from the start.

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Step Two: Meet Your Case Officer

What happens: Once submitted correctly, the FCA assigns a case officer to your application.

Next steps: The case officer will email you to introduce themselves and outline the process.

Your case officer is your main point of contact, guiding your application to a decision.

FinMatch’s expertise can streamline communication with your case officer.

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Step Three: Answer Case Officer Questions

Expect scrutiny: The case officer will ask detailed questions to validate your application, including: 

• Your customer journey.
• How you’ll introduce financing.
• Key policies and compliance measures.

Provide clear, precise answers to avoid delays.

FinMatch can help you craft compliant policies that satisfy FCA expectations.

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Step Four: Ace the Competency Interview

What to expect: A 30–60 minute interview to assess your understanding of regulatory obligations, including:

• Handling complaints.
• Supporting vulnerable customers.
• Senior management responsibilities.
  

Outcome: If successful, your application will be deemed “complete.” If concerns arise, you’ll need to clarify or, in rare cases, withdraw and resubmit your application.

FinMatch can prepare you to confidently navigate the interview.

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Step Five: You're Approved!

Success: If your case officer is satisfied, you’ll be notified that your FCA permissions are granted.

What’s next: Your regulatory responsibilities begin immediately – implement your business plan as promised.

Stay compliant: Ensure ongoing adherence to FCA rules.

FinMatch supports UK merchants with compliant financing solutions to drive growth.

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Contact us today to start your FCA journey!