When assessing e-money regulation, how the product works, the organisation's activity and the relevant national implementation are considered together. A KYC integration supports only one part of these assessments.
Define the product
Whether the service offered to the customer has the character of payment, e-money or another activity affects the requirements. A commercial product name does not replace legal classification.
Controls and operations
Handle customer onboarding, record-keeping and risk processes without detaching them from the institution's broader obligations. Do not present a screening product as a compliance guarantee for the whole regulation.
Current framework
EMD2, the relevant national regulations and the changing EU framework must be checked together. Do not confuse a description of the old directive with the current product scope.
This content is general information. Determine the requirements that apply to your institution from current official sources and your own assessment process.
See the related product scope → Payment and e-money solution
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