Money Transmitter License Sponsorship Timelines

We understand the importance of meeting deadlines in the world of Money Transmitter License Sponsorship. That’s why we have created a sample timeline that we strive to follow for the benefit of our valued clients.

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Timeslines for MTL Sponsorship

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Day 1: We begin by signing the Referral Agreement and initiating the EDD Collection process, corporate setup, pay-in, and pay-out flows, correspondent tie-up agreements, and client types.

Day 21: After receiving sign-off from the client for the pre-introductory material, we introduce them to potential solution providers with approved information.

Days 23-25: We conduct an introductory call with the solution provider while maintaining non-disclosure.

Day 30: We directly engage with the solution provider and work on multiple facets such as contract negotiations, commercial terms, enhanced due diligence, technology/API, and flow of funds and transaction set.

Day 75: We sign the commercial terms after completing enhanced due diligence and agreeing on AML policies/compliance, sandbox access, and technology integration/build.

By now, the following activities would have been completed:

  • Enhanced Due Diligence
  • Acceptance of Commercial Terms and Signing of Contract
  • Agreement on AML Policies/Compliance
  • Sandbox Access
  • Technology Integration and Build

Day 100: All development build, integration, and testing are complete. We conduct a final walk-through/review with the solution provider before going live.

Day 110: We go live and launch the project.

Please note that while we aim to follow this timeline, we understand that flexibility may be required, and the timeline may be subject to +/- three weeks. Our team is dedicated to ensuring a successful outcome for our clients, and we will work closely with you to accommodate any changes that may arise.

This page was last updated on May 31, 2023.

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