Library · Neobanks
How to start a neobank
An evidence-first order of operations for founders heading into authorisation and serious bank or sponsor calls — not a week-count to “go live”.
Phase 1: Structure and perimeter
Incorporate in the jurisdiction that matches your licence and customers. Lock UBO, board and senior-manager accountability. Pick EMI, PI, MSB or agent-of with capital and timeline eyes open (FINTRAC, FCA, VARA, DFSA, etc.). The goal is one model every reviewer hears — supervisor first, then whoever holds client money.
Phase 2: One pack, many cover notes
Build programme of operations, end-to-end flow of funds, safeguarding methodology, AML / screening / monitoring and projections once. Reuse it across supervisor, safeguarding bank, BaaS sponsor and scheme with short cover notes that map to each DDQ — not a new story per inbox. VeriRail does not sell APIs, rails-in-a-box or off-the-shelf integration stacks; in the Founder Advisory Seat we pressure-test that pack and how you defend it on calls.
Phase 3: Go-live discipline
Testing, reconciliation and early-life monitoring are where many files break after a yes. Plan pilot size, incident rehearsal and how you will answer the first annual review. Client funds stay with licensed institutions; VeriRail does not hold money or substitute for your MLRO or counsel.
Founder Advisory Seat
VeriRail gives MSB and fintech founders an external operator-advisory seat through provider judgement: account-route readiness, DDQ / RFI answers, serious provider calls, closures and delays. Apply for a Fit Call when you want that work beside you on the actual file.
Apply for a Fit Call