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What are Segregated bank accounts, and who needs them?
Segregated bank accounts are helpful for all manner of businesses, but particularly those bound by strict regulations, such as investment funds, insurance companies, brokers and payment service providers – in other words, modern FinTech players. A payment institution cannot secure a financial service provider’s license without maintaining segregated accounts. How does it work? Imagine a triangular arrangement of three parties – a FinTech company, its customer, and a bank. In this triangle, the bank operates…
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