Kani Payments joined FF News | Fintech Finance at Money20/20 Europe to discuss the findings from our recent report, Safeguarding Readiness in the UK Payments Sector.
The conversation focused on the FCA’s updated safeguarding requirements under CASS 15 and what they mean in practice for payment firms, e-money institutions and the back-office teams responsible for reconciliation, reporting and compliance.
One of the key themes from the interview was that safeguarding is no longer just a periodic compliance exercise. Under the updated regime, firms are being pushed towards a more consistent, daily operating model — with stronger expectations around reconciliation, evidence, controls and audit readiness.
As discussed in the video, Kani’s research found that many firms understand the direction of travel and are actively preparing for the new rules. However, the bigger challenge is operational change.
Only 13% of firms surveyed said they currently perform safeguarding reconciliations daily, highlighting the gap between regulatory expectation and existing industry practice. The research also found that many firms still rely on spreadsheets as part of their safeguarding workflow, creating challenges around scalability, evidence production and audit confidence.
Speaking at Money20/20 Europe, Kani highlighted the importance of moving from manual, fragmented processes towards more repeatable and auditable safeguarding workflows.
For firms still preparing for the FCA’s updated safeguarding regime, the priority is to understand how current processes operate end to end. That means identifying where data comes from, where manual workarounds exist, how reconciliations are performed and how quickly supporting evidence can be produced if requested.
The broader message from the interview was clear: the challenge is not simply understanding the rules. It is building safeguarding processes that can operate consistently, every day, under real regulatory scrutiny.
Watch the full interview here:
