Italian regulator restricts Qonto and Lemonway from new customer onboarding over AML concerns. Why EU passporting strategy fails when local IBANs require branch compliance.
UK BaaS provider Modulr will stop onboarding new agents or distributors unless FCA approval is granted, while EU operations and direct fintech customers remain unaffected.
Goldman Sachs pauses onboarding high-risk fintech customers after a regulator flags compliance gaps, highlighting the complexity of BaaS and embedded finance oversight.
