What the financial chapters of an e-wallet application must actually carry
A licence pack is not a pitch deck. The financial chapters have to stand up if someone ticks every figure back to a source.
Working papers from an application file, not a product demo.
Kuantan · Pahang
We examine the numbers inside e-wallet licence applications before the file is lodged.
DataCompute Base Advisory is a small practice that audits the financial chapters of applications for e-wallet and e-money services. We test capital, forecasts, safeguarding, and settlement evidence against the rest of the pack — then we write down what still will not hold.
Primary engagement
E-wallet application financial audit
The work is an examination of the financial evidence in the application: paid-in capital, volume and float workings, customer-fund safeguarding, merchant payout timing, and the exhibits that claim to prove each of those points. We do not write the legal chapters or the product narrative. We say whether the numbers can be tied to sources a sceptical reader will accept.
Fieldwork starts with a document request and a walkthrough with the finance lead. It ends with a signed note, an exception schedule, and the working papers behind every material figure we tested. Most files take four to eight weeks once the first pack is complete.
Who asks for this
Founders and finance leads preparing a first e-money or e-wallet application; existing issuers adding a wallet product; submitting advisors who want the financial chapters examined before lodgement.
What you send first
The current draft of the financial chapters, the forecast workbook, capital evidence, and any bank or trustee letters already in hand. A live or pilot ledger, if one exists.
Also available
Related examinations you can book on their own
Each of these can sit inside a full application audit or run as a shorter, named engagement.
Customer-fund safeguarding review
A focused review of how customer electronic money is segregated, confirmed, and reconciled — the chapter regulators read first when the rest of the file is noisy.
Forecast and capital adequacy examination
A line-by-line examination of volume, float, fee, and capital workings so the application’s numbers survive a sceptical reading.
Settlement and merchant payout audit
For wallets already moving money, an audit of settlement cycles, failed payouts, suspense, and the liability to merchants and customers.
Pre-submission application file review
A last independent read of the packed financial chapters, exhibits, and confirmations before the file leaves the building.
“They treated the application like a set of working papers. The safeguarding letter we were proud of did not survive the first cut-off test. We lodged three weeks later with a file that actually tied.”
How the work shows up in the file
Clients keep the exception schedule and the tie-out pack. Submitting advisors use extracts in board papers. We do not publish case studies with product names; e-wallet applications are not a marketing catalogue. If you want a sense of the sequence, read how an engagement runs.
Indicative fees are quoted after a scoping call. There is no online checkout and no packaged “licence kit.”
From the practice
Notes on files we keep seeing
A safeguarding letter is not a reconciliation
Bank stationery in the annex does not prove that customer liabilities were ever matched to designated funds.
Forecasts that survive a dull reading
If the only way the capital buffer holds is the upside case, the application does not have a capital buffer.