Project Overview
A UK B2B SaaS company providing project management software to 8,400 professional services firms wanted to emb...
Technology Stack
Compliance & Standards
The Challenge
A UK B2B SaaS company providing project management software to 8,400 professional services firms wanted to embed financial products — invoice financing (receivables-based lending) and business bank accounts — directly into their platform. FCA authorisation as a credit broker and payment institution, Banking-as-a-Service (BaaS) provider integration (Modulr for accounts, Funding Circle for lending), UK GDPR, Consumer Credit Act (CCA) for credit brokerage, and PSD2 for payment accounts were the requirements. Budget: £130,000.
Our Approach
FCA Authorisation Architecture
- FCA credit broker (arranging credit — Article 36H RAO): client SaaS company applied for FCA authorisation.
- ClickMasters documented the technology architecture for the FCA regulatory business plan.
- Payment institution (PI) — e-money issuer via
Modulr
utilising Modulr's FCA authorisation under the Modulr agency agreement (no separate PI authorisation required).
FCA application technical annex
system architecture, data flows, controls, and UK GDPR compliance documentation.
Modulr API
business account creation (e-money account per customer firm), sort code and account number assignment (UK-sort-coded accounts), inbound Faster Payments, outbound Faster Payments, Direct Debit origination, and account balance/transaction history.
Account creation webhook
- triggered when B2B SaaS customer activates the embedded finance feature.
- KYB (Know Your Business) — Companies House + Experian Commercial verification — automated at account creation.
Funding Circle API
pre-qualification (soft credit check — no impact on credit file), loan application (term loan, invoice financing), credit decision, and loan offer.
Invoice financing integration
purchase order and invoice data from the B2B SaaS project management system automatically populates the Funding Circle application.
CCA credit brokerage disclosure
FCA-required pre-contract information presented in the B2B SaaS UI before credit application — FCA-approved disclosure text.
Embedded Finance UK GDPR Architecture
Multi-party data processing: B2B SaaS company (controller), Modulr (processor for payment accounts), Funding Circle (independent controller for lending).
Data sharing agreement
B2B SaaS company shares KYB data with Modulr and Funding Circle under Article 26 (joint controller) arrangements where applicable.
Customer transparency
embedded finance privacy notice explains which data goes to which provider and on what legal basis.
The Results
Platform live at 18 weeks, £122,000 — under budget.
FCA credit broker authorisation obtained.
Embedded business accounts activated: 2,800 of 8,400 customers in first 6 months.
Embedded lending (Funding Circle): 340 applications in first 6 months, average loan £42,000.
B2B SaaS ARR uplift (embedded finance add-on fee): £840,000 additional annual revenue.
FCA technical annex: accepted without revision on first submission.
“£840,000 additional ARR from embedded finance — that is a new revenue line that did not exist 18 months ago. 2,800 embedded bank accounts activated. The FCA technical annex accepted first submission saved us 3 months of revision time. The Modulr integration meant we did not need a separate PI authorisation — that was the critical architecture decision." — CEO, UK B2B SaaS Company (name withheld)”
Project Details
Related Case Studies
View AllOpen Banking AISP Platform for UK FinTech Startup
Open Banking AISP Platform for UK FinTech Startup. A UK FinTech startup needed to build an FCA-authorised Account Information Service Provider (AISP) platform that could a...
AI-Powered Customer Service Platform — UK FinTech
A UK FinTech company with 180,000 customers was spending £840,000/year on a 45-person customer service team, p...
Digital Banking Platform MVP — UK Challenger Bank
A UK challenger bank startup had received FCA authorisation with restriction (they could accept deposits but n...
Ready to Transform Your Business?
Let's discuss how our technical expertise can help you achieve remarkable results.