Why does money transmitter licensing slow money movers down?

Each state has different MTL requirements with varying forms, timelines, and documentation. Manual tracking using spreadsheets and email threads causes delays and errors, leading to missed deadlines and increased risk of non-compliance. Additionally, services firms charge expensive billable hours, with nationwide MTL applications and maintenance costing millions of dollars.

How does Brico's MTL software help MSBs?

Brico's money transmitter licensing software helps MSBs reduce manual work, lower licensing costs, and stay compliant with state MTL requirements. The platform centralizes license tracking, streamlines reporting, accelerates time to market (cutting approval timelines from 12 months to 6 or less), offers affordable flat-fee pricing (70-90% less than law firms), provides one system of record, enables transparent collaboration, monitors compliance across all 50 states, and includes expert support on demand.

Money Transmitter Licensing Software for MSBs

Automate your money transmitter license applications and renewals with Brico — the all-in-one licensing platform for MSBs. Brico's MTL software replaces expensive services firms and spreadsheets with a centralized system that streamlines compliance and reduces risk.

Whether you're applying for your first MTL or maintaining licenses in multiple states, Brico saves time, cuts costs, and keeps you audit-ready.

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Professional woman using money transmitter license software to automate MSB state MTL applications and compliance tracking

Why Money Transmitter Licensing Slows Money Movers Down

State licensing requirements are overwhelming, confusing and can cause headaches for even the most experienced teams.
Brico's MTL software helps MSBs streamline state-by-state money transmitter licensing, saving 70-90% compared to legacy service providers.

Each State Has Different MTL Requirements

From forms to timelines to documentation, managing state-by-state licensing slows down multi-state expansion and increases regulatory complexity.

Manual Tracking Causes Delays and Errors

Using spreadsheets and email threads to manage tasks leads to missed deadlines, single points of failure, and increased risk of non-compliance.

Services Firms Charge Expensive Billable Hours

Applying for and maintaining MTLs nationwide can cost millions of dollars. Get certainty over your budget with our affordable flat fees.

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Why Brico?

How Brico's MTL Software Helps MSBs Simplify Compliance and Cut Costs

Brico's money transmitter licensing software helps money services businesses (MSBs) reduce manual work, lower licensing costs, and stay compliant with state money transmitter license (MTL) requirements. Our platform centralizes license tracking and streamlines reporting, while our licensing experts ensure you stay compliant—no law firm required.

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Up-To-Date Requirements

100+ checklists, 500 pages of state code distilled to create up-to-date actionable and easy to understand requirements across all US states.

Intelligent Automation

Auto form-filling and faster application preparation by leveraging smart data mapping.

Reduced Paperwork

Over 200 paper forms digitized in-product so you reduce reliance on physical paper

Centralized Source of Truth

Centralize all work and knowledge in one platform to own your source of truth for future exams and audits. Never lose context during team expansion or employee turnover.

Built-in Project Management

Effortlessly collaborate with team members and external vendors by assigning tasks, automating reminders and feedback. Save valuable time by eliminating the need for repetitive follow-ups on tasks.

Licensing Expert-in-the-Loop

Get the benefit of a dedicated licensing expert to help unblock any hurdles in addition to the guidance in our platform.

What MSB Leaders Say About Brico

Scanpay uses Brico's money transmitter license software to streamline MTL applications across states.

"We had never been through the MTL process before, but Brico's platform and experts made it very easy to navigate and apply. The whole thing was pretty quick and painless."

Venkat Paruchuri

Founder and CEO, Scanpay

What MSB Leaders Say About Brico

MSB teams use Brico to unlock multi-state growth without overwhelming their compliance and operations staff.

"We had never been through the MTL process before, but Brico's platform and experts made it very easy to navigate and apply. The whole thing was pretty quick and painless."
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- Venkat Paruchuri
Founder and CEO, Scanpay

How Brico’s MSB licensing software works

State MTL licensing is fragmented across agencies, license types, and changing rules. Even experienced compliance teams struggle to keep up, and manual tools make every new state feel like starting from scratch.

Onboard and centralize your data

Import your entities, owners, licenses, and key documents into Brico and connect your existing records where applicable. This creates a clean foundation and a single view of your licensing posture.

Configure state-specific workflows

Apply Brico’s prebuilt checklists and automations for each state you operate in or plan to enter. Tailor tasks, approvals, and responsibilities to match your internal processes and team structure.

Run applications, renewals, and exams

Use the platform to manage new license applications, renewals, periodic reporting, and exam responses. Track every task and filing in one dashboard so you always know what’s done, what’s overdue, and what’s coming next.

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Expert support from compliance professionals

Brico's licensing-expert-in-the-loop support goes beyond software.

Access to dedicated, experienced mortgage licensing specialists to help interpret edge cases and state-specific nuances and unblock any hurdles.
Get guidance on tricky scenarios without spinning up a new law firm project each time.
Keep ownership of your program while still having expert support.

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