Automated Money Transmitter Licensing for MSBs
Automate your money transmitter license applications and renewals with Brico — the all-in-one licensing platform for MSBs. Brico replaces law 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.
Why Money Transmitter Licensing Slows MSBs Down
Manual licensing workflows create launch delays, reporting errors, and compliance risk.
Brico helps MSBs streamline state-by-state money transmitter licensing.
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, inconsistent records, and increased risk of non-compliance.
Renewals and reports overwhelm teams fast.
Keeping up with quarterly reports, bond requirements, and change notices across 50 states stretches even the most experienced compliance teams.
How Brico Helps MSBs Simplify Compliance and Cut Costs
Brico helps money services businesses (MSBs) reduce manual work, lower legal costs, and stay compliant with state money transmitter license (MTL) requirements. Our platform centralizes license tracking, streamlines prep and reporting, and gives your team expert-backed tools to avoid delays and missed filings—no law firm required.
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.
Choose Which Describes Your Business
Brico supports money services businesses (MSBs) at every stage,
from first-time MTL applications to multi-state license maintenance. Select the path that fits your business goals.
Startup
Launch faster. Stay compliant.
Brico helps new money services businesses go to market 5x faster with pre-filled MTL applications and streamlined workflows.
Enterprise
Reduce your license workload by 75%.
Simplify renewals, manage multi-state compliance, and centralize license tracking with Brico’s full-service platform.
Venkat Paruchuri
Founder and CEO, Scanpay
FAQs for Money Services Businesses (MSBs)
Have questions about money transmitter licenses (MTLs)? You're not alone. These are the top MTL and compliance questions we hear from money services businesses (MSBs) navigating state-by-state licensing.
What is a money transmitter license (MTL)?
A money transmitter license (MTL) is a state-issued license required for businesses that transfer money or monetary value. This includes companies handling crypto transactions, prepaid cards, digital wallets, or payment processing. Each state has its own MTL requirements.
Who needs a money transmitter license?
If your business moves customer funds or facilitates money transfers, you likely need an MTL in every state where you operate. This includes fintech platforms, crypto companies, wallet providers, and other non-bank financial services.
What does money transmitter license maintenance include?
MTL maintenance involves quarterly and annual reporting, license renewals, surety bond tracking, regulator inquiries, and change notices. It also includes monitoring state licensing regulation changes to keep your business compliant.
Schedule a Demo
Discover how Brico can simplify your new license applications.