Who We Serve

Money Transmitters & Cross-Border Remittance

Companies moving consumer funds domestically or internationally, often through networks of retail agent locations.

The underwriting challenge: Sureties look hardest at oversight of people you don't directly employ. If you transmit through third-party agents, an underwriter wants to see how you monitor, train, and audit that network, because their conduct is your license exposure. Corridor concentration matters too: heavy dependence on a small number of high-risk corridors reads as fragility, and pre-funding settlement accounts ties up the same liquidity the surety is measuring.

Crypto & Digital Asset Businesses

Exchanges, custodians, OTC desks, kiosk and ATM operators, and platforms holding or converting digital assets.

The underwriting challenge: The practical challenge is market availability, not rate. Many sureties decline digital-asset risk outright, so the work is finding a carrier that will engage at all. Those that do want clarity on custody (who controls the keys, and what happens if a counterparty fails) and on how much of the balance sheet is denominated in assets that can move 30% in a week. A clean regulatory record carries unusual weight here, because there is less underwriting precedent to fall back on.

FinTech & Payment Platforms

Payment facilitators, embedded finance platforms, and software companies that added money movement to their product.

The underwriting challenge: Most are venture-funded and pre-profit, which puts the entire weight of the file on how the business is capitalized and whether the underlying product generates real margin. Growth is the complication: adding states quickly means bond obligations scale faster than revenue, and each new license adds fixed compliance cost.

Payroll Companies & PEOs

Providers that collect employer funds and disburse wages and payroll taxes on their clients' behalf.

The underwriting challenge: The mismatch between transaction volume and balance sheet is the recurring issue. A modest payroll firm can move enormous sums while holding comparatively little net worth, and the days between collecting client funds and remitting them create exactly the exposure a bond is meant to cover. Licensing is also inconsistent, since states differ on whether payroll processing is money transmission at all, which makes the multi-state footprint harder to map.

Prepaid Access & Stored Value

Program managers and distributors of prepaid cards, gift cards, and stored-value accounts.

The underwriting challenge: Underwriters need the roles spelled out. Program manager, issuing bank, and distributor carry different liability, and files that blur them stall. Unspent cardholder balances are the other sticking point: that float sits on the books as an obligation to consumers, and a surety will want to understand how it is held, safeguarded, and eventually escheated.

Bill Payment Processors

Companies collecting consumer payments and remitting them to utilities, lenders, and other billers.

The underwriting challenge: Thin margins on high volume leave little cushion, so the financial review is unforgiving. Biller concentration is the risk underwriters probe hardest, since losing one large relationship can take a meaningful share of revenue with it. The lag between taking a consumer's payment and settling with the biller is the precise window the bond protects.

Currency Exchange & Check Cashing

Retail money services businesses handling currency exchange, check cashing, and cash-based transactions.

The underwriting challenge: These businesses carry a higher AML risk presumption before an underwriter reads a single document, so the compliance program has to do more work than it would elsewhere. Banking access is the practical hurdle: de-risking has made it hard for cash-intensive MSBs to keep stable bank relationships, and a surety reads a durable banking relationship as evidence that someone else has already done diligence and stayed comfortable.

Neobanks & BaaS Program Managers

Consumer-facing financial brands operating through partner bank charters and the program managers behind them.

The underwriting challenge: Accountability is layered, and underwriters want the layers separated: which entity is regulated, which holds funds, and where responsibility sits when something breaks. Regulatory attention on bank-fintech partnerships has tightened expectations considerably, so partnership agreements and oversight documentation get read closely. Aggressive growth targets against pre-profit financials compound the question.

Not Sure Where You Fit?

Plenty of businesses span more than one of these categories, and some don't fit neatly into any of them. What matters to a surety isn't the label but the shape of the risk: how funds move, who holds them and for how long, which regulators are involved, and what happens if volume drops. Tell us what your business actually does and we'll tell you honestly where you stand before we approach a market.