PSFP: New Extinctive Management Service for Crowdfunding Platforms

Capsens is the European leader the development of crowdfunding platforms. Our expertise allows us to offer a complete extinguishing management solution to allow all European players offering solutions based on loans, obligations or royalties to comply with European legislation within the framework of the new pan-European agreement: PSFP.

The law requires the establishment of extinctive management

Indeed, the legislation in France and in The European Union evolves following the implementation of a new pan-European agreement ECSP (European Crowdfunding Service Providers) gradually replacing CIP & IFP approvals.

The regulation imposes a continuity plan for crowdfunding platforms as well as a system of Extinctive management.

Extinctive management corresponds to resources and procedures put in place to ensure the continuity of financial operations, in the event that a crowdfunding platform offering financing based on loans, bonds or royalties ceases its activity.

Capsens is a recognized player in the sector

Among the crowdfunding platforms we have created, several collect several million euros per week. Notable platforms include: raizers.com, fundimmo.com, lita.co, credit.fr, enerfip.fr or trousseaprojects.fr.

Capsens currently brings together a team of 35 people : developers, project managers and designers. We work a lot for crowdfunding players, as well as management companies or startups.

Extinctive management by Capsens

The solution proposed by Capsens is offered in the form of a fixed monthly subscription defined according to various parameters including the volume of assets under management of the platform.

Capsens' service is twofold:

1. ‍During the life of the platform
   ‍Bi-annual migration tests to verify data formats and that the failover system is operational. Annual audit of loan contracts to ensure that they are still in line with fire management. ‍
2. In case of cessation of activity
   ‍Complete resumption of the management of repayments on the platform thanks to a personal space for borrowers (to repay independently) and a lending area (consult the payments received and to be received, validate your KYC, debit your funds...)

We therefore developed an extinctive management platform on which users manage refunds after the end of the initial platform. The main interest is to allow investors to recover their funds as easily as possible.

User data management

In order to facilitate the migration of user data on the day their platform is switched to extinctive management, we are preparing for this eventuality with the greatest care. So we test the migration of their data at regular intervals.

Here are a few safety features:

• Migrated users Accept sharing from their information to the extinctive management platform
• User data is stored in servers in Europe, complying with standards RGPD
• Capsens employees cannot access this data, except in specific cases where authorizations are given to perform specific actions (mainly debugging) their actions are traced.
• Capsens manages sensitive data from dozens of platforms for almost ten years. Our expertise in this field is important and our platforms are regularly audited by external service providers.

For more information visit our Extinctive management site or make an appointment to talk about it: https://calendly.com/amandine-vivier/runoff-meeting-30min

See you soon 😃