Real-time payments platform Volt lands UK EMI licence from FCA
With the new licence, Volt plans to enhance its cash management offering Connect to include virtual accounts.
With the new licence, Volt plans to enhance its cash management offering Connect to include virtual accounts.
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
The regulator says designated banks and building societies need to assess the gaps in access to cash.
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
The regulator recently reviewed how firms tackle fraud and handle complaints from customers.
The authorisation will enable Mangopay to offer its full suite of services to new and existing UK customers.
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
The fintech reportedly allowed funds to be released from accounts which were flagged as suspicious by the National Crime Agency (NCA).
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Payabl. says the authorisation will “unlock significant opportunities” as it looks to expand across the UK.
The regulator’s 14-point plan seeks fairer interest rates on UK savings accounts.
15 fintechs including Wise, Monzo, Revolut and Klarna have penned an open letter to UK chancellor Jeremy Hunt.
The Digital Sandbox has previously only been available to developers via pilots and TechSprints.
The review will examine how the FCA is working to overcome new challenges and take advantage of opportunities.
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
From 8 October, companies will have to introduce a “cooling-off period” for first-time investors.
Money20/20 Europe opened this year with a discussion on how open banking is driving global innovation.
PayFuture aims to help businesses connect with local payment options in emerging markets.
The Digital Sandbox provides a “safe and secure” environment for companies to build and test their products.
Paynetics was previously operating in the UK under the FCA’s Temporary Permission Regime.
The FCA ordered WealthTek to cease all operations last week, citing “serious regulatory and operational issues”.
The company raised £1.5 million in a seed funding round last year.
It says many firms present “an unacceptable risk of harm” to their customers.
The FCA says technical failures in TSB’s IT system led to customers being unable to access banking services.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Gatehouse Bank agreed to settle early, which led to a 30% reduction to the original penalty of £2.2 million.
The move comes as part of the regulator’s work in response to the increasing cost of living.
Banks and building societies will have to assess the impact of any reduction in the services they provide.
The agency says Monzo has taken adequate steps to end the breach and prevent a recurrence.
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The FCA says HSBC’s transaction monitoring systems showed “serious weaknesses” between 2010 and 2018.
Milton Keynes-based data firm wins regulator contract running until April 2024.
UK bank faces rare criminal proceedings in December.
John Gidla joins the fintech after three years at the Financial Conduct Authority.
UK regulator issued a now-revealed warning to Binance in June.
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
The FCA is investigating Monzo over potential breaches of money laundering laws.
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
The watchdog estimates that around 2.3 million adults in the UK now hold cryptoassets.