Finmo Gains EMI Licence in UK, Boosting Global Expansion

Fast-growing fintech leader Finmo has successfully obtained approval from the UK Financial Conduct Authority (FCA) to function as an Authorised Electronic Money Institution (EMI). This achievement represents a critical phase in Finmo's ambitious global expansion strategy, positioning the United Kingdom as a central operational hub for its innovative treasury and payments platform.

With the EMI licence, Finmo can now issue electronic money and provide a suite of payment services within the UK, including account issuance and both domestic and international fund transfers. Additionally, the licence facilitates direct integration with UK clearing systems like Faster Payments, enhancing Finmo's financial service offerings.

David Hanna, CEO and Co-founder of Finmo, highlights that securing the EMI licence underscores more than regulatory compliance but reflects a steadfast commitment to servicing clients in a leading financial ecosystem. The EMI licence supports Finmo's hub-and-spoke expansion strategy, helping to scale embedded finance solutions and deepen partnerships to improve liquidity and FX risk management.

(With inputs from agencies.)