Viva.com granted E-Money Institution license for UK subsidiary
By Gloria Methri
Cloud-based neobank Viva.com Group has received E-Money Institution authorisation for its UK subsidiary, Vivawallet.com Ltd. This licensing milestone marks a significant step forward in Viva.com’s expansion efforts in the UK, complementing its presence across 24 markets in Europe.
Aiming to transform the way businesses pay and get paid, Viva offers end-to-end advanced digital omnichannel payment solutions and embedded financial services.
The neobank works with businesses of all sizes spanning from multinational corporations to SMEs in all industries and specialised vertical markets like Black Cabs, as well as strategic partners, including independent software and hardware vendors.
The FCA authorisation will allow Viva Group’s UK subsidiary to extend the suite of innovative, payment solutions it delivers.
Haris Karonis, Founder & CEO, Viva.com Group, said, “We hold firm in our commitment to accountability, transparency, and continuous compliance with evolving regulatory frameworks, as we build a pan-European one-stop-shop neobank. We are pleased that our UK subsidiary has managed to meet the high standards of the FCA, one of the top regulators of the financial services industry.”
He further said, “This achievement stands as a testament to the commitment and hard work of our high-performing teams in the EEA and UK, towards building a robust fully cloud-based, innovative payments technology, combined with a localised compliance and internal controls environment, in full compliance with the UK regulatory framework. The FCA authorisation complements the breadth of our technological and operational capacity and puts Viva.com in the best position to serve any business regardless their location and territorial reach within the 24 European markets of our operations.”
With the UK E-Money Institution authorisation, Viva.com can continue to offer its full range of products and services to UK businesses, leveraging its proprietary technology, in the exact same way these were offered after Brexit and prior to authorisation, under the FCA Temporary Permissions Regime.
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