UK regulator, the Financial Conduct Authority (FCA), has approved fintech Finmo to operate as an Authorised Electronic Money Institution (EMI), enabling it to offer a wider range of payment services across the UK.
With its new EMI licence, Finmo can now issue electronic money and offer a range of new payment services, including account issuance, domestic and cross-border fund transfers, and foreign exchange transactions. The licence also enables Finmo to issue IBANs, hold safeguarded client funds locally, and integrate directly with UK clearing systems such as Faster Payments and Clearing House Automated Payment System.
This milestone marks a major step in Finmo’s global expansion as it establishes the UK as a core operational hub for its integrated treasury and payments platform.
“Securing our EMI licence in the UK signals more than just regulatory approval, it’s a commitment to serving clients in one of the world’s most advanced financial ecosystems,” said David Hanna, co-founder and CEO of Finmo, in reaction to the news. “From fintechs to mid-sized global companies, we’re here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations.”
Finmo’s entry into the UK market is part of its hub-and-spoke expansion strategy, designed to serve clients across multiple regions from key regulatory jurisdictions.
The licence also supports Finmo’s plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and FX risk management.
Planning future growth
Immediate rollouts under the EMI licence include the launch of GBP-denominated accounts, and Faster Payments access for eligible clients. Finmo also plans to expand its UK-based compliance and operations team to support these efforts.
This move should enhance Finmo’s ability to serve UK-headquartered mid-market enterprises, international businesses with cross-border operations, and companies with complex financial requirements looking for regulated, high-performance treasury infrastructure.
Finmo also recently launched ‘MO AI’, a new conversational assistant embedded directly within its treasury platform. Built for CFOs, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyse payments, initiate transactions, and generate reports using command-based prompts.
Source: https://thefintechtimes.com/
