Saturday, March 15, 2025
3.1 C
London
HomeBankingAdyen lands UK banking authorisation from FCA and PRA

Adyen lands UK banking authorisation from FCA and PRA

Date:

ABN AMRO-Owned Neobroker Fined $1.6M for Paying Finfluencers

A Significant Penalty in the Financial Industry Highlights Regulatory...

AvidXchange Explores Potential Sale Amid Market Changes

What Investors Need to Know About AvidXchange's Strategic ShiftHighlights:...

Raisin Expands Its Offerings by Launching in Finland

Discover how Raisin is transforming the financial landscape in...

Dutch payments processor Adyen has received authorization from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to launch banking services in the UK.

Facts

  • Adyen, previously operating in the UK under the FCA’s Temporary Permissions Regime, can now offer a full suite of financial services, including bank accounts, virtual and physical cards, capital services, and expense management tools, primarily targeting platform businesses for SMB users.
  • This authorization positions Adyen as a conduit for international commerce, offering payments, data insights, and financial services alongside its European banking license.
  • Adyen’s compliance with evolving UK regulatory frameworks post-Brexit is affirmed by this approval.
  • This development follows a recent market capitalization drop of €17.8 billion due to underwhelming H1 2023 results.
  • Adyen’s chief legal and compliance officer, Mariëtte Swart, emphasizes their commitment to providing technology that empowers customers and their excitement to strengthen their presence in the UK with this banking authorization.

Related stories

spot_img

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories