European cloud-based neobank, Viva.com group, has obtained e-money institution authorisation for its UK subsidiary vivawallet.com from the FCA.
According to Viva, the licence marks a significant step forward in its strategic expansion efforts in the UK. Moreover, it complements its presence across 24 European markets.
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Viva says that it is on a mission to change the way businesses pay and get paid. It offers end-to-end advanced digital omnichannel payment solutions and embedded financial services.
Viva.com works with businesses of all sizes spanning multinationals to SMEs in all industries and specialised vertical markets. Such examples include black cabs, as well as strategic partners, including independent software and hardware vendors. The FCA authorisation will allow Viva’s UK subsidiary to enhance and extend its suite of innovative, regulated and reliable payment solutions. And says Viva, reflects its continuous commitment to high standards of financial regulation, supervision and governance post-Brexit.
‘Robust fully cloud-based, innovative payments technology’
Haris Karonis, founder & CEO, Viva.com Group said: “At Viva.com, 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. This is one of the top regulators of the financial services industry. The 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. It puts Viva.com in the best position to serve any business within the 24 European markets of our operations.”
With the UK e-money institution authorisation, Viva.com continues to offer its full range of products and services to UK businesses. It is leveraging its proprietary technology in the same way these were offered after Brexit and prior to authorisation.
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