Global FinTech platform Adyen has revealed that its UK branch has been granted authorisation as a UK bank.
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) allowed the firm access under Part 4A of FSMA 2000, securing Adyen’s position in the UK as a conduit for international commerce and growth facilitating payments, data insights, and financial services.
The authorisation allows Adyen to continue its UK operations in line with those offered today under the Temporary Permissions Regime. Meaning that its operations will remained aligned with its European branches, allowing for a continuation of its high service levels post-Brexit.
Mariëtte Swart, Adyen’s Chief Risk & Compliance Officer, said: “Our focus is always on providing our customers with technology that helps them excel. The UK is a key market for Adyen and we’re excited to cement our position here with this banking authorisation.
“It will strengthen our ability to help domestic and international businesses achieve their ambitions faster. It’s another stride towards Adyen becoming a full spectrum global financial technology platform.”
In addition, the licence allows Adyen to continue to offer its recently launched embedded financial product suite in the UK. This enables platform businesses to deliver financial products to their small and medium-sized businesses (SMB) users.
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