Uk Regulators Grant Adyen A Banking License


Adyen, a Dutch FinTech, is getting ready to introduce banking services in the UK.

In a press release released on Thursday (September 7), the company stated that it had obtained a banking license from British regulators, replacing an interim authorization.

“The authorization expands Adyen’s global end-to-end financial technology capabilities,” the company said in a statement. “As a local acquirer, Adyen ensures that it retains full control of its offering and that its U.K. customers continue to benefit from its capabilities in terms of speed, flexibility, and reliability.”

Adyen will be able to continue delivering its new embedded financial services to consumers in the United Kingdom, which include bank accounts, virtual or real cards, and capital services, under the terms of the license.

“Our focus is always on providing our customers with technology that helps them excel,” said Maritte Swart, Adyen’s Chief Risk and Compliance Officer, in a statement. “The United Kingdom is an important market for Adyen, and we’re excited to strengthen our position here with this banking authorization.” It will strengthen our ability to help domestic and foreign businesses achieve their objectives more swiftly.”

Adyen, which went public five years ago, is utilized by a number of high-profile firms, including Microsoft, Instacart, and Subway, as an all-in-one payments processor, and its infrastructure is linked to Visa, Mastercard, and other payment methods.