Adyen, the global financial technology platform, has announced that its UK branch has been granted authorization as a UK bank by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). This authorization allows Adyen to continue its UK operations in line with those offered today under the Temporary Permissions Regime, ensuring ongoing service levels for UK businesses.
Adyen’s UK banking authorization is consistent with its operations in Europe under its European banking license, which allows for a continuation of its high service levels post-Brexit. As a local acquirer, Adyen retains full control of its offering, providing UK customers with speed, flexibility, and reliability. This authorization also secures Adyen’s position in the UK as a conduit for international commerce and growth, facilitating payments, data insights, and financial services in a single solution.
Furthermore, the license enables Adyen to continue offering its recently launched embedded financial product suite in the UK. This suite includes bank accounts, virtual or physical cards for simplified cash flow and expense management, and Capital, which provides small and medium-sized businesses with direct access to cash advances when needed.
Mariëtte Swart, Adyen’s Chief Risk & Compliance Officer, expressed excitement about the banking authorization, stating that it strengthens their ability to help domestic and international businesses achieve their ambitions faster. Swart also emphasized Adyen’s focus on providing customers with technology that helps them excel, and this authorization is another stride towards Adyen becoming a full spectrum global financial technology platform.
As the financial technology platform of choice for leading companies, Adyen provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution. With a presence in offices around the world, Adyen works with major companies such as Facebook, Uber, H&M, eBay, and Microsoft.
Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it