Viva.com Group Granted E-Money Institution Authorisation in UK

Published 7 months ago

The Viva.com Group, a prominent European neobank operating in the cloud, has received E-Money Institution authorisation for its UK subsidiary, Vivawallet.com Ltd, from the Financial Conduct Authority (FCA). This significant development marks a major stride in Viva.com’s strategy to expand in the UK market, reinforcing its extensive presence in 24 European markets.

Expanding Digital Payment Solutions

Viva.com aims to revolutionise the way businesses handle transactions by offering advanced digital omnichannel payment solutions and integrated financial services. Their services cater to businesses of all sizes, including multinational corporations and small and medium-sized enterprises (SMEs), across all industries and specialised markets such as Black Cabs. The company also collaborates with strategic partners, including independent software and hardware vendors.

The new FCA authorisation will enable Viva.com’s UK subsidiary to further enhance and expand its suite of innovative, regulated, and reliable payment solutions. This reflects the company’s ongoing commitment to high standards of financial regulation, supervision, and governance in the post-Brexit era.

A Testament to High Standards and Compliance

Haris Karonis, Founder & CEO of the Viva.com Group, reiterated the company’s firm commitment to accountability, transparency, and continuous compliance with evolving regulatory frameworks. He expressed pleasure that their UK subsidiary has met the high standards of the FCA, a top regulator of the financial services industry.

Karonis views this achievement as a testament to the hard work and commitment of their high-performing teams in the European Economic Area (EEA) and the UK. Their efforts have led to the creation of an innovative payments technology that operates entirely in the cloud, along with a localised compliance and internal controls environment that aligns fully with the UK regulatory framework.

Continuing Service Post-Brexit

With the UK E-Money Institution authorisation, Viva.com can continue to provide its full range of products and services to UK businesses. This will be carried out leveraging its proprietary technology, just as it was offered after Brexit and prior to authorisation under the FCA Temporary Permissions Regime.

Viva.com’s product suite includes the viva.com Terminal, viva.com Smart Checkout, viva.com Marketplace solution, along with the viva.com Account and viva.com Debit Card option. The FCA authorisation enhances the company’s technological and operational capacity, positioning Viva.com optimally to serve any business regardless of their location and territorial reach within the 24 European markets of their operations.