Signifying trust and credibility, gaining an EMI licence is a rite of passage for any fast-growing FinTech company. Provided by the FCA, its process is certainly no walk in the park – mountains of paperwork and a bucketload of patience are required.
The StorkCard team know this well, having been through the necessary due diligence to secure its own EMI licence recently. Co-founder Bruce Pannaman explained:
“The EMI licence is a major milestone for any ambitious FinTech company and as an Electronic Money Institution we can offer current accounts, joint accounts, digital wallets and debit cards. This will drive future products and it means that we can seamlessly scale our operations from a compliance standpoint. It is a significant asset for us, a huge achievement and provides our customers with another clear reason to trust StorkCard.”
Announcements like this often make waves within the FinTech industry and StorkCard’s own milestone is case in point, as shown by press coverage in FinTech Times, London Loves Business, FinTech Global, Techround and FinTechFinance.
Everyone at the company is proud of this achievement (we agree!), and it joins plenty of other successes.
So far, one of Storkcard’s co-founders has been in WIRED, its card and app launched to great fanfare, which was named TechSpy App of the Week, and PR coverage has spanned a mix of interesting sectors.
On paper, an EMI licence is merely a regulatory matter, however when brought to life with PR, it can be transformed into a fantastic marketing tool.
Contact us if you want help promoting a similar achievement or message us with our live chat.
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