Singapore-based fintech company Finmo has received approval from the UK Financial Conduct Authority (FCA) to operate as an Authorized Electronic Money Institution (EMI).
The firm said in a statement on Tuesday that this strategic milestone marks a major step in Finmo’s global expansion as it establishes the United Kingdom as a core operational hub for its next-generation, integrated treasury and payments platform.
With the EMI license, Finmo is now authorized to issue electronic money and offer a range of payment services in the UK, including account issuance, domestic and cross-border fund transfers, and foreign exchange transactions.
The license also enables Finmo to issue IBANs, hold safeguarded client funds locally, and integrate directly with UK clearing systems such as Faster Payments and Clearing House Automated Payment System.
“Securing our EMI licence in the UK signals more than just regulatory approval, it’s a commitment to serving clients in one of the world’s most advanced financial ecosystems,
“From fintechs to mid-sized global companies we’re here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations,” said David Hanna, Chief Executive Officer and Co-founder of Finmo.
Finmo was founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang – financial technology veterans with decades of collective experience across corporate treasury, global banking, payments, and compliance.
The firm’s entry into the UK market is part of its hub-and-spoke expansion strategy, designed to serve clients across multiple regions from key regulatory jurisdictions.
The license also supports Finmo’s plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and foreign exchange (FX) risk management.
Its immediate rollouts under the EMI license include the launch of GBP-denominated accounts, and Faster Payments access for eligible clients.
Finmo is also expanding its UK-based compliance and operations team to support these efforts.
This move enhances the firm’s ability to serve UK-headquartered mid-market enterprises, international businesses with cross-border operations, and companies with complex financial requirements looking for regulated, high-performance treasury infrastructure.
It is noted that the company recently launched MO AI, a conversational assistant embedded directly within its intelligent treasury platform.
Built for Chief Financial Officers, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyze payments, initiate transactions, and generate reports using command-based prompts.
Finmo currently holds regulatory approvals in key jurisdictions including Singapore, Australia, New Zealand, Canada, the United States, and the United Kingdom.
Singapore Fintech firm Finmo launches MO AI to streamline global treasury operations