EML Receives FCA’s Approval for Acquiring Sentenial
EML Payments Limited (EML), an innovative payment solutions platform, announced today that it has attained the UK Financial Conduct Authority’s approval for continuing its pending acquisition of an Ireland-based compay, Sentenial Limited (Sentenial).
Founded in 2003, Sentenial is a market leader in the provision of next generation payment services to businesses of all sizes and banks. Initially providing support for businesses in Ireland using direct debits, the company now supports thousands of customers throughout Europe and serves them across all aspects of Account-Based Payments and Open Banking.
EML announced its acquisition plan to the public on 7 April 2021. As Sentenial is regulated by both FCA and the French Autorité de Contrôle Prudentiel et de Résolution (ACPR), the acquisition is subject to the two regulators’ approval. Whereas, EML has not yet secured the approval from ACPR.
“The acquisition of Sentenial will be the next evolution for EML, as we transit into a broader payments business by adding instant account-to-account (Open Banking) payments into our suite of solutions for current and prospective customers,” EML’s MD and Group CEO, Tom Cregan, said earlier.
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