W1tty Obtains EMI Licence from the UK FCA
Source: Fanny
Fazzaco learned that new banking challenger W1tty has obtained an electronic money institution (EMI) licence from the UK’s Financial Conduct Authority (FCA).
The company will launch in 2022 and is building an app to offer a full suite of financial services via a paid-for plan.
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It will launch its suite of products, initially targeting students and other younger people - Generation Z - in Lithuania and Poland this Autumn with other EEA countries to follow.
“Our aim at W1tty is to put customers in control of their finances through a customisable suite of attractive products and services available on the App with transparent and flexible pricing,” commented Ammar Kutait, the founder of W1tty.
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