Latest news with #Finmo
Yahoo
08-07-2025
- Business
- Yahoo
Finmo receives electronic money institution licence in UK
Fintech firm Finmo has secured authorisation from the UK Financial Conduct Authority (FCA) to operate as an electronic money institution (EMI). With the licence in place, the company aims to establish UK as the core operational hub for its treasury and payments platform. With the EMI licence, Finmo is now permitted to issue electronic money, provide account issuance services, and facilitate both domestic and international fund transfers, as well as foreign exchange transactions. It also allows the company to issue IBANs and directly integrate with the nation's clearing systems, including Faster Payments and the Clearing House Automated Payment System. Finmo CEO and co-founder David Hanna said: "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." The expansion into the UK market aligns with Finmo's "hub-and-spoke" strategy, which seeks to offer services from key regulatory jurisdictions. Additionally, the licence is expected to aid Finmo in scaling its embedded finance solutions and enhancing collaborations with capital market providers for liquidity and FX risk management. Finmo has announced the immediate launch of GBP-denominated accounts and access to Faster Payments for qualifying clients. The company is also increasing its UK-based compliance and operations team to support its services to mid-market enterprises based in the UK, international businesses with cross-border operations, and companies seeking regulated treasury infrastructure. The company recently introduced MO AI, a conversational assistant integrated within its treasury platform, to assist CFOs, controllers, and finance teams in managing workflows. This tool is designed to provide real-time information on balances, payments analysis, transaction initiation, and report generation through command-based interactions. This approval follows Finmo's Series A funding round in February, where the company raised $18.5m, taking its total funding to $27m. "Finmo receives electronic money institution licence in UK " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
08-07-2025
- Business
- Finextra
Finmo secures UK EMI Licence
Fast-growing fintech company Finmo has received approval from the UK Financial Conduct Authority (FCA) to operate as an Authorised Electronic Money Institution (EMI). 0 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 licence, Finmo is now authorised 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 licence 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. David Hanna, CEO and Co-founder of Finmo said, "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." 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. Finmo'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 licence also supports Finmo's plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and FX risk management. Immediate rollouts under the EMI licence 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 Finmo'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. The company recently launched MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Built for CFOs, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyse payments, initiate transactions, and generate reports using command-based prompts.
Korea Herald
08-07-2025
- Business
- Korea Herald
Treasury and Payments Platform Finmo Secures UK EMI Licence, Expands Global Footprint
LONDON and SINGAPORE, July 8, 2025 /PRNewswire/ -- Fast-growing fintech company Finmo has received approval from the UK Financial Conduct Authority (FCA) to operate as an Authorised Electronic Money Institution (EMI). 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 licence, Finmo is now authorised 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 licence 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. David Hanna, CEO and Co-founder of Finmo said, "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." 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. Finmo'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 licence also supports Finmo's plans to scale embedded finance solutions and deepen partnerships with capital market providers for liquidity and FX risk management. Immediate rollouts under the EMI licence 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 Finmo'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. The company recently launched MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Built for CFOs, controllers, and finance teams, MO AI transforms fragmented, multi-entity workflows into a unified, real-time experience, enabling users to retrieve balances, analyse payments, initiate transactions, and generate reports using command-based prompts. About Finmo Finmo is a global financial technology company transforming the way modern finance teams manage treasury and payments. The company 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. Its intelligent platform integrates payments, FX risk mitigation, liquidity and cash management, and financial system connectivity into a single, secure solution - providing real-time visibility, control, and operational efficiency across global financial workflows. Trusted by fintechs and mid-sized global companies, Finmo holds regulatory approvals in key jurisdictions including Singapore, Australia, New Zealand, Canada, the United States, and the United Kingdom. The company is committed to building a faster, smarter, and more resilient financial infrastructure for the digital economy.
Finextra
19-06-2025
- Business
- Finextra
Finmo releases AI co-pilot for treasury teams
Finmo has launched MO AI Co‑Pilot, a conversational AI assistant designed to revolutionize how treasury teams manage financial operations. 0 From real-time cash visibility to forecasting and global payments, MO AI co‑pilot acts as an intelligent partner for finance professionals. MO AI enables finance professionals to handle complex, multi-entity, multi-currency workflows using simple, natural language. From retrieving account balances and initiating transactions to analysing cross-border payments and generating reports, MO AI delivers instant, contextual responses, transforming fragmented workflows into a unified, real-time experience. David Hanna, CEO, Finmo said, 'MO AI reflects the kind of meaningful innovation we aim for at Finmo - solving real-life treasury challenges with intelligent, usable tech. Our team has combined automation, AI, and deep financial insight to deliver tools that empower finance professionals to operate more strategically.' At the core of MO AI is a custom-built architecture that goes beyond traditional AI assistants. It combines real-time data integration, contextual financial understanding, and action execution via Finmo's proprietary Model Context Protocol. This foundation enables MO AI Co‑Pilot to interpret finance-specific language, support enterprise-grade authorisation flows, and securely execute transactions with full traceability. Raj Vimal Chopra, Co-founder & Chief Technology Officer, Finmo said 'We built MO AI as a domain-specific AI system to tackle the operational complexities of global treasury management. By fusing generative AI, advanced large language models (LLMs), and Finmo's high-fidelity treasury infrastructure, MO delivers deep intelligence with real-world utility. It understands treasury nuances, enforces strict access controls, and executes real-time actions with full auditability, ensuring security, compliance, and explainability at every step' Unlike generic AI applications, MO AI was trained on years of real financial transaction data and decision-making patterns. Its foundation blends generative AI with domain specific intelligence to respond to the pace and precision finance teams require. The MO AI co-pilot enhances day-to-day treasury workflows by automating tasks like payment approvals and forecasting. Akhil Nigam, Co-founder & Chief Product Officer, Finmo said 'We build products to solve real treasury problems. MO AI has been designed to think like a CFO function. It's built to understand the urgency, structure, and decision logic behind every action. Our goal was to move beyond automation and create an intelligent partner; one that helps finance teams shift from reactive to proactive execution.' As finance operations grow more complex, the MO AI co-pilot is positioned to be the intelligent companion treasury teams need. Finmo sees MO AI as a foundational leap toward a new era of intelligent finance. The roadmap includes predictive capabilities aligned with market conditions, complete workflow automation, integrations across the financial tech stack, and adaptive learning tailored to individual user roles. By shifting from static reporting to intelligent decision-making, MO AI Co‑Pilot positions finance teams to lead strategically in a dynamic, global economy.
Yahoo
19-06-2025
- Business
- Yahoo
Singapore Fintech Finmo Launches MO AI, a Conversational Co-Pilot for Global Finance Teams
SINGAPORE, June 19, 2025 /PRNewswire/ -- Finmo, the treasury operating system for global finance teams, recently announced the launch of MO AI, a conversational assistant embedded directly within its intelligent treasury platform. Purpose-built for CFOs, controllers, and finance teams, MO AI streamlines global treasury operations, making real-time cash management, forecasting, compliance, and reporting much faster and more accurate across global operations. MO AI enables finance professionals to handle complex, multi-entity, multi-currency workflows using simple, natural language. From retrieving account balances and initiating transactions to analysing cross-border payments and generating reports, MO AI delivers instant, contextual responses, transforming fragmented workflows into a unified, real-time experience. David Hanna, CEO, Finmo said, "MO AI reflects the kind of meaningful innovation we aim for at Finmo - solving real-life treasury challenges with intelligent, usable tech. Our team has combined automation, AI, and deep financial insight to deliver tools that empower finance professionals to operate more strategically." At the core of MO AI is a custom-built architecture that goes beyond traditional AI assistants. It combines real-time data integration, contextual financial understanding, and action execution via Finmo's proprietary Model Context Protocol. This foundation enables MO AI to interpret finance-specific language, support enterprise-grade authorisation flows, and securely execute transactions with full traceability. Raj Vimal Chopra, Co-founder & Chief Technology Officer, Finmo said "We built MO AI as a domain-specific AI system to tackle the operational complexities of global treasury management. By fusing generative AI, advanced large language models (LLMs), and Finmo's high-fidelity treasury infrastructure, MO delivers deep intelligence with real-world utility. It understands treasury nuances, enforces strict access controls, and executes real-time actions with full auditability, ensuring security, compliance, and explainability at every step" Unlike generic AI applications, MO AI was trained on years of real financial transaction data and decision-making patterns. Its foundation blends generative AI with domain-specific intelligence to respond to the pace and precision finance teams require. Akhil Nigam, Co-founder & Chief Product Officer, Finmo said "We build products to solve real treasury problems. MO AI has been designed to think like a CFO function. It's built to understand the urgency, structure, and decision logic behind every action. Our goal was to move beyond automation and create an intelligent partner; one that helps finance teams shift from reactive to proactive execution." Finmo sees MO AI as a foundational leap toward a new era of intelligent finance. The roadmap includes predictive capabilities aligned with market conditions, complete workflow automation, integrations across the financial tech stack, and adaptive learning tailored to individual user roles. By shifting from static reporting to intelligent decision-making, MO AI positions finance teams to lead strategically in a dynamic, global economy. View original content: SOURCE Finmo Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
