Emma Technologies Ltd has received approval from the FCA.
The fintech firm has been approved and registered under the Payment Services Regulations 2017 for the provision of payment services.
Emma is currently building a mobile app – which is targeted at millennials – and successfully launched a closed beta in early December.
The app aims to help banking customers avoid overdrafts, find and cancel subscriptions, track debt and save money.
The company can now operate under the new PSD2 scheme, which launched on 13th January 2018.
Antonio Marino, CTO and co-founder of Emma, said: “We started developing Emma on a mission to improve people’s financial wellbeing.
“We are thrilled to announce the FCA has given us full permission to achieve our goal.
“Further, we are happy to share [that] we are currently working to integrate a series of challenger banks and savings solutions to further extend our offering.”
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