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Saturday, September 21, 2019

News > Fintech

LHV to give fintechs access to instant pound and euro payments

Sam Monk | 17:27 Tuesday 28th May 2019

LHV Bank has announced that it plans to start providing its fintech clients with pound payments in June.

The bank now has an account with the Bank of England and will join the Faster Payments scheme as a direct member.

This will enable LHV Connect — the banking application programming interface (API) — to provide access to both Single Euro Payment Area Instant (SEPA Instant) and Faster Payments.

Fintechs will be able to make domestic payments in both the UK and the euro area through LHV’s Connect API.

“Going live with Faster Payments through our LHV branch in the UK is very exciting for us as we’ve been working towards this moment since we expanded to London just over a year ago,” said Andres Kitter, head of the UK branch at LHV (pictured above).

“Despite the turbulent times resulting from Brexit, our inaugural year in the UK has been hugely successful – we’ve more than doubled our existing client base and reached profitability well ahead of schedule.”

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