09 December 2016
Visit aciworldwide.com

Tungsten gets green light for takeover of FIBI Bank

29 May 2014  |  2278 views  |  0 Source: Tungsten

The Board of Tungsten is delighted to announce that it has received approval from the UK's Prudential Regulation Authority for the formal change of control in relation to the acquisition of FIBI Bank (UK) plc ("Bank").

The fully UK authorised Bank will be re-named Tungsten Bank and commence offering supply chain finance.

Moreover, Tungsten has today begun providing invoice discounting services to selected US customers.

Edmund Truell, Chairman of the Bank, said: "We look forward to an exciting future, as Tungsten Corporation builds up a disruptive force in supply chain finance on a global basis. The combination of enormous flows of invoices; simple and transparent finance offers; and high grade credit risks should enable us to advance billions of pounds, dollars, euros and francs to suppliers on the Tungsten Network."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit contisgroup.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Top topics

Most viewed Most shared
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7935 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7882 views comments | 36 tweets | 30 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7813 views 12 comments | 15 tweets | 27 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
7604 views comments | 35 tweets | 47 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6645 views comments | 20 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job