24 July 2017
download the report now

Tungsten gets green light for takeover of FIBI Bank

29 May 2014  |  2389 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)
visit www.finastra.comvisit www.niceactimize.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
11076 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
9919 views comments | 16 tweets | 12 linkedin
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
8981 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
8866 views comments | 10 tweets | 5 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
8736 views comments | 25 tweets | 16 linkedin