New challenger, W1TTY, has just secured a licence from the Financial Conduct Authority (FCA) to roll out services in Britain early next year.
Having secured an EMI licence in Lithuania in January, as well as passporting rights across the European Economic Area (EEA), smart finance start-up, W1TTY, is now planning to launch its suite of products in the UK - targeting young people starting their first jobs and building their careers.
Headquartered in London but operating internationally, W1TTY was founded to offer the Generation Z demographic a smarter approach to finance. Mediated through an intelligent app, W1TTY’s offering differentiates itself with cost saving innovations, strong financial education to support informed decision making, and by offering customisation as standard.
Ammar Kutait, W1TTY’s founder and CEO, said: “Securing an EMI licence in the UK is a testament to the strength of the team we have assembled and the quality of our systems - especially our anti-money laundering (AML) and know-your-customer (KYC) controls. We look forward to being able to offer W1TTY’s unique suite of financial services to customers across Europe and in the UK, giving them the choice and service they deserve, in the very near future.”
While W1TTY is primarily focusing on Generation Z - nearly a third of the world’s current population - its product suite is intended to appeal to any consumers dissatisfied with their current financial experience: “Our aim at W1TTY is to put customers in control of their finances through a customisable suite of attractive products and services available on the app, with transparent and flexible pricing,” said Kutait.
With a team of over 100 working on its launch - and supported by a strong advisory board - W1TTY will soon be set to take one of the most sophisticated markets in the world, the UK financial services sector, by storm.