BFC Group granted UK banking licence
20 October 2016 | 4432 views | 1
Source: BFC Group
In October 2016, our latest venture ‘BFC Bank’ received authorisation by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (FRN 716167) in the United Kingdom for a banking licence.
BFC Bank will offer low-cost basic corporate banking products with a strong emphasis on international transactions and multi-currency cash management, as well as UK domestic payments to Small and Medium-sized Enterprises’ (SMEs).
With over 40 years of experience in the payments industry, we understand the importance of fairness and transparency, therefore our suite of products have been designed to simplify how overseas payments and foreign exchange are managed and to complement the existing banking arrangements of SMEs. We will also provide banking support and services to other Payment Service Providers (PSPs) who face difficulties accessing bank accounts and the ability to make payments.
BFC Bank is a trading name of BFC Bank Ltd authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).