Juni, the financial platform built for ecommerce, has today announced that it has secured its Electronic Money Institution (EMI) licence from Swedish regulator Finansinspektionen.
The EMI licence is a first step to enable Juni to issue e-money in Sweden and in time, across Europe.
Juni gives ecommerce businesses a unified view of their finances with cards, multi-currency accounts, and accounting, banking and advertising integrations - all in one place. Through its EMI licence, Juni will be able to:
• Be more flexible and create more tailored offers for its customers by broadening the range of payment products and services available and to go to market quickly
• Introduce modern and progressive compliance procedures that will offer its customers even better protection from fraud - by combining in-house built and third party vendor solutions
• Passport the EMI licence and provide its products and services to all other EU countries, with the aim to do so early next year
• Strengthen its existing payments technology stack in preparation to enter other markets beyond Europe
Samir El-Sabini, CEO and Co-founder of Juni, says, “This is an important milestone for Juni. It enables us to have an even more robust legal and regulatory framework, ensuring we continue to operate a safe financial ecosystem for our customers. We’re also excited to leverage our EMI licence to broaden our range of payment products and services, and continue to help our customers grow.”
Ambree Khasru, VP Regulatory & Oversight Officer, says, “We’re thrilled to continue to provide our customers with reassurance and trust, now with a direct relationship with the regulator. Our focus is to ensure our customers’ financial peace of mind by taking responsibility for the safety of their funds, their data and strengthening Juni’s products and services in line with expected regulatory standards.”