Weavr has secured a European e-money licence to support the broader adoption of Embedded Finance by B2B SaaS providers. The Malta Financial Services Authority (MFSA) issued the licence following a thorough review of Weavr’s operational model.

This model aims to facilitate the integration of Embedded Finance into software applications, enhancing the customer experience while ensuring high-security standards. According to the company press release, Embedded Finance, a method of integrating financial services into non-financial platforms, has largely been delivered through the Banking-as-a-Service (BaaS) model. However, global regulators, including those in Europe, have expressed concerns about the oversight capabilities of institutions using this model.

Weavr’s operational approach addresses these regulatory concerns from the outset, which was a key factor in the MFSA’s decision to grant the licence. With this new licence, Weavr plans to develop an extensive IBAN offering in Europe, accommodating various European currencies and expanding beyond the Eurozone. The company will be able to provide a range of financial products, including cards and global account and fund transfer networks.

Some of these products will be powered by Visa, with which Weavr established a strategic partnership last year. A closer look at Weavr's capabilities Weavr’s toolkits are designed to facilitate seamless integration of financial services for B2B SaaS businesses, allowing for streamlined user experiences from onboarding to customer authentication. This integration aims to improve productivity and reduce errors caused by the transfer of financial data between business applications and banking systems.

In the official press release, representatives from Weavr commented on the significance of the licence, noting that it positions the company among the first to receive approval for a model intended to enhance safety in embedded finance. They highlighted that the licence marks a pivotal point in Weavr’s development, enabling the company to offer its operational model in a more refined and effective manner, benefiting B2B SaaS businesses across various applications. For more information about Weavr, please check out their detailed profile in our dedicated, industry-specific Company Database.

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