Adyen has been granted a banking license by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
In brief:
-Digital payments giant Adyen is making a push into embedded finance.
-Adyen says it is targeting platforms such as eBay and Etsy to provide their SME customer bases with direct access to cash advances when they need them.
-This puts the payments giant in direct competition with high street banks.
What does mean?
“Our focus is always on providing our customers with technology that helps them excel”, Adyen’s chief risk and compliance officer Mariëtte Swart said.
