Tintra is turning fintech into fully operational bank, eyes licenses in four continents
“Within the next three months or so we will be engaged with bank licence applications on three continents – something that I’m immensely proud of the team for undertaking – and by next year taking that up to four.”
Tintra has announced plans to secure banking licences across four continents, to enable it to operate to the highest regulatory standards as it revolutionises the global financial market.
The fast-growth regtech business says it is focused on building a socially and fiscally inclusive banking platform that will make access to the global marketplace as seamless in Africa, Latin America, or Asia tomorrow as it is in Europe or the United States today.
The London-headquartered RegTech wants to build a borderless banking infrastructure to democratise trade and finance across the emerging world delivered via a strategic network of full bank licences on four continents.
The fourth piece of the puzzle
Built upon artificial intelligence and machine learning to eliminate bias in global compliance, Tintra has recently applied for a Small Bank Licence in the United Kingdom, as well as for an EMI authorisation from the Financial Conduct Authority. Tintra already has obtained licenses in Qatar and Puerto Rico.
Now, Tintra is announcing “the fourth piece of the puzzle”: it formed a company in Singapore with the intention of hiring a team there to begin the process of understanding the regulatory steps toward a Singapore banking licence application during 2023.
This new steps is part of its strategy of being “a regulation-first technology business” as it moves beyond a ‘tech wrapper’ and becomes a
fully operational bank, without the challenges and restraints of existing legacy infrastructure.
Richard Shearer, CEO and Founder of Tintra PLC, said: “At our core we are building a financial services infrastructure using deeply innovative, patentable, AI & ML technology to solve the problems of compliance in the emerging world that others are not. To do this we’ve always seen that we want to be regulated at the highest level and ‘be the bank not just the fintech’ as we discuss internally.”
“Within the next three months or so we will be engaged with bank licence applications on three continents – something that I’m immensely proud of the team for undertaking – and by next year taking that up to four. It means that we are positioning the entire business to operate to the highest regulatory standards by applying the collective requirements set out by these three important global regulators for robust governance, controls, and risk management practices. Where other fintech or regtech businesses can only iterate, Tintra will truly innovate. We are building something game-changing here, and each week brings the vision closer to reality.”
