Interview: Belmoney CEO Bruno Pedras on Brexit fintech – the bridge reversing relocation costs

According to immoderate estimates, astir 46% of UK fiscal firms person opened costly EU offices to past post-Brexit. They person incurred an archetypal concern of over £350,000 just to regenerate mislaid marketplace access. Bruno Pedras, CEO of Belmoney says that this high-stakes compliance load is pushing smaller fintechs to the brink of forced marketplace exit oregon insolvency owed to crippling superior requirements. He does nevertheless person a solution for firms that ne'er afloat committed to the costly enactment of relocation

Instead, helium advocates a strategic, tech-enabled workaround that has saved immoderate firms implicit £500,000 and successful the process, bypassed a twelvemonth of licensing bureaucracy.

Pedras has helped UK fintechs seamlessly grow backmost into the European Single Market. Specifically, helium advocates the improvement of Remittance-as-a-Service (RaaS) and explains however this innovation acts arsenic a regulatory "plug-and-play" span to the EU.

Founded successful 2013, Belmoney was created with the ngo to alteration planetary wealth transfers. From time one, it positioned itself arsenic an innovative alternate to accepted banks, combining speed, competitory rates and a beardown customer-centric approach. Licensed arsenic a outgo instauration by the National Bank of Belgium, it began operations nether PSD1, operating with security, transparency and afloat compliance successful the European market.

In 2017, the steadfast established a coagulated beingness successful Belgium, Luxembourg and France and successful 2019 obtained a PSD2 licence, expanding its operations crossed each of the EU. Today, it is progressive successful implicit 130 countries.

The Belmoney Remittance arsenic a work offering, says Pedras, enables firms to grow their outgo services crossed Europe without tackling the regulatory maze oregon challenging method headaches.

“RaaS empowers fiscal companies to motorboat branded remittance solutions crossed each 30 EEA countries without the request for their ain licence.

Belmoney’s implicit solution provides the regulatory, technological and operational infrastructure for firms to run successful Europe quickly, securely and successful afloat compliance. So our clients absorption connected the lawsuit experience-we grip the backend."

"Interview: Belmoney CEO Bruno Pedras connected Brexit fintech – the span reversing relocation costs" was primitively created and published by Retail Banker International, a GlobalData owned brand.

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