Andaria is a fintech and licensed EMI. Through our multicurrency business accounts and embedded payments solutions, Andaria is dedicated to making financial services accessible, inclusive, simple and transparent for all businesses.
Website
2020
Head office
Malta
Country offices in
London and Malta
Geographical coverage (operational area)
UK & Europe
Founder(s)
Patrick Seguev; Nirav Patel
Number of employees
52
Member of industry association and/or initiatives
Payments Innovation Forum, Finance Malta, Malta Chamber of Commerce, Malta Chamber of SME's. FIMA, AJBN, Malta Enterprise
Contact
reachus@andaria.com
The company`s core solutions
Modular services including multi-currency business accounts, dedicated IBANS, domestic and global payments, KYC, reporting and onboarding that clients can customise to generate a bespoke embedded payments solution.
Major use cases & Products
Remittances, accounts, payments, Embedded solutions are sector agnostic however some examples Embedded Earned wage access solution (B2B2C), Embedded Accounts Receivable/ Payable solutions (B2B2B)
Specialisation/Verticals
Businesses in most verticals can use Andaria's services
Competitive advantage
Andaria offers simplicity, cost effectiveness and multiple payments channels - both domestic and international. We combine licenced services with modular technology to flex to clients’ needs.
Target customers
Brands, software providers, merchants, corporates
Current customers
GIG, Workerappz, Intercash
Technologies/tech stack/capabilities
APIs, cloud
Technology partners
We have a range of providers that are integrated with and form part of our orchestration layer.
Bank partners
Banking Circle, ClearBank, Convera
Go-to-market strategy
We work with referral partners as well as direct to market in the UK & Europe.
Category
E-money institution for payment accounts and B2B embedded payments provider.
The key layers that the provider is active in
Licence holder, partnering with integrated technology providers to support a range of services. Supported by strong governance and compliance structure.
Licence
EMI licences (UK and Malta)
Actions taken to reduce or prevent the negative impacts of potential risks
Strong Governence principles predicated on a 3 lines of defence model. Extensive compliance structure in place to mitigate any risks. Risk Register in place with KPI equivalent controls to monitor and control risk. Robust KYC/KYB and transaction monitoring systems in place. A strong focus on inforamtion & cyber security as a digital first solution.
Pricing model
Varies according to services provided.
Revenue streams
Account fees, transaction fees, implementation fees for large projects.
Examples
Available via our sales team: reachus@andaria.com
Existing features
Business current accounts covering SEPA, SWIFT, Faster Payments and 24 currencies. Embedded Payments offering packages Account Creation, KYC, Compliance, vIBANs.
Planned features and releases/future plans
New card scheme partnerships, reporting solutions, global expansion.