Form3 helps LHV Bank connect to UK Faster Payments

Thursday 18 October 2018 08:43 CET | News

Form3, a UK-based cloud technology provider of payments-as-a-service for banks and regulated fintechs, has gained a new client – LHV Bank.

LHV Group, Estonia-based banking group, is moving into the UK market and has selected Form3 to provide a fully managed service connecting the bank directly to the UK Faster Payments infrastructure. LHV will join the scheme as a directly connected participant (member) in 2019.

Earlier in 2018, LHV secured an approval from the UK regulator, Financial Conduct Authority (FCA) and opened a branch in London. The bank already has around 30 financial institutions and fintechs as clients in the UK, including Coinbase and TransferWise.

Complementing its direct membership of the Euro Payments System and participation in the Euro Instant Payments System working group, LHV will now use Form3’s cloud-native payments service to connect to the UK Faster Payments scheme, enabling LHV’s customers to send and receive GBP payments in real-time.

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Keywords: Form3, LHV Bank, UK Faster Payments, Payments-as-a-Service, fintech, payments
Countries: World