Finologee said in a 24 January press release that it had a received a “support professionals of the financial sector” licence in two sectors from the Luxembourg financial regulator CSSF.

It is an authorised “client communication agent” and “secondary IT systems and communication networks operator of the financial sector”, Finoloee stated.

The company said on its Twitter account that it was the first fintech firm to be granted such a double “support PFS” licence.

According to Finologee’s press release:

“Finologee have spent the past eighteen months developing and testing the solution and will now begin implementation for their clients.

 

“The immediate focus, based on client needs, is to take live two key modules on the Finologee platform. ‘PSD2 for Banks’, a system that enables banks to meet the requirements of the revised Payments Services Directive (PSD2), will be deployed with twenty-three financial institutions. In parallel, the company’s ‘KYC Onboarding’ application, a white-labelled digital onboarding toolkit, will also be implemented including dynamic risk-based user journeys.”

The company told Delano last year that it offered white label financial services to banks and mobile operators, had partnerships with a range of companies from Clearstream to Governance.com, and already had “more than 5 major Luxembourg retail banks” on its platform.