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An AML pilot which saw ten Estonian banks take part in a country-wide initiative to tackle financial crime has been lauded as a success by participating banks, preventing up to €3 million from reaching criminal-controlled accounts.
LHV Bank and European payment services provider Nets have extended their long-term partnership in Estonia, while adding new issuing services for LHV’s British subsidiary, LHV UK Limited.
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Estonia s LHV preps UK bank for fintechs 05 February 2021
8 Estonia s LHV Group is gearing up to apply for a UK licence for a standalone bank serving the fintech market. LVH opened a UK branch in 2018, providing payment services to the fintech community, including the likes of Transferwise and Coinbase.
Now the firm plans to make a split between its retail client-serving bank in Estonia and the UK business.
LVH UK has been registered as a private limited company and will shortly start the process of applying for a banking (credit institution) licence.