Financial and payments service provider, LHV has confirmed that corporate pre-paid payments solution provider, B4B Payments (B4B) is the latest fintech customer of its London branch.
As part of the agreement, FCA authorised B4B will gain access to LHV’s full service offering including its payment infrastructure and real-time Euro and Sterling payments capability via Single Euro Payment Area (‘SEPA’) Instant and Faster Payments schemes respectively.
Andres Kitter, Head of LHV’s UK Operations, commented: “Our decision to establish a presence in London post the 2016 Brexit referendum was to increase our presence in what remains one of the leading financial and fintech sectors in the world and in the process attract customers of the calibre of B4B. The company has been operating for fifteen years, which shows significant experience and market resilience and we are delighted that two profitable organisations are partnering for continued growth.
“In a little over two years, we have not only quadrupled customer numbers in our London office to 120 but also significantly diversified our client base so that the companies we serve range from payment service providers to FX brokers and from startups to established financial institutions and unicorns.
“All our clients are subjected to comprehensive onboarding procedures and due diligence and encouragingly we have a growing pipeline of potential customers currently undergoing this process. I am therefore confident that the momentum behind our London operations will be maintained going forward.”
In addition, B4B will benefit from access to LHV’s Application Programming Interface ‘LHV Connect’, which offers a wide range of services, including GBP and EUR safeguarding accounts, Virtual IBANs, currency exchange, liquidity services and,where appropriate, financing.
B4B CEO and co-founder, Paul Swinton added: “We looked at a number of providers to provide safeguarding and virtual IBAN capabilities. LHV came out on top due to their flexibility, functionality and value proposition. We migrated our clients easily onto the platform and we are very happy with the service to date. LHV will also be able to support us when we establish our European operation later this month with a one-stop solution.”