Fast-growth RegTech business Tintra PLC has in its latest announcement unveiled plans to secure banking licences across four continents, to enable it to operate to the highest regulatory standards as it revolutionises the global financial market.
Focused on building a socially and fiscally inclusive banking platform that will make access to the global marketplace as seamless in Africa, Latin America, or Asia tomorrow as it is in Europe or the United States today, Tintra is already developing advanced RegTech infrastructure built solidly upon artificial intelligence and machine learning to eliminate bias in global compliance.
In March, the company announced a strategic move of applying for a Small Bank Licence in the UK, as well as EMI authorisation from the FCA, to add to the already-announced Qatar and Puerto Rico licences.
This month, the fourth piece of the puzzle was announced as Tintra confirmed it had formed a company in Singapore with the intention of hiring a team there to begin the process of understanding the regulatory steps toward a Singapore banking licence application during 2023.
In doing so, the forward-thinking RegTech business ensures that it fulfils its model of being a regulation-first technology business, whilst enabling it to move beyond a ‘tech wrapper’ and become a fully operational bank, without the challenges and restraints of existing legacy infrastructure.
Richard Shearer, CEO and Founder of Tintra PLC, comments: "At our core we are building a financial services infrastructure using deeply innovative, patentable, AI & ML technology to solve the problems of compliance in the emerging world that others are not. To do this we've always seen that we want to be regulated at the highest level and ‘be the bank not just the fintech’ as we discuss internally.
“Within the next three months or so we will be engaged with bank licence applications on three continents - something that I'm immensely proud of the team for undertaking - and by next year taking that up to four. It means that we are positioning the entire business to operate to the highest regulatory standards by applying the collective requirements set out by these three important global regulators for robust governance, controls, and risk management practices.
Where other fintech or regtech businesses can only iterate, Tintra will truly innovate. We are building something game-changing here, and each week brings the vision closer to reality."