Lanistar, a London-based fintech, is gearing up for a spring 2023 launch in the United Kingdom.
Lanistar has made significant investments over the past two years to develop a competitive offering in Latin America (LATAM), and it has successfully launched in Brazil with more than 20,000 consumers on board.
This is the outcome of major investments made in both their technology and the team led by Jeremy Baber, a veteran of the financial services industry who previously worked for GE Capital, Aldermore Bank, and Link Financial.
This early success in Brazil is incredibly encouraging, and it will be followed by additional expansion in the LATAM regions.
Lanistar anticipates reaching one million customers by mid-2023.
Due to the extraordinary demand in LATAM, Lanistar’s focus on the UK and EU has shifted. However, the company now intends to refocus its expansion on its “home-turf” leveraging the exciting and useful lessons they have learned from their offering in the Latin American market.
“The key to our launch (in Brazil) and those to follow in other parts of LATAM, has been our alliance partnership with Mastercard members, who offered a ‘Banking as a Service’ solution,’’ added Lanistar’s CEO Jeremy Baber.
‘’Lanistar has a ‘one-stop shop’ solution for market entry in the region, offering a full suite of services including Bank Accounts, Card Issuing, fully digital onboarding, and best of breed Regulatory Compliance, KYC, and Transaction Monitoring.
“This has allowed Lanistar to concentrate on customer acquisition via our ever-growing social influencer family, and best-of-breed customer service, and continue development of the customer proposition with new and innovative services. The successful launch we have seen in Brazil with Bankly/Acesso Solutions, has made us review our growth plans in other regions. This means we are making a change in the UK and EU.”
Baber describes such a change as seeking for a partner in the UK and EU who can provide the same ‘one-stop shop’ service that Lanistar provides in Latin America.
As a result, Lanistar has opted to transfer its UK and EU partner from Modulr to its current card provider, whom Lanistar believes provides the solutions Lanistar requires.
Baber clarified, “We have had a close relationship with Modulr over the past two years and respect them in the industry, but regrettably they could not offer the Full Banking solution which has been key to our success in LATAM. Our current Mastercard Partner, can now offer us that same ‘one stop shop’ for the UK and EU. Therefore, it was logical to make a clean break from Modulr and put our reliance fully on them for our full UK launch and later in the year in Europe.”
Founded in 2019, Lanistar is developing a fintech platform that delivers a whole ‘AnyMoney’ solution for its customers by utilising cutting-edge technology and collaborating with industry leaders. Customers will be able to access all of their financial goods in one spot, from basic bank accounts to cryptocurrency.
Lanistar is not a bank, but rather a payment card provider that acts as an intermediary to deliver financial services to end consumers.