Fintech Lanistar is preparing to introduce full banking services

Lanistar, a London-based fintech, is preparing for a spring 2023 UK launch.

Lanistar has made significant investments over the past two years to develop a competitive offering in Latin America (LATAM), and it has launched in Brazil with more than 20,000 consumers on board.

This is the result of major investments made in both their technology and the team led by Jeremy Baber, a financial industry veteran who previously worked for GE Capital, Aldermore Bank and Link Financial.

This early success in Brazil is incredibly encouraging and will be followed by further expansion in the LATAM regions.

Lanistar expects to reach one million customers by mid-2023.

Due to the extraordinary demand in LATAM, Lanistar’s focus on the UK and EU has changed. However, the company now intends to refocus its expansion on its “home turf” by leveraging the exciting and useful lessons learned from its offering in the Latin American market.

“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 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 issuance, full digital onboarding and best of breed Regulatory Compliance, KYC and transaction monitoring.

“This has enabled Lanistar to concentrate on customer acquisition via our ever-growing family of social influencers, and the best customer service, and continue to evolve the customer offering with new and innovative services. The successful launch we have seen in Brazil with Bankly/Acesso Solutions, has caused us to 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 searching for a partner in the UK and EU that can offer the same “one-stop shop” service that Lanistar offers in Latin America.

As a result, Lanistar has chosen to transfer its UK and EU partner from Modulr to its current card supplier, which Lanistar believes provides the solutions Lanistar requires.

Baber explained, “We have had a close relationship with Modulr for the past two years and respect them in the industry, but unfortunately they could not offer the Full Banking solution that has been key to our success in LATAM. Our current Mastercard partner can now offer us the same ‘one stop shop’ for the UK and EU. So it was logical to take a clean break from Modulr and rely fully on them for our full launch in the UK and later in the year in Europe.”

Founded in 2019, Lanistar develops a fintech platform that delivers a complete ‘AnyMoney’ solution for its clients by using cutting-edge technology and partnering with industry leaders. Customers will be able to access all their financial goods in one place, 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.