Ex-EU commissioner joins UK finance start-up

Lord Hill of Oareford, the former EU commissioner for financial services, is joining the advisory board for UK based financial services start-up W1tty.

Following the FinTech’s launch, which will initially target generation Z, students, and other young people starting their first jobs, the company promises a suite of services, including: made to measure finance plans, money transfer, multiple accounts, video call customer service, financial education by video and podcast and crypto capability.

The business, headquartered in London but operating internationally, successfully secured for an Electronic Money Institution [EMI] licence in Lithuania, and now has full passporting rights to operate across the European Economic Area (EEA).

Jonathan Hill, a former leader of the House of Lords and Chancellor of the Duchy of Lancaster who recently led the UK Government’s Listings Review, brings experience of financial services regulation in both the UK and the EU.

“Having watched FinTech develop since my time as European Commissioner, I am excited by what W1TTY can bring to the market,” said Lord Hill.

"W1tty has something different to offer and I look forward to working with Ammar and his team as they work to turn their vision of a financial services business built around the customer into reality.”

The company is launching its smart finance app in Lithuania and Poland later this year.

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