Algbra, the ethical and values-focused FinTech, has received full authorisation from the Financial Conduct Authority (FCA) to operate as an Electronic Money Institution (EMI).
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Algbra Co-Founders Zeiad Idris and Fizel Nejabat (Photo: Business Wire)
Algbra’s pioneering proposition – with the principles of ESG and Shariah-compliance at its core – leads the movement towards values and lifestyle-based banking that is defining the next evolution of financial services. Algbra’s offering includes a sustainable card; the ability to make direct charitable donations to UK-registered charities; carbon tracking to review the impact of purchases; and the option to offset that carbon footprint with a few taps. Algbra requires all partners to sign up to its ethical standards, including clarity on where consumers’ money is held – ensuring customer funds are not held or invested in unethical industries. The EMI license now enables Algbra to build …