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Our Journey to Global Regulation: Taking the Next Steps Forward

We have some exciting news to share with you.

Last week, we were granted a Money Lender’s License in Hong Kong. This is, in fact, the first of many licenses on our roadmap, and marks the start of our journey to getting regulated.

In the next six months we’re taking big steps to become directly regulated in Hong Kong and around the world. Having the right licenses will give us the platform to be self-reliant and build even more financial services for entrepreneurs and businesses like yours.

In order to pursue global regulation, we’re enlisting the help of Bovill, a renowned regulatory consultancy

We’re thrilled to announce that we’ve started working with the regulatory consultancy Bovill. Bovill has helped over 500 firms with licensing authorisations over the years, including FinTechs just like Neat. They helped Atom Bank get their banking license in the UK, for example.

We have a vision of building the next generation of financial services for startups and young businesses like yours, and for those who have traditionally been underserved by banks.

With Bovill’s assistance on further refining Neat’s risk governance, we can continue to grow while committing to serve young companies, and maintain rigorous compliance standards.

“At Bovill, we’ve worked with a huge array of challenger banks and FinTechs in recent years. From mortgage lending to millennial savings platforms, we’ve helped nimble new entrants to financial services make the most of regulatory reforms that reduce barriers to entry globally, and get licensed in their drive to bring innovation to the sector,” says Rebecca Thorpe, Partner and Head of Asia at Bovill. 

“Neat has a big vision for what the future of banking can look like. Our aim is to guide them through this process to become regulated and help see this vision through.”

For more information, you can read our press release here.

This is just the beginning. As we move to the next chapter of our journey and attain the right regulatory licenses, we’re excited for what’s to come. Stay tuned!

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