London, UK, July 13, 2026 (GLOBE NEWSWIRE) — Transferra, a UK Financial Conduct Authority (FCA)-authorised Electronic Money Institution (EMI), announced that it has recorded increased demand for its multi-currency business account services from companies experiencing difficulties accessing financial services through traditional banking providers.
According to the company, the increase reflects growing demand from UK-based and internationally structured businesses that have experienced account closures or declined applications from mainstream financial institutions. Businesses operating in sectors including logistics, commodities trading, food supplements, and real estate, as well as companies with multi-jurisdictional ownership structures, have been among those seeking alternative banking solutions, amid tighter risk management practices following heightened regulatory scrutiny of financial crime controls across the sector.
“A number of the businesses approaching us have straightforward, legitimate operations, but their structure doesn’t fit a standard template used by larger providers,” said Alexey Reshko, Chief Operating Officer of Transferra. “An unusual structure does not necessarily indicate elevated risk.”
Regulatory Context
UK banks have faced increased compliance obligations in recent years, including expanded requirements around anti-money laundering controls and beneficial ownership verification. In response, a number of institutions have reduced their exposure to entire categories of business rather than assess individual client risk, a practice commonly referred to as de-risking. The Financial Conduct Authority (FCA) has previously raised concerns about the impact of de-risking on legitimate businesses, noting that blanket exclusion of higher-complexity clients can reduce competition and limit access to financial services for otherwise compliant companies.
Beyond banking-specific regulation, the UK’s broader financial services perimeter continues to expand. On 30 June 2026, the FCA published its final policy package covering cryptoasset trading, stablecoin issuance, and prudential requirements, with the new regime – built within the UK’s existing financial services framework rather than a standalone law – due to take effect from 25 October 2027.
The move brings the UK’s approach broadly in line with, though structurally distinct from, the EU’s Markets in Crypto-Assets Regulation (MiCA), reflecting a wider pattern of UK regulators extending oversight into previously under-regulated areas of financial activity. For EMIs already working with clients whose operations touch adjacent, fast-evolving sectors, the direction of travel is clear: regulatory clarity is arriving, not retreating, and providers built to accommodate evolving compliance requirements are better positioned than those treating such clients as exceptions.
Sector Trends
Growth in the EMI-based business banking sector continues to outpace traditional providers. Publicly available financial disclosures from EMIs licensed in the UK and EU point to annual revenue growth in the 30-40% range. Several cross-border payment providers have used this momentum to expand their European footprint, adding local IBAN coverage and establishing physical offices in new jurisdictions. In Lithuania, which hosts a substantial share of Europe’s licensed fintech firms, income from licensed EMI and payment institution activity grew 25% year-on-year in 2024 to reach €622 million, while total payment volumes processed by the sector climbed 57% since 2022.
Transferra provides multi-currency business accounts, SWIFT, SEPA, API and ACH payment processing, VISA debit cards, and foreign exchange services. The company assigns each client a dedicated account manager as part of its account servicing model.
“Our approach is to assess each business individually rather than apply a blanket policy to entire categories of company,” Alexey said. “As compliance requirements continue to evolve, we expect more businesses with international operations to look for providers built specifically around that, rather than treating it as an exception to a standard process.”
The pattern of account closures and application refusals has been documented across the UK financial services sector, with affected companies frequently receiving limited or no explanation for the decision. Transferra positions its account offering as an option for businesses in this position, particularly those requiring multi-currency functionality across several jurisdictions.
About Transferra
Transferra is a UK-based, FCA-regulated Electronic Money Institution offering multi-currency business accounts, SWIFT, SEPA, API and ACH payment services, VISA debit cards, and foreign exchange. The company serves businesses with international operations and complex ownership structures. More information is available at transferra.uk.