Flagstone Gets Regulatory Approval from JFSC

Flagstone, one of the fastest-growing fintech companies in the UK, announced today that it has secured regulatory approval from the Jersey Financial Services Commission (JFSC) for Flagstone International Limited, a new business established in Jersey.

Additionally, the London-headquartered company confirmed that Andrew Thatcher, the Co-Founder of Flagstone, has become the Chief Executive Officer of Flagstone International to facilitate the company’s international expansion.

The details provided by the fintech company highlight that initially Flagstone International will be available to the clients of Intertrust Group (Jersey) who require cash management services. The company has formed collaborations with HSBC Channel Islands and the Isle of Man.

“We are delighted to establish our new business because our research shows that there is a tremendous opportunity to build on our existing expertise in this space and offer our platform to international clients. The inertia of cash stuck in low interest-bearing accounts, due to the time required to open new accounts, is far-reaching. To be able to do this with companies of the caliber of Intertrust Group and HSBC make this opportunity even more compelling from our perspective, and we look forward to long and mutually beneficial partnerships,” Thatcher commented.

Global Expansion

The recent approval received by the company from the Jersey Financial Services Commission has enabled Flagstone International Limited to carry on Trust Company Business. In the past few months, the fintech company has accelerated its efforts to enhance its international presence.

Paul Eva, the Head of Private Wealth at Intertrust Group, said: “We have known Flagstone for a number of years and have been talking to them about the development of their solution for the international market for some time, so we are delighted to partner with them on the launch of the new business and believe that their service will solve a key issue which is common to many clients in offshore territories around the world.”