# FairFX Group launches self-issuance of cards and commercial finance capability
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-04-06
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: FairFX Achieves Milestones in Digital Banking Expansion
Meta Description: FairFX reaches key milestones with self-issuance of Mastercard cards and launch of commercial finance capability, enhancing digital banking offerings.
URL: https://financedigest.com/fairfx-group-launches-self-issuance-of-cards-and-commercial-finance-capabilityhtml

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FairFX, the e-banking and international payments group, is pleased to announce the achievement of two further milestones as part of its digital banking strategic plans, with the commencement of self-issuance of Mastercard branded cards and launching a commercial finance capability to its business banking customers.

Self-issuance allows the Group to consider multiple options for issuance of cards across its entire product suite and delivers the stated objective of achieving increasing economies of scale, whilst selectively internalising appropriate parts of the value chain. Developing this facility was made possible through the Group’s e-money licence and its principal membership of Mastercard (as announced in December last year).

In addition, the Group has launched a commercial [finance capability through a collaboration with Alternative](https://www.financedigest.com/demystifying-alternative-finance.html "DEMYSTIFYING ALTERNATIVE FINANCE") Business Funding, which connects customers with appropriate and properly regulated lenders.  The Board believes this is a natural extension of the Group’s comprehensive [digital banking](https://www.financedigest.com/standard-chartered-rolls-out-digital-bank-in-hot-singapore-market.html "Standard Chartered rolls out digital bank in hot Singapore market") offering through the CardOneBanking platform. [Customers will be able to access a variety of funding](https://www.financedigest.com/impact-com-fiscal-year-h1-2021-1-5b-valuation-150m-in-funding-bigcommerce-integration-69-customer-growth.html "impact.com Fiscal Year H1 2021: .5B Valuation, 0M in Funding,  BigCommerce Integration, 69% Customer Growth") options online, including loans which can be approved in hours rather than days. The provision of this service adds a crucial banking capability and will broaden the appeal of the [Group’s offering](https://www.financedigest.com/uks-morrisons-agrees-to-raised-9-3-billion-offer-from-fortress-led-group.html "UK’s Morrisons agrees to raised .3 billion offer from Fortress-led group"), whilst improving the ability to add more business customers without taking on any credit risk.

**Ian Strafford-Taylor, CEO of FairFX, said:**“Achieving the milestones of issuing the first cards under our Mastercard license, and adding a commercial finance capability to our [digital Banking](https://www.financedigest.com/being-the-best-digital-bank-is-not-enough.html "Being the Best Digital Bank is Not Enough") suite are important steps forward for the FairFX Group. The [successful launch of self-issuance is testament to the Group working](https://www.financedigest.com/how-to-make-hybrid-working-successful.html "How to make hybrid working successful") as a unified team with the CardOneBanking banking team in Chester, ably led by CEO and Banking Head Adam Rigler, alongside other areas in the Group.  _Together, these [successes tie in with our twin strategies](https://www.financedigest.com/how-to-establish-a-successful-technology-strategy.html "How to establish a successful technology strategy") of increasing efficiency whilst adding new products.”_

**Adam Rigler, Head of Banking for FairFX Group and CEO of CardOneBanking said:**“Self-issuance enables us to better manage the [service levels](https://www.financedigest.com/is-ai-taking-quality-and-cost-optimization-of-enterprise-services-to-the-next-level.html "Is AI taking quality and cost optimization of enterprise services to the next level?") we can offer to our customers which will further improve customer satisfaction and thereby retention.  Furthermore, offering quick and simple access to commercial finance is in response to requests from our current customer base as obtaining [funding for SME’s from traditional lenders can be difficult and time](https://www.financedigest.com/female-founders-still-struggle-to-get-funded-time-to-rip-up-the-old-rulebook.html "Female Founders Still Struggle to Get Funded: Time To Rip Up The Old Rulebook") consuming.”

The information [contained within this announcement is deemed to constitute inside information as stipulated under the Market](https://www.financedigest.com/grab-and-go-containers-market-anticipated-to-have-positive-potential-during-the-forecast-period-fmi.html "Grab and Go Containers Market anticipated to have positive potential during the forecast period.: FMI") Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.


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