Leading the Evolution of FinTech
Prepaid Financial Services (PFS) is currently one of the fastest growing financial services, technology companies and e-money payment institutions in Europe. We caught up with the firm’s CEO, Noel Moran who revealed to us how PFS stays ahead of the game in an ever-changing industry.
For the past 10 years, the Prepaid Financial Services name has brought a consistent air of prestige to the innovative FinTech landscape. It is a Financial Conduct Authority regulated entity. PFS operates in the high-tech prepaid payments, electronic money, and alternative banking space. The company provides prepaid cards, e-wallets, corporate solutions, payroll cards, virtual cards, mobile payments, contactless, HCE solutions, travel cards, government solutions and so much more. Did you know that PFS is one of Europe’s fastest-growing Mastercard issuers? But that does not tell the full extent of the story.
PFS is an issuer, programme manager, acquirer, and technology provider all in one. It has the advantage of currently being live in 24 countries around Europe with plans for international expansion in several countries in Africa and Asia. The firm now processes 22 different currencies and this figure is also set to increase in time. 2018 has been a standout year. PFS has issued over 1,000,000 new accounts this year and will process over £2 billion GBP. These are the numbers that other companies only dream of. This FinTech has become accustomed to regularly breaking records and making positive global industry related headlines. The PFS name has been seen in the news by well over 1.1 billion people around the world.
In addition to this, PFS is the reigning European Digital Technology Champion. It has enjoyed meteoric growth as it continues its adventures in evolving the rate of FinTech development. The next major leap is launching an IPO in Summer 2019. This will help to accelerate the growth of the business globally. PFS is looking to expand into the African and Asian markets next year, as Noel explains.
“Today, we are live in 24 countries. Our master plan is to have a more international presence. We closely study the regulatory landscape around the world and it is changing. Regulators appear to be following the example of a progressive FinTech environment like the UK where we are authorised and regulated. “In addition to this, we look forward to taking what we have achieved in Europe and sharing the success with more countries on different continents. The speed at which we can go live in a new country is one of the fastest in financial technology as our platform is designed to be plug and play.”
At its Core, PFS works in a fast-paced, dynamic, and innovative environment. Going into detail about the clients the firm serves, Noel informs us of the approach the team takes to ensure that they deliver the best services to consumers.
“How we develop and deploy reflects the business demands and the modern business environment. Our innovative products and technology platform is utilised by governments, local authorities, NHS, Mobile Network Operators (MNOs), and corporates globally. We service about 150 white label programmes and in excess of 2,500 corporate clients. It is heartening to see that PFS is a FinTech chosen by fellow FinTechs to create solutions with the fastest turnaround times in Europe for what we do in an agile-friendly environment.”
“When discussing the internal culture at PFS, Noel is keen to highlight the role the staff play in the success of the firm, noting on how the company attracts the very best talent within the industry.
“Here at PFS, our team is hugely important to us – they know this industry inside out. Employees own 95% of PFS. We like to acknowledge and appreciate the hard work put in by each and every employee across our four offices. Additionally, we attract talented, driven, and highly qualified professionals who have a great amount of experience in the sector.”
Looking ahead to what the future holds, Noel signs off by revealing the exciting plans which lie in the pipeline for the firm, especially following their recent success in Acquisition Intl.’s Global Excellence Awards as the Most Progressive Financial Services Provider – UK.
“Moving forward, our expansion into exciting new markets and the IPO next year promise to open up a host of opportunities for innovation, growth, and development. Other FinTechs simply cannot move as quickly as us. This is a truly dynamic workplace for top of their game Developers who like to work on a wide array of projects and deliver shippable product in record time. Overall, we do not only strive to be the best – we aim to lead the evolution of FinTech.”
Company: Prepaid Financial Services
Website: www. prepaidfinancialservices.com
