Data obtained by business news platform City AM through a Freedom of Information request has revealed that as few as 6 authorised e-money institution (AEMI) licence applications have been approved by the FCA in the last 9 months.
The information also showed that no AEMI licences were granted in Q4 2024, despite at least 10 such applications being under consideration during that period. 2 AEMI licences were granted in Q1 2025, and 4 in Q2 2025.
Only 16% of the 35 applications closed in total over the 9-month period were approved. The reduction marks a 45% fall in approvals compared to the previous year.