Andaria Financial Services
Andaria Financial Services is an e-money institution focused on providing business accounts.
The company says its account provides access to more than 100 currencies and real-time foreign exchange, allowing banks to avoid the high exchange rate markups charged by banks.
It allows accounts to hold up to 25 currencies, and all accounts can be viewed from a single login. It supports the instant UK domestic, cross-border, and Swift payments, and comes with a debit card.
It is possible to create a customized hierarchy of sub-accounts, including summarized and segregated accounts, for managing suppliers and expenses.
In addition, there is multi-user access, including admin access to make payments and manage users; viewer access to view accounts and download statements; and approver access for added security, including dual-eye verification.
Andaria is a regulated financial services firm in the EU and the UK, authorized by the Malta Financial Services Authority (MFSA) and the Financial Conduct Authority (FCA).
Andaria was founded in 2018 by Patrick Seguev (Linkedin).
Our research has shown that there seems to be an AML scam around the company.
In principle, we could not identify any other irregularities in connection with Andaria, but to be on the safe side, we have placed the company on our “Orange Compliance” list until the allegations have been clarified.