Lanistar breaks records with 100,000 users in 72 hours FCA scraps warning

CEO of Lanistar hails world record breaking success as the company app receives 4.1m impressions and FCA withdraws warning

by Patrick Sullivan, Political Editor on 20 November 2020 20:29

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The FCA has formally withdrawn its public warning over Lanistar, according to a statement on its website. Lanistar, a British challenger brand which employees 150 people in the UK has made it clear that legal and regulatory compliance are central to the company’s business model and that it would not be providing financial services or products without the FCA’s authorisation. The company also said that its intended future services be through partnering with firms that are authorised by the FCA to provide financial services or products.

The news comes as Lanistar announced it had already signed up over 100,000 users interested consumers on its waiting list and achieved a staggering 7.8million engagements via its influencer content on Instagram in the first 72 hours.

Additionally, the company secured an eye-watering 70,000 followers on Instagram and 4.1 million clicks on the company’s online appstore. Lanistar’s signature Volt card is the world’s most secure card.

The card includes its own keypad and display – a global first – allowing users to generate one-time PINs and CVV2 codes which expire after one use.

Thanks to its polymorphic technology, the card also allows users to add up to eight bank cards on the Lanistar card and swap between them using the keypad.

The cards will also have limited personal details on the card itself to protect users. People can use a Lanistar card anywhere that Mastercard is accepted globally, and can pay with and convert multiple currencies including Euros, Danish Krone, Bulgarian Lev, Norwegian Krone, Polish Zloty, Hungarian Forint, and more. Within the app, users can monitor activity across all of their payment methods including Lanistar, change the payment card used up to seven days after a payment was made, set financial goals, and round up and split payments. Users will be able to sign up for three types of account: Chrome (free), Chrome X (£3.99/month early bird)(£5.99/month), Chrome Volt (£14.99/month early bird) (£19.99/month) , each with varying benefits.

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