Lord Hill of Oareford, the former EU commissioner for financial services, is joining the advisory board for UK based financial services start up W1tty, whose smart finance app is launching in Lithuania and Poland this Autumn.
Jonathan Hill, a former leader of the House of Lords and Chancellor of the Dutchy of Lancaster who recently led the UK Government’s Listings Review, brings experience of financial services regulation in both the UK and the EU.
W1tty has been granted an Electronic Money Institution (EMI) licence in Lithuania and recently secured passporting rights across the European Economic Area (EEA). It has also applied for an EMI licence in the UK and an EU consumer credit licence.
It will launch in Lithuania and Poland this Autumn with other EEA countries to follow as well as the UK once W1tty secures its licence.
The firm is pitching its money management app to Generation Z – students and other young people starting their first jobs and building their careers.