Yaspa Company Profile

Background

Yaspa, formerly known as Citizen, is a UK-based fintech company founded in 2017. The company specializes in providing instant bank payment solutions and identity verification services, leveraging open banking technology to streamline financial transactions. Yaspa's mission is to connect identity and money, simplifying and accelerating payment processes for businesses and consumers alike.

Key Strategic Focus

Yaspa's strategic focus centers on delivering fast, secure, and cost-effective payment solutions through open banking. The company's core objectives include:

Instant Bank Payments: Enabling customers to make secure payments and deposits directly from their bank accounts without the need for cards, codes, or additional apps.

Real-Time Payouts: Facilitating immediate refunds, withdrawals, and payouts to verified customer accounts, either manually or through automated processes.

Account Verification: Reducing fraud and Know Your Customer (KYC) time by verifying customer bank accounts seamlessly, ensuring faster and risk-free payments.

Verification Plus: Transforming KYC processes with real-time data and insights on customer affordability, source-of-funds, and key risk markers.

Virtual Accounts: Creating instant e-money accounts with individual virtual International Bank Account Numbers (IBANs) in sterling and Euro, ready for immediate use.

Yaspa targets a diverse range of industries, including iGaming, eCommerce, electronic Point of Sale (ePOS), utilities, charities, and trading platforms, aiming to enhance payment velocity, security, and consumer trust across these sectors.

Financials and Funding

Yaspa has secured funding from several notable investors, including Fin Capital, SGH Capital, and Metavallon VC. The company operates across the UK and Europe and is regulated by the UK's Financial Conduct Authority.

Technological Platform and Innovation

Yaspa's technological platform is built upon open banking principles, enabling direct account-to-account transactions that are faster, more secure, and cost-effective compared to traditional card payments. Key technological innovations include:

Open Banking Integration: Utilizing open banking APIs to facilitate seamless and secure financial transactions.

Real-Time Data Processing: Implementing systems capable of processing payments and verifications instantly, enhancing user experience and operational efficiency.

Advanced Security Measures: Employing bank-grade security protocols to protect against fraud and ensure compliance with regulatory standards.

Leadership Team

Yaspa's leadership team comprises experienced professionals with diverse backgrounds in technology, finance, and marketing:

James Neville: Co-founder and CEO. With over a decade of experience as a founder and previous roles as CTO at Worldpay and Just Eat, James is a leading expert in payments and identity verification. He holds an MBA from Cass Business School.

Dr. Toby Sucharov: Chief Technology Officer. Toby co-founded Corosin, which was acquired by Playtech in 2015. He holds several patents and a PhD in Medical Physics from the University of Sheffield.

Amie Kadhim: Chief Operating Officer. Amie leads Yaspa's sales and compliance teams, with experience in legal, financial, tech, and sales industries, including at PaymentSense/Dojo. She has a degree from the University of London and a diploma in law.

Kate Marsden: Chief Marketing Officer. Kate has an MBA from London Business School and over 25 years of experience in the tech and digital space, including roles at BT, Defaqto, RiskScreen, and various startups.

Max Collinge: Head of Product. Prior to joining Yaspa, Max spent over five years developing NatWest's open banking solution, PayIt, bringing extensive expertise in payments to drive Yaspa's product roadmap.

Leadership Changes

In July 2023, Yaspa appointed Dr. Toby Sucharov as Chief Technology Officer. Prior to joining Yaspa, Toby was Head of UK Innovation and Head of Games Platform-as-a-Service at Playtech.

Competitor Profile

Market Insights and Dynamics

The fintech industry, particularly in the realm of open banking and instant payments, is experiencing significant growth. Businesses and consumers are increasingly seeking faster, more secure, and cost-effective payment solutions, driving innovation and competition in the sector.

Competitor Analysis

Yaspa operates in a competitive landscape with several key players offering similar services:

Zimpler: A Stockholm-based company providing mobile payment solutions, focusing on simplifying online payments.

Noda: A London-based financial software company offering open banking solutions for seamless payment processing.

Volt: A London-based firm specializing in real-time payments through open banking, catering to various industries.

Boodil: A Manchester-based company offering payment solutions leveraging open banking technology.

Vyne: A London-based financial software company providing account-to-account payment solutions.

Strategic Collaborations and Partnerships

Yaspa has established significant partnerships to enhance its service offerings:

ISX Financial: In May 2024, Yaspa partnered with ISX Financial to strengthen its instant payments and payouts, simplifying adoption for more businesses. This collaboration allows companies using Yaspa to open business accounts with ISX Financial, securely managing funds received and executed through Yaspa's services.

Playbook Engineering: In February 2025, Yaspa partnered with Playbook Engineering to provide cutting-edge instant bank payment solutions for online betting sites, expanding its presence in the iGaming industry.

Operational Insights

Yaspa's strategic considerations include:

Market Positioning: Differentiating itself through a focus on integrating identity verification with payment solutions, enhancing security and user trust.

Competitive Advantages: Offering a modular approach to payment solutions, allowing businesses to select services tailored to their specific needs, and providing a seamless user experience with instant transactions.