Meanings of full authorisation in English

But RateSetter, the other of the big three in the sector, is still to obtain full authorisation.

Some 800 firms sought the recognition, meaning that 650 will receive the full authorisation.

Linked Finance, a peer-to-peer lending platform, has received full authorisation by the UK's financial conduct authority to enter the UK lending market.

Zopa, the granddaddy of the P2P sector, obtained its full authorisation at the beginning of May and was followed by Funding Circle last week.

Even the big players such as Ratesetter and Funding Circle are still operating under interim permission until they obtain full authorisation later this year.

Dublin-headquartered fintech start-up Flender is looking to raise €1 million in funding after receiving full authorisation from the UK financial regulator to operate in Britain.

A flurry of companies operating under interim licences have queued up for full authorisation by the Financial Conduct Authority (FCA) to operate as P2P platforms.