The information contained within this announcement is deemed by the Company to constitute inside information under the UK Market Abuse Regulations. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

15 January 2025

Fiinu Plc

("Fiinu", the "Company" or the "Group")

Fiinu signs heads of terms for its first white-label BaaS deal with a UK Bank

Fiinu, a fintech group and creator of the Plugin Overdraft®, announced today that it has entered into non-binding heads of terms for its first white-label deal for its flagship Plugin Overdraft® product with an independent UK bank. This collaboration will see Fiinu provide the bank with its AI advanced white-label Banking-as-a-Service (BaaS) platform, incorporating its Plugin OverdraftÒ product. The Bank Independent OverdraftÒ platform will fully integrate into the bank's existing treasury, regulatory reporting and accounting systems. Initially documented in Heads of Terms, this agreement represents a key milestone in Fiinu's growth strategy and is the culmination of nearly 12 months of discussions between the parties.

Conditions and Next Steps:

The Heads of Terms are subject to contract, including any necessary regulatory approvals, executing a Master Service Agreement (MSA) and Service Level Agreement (SLA) for Fiinu to provide a turnkey technology solution including, but not limited to, ongoing customer support. The partnership's success is contingent upon the timely completion of these prerequisites and testing of the systems and interfaces. The parties have agreed to an exclusivity period of 12 months for the UK from the go-live date. The final product specifications must also be confirmed before any formal agreement is entered into. The UK bank is expected to launch the product during Q4 2025. Once launched, Fiinu will receive royalty fees from the bank's audited profits from the Plugin Overdraft®.

Further announcements will be made as appropriate.

Dr Marko Sjoblom, CEO of Fiinu plc, commented:

"We believe our Plugin Overdraft® platform is a valuable asset, and we remain committed to unlocking the full value of our proprietary intellectual property and AI offerings in a manner that aligns with the market's needs and long-term objectives. We are firm believers in Open Banking-enabled technology for unbundling financial services through the innovative application of AI. By way of example, our Plugin Overdraft AI underwriting agent benefits from artificial neural networks (ANN) and Markov chains (MC), which has led to the development of a new ANN-MC underwriting model.

From a strategic perspective, we maintain conversations with other banks outside the UK. We are also continuing discussions to secure Fiinu Bank's regulatory capital.

This strategic collaboration marks a pivotal step in Fiinu's journey. The partnership is a testament to the innovation and value of our BaaS platform and its potential to transform the banking experience. We look forward to working closely with our partner as we work towards delivering groundbreaking banking solutions to customers across the UK."

Forward-Looking Statements:

This announcement contains forward-looking statements. Actual results may differ materially due to various factors, including but not limited to delays in regulatory approval, unforeseen difficulties in the integration process, and changing market conditions.

About Fiinu

Fiinu, founded in 2017, is a fintech group that has developed the Plugin Overdraft®, an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank. The underlying bank Independent Overdraft® technology platform is bank agnostic, enabling it to serve all other banks' customers. The Plugin Overdraft® platform can technically access over 100 million bank accounts in the UK. Open Banking allows Fiinu's Plugin Overdraft® to attach ("plugin") to the customer's existing primary bank account, no matter which bank they may use. Fiinu's vision is built around Open Banking, and it believes it increases competition and innovation in banking.

For more information, please visit www.fiinuplc.com

~ ENDS ~