Fiinu confirms delay to Plugin Overdraft launch with Conister Bank

(Sharecast News) - Fiinu said on Tuesday that the planned launch of its 'Plugin Overdraft' product with Manx Financial Group and subsidiary Conister Bank was now expected in the second quarter of 2026, reflecting final development requirements.

The AIM-traded firm noted that Conister had received regulatory approval for the Plugin Overdraft product, and confirmed that the parties were currently undertaking user acceptance testing of the agreed minimum viable product.

It said all Fiinu-side final MVP configuration delivery dates were scheduled for completion this quarter, after which it intended to develop an outbound third-party payment interface for Conister.

While the original target had been a first-quarter 2026 launch, the board said the additional requirements meant Conister was unlikely to launch until the second quarter.

Fiinu added that most core banking, AI-driven underwriting and servicing functionality was already operational in a test environment and that it would provide a further update on launch progress and early performance metrics in due course.

The group said it continued to see significant unmet demand in the UK, US and EU overdraft markets and believed the product was well positioned to address reduced access to traditional overdraft facilities in the UK following regulatory changes.

At 1152 GMT, shares in Fiinu were down 6.42% at 7.72p.

Reporting by Josh White for Sharecast.com.

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