Financial Crime World

Here’s the converted markdown article:

Swiss Fintech Licence: A Balanced Approach to Regulation

Zurich, Switzerland - The Swiss fintech licence has been gaining popularity among financial technology companies in recent years. This innovative approach to regulation offers a flexible and principle-based framework that allows fintechs to operate with legal certainty while also boosting the attractiveness of Switzerland as a hub for financial businesses.

Costs Associated with Fintech Licence

In addition to FINMA’s fees, fintech companies must also consider other costs associated with obtaining a licence. These include:

  • Founding costs
  • Advisory costs for policies and documents required by regulation
  • Costs of capital to meet regulatory capital requirements
  • Auditor and initial audit report costs
  • Infrastructure costs such as office and IT expenses

Phases of the Licence Application Process

The licence application process typically involves three phases:

  1. Preparing the Application: This phase can take around 2-4 months.
  2. Responding to FINMA’s Questions and Additional Requirements: Each company must respond to FINMA’s questions and additional requirements, which can take significant time and resources.
  3. Operational Implementation: This phase can take up to 6 months.

Benefits of Swiss Fintech Licence

The Swiss fintech licence offers an interesting alternative to a banking licence and makes it easier for fintech companies to enter the Swiss financial market. With its balanced approach to regulation, the licence creates legal certainty and boosts Switzerland’s attractiveness as a hub for financial businesses. Attractive taxation models, outstanding infrastructure, and a large talent pool further contribute to Switzerland’s appeal.

PwC: Your Partner in Fintech Regulation

At PricewaterhouseCoopers (PwC), we have extensive experience in advising fintech companies on regulatory matters. Our team of experts can help you efficiently align your business model with legal and regulatory requirements, turning regulatory costs into strategic advantages. We offer a range of services, including:

  • Advice on legal and regulatory issues
  • Structuring and setting up corporate structures
  • Support with financial market licences
  • And more

Meet Your Team

Our Swiss fintech team consists of experts in legal, regulatory, and technical matters. Meet our team leaders:

  • Thomas Schwyter, Senior Manager
  • Michael Kremer, Manager
  • Benjamin Bürgi, Senior Associate
  • Tina Balzli, Partner, Head Banking, FinTech and Blockchain
  • Carmen Sameja-Jaberg, Senior Manager

Contact us to learn more about how we can support you in your fintech journey.

PwC Contact Information

PricewaterhouseCoopers AG Birchstrasse 160, 8050 Zurich +41 58 792 44 00 thomas.schwyter@ch.pwc.com

Note: This article is based on a press release from PwC Switzerland.