Switzerland awarded their first Fintech only banking license. A new type of banking license, one recognising the different regulatory impact of Challenger Banks and the power of software. Presumably light touch regulation, but we’ll see. Fintech driven loans from a bigger footprint. About a two minute read.
Comment: the Swiss are bankers of legendary skill and insight. While obvious to anyone working in the field, the need for separate licenses and regulatory handing, seems to elude most nation’s banking regulators.