FinTech License
Simplified banking license for fintech companies accepting public deposits up to CHF 100 million without investing or paying interest on deposits.
Banking Act (BankA) Art. 1b, AMLA Art. 3
Capital Required
CHF 300,000 minimum + 3% of public deposits held
Timeline
6-12 months
Fees
CHF 10,000-50,000 application + CHF 3,000-15,000 annual
Regulatory Body
Swiss Financial Market Supervisory Authority (FINMA)
Legislative Framework
Financial Market Infrastructure Act (FMIA), Banking Act (BankA), Financial Institutions Act (FinIA), DLT Act 2021, Anti-Money Laundering Act (AMLA)
Last updated: June 2025
Key Requirements
Public deposits capped at maximum CHF 100 million aggregate outstanding balance
Prohibition on paying interest on deposits or investing client funds in securities or real estate
Segregated deposit accounts held in trust with at least one Swiss bank as deposit-taking partner
Qualified management with minimum 2 persons with banking license experience and regulatory approvals
Comprehensive AML and KYC procedures compliant with AMLA Art. 3-15 and FINMA Guidelines
Cyber security and data protection infrastructure reviewed by independent assessor
Insurance coverage including professional indemnity and cyber liability with minimum CHF 2 million coverage
Annual compliance certifications and management representation letters to FINMA
Application Process
Prepare and submit FinTech License application to FINMA with organizational structure and business model documentation
FINMA pre-review assessment (2-3 weeks) for application completeness and preliminary fit-and-proper evaluation
Provide detailed AML/KYC procedures, compliance manuals, and evidence of deposit-taking partner agreement
Submit management fit-and-proper assessment forms and background checks for board and senior management
FINMA on-site visit (if required) to assess premises, IT infrastructure, and organizational readiness
Final FINMA decision and issuance of FinTech License with specific conditions and operational restrictions
Expected Total Timeline
6-12 months
Ongoing Obligations
After obtaining your FinTech License, these are the continuing compliance requirements you must maintain.
Monthly reporting of deposits held, deposit-taking partner agreements, and capital adequacy to FINMA
Annual independent audit of financial statements and compliance with deposit restrictions by qualified auditor
Quarterly submission of AML suspicious activity reports and compliance certifications
Maintain capital reserves at 3% of total deposits or minimum CHF 300,000, whichever is higher
Notify FINMA immediately of any material changes to business model, management, or deposit-taking arrangements
Conduct semi-annual compliance reviews and update risk assessments with remediation plans submitted to FINMA
Cost Summary
Capital Requirement
CHF 300,000 minimum + 3% of public deposits held
Application & Licensing Fees
CHF 10,000-50,000 application + CHF 3,000-15,000 annual
Jurisdiction Setup Cost
$55,000-$220,000
Annual: $80,000-$200,000
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Need help with FinTech License?
Our team manages the full Switzerland licensing process -from application preparation through post-approval implementation.
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