Initiation of consultation on amending Banking Ordinance (fintech authorisation)
Bern, 21.6.2018 - On 15 June 2018, Parliament included provisions for promoting innovation in the Banking Act, together with the Financial Services Act and the Financial Institutions Act. A newly created authorisation category will enable companies that are not banks to accept public funds of up to CHF 100 million. The Federal Department of Finance (FDF) initiated a consultation on 21 June 2018 in order to adapt the Banking Ordinance accordingly.