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ARTICLE · 05 MAY 2022

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FinTech 2022 - Trends & Developments

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Ireland's fintech sector is continuing to mature and evolve. This article sets out some of the key trends in the sector which we have observed in our financial regulation practice in recent times.

IrelandTechnology
Joe Beashel
Joe Beashel
Ian O'Mara
Ian O'Mara
Megan Fennell
Megan Fennell
Ciaran Moloney
Ciaran Moloney
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Introduction

Ireland's fintech sector is continuing to mature and evolve. This article sets out some of the key trends in the sector which we have observed in our financial regulation practice in recent times.

Change in Approach to Regulation of E-money Institutions and Payment Institutions

The second half of 2021 saw a significant change in how the Central Bank of Ireland (CBI) supervises regulated payment institutions and e-money institutions in Ireland. Both the authorisations team (which licenses new firms) and the supervision team (which supervises firms following initial authorisation) were reconstituted within the Credit Institutions Supervisions Directorate of the CBI, which is comprised of personnel who are experienced in supervising banks and complex investment firms.

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