The Swiss Parliament adopted the Financial Institutions Act
(FinSA) and the Financial Services Act (FinIA) on 15 June 2018. In
the course of this fundamental legislative project, it also
implemented a previously announced initiative that aims to benefit
innovative financial businesses: It introduced the legal basis for
a new regulatory licence type, commonly referred to as 'fintech
licence' or 'banking licence light' in a new article
1b of the Federal Banking Act (BankA). On 30 November
2018, following a consultation period, the Federal Council adopted
a number of amendments to the Federal Banking Ordinance (BankO),
specifying the requirements that will apply to applicants and
holders of a fintech licence and thereby defining the statutory
framework for the new licence type in more detail.1 The
new provisions of the BankA and the BankO will enter into force on
1 January 2019, opening up new and more flexible business
opportunities for fintech operators such as
