Mihkel Vitsur: 5 Years, 5 Fintechs

March 22, 2024
1 min read


  • Switzerland celebrated five years of Fintech License implementation, marking a new wave of innovation in the financial landscape.
  • Five active Fintech licenses include Yapeal AG, Klarpay AG, SR Saphirstein AG (Fiat24), SWISS4.0 SA, and Relio AG, each modernizing finance within their niches.

Mihkel Vitsur’s article for finews.first discusses the significant impact of the Fintech License in Switzerland, solidifying the country’s position as a global leader in financial technology innovation. The regulatory framework in Switzerland provides distinct advantages for fintechs, including the ability to adopt bank-like structures and safeguard client assets with the Swiss National Bank. Despite these benefits, fintech companies face challenges, such as a lack of understanding of the regulatory framework and restrictions on offering interest on public deposits. Building trust and stability is crucial, as fintechs are perceived as more vulnerable than traditional banks. To address these challenges, a deposit guarantee scheme could bolster consumer confidence and position Switzerland as a leader in fintech regulation. Additionally, the 100 million francs cap on public deposits poses risks for fintech firms and may hinder their ability to scale. The pathway for licensed fintechs to transition into banks lacks predictability, creating uncertainty for investors. It is essential for Switzerland to maintain a balance between innovation, regulatory oversight, and financial system stability to remain a fintech leader while ensuring the security and resilience of its financial sector.

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