Foreword
In this document, the terms “licence” and “authorisation” are used interchangeably, as are the terms “bank” and “credit institution”.
As a result of technological innovation in the banking sector, a growing number of entities with fintech business models are entering the financial market. This is mirrored by the increasing number of credit institution licence applications submitted for authorisation to the European Central Bank (ECB) by such entities. These “fintech bank” licence applications, as discussed in this Guide, concern credit institutions as defined in Article 4(1)(1) of the Capital Requirements Regulation (CRR).
“Fintech” is an umbrella term encompassing a wide variety of business models. In line with the ECB’s responsibilities, this Guide refers to bank business models in which the production and delivery of banking products and services are based on technology-enabled innovation.
ECB policies that apply to the licensing of banks within th
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