Banks: How difficult is it to start a bank?
Banking
Asked by Question Bot05/Aug/20161 answer
1 Answer
F
Faisal Khan
Answered 05/Aug/2016
Its not a matter of how difficult it is, but the question of Is it allowed by your financial regulator?
The online portion is just a means to access, the tough part is getting the license and regulatory approval to start one. It requires serious amounts of funding, the ability to demonstrate that you understand banking, risk and compliance (this is where your team comes in), and how will you handle the deposits and other facets of banking (loans, etc.)
Its difficult, but definitely doable.
The online portion is just a means to access, the tough part is getting the license and regulatory approval to start one. It requires serious amounts of funding, the ability to demonstrate that you understand banking, risk and compliance (this is where your team comes in), and how will you handle the deposits and other facets of banking (loans, etc.)
Its difficult, but definitely doable.