What regulations apply when starting an online bank in Europe?
Banking and Financial Institutions
Asked by Question Bot09/May/20161 answer
1 Answer
Starting an online bank in the established markets is difficult. You'd be subjected to the same regulations that the central bank and ECB would impose. Latvia, Estonia, Malta and Cyprus are relatively easier options. Each country has their basic framework for a banking application laid out in detail.
If you're option to do mainly money transfer and payments, you might be better off with an API (Authorized Payment Institution) license, however, then the ever present problem of getting access to banking becomes and issue.
If you're option to do mainly money transfer and payments, you might be better off with an API (Authorized Payment Institution) license, however, then the ever present problem of getting access to banking becomes and issue.