How Fintech Companies Can Become Banks: The Regulatory Pathway In recent years, fintech companies have been making a significant impact in the financial industry by applying for banking licenses.
But what does it take for a fintech company to become a bank? To answer this question, we need to delve into the complex regulatory landscape that governs banking licensure.
The Regulatory Framework: Meeting Capital Requirements and Risk Management Standards To become a bank, a fintech company must meet the requirements set forth by banking regulators, such as the Office of the Comptroller of Currency (OCC) in the United States.