FinTech (Financial Technology)
FinTech is a collective term for companies that combine financial services with modern technology. The spectrum ranges from payment service providers (PSPs) and neobanks to robo-advisors, insurance startups (InsurTech), and lending platforms (LendTech).
In payment transactions, FinTechs have fundamentally changed the industry: They offer faster onboarding, more transparent pricing, and more flexible APIs than traditional banks. Examples include Stripe, Klarna, Revolut and — in the Swiss market — Payrexx, TWINT, and Neon.
In Switzerland, FinTechs are subject to FINMA supervision depending on their business model. Since 2019, there has been a FinTech licence (Art. 1b Banking Act), which allows the acceptance of public deposits of up to CHF 100 million without requiring a full banking licence.
FinTech examples
TWINT is a Swiss FinTech that enables mobile payment via app — without a credit card, directly from your bank account.
Klarna is a Swedish FinTech that offers Buy Now Pay Later (BNPL) as a payment method in e-commerce.
Neon is a Swiss neobank that offers a free bank account with app-based banking.
FinTech FAQ
What is FinTech?
FinTech (Financial Techology) describes companies that offer financial services using innovative technologies. The spectrum ranges from payment providers and neobanks to lending platforms and insurance startups.
Is FinTech regulated in Switzerland?
Yes, depending on your business model, FinTechs are subject to FINMA supervision. Since 2019, the FinTech licence has been available, which allows public deposits of up to CHF 100 million without a full banking licence.
Which well-known FinTechs are there in Switzerland?
The best-known Swiss FinTechs include TWINT (mobile payment), Neon (neobank), Payrexx (PSP), Yokoy (expense management), Loanboox (credit platform) and Descartes Finance (robo-advisor).
What is the FINMA FinTech licence?
The FinTech licence (Art. 1b Banking Act) allows companies to accept public deposits of up to CHF 100 million without holding a full banking licence. It is considered a simplified path into regulated financial services.
