Swiss Banking Regulations become more FinTech-Friendly

On August 1, 2017 the first part of Switzerland’s new FinTech rules will enter into force. The following provides an overview of the changes.

The Swiss government (the Federal Council) adopted an amendment to the Ordinance on Banks and Savings Banks (“BankO”), resulting in exemptions from banking license requirements, from which FinTech companies (and others) may benefit.