Banking license

A banking license is the supervisory authorisation needed to carry on banking business in Switzerland. It is generally required for institutions that accept deposits from the public on a professional basis or otherwise operate as banks. Applicants must meet organisational, governance, capital, risk management, audit, fit-and-proper and business-conduct requirements. FINMA grants and supervises licences, and may impose conditions or take enforcement action. Operating without the necessary authorisation can lead to severe supervisory and criminal consequences. Special regimes may apply to fintech or securities firm activities.