Establishing a New Swiss FinTech – Preliminary Procedure Completed Within three Weeks

L&P was mandated to establish a new FinTech company. In line with our proven approach, we assumed full responsibility not only for the application to FINMA but also for the planning and implementation of the necessary structures. This is precisely where our strength lies: we possess all the required competencies and capacities in-house to execute such projects efficiently and effectively.

By identifying key regulatory and technical challenges at an early stage, we were able to present the project to FINMA right from the outset. FINMA then decided to address the open issues as part of a preliminary procedure.

The fact that we identified critical regulatory and technical aspects early on led to two key outcomes:
a) the project was introduced to FINMA in its initial phase, and
b) FINMA was persuaded to address the open issues already within the framework of the preliminary procedure.

Remarkably, our preliminary procedure was completed within just 3 weeks.

It is often claimed that core procedural steps in FinTech projects take (too) many months and FINMA’s pace is blamed for such. We do not share this view. In our experience, applications and preliminary procedures can indeed move forward swiftly—provided they are prepared by experienced, interdisciplinary teams capable of identifying and addressing all critical aspects from the outset. Our one-stop-shop approach proves to be—not least as complexity increases—the only truly efficient and effective way to establish a bank or FinTech enterprise successfully.