A Survey of the Different Licensing and Chartering Options for FinTechs: Finding the Best Fit for Your Company

May 1, 2018 8:50am

What is it about?

  • Closely examining the different licensing/chartering options for FinTech companies:
    • OCC Fintech Charter / license as a Special Purpose Bank
    • Partnering with a retail bank
    • Licensed Money Transmitter
    • State Trust Company Charter
    • Industrial Loan Company Charter
  • Assessing the regulatory implications, compliance challenges and costs, and operational considerations surrounding each of these options
  • What should banks and Fintechs consider before they partner?
    • Assessing the positives and negatives of choosing the bank partnership model?
  • Addressing the recent applications by Sofi and Square for Industrial Loan Company Charters
    • If approved, what will the implications be?
  • Examining the latest developments and trends in fintech chartering/licensing decisions and what they means for the industry going forward