Yapeal, a digital banking startup, is now the first company to be granted a fintech banking license by Swiss authorities.

Switzerland introduced fintech licenses last year in a bid to boost innovation in this section, enabling small players to enter the market, albeit with the limitation of a CHF100 million cap on deposits and a ban on investing and paying interest on funds.

Yapeal is the first firm to get a license from the Financial Market Supervisory Authority, covering the way for it to launch its service, promising to ”redefine the way people handle their money”.


The Zurich-based firm will offer the usual array of budgeting and money management tools as well as a Visa debit card, services tailored for children and a simple flat fee.

Yapeal is also stressing that it will be community driven, inviting its ”Yapsters” to interact and exchange insight as well as help guide product development.

While the fintech licence is seen as a step towards a full banking licence in Switzerland, it’s not known when or if Yapeal is aiming for the full deal just yet.