Are there easily available financials for non-Lithuanian EMIs and PIs, e.g., in Switzerland, the UK, Germany, Italy, the Netherlands, Norway, etc. ?

[jafo]

I'm opening a new thread on the advice of a respected member of this community...

@Sols wrote this: Is Finci a mess for everybody or I'm being unlucky?

With emphasis on this part of the comment:

As with all EMIs and PIs in Lithuania, you can check their financials every quarter on https://www.lb.lt/en/pi-performance-indicators
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I then asked this question:
https://www.offshorecorptalk.com/th...erybody-or-im-being-unlucky.44160/post-301660With emphasis on this part:

Do these types of lists exist for other EMIs and PIs, e.g., in Switzerland, the UK, Germany, Italy, the Netherlands, Norway, Sweden, France etc., etc.???
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So, the question is:

Are there lists or databases listing financials for all the EMIs and PIs, e.g., in Switzerland, the UK, Germany, Italy, the Netherlands, Norway, Sweden, France, etc.?

Last edited by a moderator: Apr 21, 2024

 

[Sols]

I have yet to come across anything as detailed or nuanced as Lithuania. Usually all we're left with are broad statistics.

IIRC, the Danish and Latvian FSAs used to issue pretty informative figures. But it seems their mandate to issue such statistics ended years ago and there's nothing recent.

In some countries (UK, Sweden), you can get company P&L figures quite easily online. Others are more complicated.

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This is the probably the answer to your question.

 

[JohnLocke]

It would be useful to have a register of EMIs like they have in Latvia; it surprises me that this hasn't been introduced a long time ago, given that EMIs/Neobanks are no longer a new phenomenon.

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[daniels27]

I think the main problem is that many EMI do not operate a bank themselves but rely in other banks, sometimes through Currency Cloud etc. In other words, they may be completely unregulated themselves.

 

[ilke]

daniels27 said:
I think the main problem is that many EMI do not operate a bank themselves but rely in other banks, sometimes through Currency Cloud etc. In other words, they may be completely unregulated themselves.
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If they are unregulated, they cannot be considered EMIs. They can be FinTech companies that legally operate without a license because they directly issue through another licensed institution, EMD Agents (usually UK), or institution Partners.

Licensed EMIs also often choose to go for solutions like Currency Cloud or Solaris. This allows them to, for example, issue cards when they are not yet authorised by Visa / Mastercard, or to send local payments, or even to actually offer any sort of IBANs / accounts when they are not yet connected to SEPA / SWIFT rails (through correspondents, CENTROlink, central bank).

 

[daniels27]

ilke said:
If they are unregulated, they cannot be considered EMIs. They can be FinTech companies that legally operate without a license because they directly issue through another licensed institution, EMD Agents (usually UK), or institution Partners.
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In Switzerland, there is a list for EMIs and another one for FinTech companies:
https://www.finma.ch/de/~/media/fin...f?la=de&hash=12D09ED740E221CE578EF9F62E12C9D0https://www.finma.ch/de/~/media/fin...f?la=de&hash=64CD18C2205BF06195674DBF9DBF7E45
However, there are many players which are on either list. Neon, Kaspar&, Amnis to name a few. They offer accounts through regulated financial institutions. I do not know how you call them, I won't call them FinTech here as they do not hold such a licence in Switzerland.

 

[Forester]

daniels27 said:
In Switzerland, there is a list for EMIs and another one for FinTech companies:
https://www.finma.ch/de/~/media/fin...f?la=de&hash=12D09ED740E221CE578EF9F62E12C9D0https://www.finma.ch/de/~/media/fin...f?la=de&hash=64CD18C2205BF06195674DBF9DBF7E45
However, there are many players which are on either list. Neon, Kaspar&, Amnis to name a few. They offer accounts through regulated financial institutions. I do not know how you call them, I won't call them FinTech here as they do not hold such a licence in Switzerland.
Click to expand...

Well, if we were talking just about pure list of EMIs & co., not about the list/access to their financials, then it would be much easier: E.g. in the EU there is a general register of licences: EUCLID - Register. (And there are another ways, too; it was discussed here several times.)

(BTW, Amnis is properly licensed in LI, they possess the licence since 2021 ”“ see the register above).

Last edited: Apr 21, 2024
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[jafo]

daniels27 said:
In Switzerland, there is a list for EMIs and another one for FinTech companies:
https://www.finma.ch/de/~/media/fin...f?la=de&hash=12D09ED740E221CE578EF9F62E12C9D0https://www.finma.ch/de/~/media/fin...f?la=de&hash=64CD18C2205BF06195674DBF9DBF7E45
However, there are many players which are on either list. Neon, Kaspar&, Amnis to name a few. They offer accounts through regulated financial institutions. I do not know how you call them, I won't call them FinTech here as they do not hold such a licence in Switzerland.
Click to expand...

Forester said:
Well, if we were talking just about pure list of EMIs & co., not about the list/access to their financials, then it would be much easier: E.g. in the EU there is a general register of licences: EUCLID - Register. (And there are another ways, too; it was discussed here several times.)

(BTW, Amnis is properly licensed in LI, they possess the licence since 2021 ”“ see the register above).
Click to expand...

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[daniels27]

For UK, there is another list just in case
https://www.bankofengland.co.uk/-/m...gulate/2024/list-of-banks/banks-list-2401.pdf

 

[Sols]

Every jurisdiction publishes a list of licensees. I think what @jafo is looking for is rather something more akin to the Performance Indicators that Bank of Lithuania publishes, where you can see how much money each licensee holds, transactions, P&L, et cetera.

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This is the probably the answer to your question.