

By deciding on November 30, 2018, the Federal Council has opened the door to digital and innovative solutions for the Swiss financial center by promoting FinTech companies, a further step into the future.
What happened?
The "Sandbox" launched by the Federal Council last year was intended to enable innovative fintech companies to carry out additional activities - even without a bank permit. This has brought crowdlending facilitations to us in terms of hold on settlement accounts as well as in the corporate lending business. Unfortunately, on the consumer credit side, the regulatory change was not fully implemented. Only the publication published on November 30 for the consultation on the amendment of the Banking Ordinance (BankV) / FinTech approval (details see here) represents a real innovation for the players in the consumer loan peer-to-peer crowdlending market. The fall of the so-called 20-year rule in the consumer credit sector takes into account the crowds in its pure form. As of 1 April 2019, loans to individuals of more than 20 persons or investors may now also be financed. This change will be accompanied by an assumption of the crowdlending business under the consumer credit law (KKG). This requires that all Crowdlending providers comply with the KKG rules and therefore must also join the ZEK (Central Office for Credit Information).
Who benefits?
First and foremost, investors and investors benefit. This regulation now also allows investors with smaller budgets to benefit from an optimal diversification of their investments. Furthermore, this of course also strengthens the competitiveness of the crowdlending providers, as financing can now be diversified by more investors, especially in the case of larger loan projects, thus improving financing options.
We are ready!
As an innovative and visionary company, we have dedicated our business model since the beginning to the high quality standards of a voluntary KKG submission and this year also joined the ZEK (Central Office for Credit Information) as a member. We very much welcome these changes as they contribute to further professionalizing the crowdlending market as a whole. We were and will continue to be a reliable, risk-conscious and agile partner for our customers. Visit our website, you can expect interesting investment opportunities and a simple and lean onboarding.