De Nederlandsche Bank published a speech by Gita Salden setting out how DNB approaches the regulation and supervision of FinTechs, positioning authorisation as a gateway to trust for customers, investors and partners while aiming to support innovation. The speech distinguished DNB’s prudential supervision from the Netherlands Authority for the Financial Markets’ conduct supervision, noting that lead responsibility typically depends on whether a firm mainly provides payments, savings and lending services or investment services and advice. It acknowledged feedback from the 2023 FinTech Census that supervision can feel strict, risk-averse and sometimes rigid, with licensing perceived as slow and unpredictable, and argued that requirements are intended to be proportionate and risk-based, including exemptions and sandbox-like approaches for early-stage innovators. Illustrating why trust safeguards matter, it cited Binance’s exit from the Dutch market after being confronted on anti-money laundering non-compliance and an alleged investment fraud flagged by the Financial Intelligence Unit and referred to law enforcement with the AFM notified, and pointed firms to the joint DNB, AFM and Authority for Consumers and Markets Innovation Hub to discuss how regulation applies to new business models.
De Nederlandsche Bank 2025-06-12
De Nederlandsche Bank outlines risk-based FinTech licensing and supervision approach and highlights the joint Innovation Hub
De Nederlandsche Bank (DNB) published a speech by Gita Salden on regulating and supervising FinTechs, emphasizing authorisation as a gateway to trust. It differentiated DNB’s prudential supervision from the Netherlands Authority for the Financial Markets’ conduct supervision, highlighting feedback from the 2023 FinTech Census on perceived strictness. It also referenced Binance’s exit from the Dutch market due to anti-money laundering non-compliance and encouraged firms to engage with the joint DNB, AFM, and Authority for Consumers and Markets Innovation Hub.