News & Insights
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By Michael McCaw
The new ruling that will see the US Office of the Comptroller of the Currency (OCC) begin accepting national charter applications from fintech firms – essentially granting tech-first companies bank-like status – could see agile, progressive entities enter the market.
“The OCC has truly opened a window for all those fintech companies who want to get a banking license without having to become a heavy, ineffective bank – like we see around the market today,” says Igal Rotem, CEO, Credorax.