US OCC fintech charter to change banking landscape

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.

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