Licensing for Fintech

Starting a financial services business can be daunting, especially when navigating regulatory requirements. At the FMA, we understand that start-ups and new businesses often operate with limited resources. That’s why our licensing approach is designed to be both robust and flexible, helping you meet minimum standards without unnecessary complexity.

Licensing approach

Our licensing process is built around a risk-based model. This means we tailor our scrutiny to the nature, scale, and complexity of your business. If your operations are low risk, you can expect a streamlined experience with fewer regulatory hurdles. This helps reduce compliance costs while maintaining investor protection and market integrity.

All licence applications are assessed against the same minimum standards, but how you meet those standards can vary depending on your business’s size and risk profile.

We have published guidance and examples to help you prepare your licence application, you can find the guide here:

Licensing Application Guide - Financial Services PART A [721KB]

Start-ups can explore restricted licensing options by requesting a limited scope to the licensed service. If you intend to restrict your service offering, that will reduce the scope of our assessment. These pathways allow firms to test innovative models while working with the FMA to meet regulatory expectations. The scope of any market services licence application (whether broad or narrow) is at the discretion of the applicant. Please note that a narrower scope may be reflected in the conditions of your licence.  

Supportive tools and resources for fintech licensing

FMA are currently in the process of moving away from paper-based forms and manual assessments. For those licence applications that are online You will only see the questions that are relevant for your business type. It includes built-in guidance and flags potential risks automatically.This is to support you to focus on what matters most and reduces the need for professional advisers. We also have information on our website about different compliance obligations you may have (including information on licensing, fees, exemptions, etc.):

Services | Financial Markets Authority

We also offer:

• licensing guides, written in plain language;
• one-on-one pre-application meetings;
• tailored engagement with our team to answer questions and guide you through the licensing process;

If you're a start-up or new business considering a licence, we encourage you to explore our licensing guides and reach out to our licensing team with questions – we are here to help!

Ask a Question - Financial Markets Authority

or email [email protected]

Regulatory exemptions for fintech innovations

We recognise that fintech or other firms offering innovative products and services may encounter challenges in complying with the Financial Market Conduct Act 2013 (FMC Act) and other legislation. In certain circumstances, it may be appropriate for the FMA to provide exemptions from compliance with provisions of the FMC Act or regulations made under that Act. Our Exemptions website provides more information on the process to apply for an exemption and associated fees, as well as requirements for the FMA to grant an exemption.