Central Bank: Fintechs don’t understand ‘standards’ required by Irish regulators

New fintechs often fail to understand the standards required to operate as a regulated firm in Ireland, a senior Central Bank official has said, in a robust defence of the watchdog’s record on granting licences to innovative financial companies.

Derville Rowland told the Business Post that a new regulatory “sandbox” announced by the Central Bank last week will allow companies to work in “clusters” to better understand how to gain financial authorisation.

She said early-stage ...