The glossary

Banking license

A banking license allows a bank to operate in the country. Delivered by independent financial market regulators of a country after a rigorous assessment, it ensures that the bank which has applied for it meets the regulatory and legal requirements when it comes to protecting it’s customers’ money and data.

Anecdote

According to FINMA, 214 banks possess a banking license in 2022 in Switzerland.

Source: https://www.finma.ch/en/~/media/finma/dokumente/bewilligungstraeger/pdf/beh.pdf?la=en