Authorised Electronic Money Institutions in the European Economic Area

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Which are the Top 5 European Union member states for electronic money institution (#EMI) authorisations? Read on, you may be surprised.

[If you are looking to get authorised as a fintech in the European Economic Area visit our authorisation page ] 

There are, as of today's records published by the European Banking Authority, 268 EMIs authorised in the European Economic Area.


Following the United Kingdom's exit from the European Union, the crown for the home of the largest number of authorised EMIs lands on the head of Lithuania (16.2%), followed in the distance by Malta (5.3%), then both Ireland and France (tied at 3.4% each) and rounding out the Top 5 is Cyprus (3%). It is remarkable, and admirable, that Lithuania has attracted such a large number of these fintech.


No wonder CompliReg supports:

* https://FintechLithuania.com,
* https://FintechMalta.com,
* https://FintechIreland.com,
* https://FintechCyprus.com,

and soon a new Fintech France website!

Had the UK not left the European Union, it would be the undisputed king of emoney firms having 2.8 times more authorised EMIs than Lithuania and a mere 4% fewer than the total number of all EEA authorised EMIs. No surprise either that CompliReg supports https://FintechUK.com.


In the coming days we will release more #funfintechfacts about the EEA and UK. Having crunched a pile of numbers, I expect that in the not too distant future the number of EMIs, authorised payments institutions and AISPs will equate to approximately half the number of authorised credit institutions in the EEA. But presently these fintech companies have a long way to go to outnumber the banks - being only 35% of the total number of authorised EEA credit institutions.


Let us know if this information is interesting and your thoughts. Are you surprised by split? What you may be surprised by is that when it comes to authorised #paymentservices firms, the EMI leader board is not necessarily replicated!


And of course, if you need assistance with your fintech authorisation, please get in contact (that's the advertisement piece!).

This post appears on LinkedIN - https://www.linkedin.com/posts/peteroakes_electronicmoney-emi-fintech-activity-6874439675864502272-5SiL