1. Defining Your Business Model to Set Up a Fintech in France
The first and most crucial step is to precisely define your business model. The regulatory path you take will be determined by the type of financial services your fintech will provide:
- Banking Services: Services that involve deposit-taking or lending.
- Payment Services: Such as payment initiation (PIS) or account information (AIS).
- Investment Services: Including asset management or financial advisory.
- Crypto-Asset Services: Any activities related to digital assets.
- Other Financial Activities: Any service falling under the Financial and Monetary Code.
Based on this definition, you will interact with the two key French financial authorities: the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF).
2. Navigating the Licensing and Authorization Process
To officially set up a fintech in France, you must obtain the appropriate license or authorization from the ACPR and/or AMF if your service is a regulated financial activity.
- Payment Services: You must comply with the Payment Services Directive 3 (PSD3) and the new Payment Services Regulation, which came into force in 2025. These include stringent rules on security, transparency, and consumer protection.
- Crypto-Assets: For crypto-asset services, strict compliance with the Markets in Crypto-Assets Regulation (MiCAR) is a mandatory requirement.
- AML Program: The authorization process will require you to demonstrate a robust Anti-Money Laundering (AML) compliance program, which must be validated by the ACPR.
3. Building a Strong Compliance Infrastructure
Once licensed, a robust compliance infrastructure is essential for the long-term success of your fintech in France. You must implement comprehensive programs to meet France’s stringent legal framework, including:
Data Protection: Adherence to the EU’s General Data Protection Regulation (GDPR).
Cybersecurity: Compliance with the Digital Operational Resilience Act (DORA) to enhance IT security.
Consumer Protection: Implementing measures to safeguard consumer rights and interests.
Regular reporting and proactive cooperation with regulators are expected as part of ongoing compliance.
4. Engaging Proactively with French Regulators
French regulators are known for their proactive support for innovation. They maintain an open dialogue with fintechs to help them navigate regulatory challenges. This support is exemplified by initiatives like the ACPR’s Fintech Forum and the “Fintech Charter,” which aim to facilitate compliance and the licensing process. Proactive engagement with these bodies is a key strategy when you set up a fintech in France.
5. Implementing Strong Corporate Governance and Risk Management
To ensure your fintech is viable, you must incorporate governance practices aligned with regulatory expectations. This includes establishing:
Effective internal controls.
Comprehensive risk management frameworks.
Transparent customer fee disclosure policies.
Your Path to Setting Up a Fintech in France
Successfully setting up a fintech in France requires a clear strategy: obtain the necessary financial licenses from the ACPR and AMF, implement comprehensive compliance and risk management frameworks in line with French and EU law, and engage proactively with regulators. This robust, yet supportive, regulatory landscape is designed to protect consumers while fostering innovation.
Ready to start your journey?