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Finland: fintech & payments regulation

Regulated

Finland fintech: FIN-FSA oversight under EU directives; P2P registration and CCP updates

Lead regulator:
Finnish Financial Supervisory Authority (FIN-FSA)
Key law:
Act on Payment Institutions and Electronic Money Institutions (2010/1116) and related EU regulations
Last updated:
2026-07-12

The Finnish Financial Supervisory Authority (FIN-FSA) serves as the primary supervisor for fintech and payment activities, enforcing EU-derived frameworks including the Payment Services Directive and Electronic Money Directive. Entities providing payment services generally require authorization as payment institutions or electronic money institutions, with specific compliance obligations outlined in FIN-FSA guidelines.

Recent regulatory developments include the 2023 mandate for the registration of certain credit grantors and peer-to-peer (P2P) loan intermediaries, expanding supervisory reach into alternative lending markets. Additionally, updated guidelines in 2026 address substantial changes to licensing requirements for central counterparties, while 2025 rules govern notifications for acquiring control over non-EEA entities.

The regulatory environment is characterized by strict adherence to EU financial standards, with FIN-FSA actively issuing guidelines to clarify compliance for payment institutions, credit grantors, and investment firms. The jurisdiction maintains a structured licensing regime for traditional fintech services while integrating newer activities like P2P lending into its supervisory framework.

Who regulates

  • Finnish Financial Supervisory Authority (FIN-FSA)

    Primary supervisor for payment institutions, credit institutions, investment firms, insurance companies, and P2P loan intermediaries.

    [1][2][3][4]

Core laws & rules

  • Regulations and Guidelines 8/2016 (2016)

    Establishes the operational framework and compliance requirements for payment institutions and persons providing payment services without a license, effective from January 1, 2017.

    [4]

  • Regulations and Guidelines 3/2023 (2023)

    Mandates the registration of specific credit grantors and peer-to-peer loan intermediaries, establishing compliance requirements for these entities.

    [3]

  • Regulation and Guidelines 2/2025 (2025)

    Establishes notification requirements for credit institutions, investment firms, and insurance groups acquiring control over entities located outside the European Economic Area.

    [2]

  • Regulation and Guidelines 1/2026 (2026)

    Mandates the notification of substantial changes to the licensing requirements for central counterparties of credit institutions and deposit banks.

    [1]

Licensing & registration

  • Payment Institutions

    Authorization required for entities providing payment services, with operational frameworks defined by FIN-FSA guidelines. Timeline: Effective from January 1, 2017 under Guidelines 8/2016

    [4]

  • P2P Loan Intermediaries and Credit Grantors

    Registration required for specific credit grantors and peer-to-peer loan intermediaries. Timeline: Effective July 1, 2023

    [3]

  • Central Counterparties

    Licensing requirements subject to notification of substantial changes. Timeline: Guidelines effective April 13, 2026

    [1]

Restrictions & warnings

  • Entities providing payment services without a license are subject to regulatory oversight and compliance requirements as defined in FIN-FSA guidelines.

    [4]

  • Acquisition of control over non-EEA entities by regulated Finnish firms requires prior notification to the FIN-FSA.

    [2]

Direction of travel

  • FIN-FSA continues to update guidelines to address evolving fintech activities, including P2P lending and cross-border acquisitions, ensuring alignment with EU regulatory standards.

    [3][2]

Sources

  1. Notification of Substantial Changes to the Requirements for the Licences of Central Counterparties of Credit Institutions and Deposit Banks · 2026-01-01
  2. Acquisition of Control over a Company Located in a Country Outside the European Economic Area · 2025-01-01
  3. Registration of Certain Credit Grantors and Peer-to-Peer Loan Intermediaries · 2023-01-01
  4. Regulations and Guidelines 8/2016: Payment Institutions and Persons Providing Payment Services Without a License · 2016-01-01

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This guide is compiled automatically from 4 primary-source documents published by Finland's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.