These firms in particular see the benefit in having a dedicated point of contact at the Central Bank. We have found so far that most firms place great value in coming in to the Bank to demonstrate their product/service, both to increase awareness among supervisors and to get a better sense of our approach to authorisation and supervision.
Firms also often contact us with questions on the authorisations process and regulatory framework, though smaller start-ups are more interested in the regulatory perimeter and what activities require authorisation. This is important as the earlier these firms are sighted on the potential regulatory considerations of their solutions, the more likely they are to grasp the responsibility compliance with regulation entails.