Fintech innovation needs safe navigation, DNB emphasizes
Steven Maijoor of De Nederlandsche Bank addressed a Money20/20 pre-event on June 1, 2026. He emphasized the shared responsibility for safe fintech innovation and effective supervision.
DNB as the harbour pilot for fintech
De Nederlandsche Bank views itself as a 'harbour pilot' for fintech innovation, offering supervisory guidance to firms entering the Dutch market responsibly.
"We welcome innovation – but it must be able to operate responsibly within the financial system," Maijoor stated.
The licensing process is designed to be smoother and faster for well-prepared applications, reflecting a shared effort between DNB and applicants.
Significant improvements have been made, reducing processing times by nearly half for complete applications.
DNB now limits feedback rounds to a maximum of three, intervening earlier by pausing or discontinuing processes if essential information is missing.
This approach aims to maintain shorter time-to-market without compromising supervisory quality, ensuring clarity and focus while avoiding prolonged uncertainty.
The pace of the process ultimately depends on the quality of applications submitted by fintech firms.
Navigating innovation and inherent risks
Maijoor's sailing metaphor highlighted the need for preparation and experience in new financial waters, positioning DNB as an experienced skipper.
He stressed that innovation is welcome but must operate responsibly within the financial system.
New risks are inherent, as demonstrated by the Wirecard scandal and crypto incidents, necessitating proper safeguards to protect consumers and public trust.
Proportionate supervision tailors requirements to risk and scale, ensuring a level playing field without lowering baseline standards.
The sector's high entry and exit dynamics demand orderly market exits to facilitate innovation while upholding clear supervisory standards.
Beyond the metaphor: A clear path
The speech clearly articulates DNB's pragmatic approach to fintech, balancing innovation with robust safeguards.
It signals a commitment to streamlining processes while maintaining high supervisory standards, offering clarity for market entrants.
This proactive stance is crucial for fostering trust and ensuring the long-term stability of a rapidly evolving financial sector.
Source: Fintech, supervision and smooth sailing
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