Greek neobank Snappi lands banking licence from the ECB
Greek neobank Snappi has been granted a universal banking licence from the European Central Bank (ECB) following a proposal made by the Bank of Greece.
Snappi granted universal banking licence from the ECB
Snappi is a joint venture between Athens-based Piraeus Bank and core banking software vendor Natech.
First announced back in 2022, Thanasis Navrozoglou, president and CEO of Natech, said at the time that Snappi would seek to “address both consumers and financial institutions, in Greece and Europe, throughout a pure digital experience”.
With the new licence, the neobank is now authorised to provide a wide array of banking services, including offering loans and accepting deposits.
Christos Megalou, chairman of Snappi’s board and CEO of Piraeus Bank, states that obtaining a “Eurozone-passportable banking licence” is a “significant step in the bank’s development and marks a new era in Snappi’s journey to become part of the new banking landscape in Europe”.
While dates for its full public launch are so far unknown, Snappi says it will focus in the meantime “on enhancing the setup of its banking operations and integration points to deliver a fresh customer digital experience”.
