Greek neobank Snappi lands banking licence from the ECB

Snappi Neobank Granted Universal Banking Licence: Key Points

1. Licence Approval:
   • Snappi, a Greek neobank, received a universal banking licence from the European Central Bank (ECB) following a proposal by the Bank of Greece.
2. Joint Venture:
   • Snappi is a joint venture between Athens-based Piraeus Bank and core banking software vendor Natech.
3. Initial Announcement:
   • The venture was first announced in 2022 with the aim to serve both consumers and financial institutions across Greece and Europe through a digital platform.
4. Expanded Services:
   • With the new licence, Snappi can now offer a wide range of banking services, including loans and deposit acceptance.
5. Strategic Importance:
   • Christos Megalou, chairman of Snappi’s board and CEO of Piraeus Bank, highlights the significance of obtaining a Eurozone-passportable banking licence, marking a new era for the neobank.
6. Focus Areas:
   • Snappi will focus on enhancing its banking operations and integration points to deliver an improved digital customer experience before its full public launch.