There is no single Swiss law called “the P2P lending law.” Instead, a platform’s activities are covered by whichever existing rules apply to what it actually does: banking law if it takes deposits or acts like a bank, the Consumer Credit Act (KKG) if it originates consumer loans, and anti-money-laundering obligations (AMLA/GwG) in most cases regardless of structure. FINMA supervises the regulated pieces of this picture, not the P2P lending sector as a whole.
This matters because “regulated in Switzerland” is often read by investors as “safe.” It is not the same claim. This page sets out who regulates what, what that oversight does and does not promise you, and the practical verification steps that follow from it.
Who regulates what
FINMA (the Swiss Financial Market Supervisory Authority) authorises and supervises banks, securities firms, and certain other financial intermediaries. A platform that merely arranges loans between investors and borrowers, without taking deposits itself or holding client money on its own balance sheet, may not need a banking licence at all. Whether a specific platform needs one depends on the precise legal structure of the loans and how money moves through the platform.
Consumer lending has a separate layer: the Consumer Credit Act (KKG) sets rules around affordability checks, disclosure, and contract terms for loans to private individuals. This applies regardless of whether the loan originates from a bank or is arranged through a crowdlending platform, if the borrower is a private individual and the loan falls within the act’s scope.
Separately again, anti-money-laundering obligations under AMLA/GwG generally apply to financial intermediaries handling client funds, requiring identity verification and transaction monitoring. A platform can be fully compliant with AMLA obligations and still carry no FINMA authorisation for the lending activity itself. These are different regulatory questions, and a platform can answer “yes” to one and “no” to another.
Sources & status
Based on public guidance from FINMA (finma.ch) on licensing categories and supervised institutions. This is a general summary, not legal advice, and does not describe any specific platform. Last checked: 14 July 2026.
What “regulated” does and does not mean for an investor
A FINMA licence, where one applies, means the licensed entity meets ongoing capital, organisational, and conduct requirements for the activity it is licensed for. It does not mean the loans it arranges are low-risk, that your invested capital is guaranteed, or that FINMA has reviewed or endorsed any specific lending product. FINMA supervises institutions and activities; it does not vouch for investment outcomes.
It is also worth being explicit about what regulation is silent on. AMLA compliance tells you a platform checks who its clients are. It says nothing about loan underwriting quality, borrower diversification, or what happens to your money if the platform itself becomes insolvent. Those questions require you to read the platform’s own terms and custody arrangements, which is exactly what our verification checklist is built to walk through.
Switzerland is not in the EU: why ECSP does not apply
The European Union’s Crowdfunding Service Providers Regulation (ECSP) creates a harmonised licensing regime for crowdfunding platforms across EU member states. Switzerland is not an EU member and has not adopted ECSP. A Swiss platform cannot rely on an ECSP passport to operate, and an EU-licensed platform’s ECSP status says nothing about its standing, if any, under Swiss law. If a platform references EU crowdfunding rules while marketing to Swiss investors, treat that as a prompt to ask directly what Swiss authorisation, if any, actually applies to it.
Verification steps
Given how fragmented Swiss oversight of this sector is, verification has to be done deal by deal, not taken on trust from a platform’s homepage.
- Ask the platform directly which entity in the transaction, if any, holds a FINMA licence, and check that claim against FINMA’s public registers.
- Confirm whether consumer loans on the platform fall under the Consumer Credit Act and what that means for borrower affordability checks.
- Ask how client money is held between the time you deposit it and the time it is lent out, and whether it is segregated from the platform’s own funds.
- Read the actual loan agreement, not the marketing summary, to see what happens to your claim if the platform becomes insolvent.
For the fuller version of the FINMA-specific detail, see FINMA and P2P lending. For a complete, itemised verification process, use the platform verification checklist. Our methodology page explains how we approach claims like these across the whole site.
Sources & status
EU ECSP scope described from publicly available EU regulatory summaries; Swiss statutory references drawn from the Federal Chancellery’s legislation portal (fedlex.admin.ch). We do not cite specific article numbers here; consult fedlex.admin.ch directly for current statutory text. Last checked: 14 July 2026.
Educational content, not financial advice. Lending investments can lose all invested capital and are not bank deposits. Verify every platform claim yourself before investing.
Frequently asked questions
Does every Swiss P2P lending platform need a FINMA licence?
No. Whether a licence is required depends on the specific activity, especially whether the platform takes deposits or holds client money on its own balance sheet. Some structures avoid triggering banking licence requirements entirely.
Can an EU-licensed platform operate freely in Switzerland?
An EU ECSP licence has no automatic standing under Swiss law, since Switzerland is not part of the EU and has not adopted the ECSP regime. Any Swiss activity still needs to be assessed under Swiss rules separately.
If a platform is AMLA-compliant, is it safe to invest through?
AMLA compliance addresses identity checks and money-laundering controls, not investment risk. It says nothing about loan quality, diversification, or what happens to your money if the platform fails.