What are the benefits of obtaining a banking license?
- Tenet Consultores
- 14 febrero, 2025
- Case estudies , Consulting firm , Financial ecosystem
The entities with a license to operate as an Institución de Banca Múltiple can offer a wider range of financial products, such as savings accounts, credit cards, personal loans and payroll products
Obtaining a license to operate as an Institución de Banca Múltiple in Mexico offers significant benefits to financial institutions. However, it involves a rigorous process that includes several stages, such as regulatory filings, detailed evaluations, operational reviews, and, finally, approval by the Comisión Nacional Bancaria y de Valores (CNBV) to begin operations as a regulated bank.
The objective of obtaining a banking license is to broaden the operational scope so that the entity involved can become a single provider of all the financial services required by its customers, from loans to savings, payroll, and investment options, and, thus, reach a broader customer base.
An additional benefit is that banks can raise funds from the public through savings accounts, demand deposits, and other financial products. Deposits in banks are protected by the Instituto para la Protección al Ahorro Bancario (IPAB), which guarantees up to 400,000 UDIS.
Benefits
- Institutions may offer a broader range of financial products, such as savings accounts, credit cards, personal loans, and payroll products.
- Obtaining a banking license enables institutions to raise funds from the public and offer loans, which helps them attract more clients and expand their user base.
- Bank-licensed institutions can adopt efficiencies and innovative technologies developed by the fintech sector, allowing them to modernize and improve their services.
- Clients of licensed banking institutions have greater protection of their assets, as these entities are subject to stricter regulations.
Industry competition
Banks (Instituciones de Banca Múltiple) increased from 46 in 2020 to 52 in 2024; however, their growth has been more moderate compared to the other categories. Nevertheless, their dominant position in the market remains firm, reflecting the stability and consolidation of traditional banks in the financial system.
Process
In order to be authorized as an Institución de Banca Múltiple to operate in Mexico, financial institutions need comprehensive financial, technological, operational and regulatory advice.
The process of obtaining a license as an Institución de Banca Múltiple before the Comisión Nacional Bancaria y de Valores requires the support and strategy of a consulting firm with experience in all the procedures and needs to be covered.
- Create a work plan.
- Set a defined path to obtain bank license approval.
- Define financial, legal, operational, and technological requirements.
- Ensure compliance with CNBV requirements.
- Execute the plan and meet procedural deadlines.
- Obtain banking license approval.
Case studies
Tenet Consultores provided comprehensive consulting to Plata for its authorization as an Institución de Banca Múltiple to operate in Mexico. This fintech’s original model combines innovation, technology, and a focus on financial inclusion, simplicity, convenience, trust, and security.
Banco Shinhan de México is a subsidiary of Shinhan Bank Korea. It established a representative office in the country in 2008 and has been supporting high-potential companies nationwide since 2018. In 2015, it obtained authorization from the CNBV to be incorporated as an Institución de Banca Múltiple and thus be able to provide clients with its financial attention.
Mizuho Bank México, S.A. Institución de Banca Múltiple (MBM) is a subsidiary of Mizuho Bank, Ltd, Tokyo, Japan. It obtained its banking license in Mexico according to Article 45-A of the Ley de Instituciones de Crédito in 2016. This bank’s business scope is primarily corporate banking, focused on serving Japanese companies established in Mexico and large corporations established in Mexico.
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Header image by Viktor Forgacs (CC0).