Banking licences in Switzerland are among the most coveted and most difficult to obtain in Europe — the Swiss Financial Market Supervisory Authority sets high standards and moves at a pace that reflects the country's preference for getting things right over getting them fast. Yapeal was founded in Zurich in 2018 with the ambition to build a fully licensed Swiss neobank from scratch, applying for and receiving a Fintech licence under Switzerland's bespoke regulatory category for digital financial services companies. That licence — the first of its kind granted in Switzerland — allowed Yapeal to hold customer deposits up to CHF 100,000 without requiring a full banking licence, creating a new category of regulated financial institution in one of the world's most conservative banking markets. Yapeal's product offers a digital account, Mastercard, and financial management tools aimed at Swiss consumers who want the experience of a modern neobank without sacrificing the regulatory protection of a Swiss-regulated institution. The company's regulatory achievement is arguably as significant as its product — demonstrating that Switzerland's financial regulator is willing to create space for digital-first financial institutions rather than simply protecting the incumbents.