In Ireland, financial services are regulated to ensure fairness, transparency, consumer protection and market integrity. One key aspect of regulation is Retail Credit Firm authorisation, issued by the Central Bank of Ireland. But what exactly does this mean for Irish customers?
Only recently, Capitalflow has been approved by the Central Bank of Ireland as a Retail Credit Firm, allowing Capitalflow to lend money to individuals and companies.
Regulation changed in Ireland a few years ago meaning firms like us, needed to be authorised by the Central Bank of Ireland to continue lending. Capitalflow was authorised on a transitional basis while our application was being considered and we are now pleased to confirm we have obtained formal approval from the Central Bank earlier this year. This permission allows us to offer credit facilities to new and existing customers including hire purchase agreements (like car finance), and other types of credit to both consumers and SMEs.
Having this authorisation means we’re regulated by the Central Bank of Ireland and subject to obligations including requirements to follow fair practices, offer clear terms, and treat customers properly.
What is a Retail Credit Licence?
Retail Credit Firm authorisation is required for any business that provides consumer loans or credit outside of traditional banks. This includes companies offering personal loans, car finance, “buy now, pay later” services, and other forms of credit to customers.
Why It Matters to Our Customers
- Consumer Protection
Authorised lenders must comply with strict regulations, including transparent lending practices, clear communications, and responsible lending checks. This helps protect consumers from unfair treatment or predatory lending. - Dispute Resolution
Companies with a Retail Credit Firm authorisation are obligated to manage complaints in a timely manner and fall under the remit of the Financial Services and Pensions Ombudsman. If something goes wrong, you have a formal avenue for complaints and redress. - Trust and Transparency
When a lender is authorised, it signals that the Central Bank has vetted the company’s operations, giving you more confidence in who you’re borrowing from. - Better Financial Oversight
Authorised credit providers are monitored, which helps reduce the risk of financial abuse or systemic risks in the broader economy.
Now that Capitalflow is authorised, we can continue to offer our existing product range to customers and seek to expand on this to better meet the needs of our customers. We are regulated by the Central Bank of Ireland which we hope and expect will provide increased trust in the market and this is so important to us and vital to our growth and ability to deliver. We mean this both in relation to the trust of new and prospective customer but also other firms and brokers we engage with. In short a Retail Credit Firm authorisation shows Capitalflow is safe, fair, and legal to borrow from – and it will help Capitalflow to grow the business responsibly.
