TGS Baltic has advised Bondora AS on the process of obtaining a permit from the Estonian Financial Supervision Authority to establish a branch in Slovenia.
Bondora is a Tallinn-headquartered peer-to-peer lending platform.
According to TGS, "the main challenge was in helping the client react and provide replies and solutions to numerous unforeseen questions and requirements from the Estonian Financial Supervision Authority (including outside the specific scope of the applicable law). This was mainly because the processes and procedures used by Bondora AS are largely automated, and the regulator wanted to ensure that these automated processes and procedures could be applied and used also in Slovenia for providing consumer credit, after introducing the necessary modifications required by Slovenian law."
The TGS Baltic team included Partner Kirsti Pent and Associate Maria Suurna.
