Definition
An IOBSP (Intermédiaire en Opérations de Banque et en Services de Paiement) presents, offers or helps conclude banking operations (credit, deposits) or payment services, without itself being a credit institution or a PSP.
It is the French status of the credit broker and, more broadly, of the distributor of banking products. Registration with the ORIAS is mandatory; oversight is shared between the ACPR (ethics, competences) and the DGCCRF (commercial practices).
The 4 categories
The decree of 26 June 2012 distinguishes four categories, in principle non-cumulative:
- Broker (cat. 1) — independent, mandated by the client, putting several banks into competition (Pretto, Meilleurtaux, Empruntis).
- Exclusive agent (cat. 2) — mandated by a single institution, whose products it distributes.
- Non-exclusive agent (cat. 3) — mandated by several banks, which it represents (not the client).
- MIOBSP (cat. 4) — a sub-agent of an IOBSP in the three preceding categories (the local agent of a national broker).
ORIAS registration and professional competence
To be an IOBSP, you must:
- register with the ORIAS (a paid annual renewal);
- prove professional competence (level I: a 3-year finance degree or 2 years' experience; II: a 2-year degree or 1 year; III: 150 hours of training), depending on the category;
- take out professional liability insurance;
- hold a financial guarantee (≥ €115K) if collecting funds (rare);
- demonstrate good standing (a compatible criminal record).
IOBSP vs PSP agent vs CIF
| IOBSP | PSP agent | CIF | |
|---|---|---|---|
| Distributes | Credit, deposits, payments | Payment services | Investment advice |
| On behalf of | A credit institution or PSP | A PI / EMI | The client (advice) |
| Register | ORIAS | ACPR (agents register) | ORIAS + association |
| Professional competence | Level I, II or III | Good standing + training | AMF + approved association |
A single player can combine all three (Pretto is an IOBSP, sometimes a CIF), in separate compartments.
What an IOBSP cannot do
- Grant credit on its own account: it presents an offer; the decision rests with the credit institution.
- Take deposits: a temporary collection of funds requires the financial guarantee.
- Perform AIS / PIS: reserved for authorized PSPs; an IOBSP must go through a partner AISP.
- Provide investment advice: this requires the CIF status.
The IOBSP and fintech
The status is widely used by credit, real-estate and debt-consolidation fintechs:
- Pretto, Meilleurtaux and Empruntis are mortgage brokers (cat. 1).
- Younited became a credit institution (formerly Prêt d'Union) and carries the risk on its own account.
- Algoan and Bridge are not IOBSPs: they provide scoring or data, without presenting credit.
In the PSD2 ecosystem
The IOBSP is not a PSD2 status (the directive does not deal with credit), but many IOBSPs leverage AIS data, through a partner AISP, to do alternative credit scoring or cash-flow underwriting — which brings the two worlds together.
Concrete examples
- Mortgage brokerage: Pretto, Meilleurtaux, Empruntis, Cafpi, Vousfinancer — all cat. 1, mandated by the client, paid on commission by the bank (often ~1% of the principal).
- Consumer credit / debt consolidation brokerage: Younited (now a credit institution), Solutis, Crédigo.
- Non-exclusive agent: a local agent offering Cetelem + Sofinco + Cofidis.
- Loi Lagarde: since 2010, a FISE must be provided for any mortgage, with a 10-day cooling-off period.
- Remuneration: for mortgages, the commission is paid by the bank (passed on through the APR), not by the client.
- Brokerage reform (2021, in force 2022): mandatory membership of an ACPR-approved association, which oversees ethics, continuing training and complaints.
- Digitalization: digital brokers (Pretto, Helloprêt) collect payslips and statements via an AISP, cutting file preparation from 2 weeks to 24h.