# IOBSP

> Intermédiaire en Opérations de Banque et en Services de Paiement (banking and payment services intermediary)

A French status that governs the brokerage of credit and banking services. Registration with the ORIAS, in 4 categories depending on whether you act as a bank's agent, a client's agent, a broker or a MIOBSP.

_Category: acteur_

---

## 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.

```mermaid
flowchart TB
    CLIENT["Borrowing client"]

    subgraph IOBSP_TYPES["IOBSP categories"]
        COURTIER["Broker (cat. 1)<br/>Mandated by the client"]
        MANDAT_EX["Exclusive agent (cat. 2)<br/>1 single credit institution"]
        MANDAT_NEX["Non-exclusive agent (cat. 3)<br/>Several credit institutions"]
        MIOBSP["MIOBSP (cat. 4)<br/>Sub-agent"]
    end

    subgraph EC_LIST["Credit institutions"]
        EC1["Partner institution A"]
        EC2["Partner institution B"]
        EC3["Partner institution C"]
    end

    ORIAS["ORIAS<br/>(mandatory registration)"]
    ACPR["ACPR<br/>(supervision)"]

    CLIENT --> COURTIER
    COURTIER --> EC1
    COURTIER --> EC2
    COURTIER --> EC3
    IOBSP_TYPES -.->|"Registration"| ORIAS
    IOBSP_TYPES -.->|"Supervision"| ACPR
```

## 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.

## Sources

- [Intermédiaires en opérations de banque et services de paiement](https://acpr.banque-france.fr/fr/professionnels/lacpr-vous-accompagne/intermediaires/intermediaires-en-operations-de-banque-et-services-de-paiement) — ACPR
- [La réforme du courtage](https://www.tresor.economie.gouv.fr/Articles/2021/12/21/la-reforme-du-courtage) — Direction générale du Trésor, 2021-12-21
- [Associations de courtiers — liste des associations agréées](https://acpr.banque-france.fr/autoriser/associations-de-courtiers) — ACPR

---

Source: https://openfinanceguide.com/en/glossary/iobsp