15 Nov Fintech associations from all over Europe come together in Brussels to develop and promote the ecosystem
Associations from twelve countries lay the foundations for developing joint initiatives, sharing the experience of each country and creating synergies that will allow to improve the Fintech ecosystem throughout the continent.
Madrid, October 29 2019. Twelve Fintech associations from all over Europe (including Spain, Italy, Portugal, Holland, Sweden, Poland, Finland, Hungary, Czech Republic, Slovakia, Luxembourg and Bulgaria), have participated in an encounter in Brussels with the presence of the European Commission and the EBF (European Banking Federation), in order to promote the Fintech ecosystem in Europe and lay the foundations for developing an alliance of the entire ecosystem and further develop the culture of innovation on the continent.
The meeting held in Brussels served to develop new initiatives, share the experience in the development of this environment in each country and create synergies to improve all procedures and company services in the ecosystem.
Sebastien de Brouwer, Chief Policy Officer of the EBF, explained that “in order to achieve the objectives in mind, innovation must be encouraged as well as having a favorable regulatory environment that fosters the European Fintech ecosystem”.
All of the European associations have been in contact for several years trying to reach different agreements and share the best practices to encourage and promote dynamics created by the ecosystem, as well as strengthen communications between the different associations in the continent and the European Commission, to reach in particular, agreements in the field of good practices and regulation. For the development of this alliance between international associations, several important issues were discussed such as the development of the PSD2 regulation, the creation of a regulatory Sandbox or the promotion of cryptocurrencies and crowdfunding, among others.
Next steps for the European Fintech alliance
Following the meeting in Brussels, the European associations will call on the other entities in the continent to initiate a recurrent and more fluid dialogue process with the European Commission in Brussels, which facilitates the connection and understanding between European Fintech companies and will also seek to promote and support community regulatory initiatives, by identifying common problems and issues. The next meeting is scheduled for January 2020 where the European alliance will be signed.