The number of FinTech businesses that are founded in Berlin is steadily growing and the discussion on whether Berlin could supersede London as Europe’s #1 FinTech hub is being held for a good reason. Just recently, the German FinTech sphere received an endorsement that highlights its relevance and importance: The Federal Ministry of Finance in Germany (BMF) has founded a FinTech Council in order to monitor and support the developments that FinTech drives in Germany.
The first constituting meeting of the FinTech Council was held on the 22nd of March and chaired by Jens Spahn who is also Parliamentary State Secretary at the Federal Ministry of Finance. At the moment, the Council comprises of 20 members that have gained experiences in the fields of insurance, banking, research and FinTech.
We are proud that two members of the FinLeap family have been chosen to be part of the FinTech Council: Marko Wenthin, CCO and Co-Founder of solarisBank, and Dr. Carolin Gabor, MD of FinLeap and Founder of the initiative Fintech Ladies Europe. The appointment of both illustrates their respective impact in the process of reshaping finance.
The establishment of a FinTech Council by the BMF shows that FinTech is not a short-living trend but instead has come to stay. The council aims at establishing a dialogue between politics, traditional players of the finance industry and emerging FinTech businesses. It will advise the BMF in matters concerning digital financial technology with particular regards to the opportunities, potentials and risks of technological developments in that sector.
According to Jens Spahn, the council will help to establish Germany as Europe’s #1 FinTech hub in the long run. Our MD Dr. Carolin Gabor appreciates the initiative: “Here, at FinLeap, we have a large number of ventures that already successfully comply to the existing regulatory frameworks. With our strong experience and expertise in FinTech, we are looking forward to contribute to this council and thereby help to create an environment that is advantageous for FinTech businesses in Germany. We support the establishment of regulatory frameworks that concern the digitisation of the finance industry.”
We are looking forward to hearing news from the FinTech council soon.
Source: Press release of the Federal Ministry of Finance