Fellow Funders is now part of these more than 100 companies which belong to MAD FINTECH. The 19th of February was a historical day for the redefinition of banking and finance due to InnoDay FinTech 2020. This event managed to bring together half a thousand professionals and a hundred companies that became founding partners of the MAD FinTech cluster. This consists of an association that will bring together, under the support and encouragement of the Madrid City Council and ECOFIN Forum, companies from various sectors that will co-create the future of Financial Services. The MAD FinTech main goal is to reinvent the banking and insurance industry with the new technologies, and Francisco Mariscal, the Fellow Funders CEO, assisted the ceremony and decided to be part of these more than 100 companies who share the same aim.
The Madrid Capital Fintech event, cluster of the sector promoted by the Madrid City Council, had the presence of some public figures like Begoña Villacís (Deputy Mayor of Madrid) and Miguel Ángel Redondo (Councilor for Economy, Innovation and Employment), who was also at Onda Madrid (Spanish radio) last Thursday. The event took place in Cibeles Palace (Madrid)and it was composed by companies such as banks, and the best insurance companies and consultants. They signed with a clear international orientation their adhesion to an association that will try to accelerate and strengthen the fintech ecosystem in Madrid. Moreover, they seek new collaboration models between the finance and the technological industry through an open innovation, training and the “networking”.
Madrid Capital Fintech was born to reinvent the financial services the upcoming decade and to make the Spanish capital a pole of attraction for fintech and innovative companies in the financial sector. In this project, it is implied a change in every financial field, from means of payment (the main gateway to new players) to savings and investment products. It will also be a laboratory of ideas for the development of the most innovative financial services. The main national and community legislators and sectorial employers such as the Spanish Banking Association, CECA banks and the Spanish Association for Fintech and Insurtech will manage their requests.
The cluster will lobby to facilitate the creation of an enabling fintech ecosystem and removing the regulatory barriers that such companies often encounter in opening their businesses. Finally, Madrid Capital Fintech will prepare a kind of White Paper within a month, in order to express the main demands of the fintech companies and to accelerate their implementation in the financial sector.
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