Italy Launches New Trade Association ItaliaFintech

 

Italy is joining a growing roster of countries that have established Fintech associations designed to guide emerging innovations in finance. According to a note from the organizers, ItaliaFintech currently represents 19 companies that, in aggregate, have about 1 million clients while managing € 450 million in loans.

ItaliaFintech brings together the main vertical players operating In Italy, with the common goal of facilitating the access of companies and individuals to Fintech services, simplifying their understanding and user experience and actively collaborating to fostering dialogue with traditional institutions and companies in order to turn the potential for market growth into real development.

The nineteen leading Fintech companies that joined forces in ItaliaFintech are: BorsadelCredito.it, Conio, Credimi, Epic, Fifty, Housers, Lendix, Modefinance, MoneyFarm, N26, Oval Money, Let’s Lose, Raisin, Satispay, Soisy, Soldo, Virtualb, Workinvoice and Younited Credit.

The Association explains that ItaliaFintech will be chaired by each of the members in turn. Ignazio Rocco di Torrepadula, founder and CEO of Credimi will be the spokesperson for the first half of the year.

“Fintech boosts the financial opportunities for Italian families and businesses and generates economic growth,” said Rocco di Torrepadula.  “These numbers are just the beginning of an ever-accelerating rise. The members of ItaliaFintech will work as part of a team, together with similar European associations, to facilitate the access of Italian companies and individuals to new sources of financing and innovative services in the Fintech domain. They will also be a point of contact for regulators improving the understanding of the evolution trends and contributing to the ultimate protection of consumers.”

This is a positive outcome for Fintech in both Italy and Europe in general. Several of the represented platforms are pan-European Fintech platforms.

 

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