Fintech industry cozying up to government collaboration?
News Article: FinTech Innovations Take Centre Stage in Dublin
Financial technology (FinTech) took centre stage in Dublin on 11 June 2025, as representatives from Italy, Germany, Switzerland, Ireland, and the private sector gathered for a panel discussion. The event, hosted by the Global Government Fintech Lab 2025, focused on the engagement of public authorities in European nations with financial technology.
Italy's Treasury Department unveiled 'FinTech Factory MEF', a new initiative aimed at supporting start-ups, spin-offs, and Small and Medium-sized Enterprises (SMEs) in developing fintech solutions for potential applications in the public sector. The Italian Ministry of Economy and Finance (MEF) is funding this initiative through the National Cybersecurity Agency.
In a related development, the Italian government initiated fintech solutions for public administration in 2025 by supporting a strategic partnership involving Bluefin, Cassa Centrale Raiffeisen in South Tyrol, ICIT, and Worldline. This partnership delivered all-in-one payment security with PCI-validated P2PE solutions specifically focused on the South Tyrol region.
Brian Montgomery, senior director at Workday, provided a private-sector perspective on the discussion, emphasising the importance of 'marrying tech with human analysis'. Montgomery highlighted Workday's growth as a testament to the pace at which technology evolves.
The German Federal Ministry of Finance is at the forefront of FinTech innovations. They are organising a seminar on the 'future of finance', exploring fields such as Artificial Intelligence (AI) and quantum computing. The ministry has also co-developed a modular generative AI platform with several applications. Laura Köber, policy officer in the digital finance, payment services, and cybersecurity unit of Germany's Federal Ministry of Finance, highlighted funding-increasing and bureaucracy-reducing initiatives at German and EU level, such as the German Future Fund and the European Tech Champions Initiative.
Switzerland's National Bank is actively involved in the FinTech sphere, working in the sphere of tokenised finance and wholesale central bank digital currency. The Swiss Financial Innovation Desk ('FIND'), an initiative aimed at promoting financial innovation, was discussed by Eva Selamlar-Leuthold, head of the Swiss Financial Innovation Desk. 'FIND' is an initiative aimed at consolidating Switzerland's position as one of the world's leading financial centres.
The Swiss National Bank, in collaboration with UNHCR and the Cardano Foundation, has recently launched a crypto staking-based exchange-traded product (ETP) for refugee support.
The panel session was moderated by former senior UK civil servant Siobhan Benita. Brian Corr, head of the international financial services unit in Ireland's Department of Finance, discussed the 'Ireland for Finance' initiative, a whole-of-government strategy that includes fintech and digital finance as one of its five themes.
Elda Nogarotto, policy officer in the Directorate for the Regulation and Supervision of the Financial Sector in Italy's Department of Treasury, discussed the evolution of a regulatory sandbox in Italy and the establishment of 'FinTech Factory MEF', an initiative where state authorities look to procure fintech solutions. Nogarotto expressed excitement about AI but also concern about its risks, stating that technology can help solve challenges but doesn't tell the right thing to do.
Ireland's minister for digitalisation, Jack Chambers, delivered a keynote speech before the panel session. Selected companies under 'FinTech Factory MEF' will have the opportunity to participate in 'validation paths' for their technologies and solutions within 'virtual innovation labs... interfacing with the business needs of the Treasury' and receive 'non-repayable grants'.
The FinTech innovations discussed at the panel session underscore the growing importance of technology in the financial sector and the role of public authorities in fostering and supporting these advancements.
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