The Madrid Capital FinTech cluster, as well as its promoter partners Foro ECOFIN and Círculo FinTech, have launched various collaboration initiatives at the service of the Madrid City Council and the Madrid Economy in these last months of confinement and economic reactivation.
The delegate of the Economy, Innovation and Employment Area, Miguel Ángel Redondo, and the president of the EcoFin Forum, Salvador Molina, have signed an agreement between the General Directorate of Trade and Catering and the Madrid Capital Fintech cluster with the intention of promoting trade, consumption and neighbourhood purchases in Madrid from both bodies. In this sense, Redondo has highlighted “the importance of bringing together local commerce and the fintech industry to facilitate the most common processes of the different businesses and also help them to reduce the cost derived from the coronavirus crisis”.
The Madrid Capital Fintech cluster, a non-profit association, as well as its promoter partners, Foro Ecofin and Círculo FinTech, have launched different collaboration initiatives with the Madrid City Council with the aim of boosting the city’s economy in these last months of confinement and economic recovery.
Through the Directorate General for Trade and Catering, the Council seeks to stimulate consumption in those sectors most dependent on the business fabric, both SMEs and the self-employed, such as trade, restaurants, hotels and shopping, leisure and social tourism.
Campaign to boost local trade: We'll be back if you are
In this regard, and over the coming months, the collaboration between both parties will focus on the dissemination of the campaign ‘We’ll be back if you’re back‘, through the more than three million mobile banking customers that the entities in the cluster have. In addition, municipal markets will be promoted, payment tools will be provided for street commerce and specific cards will be created to promote consumption in the capital.
Finally, and thinking in particular of the complicated situation in which many shopkeepers and hoteliers have been left as a result of the COVID-19 crisis, a working group to provide credit to SMEs and the self-employed who need it by means of guarantees with different mutual guarantee societies and thanks to the collaboration of the different entities in the clusterthat will offer various financial facilities.
Public-private collaboration
Special mention should be made of private collaboration in the service of public collaboration through
- The diffusion of the municipal campaign VOLVEREMOS SI TÚ VUELVES through the more than 3 million mobile banking customers in the cluster: WiZink, Evo Banco, Imagin, Bnext and N26; who will selflessly talk to their clients and recommend the use of this bonus and discount campaign.
- Stimulating MUNICIPAL MARKETS through initiatives such as the SENIORS LEADING CARD which, working initially with the markets of Las Águilas and La Paz, wants to extend to the 47 municipal markets of Madrid a consumer initiative linked to the over-60s as a driving force for the consumption of children and grandchildren who come to buy at the markets.
- The provision of online payment tools (virtual POS) for BROKERING VENDORS through the main associations and cooperatives, with the collaboration of several FinTech and also Comercia Global Pay from CaixaBank.
- And we are willing to participate in the design of a permanent solution for the development of active Trade and Consumer policies through a Working Groupthat will guide a solution in the form of a card (BLUE CARD) that stimulates consumption. And this working group includes such important brands as Accenture, Entelgy, KPMG, Mastercard, Everis, Multigestión Iberia, Seniors Leading, WiZink, EVO Banco, Imagin, Bnext and N26
- Y a través del ‘Grupo de Trabajo de Créditos a Pymes y Autónomos’ estamos colaborando en la Financing with PRIVATE CREDITS GUARANTEED by the Administration through Mutual Guarantee Societies (MGS) for SMEs and self-employed workers in the retail and hospitality sectors in Madrid through crowdfunding entities, participative financial platforms and other FinTech companies, such as Tesoriza, October, Growly, Housers, Capital on Tap, Aplázame, Billib, Zank AND OTHERS.
About MADFintech
The MADRID CAPITAL FINTECH (MAD FinTech) cluster is a non-profit association that was created by the impulse of the MADRID CITY COUNCIL, with the leadership of the ECOFIN FORUMthrough its CÍRCULO FINTECHworking group, whose thirty companies become partners founders of the cluster.
MAD FINTECH brings together commercial companies, financial entities, associations, training centers and institutions, both public and private, that carry out activities in the Madrid area with a global vocation and that freely associate to promote the development of the FinTech ecosystem (technology finance) in Madrid and from Madrid in an international projection.
Photo caption: The agreement was signed on 15 July 2020 in Madrid, attended by José Luis Moreno, Director General of the Economy of the Madrid City Council; Salvador Molina, President of the ECOFIN Forum and of the Madrid Capital FinTech cluster; Miguel Ángel Redondo, delegate of the Economy, Innovation and Employment Area of the Madrid City Council; and Concepción Díaz de Villegas Soláns, Director General of Trade and Catering of the Madrid City Council.
