NewsMadrid City Council launches the largest financial technology cluster in Spain

The Deputy Mayor of Madrid, Begoña Villacís, participated today in the presentation of the FinTech cluster of Madrid Capital, a project promoted by the City Council and the EcoFin Forum, a group that brings together some thirty commercial and financial companies and public and private associations that carry out activities in the Madrid area to promote the development of the financial technology ecosystem (fintech) and which has the collaboration of the Bank of Spain.

In his speech, Villacís assured that “Madrid is going to be a refuge of freedom, confidence, certainty and legal security, the city in which we all fit and this cluster in the financial sector demonstrates this, as does the fact that Madrid is the city in Spain with the greatest number of emerging companies”.

Also taking part in the event were the delegate for the Economy, Innovation and Employment, Miguel Ángel Redondo; the delegate for Entrepreneurship, Employment and Innovation, Ángel Niño; the Director General of the Economy, José Luis Moreno; and the President of the EcoFin Forum, Salvador Molina, as well as representatives of numerous companies taking part in the Forum.

The event, which was attended by more than 150 executives from 120 companies, aims to promote new models of collaboration between the financial and technology industry through open innovation, training, the networkingand co-creation and to position Madrid as the centre of investment and financial technology projects. This initiative joins other similar Madrid City Council initiatives on big data and cyber security.

In this respect, Redondo stressed that “Madrid has all the ingredients to become an ideal place for the proliferation of the fintech sector in terms of foreign investment, education, health and the best life expectancy in the European Union”.

The conference culminated with the signing up to the Ecofin Forum of ten companies that are leaders in technological disruption in the Spanish and international financial world and recognised in the TopTen FinTech 2020: Bnext, N26, October, Creditea, Aplázame, Finizens, Housers, Woonivers, Life.Box and Tesoriza.