The Community of Madrid joins the MAD FinTech cluster (Madrid Capital FinTech), together with the Madrid City Council and the ECOFIN Forum, to promote the development of a FinTech ecosystem in Madrid and from Madrid, which will allow the reinvention of the financial services of the future, be a laboratory of ideas that take advantage of the opportunities of the current technological revolution and position Madrid as a Fintech Capital.
To this end, the Community of Madrid has signed with MAD FinTech a ‘General Protocol of Action between the Ministry of Economy, Employment and Competitiveness of the Community of Madrid and the Association Cluster Madrid Capital FinTech for potential development and implementation of digital technologies in Madrid companies in the financial sector, which is a true example of public-private partnership.
The agreement was formalized on September 22nd between the Deputy Minister of Economy, Employment and Competitiveness of Madrid, Rodrigo Tilve, and the President of the Ecofin Forum and the MADFinTech Cluster, Salvador Molina, ratifying what was announced by Rodigo Tilve himself last July 21st during the celebration of the InnoDay FinTech, which preceded the First General Assembly of partners of the cluster.
Community of Madrid Agreement MAD FinTech
According to the protocol signed, “the Community of Madrid will support MAD FinTech as an institutional partner, collaborating as an agent to promote and stimulate public-private collaboration to achieve the common goal described above, for the benefit of the general interest of companies and citizens of the Community of Madrid”.
This agreement allows the Madrid City Council and the Community of Madrid to share the leading role in the common objective of making Madrid the great FinTech and Financial Capital within an international context of great digital capitals of which it is already a part. In the latest international ranking, Madrid is among the top ten FinTech capitals in the world.
The signed protocol creates a Monitoring Committee composed of four people in order to give continuity, concreteness and capacity of action to this incorporation of the Community of Madrid to the MAD FinTech cluster; as well as “the adoption of those actions that could be considered necessary for the best implementation of the protocol”.
El clúster Madrid Capital FinTech consolida así sus capacidades de colaboración público-privada y lidera el proyecto común de “reinventar los servicios financieros” en una innovación abierta basada en la colaboración entre empresas y entidades financieras, entre banca y seguros, entre industria financiera y nuevos incumbentes, entre empresa y universidades, entre lo Público y lo Privado.
Photo caption:Rodrigo Tilve, Deputy Minister of Economy and Competitiveness, and Salvador Molina, President of MAD FinTech, ratify the public-private collaboration in pursuit of Madrid Capital FinTech.