With the publication in the Official Gazette of the implementing decree of the Ministry of Economy and Finance that came into force on 17 July 2021, Italy, too, is furnishing itself with a secure, reliable and stimulating environment such as the Fintech Regulatory Sandbox.
“In our opinion, this is an extremely interesting area of consideration for Fintech companies, who can operate within a temporary ring-fenced setting without the risk of sanctionable infringements,” declared Ivan Pellegrini, Co-Founder & CEO of Borsa del Credito and Vice President of ItaliaFintech. We are used to considering our situation as often excessively regulated and having to take precautionary measures that sometimes end up slowing down internal growth and discouraging investment from abroad. But now, within this Fintech Regulatory Sandbox, regulators, authorities, investors, developers, organizations and innovative startups can learn, plan, develop and test new technologies and procedures in the banking, finance and insurance sectors within a context of simulation. This makes it possible to tackle the complexities of the system so as to be able to endorse it. At a time of ferment in the sector that we, as ItaliaFintech, are registering, this is the right time to guarantee a terrain of great interest and effectiveness for investors from abroad, who are showing increasing attention towards innovative businesses in Italy. What will make the difference is the position that the regulators adopt; we will assess the tool on the basis of the facts, the timings and the methods.”