Government and Fintech: Navigating the Future Together

The Global Government Fintech Lab 2025's opening panel session delved into how public authorities in Ireland, Germany, Italy, and Switzerland are engaging with financial technology. The event, held in Dublin on June 11, featured experts from these countries and the private sector, addressing the question: 'Governments and fintech: comfortable bedfellows?'

Brian Corr, head of the international financial services unit in Ireland’s Department of Finance, highlighted the 'Ireland for Finance' initiative. This whole-of-government strategy, first presented in 2019 and updated in 2022, focuses on five themes, including fintech and digital finance. However, Corr noted that 'fintech' does not appear in Irish legislation or regulation, which affects the policy levers available.

Laura Körber, policy officer at Germany’s Federal Ministry of Finance, emphasized that fintech is seen as a key driver of innovation in financial markets. Germany has launched several funding initiatives, such as the German Future Fund, which committed €10 billion to support startups. At the EU level, initiatives like the European Tech Champions Initiative and the Capital Markets Union (CMU) aim to bolster fintech growth.

Elda Nogarotto, policy officer in the Directorate for the Regulation and Supervision of the Financial Sector in Italy’s Department of Treasury, described fintech as a broad term and a cross-cutting topic. Italy is working on a comprehensive fintech strategy that involves various government departments and aims to create a supportive regulatory environment for fintech companies.

Eva Selamlar-Leuthold, head of the Swiss Financial Innovation Desk, highlighted Switzerland's commitment to fostering innovation in financial services. The Swiss government has established an innovation desk to facilitate collaboration between public and private sectors, aiming to create a future-proof financial system.

Brian Montgomery from Workday provided insights into the private sector's perspective, emphasizing the importance of public-private partnerships in driving fintech innovation. He discussed how technology solutions can help governments and businesses navigate the rapidly evolving fintech landscape.

The panelists agreed that while each country has its unique approach, the common goal is to create a regulatory environment that supports innovation while ensuring consumer protection and financial stability. The session set the stage for further discussions on how governments and fintech can work together to achieve a more inclusive and efficient financial ecosystem.