The Spanish Association of Fintech and Insurtech (AEFI) announced at its General Assembly held recently in Madrid, its aspiration to grow by 35 percent throughout 2019. This was announced by Füture on March 18.
Fintech, what is it?
The term Fintech applies to companies that link technology with finance, while the term Insurtech refers to the union of words in insurance, technology and disruptive startups that use new technologies, such as : blockchains, big data, etc.
“The recruitment of new partners will be one of the main objectives for theassociation, which sets the goal of reaching the figure of 170 associates at the end of the year, compared to the 126 that it currently has”, they explained in the article. of Füture.
More announcements
AEFI also announced that it is working on a plan to develop a series of regional delegations in Spain: North, South, Catalonia, Levante and Centro, beyond the traditional plazas for this sector, Madrid and Barcelona, where a large part of the entities are concentrated. encompassed in this area.
“The regional ambassadors of AEFI will have the mission of collaborating in the organization of events and conferences in each region, as well as promoting the Fintech and Insurtech ecosystem throughout the national territory”, they said in a statement.
The push for the final approval and commissioning of the sandbox in Spain will be another of AEFI’s objectives for this year.
In addition, the AEFI explained that it continues working to consolidate international relations and will attend next April 10 in Panama to the III Summit of FinTech Associations in Latin America. On the other hand, during 2019 there is a plan to consolidate relations with the different European ecosystems of Fintech.
Positive balance of 2018
On its official website, the association explained that, looking in retrospect, the 2018 balance is positive. Rodrigo García de la Cruz, president of AEFI, made reference to said balance sheet, where the association managed to carry out many strategic projects, such as the presentation of a white book of Equity Crowdfunding; the creation of the Fintech Women network, an initiative that seeks to promote and make visible the female talent of the sector; and participation in the Alianza Fintech Iberoamérica Summit, which allowed AEFI to position itself as an international leader in the field of financial innovation.
In addition to meeting the vast majority of objectives they had for 2018, AEFI has been very active in all types of financial regulations and García de la Cruz said: “We are very proud, not only to promote the Fintech ecosystem in Spain, but also to have an international vision”.
The importance of visibility
Arturo González, vice president of AEFI, highlighted the importance of giving visibility to the association in an international environment with the purpose of having “international recognition to prepare the ground for the evolution of different areas in the sector”. On the other hand, he indicated that they want to establish communications and relations with the European Parliament to promote regulations in the Fintech and Insurtech ecosystems.
Another of the great milestones that will mark the first semester of 2019 for AEFI will be the Insurtech White Paper. Judith Giner, vice president of the association, and an important part in the development of this document, commented: “It is essential that the traditional insurance sector and supervisors have an X-ray of the sector and their needs”.