The new FinTech Point of Contact service provided by the FMA continues to be in high demand, receiving 40 enquiries from companies and start-ups during the first six months of the year. Over the same period the FinTech Point of Contact team also held 13 information meetings with market participants and met with representatives of the Austrian FinTech scene to discuss relevant issues. In this way, 36 market participants were provided with FinTech-related information. The topics raised focussed on licence requirements, video-based identification and the prevention of money laundering, virtual currencies, PSD II and its implementation, as well as robo-advice. The FMA is currently examining the fully developed business model of one FinTech.
The FinTech Point of Contact has been set up as a single point of contact, which means that its team is the exclusive point of contact for all questions relating to licensing and supervisory law. These experts have many years of experience in dealing with new business ideas, and also contribute their expertise as members of international working groups of the European financial market authorities. In addition, they are highly sought-after speakers at various events. In supervising FinTechs the FMA ensures that existing levels of protection are being adhered to and market integrity guaranteed. New regulations in this area must not favour any particular technologies or market participants, and must also be proportionate.
The FinTech Point of Contact can be reached online via a form on the FMA’s website https://www.fma.gv.at/en/cross-sectoral-topics/fintech/fintech-contact-form/
Journalists may address further enquiries to:
Tiemon Kiesenhofer
+43/(0)1/24959-6010
+43/(0)676/882 49 610