Liechtensteins efforts to attract innovative financial technologies (FinTech) are bearing fruit. The point of contact in the field is the regulatory laboratory (Regulierungslabor) at the Financial Market Authority.
Prime Minister Adrian Hasler is pleased with the effect of the innovation offensive Impuls Liechtenstein on the FinTech sector, according to a press release. A team of experts at the Financial Market Authority (FMA) has formed a so-called regulatory laboratory that acts as point of contact for companies with innovative business models. It also looks into regulatory and prudential questions. The FMA has already authorised two e-finance institutes, and is reported to be in contact with around ten more parties interested in founding a FinTech company, writes the press release.
Hasler commented: The targeted measures implemented under Impuls Liechtenstein are designed to motivate people to realise their ideas in Liechtenstein. We must break down barriers facing start-ups as far as is possible. Patrick Bont, head of the regulatory laboratory, added: There are clearly a market and interest. With its stability, liberal attitude, market access to Switzerland and Europe, and prompt regulatory authority, Liechtenstein is an attractive location.
Under the patronage of Prime Minister Adrian Hasler, a FinTech conference will take place at the end of September. Organising it will be the FMA in partnership with the Liechtenstein-based Verein FinTech association.