The 40th issue of the Liechtenstein banking sector magazine Bankenmagazin is dedicated to digitalization. In an interview, Patrik Bont of the FMA talks about the opportunities facing the Liechtenstein financial centre arising from digitalization.
Due to the growing importance of the fintech sector, FMA established a regulatory laboratory back in 2016 to act as an internal team of experts for the fintech area. In recent months, the FMA itself has been surprised by the high demand for its services, said Bont, who is head of the regulatory laboratory.
“We’re even getting calls from entrepreneurs in Japan and the U.S. who are interested in the Liechtenstein financial centre.”
According to Bont, some two dozen companies belong to the fintech sector in Liechtenstein, including startups as well as “a few established banks”.
The FMA is closely following the efforts of the EU Commission to position Europe as a fintech location by introducing a European passport for fintechs. Liechtenstein is well positioned in this respect, said Bont.
“Thanks to scaling capabilities in the digital world, a relatively small financial centre suddenly has the reach that only the very large financial centres had in the analogue world,” said the fintech expert.
In the future, it is not just size that will matter, but also “innovative strength, expertise, speed, and economic and legal framework conditions”.