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Center for financial innovation (CFI) was established by the Ministry of Finance of the Slovak republic in February 2018. The main goal of CFI is to create a platform for the regular exchange of information and experience between relevant stakeholders in the public sector, market participants and associations. It is a priority of CFI to map the environment related to the introduction of new technologies in the financial sector, identify the shortcomings or possibilities to improve this environment and to actively reduce barriers for FinTech companies in Slovakia.
FinTech should include any financial innovation regardless of the technology used, these innovations should lead to new business models, applications, processes or products with significant impacts on financial markets, financial institutions and provision of financial services. The areas with the highest potential growth of financial innovations are payment services, banking, insurance, where numerous innovative products and technological solutions are already present.
From the long term perspective, the activities of CFI and the participating partners lead to the increase of dynamics of the development of financial services in Slovakia and improvement of competitiveness of the Slovak business ecosystem on the European, but also global market.
For further information related to the topic of FinTech please do not hesitate to contact us at: fintech@mfsr.sk
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