Camerfirma is now a member of AEFI, the Spanish FinTech and InsurTech Association. AEFI is the leading employer in the Fintech ecosystem in both Spain and Latin America. Its mission is to collaborate, innovate and promote Spain as a leader in financial technology and to work on the Spanish FinTech ecosystem in order to encourage interaction between the main industry players. It has more than 145 associated companies from 13 vertical sectors.
This association, of which Camerfirma is now a member, works constantly and directly with Spanish regulators, supervisors and legislators in order to improve the Fintech ecosystem. Through becoming a member, we will contribute to the creation of a favourable ecosystem for FinTech and InsurTech companies in Spain, as part of the EU.
Through its work, AEFI aims to create a favourable environment for the development of start-ups and FinTech and InsurTech companies in Spain. To achieve this, the association enables dialogue, communication and collaboration with the relevant agents and bodies to consolidate growth and the ecosystem itself. In this sense, it focuses on different areas such as networking, FinTech and InsurTech registration, regulations and lobbying, as well as dissemination and communication tasks.
The Spanish FinTech and InsurTech Association seeks to create a standard of good practices, within the development of start-ups and FinTech and InsurTech companies in Spain, and works to ensure that member companies comply with a Code of Conduct and Good Practices established by the association. The code of conduct is aimed at the adoption of service standards designed to protect and benefit consumers, while also promoting responsible use of financial and insurance-related products.
In addition, it acts as a FinTech company representative through vertical groups led by specialised coordinators. The association also has a research area dedicated to project development to facilitate the revitalisation of the sector and enable the sharing of good industry practices.
Aside from the purely local focus, in Spain, AEFI is also working on two initiatives with a clear international vocation. On the one hand, the European FinTech Alliance, through which it hopes to create alliances with other European associations to promote the FinTech sector on the continent, develop new initiatives and share the development experiences of each country. Meanwhile, FinTech IberoAmérica aims to develop a framework covering regulations, talent, investment, innovation and financial inclusion, among all associations on the American continent.
RegTech companies should aim to relax the regulations endured by companies operating in various sectors, in order to reduce compliance costs and simplify the processing of rules and regulations that are often introduced by regulatory authorities. However, finding solutions that are properly tailored to the needs of players in diversified industries such as financial services, healthcare, insurance, and so on, requires a clear shared interpretation of the various standards.
By becoming a member of this organisation, Camerfirma continues to work in line with its strategy in the RegTech sector, an area where it is gaining a strong presence through a disruptive discourse within the regulatory landscape, in providing technologically advanced solutions to meet the growing demands of legal compliance within different sectors, and especially the financial sector in the Spanish market.