Carlo Giugovaz

Since 2017 the #FintechChannel has been a point of contact through which startups, companies, banking and financial intermediaries which aim at developing innovative solutions in the area of financial and payment services can dialogue with #Bankitalia. Through the Fintech Channel, Bank of Italy replies to questions on interpretation of the regulatory framework, comparison of market trends, multidisciplinary insights, and opportunities related to #MilanoHub and #Regulatory #Sandbox innovation channels. #Bankitalia #FintechChannel can count on a dedicated team composed of experts in economics, finance, insurance, technology, law and regulation. This team, with whom you quickly get in touch, performs cross-cutting analyses and provides the required answers. #FintechChannel since 2017 has already supported more than 170 entities by offering: 🗨️ An informal dialogue 💻 Support for digital evolution. 📃 Regulatory guidance Learn more at our website 👉 https://bit.ly/3TNjdXO

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[BNPL for Business] 🚀🌟 The Present and Future of Digital Payments: Data and Perspectives The digital payments sector is undergoing a significant transformation, both in Italy and across Europe. This shift not only reflects the ongoing technological evolution but also highlights a radical change in consumer habits and retailer strategies. The growth of electronic transactions, particularly through the development of contactless and remote payments, underscores the success of this trend. A success that merits a closer look through the study of key data. Digital Payments Data In Italy, digital payments accounted for 32% of the total in 2022, with an additional increase ranging between 9% and 12% anticipated for 2023. This trend is clear and corroborated by European numbers, with the EU reaching 47% and the UK standing out with an even higher percentage of 62%. The growth has been particularly notable for contactless payments, which saw a 40% increase, according to recent research conducted by Nexi, a company specializing in POS and digital payment solutions. Remote payments have also registered a 20-30% increase. The rise in card usage, with estimates suggesting a volume between 425 and 440 billion euros, highlights a significant fact: cash is giving way, after years of hesitation, to more modern and secure payment methods. Simultaneously, the increasing prevalence of points of sale equipped to accept digital payments indicates an acceleration toward adopting these technological infrastructures. Italy now boasts an estimated total of 3.1 to 3.3 million active POS terminals, with a growth projection of 3-10% for 2023. Retailers’ Response to This Revolution Retailers are responding to this evolution by making substantial investments in digital technologies. The adoption of innovative payment solutions has risen from 12% to 21%, while advanced cash register systems have increased from 11% to 14%. Interest in self-checkout systems is also growing significantly, from 2% to 7%, indicating a strong push towards more autonomous and personalized shopping experiences. This transition to digital impacts not only payment methods but also consumer behaviors and personal finance management. Customers are increasingly leaning towards solutions that offer convenience, speed, and security, driven by a global context where digital technology is permeating every aspect of daily life. Current data and trends, therefore, outline a future where digital payments will continue to expand in terms of both adoption and innovation. This scenario presents substantial opportunities for companies in the payment sector but also raises new questions regarding security, privacy, and accessibility. It is crucial that the involved companies continue to invest in protective measures. PausePay - il Buy Now Pay Later B2B italiano Let's stay connected and share insights! #DigitalPayments #Fintech #FutureOfPayments

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Tomorrow is UniCredit and Trustpair’s Webinar! 🚀 Don't miss this opportunity to gain actionable insights and strategies about fraud prevention from our experts Baptiste COLLOT - Trustpair and Giovanna G. & Luca Vanni - @Unicredit ✅ Empower your business for success in the evolving payment landscape. Register now: https://lnkd.in/eEdPxDiw #Webinar #InstantPayments #FraudPrevention #Finance #Trustpair #UniCredit

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Lemonway has been blocked by Banca d'Italia - Eurosistema to open new wallets in the country until further notice #Lemonway, a leading French #fintech and key partner for Italian #crowdfunding platforms, has been blocked by Banca d’Italia from opening new wallets until further notice. This unexpected restriction affects Lemonway's ability to enter into new agreements for payment services and introduce new products and services in Italy. The regulatory action impacts new customers but does not affect existing accounts or services. Founded to streamline the management of client wallets for crowdfunding platforms, Lemonway has been a significant player in the fintech sector, with ambitions to become a major European market leader. The decision by Banca d’Italia comes amid similar restrictive measures taken against other fintech companies like Qonto, primarily due to Anti Money Laundering (AML) concerns. The intervention by Banca d’Italia is poised to have substantial implications for the crowdfunding sector in Italy, where alternatives to Lemonway are limited. This regulatory hurdle comes at a time when the industry is already grappling with increased costs and reduced margins due to new European regulations. The current regulatory climate emphasizes the need for fintech companies to prioritize compliance and adapt to evolving regulatory requirements to maintain their market position and continue their growth trajectory. The startup itself informed current customer of this activity through a specific email today. The article on AziendaBanca in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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⬇️ Today, let’s deep dive into the #Payments ecosystem in #Italy from our latest white paper, "Key Players in the EU Payments Landscape 2024": https://lnkd.in/dVYy5rTP 💳 Owned by local banks, BANCOMAT S.p.A. plays a central role in Italy’s payment landscape with three main solutions: Bancomat (interbank network), PagoBancomat (the card scheme), and BancomatPay (online payment solution). While cash still dominates at POS, with 69% of transactions, digital payment adoption is rising. Visa and Mastercard are also key players, with 34% and 20% market share, respectively. 🌐 Similar to other European countries, Italy offers a range of alternative payment methods. Our Member Satispay is a highly popular mobile payment app, with over 4.4 million users and partnerships with government platforms like PagoPA S.p.A. PayPal remains the leading digital wallet, with over 90% market share, and other solutions like Apple Pay, Google Pay, and Skrill are available. Meanwhile, BNPL continues to grow, led by local unicorn Scalapay. Scalapay entered multiple partnerships during the second half of 2023, partnering with the US-based card issuing platform Marqeta. Other players include Tinaba and MyBank. 🏦 The three leading banks are Intesa Sanpaolo, UniCredit, and CDP Cassa Depositi e Prestiti (CDP), holding significant market share. UniCredit’s buddyunicredit, N26, Revolut, and HYPE can be found in the fully digital banking landscape, and non-banking issuers like PostePay and Mooney are important institutions in Italy. The key challenge that banks and financial institutions are facing is the instant payments regulation. This regulation poses digitalisation challenges to the players in this industry and may lead to an overhaul of the entire internal IT payment systems of certain institutions. 📶 Italy is a strategic market for payment service providers as it transitions from cash to digital. Major players like Nexi Italy lead the payment processing space, serving over 900,000 merchants. Worldline Italia, Axerve and Edenred Payment Solutions are also prominent players, with growing acceptance networks across the country. Key Takeaway💡: "Local payment solutions (such as Bancomat, Satispay) remain highly popular and the preferred payment methods. Due to the high cash usage in the country, Italy is an attractive market for new players and innovative solutions. Similarly to other countries in the European Union, instant payments have become one of the key challenges and will force players to adapt their technical capabilities.” Massimo Tonassi | Partner – Deloitte

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Italy's top banks, CDP Cassa Depositi e Prestiti and Intesa Sanpaolo completed a pioneering digital bond issuance worth 25 million euros on the Polygon Labs blockchain network. This transaction marks the first digital bond issuance under Italy's new digital asset regulations and was part of the European Central Bank's initiative to explore blockchain-based wholesale fiat money settlements. The bond, issued by CDP and underwritten solely by Intesa Sanpaolo, had its cash flow settled in euros on the same day using the Bank of Italy's "TIPS Hash Link" tool, ensuring seamless interoperability between blockchain and traditional payment systems. This development highlights the growing trend of tokenizing real-world assets to enhance transaction speed, transparency, and efficiency in the financial sector. Read more here: https://lnkd.in/e8n-dJA3

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UniCredit's €10 billion bid to acquire BancoBPM marks a significant step in European banking.🏦 The deal would solidify UniCredit's position as Italy's second-largest lender, creating a more competitive domestic powerhouse capable of handling heightened regulatory pressures and profitability challenges. This move aligns with EU encouragement for cross-border and domestic bank mergers to strengthen the sector. Earlier this year, UniCredit also acquired 7% of Commerzbank AG in Germany, signalling its ambition to diversify across the European markets. Together, these strategic moves suggest UniCredit aims to bolster market share and resilience across Europe. Across Europe, we’re seeing consolidation accelerate as banks seek scale to compete globally, reduce costs, and embrace digital transformation. From Societe Generale merging its French retail arm with Groupe Crédit du Nord to DNB and Carnegie Investment Bank’s new alliance in the Nordics, the race is on to create streamlined, resilient institutions in Europe. It's exciting to see UpSlide clients at the heart of this activity, encouraging growth rather than cuts within the industry! 📈 #MergersandAcquisitions #Banking #Finance #Europe

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According to the Bank of Italy, the Italian #Fintech industry could attract over 901 million in investments for the two-year period 2023-2024, in order to purchase innovative technologies for grow. While, in the two-year period 2021-2022 it amounted to 600 million euros. Furthermore, further investments of 380 million euros are planned starting from 2025, until the projects are completed. The total flow of investments associated with the projects surveyed, reports Bankitalia, is 1.88 billion euros. In the two-year period 2023-2024, spending increased 3.8 times compared to 2017-2018. Waiting for the next edition of #MilanFintechSummit (8-9.10 | Allianz MiCo - Milano Convention Centre), find out together - in this article by #MFSNewsroom - how is evolving the Italian fintech market: https://lnkd.in/gynUyVCe

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Today, Intesa Sanpaolo has subscribed a digital bond issued by CDP Cassa Depositi e Prestiti on the #Polygon blockchain. This is the first transaction in Italy within the “FinTech” decree-law, which governs the issue and circulation of financial instruments in digital form. The project was selected by the Bank of Italy and the ECB as part of the “Exploratory work on new technologies for wholesale central bank money settlement” initiative. This transaction demonstrates how public #blockchains are a powerful technology for financial institutions, making transactions faster and safer. #Tokenization is establishing a new standard for efficiency and automation in financial markets, and I believe this technological change will impact not only bonds but every asset class over the coming years. https://lnkd.in/eDps4UN6

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Rent2Cash secures a €3 million Pre-Seed with support from Banca Finint #Rent2Cash, the first Italian #fintech startup to introduce 'rental advance' services, has successfully closed a €3 million pre-seed funding round. This milestone marks the beginning of Rent2Cash's operations in Italy, providing up to three years of rent in advance to property owners. Rent2Cash has secured a €3 million pre-seed funding round through a mix of equity and debt. This round was supported by major Italian banking groups, institutional investors, and business angels. The funds will be used to purchase initial lease contracts, enhance residential products, develop new offerings in the commercial real estate segment, and strengthen their proprietary technology platform, "Vault." Founded in 2023 by Gianluca Fioranelli and Yilang Chen, Rent2Cash aims to revolutionize the rental market in Italy by offering innovative financial solutions for property owners. The company's mission is to provide financial liquidity through advanced rental payments, making it easier for property owners to manage their assets and plan for the future. The pre-seed round was supported by Banca Finint, which acted as advisor, investor, and servicer for the securitization process. This collaboration with Banca Finint, along with the backing of other significant financial entities, underscores the strong confidence in Rent2Cash's business model and growth potential. The company's proprietary platform, "Vault," analyzes over 50 variables to assess the status of properties, lease contracts, and the financial health of owners and tenants. This robust analytical capability positions Rent2Cash to expand into the commercial real estate segment and other asset classes. The €3 million funding will also support the recruitment of 30 new talents, aimed at strengthening key areas such as digital innovation, sales, and commercial operations. This expansion will further enhance Rent2Cash's ability to deliver cutting-edge solutions and drive growth in the real estate finance market. The article on Borsa Italiana in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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Italian digital innovation company GELLIFY acquires the Spanish NOBA to expand internationally #Gellify, the Italian innovation and digital transformation company, has announced the acquisition of #Noba Ventures, a Spanish firm specializing in developing and launching business prototypes. This acquisition fills a crucial gap in Gellify’s service offerings by adding pre-market launch strategies to their portfolio. Founded by CEO Francesco Ferri, Gellify supports businesses in their innovation processes and digital transformations. With headquarters in Casalecchio di Reno, Bologna, Gellify has 370 employees and recorded €40 million in revenues in 2023, with an EBITDA of over 15%. The company also has offices in Milan, Dubai, Madrid, and Barcelona. The acquisition of Noba Ventures, a company that closed 2023 with €2 million in revenue and notable clients like Danone, Nestlé, HP, and Generali Assicurazioni, will expand Gellify's business by approximately 25%. This move not only strengthens Gellify’s presence in Spain, where they have been active for four years, but also enhances their international footprint, particularly in Northern Europe where Noba holds 75% of the market among major IT multinationals. Francesco Ferri explained, "With Noba, we complete our service chain and move closer to the decision-making centers of innovation and digital transition. The Iberian market is vibrant with innovation and serves as a reference point for all of Europe." This strategic acquisition aligns with the growing investments in innovation in Spain, as highlighted by the country's rise in the European Commission’s Digital Economy and Society Index (DESI). Despite a downturn in venture capital, Spain has improved its digital innovation rankings from 49 to over 60 points. Gellify’s entry into Noba with a 51% stake will introduce a division focused on business prototyping, creating functional strategies and models essential for launching startups. This expansion not only solidifies Gellify’s comprehensive service offerings but also positions them closer to the hubs of digital innovation in Northern Europe. The article on Corriere della Sera in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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We are happy to announce the participation of DeltaBlock as Industry Supplier Partner of the Annual Midcap Event on the 1st & 2nd of October 2024 created and organized by CF&B Communication - Midcap Events María Silvia Scetta, CEO & Co-Founder of Deltablock :"Currently, we assist listed companies and Financial Services Providers in Singapore and France. DeltaBlock has been recognized with numerous prestigious awards in the deep tech space throughout France and Europe, largely due to the innovative research led by our CTO during his PhD and subsequent work. Our unique selling proposition is our ability to deliver at least twice the efficiency while requiring only 20% of the resources compared to the best alternative in the market. We primarily serve listed companies, liquidity providers, brokerage firms, exchanges, and asset managers, ensuring our solutions meet the diverse needs of the capital market ecosystem. We are very happy to participate to the Annual Midcap Event and are looking forward to meet you there !" 👉🏼  The Annual Midcap Event holds great importance within the Capital Markets industry, offering a unique platform for listed and pre-IPO companies from Europe/UK to present their investment merits for the broader investment community. ✅ The event will comprise 2 full days of One-to-One’s, Group Meetings, Discovery Meetings, Workshops, Round Tables, Networking - and more! 📅 When? 1st & 2nd of October 2024 📍 Where? Hotel Westin Vendôme (Paris) ➡️ How? Get more information or register here: [email protected] DeltaBlock DeltaBlock (Singapore) María Silvia Scetta Antoine Rimpot #entreprisescotées #investorrelations #smallandmidcaps #Midcaps #smallcaps #frenchtech #sociétésdegestion

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🚀 Exciting News: Workinvoice Joins Forces with Generalfinance! 🚀 We are thrilled to announce that Workinvoice has been acquired by Generalfinance S.p.A., a leader in the financial sector! This strategic acquisition marks a significant milestone in our journey and brings a multitude of benefits to our investors, customers, and partners. 🔹 For Workinvoice and Its Investors: This acquisition strengthens our market position and accelerates our growth trajectory. By joining forces with Generalfinance, we gain access to broader resources and expertise, enhancing our ability to innovate and scale. Our investors can look forward to increased value and robust returns as we leverage Generalfinance’s extensive network and financial strength. 🔹 For Our Customers: Our commitment to providing top-notch digital lending solutions is now stronger than ever. With Generalfinance’s backing, we will expand our invoice trading and discounting services, offering more flexible and efficient financing options. Our customers can expect a seamless experience with enhanced support and tailored solutions that meet their evolving needs. 🔹 For Our Partners: This partnership opens up new avenues for collaboration and growth. We are excited to work closely with Generalfinance’s team to explore innovative ways to serve our mutual clients better. Together, we will drive forward the digital transformation of the financial sector, delivering cutting-edge solutions and unparalleled value. This acquisition also leads to the formation of a new “Fintech & Digital Lending” division within Generalfinance, spearheaded by our very own Matteo Tarroni. We are confident that this integration will create a dynamic environment where innovation thrives, and customer satisfaction reaches new heights. Generalfinance, a publicly listed company on Euronext STAR Milan, excels in specialty finance with a strong track record in factoring for distressed companies, showcasing over 30 years of success and growth. Under the leadership of Massimo Gianolli, a true innovator in specialty finance, we are poised for a new era of growth and innovation. This achievement would not have been possible without our dedicated team, supportive shareholders, and skilled advisors. Thank you all for being a part of our journey. We look forward to this exciting new chapter and the opportunities it brings for everyone involved. #Workinvoice #Generalfinance #Fintech #DigitalLending #Innovation #Growth #CustomerCentric

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🚀Intesa Sanpaolo takes a bold step into the future of finance with blockchain! 🌐Blockchain promises to reduce costs, increase efficiency, and enhance security in financial transactions. But this shift comes with its own set of challenges. The transparency of blockchain, while beneficial, also raises concerns about privacy and data sovereignty. Curious to learn more about how this could reshape the banking landscape? Dive into the full article to explore the impact, opportunities, and potential risks of this pioneering move. https://lnkd.in/dsmW52ic

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📢The Banca d'Italia's recent communication regarding the submission of notifications and applications for launching crypto service offerings is a significant development for various financial players. Specifically, this document is relevant to Crypto Asset Service Providers (#CASPs), #Banks, and Electronic Money Institutions (#EMIs), who are aiming to engage in the Italian market by offering services involving crypto assets. This initiative is a positive step towards integrating crypto-related services into Italy's regulated financial environment, ensuring compliance with both #national and #European regulatory frameworks such as #MiCA (Markets in Crypto-Assets Regulation). 📍Read my article on Wired Italia https://lnkd.in/dh43QGNW 📍And also buy the Manuale Diritto e Tributi dell'economia digitale. https://lnkd.in/dEbvqeAx

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#FinTech | The Future of #Banking? 🚀 Why #VIBANs are the Next Big Thing in #DigitalPayments ! 1/ 📢 The European Banking Authority (EBA) just dropped a game-changing report on Virtual IBANs (VIBANs)! Here’s what you need to know about the future of banking and payments. #FinTech #DigitalPayments 2/ 🔍 What are VIBANs? Virtual IBANs are unique bank account numbers assigned for individual transactions. They offer the same functionality as traditional IBANs but are not tied to a physical bank account. This means more flexibility and efficiency in payments. #BankingInnovation 3/ 💼 Why do VIBANs matter? With VIBANs, businesses can streamline their payment processes, improve reconciliation, and enhance security. They allow for better management of incoming and outgoing payments, making it easier to track transactions. #BusinessEfficiency 4/ 🌍 Global Impact VIBANs are gaining traction globally, especially in the European market. They align with SEPA (Single Euro Payments Area) standards, making cross-border payments within Europe more seamless and cost-effective. #GlobalPayments 5/ 🔒 Security Boost VIBANs reduce fraud risk by providing more control over account numbers. Businesses can issue VIBANs for specific transactions or customers, minimizing the exposure of main account details. #PaymentSecurity #FraudPrevention 6/ 🚀 A Growth Driver for FinTechs FinTech companies are leveraging VIBANs to offer innovative financial services. This technology is a key enabler for open banking, allowing FinTechs to create more personalized and efficient banking solutions. #FinTechGrowth 7/ 📈 EBA’s Recommendations The EBA suggests harmonizing VIBAN standards across Europe to ensure uniformity and interoperability. This could accelerate the adoption of VIBANs and support the broader goals of the EU’s digital finance strategy. #DigitalFinance #EURegulations 8/ 🔮 The Future of Banking As VIBANs become more widespread, they’re expected to revolutionize the way businesses handle payments. Expect to see more adoption in 2024 and beyond, with VIBANs playing a central role in the future of digital payments. #FutureOfBanking 9/ 💡 Takeaway VIBANs represent a significant leap forward in payment technology, offering businesses better control, security, and efficiency. Keep an eye on this space—it’s set to transform the financial landscape! Hashtag #PaymentTrends #FinTechRevolution 10/ 🗣️ What do you think? Are VIBANs the future of banking? Let’s discuss how they could impact your business! #OpenBanking #DigitalTransformation

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