The renewal of this agreement underscores the firm commitment of both organisations towards improving the FinTech and InsurTech ecosystem in Spain
AEFI and Cecabank have already collaborated in the publication of the "RegTech White Paper" and the report "Present and future of account-to-account payments"
MADRID, 22 NOVEMBER 2023. The Spanish Fintech and Insurtech Association (AEFI) and Cecabank, Spain's leading custodian bank and provider of payment, reporting and treasury solutions for all types of financial institutions and corporations, have renewed their collaboration agreement, which will allow both organisations to strengthen their excellent relationship to continue working towards improving the FinTech and InsurTech ecosystem in Spain, with the objective of attracting talent and investment.
Cecabank is constantly working to offer the cutting-edge solutions its customers demand. The renewal of this alliance promotes the digital transformation of the financial sector and highlights the importance that the bank places on collaboration with neobanks and FinTechs, to which it provides support in payments, reporting and depository services, among others.
Furthermore, with the new agreement, both organisations underscore their firm commitment to cooperate in improving the market conditions under which banks and FinTech companies operate in the country, helping to drive the development of new technologies and business models in the industry, to ensure that Spain continues to be a leader in the implementation of advanced solutions in the sector.
This strategic collaboration has been a key driver in the promotion of innovation and the dissemination of new trends and technologies in the field of FinTech and InsurTech, as evidenced by the publication in 2022 of the "RegTech White Paper", prepared by the AEFI with the support of Cecabank, which analyses, inter alia, basic aspects of the implementation of customer identification processes (know-your-customer), fraud prevention measures and electronic signatures. In addition, also as a result of this agreement, in September this year the report "Present and future of account-to-account payments" was published, in which Monitor Deloitte, Cecabank and the AEFI collaborated, which addresses A2A transfers, that is, those account-to-account payments that are executed directly between bank accounts, which have become one of the payment solutions with the greatest potential for innovation and adoption in Europe.
Arturo González Mac Dowell, Chairman of the Spanish FinTech and InsurTech Association (AEFI), pointed out that "we are delighted to renew our collaboration with Cecabank, to continue helping to generate a favourable scenario for the development of financial innovation projects in our country, with the preparation of reports, studies and the implementation of other initiatives that help to continue laying the foundations for the improvement and development of the sector. We thus reinforce a partnership that works because we share Cecabank's vision of contributing to the evolution of the FinTech ecosystem".
For his part, Juan José Gutiérrez, Corporate Director of Technology Services at Cecabank, stated that "the renewal of our agreement with AEFI is a sign of our firm commitment towards the development of the FinTech and InsurTech ecosystem in Spain. We are committed to continue driving innovation and improving market conditions, which in turn contributes to improving financial services for all customers in our country".
