Press Release: FinTech will bring Europe success in the digital age

Innovators from eleven countries presented a Manifesto to the governments of their countries and launched the FinTech Valley Europe initiative.

Financial technology (FinTech) experts from seven European countries expressed their belief in Bratislava that digitization and innovation are essential for progress and prosperity. They addressed a challenge to European governments: “Let’s start the development of Europe in the digital age! Convinced of the potential that the digital transformation of finance brings for the economy, society and every individual, they therefore present the FinTech Valley Europe Manifesto to the governments of their countries.

The initiative was launched by the signing of a memorandum at the initiative of the Slovak fintech association FINAS by the leading representatives of fintech associations from Poland, Austria, Bulgaria, Hungary, Ukraine, Moldova with the support of colleagues from Israel. It was a key outcome of the Finweek Bratislava 2023 conference, which confirmed its position as a platform for the development of banking, fintech, cryptocurrencies and insurance in Central Europe.

The FinTech Valley Europe initiative, which was discussed at the event by experts from more than a dozen countries, represents the vision of a leading international player in the creation of innovative and inclusive financial solutions. They will bring effective functioning for various areas of society and the economy. The connection of innovators from more than a dozen European countries will make it possible to create an environment for the development of FinTech ecosystem projects with global market reach. “The principles of the manifesto will enable the development of the digital economy in Europe,” declared FINAS president Davy Čajko.

The Fintech Valley Europe initiative is not intended to function as a system focused only on the markets of the participating countries. “On the contrary, in the global ecosystem, it will be a partner for large countries, including the USA, Canada or Japan, as well as ASEAN-format groupings,” explains D. Čajko.

The signatories of the memorandum on the Fintech Valley Europe initiative to support the growth and competitiveness of the FinTech industry are FinTech leaders from the founding countries:

  • Slovak republic
  • Austria
  • Poland
  • Hungary
  • Ukraine
  • Bulgaria
  • Moldova

The Israel Fintech Center is an associate member.

About the FINAS association

Fintech and Insurtech Association of Slovakia (FINAS) is a platform for sharing knowledge in the field of financial innovations and the financial market. FINAS connects the worlds of traditional and technology companies of the financial market and actively builds communities of companies and organizations in the field of Fintech and Insurtech. 


Davy Chaiko, president

APPENDIX: Key points of the Fintech Valley Europe manifesto


In order to accelerate the competitiveness of Europe and the success of its citizens in the digital age, we suggest that the governments of our countries include the development of FinTech among the priorities of government policies with the following points:

  1. Support of innovation and technological development
  2. Regulatory flexibility
  3. Cooperation and dialogue
  4. Support for education and digital financial literacy 
  5. Openness to international cooperation
  6. Partnerships
  7. Security and protection of personal data
  8. Digital identity 
  9. Financial inclusion 

Note: The final wording of the text of the Fintech Valley Europe Manifesto points is subject to discussion by members of the initiative, it will be published shortly, and the entire Manifesto will be communicated to the governments of the participating countries through fintech associations.

Leave a Reply