After having attracted much interest from venture capital funds and international investors, the Italian fintech sector is now attracting attention by Italy’s Supervision authorities.
Consob, the Italian stock market regulator, presented on March the 23rd its plan for an encyclopedia about the fintech sector and the first part of that work (see here a previous post by BeBeez). Consob carried on such research together with twelve Italian Universities and detailed different business models of fintech businesses pointing out their affinities and differences with traditional financial firms and elaborating a qualitative insight of the role of roboadvisors and algorithms for financial advisory services. The Italian regulator also analysed the new forms of scams and crimes related to this sector. This research also highlighted the uneven normative frame in Europe for the equity crowdfunding platforms and alternative credit channels.
The Italian Ministry of Economy and Finance also set a Committee for the coordination of the fintech sector to favour the introduction of innovative services and operating models in the sector of financial services (see here a previous post by BeBeez). The Italian Ministry of Treasury, the Bank of Italy, Consob, Ivass (the Italian watchdog for the insurance sector), Agcm (the Italian competition authority), Garante per la Protezione dei dati personali (the Italian watchdog for personal data protection), Agenzia per l’Italia Digitale (the Italian agency for the digital sector), and Agenzia delle Entrate (the Italian Inland Revenue) also joined such committee. The Italian regulators created this Committee with the aim of developing an ecosystem for fintech innovation.
Italian venture capital firms and angel investors weren’t quite active last week as just one deal was announced in the assistance to aged and sick people sector. Noon Care, an Italian startup that raised funds from business accelerator Dpixel, raised undisclosed financing from Barcamper Ventures, a fund that belongs to financial firm Primomiglio sgr (see here a previous post by BeBeez). Noon Care will allow carrying on remote assistance for aged and sick people. Adam James Cavallari founded the company and developed the platform on Azure, a technology that belongs to Microsoft. Genera Onlus, a social cooperative company that supplies assistance services to families, will experiment Noon Care in Milan. Italy’s insurance company Reale Group, developed through its subsidiary Blue Assistance few services for Noon Care. UGO, an Italian startup that supplies caregiver services joined this trial stage and started a collaboration with Noon Care, while Finnish HMD Global, the owner of the licence for producing smartphones and tablets with the brand Nokia, will supply devices.
