New Federation Unites Global Fintech Hubs
A new international network of fintech hubs aims to foster global cooperation for the development of fintech and give the emerging industry a collective voice. Dubbed the Global Fintech Hubs Federation (GFHF), the new group was formed by Innotribe—the innovation arm of global financial network SWIFT—and Innovate Finance, a fintech industry organization. The alliance currently counts among its members more than 20 countries, including Canada, China, Germany, Mexico, Switzerland and the U.K, with more nations expected to join in the coming months. The GFHF will offer its members an “influential point of engagement” with international fintech stakeholders and other industry organizations from around the world, and will facilitate access to important global fintech events, Innotribe said.
“Coordination and cross-border dialogue between emerging fintech startups, established fintech companies, financial institutions and policy makers remains key for long term success of our sector,” noted Lawrence Wintermeyer, CEO, Innovate Finance. “The launch of the GFHF will provide a platform for global fintech players and hubs to share knowledge and build an inclusive community network that will help accelerate the growth and influence of global fintech and help shape a better financial services future.”
The idea for the GFHF stemmed from Innotribe’s Sibos 2015 fintech conference, when a portion of the program was dedicated to the rise of global fintech hubs, including a session devoted to comparing eight fintech hub cities and giving representatives from each city’s fintech sector the opportunity to share their activities and goals. A new group of eight other fintech hubs will present at this year’s Sibos conference, scheduled to take place in Geneva on Sept. 26-29th.
The GFHF will publish its inaugural report later this year. Developed in partnership with Deloitte, the report will establish the 2016 baseline for more than 20 emerging and established fintech hubs, Innotribe said.