The Bank of Italy hosted the closing meeting for the support activities linked to the third FinTech Milano Hub call for proposals, concluding a six-month programme for 11 selected projects focused on instant payments and wider digital payments innovation in banking, financial and insurance services. The event shared lessons from the support process and highlighted common challenges for operators seeking to launch initiatives in the payments ecosystem. The programme emphasised the importance of a systemic approach to payment solutions spanning both traditional and emerging instruments, including electronic money tokens, and the need for broad collaboration among market participants to implement the open banking paradigm and progress towards open finance, where practical and operational challenges remain. It also indicated that payments-led innovation may require adjustments to other regulatory frameworks, such as tax rules, and gave the Bank a close view of new product and service development to help detect emerging trends and market directions.
Bank of Italy 2025-10-31
Bank of Italy closes FinTech Milano Hub third call support programme for 11 instant and digital payments projects
The Bank of Italy concluded its six-month FinTech Milano Hub programme, supporting 11 projects focused on instant and digital payments innovation. The initiative underscored the need for a systemic approach to payment solutions and collaboration among market participants to advance open banking and finance. It also highlighted potential regulatory adjustments, such as tax rules, to accommodate payments-led innovation.