The Banco de Portugal is launching a public consultation today that will run until 21 November 2022 to gather the market’s input on the approach to be taken by the Bank in its interaction with innovation facilitators.

This consultation will serve as a basis for reflection on the Banco de Portugal’s strategic positioning towards the FinTech market, while fulfilling its tasks in the field of financial regulation and supervision and addressing the need to respond rapidly to the emergence of new products, services and business models.

This reflection is fundamental against the backdrop of a highly dynamic FinTech market, which challenges financial supervisors to closely monitor innovation by revisiting the supervisory tools and techniques used. 

Through its own action and within the scope of Conselho Nacional de Supervisores Financeiros (National Council of Financial Supervisors), the Banco de Portugal has promoted initiatives to engage and cooperate with market participants, to mitigate barriers to innovation in the Portuguese financial market and gain knowledge and experience in technological innovation, emerging business models and new services offered, to better play its role as regulator, supervisor and policy-maker in the financial sector.

Response to the public consultation

Interested parties should forward their comments in an editable format, using the consultation response form, by 21 November 2022 to pc_innov@bportugal.pt, with the subject “Response to Public Consultation No 8/2022”. 

The Banco de Portugal will only consider responses sent to the above email address before the deadline.

Any questions or doubts regarding this procedure should be forwarded to pc_innov@bportugal.pt.

The Banco de Portugal may publish the comments received under this public consultation. Respondents who do not authorise full or partial publication of their comments should mention this in their response.