You are here

Fintech +

The Banco de Portugal provides a contact channel on this page to answer questions on innovation in financial products and services. It also provides relevant information in this field.

As national supervisory authority, macroprudential authority and payment systems overseer, the Banco de Portugal keeps track of financial innovation developments:

  • It partners with the relevant national and international entities to develop financial services regulation, namely the National Council of Financial Supervisors, the European Banking Authority, the Single Supervisory Mechanism and the European Systemic Risk Board;
  • It encourages and takes part in debate on the risks and opportunities that technological innovation — for example, artificial intelligence, the technologies behind crypto-assets and the use of large volumes of data (big data) — creates within the scope of financial services;
  • It assesses the impact of digital transformation on internal organisation and processes, with the goal of increasing effectiveness and efficiency in carrying out its mission to safeguard financial stability and price stability;
  • It keeps track of the technological developments linked to financial compliance, commonly known as RegTech, including prevention of money laundering and terrorist financing.

Contact Us

Send your information request via the contact webform.

What is ‘fintech’?

According to the Financial Stability Board’s definition, ‘fintech’ refers to technologically enabled innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on the provision of financial services.

'Fintech' may refer to entities that operate in the financial sector and that have business models based on innovative technologies. It may also refer to the technologies themselves, applied to financial services and used by those entities or traditional financial system participants as banks and payment institutions.

'Fintech' is a portmanteau word formed from the phrase 'financial technology'.

Portugal FinLab

Portugal FinLab is a communication channel between innovators and the three Portuguese financial supervisors – the Banco de Portugal, the Portuguese Insurance and Pension Funds Supervisory Authority and the Portuguese Securities Market Commission. This channel aims to support the development of innovative projects in FinTech, InsurTech and RegTech by answering regulatory questions posed by those authorities so as to ensure the projects comply with the applicable regulatory framework.

Any innovative project can apply to Portugal FinLab. The projects that fall within the competence of at least one authority are invited to pitch. Subsequently, the authorities select a number of projects for detailed analysis, in report format, of the main applicable regulatory requirements and potential obstacles to the project’s implementation.

References and other links

At national level

At European level

European legislation

Global initiatives