(Finance) – A study by the Bank of Italy on fintech sector found that between 2021 and 2021 investment spending in technologies innovative was equal to 600 million euros and estimated that it will arrive at 901 million during the two-year period 2023-2024. Further expenditure of 380 million is also planned starting from 2025, until the projects are completed. In total, the flow of investments associated with the projects surveyed will amount to 1.88 billion euros.
L”Fintech investigation into the Italian financial systemo” then underlined how spending on fintech projects is growing and in the two-year period 2023-2024 is equal to 3.8 times that observed in the two-year period 2017-2018. “The spending refers to 430 investment projects, 63 per one hundred of which are totally new and represent 56 percent of the expenditure – we read in the Bank of Italy report – and in the previous survey the weight of the new projects in terms of numbers and expenditure had been equal to 75 and 47 percent respectively “.
The investigation, however, noted that “the process of transformation digital of the financial system, although expanding, is quantitatively limited and polarized”. The business areas that attracted the greatest economic resources were those ofintermediation (43.7% of total investments) and of payments (39.4%). In particular, the contrast to recycling: “the share of intermediaries that employ or develop technologies to fulfill anti-money laundering obligations is high and increasing compared to the previous survey (from 62 to 80 percent)”.