Fintech and insurtech's upcoming trajectory: balancing sustainability, advancement, and digital clientele
The Politecnico di Milano Observatory recently held its annual conference, focusing on digitalization, sustainability, and the role of startups in the financial sector. Here are some key takeaways from the event.
Digitalization and Skills Development
One of the main topics of discussion was the importance of enhancing digital skills among citizens and public sector employees. With the rise of flexible work modes like Smart Working, it's crucial to measure and improve digital skills. The conference highlighted research on the evolution of digital skills, the impact of training policies, and the barriers to digital adoption. A planned statistically representative survey of Italians and civil servants aims to assess digital skill levels and the effectiveness of training.
Sustainability and Innovation
The conference linked digital transformation closely with sustainability, focusing on sustainable innovation models in industries such as packaging and manufacturing. The emphasis was on digitalization, AI integration, and organizational models that promote sustainability in production processes. The conference also highlighted the importance of securing future innovation through technological hubs combining AI, data management, and cybersecurity to ensure operational continuity and resilience.
Startups and Entrepreneurial Finance
The conference recognised the role of startups, particularly in relation to public policies supporting their internationalization and the integration of emerging technologies such as Generative AI. The entrepreneurial finance focus underscored the transformative potential of startups driven by innovation and supported by government-accelerated programs, which foster international growth and higher productivity.
Policy and Practical Impact
The event underscored the practical relevance of policy-supported entrepreneurship and innovation financing. This includes facilitated and subsidized finance schemes to overcome budget constraints for digital and sustainable projects, aligning with broader EU and national policy strategies to scale emerging technologies and innovations.
Balancing Sustainability, Digitalization, and Customer Focus
Balancing sustainability, digitalization, and customer focus will be key to prospering in a constantly evolving world. Overcoming reluctance to share personal data requires trust, which can be built through transparent communication and demonstrating benefits for customers.
The Italian Fintech Landscape
The Italian Fintech landscape is more vibrant than ever, with 596 operational entities and 250 million euros raised in 2024. Many startups collaborate with traditional banks and insurers, creating ecosystems where innovation thrives.
Regulations and Digital Resilience
New regulations like DORA (Digital Operational Resilience Act) and FIDA (Financial Data Access) are designed to strengthen digital resilience and improve access to financial data. The conference emphasized the importance of document archiving in compliance with regulations, client onboarding digitalization, EDI, electronic invoice platform, international electronic invoicing, corporate electronic signature, electronic seal, document management software, and supply chain management for the digital transformation of businesses.
In summary, the conference showcased a multidisciplinary approach combining advanced digital skills research, sustainability-driven innovation, and startup ecosystem strengthening through policy and financial support, emphasizing their intertwined roles in shaping the future of the financial and industrial sectors. Corrado Passera, who spoke at the conference, believes entities will be better prepared for future challenges. The future of Fintech and Insurtech depends on the ability to bravely tackle global challenges and seize the opportunities offered by innovation.
Business and finance sectors are significantly impacted by technology, as highlighted during the Politecnico di Milano Observatory's annual conference. The conference underlined the crucial role of startups in driving innovation in finance, particularly with the integration of emerging technologies such as Generative AI. Additionally, the Italian Fintech landscape is thriving, with a growing number of startups collaborating with traditional financial institutions to create vibrant ecosystems that foster innovation.
