On October 22, 2024, Stefan Nistor, Founder and Coordinator of Fintech Moldova, took center stage as a panelist at the FinWeek 2024 event in Bratislava. The panel discussion, titled “Europe at Heart: Building Fintech Valley Europe,” brought together fintech leaders from across Central Europe to explore how the region can transform itself into a global fintech powerhouse.
Strength in Collaboration
The conversation, moderated by Martin Jesný, emphasized the importance of collaboration among Central European nations. Stefan Nistor joined a distinguished lineup of experts, including representatives from Slovakia, Poland, Hungary, Ukraine, and the Czech Republic, to address critical opportunities and challenges in the regional fintech landscape.
“Collaboration between Central European countries can strengthen their voice in European regulation and support the emergence of Fintech Valley Europe,” stated Martin Peter, Head of the Banking Department at Slovakia’s Ministry of Finance. Nistor echoed these sentiments, underscoring the role of regional partnerships in positioning Central Europe as a competitive fintech hub.
Key Contributions by Fintech Moldova
Representing Moldova, a country making significant strides in digital transformation, Nistor highlighted the following key points during the discussion:
- Cross-Border Cooperation:
- Nistor emphasized the need for enhanced AML/KYC collaboration across Central Europe to bolster trust and streamline financial services. Moldova’s expertise in implementing digital solutions can serve as a model for other emerging markets in the region.
- EU Integration and Open Banking:
- He advocated for the accelerated adoption of open banking frameworks, which can create new opportunities for financial inclusion in emerging markets. Moldova’s progress in open banking and its alignment with EU standards are vital contributions to this goal.
- Post-War Reconstruction in Ukraine:
- Reflecting on Ukraine’s ongoing recovery, Nistor highlighted the immense potential for fintech to drive economic regeneration and cross-border cooperation. He stressed the importance of involving neighboring countries, including Moldova, in initiatives that promote financial innovation.
Insights from the Panel
The discussion also covered a wide array of topics, including:
- Digital Euro and CBDCs: Experts debated the implications of a digital euro for financial stability and innovation in Central Europe.
- Visibility and Representation: Panelists agreed on the urgent need to raise the profile of the Central European fintech sector within broader European and global conversations.
Why This Matters
As the fintech sector continues to evolve, Central Europe’s ability to unite under a shared vision will be pivotal in shaping its global competitiveness. Moldova’s participation in FinWeek 2024 is a testament to its growing role in regional fintech development. By fostering collaboration, championing innovation, and advocating for EU integration, Fintech Moldova is not only contributing to the creation of a Fintech Valley Europe but also ensuring that Moldova has a seat at the table.
What’s Next for Fintech Moldova?
With its active involvement in events like FinWeek and its ongoing initiatives to support financial innovation, Fintech Moldova continues to position itself as a regional leader. As Moldova strengthens its connections with neighboring countries and aligns with EU standards, it stands ready to play a key role in shaping the future of fintech in Central Europe and beyond.
About FinWeek 2024
FinWeek 2024, hosted in Bratislava, brought together fintech leaders, policymakers, and innovators from across Central Europe and Asia. The event’s discussions focused on cross-border collaboration, digital transformation, and the creation of a robust fintech ecosystem in the region. This year’s theme, “Europe at Heart: Building Fintech Valley Europe,” served as a rallying call for unity and innovation in the fintech space.
