Milano Hub: the Bank of Italy's new innovation centre

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Milano Hub is the Bank of Italy's new innovation centre supporting the digital evolution of the Italian financial market and attracting talent and investment.

Milan was chosen as the seat of the new innovation hub owing to the significant number of banks, investors and researchers based there, and for its great ability to engage in dialogue at European and international level. The centre will soon become a driver of quality and excellence for the various areas of our country.

Milano Hub will target the private sector and will be the physical or virtual location in which the Bank of Italy - in full compliance with its institutional roles - will assist the various operators, collaborate in the development of projects, and facilitate the quality and security assessment of specific innovations.

The objective is to support the adoption of digital technologies in the Italian financial market and encourage their safe use with a view to preserving financial stability and avoiding the adoption of risky and potentially dangerous solutions. The Hub is also intended to strengthen banks' ability to respond to the challenges posed by digitalization in terms of costs and services provided. The projects submitted by the private sector will be selected based on transparent and pre-determined criteria, to be incorporated in both their design and development, and special attention will be given to their potential impact and practical application. This will be done by seeking the contribution of groups of independent experts, universities, and the financial and non-financial industries.

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FinTech Channel

FinTech is the abbreviation for Financial Technology, namely the application of technology to the delivery of financing, payment, investment and consulting services, which has become a powerful driver of innovation in the financial services market.