No. 96 - Exploring fintech innovation facilitation at central banks: the case of Milano Hub

Markets, Infrastructures, Payment Systems
by Matteo Amoroso, Andrea Azzola, Camilla Bignotti and Lorenza Masoero
October 2026
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Banca d'Italia is among those Central Banks that have set up Innovation Facilitators to dialogue with the fintech ecosystem. Using data from application forms and other complementary sources, we conducted an empirical analysis of the human capital involved in the projects submitted in response to the three Calls for Proposals (CfPs) launched by Banca d'Italia's innovation center, Milano Hub. Consistently with the broader Italian landscape, project proposals to Milano Hub involve a greater proportion of experienced individuals than new graduates, a prevalence of backgrounds in economics and STEM subjects, and a substantial gender gap. Linear regression reveals that work experience and STEM education appear to be positively associated with the outcomes of the projects' evaluation in the CfP context. The aim of this study is to initiate a discussion within Banca d'Italia on how to improve, when necessary, fintech facilitation policies and operational models. These findings are also intended, more broadly, to guide Central Banks in positioning their Innovation Facilitators to attract and boost fintech ventures.

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  1. 12 October 2026
    No. 96 - Exploring fintech innovation facilitation at central banks: the case of Milano Hub
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