Barriers to FinTech Innovation in The Netherlands – Report

Holland Fintech will engage with members of parliament in a public round table session on Fintech, at the Dutch Parliament today.

Subject of the engagement will be the results of the research Holland FinTech has conducted in collaboration with Roland Berger, Rabobank and ING. The research method combined interviews with experts with a diverse background, complemented with a survey conducted among FinTech companies, investors, experts and innovation managers. The conclusion is that right now there are three main barriers: dated regulations, insufficient knowledge on the side of the supervisors and flawed collaboration between various Fintechs, corporate financials and the government. Dutch regulations, among the more strict in the European Union, take a long time to process, which is not beneficial to start-ups whose short time-to-market is essential to succeed. Next to this, many Fintechs cannot be labelled as either bank or insurer, making it even harder to obtain the required permits.

Holland FinTech has been working on collaboration and knowledge sharing for over a year, but would especially like to engage the government better. Therefore, Holland FinTech has created a Fintech Manifest for the Netherlands, stating what policy actions the Fintech ecosystem need from politicians, starting with a clear vision and ambition on the role of Fintech in the Netherlands. The goal of the manifesto is to share the Holland Fintech vision on the landscape of financial innovations and highlight its importance in the future economy to politicians. Fintech should be on the political agenda from an economic perspective; collaboration between Fintech, government and business will be beneficial to all.

The Netherlands have a great base to play an important role in the development in Fintech, contribute to a secure and trustworthy financial ecosystem and make sure there is access to the best tools to allow the economy to grow.

Download or view the report here

Author: Jason Williams

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