During the meeting, FITD director Petrov presented the proposed measures for accelerated growth of the Macedonian startup ecosystem, and added that the FITD will be involved in drafting the development of the national strategy.

Moreover, they referred to opportunities for cooperation between the institutions in the coming period, in the field of innovations in the financial sector.

The activities of a fintech working group within the National Bank that established the so-called Innovation Gateway, a National Bank platform for communication with the innovative business community (fintech sector) and other relevant institutions, were also presented at the meeting.

Most of the requests for advice/consultation, received through the Innovation Gateway came from domestic companies that had presented specific business models, i.e. business ideas as well as requests from individuals. Also the entities that have contacted the National Bank through the Innovation Gateway are from abroad, which indicates the interest of the international fintech sector for potential foreign investments in our economy.

In addition, the National Bank survey and feasibility study for fintech development funded by European Fund for Southeast Europe – EFSE were conducted. EFSE listed the National Bank is a leader in the Western Balkans region in supporting fintech development. North Macedonia is the only country in the region whose central bank has mapped the fintech ecosystem.

As pointed out at the meeting, a few experts from the National Bank’s fintech working group have been involved in the working groups for financial innovations established by the Bank for International Settlements (BIS), which helps our central bank to monitor and participate in creating the latest international findings and fintech regulations.

Source: MIA