For the first time, BaFin has hosted a conference on the topic of fintech companies in order to exchange ideas and opinions with founders and company representatives. Around 200 conference participants made their way to the Frankfurt House of Logistics & Mobility (HOLM), including many fintech company representatives. Established financial services providers were also eager to gain insight into the diversity of the market, as were representatives from academia and politics. Two panel discussions and four thematic workshops provided an excellent setting for productive discussions and dialogue.

The first panel, in which both Felix Hufeld and Dr Esther Wandel from the Federal Ministry of Finance participated, dealt with the area of tension between regulation and digitalisation. In this discussion, Mr Hufeld made it clear that BaFin does not want to forestall the development of the market: "Regulation is adjustment, but we must also give companies the opportunity to develop and to grow". He emphasised his message about equal treatment in terms of supervision, i.e. "same business, same risk, same rules," while also making it clear that promising business models which fall below the threshold for supervision are also possible and welcome.

The second panel dealt with the topic of "Fintech companies – disruption or inspiration" and was also met with considerable interest.

In the workshops, the focus of the discussions was on current topics concerning blockchains, robo-advice, crowdfunding and alternative payment services.
In the time between the panels and workshops, participants had the opportunity to ask technical questions at BaFin's information stands – an offer that many of those in attendance were pleased to avail of.

In the late afternoon, Mr Hufeld said that intensive dialogue with the industry would continue and promised that BaFin would continue to sharpen its supervisory focus when it comes to the issues affecting fintech companies.