Dr. Marc Roberts
General Counsel and Co-President of the EFA

Dr. Marc Roberts has been General Counsel since 2017 of one of the biggest German FinTechs Raisin that aims to revolutionise the savings and investment market. He is Co- President of the European FinTech Association (EFA)

that gives innovative businesses in finance a voice in the

European space. Prior to joining the deposits specialist Raisin he was Senior Associate at the German law firm Hengeler Mueller where he specialised in compliance and corporate law as well as Cravath Swaine & Moore (New York).

Intro to the International FinTech Review

Dr. Marc Roberts, General Counsel at Raisin and Co- President of the European FinTech Association.

The last year was quite turbulent for FinTechs. War in Ukraine and the middle-east caused uncertainty, economic distress and decade high inflation causing a turnaround in key interest rates. For FinTechs, these shifts in the economic environment led to a change in not only fundraising conditions, but also in the entire market environment and expectations of investors. Today, after years of hypergrowth, FinTechs adapt and change their focus from maximised to sustainable and profitable growth.

Although conditions clearly got more challenging in recent times, FinTech remains one of the most prominent industries in our world. There are lots of reasons to be optimistic for the future. Independent research shows that revenues in the fintech industry are expected to grow almost three times faster than those in the traditional banking sector between 2023 and 2028. Looking ahead, the fintech industry will not only face challenges but also several opportunities yet to be unlocked. No matter whether it is the use of artificial intelligence or the slowly but surely adapting regulatory environment.

Together with all members of the European FinTech Association, we are specifically looking forward to the implementation of three policy fields. With initiatives in the Digital Finance space we are hoping for a move from open banking to open finance with clear rules on the

sharing of data, increasing participation of retail investors with more accessible and inclusive investing services and digital identification solutions. However, they should also take into account current set-ups such as platforms offered by FinTechs.

Digital Payments are the key to ensure the completion of a EU wide digital single payments market. Participation of FinTechs in policy making here is crucial for an innovative and open, interoperable payment infrastructure that promotes competition for the benefit of all European consumers and SMEs.

Another key policy field is Anti-Money-Laundering. We are very happy that multiple initiatives are currently being discussed and implemented since there is a huge need for

harmonisation of AML rules across Europe. The unification will strengthen the Single Market by making it more straightforward for innovative European companies to scale their products and services across jurisdictions. To further foster accessibility, companies should be able to

leverage innovative technologies, such as remote onboarding and machine learning, allowing them to make customer due diligence more effective and more efficient.

With sensible regulation, ambitious goals, and a competitive industry, I am convinced that FinTech will thrive further and will remain one of the fastest growing industries.