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Fintech and Digital Finance

Fintech, short for ‘Financial Technology’ refers to the use of innovative technology to deliver financial services and products to the industry sector and it’s consumers.

Ireland has a thriving fintech ecosystem with a proven record of achievement in both the financial services and technology sectors. The ‘Ireland for Finance’ strategy includes a series of actions to support our fintech sector, including various supports for ambitious early stage fintech innovators expanding into international markets. These supports include the Enterprise Ireland Pre-Seed Start Fund (PSSF) and High Potential Start-Up (HPSU) funding designed to accelerate the growth of early-stage start-up companies that have the capacity and ambition to succeed in global markets. IDA can also offer significant financial support to companies looking to deepen and scale their research and development activities in Ireland.

Ireland’s enterprise agencies, Enterprise Ireland and IDA Ireland, work closely with Government to assist in fostering growth and innovation and attracting inward investment in the fintech sector.

Enterprise Ireland

Enterprise Ireland is the State agency responsible for the development and growth of Irish enterprises in world markets.

Enterprise Ireland is one of the most active investors in start-ups in the world, with a portfolio of over 200 fintech and financial services companies.

Enterprise Ireland helps these companies expand into new geographical markets worldwide.

IDA Ireland

IDA Ireland supports a range of overseas companies from small high growth businesses to large multinationals using Ireland as their base to service EU and global markets. .

IDA Ireland has over 350 client companies within its international financial services portfolio. IDA Ireland offers a range of services and financial incentives for international financial services companies to support their adoption of digital technologies to drive competitiveness, enhance customer engagement and develop new innovative capabilities.

Central Bank of Ireland

Ireland’s fintech sector also benefits from the presence of an internationally respected regulator in the Central Bank of Ireland (Central Bank).

The Central Bank is responsible for the regulation and supervision of the financial institutions in Ireland, maintaining monetary and financial stability while ensuring that the financial system operates in the best interests of consumers and the wider economy.

The Central Bank has displayed its commitment to the development of an innovative and resilient financial sector by setting up an Innovation Hub in 2018, which provides an opportunity for innovators to engage with the regulator.

Innovation Sandbox programme

In December 2024, the Central Bank also established an Innovation Sandbox Programme, which will inform the early stage development of selected innovative initiatives by providing regulatory advice and support within the programme. The theme of the first Innovation Sandbox Programme is:

“Combatting Financial Crime – Through the use of innovative technology, foster and develop innovative solutions that minimise fraud, enhance KYC/AML/CFT frameworks, and improve day-to-day transaction security for consumers.”

The programme will encourage collaboration across the ecosystem to support the fight against financial crime. The programme aims to facilitate the development of new ventures and new business models that solve challenges identified in this sandbox theme and facilitate the faster and safer deployment of substantially new technologies, products, or services.