Refink Launches Platform to Help Fintech Startups Join the Sandbox

Refink, the regtech initiative promoted by the Annunziata&Conso network, launches the first web platform to support access to fintech channels promoted by the Supervisory Authorities.

The objective is to receive and select on its web platform the requests of fintech and innovative companies, both Italian and foreign, that want to be assisted in the development and implementation phases of organizational and regulatory in order to access regulated markets and an adequate interlocution with the Supervisory Authorities.

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No more than 10 players will be accepted by Refink in the first window

Last November 15th, the first time window opened for the submission of applications for admission to the regulatory sandbox for fintech, which will close next January 15th, 2022, as established by the Bank of Italy, Consob, and IVASS, following the entry into force last July of the Decree of the Ministry of Economy and Finance last April 30th, 2021, no. 100, which regulates the procedures for carrying out the experimentation in Italy of techno-finance activities.

Refink, an advisory company with a focus on fintech and regtech, dedicated to the new innovative realities entering the market, had been launched by the professional network Annunziata&Conso, founded by Filippo Annunziata and Andrea Conso, last March.

No more than 10 players will be accepted by Refink in the first window, possessing a high potential for innovation and integration for the financial market. An advisory board, whose members are exponents of important tech companies and the world of finance, will collaborate in the evaluation of the projects also from an entrepreneurial, technological, and financial point of view.

In particular, the intent is to support the new companies/initiatives, offering them a support path with suggestions on regulatory compliance issues, for the development of a preliminary feasibility study and the preparation of the business plan, as well as advisory services in the search for possible funding, providing a reasoned guide to successfully access the fintech channels promoted by the Supervisory Authorities.

Donato Varani, partner of Annunziata&Conso., commented: “Our platform, the first in Italy, is a useful and concrete operational tool to allow selected technologically innovative companies to interact with the Authorities and access the channels promoted by them in order to successfully test their business. The intent that has guided us in the launch of this initiative stems from the experience gained so far in accompanying fintech initiatives in the early stages of their life, helping them to manage the most delicate legal aspects, regulatory compliance, and organizational development, including in the dialogue with the Authorities”.

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(Featured image by StartupStockPhotos via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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