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Frankfurt FinTech Report #4

Joint Deutsche Bundesbank and Deutsche Börse blockchain prototype

Deutsche Bundesbank and Deutsche Börse jointly presented a functional prototype for the blockchain technology-based settlement of securities. The innovative prototype is designed to provide the technical functionality for the settlement of securities in delivery-versus-payment mode for centrally-issued digital coins, as well as the pure transfer of either digital coins or digital securities alone. In addition, it is capable of settling basic corporate actions such as coupon payments on securities and the redemption of maturing securities.

The Deutsche Bundesbank and Deutsche Börse plan to develop the prototype further over the next few months, and this product will then be used to analyse the technical performance and the scalability of this kind of blockchain-based application.

“Along with the Deutsche Bundesbank we are innovatively and creatively addressing potentially radical technological opportunities for the financial sector. We will continue to do our utmost to leverage blockchain’s efficiency potential and to better understand and minimise the associated risks of this technology,” added Carsten Kengeter, CEO of Deutsche Börse AG.

DVFA Offers Fit & Proper Training for FinTechs

DVFA has introduced a new training course, designed specifically for FinTechs. The “Fit & Proper” training aims to provide employees and managers in FinTech companies with sufficient experience and competence in the eyes of regulators. Topics covered include Financial Markets, Regulation, Governance and Controlling, and Strategic Management. The course is completely digital, lasts about 25 hours and will kick-off on January 27, 2017. Following the completion of the course work and a 90-minute exam, participants will receive a Certificate in Financial Markets Competence.

Frankfurt’s Tech Quartier Opens

On November 17, the Frankfurt FinTech community celebrated the opening of its new FinTech hub, Tech Quartier, which will soon be home to some of the area’s most innovative start-ups. The current space in the Pollux high-rise has 120 workplaces and an expansion onto a second floor is already planned. At the official opening, Tech Quartier’s Managing Director Dr. Sebastian Schäfer explained, “For the first time, Frankfurt now offers foreign FinTechs and Start-ups an attractive place to start their business in Germany and prepare for their entry to the European market.” The opening of Tech Quartier marks the culmination of nearly a year’s work from the Hessen Ministry for Economics and the FinTech Dialogue Forum, which was initiated by Frankfurt Main Finance. Financial support for Tech Quartier has come from a broad base of large banks and consulting firms. Platinum Sponsors include Commerzbank, Deutsche Bank, Deutsche Börse, DZ Bank, Helaba and ING-DiBa. Gold Sponsors are Sparda-Bank Hessen, Allen & Overy, EY, KPMG and PWC.

Frankfurt FinTech Report #2

Catch up on recent goings on in the Frankfurt FinTech Scene with the FinTech Report!

FinTech Bachelor Kicks Off at Frankfurt School and FinTech Group AG

The first group of students in Europe’s first dual Bachelor degree “Digital Innovation and FinTech” have begun their studies. The study program was brought to life by Frankfurt School of Finance & Management and the FinTech Group AG. Currently, students are in an orientation module at FinTech Group AG. During this period, they work with a mentor who guides them through work in various departments and projects in order to gain different perspectives on the diverse FinTech landscape and applications.

New Membership for FinTechs

Frankfurt Main Finance has introduced a new membership level, FinTech Member. As part of their ongoing effort to promote the FinTech scene in the Financial Centre Frankfurt, FMF hopes that this new membership will help to bring promising start-ups from all across Germany closer together with the established finance community. The first FinTech Member is Peermatch Management GmbH. Read more about the new membership level here.

Between the Towers

On October 4, 2016, main incubator’s monthly event, Between the Towers, took place at the Goethe University. This month’s speakers and pitches focused on blockchain technology. The evening’s keynote, Dealing with Disruptive Technologies: A Blockchain Case Study, was delivered by Philipp Harrschar and Daniel Scheu of Zühlke Engineering. This was followed by a panel discussion moderated by Sven Koschinowski of KPMG, sponsors of the event, with Frank Brigge of Commerzbank, Burkhard Blechschmidt of Cognizant, Johann Horch of niiio, Dr. Matthias Terlau of Osborne Clarke and Philipp Harrscharr. Before networking and discussing the night’s presentations over cold beers, the audience enjoyed pitches from Quantoz, Berries, Diversifaktor and Blockchain Helix. Between the Towers is held on the first Tuesday of every month and is one of the most popular, well-attended FinTech events in Frankfurt.