First published on
04 February 2020 (last update on: 12 June 2020)
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digital finance outreach closing event

The Digital Finance Outreach 2020 is a series of events organised in collaboration with the Member States in February-June 2020 on fintech and digital innovation in the financial sector to prepare the new EU digital finance strategy.

Objectives

These events would be an opportunity to learn about the best practices applied in these local ecosystems but also the challenges that they are facing – for example when seeking to expand beyond their national borders.

This will be an occasion to:

  • Meet the key stakeholders in digital finance around the EU;
  • Create awareness around the Commission’s ongoing and forthcoming work on digital finance;
  • Generating publicity to stimulate responses on the current and upcoming public consultations;
  • Create more collaboration between the various EU fintech hubs in line with the Commission's priority in creating a single market for digital finance.

Events

FISMA online roundtables

National events

Online closing conference

#EUvsVirus challenge

Can you hack it?

The European Commission, in collaboration with EU member states hosted a pan-European Hackathon on 24, 25 and 26 April 2020 to connect innovators, partners and buyers across Europe to develop innovative solutions for coronavirus-related challenges.

One of the challenge domains of the hackathon was Digital Finance, including the following challenges:

1.    Support identification of financial shortfalls
The challenge is meant to supporting short term identification and analysis of businesses’ financial shortfalls and needs, in particular for SMEs, through data analytics/open data.

2.    Speed-up access to financial support
The challenge is meant to find solutions to enabling speedy access to public financial support by SMEs, self-employed, citizens.

3.    Speed-up distribution of financial support
The challenge is meant to find solutions to quicker distribution of public financial support via digital money/transfers.

4.    Availability of emergency health insurance
The challenge is meant to find solutions to ensure an emergency Coronavirus health Insurance .

5.    Enable crowd to help financially
The challenge is meant to crowdfund to support the fight against Coronavirus such as the provision of medical equipment to local hospitals.

6.    Support for digitally excluded
The challenge is meant to find solutions to provision of essential digital finance tools to the digitally excluded such as the elderly and homeless.

7.    Other
The above challenges are just suggestions. Feel empowered to get creative!

Congratulations to Bankera Business Care (Lithuania), whose solution to provide SMEs with short-term financing to cover their liquidity needs during times of crisis, has been selected as winner of the Digital finance category.

A total of 117 innovative solutions to tackle the coronavirus have been selected as winners of the EUvsVirus Hackathon.

See the full list of winners and prize allocations.

Winners were invited to a Matchathon that took place from 22 to 25 May on the new European Innovation Council COVID Platform. The purpose of this online event was to facilitate match-making with end-users, such as hospitals, and to provide access to investors, corporates, foundations and other funding opportunities from across the EU.

Digital solutions on digital finance

If you have a digital solution on one of the above topics that you would like to share with other professionals across EU, you can send your solution to: fisma-digital-finance@ec.europa.eu

We will then upload your digital solution to the Commission’s Joinup collaborative platform.

Related information