Euskadi free of tobacco smoke

The Basque Government participates in the III International Fintech Meeting held this week in Bilbao and where a challenge to be solved on sustainable bonds is posed

2023 July 10

The Basque Government, through the Department of Economy and Finance, is this week taking part in the III International Fintech Meeting Hack&Disrupt!, the most important fintech and insurtech event of the financial sector in the Basque Country. This meeting seeks to promote education and financial innovation and will be held over two days, in the BAT-Bilbao Tower. It combines the resolution of challenges by the participants registered in the Hackathon (Wednesday, July 12) with an institutional day (Thursday, July 13) with high-level speakers taking part in conferences and round tables.

The III Meeting Fintech Hack&Disrupt! is organized by BME together with the University of Mondragón, through the BBF Fintech incubator, and is collaborating with the City Council of Bilbao, the Provincial Council of Bizkaia, BBK Foundation, Bilbao Financial Plaza and the Basque Government. FinTechs are companies that use advanced digital technologies to optimise financial services and other industries, while Insurtechs are only focused on the insurance sector. Both seek to create more open and democratic markets, increase profitability and improve the customer experience.

The first day will revolve around a challenge raised about the Basque Government’s Sustainable Bonds, bearing in mind that a "hackathon" is a meeting of programmers in which it is sought, through their collaborative work, to respond to a challenge or technical problem of an organization in record time. This answer will be a solution in the form of a finished prototype for an innovative model.

The Basque Government began its sustainable financing strategy in 2018 when it launched its first sustainable bond on the understanding that this was the way to go. Sustainable bonds are the most appropriate tool to finance the Basque Government’s debt. Today the sum total of the 7 issues of sustainable bonds is 4.4 billion euros. In the Basque Country we need to reinforce our investment effort which is present in our social and political commitment, our annual budgets and in a rational, adjusted and sustainable financial management model in the long term,”underlines Arantza Larrauri, Director of Financial Policy of the Basque Government.

The programme on the 13th will start with the opening by Javier Hernani, CEO of BME, Javier Garcinuño, general director, Bilbao Ekinza and Ainara Basurko, provincial deputy of the Department of Economic Promotion. José Manuel Marqués, Director of Financial Innovation at the Bank of Spain, will continue with a presentation on the challenges of digitalisation in Spain. Next, there will be a discussion round-table with representatives of BME Inntech, Kutxabank and Norbolsa, moderated by the director of Torre BAT.

Eva Popcheva, Member of the European Parliament and Vice-President of the Committee on Economic and Monetary Affairs, will then speak, followed by a debate on innovation, technology and regulation, with Kreab, FinReg360, BME Growth and Veltis Rating participating. After the participation of Asier Quesada, Fintech coordinator of the University of Mondragón, Arantza Larrauri, director of Financial Policy of the Basque Government, will take the floor. Next, some time will be dedicated to analysing the success stories of the previous round.

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