current News

Establishment of the EU Anti-Money Laundering Authority in Frankfurt sends a strong signal against financial crime and for fair competition

NRW Jürgen Schnitzmeier, spokesman for the working group of German financial centers Germany Finance, welcomes the establishment of the European Anti-Money Laundering Authority in the financial center Frankfurt am Main: „Effective control and combating of money laundering and financial crime is an important prerequisite for fair competition and successful financial and investment locations. Against this background, the decision of the EU Parliament and the Council of the European Union to establish the new Anti-Money Laundering Authority in the financial center of Frankfurt am Main is a clear signal against the increasing illegal practices and for strengthening Germany as an international financial center. Particularly against the backdrop of the necessary transformation of the economy and th

Feb 19 2024

Financing

2024 will be the year of transformation (-financing)

NRW „Germany is in bad shape,“ states Arndt Kirchhoff, NRW employer president. The latest survey of companies from the Düsseldorf and Middle Lower Rhine Chamber of Industry and Commerce shows that around a third fear a deterioration in business expectations. The economic forecasts also give little hope of an imminent recovery. The uncertainty among entrepreneurs means that demand for loans is lower than it has been for a long time. However, the situation is not (yet) as bad as the mood. Companies‘ liquidity is generally good, banks are ready to provide financing and politicians have started to take action. Despite all the challenges facing the economy, progress is being made – albeit slowly, but noticeably. A lot depends on what we decide now: Take action and seize our opportunities, or conti

Feb 16 2024

Transformation financing 2024 in the focus of Germany Finance

NRW The working group of German financial centers Germany Finance looks back on a successful year and is focusing on financing the digital and ecological transformation in 2024. This year, the spokesperson role has rotated from the financial center Frankfurt to North Rhine-Westphalia. The baton was passed from Andreas Glänzel, Managing Director of the financial center initiative Frankfurt Main Finance, to Jürgen Schnitzmeier from Fin.Connect.NRW and Managing Director of ZENIT GmbH. The aim of Germany Finance is to increase the attractiveness and diversity of Germany as a financial center and to initiate and communicate joint activities. The respective spokesperson of the initiative is the first point of contact for all questions regarding the initiative and coordinates the activities of the

Aug 24 2023

Human Resources

Putting more financial education on the political agenda

Germany Finance More than 80 percent of investors are in favour of state-organised financial education – this was the result of the current online survey Trend of the Month in August, which DDV conducted together with several high-reach financial portals. While almost half of the respondents were in favour of a comprehensive and provider-independent state financial education concept (49.4 percent), just under a third were in favour of state-organised basic education and see in-depth and further education as individual tasks (32.4 percent). Almost one fifth is of the opinion that the private sector already provides financial education and training to a sufficient extent (18.2 percent). „Structured securities can play an important role in asset accumulation, preservation and protection. But only well-inform

Jul 13 2023

FACTS AND FIGURES ON GERMANY AS A LOCATION FOR SUSTAINABLE-FINANCE

Germany Finance Europe is the global pioneer market for sustainable finance. The volume invested in sustainable finance in Europe is about ten times as large as in the United States of America. Germany is unquestionably one of the leading European financial centres for sustainable finance. This is confirmed by the results of the study „Zahlen, Daten, Fakten zum Sustainable-Finance-Standort Deutschland“ (Germany only)*. Five facts on Germany as a location for sustainable finance (derived from the study): After the USA and China, Germany has the largest share of green IPOs worldwide in the last ten years. Almost three out of four green IPO activities take place in these three countries. With a share of 8.6% of the total national green IPO activity, Germany has been a global leader in the past ten years. Wi

May 22 2023

Sustainable Finance Summit 2023 in Germany’s financial centres

Germany Finance The Sustainable Finance Summit Germany, the signature event of the Green and Sustainable Finance Cluster Germany (GSFCG), comes in a new format in its seventh year. Instead of a one-day conference in Frankfurt am Main, this year’s summit will take place between 6 and 16 November as part of various events at different locations in Germany. The cooperative summit concept is organised and supported by various initiatives and actors – all of whom have one thing in common: they are working hard to shape and finance economic structural change in order to ensure sustainability and thus future viability. In recent years, the issue of sustainable finance, i.e. the targeted use of the potential of the financial system for a consistently sustainable orientation of our economic value creation, has ste

Apr 26 2023

German Supply Chain Act: How to Navigate Supply Chain Regulation

Germany Finance The German Supply Chain Due Diligence Act came into force on January 1 2023. Companies based in Germany that have 3,000+ employees are affected by the act, which requires that they ensure environmental and social standards are observed throughout their supply chains and their own operations. This year, some 900 companies are affected. From the start of 2024, the act will apply to companies with 1,000+ employees, affecting a further 2,900 organizations. Many countries around the world have legislation that affects supply chains, such as the UK’s Modern Slavery Act and the Corporate Duty of Vigilance Law of France, and further such legislation looks likely. Last year, the European Commission presented its plans for the Corporate Sustainability Due Diligence Directive. This would requir

Mar 14 2023

ESG study: Big ambitions, little drive

Germany Finance Globally, companies are setting ambitious ESG targets, but only 6 percent are fully implementing the measures required to achieve them. Most companies (53 percent) are still at a relatively early stage of ESG transformation, implementing only basic measures such as offsetting carbon emissions with carbon credits. These are the findings of the “ESG Empowered Value Chains 2025” study, for which the auditing and consulting firm PwC Germany (PwC) surveyed more than 900 executives worldwide on the status quo of their ESG transformation. The study suggests that many companies are struggling to implement measures, some of which are complicated and difficult to measure, such as redesigning products or improving diversity and inclusion. Meanwhile, a small group of advanced companies, which th

Feb 17 2023

Financing, Sustainability, Innovation

CxO Sustainability Survey 2023: More investments in sustainability despite economic uncertainty

Germany Finance For board members of German companies, climate change is one of the top three priorities in 2023. Only future economic development and innovations are seen as more pressing, with supply chain problems coming in a close second. This is followed by a shortage of skilled workers and geopolitical conflicts. Internationally, climate change is the second most pressing challenge. This is one of the findings of Deloitte’s CxO Sustainability Survey 2023, which was presented at the annual meeting of the World Economic Forum in Davos. More than 2,000 C-level executives worldwide were surveyed in the fall of 2022, including 105 from Germany. Although top managers in Germany attach slightly less importance to climate change than the global average of respondents, the issue is highly relevant to them.

Jan 19 2023

Transformation Finance News

NRW With the sustainable, climate-neutral and digital transformation and its financing, our economy is facing major challenges. In view of the necessary scale of investments, the central problem of transformation financing is that private capital is actually invested here. For this to happen, investors and capital seekers must find each other and the networking and financial ecosystem must be improved. Our financial centre initiative with its focus on transformation financing serves this purpose. It brings together the banking industry, insurance companies, private equity, stock exchanges, companies and academia and mobilises more capital and awareness for the transformation. FinTechs and InsurTechs complement the solution approaches. For the financial centre and business location, the

Jan 13 2023

Location factors, Human Resources

Frankfurt Main Finance assumes spokesman role at Germany Finance

Germany Finance Since its foundation in 2021, Germany Finance has established itself as a working group of German financial centers. The role of spokesperson will be handed over from Hamburg to Frankfurt as planned for 2023. Frankfurt am Main – As of January 1, 2023, the Frankfurt financial center has taken over the role of spokesperson for Germany Finance and is thus the contact for all contact inquiries. Last year, this role was held by the Hamburg financial center. The spokesperson role of Germany Finance rotates annually among the members of the initiative. The Germany Finance initiative looks back on a successful 2022. Among other things, the HSBA Hamburg School of Business Administration was commissioned to conduct a study on Germany as a sustainable finance location in comparison with other Europea

Nov 16 2022

Economic education: Does Germany need detention?

Germany Finance Rarely has a fundamental understanding of economic interrelationships been as important as it is today. Economic skills form the basis for a self-determined life in an increasingly complex society. But where does one learn economics? And should economic education start at school? Rising inflation, volatile stock markets and a negative interest rate trend are just a few aspects that are currently shaping economic reporting. „In the current inflationary environment, it is more important than in past decades to have a basic understanding of interest rates, inflation but also risk,“ says Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank, at the general meeting of Frankfurt Main Finance e.V.. Economic competencies form the basis for a self-determined life in an increasingl

Oct 05 2022

Financing, Sustainability, Event

Event am 19. Oktober 2022: „Die Chancen der Verbriefung für die Transformations-Finanzierung der Wirtschaft in NRW“

NRW Die Transformation der Wirtschaft hin zu Nachhaltigkeit und Klimaneutralität erfordert hohe Investitionssummen, die durch einen breiten Mix an Instrumenten von verschiedenen Kapitalgebern finanziert werden müssen. Der Kreditvergabe durch Banken und Sparkassen sind durch regulatorische Anforderungen und interne Risikoerwägungen Grenzen gesetzt. Daher ist zu überlegen, wie die Bankbilanzen von Risiken entlastet werden können, um zusätzliche Potentiale für die Transformations- und Innovationsfinanzierung zu erschließen. Qualitativ hochwertige Verbriefungen können eine Option sein. Das Instrument ist am Kapitalmarkt erprobt, erscheint aber auch komplex. Welche Anforderungen für Emittenten und Investoren sind bei Verbriefungen zu beachten? Welche Chancen, welche Risiken könn

Jul 20 2022

Financing, Sustainability, Event

Die Bedeutung des europäischen Kapitalmarktes für die Transformation der Wirtschaft in NRW: Workshop am 24.08.2022

NRW Die Transformation der Wirtschaft in Nordrhein-Westfalen hin zur Nachhaltigkeit erfordert große Investitionen, die durch einen breiten Mix an Partnern finanziert werden müssen. Mit Fin.Connect.NRW ist ein Netzwerk entstanden, das Finanzinstitutionen und Unternehmen der Realwirtschaft zusammenführt und neue Möglichkeiten der Transformationsfinanzierung eröffnen soll. Initiator von Fin.Connect.NRW ist das Wirtschaftsministerium in NRW, das Institut der deutschen Wirtschaft begleitet dieses Projekt. Der Workshop am 24. August 2022 in den Räumen des Instituts der deutschen Wirtschaft dient dazu, die Chancen, aber auch noch bestehenden Hemmnisse des europäischen Kapitalmarktes für die Transformationsfinanzierung aufzuzeigen und zu diskutieren. Da aufgrund der aktuellen Cor

Jul 04 2022

Location factors, Financing

WAIFC Whitepaper „The Future of Financial Centers“

Frankfurt am Main Brussels, 27.06.2022 – The World Alliance of International Financial Centers (WAIFC), in collaboration with the Dubai International Financial Centre (DIFC) and the Z/Yen Group, today released a white paper focusing on how financial centers around the world are responding to the challenges facing society today and a shared vision for 2030. Titled, ‚The Future of Financial Centers,‘ the white paper was developed following the Annual General Meeting of the WAIFC, where a number of CEO-level representatives from financial centers worldwide gathered in DIFC to share insights on policy design and regulatory interventions to enable sustainable growth, the Fourth Industrial Revolution (4IR) and human capital development. Whilst focusing on the role financial centers play in supporting global

Jun 23 2022

DVFA Monthly Question: The Annual General Meeting as an Indispensable Element of Direct Shareholder Democracy

Germany Finance For the third year in a row, the AGM season is still dominated by pandemic-related restrictions. A legal reform of the format of the AGM is currently being intensively discussed, in addition to which more and more questions about sustainability strategy are pushing their way into the AGMs of companies. A first question was aimed at the importance of the AGM for the share culture itself. Half of the investment professionals surveyed consider the AGM to be of high importance for the share culture, 29 % even very high. Only 19 % consider the role of the AGM to be low and only 1 % very low. Shareholder rights suffer under current regulations During the last two years, AGMs have only been held online – due to the Covid legislation. The DVFA asked: How do you rate the general meetings in the Cor

May 27 2022

Location factors, Innovation

Half of the top 10 deals went to German start-ups

Germany Finance The record chase among Europe’s start-ups continues: venture capital investments worth 88.1 billion euros flowed into young companies in 2021. Compared to the previous year, this is an increase of a whopping 141 percent – and the largest sum ever invested within one year. For comparison: from 2018 to 2020, the industry came to a total of 88.9 billion euros. The number of financing rounds also increased, rising by 25 per cent to almost 8,400. With 1,557 financing rounds, London remains the startup capital of Europe: The British metropolis is far and away in first place in terms of the number of deals and recorded almost as many financing rounds alone as the next-ranked cities Berlin, Paris, Barcelona, Zurich and Stockholm combined. These cities have a total of 1,564 deals. Together, Lon

May 24 2022

Location factors, Fin- und InsurTech

First funding through New „InnoFinTech“ program

Hamburg Hamburg, May 24, 2022 – First funding through New Program „InnoFinTech“. Hamburg-based companies Stargazr and SideCaps are the first two startups to receive funding from the new „InnoFinTech“ program. The funding program for young companies in the financial sector, which was launched at the end of March, is intended to support startups and the establishment of young, innovative companies from the FinTech and InsurTech sectors and related segments (e.g. LegalTech and PropTech), as well as to facilitate the implementation of new ventures by young companies that have already been established. Finance Senator Dr. Andreas Dressel: „It is a nice start signal that the first two companies can now be funded through the recently launched ‚InnoFinTech‘ program. Together with our partners, the Chamber

Apr 07 2022

Financing, Sustainability, Innovation

Instruments of transformation finance and their relevance for NRW

NRW The transformation of companies must be accompanied by the financial sector. The focus here is on the adjusting screws of volume, fit and risk. In order to coordinate these, the networking of companies with banks, insurance companies and investors should be strengthened. Fin.Connect.NRW supports this networking. Companies in NRW have an immense need to invest in the digital and climate-neutral transformation. The study „Transformation in NRW: How can the digital and climate-neutral transformation of companies in NRW best be financed?“ by the Institute of the German Economy identifies annual investments of up to 70 billion euros in the coming years. However, not only do the high volumes have to be managed, but attention must also be paid to the fit of the financing and the associated

Apr 07 2022

Financing, Sustainability, Innovation, Event

16th edition of the Private Equity Conference NRW on May 9, 2022

NRW Under the title „Private Equity – Partner for the Challenges of SMEs“, NRW.BANK will host the 16th Private Equity Conference NRW at the Rheinterrasse Düsseldorf on May 9, 2022. The event starts at 2 p.m. and ends at 6.30 p.m. with a get-together afterwards. Admission is from 1 pm. During the conference, the possibilities of financing through private equity will be highlighted with a special focus on the current challenges of SMEs and financing options with equity capital will be discussed. Various lectures, discussion rounds and talks with well-known experts from politics, business and science are planned. Keynote speakers will be the economist Prof. Dr. Ottmar Georg Edenhofer, the sociologist and social psychologist Prof. Dr. Harald Welzer and the economist Prof. Dr. Dr. h.c. Clem

Apr 01 2022

ISSB presents drafts for the disclosure of sustainability information

Germany Finance The International Sustainability Standards Board (ISSB), which was established at COP26 to develop a comprehensive global basis for sustainability disclosure for capital markets, has today launched a consultation on its first two policy proposals. One proposal contains general sustainability-related disclosure requirements, the other specifies climate-related disclosure requirements. The proposals – exposure drafts – build on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and include industry-specific disclosure requirements derived from SASB standards. When the ISSB issues the final requirements, they will provide a comprehensive global basis for sustainability disclosures to meet the information needs of investors in assessing corporate values. The

Mar 25 2022

Financing, Sustainability, Innovation

InnoFinTech program launched

Hamburg Hamburg, March 24, 2022 – InnoFinTech program launched. New program supports the emergence and development of innovative startups with grants of up to €200,000 in the startup and development phase. A new funding program for young companies in the financial sector is being launched in Hamburg. The „InnoFinTech“ program is designed to support startups and the establishment of young, innovative companies from the FinTech and InsurTech sectors as well as related segments (e.g. LegalTech and PropTech), and to facilitate the implementation of new projects by young companies that have already been established. The funding includes up to 200,000 euros in subsidies per startup, which can be used to finance up to 90 percent of the costs of the eligible project. Applications for the funds can be su

Mar 24 2022

Digital and climate-friendly transformation of the economy in NRW: study identifies investment needs of up to 70 billion euros per year

NRW Minister Pinkwart: „With new financing ideas for companies, we are promoting and accelerating investments.“ The digital and climate-neutral transformation of the economy in North Rhine-Westphalia requires not only forward-looking innovations but also substantial investments. A new study by the Institute of the German Economy has for the first time identified an investment requirement of up to 70 billion euros annually. To the press release and to the download of the study.

Mar 18 2022

Fin- und InsurTech, Innovation, Event

insureNXT on 18 & 19 May in Cologne

NRW Fin.Connect.NRW, together with the industry initiative InsurLab Germany e.V., invites you to insureNXT on 18 & 19 May in Cologne. Carlo Bewersdorf, Stephanie Peterson, Carsten Maschmeyer and other top speakers will welcome you. Together with start-ups and established insurers, the future of the industry will be discussed at the international congress fair for innovation in the insurance industry. In addition to exciting presentations on digital ecosystems, customer centricity and sustainable business models, the insureNXT Innovators Award for creative ideas in the insurance industry will be presented for the first time. With its 88 members, InsurLab Germany e.V., the largest InsurTech initiative in Germany, makes collaboration the standard! InsurLab Germany builds bridges

Feb 24 2022

Location factors, Financing

Effects of the Corona pandemic on the economy, inflation and monetary policy

NRW On 8 March 2022, another event in the series „Forum Bundesbank digital“ will take place, at which the Deutsche Bundesbank’s Head Office in North Rhine-Westphalia would like to communicate Bundesbank topics to citizens in an understandable way. Mr Jochen Metzger, President of the Head Office in North Rhine-Westphalia, will speak on this evening. The pandemic has caused an economic slump worldwide. How will the economy develop after the pandemic subsides? When will we reach the pre-crisis level in Germany again? What are the growth drivers? Will supply bottlenecks and raw material shortages be overcome in the course of the year? And what influence will these developments have on inflation? Will it remain at the current high rates or is a significant decline expected? How does the curr

Feb 21 2022

CHANGE AS AN OPPORTUNITY: NRW ON THE WAY TO THE „ECONOMIC MIRACLE 2.0“

NRW A strong real economy needs a strong financial centre. For innovation and transformation, the ecosystem is crucial, which also includes science. NRW is ideally prepared for transformational financing in digitalisation and sustainability, says NRW Banking Association head Thomas Buschmann in the current Börsen-Zeitung. The structural change that has been „practised“ for decades offers new opportunities for growth and competitiveness. Fin.Connect.NRW, which is supported by the banking industry, networks stakeholders and bundles investments. Especially in the area of sustainable finance, the banks are at the forefront. The Bankenverband NRW is a cooperation partner in the Fin.Connect.NRW financing initiative, as the Genossenschaftsverband and the Sparkassenverbände. The ecosys

Jan 24 2022

Financing, Sustainability, Event

17.02.2022, 4.30 p.m.: CHANCE, RISK AND FINANCING THE ENERGETIC TRANSFORMATION

NRW Currently, four disruptions are having a lasting impact on the German economy: digitalisation, de-carbonisation, demographics, decentralisation. To cope with these changes, companies and also the state are facing a decade of investment and capital stock restructuring. But already today, companies need to prepare their business models and digitally evolve processes and products. The transformations are changing the framework conditions of companies, currently especially corporate financing. The core topic of this event is the financing of the energy and climate turnaround, which requires investments through all sectors down to private households. As part of the Fin.Connect.NRW initiative – organised by the Institute of Energy Economics at the University of Cologne, IHK NRW e.V

Jan 06 2022

Financing, Innovation, Event

HOW DID COMPANIES GET THROUGH THE PANDEMIC? FINDINGS FROM THE BUNDESBANK’S COMPANY SURVEY

NRW Forum Bundesbank digital 18 January 2022, 6:00 pm How has the pandemic affected businesses in Germany? What benefits did the aid and economic stimulus packages have? Knowledge available at an early stage on the current situation of companies is very valuable for economic and monetary policy, especially during the monetary policy. This allows the economic consequences of the pandemic and the effect of the measures taken to contain it to be assessed and evaluated in a timely manner. The Bundesbank therefore used its new survey of companies to make corresponding assessments from the companies‘ point of view. In this presentation, important results from the Bundesbank’s survey of companies will be with a view to the economic consequences of the pandemic. There will be an opportunity to

Jan 06 2022

25.01.2022, 16.30: OPPORTUNITY, RISK AND FINANCING OF THE DIGITAL TRANSFORMATION

NRW With the digital and sustainable transformation, our economy is facing major challenges. More opportunity capital is to be mobilised for transformation processes. Innovation and cooperation open up opportunities and are a key to mastering these tasks. Currently, four disruptions are changing the German economy at once: digitalisation, de-carbonisation, demographics, de-globalisation. The transformation leads to innovations, high investments and a growing need for financing. Already today, companies have to make their business models, processes and products more digital and sustainable. Awareness is to be strengthened, which will also affect SMEs in the future. As part of the Fin.Connect.NRW initiative, we would like to discuss with you how companies can already prepare for the transformati

Dec 15 2021

Location factors, Financing, Sustainability, Innovation

Net Zero Banking Alliance: Employees fit for Paris

Frankfurt am Main Far beyond meeting regulatory requirements, banks need to train their employees to help shape sustainable economic development. Transformation expertise and sustainable financing solutions are becoming drivers of revenue and profit. The banks participating in the Net Zero Banking Alliance Germany (NZBAG) have set themselves the task of formulating minimum standards for the qualification of a bank’s employees. This is necessary as a supporting measure to make the German banking system a pillar of a „leading marketplace for sustainable finance“. The final report of the German government’s Sustainable Finance Advisory Council points out that „sustainable finance competence […] is key to building a resilient financial sector. In order to achieve forward-looking decisions and results, knowled

Nov 25 2021

New Germany Finance Study: Investment Demand Grows, Diversity of Financial Center Creates Financing Basis

Germany Finance Diversity as an advantage and strength of the financial system: The German financial center fits perfectly with the decentralized, medium-sized economic structure and German federalism – as shown by the study „Germany as a Financial Center and Cornerstone of the European Financial System“. The structures of the economy and the banking sector show great similarity. Germany’s financial center generates EUR 122 billion per year, employs 1.1 million people and is the largest financial sector in Europe in terms of employment. Compared with the rest of Europe, the German financial system is close to its customers and characterized by many players. The study examines in detail banks, insurance companies and stock exchanges in a European context. The financial center consists of several leading re

Nov 25 2021

INVITATION TO THE ONLINE EVENT: SUSTAINABLE FINANCE, EU TAXONOMY AND CSR REPORTING – WHAT LIES AHEAD FOR COMPANIES IN 2022

NRW Sustainability reporting requirements are increasingly reaching businesses in North Rhine-Westphalia. The goals of the Green Deal and the CSR (Corporate Social Responsibility) reporting obligations of the European Union require companies to put their business models to the test against the background of sustainability criteria. Under the buzzword „Sustainable Finance“, the EU has launched further initiatives to also align financing and risk provisioning and also public funding more closely with sustainability aspects. Although many of the new obligations are primarily directed at larger companies, many small and medium-sized enterprises are also affected by their integration into the value chains. Already in the coming year, companies must prepare for these new trends in order to be able t

Nov 23 2021

Financing the digital and climate-neutral transformation: Event on 6 December 2021

NRW The German Economic Institute (IW) , DekaBank and Börsen-Zeitung invite you to the 28th Financial Market Round-Table on Monday, 6 December 2021. Due to the Corona pandemic, the current Financial Market Round-Table will again take place online. The digital and climate-neutral transformation poses great challenges for companies. Immense investments in buildings, machinery and equipment, but also in public infrastructure are necessary for this. Scenario calculations assume a global investment requirement of 5-6 trillion euros annually. But how can the financial resources for these investments be mobilised? Which decarbonisation technologies are already available to companies and which still need to be developed? How can these innovations be financed? What contribution can banks make to finan

Nov 23 2021

A new departure in transformation and its financing

NRW NRW. The central challenges of our time are the digital and sustainable transformation of the economy and its financing. The mobilisation of opportunity capital for the business location is an essential topic for the future. In a recent article, the Bankenverband NRW, a cooperation partner in Fin.Connect.NRW, highlights the crucial aspects as they are currently being discussed by financial institutions, companies, associations, science and politics in North Rhine-Westphalia. A strong real economy needs a strong financial centre. The financial sector is an innovation driver – in the financing of the economy, but also in the further development of its own innovations and business models. The basic prerequisite for successful financing of the transformation in the state is better networking.

Nov 04 2021

Sustainability, Innovation, Event

Financial Centre Frankfurt to be one of the ISSB key locations

Frankfurt am Main Frankfurt’s application awarded key functions for the new International Sustainability Standards Board, which will develop future standards for global sustainability disclosures for financial markets: Frankfurt will be seat of the Board and also host the office of the chair. Montreal will also be providing key functions to the ISSB. An additional office will be placed in the Asia Oceania region which underlines the global ambition of the ISSB and enables regional stakeholders to engage with the new board. Today’s announcement on the COP26 constitutes an important step towards tackling the global sustainability challenge. The ISSB, to be established under the International Financial Reporting Standards-Foundation, will develop an international baseline standard for sustainability report

Nov 02 2021

Expo Dubai Panel Discussion

On October 25, we held our Dubai Livestream for the event „The Role of International Financial Centers in Sustainable Finance“. Sustainability is a trend that has taken off. For this reason, we asked the questions, how can international financial centers support our traditional ecosystems in this change and what are actually the biggest challenges? In doing so, the following members of leading international financial centers provided insight into their internal plans and experiences: -Philippe Richard (Executive Director Abu Dhabi Global Market) -Manal Bernoussi (Strategy, Marketing & Communications Director Casablanca Finance City) -Nick Barigye (CEO Rwanda Finance LTD Kigali International Financial Center) -Zahra Abdel Rassoul (Deputy Director Stuttgart Financial) -Jennifer Reynolds

Oct 26 2021

Fin- und InsurTech, Innovation

FinTech Report Publication

Germany Finance Stuttgart, 26.10.2021 Germany Finance publishes the German FinTech Report 2021 Germany Finance, the working group of financial centers in Germany, has published the German Fintech Report 2021 for the first time. The comprehensive study shows how diverse the German Fintech industry is and where its focus lies. It was based on data on the German Fintech ecosystem from the startup platform Startbase, which is operated by the Stuttgart Stock Exchange Group. According to the German Fintech Report, there are currently 639 active FinTechs in Germany. Between 2018 and 2020, the study identifies 243 Fintech startups – around ten percent of all startups in Germany. This makes Fintech the second strongest sector in terms of startup activity in the German startup ecosystem. Currently, th

Oct 15 2021

FinTech Germany Award 2021

Stuttgart The FinTech Germany Award took place for the sixth time on September 29, 2021. This time not in Frankfurt, but in Stuttgart. The location couldn’t have been better. The Wagenhallen Stuttgart were stylishly furnished with a retro look and the outdoor area was perfect for engaging in exciting conversations with a glass of wine and delicious food. It all started at half past six with a welcome from Bianca Lopes, who, as moderator, led through the evening in a charming and humorous way and announced the winners together with the jury members. A shortlist of 44 FinTechs was created from the original 180 applications, from which the 24 jury members selected 8 winners. These were Cash On Ledger, Cashlink, Nuri, Mambu and FQX. There were also special prizes for the FinTechs Clark, Tangany and Rema

Oct 14 2021

The digital future of payments

NRW In recent years, non-cash payment transactions have once again become the strategic focus of the banking industry, in particular due to the increasing digitization of the economy. At the same time, efforts are being made at European level in particular to expand the European single market in payment transactions and to make it fit for the future in terms of competition and performance. Against this backdrop, a virtual symposium entitled „The Digital Future of Payments“ will be held on October 28, 2021, organized by the Deutsche Bundesbank’s North Rhine-Westphalia Head Office in Düsseldorf, to which you are cordially invited. The event consists of two parts: – Six panel discussions in the afternoon, from which the participants of the symposium can choose two events on screen, and – an even

Oct 01 2021

Financing, Sustainability

Masterplan for Hamburg’s financial sector signed

Hamburg Finanzplatz Hamburg, the Senate and the Hamburg Chamber of Commerce today signed a masterplan for Hamburg’s financial sector. In order to be able to tackle the major challenges facing Hamburg, such as climate neutrality, digitalisation, the mobility revolution and urban development, a high-performance and sustainable financial sector is indispensable. In line with these political, economic and social objectives, the city, the chamber of commerce and the financial sector want to shape the future of the financial sector in Hamburg in an innovative and sustainable way and thus position one of Germany’s historically most important financial locations for the future in the demanding competition of comparable financial locations. With the Masterplan, the signatories have agreed on the starting

Sep 28 2021

Deutsche Börse: Aktionsplan zur Stärkung des Kapitalmarkts

Germany Finance Deutsche Börse Whitepaper empfiehlt Aktionsplan zur Stärkung des Kapitalmarkts Wie leistungsfähig ist der deutsche Kapitalmarkt? Mit dieser Fragestellung beschäftigt sich das Whitepaper „Strategien zur nachhaltigen Finanzierung der Zukunft Deutschlands“, das die Deutsche Börse heute veröffentlicht hat. Die Ergebnisse unterstreichen, dass es dringend eines nationalen Aktionsplans bedarf, um den deutschen wie auch den europäischen Kapitalmarkt zu stärken. Konkrete Empfehlungen für die Eckpunkte eines solchen Aktionsplans liefert das Whitepaper gleich mit. Deutschland steht vor enormen Herausforderungen: Digitalisierung, Klimaneutralität, ein generationengerechtes Rentensystem. Diese Themen werden für die neue Regierung im Mittelpunkt stehen müssen. Die notwendigen Mittel zur

Sep 28 2021

30th Global Financial Centres Index

Germany Finance The 30th Global Financial Centres Index Ranking was published on September 24th, 2021. The German financial centers were able to record very good places here. In 14th place, Frankfurt is at the top of the German financial centers, followed by Hamburg and Munich in 30th and 31st place. Stuttgart ranked 39th. A total of 116 cities were ranked. Frankfurt in particular was able to convince in several other categories. Frankfurt is represented in the ranking for Business Environment and Infrastructure as well as Financial Sector Development. Stuttgart was able to convince at Human Capital and is listed in this ranking. In Europe, Frankfurt ranks third after London and Paris. Hamburg, Munich and Stuttgart occupy places 11, 12 and 14. In the FinTech sector, Frankfurt is also part of the top 20 Fi

Sep 24 2021

Berlin starts finance & tech hub initiative

Berlin The finance and tech industry in the metropolitan region is becoming an increasingly powerful engine for jobs and growth. Berlin has an internationally recognized FinTech scene that attracts investors, capital and talent from all over the world to a degree that is unique in Germany. The Finance & Tech Hub has thus developed a very special profile. The Berlin numbers speak for themselves: 38% of all FinTech startups in Germany are based at the Spree, 1.6 billion euros of investment flowed into Berlin-based companies in the sector in the first half of 2021 6 out of 7 German FinTech unicorns come from the capital. Berlin is the number 1 FinTech location in the EU. Berlin is the founding place and location of renowned banks, funding institutions, capital providers, the savings bank

Sep 02 2021

Financial Centre Frankfurt applies for ISSB

Frankfurt am Main 2 September 2021 – The financial centre Frankfurt is applying for the seat of the International Sustainability Standards Board (ISSB). The ISSB is to be created under the umbrella of the International Financial Reporting Standards Foundation (IFRS Foundation) and develop international standards for sustainability reporting by companies. The official application was submitted jointly by the Financial Centre Initiative Frankfurt Main Finance, the Value Balance Alliance and the Frankfurt Economic Development Agency to the IFRS Foundation based in London on Tuesday. The application received approval from more than 180 renowned supporters. The reporting of companies on sustainability aspects (sustainability reporting) is becoming increasingly important and requires internationally accepted repo

Aug 30 2021

Financial Center Stuttgart launches FinTech initiative

Stuttgart The financial center initiative Stuttgart Financial launched the website of their own FinTech initiative today. All information about the FinTech ecosystem in Baden-Württemberg can be found on fintogether.de. A dedicated FinTech Accelerator, to which early-stage FinTechs in the SMART Finance area can apply, is also part of the initiative. With numerous workshops, qualified mentors and a co-working space, FinTechs are getting prepared for their future in the financial industry. Would you like to find out more? Go to the website here.

Jul 26 2021

The future of the European banking sector

Frankfurt am Main The future of the European banking sector – What to come after the Corona crisis? A scenario study by FMF member KPMG examines scenarios for the future of the European banking sector, particularly in the post-Corona pandemic environment. “High costs, increasing regulation, strong competition from new market players, the demand for greater sustainability and geopolitical uncertainties: Even before the Corona crisis, European banks were under intense pressure to change. The Corona crisis has increased this pressure even further. In this scenario study, we have examined scenarios for the future of the European banking sector, particularly in the post-Corona pandemic environment. In four scenarios, we show how the global political situation could develop and analyze its implications.”

Jul 26 2021

Fin- und InsurTech, Innovation

CFS Index rises significantly

Frankfurt am Main The positive sentiment of the financial industry has further improved. The CFS index, which measures the business climate of the German financial sector on a quarterly basis, rises by +3.5 points to 115.3 points in the second quarter of 2021. With a gain of +8.4 points, it is clearly above the level of a year ago, when an initial recovery from the pandemic was getting underway. This encouraging development is based in particular on positive reports from the financial institutions regarding their employee numbers. Job cuts were halted in the second quarter and employees were hired again. The service providers also report increased workforce growth. The financial sector expects this positive trend to continue in the current quarter. Furthermore, the financial institutions report slight reven

Jul 05 2021

Make digitalisation possible together

NRW InsurLab Germany e.V., with its 87 members, is the largest InsurTech initiative in Germany and makes collaboration the standard! InsurLab Germany builds bridges between start-ups and established insurers. The aim is to jointly transform the German insurance industry through digitalisation and to develop new and further business models. Start-ups and scale-ups receive exclusive access to top decision-makers in the insurance industry. In addition, InsurLab Germany is supported by leading technology and service companies as well as universities in its digitalisation mission. Journey into the future How does InsurLab Germany go about it? To achieve its goal, InsurLab Germany has developed the „InsurLab Journey“. On this journey, the initiative provides impetus and achieves results for t

Jul 02 2021

Location factors, Fin- und InsurTech

Good ranking for Germany as a fintech location

Germany Finance The new Global Fintech Rankings Report by the British agency findexable shows that the fintech industry has expanded financially in 2020, a year marked globally by the Corona pandemic. In European comparison, Germany is ranked 5th (globally at 9th) and thus makes up two places compared to the previous year’s version. Only the United Kingdom, Switzerland, Sweden and the Netherlands rank better. Four German cities (Berlin, Hamburg, Frankfurt and Munich) are listed among the TOP 20 European fintech locations. Berlin is even considered the second most important location in Europe after London. The index algorithm ranks the fintech ecosystems of more than 230 cities in 65 countries. The report, published for the first time in 2019, draws its data from its own records as well as a global partner

Jun 23 2021

Europe’s competing financial centres

Frankfurt am Main Financial centres in the European Union are often seen as competitors, snatching each other’s business in a zero-sum game. After the British referendum on leaving the EU, much attention was paid to commenting on how individual centres fared in the battle for the „Brexit spoils“. Yet Frankfurt, Luxembourg and Amsterdam had much in common in the post-Brexit period: The honest regret of losing a world-class financial centre in Europe with London, the clear goal of making the Brexit mild, and the still valid offer to London of wanting to build new bridges. The various financial centres are certainly competitors, and that is fundamentally a good thing, which benefits the financial industry and ultimately its customers and drives companies and economies forward. But the financial services landsc

Jun 09 2021

Guest Post in Zeitschrift für das gesamte Kreditwesen of Dominik Schütz

Germany Finance In the current issue of the „Zeitschrift für das total Kreditwesen“ from Fritz Knapp Verlag you will find an article by Dominik Schütz, Head of Stuttgart Financial, about Germany as a financial location. The main focus is on the topic of diversity and why it is important for the future of financial centers. Would you like to know more about it or buy the edition? Click here for the magazine.

Jun 08 2021

Invitation to the online event: The Challenge of Sustainable Finance

NRW Under the buzzword „sustainable finance“, the transformation to sustainable business is reaching the financing level, the financial industry as well as NRW companies as a whole. The European Union has set itself the goal of including the capital markets in the measures for more climate protection and sustainability. Through several initiatives, environmental, social and corporate governance aspects are to be integrated into the decisions of financial market players, for example in the granting of loans, investments or insurance contracts and non-financial reporting. In view of the major investments required for a sustainable transformation, capital is to be mobilized and economic and financial activities geared to sustainability. Finance is to become the lever for a sustainable economic sy

Jun 01 2021

First cross-financial trainee program starts in Stuttgart

Stuttgart Today the financial centre Stuttgart presented its unique cross-financial trainee program. The trainee program organized by Stuttgart Financial connects prospective specialists with players from the financial center Stuttgart in a globally unique training concept. During the one-and-a-half-year trainee program, the trainees go through three rotations with different players in the financial center and thereby get to knwo different sub-branches of the financial sector. This gives them the opportunity to get to know the financial industry as a whole and thus have a unique career and a one-of-a-kind skills. With this trainee program, the players gain industry experienced and industry networked trainees with a wide range of skills and an eye for the big picture. The concept was therefore also a

May 21 2021

German Fintech Blogs and Newsletters

Germany Finance A few days ago, Payment & Banking, a leading medium of the German fintech scene, celebrated its tenth anniversary. A good time for a brief look at some German-language finance blogs and newsletters with a fintech focus. Payment & Banking Strictly speaking, Payment & Banking was only launched in 2012, but a link list created by still-active founder André Bajorat in 2011 with an overview of what was happening in fintech in Germany at the time was the starting point. Continuously, the medium, meanwhile extended by a podcast format, has developed into one of the most important contact points for the entire industry in Germany. Finletter Every Friday, Finletter is published as a curated, independent journalistic newsletter on fintech-topics. In addition to an editorial, Finletter c

May 17 2021

Invitation to the online event: Financing the digital transformation

NRW Even though the Corona crisis and its consequences dominate the public and also the discussion in many companies, technological change has by no means slowed down. On the contrary, for many companies the pandemic has proven to be an accelerator of innovation and digital transformation: Whether converting business models to mobile working, securing value chains, or acquiring customers digitally, the crisis required investments in digital infrastructure and employees‘ digital know-how. In addition, technological change – from blockchain to AI – continues at full speed, intensifying global competition. On the other hand, the crisis has attacked the funding base in many companies, severely limiting the financing scope for investments. In an uncertain market environment, many companies must now

Apr 22 2021

Recap: Financial Center Summit 2021

Stuttgart The 14th Stuttgart Financial Center Summit took place on April 20, 2021 – this year in a digital format for the first time. Under the motto „Baden-Württemberg on the way to more sustainability“, the established forum of the Financial Center Summit was used to discuss the idea of sustainability with a view to the region and the financial services industry. The digital format made it possible to bring the participants of the Stuttgart financial center together virtually despite the pandemic. The entire event was broadcast to viewers at home via the Talque event platform, while the speakers were on site at the event location in strict compliance with the Corona Directive. Opening: At 6:00 p.m., moderator Ilka Groenewold opened the Financial Center Summit 2021 live from the event location Gat

Apr 22 2021

15th Private Equity Conference NRW: Venture Capital as Fuel for Digitization

NRW The Corona crisis underscores the importance of the digital modernization of German companies. Employees and consumers alike have adapted their working and consumption habits over the course of the pandemic. Digitized companies have therefore been and are ahead of the game – and can be the big winners of tomorrow, even after the crisis. Against this background, what are the financing options with equity capital? In order to shed light on this, NRW.BANK will once again bring together all relevant players digitally on May 31, 2021 at the 15th Private Equity Conference NRW (starting at 5 p.m.). Last year’s online event was already a complete success with over 600 participants from SMEs, the start-up scene, banks and savings banks, private equity and venture capital companies as well as busine

Apr 21 2021

Strategy paper for the Stuttgart Financial Center

Stuttgart „Stuttgart’s Declaration on the Sustainable Transformation of the Financial Center“ was presented on April 20 as part of the Financial Center Summit 2021. The financial center initiative Stuttgart Financial was in charge in close cooperation with the institutions in the financial center and the consulting and auditing company Ernst & Young as content companion. In addition to players from the financial sector, companies from the real economy and representatives of educational and research institutions are also involved in the development of the strategic orientation. The new sustainability strategy takes up reference points at state, federal and international level and takes into account requirements of the European Union. The concrete activities at the Stuttgart financial center withi

Apr 07 2021

Invitation: Successfully emerging from the crisis on new financing paths

NRW If you want to get your business back on track in times of a pandemic or a restart after the crisis, you need to be liquid. On April 29, 2021, starting at 4:30 p.m., you can learn how to acquire the necessary funds with the help of leasing, factoring, or securitization – „asset-based financing.“ In the online event series „Successfully emerging from the crisis using new financing channels“, the Association of North Rhine-Westphalian Chambers of Industry and Commerce (IHK NRW) invites you to the digital information event as part of the Fin.Connect.NRW initiative. After keynote speeches by Prof. Hartmann-Wendels, Prof. Pfingsten and representatives of DZ Bank, Deutsche Leasing and Targobank, participants will have the opportunity to address any unanswered questions to the speakers. Further i

Apr 01 2021

Symbioticon – Virtual Hackathon

Hamburg The annual „Symbioticon 2020/21“ organized by the Sparkassen Innovation Hub (S-Hub) in Hamburg came to a close on March 30. Already in the last years, the concept went far beyond the pure developer competition. Through the fusion of hackathon, conference and networking event, different interest groups came together even in a purely virtual space. At the finale, the six final teams presented their innovative solutions for Sparkassen Finanzgruppe and its customers in different tracks. The winner of the main prize was the „Deep Neuron Lab“ team.

Mar 24 2021

Location factors, Financing, Innovation

Financial Center Germany – What you need to know

Germany Finance Germany is the largest economy in Europe and has a AAA ranking – thanks to its outstanding financial industry, which accompanies and supports further growth and development as the „backbone“ of the real economy. Thus, the financial industry plays a significant role in the economic development of an economy, for example by financing entrepreneurial activities and expansions. In Germany, over 1,700 banks, 530 insurance companies, 3,000 auditing firms, 700 fund companies, 300+ private equity firms, 900+ FinTechs and six financial centers in Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart and Munich provide support. To promote Germany as a financial center and disseminate facts, Germany Trade & Invest has published an information film with the support of Germany Finance. Feel free to ta

Mar 22 2021

Yearbook 2021 of the Frankfurt Institute for Risk Management and Regulation

Frankfurt am Main In 2021, the FIRM Yearbook will celebrate its 10th birthday. Since 2012, the publisher, the Frankfurt Institute for Risk Management and Regulation (FIRM), has provided expert support and impetus for many current developments from the world of risk management and regulation. Around 50 authors contributed to this year’s yearbook. Like Frankfurt Main Finance, FIRM pursues the goal of strengthening Frankfurt as a financial centre. Both organisations are working on this with very different focuses and competences – Frankfurt Main Finance as a location initiative and voice of the financial centre, FIRM is committed to promoting research and teaching in the field of risk management and regulation. The yearbook can be downloaded free of charge here.

Mar 18 2021

Event

Invitation to the premiere of insureNXT digital

NRW Fin.Connect.NRW, together with the industry initiative InsurLab Germany e.V., invites you to the premiere of insureNXT digital on April 21/22, 2021. Changing customer demands, new competitors and digitalization: insureNXT digital is a new congress fair with the aim of developing a completely new generation of products, services and business models. By linking traditional insurers, startups and cross-industry partners, opportunities are created for the development of new solutions, new ecosystems and business models that build on the changing needs of customers and benefit from new technologies. In addition to the virtual expo, a Career Day and a wide range of networking opportunities, you can expect to hear from over 100 speakers from well-known companies and innovative startups presenting

Mar 17 2021

Global Financial Centres Index: Frankfurt most important financial centre in Continental Europe

Frankfurt am Main Frankfurt has benefited disproportionately from Brexit and is gaining the crown as the most important financial centre in continental Europe. This is according to the latest Global Financial Centres Index published today, which is compiled semi-annually by the international consulting firm Z/Yen Group. The German financial centre on the Main, which is home to the European Central Bank, the Bundesbank, hundreds of domestic and foreign banks and one of the world’s largest stock exchanges, left its strongest competitors on the continent – Luxembourg, Paris and Zurich – behind in the highly regarded ranking and made it to 9th place. This is the highest ranking in the European Monetary Union and also the best place of a continental European financial centre in the ranking. Gerhard Wiesheu, Pres

Feb 23 2021

Bank branch development in 2019

Germany Finance Consolidation in the German banking sector in 2019 Consolidation in the German banking sector continued in 2019. During the year, the total number of credit institutions decreased by 66 to 1,717, down 3.7% from minus 2.2% in the previous year. Although the decline in the number of institutions slowed in 2018 as internationally operating banks relocated for the purpose of Brexit, the downward trend has now been reinforced again by numerous closures or conversions of branches of UK securities trading banks. After continuing to decline from 2,239 branches in 2018, the number of domestic branches fell again in 2019 by 1,220 or 4.4% to 26,667. These include traditional branches and locations with self-service terminals and personal advisory services. Pure self-service terminals are not i

Feb 17 2021

Fin- und InsurTech, Innovation, Event

Financial Report 2021

Stuttgart The year 2020 will be remembered by all of us in many ways. For example, there were numerous changes such as lockdowns, home offices and crossed entries in the diary that presented everyone with new challenges. Nevertheless, as Stuttgart’s financial center initiative, we were able to achieve a lot for Stuttgart last year together with our partners. An important step was the foundation of the working initiative of the German financial centers, „Germany Finance“. In this initiative, we want to work together with the other financial centers on important cross-financial center topics such as sustainability or innovations and use our role as spokesperson in 2021 to strengthen cooperation within the German financial ecosystem. Stuttgart was also able to represent itself internationally as an inn

Feb 10 2021

Germany Finance with digital booth at Asian Financial Forum (AFF)

Germany Finance The 14th Asian Financial Forum (AFF) of the Hong Kong Trade Development Council (HKTDC) took place on January 18 and 19. The two-day event was themed „Reshaping the World Economic Landscape“ and was held for the first time as an online-only format rather than in Hong Kong due to the Corona pandemic. In total, the AFF recorded more than 63,000 virtual guests from 70 countries and regions over two days. The forum serves as a platform for government, financial and business leaders to exchange ideas on topics such as thought leadership, fintech innovation and business ideas. As part of the Forum, AFF Deal Flow Matchmaking connects stakeholders through one-to-one meetings based on their common areas of interest. Over the years, more than 5,800 meetings have been arranged for more than 3,500 bus

Feb 02 2021

Innovation, Event

Innovation Week 2021

Stuttgart Under the claim #Connect #Create #Change, the Innovation Week will take place from 08.02. -11.02.2021 in the financial center of Stuttgart. Over the past four years, the Stuttgart Financial team has already created space for cross-institutional financial innovation under the FinTech Days format. With the Innovation Week, Stuttgart Financial wants to pick up exactly where it left off – with a new, optimized and virtual format. This is intended to offer the players in the Stuttgart financial center an individual framework program on specific topics of the industries considered. Part of this framework program are workshops and lectures on the topics of innovations and technology, which are intended to provide the financial center players with exciting, new knowledge input. The development of

Jan 25 2021

Fin- und InsurTech, Event

Invitation to the virtual insureNXT impulse

NRW Fin.Connect.NRW together with the industry initiative InsurLab Germany e.V. invites you to the second insureNXT impulse on the topic „Tech & Science Innovation & Transformation“. This is a remote format that forms the content teaser for the insureNXT congress trade fair in April 2021. On Thursday, February 4, 2021 from 16:00 – 17:30 you can expect an exciting keynote on „The learnings of building Europe’s leading fintech ecosystem“, by Ramin Niroumand. Founder & CEO finleap as well as two innovative use cases and an interesting Tech & Science Panel. Interested parties are cordially invited to participate in the format – Zoom dial-in details will be provided after their free registration.

Jan 19 2021

Invitation: Online Event with Dr. Beata Javorcik, Chief Economist der EBRD

Frankfurt am Main The Financial Centre Initiative Frankfurt Main Finance e.V. together with the Association of Foreign Banks in Germany invites you to the next online event with Dr. Beata Javorcik, Chief Economist of the European Bank for Reconstruction and Development in London. She will speak on Thursday 28 January 2021 from 9:00 – 10:15 CET on the topic „The state remains at the centre – why we can expect the state to play a stronger role in the economy and what this means for the private sector“. Interested parties are cordially invited to follow the event! Interested parties will receive the access link to the Zoom conference and, if applicable, the data for a telephone dial-in after their free online registration. The language of the lecture and discussion will be English. For more information on Dr.

Jan 13 2021

Financing

FIRM Position Paper on the Covid-19 Pandemic

Frankfurt am Main What are the implications of Covid-19 for the European banking industry? The Frankfurt Institute of Risk Management and Regulation (FIRM) examines the effects within the framework of a multi-part study. The focus is on risk provisioning and the question: Can European banks continue to provide the real economy with the necessary credit volume? This is a crucial prerequisite for the expected economic upturn in 2021. The first publication uses stress test modelling to make forecasts on the resource endowment of European banks. The most important drivers here are loan loss provisions and credit RWAs. The results of the stress test show that the European banking sector was basically well prepared and able to cope with the effects of the Covid 19 crisis so far. Crisis will manifest itself partic

Jan 07 2021

Financial Centres Found „GERMANY FINANCE“ Working Group

Germany Finance Stuttgart – The initiatives of majorGerman financial centres founded the GERMANY FINANCE working group at the beginning of 2021. The participating organisations have thus initiated a joint platform to further promote the continuous exchange among each other and to provide a central point of contact for people from Germany and abroad who are interested in Germany as a financial centre. The founding of the initiative is very much welcomed by the Federal Ministry of Finance. State Secretary Dr. Jörg Kukies says: „The diversity of Germany’s financial centre is a great locational advantage. It is important that Germany Finance now bundles this diversity to give Germany’s financial centre a unified voice both nationally and internationally. A broadly positioned, globally networked and high-perf

Dec 30 2020

Fin- und InsurTech, Innovation

A Deal at the Eleventh Hour: Brexit agreement welcome

Frankfurt am Main The Brexit Coordination Network of the Frankfurt RheinMain Region and the State of Hessen welcomes the last-minute agreement regarding the UK’s exit from the European Union (EU) after a long political tug-of-war. Though some details have yet to be clarified, there is now a certain degree of clarity for business and the numerous banks and enterprises of all sectors based in the Frankfurt region or those that have relocated or established a subsidiary there because due to Brexit. The Brexit Coordination Network consists of the Chancellery of the State of Hessen as well as six organisations and initiatives active in economic development and location marketing: Hessen Trade and Invest GmbH, Frankfurt RheinMain GmbH International Marketing of the Region, the Chamber of Industry and Commerce o

Dec 21 2020

WAIFC’s new report on innovation and FinTechs

Germany Finance WAIFC’s new report highlights the role of innovation and FinTechs in post-pandemic economic recovery The World Alliance of International Financial Centers (WAIFC) has released a comprehensive report entitled, ‚Innovation and FinTechs in a Post-Pandemic World,‘ highlighting the significant role that innovation and financial technology (FinTech) play in the global economic recovery from the COVID-19 pandemic. The report seeks to provide a pathway toward sustainable financial innovation development by delving deeper into how the COVID-19 crisis has reshaped financial innovation. It also explores the rise of new technologies and an accelerated phase of digitalization across the industry, as well as in what ways the FinTech industry will help in overcoming the current phase of economic uncertai

Dec 18 2020

Location factors, Event

Challenges for the financial centre Germany – Online Discussion with State Secretary Dr Jörg Kukies

Frankfurt am Main On Monday, 14 December, Frankfurt School of Finance & Management invited to an online discussion with Dr Jörg Kukies, State Secretary at the Federal Ministry of Finance. More than 200 students, alumni, finance sector and media representatives took part in the event. Professor Sascha Steffen, Professor of Finance at Frankfurt School, moderated the event. Professor Nils Stieglitz, President of Frankfurt School, and Dr Clifford Tjiok, Managing Director of LOANCOS GmbH, introduced the programme. In his keynote speech, Dr Jörg Kukies addressed the challenges facing Frankfurt and Germany as a financial centre and provided insights into current topics and focuses at the Federal Ministry of Finance. Afterwards, the online event offered participants the opportunity to ask the State Secretary

Dec 15 2020

Financing, Innovation

New Impulses from Fin.Connect.NRW

NRW The first half-year results of Fin.Connect.NRW are very positive. The first projects and innovative solutions were initiated together with science and the Banking Task Force. A workshop on the opportunities of transformation and its financing met with great interest. In a relatively short time, Fin.Connect.NRW succeeded in establishing itself more broadly. The new homepage has been well received. Minister Prof. Dr. Andreas Pinkwart started the new initiative on 15 June 2020. With the digital and sustainable transformation, our economy is facing major challenges. Innovation and cooperation open up opportunities and are a key to mastering these tasks. More Venture Capital is to be mobilised for the transformation. Through stronger cooperation and networking in the financial centre, an

Dec 02 2020

WAIFC Publication on „Sustainable finance in a post-pandemic world – the role of financial centers“

Stuttgart As a member of the World Alliance of International Financial Centers (WAIFC), the Stuttgart financial center published a report on „Sustainable Finance“ together with the Abu Dhabi Global Market (ADGM). The purpose of the work is to identify what has been done to date in terms of sustainable finance in different financial centers and understand the impact that the COVID-19 pandemic has had on sustainable finance’s trajectory. The output provides practical and impactful recommendations on the role that financial centers can play to support the economic recovery through the sustainability agenda. Notably, the research found that, as 2020 unfolded, de-prioritizing sustainable finance has, by and large, not occurred. In fact, in some instances, there has been an acceleration. Many are asking,

Nov 13 2020

A strong state in transition to more sustainability

NRW Excerpt from the article „A strong state in transition to more sustainability“ by Armin Laschet, Prime Minister of North Rhine-Westphalia for the „Börsenzeitung“: North Rhine-Westphalia is an economic region in the heart of Europe. It is constantly changing and exhibits an astonishing continuity. With its strong economic power, the region has made a significant contribution to Germany’s economic success for decades. In 2019, the gross domestic product of North Rhine-Westphalia amounted to over 17 billion euros – more than any other federal state. If North Rhine-Westphalia were a state, it would rank 19th worldwide, ahead of Switzerland, Sweden, Poland and Belgium. Around 120,000 new companies are founded here every year. A fifth of all the state’s startups and eight of the 30 DAX-listed c

Nov 05 2020

Financing, Innovation, Event

German financial industry sees a need for DAX reform

Frankfurt am Main The Wirecard scandal has not only raised questions about the role of the regulator BaFin and the responsible auditing firm, it has also triggered discussions about the criteria for DAX membership. After all, the now insolvent company Wirecard took the place of Commerzbank in the DAX index in 2018. The CFS asked financial industry executives for their views on potential DAX reforms. Over 55% of those surveyed believe that only profitable companies should be admitted to the DAX in future. Currently this is not among the selection criteria. “Had this rule applied, the company delivery hero would not have been admitted to the DAX,” explains Professor Volker Brühl, Managing Director of the CFS. By contrast, around 75% of the respondents oppose the idea of removing companies from the DAX if

Nov 04 2020

Joint Seminars on Financial Topics

Stuttgart With the support of Stuttgart Financial the Stiftung Kreditwirtschaft regularly organizes specialist lectures on current and financial topics at the University of Hohenheim, at which high-ranking representatives from business and politics express their views on current and fundamental financial issues. A large number of top speakers can already be found in the event catalogue 2019 and 2020: Friedrich Merz, Chairman of BlackRock Asset Management Deutschland AG Bettina Stark-Watzinger, parliamentary managing director of the FDP parliamentary group Rainer Neske, Chairman of the Management Board of Landesbank Baden-Württemberg Helmut Schleweis, President of the German Savings Banks and Giro Association Dr. Christian Kames, Head of Investment Banking Germany at JP Morgan On November 4, 2020,

Oct 30 2020

Location factors, Event

Workshop on transformation finance

NRW The online workshop „Transformation Finance in NRW – Seizing Opportunities in Growing Markets“ on 30 October 2020 attracted great interest. The speakers reported on the financing needs of European companies, sustainable finance from the perspective of the financial sector and companies, and the transformation of transformation finance. This was followed by an intensive discussion on how stronger networking can support transformation finance. The workshop was organised by Fin.Connect.NRW, the German Economic Institute and the Ministry of Economic Affairs, Innovation, Digitalisation and Energy of North Rhine-Westphalia. Speakers were recruited from the Boston Consulting Group, the European Investment Fund, Heidelberg Cement and the Green and Sustainable Finance Cluster Germany e.V. Th

Oct 21 2020

Location factors, Innovation

Helaba Financial Centre Study: under the Sign of Corona

Frankfurt am Main For the German banking industry, the corona pandemic is a major burdening factor that is likely to be felt soon, adding to existing challenges such as the continuing low interest rates. Credit defaults are expected to increase in Germany at the latest when the obligation to file for insolvency is reinstated at the beginning of 2021. For the German financial sector as a whole, the corona-induced effects should be manageable according to current estimates. In the medium term, however, the risks in the national and international financial system remain high. Against this background, Helaba is changing its employment forecast for the Frankfurt banking location. This is because the positive employment effect of the brexite is likely to be somewhat more stretched over the forecast period (2020-2

Oct 19 2020

Event

WAIFC – Annual Meeting

Stuttgart „The World Alliance of International Financial Centers held its Annual General Meeting today, this time virtually and hosted by the Qatar Financial Centre. It was essential for our members to meet in the current crisis and confirm that financial centers are part of the solution for economic recovery. We have important contributions to accelerate growth, with a strong focus on accelerating sustainable finance and financial innovation.“ Arnaud de Bresson, Chairman of WAIFC and CEO, Paris Europlace On October 19, 2020 the Annual Meeting of the World Alliance of International Financial Centers (WAIFC) took place. Due to the current situation caused by the corona pandemic, it was held virtually „in Qatar“. With a well-designed program by colleagues, all 17 international financial cen

Oct 15 2020

Innovation Report NRW

NRW Business and science in North Rhine-Westphalia have great potential to continue to be a leading driver of innovation, growth and employment in Europe. This is the conclusion of a comprehensive analysis conducted by RWI – Leibniz Institute for Economic Research together with the Leibniz Centre for European Economic Research (ZEW), Wissenschaftsstatistik GmbH of the Donors‘ Association for the Promotion of Sciences and Humanities in Germany (Stifterverband für die Deutsche Wissenschaft) and the Centre for Entrepreneurship, Innovation and Transformation (CEIT) of the Ruhr University Bochum. Innovation Minister Prof. Pinkwart: „The expertise shows: NRW is a strong innovation state. The positive developments in university spin-offs, in research capacities for future topics, in the digi

Oct 13 2020

Location factors, Innovation

Sustainable Investment 2020 – Impact in Focus

Frankfurt am Main The 13th Annual Conference „Sustainable Investment“ of the Frankfurt School Verlag, which took place on 16 September 2020 at the Frankfurt School of Finance & Management, was dominated by the corona pandemic – which was already visible in the „hybrid“ event format, which is popular everywhere, with 80 participants on site and a further 60 online participants. As expected, the influence of the corona pandemic on sustainable investment was also one of the central themes of the event. The programme focused on the progress of regulation, sustainable bonds and, time and again, the impact of sustainable investments. From niche topic to growth driver Last year there was talk of the „beginning of a cultural change“, but since then the topic has clearly gained momentum. Ulrich Martin, Head of C

Sep 25 2020

GFCI 28: German Financial Centers in Top 50 Ranking

Germany Finance Once every six months, the Z/Yen Group publishes a new Global Financial Centres Index (GFCI). The ranking has been published in cooperation with the China Development Institute since 2007 and is based on online questionnaires and data from over 120 indices. The index compares the competitiveness of financial centers worldwide and shows the progress of the leading financial centers. This ranking also includes a large number of German financial centers among 111 financial centers. The 28th GFCI was published on September 25, 2020, and once again german financial centers were able to achieve successful rankings and hold their own in international comparison. Frankfurt, for example, finds itself in the top 20 in the ranking with place 16, Hamburg reaches place 29 and Stuttgart can also positio

Sep 22 2020

Fin- und InsurTech, Event

Partnership with Astana

Stuttgart September 22, this year, marked the successful start of the cooperation between the financial centers of Astana and Stuttgart. Both financial centers signed the MoU partnership agreement. The aim of this partnership is to promote each other at regional and international level, to benefit from the exchange of best practices and knowledge and to invest in the innovative strength of the financial centers. The focus of the cooperation will be on topics like FinTech, Sustainable Finance and Education. Astana is already connected to many global financial centers, including Frankfurt, London, Paris, Seoul, Bangkok, Beijing, Istanbul, New Delhi and Dubai. As the financial center for Central Asia, Astana plays an important role in positioning itself as a global center for business and finance. With

Sep 18 2020

FinTechGermany Awards presented

Frankfurt am Main Top performance in difficult times: Eight financial start-ups received the FinTechGermany Awards in Frankfurt on Thursday evening – the most important FinTech award in the German-speaking countries for five years. At the awards ceremony in the Tatcraft New Hardware Studios, over 200 FinTech and InsurTech enthusiasts, bankers and investors celebrated the winners. The livestream was followed by numerous interested people. The award was presented in eight categories: Seed Stage Tangany Early Stage Myos Late Stage Penta Growth Stage Raisin Foreign New Entrant to Germany Qonto Insurtech Getsafe Artificial Intelligence Hawk AI Blockchain Cashlink In total, more than 220 startups and scaleups from Germany and around the world had applied or were nominated by the jury at the be

Apr 28 2020