Minister D'Arcy leads Enterprise Ireland fintech trade mission to Frankfurt Germany
8th May 2018
13 Irish companies participate in mission designed to strengthen commercial relationships between Irish financial services companies and German retail banks.
Michael D’Arcy T.D. Minister of State at the Department of Finance is leading a delegation of 13 Enterprise Ireland client companies on a one-day trade mission to Frankfurt, Germany today (8th May 2018).
The Enterprise Ireland client companies are travelling to gain a deeper insight into the banking ecosystem in Frankfurt, build on existing relationships with their banking partners and access new contacts from the leading German retail banks that wish to learn more about Irish financial technology companies.
Speaking prior to his first engagement Minister D’Arcy said; “This Enterprise Ireland trade mission to the financial capital of the Eurozone provides the opportunity to highlight Ireland as a world-class provider of innovative financial products and services internationally, promoting Irish fintech solutions to German retail banks. Driving continuous innovation and research in the international financial services industry is also a key priority for the Government as outlined in the IFS2020 Action Plan for 2018.
“The business links between Ireland and Germany are deep and extensive - Germany is the third largest foreign direct investor in Ireland with German companies employing some 12,000 people in Ireland while 100 Irish companies employ more than 14,000 people in their operations in Germany highlighting that trade really is a two-way street. I am delighted to have the opportunity to engage with key decision makers in German retail banking, further enhancing this relationship.”
Highlights of the mission include, a courtesy meeting with the European Central Bank where topics such as the Government’s most recent initiatives driving Ireland’s competitiveness in the IFS sector will be discussed, and a visit to the Techquartier fintech Hub to understand how to access decision-makers in the leading financial centre in Europe and in Germany.
Minister D’Arcy will address the Enterprise Ireland “Innovation in Retail Banking” conference where Irish companies with Software Solutions or Services will present to an audience of senior executives from leading Retail Banks in Frankfurt.
According to Niall O’Donnellan, Enterprise Ireland, “this conference is a valuable platform to showcase Irish capabilities in the Retail Banking sector, providing valuable insights to executives about disruptive innovation and how the financial services landscape is changing through the introduction of new technologies. Germany is the third most important international market for Enterprise Ireland client companies, who have grown their sales to this important market by an annual average of 8.6% over the past five years. This trade mission is a component of Enterprise Ireland’s Eurozone strategy, supporting Irish companies to expand their reach into new markets to deepen their presence and scale their exports into the Eurozone in preparation for the post-Brexit era”.
The trade mission will come to a close with a major networking event with over 80 guests to deepen existing relationships in the region and establish new connections with decision makers from Germany’s retail banks.
Notes to Editor
About Enterprise Ireland:
Enterprise Ireland is Ireland’s national export agency, responsible for the development and growth of Irish enterprises in world markets.
With over 30 offices worldwide, our local sectoral specialists work with international customers to understand their unique challenges and match them with Irish suppliers that can deliver leading edge products and services.
Our goal is to simplify and enhance the purchase process for international customers and build successful, long-term business relationships between international companies and Irish suppliers.
About Ireland’s Fintech Sector:
Ireland is a globally-recognised centre for specialist International Financial Services (IFS). Enterprise Ireland, the agency with responsibility for the development of Irish-owned businesses internationally, has over 200 clients operating in the IFS space, including start-ups, scaling, and large multinational Irish companies, a significant number of whom are based regionally. These companies combined employed nearly 10,000 people at the end of 2017 and are exporting to over 100 countries worldwide, with sales exceeding €1 billion in 2017. The UK and North American markets are important markets, with Europe and Asia Pacific, featuring strongly in export figures last year.
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