Who We Are
The Fintech and Payments Association of Ireland ("FPAI") is a not for profit organisation established to
further the interests of the stakeholders in the Irish FinTech ecosystem who comprise its members. The
FPAI activities are undertaken by a company limited by guarantee (Fintech and Payments Association of
Ireland CLG) through its board of directors (the "FPAI Board"). The FPAI currently does not have an
executive function and all of the members of the FPAI Board fulfil their role on a non-executive basis
without remuneration.
History
The FPAI was initially established by a number of stakeholders active in the FinTech sector in Ireland in
early 2015. This initiative was co-ordinated by professional services firms Maples and Calder and KPMG
with the initial support of a number of high profile indigenous Irish technology companies, Irish and
international financial institutions and interested individuals.
In mid 2015 the FPAI merged with an existing not for profit organisation focused on the payments
industry (Payments Ireland) which was established by the well-known Irish technology entrepreneur Colm
Lyon, founder of Realex Payments. At the same time the association joined with the FinTech-Ireland meet
up group which was established by Morgan Lynch, CEO of Irish FinTech start-up Senddr.
These constituencies came together with the support and encouragement of both Enterprise Ireland, the
IDA and the Department of Finance. The Government's strategy for International Financial Services
launched in March 2015 ("IFS2020 – a new Strategy for Ireland's International Financial Services
Sector") specifically calls out the need to ensure that there is a co-ordinated approach to growth of the
sector and extensive stakeholder consultation. The FPAI incorporating both Payments Ireland and the
FinTech-Ireland meet up group emerged as an organisation with a mandate to facilitate the consultation
with stakeholders required by IFS2020.
The organisation was publicly launched in September 2015 by the initial steering committee and the
Minister for State for International Financial Services Simon Harris TD and opened for general
membership.
The Irish FinTech Ecoystem
Fintech in its broadest articulation comprises every area of technology and innovation in the financial
services arena, from payments, trading and FX, big data, risk, compliance and business intelligence to
consumer-focused currency exchanges and peer to peer lenders. In Ireland we have a deep heritage in
growing financial services businesses in the International Financial Services Centre and an equally strong
history in establishing and scaling Irish technology companies focused on foreign markets. We are lucky
to have a diverse range of market participants who see Fintech as the context for their own innovation or at
least a source of innovation from which they can benefit.
The Fintech Ecosystem Comprises:
- (a) indigenous Irish early stage and scaling technology companies;
- (b) indigenous Irish later stage technology companies;
- (c) multi-national technology companies with operations in Ireland;
- (d) indigenous financial institutions;
- (e) international financial services companies with operations in Ireland;
- (f) venture capital and private equity investors; and
- (g) relevant intermediaries and service providers
