About the FPAI

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