A new trade association for stakeholders involved in financial technology and payments in Ireland was launched this week.

The FinTech and Payments Association of Ireland (FPAI) described itself as an open and representative body, which is inviting businesses of all sizes and stages of development to join. Startups, scaling and international businesses are all also eligible.

FPAI plans to involve and position itself as a key contributor to the government’s International Financial Services Strategy (IFS 2020).

KPMG is one of the association’s founding members. Anna Scally, partner at KPMG and board director of FPAI, said that Ireland is critically positioned to make the most of the fintech opportunity in Europe.

“We have a vibrant and well-established technology sector, an increasingly healthy financial services sector with global reach and a wave of startup companies achieving international recognition.”

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Scally added: “The government has acknowledged Ireland’s potential fintech and the opportunity for economic growth and employment is clear.

“FPAI will provide a strong, united voice for the growing fintech community and its investors.”

FPAI’s founding board of directors are Anna Scally of KPMG, Colm Lyon of Pay with Fire (and formerly Realex Payments), Morgan Lynch of Senddr and Colm Rafferty of Maples and Calder.

Anna Scally of KPMG, Minister Simon Harris and Colm Rafferty (right) of Maples and Calder