Milan is home to the Italian Stock Exchange (part of the London Stock Exchange), which has 455 listed companies and a market cap of over €688 billion. Borsa Italiana has been acquired by Euronext recently, becoming the largest revenue contributor of the Combined Group, thus playing a key role in its future operations, strategy and governance. 

Milan is home to major financial institutions such as Unicredit, Mediobanca, Banca BPM and Intesa Sanpaolo, as well as global players like BNP Paribas, HSBC, Citibank and ING.

Banca d’Italia recently introduced “Target Instant Payment Settlements”(TIPS), which guarantees almost immediate settlement and is leading to exponential growth of new payment systems. As a result, Milanese fintech firms, such as Satispay and Nexi, are at the vanguard of smart payment solutions.

• Smart payment companies’ revenues have grown 38% year-on-year.

• In 2017, mobile proximity payments grew 600% year-on- year, and are expected to reach €15bn within 5 years.

Milan’s alternative lending sector is strong and mature, with 75% of revenues generated by companies which are more than five years old. The revenues of this sector have grown 29% year-on-year. The city is home to numerous alternative lending companies which enable credit scoring, focus on business and/ or consumer lending, do invoice financing and offer comparison tools and marketplaces.

The Italian insurtech market has seen exponential growth in recent years, with insurtech companies’ revenues growing 97% in 2016, 71% in 2017 and 46% in 2020. Moreover, between 35 and 45% of Italians say they are willing to share personal data in exchange for more tailored insurance policies.