The market for Analytics and Research as well as data and risk management is an emerging and fast-growing one. It is probably currently the most dynamic Fintech market in Spain, especially within the large companies.
Under Spanish law, data and risk management or analytic and research services do not require a license or an authorisation however the data protection regulation has to be complied with as it plays an important role in this type of Fintech company. The relevant regulation is the EU General Data Protection Regulation (“GDPR”), which entered into force in Spain on 25 May 2018, and the Spanish Law 15/1999, of December 13, on Personal Data Protection that regulates the processing of personal data. Data processing means any operation or procedure (whether automated or not) for the collection, recording, storage, elaboration, modification, blocking or erasure of data. It also includes disclosure of data resulting from communications, queries, interconnections or transfers. Compliance with and enforcement of Spanish Data Protection law is managed by the Spanish Data Protection Agency.
The market for Analytics and Research as well as data and risk management is an emerging and fast-growing market.
FinTechs to consider are Synergic Partners, Geoblink, Carto and Imath Research.