Answer ... Most of the innovation in the fintech space relates to software development. In Spain, software is considered an IP right and is protected under the Intellectual Property Law (1/1996).
Moreover, as a result of the recent enactment of the Law on Trade Secrets (1/2019), software, code and algorithms, and commercial know-how will all benefit from broader protection in Spain.
Answer ... Innovation in the fintech space is incentivised mainly through the roll-out of multiple acceleration and incubation programmes by financial entities and private investors, and more recently through specific initiatives of the public administrations.