At the start of September 2018, the Portuguese insurance regulator, together with the banking regulator and the securities market commission, entered into an agreement with Portugal Fintech – a network focused on start-ups that connects fintech founders, investors, academics, consultants and legal advisers – to establish Portugal Finlab.

Portugal Finlab is a communication channel which aims to:

  • strengthen dialogue between operators in the financial market (namely start-ups) and Portuguese regulatory institutions; and
  • promote a clearer understanding of the legal and regulatory requirements for new technological projects among innovator companies in the fintech, insurtech and regtech sectors.

Portugal Finlab will be particularly significant for regulators in a fast-growing global market enriched by several emerging industries based on new technologies and innovative models. From an insurance regulatory perspective – where the application of new technological tools is fast increasing, most notably in the health and motor insurance sectors – Portugal Finlab will be a useful tool in ensuring an appropriate balance between innovation and consumer protection in the insurance sector.

How it works

Portugal Finlab seeks to provide a smart and simple response to the globalisation of financial markets that will foster the international growth of start-ups as well as other companies that want to go global, as it enables a direct response from Portugal's three financial regulators.

Projects to be integrated into Portugal Finlab will be selected based on their:

  • need for support;
  • innovative aspects;
  • level of development;
  • risks and benefits for the consumer; and
  • the relevant sector in which they will operate.

Successful projects are expected to receive details of specific regulatory issues, potential obstacles and the critical aspects for implementation from the Portuguese regulators in the form of a single document based on the legal and regulatory sector requirements.


Portugal Finlab is likely to help attract international companies to Portugal, as it focuses on projects designed to promote innovation in the Portuguese financial sector, enabling interaction between financial regulators. In an insurance context, Portugal Finlab should help to promote innovation in the sector without eroding consumer protection.

For further information on this topic please contact Margarida Lima Rego or Nuno Sobreira at Morais Leitão Galvão Teles Soares da Silva & Associados by telephone (+351 21 381 74 00) or email ( or The Morais Leitão Galvão Teles Soares da Silva & Associados website can be accessed at

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