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Fintech hubs — cities where startups, talent, and funding congregate — are proliferating globally in tandem with ongoing disruption in financial services.
These hubs are all vying to become established fintech centers in their own right, and want to contribute to the broader financial services ecosystem of the future. Their success depends on a variety of factors, including access to funding and talent, as well as the approach of relevant regulators.
This report compiles various fintech snapshots, which together highlight the global spread of fintech, and show where governments and regulatory bodies are shaping the development of national fintech industries. Each provides an overview of the fintech industry in a particular country or state in Asia or Europe, and details what is contributing to, or hindering its further development. We also include notable fintechs in each geography, and discuss what the opportunities or challenges are for that particular domestic industry.
Here are some of the key takeaways:
Most countries in Europe have made some formal attempt to foster the development of domestic fintech industries, with Germany and Ireland seeing the best results so far. France, meanwhile, got off to a slow start, but that’s starting to change.
The Asian fintech scene took off later than in the US or Europe, but it’s seen rapid growth lately, particularly in India, China, and Singapore.
The increasing importance of technology-enabled products and services within the financial services ecosystem means the global fintech industry isn’t going anywhere.
Fintech hubs will continue to proliferate, with leaders emerging in each region.
The future fintech landscape will be molded by regulatory bodies — national and international — as …read more
Source:: Business Insider