Since sprouting in the US and UK around 10 years ago, fintech has spread
globally. Now, after years of proliferation, countries around the world are
starting to see their fintech industries mature.
Additionally, we continue to see the emergence of new hotbeds for
fintech. This indicates that the space is still far from being fully developed,
and that there are many new ways in which startups and their technologies
continue to change financial services.
The fact that many new players are emerging in the space also suggests
that attention is shifting away from the main countries where fintech is
prevalent, and that investors are seeing the potential of newer, conventionally
The spread of fintech can be largely seen in the emergence of fintech
hubs — cities where startups, talent, and funding congregate — which 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.
In The Global Fintech Landscape, Business Insider Intelligence compiles various fintech
snapshots, which together show the global proliferation of fintech, and
illustrate where fintech is starting to mature and where it is just breaking
onto the scene. Each snapshot provides an overview of the fintech industry in a
particular country, 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
Here are some of the key takeaways from the
- Besides the US and
UK, there are plenty of other countries developing strong fintech hubs.
Australia, Switzerland, and China, which are profiled in this report, have
managed to leverage their stable financial centers of Sydney, Zurich, and
Shanghai, respectively, to spur fintech development and attract funding.
- There are also a
number of emerging fintech markets, including Brazil, Israel, and Canada,
that are likely to play a big part in the global fintech ecosystem in the
future. These countries have nascent but rapidly developing fintech hubs,
as well as supportive regulatory environments, that could help them cement
strong positions in the broader fintech scene.
- Many more fintech
hubs will likely morph into big fintech players. This could push investors
to increasingly wake up to the opportunities in new markets, leading
fintech funding to become more diversified in the future, particularly
outside of the UK and US.
here for the original article from Business Insider.