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Fintech centers – cities where start-ups, talents and funding get together – are proliferating globally along with the continued disruption of financial services.
These hubs are all struggling to become well-established Fintech centers and want to contribute to the broader financial services ecosystem of the future. Their success depends on a variety of factors, including access to finance and talent, as well as the approach of the competent regulators.
This report collects several snapshots of fintech, which together highlight the global spread of fintech, and show where governments and regulatory bodies are shaping the development of national factories of fintech. Each provides an overview of the fintech industry in a particular country or state in Asia or Europe, and provides details on what is contributing or hindering its further development. We also include fintech in each geographical area and discuss what are the opportunities or challenges for that particular national industry.
Here are some of the key suggestions:
- Most European countries have made a formal attempt to foster the development of national fintech industries, with Germany and Ireland having seen the best results so far. France, meanwhile, started slowly, but it is starting to change.
- The Asian fintech scene took off later than in the United States or Europe, but lately there has been rapid growth, particularly in India, China and Singapore.
- The increasing importance of technology-enabled products and services within the financial services ecosystem means that the global fintech industry is not going anywhere.
- Fintech's hubs will continue to proliferate with emerging leaders in each region.
- The future landscape of fintech will be modeled by regulatory bodies – national and international – as they seek to mitigate risks and take advantage of the opportunities offered by fintech.
Broadly, the report:
- Explore the fintech industry in six countries or states and identify the individual fintech hubs.
- Highlights the successful fintech in each region.
- Describes the challenges and opportunities that each country or state faces.
- Provides information on the future of the global fintech industry.