This is a preview of the Global Fintech Landscape report from Business Insider Intelligence, Business Insider’s premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can log in and read the report here.
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 untapped markets.
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.
Source: Business Insider