With a strong tech ecosystem as its backbone and a huge market base coupled with the growth of formal financial services fs, the indian fintech market offers immense potential. Assess the fintech ecosystem, identify the trends and opportunities, understand the macroeconomic and digital factors driving the fintech. Emerging technologies disrupting the financial sector. The report gives an overview of the fintech landscape in thailand, where ey teams use the fourstep approach in analyzing the ecosystem. The city boasts a huge network of customers and funding opportunities, and is an easy market for doing business. The future of financial services how disruptive innovations are reshaping the way financial services are structured, provisioned and consumed an industry project of the financial services community prepared in collaboration with deloitte final report june 2015. The fintech sector has a very high growth potential in vietnam and will continue to attract funding, especially from venture capital funds. Fintech has evolved in significant ways since we published our first global ey fintech adoption index in 2015. Fintech brings about a new paradigm in which information technology is driving innovation in the financial industry. All four critical elements for a fintech ecosystem are already in place. It also improves the countrys overall competitiveness. Finding the right partners for collaboration is essential 44 a partnership ecosystem of fintechs, incumbents. Finding the right partners for collaboration is essential 44 a partnership ecosystem.
In the gcc, where fintech ecosystems have yet to take root, governments will have to play a more significant role than in established markets. Are companies able to keep pace with the rapidly changing fintech ecosystem. Working with the right partners can make or break a fintech business. The analyses in this report are based on data from venture. The ecosystem is still forming and there are a few players in each category which allows for growth and opportunities for new entrants. In the latest edition of the fintech ecosystem report, business insider intelligence details recent. The active participation and support of each player are required to advance fintech. This report will facilitate hubs to think global and act local. Fintech reloaded traditional banks as digital ecosystems 6 june 9, 2015 current issues this is the road to the modern banking ecosystem having analysed both the new market participants from the nonbank sector and the accompanying opportunities, risks and challenges of digital structural. Bundling fintech with the consumption needs of the mass segment 30 1. Business insider intelligence offers even more fintech coverage with. For a fintech ecosystem to function, it is imperative that each participant clearly understands its role, as well as the. The reports findings have been widely quoted, and succeeded in raising georgia fintechs stature on the national stage.
Jun 26, 2018 fintech indonesia report map of fintech companies in indonesia. The fintech ecosystem is fostering actors transforming the financial industry through digital innovation. In a report released in may, the hong kong financial services development council said that in order for hong kong to become a leading fintech hub it needed to focus on key areas in fintech instead of trying to become a fintech generalist. Fintech startups dont just need capital, they need customers. Accelerating development in montreals fintech ecosystem. Mar 29, 2016 if these circumstances continue, fintech may experience a bubble like so many technologies before it, where the knowledge in the field is paid extremely high because it is so rare. A healthy fintech ecosystem requires all stakeholders to work together on problems, align on visions and support each other. Fintech indonesia report 2018 the state of play for fintech.
North east fintech ecosystem report 20192020 whitecap. Traditionally, customers turned to banks as their primary provider of bundled financial services. The playbook describes the pillars of the fintech ecosystem, including, demand. Fintech in hong kong 2017 startup and ecosystem report and.
As eys uk and swiss studies, we strove to identify the key characteristics of montreals fintech ecosystem and make recommendations to accelerate growth and differentiate montreal from other leading fintech centres. These innovations are enabling novel generations of products and new ways to. Open x as ecosystem partnerships become more accepted and valued, the industry is rebundling services. When examining the fintech ecosystem figure 2, the key players are evident. It affects almost every financial activity, from banking to payments to wealth management. Introducing the worlds 1st global ranking of fintech ecosystems.
Understand the technology driving the disruptive change in your industry. The report uncovers eight disruptive forces that have the potential to shift the competitive landscape of the financial ecosystem. Africa is home to 491 fintech startups, which are together building a new vision for the financial services industry in africa. Doing so encourages entrepreneurial activity and hiring by financial services and technology firms. Also, in the fintech ecosystem companies and solutions are somewhat clustered.
A successful fintech ecosystem is where all the market participants connect, engage and share ideas across vibrant communities and networks, as well as identify and convert opportunities into business. Business insider intelligence offers even more fintech coverage with our. The fintech ecosystem comprises of fintechs, three stakeholders, four enablers and funding partners. Hong kong is not only an international finance hub, but also a technologically. Reimagining the african financial services landscape report considers data compiled by disrupt africa over four and a half years on fintech. Fintech ecosystem ranking global fintech hubs beijing china 1 1 4 4 san francisco usa 2 2 10 2 new york usa 3 3 11 1 london uk 4 4 8 3. Pdf the ey fintech ecosystem playbook explores the fintech landscape. The annual fintech report is our attempt at providing handy guide to anyone whos interested to learn more about malaysias fintech scene.
From major funding announcements to ground breaking events to new policy directions, the space has clearly been a busy one. The brochure convenes knowledge and perspectives from industry leaders across the domestic. At portugal fintech, we put efforts into leveraging the fintech ecosystem s potential, generating value through strong market cooperation. However, the gcc does have an advantage over other emerging markets. The malaysian fintech ecosytem has grown considerably since we started fintech news malaysia 2 years ago and we are optimistic that its poised to grow even further. Ecosystem for the fintech industry hong kong is not only an international finance hub, but also a technologically advanced center for logistics and communications. This report will examine the fintech ecosystem in detail. Fintech companies looking to expand in south east asia would be remiss if they were to overlook the fintech indonesia scene as a potential market. The report cited wealthtech, regtech and cybersecurity as some of the main subsegments worth.
Assess the fintech ecosystem, identify the trends and opportunities, understand the macroeconomic and digital factors driving the fintech development at. Ecosystem, business models, investment decisions, and. Fintech ecosystem to understand the competitive and collaborative dynamics in. Leeds city region fintech ecosystem report 20192020. Building upon a range of data sources, including kpmgs pulse of fintech report and the results of kpmgs global survey of fintech activities in financial institutions, the report is based on more than 40 interviews with fintechs, incumbent financial services companies, industry associations, government. The fintech state of the nation is a comprehensive summary of the uks fintech industry to help inform stakeholders for trade and investment and demonstrate the uks attractiveness as a. The future of financial services how disruptive innovations are reshaping the way financial services are structured, provisioned and consumed an industry project of the financial services community prepared in collaboration with deloitte final report. In 2012 the technology association of georgias fintech society issued a white paper documenting the impact of georgias fintech ecosystem on the states economy and its leading role in global financial operations. Similar to its other southeast asian counterparts like singapore and malaysia, payments and lending dominates a large portion of the fintech ecosystem. The year 2018 has been an interesting one for fintech startups in africa. Digital payment solutions is the current leading segment. Fintech has the potential to upend established hierarchies in the finance. Our next report, in 2017, found that the industry had grown rapidly and had achieved initial mass adoption. Startup ecosystem rankings report, the index published by.
The narrative of disruption no longer dominates fintech chatter as it did a few. The future of financial services world economic forum. Our inaugural world fintech report in 2017 highlighted the transition to the third phase, where we. Competition issues in the area of financial technology fintech policy department for economic, scientific and quality of life policies. For the fintech ecosystem, i bring bankers and fintech startups together in environments conducive to learning and pilots accelerators. The state of the turkish fintech ecosystem will be used as a case to determine the components of a healthy fintech ecosystem. In our 2016 state of georgias fintech ecosystem report we declared georgia ready for its close up. Melissa craig creating value in the b2b fintech ecosystem.
Tech nation6 in 2019 confirmed the uk remains global leader for scaleup investment into fintech firms, generating. World fintech report 2018 the symbiotic relationship between fintechs and traditional financial institutions 35 maintaining and accelerating scale is a common fintech firm struggle, so the right collaboration partner is critical. Breaking down the ecosystem in this report, you will gain a deeper understanding of the canadian paytech ecosystem. The elements of a fintech ecosystem many of the necessary elements exist in the gcc to develop fintech ecosystems. Evan bakker of bi intelligence, business insider s premium research service, has written a new report entitled the fintech ecosystem report. Jun 26, 2017 in a report released in may, the hong kong financial services development council said that in order for hong kong to become a leading fintech hub it needed to focus on key areas in fintech instead of trying to become a fintech generalist. The fintech ecosystem report from bi intelligence in this report, we provide a detailed overview of the fintech ecosystem, explain the challenges and opportunities for incumbents and startups, and. What you need to know about the fintech ecosystem centric. They are selected from more than 70 observed cities. There is no clear winner when it comes to fintech today. This report focuses primarily on the activity in the geographical area covered by the west of england economic area and uses economic data from this region, supplemented by our own primary research.
A guide to the payments and fintech landscape in nigeria. Fintech companies have been founded, turning into a hotbed of entrepreneurial activity. Every organization has the opportunity to forge a new fintech future and win against their competition. We hope this report inspires you to connect and engage with the portuguese fintech community. Thank you to the organisations who have supported and cofunded this research. World fintech report 2019 an evolving open banking ecosystem is setting the course for the future. At the same time, there is a growing awareness of the importance of regulatory capabilities, innovative environment, and the availability of digital infrastructure, which may be fundamental for the sustainable development. This is the interactive data explorer tool for the global fintech survey 2016, launched in march 2016. The ey fintech ecosystem playbook explores the fintech landscape across various emerging markets across the globe. Fintech indonesia report 2018 the state of play for. Overview and lessons learnt from global fintech landscape.
This is the third report deloitte and the forum have developed on this topic. Fintech by the numbers methodology for the purposes of this report, we have defined fintech as the ecosystem of perhaps initially small technologybased startup firms that either provide financial services to the marketplace or primarily serve the financial services industry. Leeds city region fintech ecosystem, following our. The report s findings have been widely quoted, and succeeded in raising georgia fintech. With that in mind we hope to help you navigate the indonesian landscape with our latest edition of the fintech indonesia report 2018. In the current age of technology driven financial services, no market participant can afford to operate in silos. The world fintech report 2019 from capgemini and efma explores how the future is moving to a shared marketplace where banks must think beyond open banking and transition to an impending phase we call open x.
Developing a fintech ecosystem in the gcc strategy pwc. This article introduces a historical view of fintech and discusses the ecosystem of the fintech. The participants in a fintech ecosystem establishing and nurturing a fintech ecosystem is difficult given the level of sustained collaboration that is necessary among governments, financial institutions, and entrepreneurs. Competition issues in the area of financial technology fintech. Building upon a range of data sources, including kpmgs pulse of fintech report and the results of kpmgs global survey of fintech activities in financial institutions, the report is based on.
United overseas bank uob, ey, singapore fintech association and the asean fintech network have come together to produce the state of fintech in asean, a reference guide to help you navigate your fintech. It will explore the key factors driving the global fintech revolution, the role of established financial firms and emerging players and the impact of fintech on a range of financial sectors. Incumbents, startups, investors adapt to maturing ecosystem. Ecosystem approach fintech is an ecosystem with many stakeholders that have a vital role in its creation, development, and sustainability. Competition issues in the area of financial technology. Methodologythis paper is designed on a selfreflection methodology. The insights shared in this report are based on responses by.
The report takes in the findings from an industrywide survey of banks and established financial institutions, fintech startups and ecosystem participants alongside insights from over 20 interviews with financial institutions across europe, fintech. This report will define and analyze the paytech sector, and how it has disrupted industries across canada. This report is part of the fintech for social inclusion. That year we observed that fintech, while nascent, was clearly more than just hype. The staffs work on the report was led by jessica renier. Fintech reloaded traditional banks as digital ecosystems.
974 1051 668 796 469 994 65 72 804 1020 866 478 496 1514 562 1297 1315 1009 408 758 1452 127 651 694 607 1530 480 243 1235 1175 1440 1464 1112 466 1148 162 1392 706 1480 1474 46 908 1007 44 220 140