KPMG: Baltics be­come more ac­tive in Fin­Tech sec­tor

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The most rapidly grow­ing ar­eas of fi­nan­cial tech­nolo­gies or Fin­Tech are lend­ing, pay­ments and in­sur­ance, as well as the new RegTech sec­tor, which cov­ers the de­vel­op­ment of reg­u­la­tor tech­nolo­gies and solutions, ac­cord­ing to the FinTech100 list jointly put to­gether by KPMG and H2 Ven­tures.

The study shows that in­vestors around the world now in­vest more cap­i­tal into Fin­Tech com­pa­nies. In the past twelve months, com­pa­nies in­cluded in FinTech100 have at­tracted USD 14.6 billion in in­vest­ments.

«We have no­ticed that Baltic States have be­come ac­tive in Fin­Tech sec­tor. Lat­vian and Es­to­nian com­pa­nies en­gaged in this field are es­pe­cially no­tice­able. It is in­ter­est­ing that the largest num­ber of emerg­ing com­pa­nies in the Baltic re­gion is noted in ac­count­ing ser­vice and elec­tronic pay­ments seg­ment. The big­gest sto­ries of suc­cess for­eign fund­ing at­trac­tion-wise in­clude Bit­tFury and Trans­fer­Wise. Thanks to Lat­vian-based Min­tos and Twino com­pa­nies, the Baltic re­gion has un­der­gone an up­ris­ing in al­ter­na­tive loan seg­ment,» – com­ments KPMG Baltics trans­ac­tions con­sul­ta­tion di­rec­tor Julija Masane-Ose.

FinTech100 list shows that the boom of new fi­nan­cial tech­nolo­gies com­pa­nies is no­ticed all over the world. One of bright­est qual­i­ties no­ticed in FinTech100 is the rel­a­tively large pro­por­tion of com­pa­nies that as­sist ex­ist­ing mar­ket par­tic­i­pants. The fact that 92% of the lead­ing 50 com­pa­nies be­long to the ‘rev­o­lu­tion­ar­ies’ pro­vides a sig­nal to the fi­nan­cial sec­tor that now is the time to in­tro­duce in­no­va­tions of­fered by Fin­Tech. This is good news for con­sumers, be­cause new solutions and ideas help sat­isfy clients’ needs more ef­fec­tively, cre­ators of the list say.

TOP 10 fi­nan­cial tech­nol­ogy com­pa­nies of 2016 are: Ant Fi­nan­cial, Qu­dian, Os­car, Lu­fax, ZhongAn, Atom Bank, Kred­itech, Avant, Sofi and JD Fi­nance.

Even though Fin­Tech sec­tor con­tin­ues to rapidly grow in the world, the mar­ket re­mains largely dominated by new Chi­nese fi­nan­cial tech­nol­ogy com­pa­nies. Four out of five TOP10 Fin­Tech com­pa­nies come from China – Ant Fi­nan­cial, Qu­dian, Lu­fax and Zhong An.

FinTech100 con­sists of com­pa­nies that have man­aged to cre­ate world-class changes in the fi­nan­cial ser­vices sec­tor us­ing new tech­nolo­gies. The main as­sess­ment cri­te­ria used for FinTech100 in­clude at­tracted cap­i­tal, ge­o­graph­i­cal and sec­to­rial va­ri­ety, as well as the level of in­no­va­tions used to en­hance com­pet­i­tive­ness.


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