Can Europe really become a fintech capital?
Finance

Can Europe really become a fintech capital?

Technological advancements are revolutionizing financial services right around the globe, and as a result, the term “fintech” has been coined. It predominantly refers to rise of digital banking, investing and cryptocurrency platforms. Systems are also being used to automate insurance, risk management and trading.

According to research from VBProfiles, there are more than 1,000 high-growth fintech companies across the globe. Over the past few years, they’ve raised over $105 billion in funding and are worth $870 billion combined. The same report names the UK, New York and France as the biggest fintech hubs.

There’s certainly a lot of potential here, and global governments clearly understand that. The European Commission, for example, recently confirmed that it is drafting new measures to capitalize on this rapidly-expanding sector. It wants to convince fintech companies and research projects to set up shop in Europe by providing new investment opportunities and best practices.

Mexico joins countries like Germany in its new move to regulate fintech. Check out: Fintech regulation could drive competitive growth in Mexico

European officials want to “enable innovative business models to scale up, support the uptake of new technologies, increase cyber security and the integrity of the financial system”. They’re preparing to launch a dedicated fintech lab to boost innovation in the area as well. These are, of course, ambitions aims. So the question is, can Europe really become the world’s fintech capital?

To continue reading...


Please login or register to view your article. If you do not have or do not remember your password, please click on the “Forgotten your password?” link at the bottom.
If you do not yet have a password but are an existing user, please use the “Forgotten your password?

PREVIOUS ARTICLE

«The growth in Cloud doesn’t mean the end of On-Prem

NEXT ARTICLE

CIO spotlight: The IT bullying problem that needs more attention »
Nicholas Fearn

Nicholas is a technology journalist from the Welsh valleys. He's written for a plethora of respected media sources, including The Next Web, Techradar, Gizmodo, Lifehacker, TrustedReviews, Alphr, TechWeekEurope and Mail Online, and edits Wales's leading tech publication. When he's not geeking out over Game of Thrones, he's investigating ways tech can change our lives in many different ways.

Add Your Comment

Most Recent Comments

Our Case Studies

IDG Connect delivers full creative solutions to meet all your demand generatlon needs. These cover the full scope of options, from customized content and lead delivery through to fully integrated campaigns.

images

Our Marketing Research

Our in-house analyst and editorial team create a range of insights for the global marketing community. These look at IT buying preferences, the latest soclal media trends and other zeitgeist topics.

images

Poll

Should the government regulate Artificial Intelligence?