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Invest Cyprus 30/04-30/03/2019

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Fintech100 Leaders Pave the Way Towards Innovation

Fintech100 Leaders Pave the Way Towards Innovation

Leveraging a promising perspective, 2017’s Fintech100 were announced last month by Fintech Innovators, a collaboration between fintech (financial technology) investment firm H2 Ventures and KPMG Fintech. This year’s Fintech100 includes 41 companies from Europe, Middle East and Africa (EMEA), 29 companies from North and South America (Americas) and 30 companies from Asia Pacific (ASPAC), including Australia and New Zealand.

The Fintech100 includes the “Leading 50” fintech firms worldwide, ranked based on innovation, capital raising activity, size and reach; plus the “Emerging 50”, exciting new fintechs that are at the forefront of innovative technologies and practices and are often pursuing new business models.

Not surprisingly, Chinese fintechs take the top 3 places on the list and Chinese firms account for 5 of the top 10 (Ant Financial – China, ZhongAn – China, Qudian – China, Oscar – USA, Avant – USA, Lufax – China, Kreditech – Germany, Atom Bank – UK, JD Finance – China, Kabbage – USA). ASPAC is on the rise, with 30 fintechs on this year's list, while the UK and EMEA dominate the “Emerging 50” with 26 companies. The USA placed 19 companies on the full list and 3 in the top 10. Fintechs focused on disrupting traditional models represent 73 of the Fintech100 while lending and payments focused companies continue to lead in terms of sectors, with 32 and 21 respectively on the full list. 15 companies are in transactions/capital markets and 12 are in insurtech.

Ian Pollari, Global Co-Lead of KPMG Fintech, commented: “Disruptive fintech companies continue to dominate the Fintech 100, representing strong interest from investors in business models and management teams that are seeking to radically change the industry paradigm…[In addition, the presence of]…“enablers” - companies working in cooperation with financial services institutions to steadily improve products and services - has remained steady. Across the 2017 list, there are 27 such “enablers” working across accounting, insurance and banking”.

Ben Heap, Founding Partner at H2 Ventures said among others: “…[the Fintech100 list demonstrates] a strong reflection of the diversity of fintech innovation. There are fintechs with lending and payment platforms, insurtech, digital banking and companies applying Big Data to fintech. Superior data and analytics capability notably will be a requirement to be a great financial services firm in the future, be it a traditional bank or a…fintech start-up.”

Pangratios Vanezis, Board Member and Fintech partner in KPMG in Cyprus said: “Global fintech innovation continues to accelerate while a growing number of financial institutions have already shaped a comprehensive strategy around fintech. At KPMG in Cyprus we supported fintech innovation and the entrepreneurial activity around it very early on. We have highlighted insurtech as a primary area of potential innovation in Cyprus. In this respect, we are establishing and organizing an innovative week-long event titled “Hackathon CY #InsurTech”, taking place in the forthcoming January. The event is expected to bring together insurance professionals, fintech leaders, technology companies, data owners and investors as well as start-up businesses and teams, to develop and enhance fintech/insurtech solutions focusing on realizing demonstrable value, including financial and insurance inclusion, customer experience, cost reductions and regulatory (regtech) outcomes”.


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