20 November 2017
visit www.avoka.com

Fintech hubs go under the microscope

27 September 2016  |  9950 views  |  0 light bulbs

London, Singapore, New York, Hong Kong and Silicon valley have been ranked as the world's top fintech hubs, although specialist niches are emerging in Belgium, Ireland, and Shanghai, according a report by Deloitte.

The study is the first output of the Global Fintech Hubs Federation, an initiative by Swift's innovation arm Innotribe and the UK's Innovate Finance to create a cross-border and open platform that brings established and emerging hubs together.

The report provides an overview of the fintech hubs emerging globally, with an analysis of local market facts, figures and future trends as well as an index performance score that determines the ease of growing a fintech business in each hub.

The top five hubs ranked by Deloitte come as no surprise, operating in markets with strong financial centres, local talent pools and support from government and regulatory agenices.

Lower down the scale, up-and-coming fintech centres are growing through a focus on particular technologies or areas of innovation within their own local market. For exaple, Belgium has a strong capability within identity management and KYC; Ireland in servicing the asset management industry; and Shanghai in payments. Hubs such as South Korea are adopting a top-down approach, with the licensing of two new internet banks to help drive the FinTech ecosystem.

Bottoming-out the index are under-nourished ecosystems in Mexico, South Africa, India, and Kenya.

"Our analysis of the global hubs has concluded that strong government support at the early stage of ecosystem formation is essential," notes the report. "Once the hub is established, government support, progressive regulations, a culture of innovation and collaboration, and strong financial services and private investors are the ingredients that enable the growth of a fintech hub."

Read the full report:» Download the document now 5.6 mb (PDF File)

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MarvelStone Group to launch 'world's largest' fintech hub in Singapore

MarvelStone Group to launch 'world's largest' fintech hub in Singapore

21 September 2016  |  5902 views  |  0 comments | 7 tweets | 2 linkedin
Global Fintech Hubs Federation launches

Global Fintech Hubs Federation launches

25 August 2016  |  10163 views  |  0 comments | 22 tweets | 5 linkedin
Switzerland needs to become more fintech friendly or risk irrelevance

Switzerland needs to become more fintech friendly or risk irrelevance

08 February 2016  |  8458 views  |  0 comments | 23 tweets | 8 linkedin
Regulatory overhaul needed to make the Netherlands a fintech hub - report

Regulatory overhaul needed to make the Netherlands a fintech hub - report

22 January 2016  |  12423 views  |  2 comments | 36 tweets | 15 linkedin
Toronto failing to create proper fintech ecosystem - report

Toronto failing to create proper fintech ecosystem - report

06 November 2015  |  7802 views  |  0 comments | 13 tweets | 7 linkedin
Stockholm stakes claim as European fintech hub

Stockholm stakes claim as European fintech hub

23 June 2015  |  9257 views  |  0 comments | 23 tweets | 15 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.aciworldwide.comvisit www.atos.net

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
18449 views comments | 28 tweets | 31 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
12733 views comments | 16 tweets | 29 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11297 views comments | 15 tweets | 41 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9126 views comments | 26 tweets | 37 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
8514 views comments | 15 tweets | 31 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job