KEY POINTS

  • Fintech hubs — cities where startups, talent, and funding congregate — are proliferating globally in tandem with ongoing disruption in financial services. These hubs are all vying to become established fintech centers in their own right, and want to contribute to the broader financial services ecosystem of the future. Their success depends on a variety of factors including access to funding and talent, as well as the approach of relevant regulators.
  • This report compiles various fintech snapshots, which together highlight the global spread of fintech. Each provides an overview of the fintech industry in a particular country or state, and details the evolution of its development. We also include notable fintechs in each geography, and discuss what the opportunities or challenges are for that particular domestic industry. These jurisdictions are home to some of the most promising fintech hubs in the world, and are likely to play a significant and ongoing role in shaping the global industry.
  • Most countries in Europe have made some formal effort to stimulate the development of their domestic fintech industries. However, there are clear leaders when it comes to fintech hubsLondon, Berlin, and Dublin stand out as cities with significant fintech activity, for example, while Paris is on the rise. The countries that house these hubs have worked hard to encourage their development, and much of their success can be attributed to support from their national governments. As a note, the UK is not covered in this report due to our extensive coverage of the country's fintech industry in our daily briefings and other content.
    • Germany is increasingly establishing its credentials in the fintech sector. National financial regulator BaFin has clearly laid out regulatory requirements for fintechs wanting to operate in the country, while venture capital (VC)-backed funding for German fintechs increased 118% in 2016. Major hubs in the country include Berlin and Frankfurt.
    • France got off to a slow start in fintech, but that's starting to change. Spurred in part by the potential opportunity offered by Brexit, the country has launched a campaign to promote itself as a future European fintech leader. Much like in the UK, France's fintech industry is currently centered on one major city, Paris.
    • Ireland is in the midst of establishing a thriving fintech ecosystem. [...]