The Top 7 Fintech Hubs Around the World

     

Hottest FinTech Hubs

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Thomson Reuters has identified a list of the hotest Fintech hubs on the planet. Let’s dig into what is a relatively surprising list.

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United Kingdom

London

The UK is the fastest growing region for Fintech.

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Source: EigerFX

Fintech Lumascape for Europe

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66,000 People are employed in UK Fintechs

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Source: CBInsights

New York

New York City

New York has emerged as a real financial innovation hub with the second largest concentration of Fintech startups in the world. There is certainly more space in the Big Apple as the big banks move processing jobs out of the city to Northern New Jersey and Beyond.

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Fintech Lumascape for New York

This is what the impressive Fintech landscape looks like for New York.

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Source: Let's Talk Payments

California

California

With a smaller total Fintech marketplace than New York, California Fintechs attract twice the funding and employ 20% more people overall than New York Fintechs.

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Fintech Lumascape for California

California Fintech

Many of the biggest and most recognizable names in Fintech call California home.

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Source: Let's Talk Payments

 

Germany

As the growth engine of Europe and key driver of the Euro, Germany is more than on the map as a Fintech hub.

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Fintech Lumascape for Germany

Fintech Listicle for Germany

The Fintech scene is Germany is diverse and vibrant with many companies in each Fintech category.

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Source: Let's Talk Payment

Australia

Australia

Australia leads Asia Pacific with the largest investment and number of startups.

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Lumascape for Australia

Australia Lumascape

In December 2015, Australian Fintech Startups garnered 14% of approximately Billion dollars Fintechs raised globally that month.

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Source: Let's Talk Payments

Hong Kong

Hong Kong

Hong Kong is the largest Financial Center is Asia and it isn’t surprising that it is fertile ground for Fintechs.

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Lumascape for Hong Kong

Lumascape for Hong Kong

Hong Kong boasts the highest Fintech adoption rate in the world.

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Source: Let's Talk Payments

Singapore

Singapore

Singapore is home to about 200 bank headquarters and is the second largest Financial Hub in Asia.

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Singapore is actively trying to boost it’s Fintech presence and as Singapore watchers know, what Singapore wants to do, it does.

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Source: Let's Talk Payments; Bloomberg

For our first listicle, we thought it would be interesting to catalog all the Fintech hubs around the world identifying a list of the hubs and what relative number of startups they have created, how much investment they have attracted, and how many people they employ as well as the types of companies that call these Fintech hubs home. So much is written about Fintech that the sources for this information came readily.

We hope that cross-tabbing it, so to speak, by putting it in one place is useful to you. As a Fintech it was certainly interesting to us. Special thanks to Thomson Reuters for their great ranking and Let’s Talk Payments for assembling the best “Lumascapes” out there on these markets.

Looking at this holistically and taking into account that perhaps just one of these companies out of 20 may ultimately make it to help banks reinvent themselves or reinvent what banking is, this is nonetheless, a very impressive list, especially when you look at all the domains these Fintech startups play in. Like Global Warming, if anyone thought, the reinvention of banking wasn’t happening, it’s high time to fully dispel that myth and get on-board.

There is a new era of collaboration with banks that we at Nomis have been a part of for some time. We have always found, as with most things, the answers are in the middle. Banks have a ton of innovators in their midst, but they face the Innovator’s Dilemma and their champions need the energy, drive, and outside-the-box thinking that Fintech startups provide. Fintechs on the other hand generally lack true market access and deep market understanding. They need partnerships with banks to serve more people and gain the wisdom to make lasting impacts. 

About The Author

Ken is our CMO at Nomis Solutions.