Mindly Fintech’s Zoom (2020)
A Brief Infographic & X-Ray of Global Fintech Growth and Trends
As some of you know, the majority of Mindly’s work is for Fintech & retail tech companies and, so we decided to create and share an infographic and zoom/report on the fintech industry in the current times.
So, if you’re a fintech company, an enthusiast or, even a company that provides solutions and tech services for fintetchs, like us, this is a quick reading that can give you some nice insights.
The Infographic
Growth by Region & Main Hubs
As we can see in the infographic we have a big leap from 2019 to 2020 that in total numbers represent an increase of 71% of the total number of fintech companies in these 3 main regions.
If we look also in the % numbers per region, from 2019 to 2020, we can notice that North America still gets the biggest slice but, has a decrease of 5% in the total number. This occurs mainly due to a big leap of 105% in Europe, Middle East & Africa (EMEA) region from 2019 to 2020.
In these regions, the main hubs are:
- North America: Bay Area, Valley, and New York.
- EMEA: London, Berlin and Stockholm.
- APACS: Beijing, Shanghai, Sydney, Singapore, and New Delhi.
The Estonia Scenario
Estonia has achieved from the last few years the title of “Europe’s Silicon Valley” due to its gigantic concentration of tech and innovative startups and when it comes to Fintech the scenario is not so different.
According to the very nice and pioneer work made by Fintech Baltic, the current scenario comprehends around 77 companies dedicated to the Fintech industry, being 18 of these dedicated to blockchain and crypto space.
Top Programming Languages in the Fintechs
Programming Languages
When it comes to top programming languages used at these fintechs around the world, Python and Java take the biggest slice, while other languages like C#, Javascript, and Ruby are also emerging.
In the face of so many options, maybe your company can easily get confused when defining the stack and architecture for your solutions and, here, we get you covered, if your company is from Baltics & Nordics, by offering some free remote consultancy/advising time as part of our initiative to support the region in the post-crisis recovery.
Feel free to schedule some time with us by clicking here (C’mon, let’s make some nice networking as well).
Trending Technologies
Some of the current trending technologies you probably heard already but, just to avoid any confusion, let’s take a quick look at each one of these.
Regtech: The name stands for regulatory technology which means the use of the new technologies to boost/improve the regulatory processes and, currently has big participation in the financial sector but, also a huge appeal to any regulated business sector, like the consumer goods industry, for example.
Artificial Intelligence & Machine Learning: These names, along with blockchain, are probably the hottest topics at the moment. Some very relevant examples of the applications are Algorithmic trading, Intelligent Analysis for Financial Trends Forecasts, Fraud Prevention & Detection, Intelligent Credit Risk Analysis, and Better Stock Market Predictions.
Blockchain: Another hot topic, blockchain technologies have been a backbone of the recent revolutions in the financial sector and, some examples of disruption are Cryptocurrencies & Smart Contracts, Improvement of Experience, and Cost Reduction of Global Digital Payments, Digital Identity and The Elimination of Middlemen in Shares Trading.
RPA: The name stands for Robotic Process Automation and when specifically looking at the financial industry, the technology provides the opportunity to automate several of the very repetitive and manual processes, providing complete availability and better speed to the final customers and, also reducing costs.
Conversational Banking: Conversational banking means interacting with a non-human to checking and getting insights about your finances, what not means a chatbot and, instead of it, here an example could be checking about how much you spend in groceries by using voice or SMS.
Final Considerations
The Mindly’s Fintech Zoom aims to be a periodic series of posts continuously updated and so, if you would like to contribute or, even have some free mention for your product, just drop me an email because there will be more posts like this and, some also dedicated to Baltic and Nordics/Scandinavian countries.
Finally, if you’re a Fintech and need a friendly hand to help in defining your solution stack, architecture or even some collaboration from a team that has 20+ years of experience in this topic, we do offer some free consultancy/advise time for companies from Baltics & Nordics/Scandinavian as an action to support our region in these after-crisis times.
Like the idea or, just want to make some network? Click here or mail me.
