Number of Fintech startups worldwide 2020, by region
There were 8,775 financial technology (Fintech) startups in the Americans in February 2020, making it the region with the most Fintech startups globally. In comparison, there were 7,385 such startups in Europe, the Middle East, and Africa, followed by 4,765 in the Asia Pacific region.
What is Fintech?
Fintech relates to application of innovative technological solutions in the financial services industry. These solutions are mostly developed by startup companies, which offer their services to established firms. The area mostly affected by Fintech companies are mobile wallets and payments. This comes in line with an increasing number of people using a mobile banking app, particularly amongst young people.
Geographic considerations
Fintech adoption rates differ geographically based on several factors. Naturally, internet user penetration rates play a large part, particularly mobile internet usage. Trust of tech firms also affects adoption, as well as trust of, and access to, traditional financial services. Finally, access to capital hinges on the local amount of Fintech investment, which also depends on regional variables.
What is Fintech?
Fintech relates to application of innovative technological solutions in the financial services industry. These solutions are mostly developed by startup companies, which offer their services to established firms. The area mostly affected by Fintech companies are mobile wallets and payments. This comes in line with an increasing number of people using a mobile banking app, particularly amongst young people.
Geographic considerations
Fintech adoption rates differ geographically based on several factors. Naturally, internet user penetration rates play a large part, particularly mobile internet usage. Trust of tech firms also affects adoption, as well as trust of, and access to, traditional financial services. Finally, access to capital hinges on the local amount of Fintech investment, which also depends on regional variables.
