Australia jumps to two places ranked 6th in the world in the Global FinTech Ranking 2021 Report

According to a new report by Findexable, 2020 was a year of global and financial expansion of the financial technology (“fintech”) sector in response to the surge in demand for technology that increases access to digital finance. Earlier reports showed that this trend was accelerating, but during the period covered by this year’s report, diversity among fintech companies exploded, with 50 new cities and 20 new countries. Has been added to the index. That is, at least 10 privately owned headquarters are hosted. Fintech company.

2021 Global FinTech Ranking, powered by MambuIdentify emerging hubs, fintech companies, and trends. The indexing algorithm incorporates data from findexable’s own records and has been collated and validated by a global partnership network that includes Crunchbase, StartupBlink, SEMrush, and more than 60 FinTech associations around the world, in more than 264 cities in 83 countries. Rank the FinTech ecosystem. The index was first published in 2019 and has gained a lot of support from the fintech industry.

This year’s Global FinTech Ranking Report shows that the fintech industry is geographically diversified, even though major technology and finance centers such as London, New York and San Francisco are still global development centers. I will. Several African countries such as Seychelles, Rwanda, Tunisia, Zimbabwe and Somalia have been added to the list, cities such as Riyadh and Tel Aviv have risen in the rankings, and the latter has joined the top 10 cities in the world with FinTech growth.

Kristofer Rogers, ANZ General Manager MambuSaid: “Australia has solidified its position as a leader in the global fintech sector in this year’s global fintech rankings, climbing further to 2nd place and is currently ranked 6th in the world and 2nd in the Asia Pacific region. What’s exciting in a month is the larger transaction scale and successful exits that rival well-known hubs like San Francisco and the more familiar Singapore.

“FinTech Space has received a lot of support from leaders, including Prime Minister Scott Morrison, and more recently from Senator Andrew Bragg to support the growing FinTech ecosystem in Australia. Things are starting to get very exciting for Australian entrepreneurs and innovators, as venture capitalists and early-stage investors are enjoying great profits.

“Australia’s thriving fintech industry has seen amazing innovations over the last 12 months, and the COVID-19 pandemic has significantly accelerated the acceptance and adoption of digital banking technology in all demographics. Working in the fintech space is an exciting time. We look forward to further investment and activity in this sector as Australia’s banking and financial services industry continues its digital revolution. “

“It’s also important to note that innovation is faster than ever. According to Mastercard data, in the first quarter of 2020, we’ll be in digital banking in 10 weeks more than in the last five years. The transition was underway. This is a light-speed verification that fintech is no longer dismissed as a fad, but is part of the lives of billions of people – “for everyone, not a few.” FinTech for “.

“I think the incorporation of financial services and continued innovation will mean that most Australian companies and services will soon have some form of FinTech capabilities within a stable range. It is a fundamental transformation to the economy.

Simon Hardie, Founder and CEO of Findexable, explains: It’s especially good to make sure that the pandemic didn’t slow down and could actually have accelerated. FinTech adoption in parts of the world that were previously underserved. “

He adds: “As important as whether the industry is growing is whether the industry as a whole is helping the general public solve financial access, cost, and simplicity issues. Using last year’s data. A study conducted at the University of Illinois showed that “the level of fintech development in a country is largely related to improving financial inclusion in emerging economies.” From this, it can be inferred that an increase in fintech companies in areas where banks are scarce will lead to increased financial inclusion in those areas. “

Elliott Limb, Chief Customer Officer of Mambu, commented: “Fintech is part of a global revolution that makes financial services easier, faster and simpler. They change the way we save, spend, borrow and invest. They are rebuilding digital services for a real-time, on-demand world, whether they compete, collaborate, or support traditional financial institutions. “

Lim further said: “That’s why we’re proud to win stripes and sponsor the Global FinTech Index in this imaginative community. The need to understand where energy and ideas are created is a decision. The tools people need. Roadmaps like aspiring unicorns, online banks looking for new markets, providers wanting to digitize, financial institutions wanting to behave like fintechs … from where I need a guide on where to go for the first time. That’s why the ranking system is so important. “

For the purposes of index algorithms, FinTech is any business that applies technologically enabled innovations that specialize in the provision or distribution of financial services.

Country and city rankings were calculated from a total score consisting of a combination of the following three indicators:

  • Quantity – FinTech Ecosystem Size and Support Structure – FinTech, FinTech Hubs, Coworking Spaces, Accelerators, Global Influencers, Population Number (Country Only)
  • Quality – Impact / Performance – FinTech size and growth (such as the number of unicorns), investments, events, value creation, international collaboration, website rankings
  • Environment-Business Ease, Critical Mass, Regulatory Environment-Regulatory interventions to improve the competitive environment, incentives for start-ups, internet censorship, payment portals, fintech courses.

To find out more and download a copy of the report, go to the following website:

Australia jumps to two places ranked 6th in the world in the Global FinTech Ranking 2021 Report

Source link Australia jumps to two places ranked 6th in the world in the Global FinTech Ranking 2021 Report

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