20200212-Findexable-The_Global_Fintech_Index_2020__THE_GLOBAL_FINTECH_INDEX_CITY_RANKINGS_REPORT_123页_14mb

Summary of the Global Fintech Index 2020 Report

Core Content

The Global Fintech Index 2020 is a comprehensive report that introduces the world's first global ranking of fintech ecosystems. It aims to provide an objective, data-driven analysis of fintech activity across 65 countries and 230+ cities, with 7,000 fintech companies included in the dataset. The report highlights the transformation of the global financial landscape, driven by the rise of fintech and the emergence of new financial centers, often in non-traditional regions.

Main Points

• Fintech as a Global Solution: Fintech is positioned as a tool to address global financial challenges such as access, speed, and cost. It enables more inclusive and efficient financial services, especially in emerging markets.

• The Need for a Global Index: The report emphasizes the need for a global index to track fintech progress and benchmark success. Without such a tool, it's hard to learn from best practices or avoid past mistakes in the fintech sector.

• Shift in Financial Hubs: The report shows a shift in the global fintech landscape, with many traditional financial centers (like New York, London, and San Francisco) falling out of the top 20 fintech hubs. Emerging cities such as Bangalore and São Paulo are rising in prominence.

• Emerging Markets Lead: Almost half of the world's top 100 fintech cities are in emerging markets, indicating a global diversification of fintech innovation and growth.

• Definition of Fintech: Fintech is defined as any business that uses technological innovation specifically to provide or distribute financial services. The index focuses on measurable data rather than subjective criteria, ensuring objectivity.

• Methodology Overview: The rankings are based on a three-unit metric system:

  • Quantity: Number of fintech companies and ecosystem developers.
  • Quality: Success of these companies, measured through valuation, customer base, and web presence.
  • Environment: Business environment, including regulatory frameworks and infrastructure, assessed using global benchmarks like the World Bank’s Doing Business Report.

Key Information

• The Global Fintech Index is developed in partnership with StartupBlink, Crunchbase, and SEMrush, and includes data from various global partners.

• The report argues that fintech is not just about being a start-up hub, but about building inclusive, diverse, and responsible financial ecosystems.

• Lithuania is highlighted as a notable success story, ranking fourth globally despite its small population, due to its strong regulatory focus and fintech-friendly environment.

• The report stresses the importance of policy, talent, and infrastructure in creating successful fintech hubs.

• It also addresses the challenges of data availability and consistency, and how the index aims to overcome these by using a standardized algorithm across all locations.

• The index is not static, and it's designed to evolve with the global fintech landscape, offering a living record of fintech activity and progress.

Conclusion

The Global Fintech Index 2020 represents a significant milestone in the fintech industry, offering a new way to measure and understand the global development of financial technology. It underscores the importance of diversity, innovation, and ecosystem support in shaping the future of financial services. By highlighting non-traditional financial centers and the growing influence of fintech in emerging markets, the report encourages a more inclusive and globally integrated financial future.