Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

A new research report commissioned by MasterCard – entitled ‘Nordic Fintech Disruptors Report 2018’ will be released at Money2020 in Amsterdam this week. 

ChineseInvestors.com, Inc. Announces That Its Subsidiary ChineseHempOil.com, Inc. Has Expanded Its Sales Force in an Effort to Grow the Division's Revenues Domestically
  • The research on financial institutions, fintech start-ups and ecosystem participants across the Nordic and Baltic region reveals that greater cooperation between regulators, banks and innovators is essential to the region’s status as a leading fintech hub.
  • The research also shows that the although the Nordic region will become a global fintech hub by 2020, the UK will maintain its status as Europe’s primary fintech central post Brexit. 

The survey reflects a diminishing concern about the impact of Brexit on the UK’s fintech sector. Only 38% of the respondents feel that Brexit is likely to accelerate growth in other European fintech hubs, a significant decline from last year’s survey figure of 56%

According to the survey commissioned by Mastercard, a regulatory framework that prioritises intra-regional trade will enable the Nordics and Baltics region to stay at the global forefront of digital commerce. 

Bank revenues

While the Nordic and Baltic region accounts for over half of Europe’s fintech unicorns by value, the research shows the biggest challenges for fintechs are the direct or indirect result of limited regulatory coordination on fintech. 37% of respondents of the research survey cited regulation directly, 67% find it difficult to achieve scale, and 33% find access to funding remains a challenge. Increased competition from incumbents jumped 19 percent in the recent research from 2017.

The Mastercard 2018 Fintech Disruptors Nordic Report conducted by Fintech Mundi and MagnaCarta finds that a holistic approach to cooperation across the region – including incentives for investment and working together to create a regulatory environment that stimulates innovation and promotes collaboration between new and established providers would strengthen the region’s status as a global digital fintech hub.

Navigating Capital, Culture, Commerce and Collaboration in the Nordic and Baltics region offers a generational opportunity for the region to continue its pioneering legacy. With potentially unlimited benefits to growth and productivity by creating the world’s first digitally-integrated economy. Achieving this will require mutual recognition of the value that innovators, institutions and incumbents each bring. The future of regional fintech success, and much more, depends on it.

Mats Taraldsson, Head of Digital Business Development and Fintech Partnerships, Mastercard Nordics and Baltics comments:

“Innovation by collaboration is at the heart of Mastercard and working together with start-ups and fintechs is essential to meet the future needs of consumers, merchants and governments. We have been committed to fintechs for many years, fostering partnerships with pioneers who have grown into global brands. One Nordic example is iZettle where we helped them in the early phase setting up their business, acting as an advisor.

“We now continue this commitment locally in the just recently launched Nordic and Baltic fintech program called Lighthouse Development Program in partnership with NFT Ventures”

Brexit Effect

Susanne Hannestad, Chief Executive of Fintech Mundi, co-author of the research, added: 

“The Nordic and Baltic markets already have an incredible track record of building fintech companies having created regional successes that have gone on to become global winners, like Spotify and Zwipe.

A more joined-up approach to fintech, and the factors that influence successful innovation between the markets governments and regulators, however would create new opportunities for growth and productivity and ensure the region is the best place in Europe to build the next generation of fintech giants.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post