Fidor Group has been recognised for its innovative products and digital offerings by Juniper Research. It has named Fidor as a leading disruptor in its prestigious “Disruptors & Challengers Quadrant For Neo & Challenger Banks” for 2018. This Quadrant focuses on innovative and disruptive companies within the banking industry. This report can be viewed here.
In order to be included in this Quadrant for 2018, the criteria were focused on three areas:
- Innovation: An assessment of companies’ current product offerings, deployments and their ability to create new and unique products or services.
- Agility: How able, and quickly, companies can execute a go-to-market for their products and services and also iterate their existing solutions, based on funding, partnerships, market access and corporate backing.
- Presence: How much investment companies have received to date, including funding, acquisitions or stakeholder share (as of December 2016).
Juniper Research highlights that Fidor is actively driving industry transformation through B2B co-innovation and regional initiatives. It also notes that Fidor contributes to a number of regulator forums, including the Monetary Authority of Singapore (MAS) and the Financial Conduct Authority (FCA) in the UK, to help foster innovations in payment systems and fintech.
Nitin Bhas, Head of Research, at Juniper, wrote in conclusion: “Fidor has been more ambitious than many of its counterparts. Some challenger banks stop short of being ‘full’ banks by merely offering a place to manage money; they do not offer lending services and so on. Fidor allies with specialists, rather than creating its own services, so it can offer top of the range products.”
Juniper Research also noted that “Fidor’s first big challenge is breaking down the barriers created by incumbents”, and that it has a European expansion plan in place for 2018, following an initial launch in France.
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Ge Drossaert, Member of the Board, at Fidor Group said: “Through open banking, Fidor has created a future-proof business model that brings many financial players into a digital retail banking ecosystem. Fidor has successfully created an ecosystem that brings all players together: incumbent banks and fintech players focusing on delivering the best experience for the end consumer.”