Now in its sixth edition, the FinTech100 highlights truly innovative companies that create products and services at the juncture of technology and financial services, especially those disrupting the existing processes and products that dominate the marketplace. This year’s FinTech 100 features companies from 29 countries and includes a balance of the top FinTech firms as well as emerging ones. The top 10 on the list are:
- Ant Financial (China)
- Grab (Singapore)
- JD Digits (China)
- GoJek (Indonesia)
- Paytm (India)
- Du Xiaoman Financial (China)
- Compass (United States)
- Ola (India)
- Opendoor (United States)
- OakNorth (United Kingdom)
This year’s list also highlights 10 trends from the FinTech world in 2019:
- Capital continues to fuel financial services – FinTechs raised over USD 18 billion in 2019.
- Leading FinTech players attract a greater share of capital – 32 companies on the list raised at least USD 100 million in 2019.
- Innovation is happening on a larger scale – FinTech 100 companies’ solutions are serving over 2.5 billion customers globally.
- China remains strong, but India is quickly rising – Chinese companies dominate the list; however, 2 Indian FinTech have cracked the top 10.
- FinTech is starting to normalize but still growing fast – traditional financial institutions and global tech giants are starting to become just as innovative as disruptor FinTechs.
- Traditional industry boundaries are blurring around the customer – as industries converge, players from adjacent sectors are entering financial services markets.
- FinTechs are globalizing – this year’s analysis shows an increasing number of FinTechs rapidly globalizing across multiple jurisdictions.
- FinTechs are moving beyond monoline products and services and becoming mainstream – early FinTech innovators with monoline product propositions are now diversifying to fulfill more consumer needs.
- Open banking is changing the landscape – many companies on the list have benefited from open banking allowing them to create more personalized experiences and services.
- Southeast Asia is the latest hotspot – 42 of the companies on the list are from Asia-Pacific.