The efficiency, convenience and reach of financial services has been significantly enhanced by the development of the fintech industry. Today, services including payments, insurance, lending, capital raising and investment management have all benefited from the boom in fintech.
These opportunities are reflected in the fast growing investment value of the fintech sector, with global fintech investment almost doubling to US$38.9bn between 2014 and 2017. As a result, many countries want to be a centre of fintech innovation.
Research consistently places London and Singapore as excellent hubs for fintech activity and, by exploring their strengths and challenges, we can highlight what drives successful fintech innovation more generally.