Fintech is a wide-ranging, multi-sector, global industry, whose growth influences not only the banking world, but society at large. Our deep dives, interviews and coverage looking at the evolution of payments, finance and banking are fuelled by constant updates, news and commentary on deals, funding rounds, and partnerships.
We all love a list!
CNBC names the world’s top fintech companies, in partnership with Statista
The list includes some of the biggest companies in the sector – Ant Group, Tencent, PayPal, Stripe, Klarna and Revolut – as well as several up-and-coming start-ups seeking to mould the future of financial services.
Statista reviewed a selection of more than 1500 companies for the research, using over 10,000 data points, sourced from annual reports, company websites, news articles and an open online application form.
For the analysis, the fintech market was segmented into nine categories – neobanking, digital payments, digital assets, digital financial planning, digital wealth management, alternate financing, alternate lending, digital banking solutions, and digital business solutions – and relevant key performance indicators were defined to assess the performance of these businesses.
Out of the nine categories, digital payments topped the list with 40 of the 200 ranked companies enabling online purchases, point of sale transactions, or digital money transfers. Neobanking came in second with 30 companies classed as financial institutions that operate exclusively digitally without physical branches.
Sixty-five of the top 200 fintech companies are based in the US, highlighting America’s influence and impact on the global fintech industry. Sixteen top fintech companies hail from the UK, suggesting that the UK remains a major player in the field, while 10 are based in Germany, eight in France, and tying with seven are the Netherlands, Australia and India.
The suffix du jour continues its march
The Bud.ai platform will be offered to financial services organisation for use with their transaction data to support new customer insight and achieve personalisation at scale in customer experience.
The new Al core supports Bud’s two products: Assess (its lending and affordability solution) and Engage (its money management and personalisation solution). Financial services organisations can integrate Bud’s large language model technology through a single integration.
When combined with the transactional data models from Bud, this no-code solution means banks, lenders and other financial services businesses can transform their unstructured data into a clearer picture of an individual’s financial position, or a detailed view of the bank’s wider portfolio.
Partnership alert
Tink and An Post expand partnership with Ireland
Just 16 months since the initial partnership was announced, An Post’s free Money Manager smart budgeting tool is now available to everyone in Ireland, expanding access to the service beyond solely An Post Money customers.
Using Tink’s open banking technology, the Money Manager smart budgeting tool securely links people’s current accounts and credit cards from all major banks in one place, giving them a deeper understanding and more holistic view of their financial behaviour over longer periods of time.
More partnerships!
Payhawk partners with Yapily to provide bank account top-ups across Europe and UK
Payhawk and Yapily create a seamless and instant payment experience for finance teams. This partnership allows users to link or unlink one or more bank accounts from more than 2000 banks and institutions from dozens of countries. Payhawk users can easily top up their debit accounts and repay their credit accounts from a linked bank account
The integration with Yapily – rolled out in key markets for Payhawk including the UK, France, Spain, Portugal and the Benelux – allows Payhawk to offer its customers the ability to link one or more bank accounts from over 2000 banks and institutions from dozens of countries and lets users easily top up their debit accounts and repay credit accounts from a linked bank account.
PayU to sell its Global Payment Organisation to Rapyd for $610m
Prosus has announced that PayU has reached an agreement with Rapyd, a fintech-as-a-service provider, that Rapyd will acquire PayU’s Global Payments Organisation for a total cash consideration of $610m. The transaction will enable PayU to focus on the large payments and fintech opportunity in India, where it is the leading payments provider, serving more than 450,000 merchants and more than two million credit customers.
Peep moves
Provenir names Richard Kern to lead Global Professional Services
Provenir, a provider of data and AI-powered risk decisioning software, has appointed Richard Kern as senior vice president of Global Professional Services.
Prior to joining Provenir, Kern was vice president, head of implementation and professional services at Alkami Technology, a provider of digital banking services. Prior to this, Kern held senior-level positions managing professional services for Fiserv, Thomson Reuters (now Refinitiv) and Citigroup.
