Fintech
Fintech Opportunities
Growing global market
In 2020, the global Fintech market size reached $110.57 billion, and is expected to rise to $698.48 billion by 2030. Within the industry, digital payments are the dominate sector, accounting for 92% of the total market.
Open Banking revolution
Since the introduction of Open Banking, businesses can gain access to financial data to develop truly customer-centric services, as well as streamline banking and payment services. As Fintechs continue to take advantage of Open Banking, there will be an acceleration of new innovative products that will continue to drive growth in the sector.
Demographic dividend
Youthful populations in developing countries are increasingly middle-class, tech literate and willing to embrace innovative Fintech services. With expanding mobile phone use, 6.5 billion globally, the demographic dominance of young people in developing countries has created a unique window for Fintech expansion.
Fintech Challenges
Regulatory compliance across countries
Fintechs expanding globally must comply with different regulation across different jurisdictions. Fintechs face increasing challenges in new markets when the standards and regulation between two jurisdictions are in conflict. The complexity of maintaining regulatory compliance across jurisdictions is complex and impedes growth potential.
Big Tech competition
Fintechs aiming to scale their operation globally are in competition with major technology companies such as Apple and Amazon. To succeed, they must identify their market strengths and focus on differentiation.
Raising Venture Capital
With rising interest rates, and the end of ‘cheap money’, startups will experience increased funding challenges as investors become more cautious. Despite the upsurge of interest in Fintech, attracting and managing the right investors remains a major hurdle startups must pass in order to scale.
How we help
Send and receive payments internationally
Make payments in 190+ countries via 50+ supported currencies at better than bank FX rates.
Integrated banking and payments
Streamline your business finances all from one platform, at better than bank rates.
Regulatory compliance
Overcome the cross-border compliance burden with our smart platform that automatically adapts to the changing regulatory landscape.