Latest FinTech Report on Global Hubs Announced at Innovate Finance Global Summit

Connecting Global FinTech: Interim Hub Review 2017 published by Deloitte, analyses 44 of the world’s different FinTech hubs. The report is an update to the 2016 review, and comes after research conducted by SWIFT Innotribe and FinTech association Innovate Finance, which recently launched Global FinTech Hubs Federation. The Federation aims to build closer ties with hubs around the world through collaboration and knowledge sharing.

Innovate Finance today announced at Innovate Finance’s Global Summit the release of the update report Connecting Global FinTech: Interim Hub Review 2017, published by Deloitte.

The report updates 20 of the hubs profiled in September 2016 and introduces an additional 24 hubs, bringing the total number profiled to 44, all members of the Global FinTech Hub Federation (GFHF). Hub representatives were asked to provide a broad overview and self-assessment of their hub based on six categories.

The research provides an overview of both mature and emerging FinTech hubs emerging globally, with an analysis of local market facts, figures and future trends as well as an index performance score that determines the ease of growing a FinTech business in each hub.

According to the analysis of the report, London and Singapore remain the top hubs to establish and grow a FinTech startup, based on their index performance scores.

The Federation aims to help foster innovation and collaboration across the world’s financial services industry.

Formed in partnership with SWIFT Innotribe and Innovate Finance, the Federation is an independent network of FinTech hubs that enables ecosystems to connect global innovators and investors. The Federation supports global engagement, best practices and knowledge sharing across the sector, as well as build connections between global FinTech hubs.

Fabian Vandenreydt, Global Head of Securities Markets, Innotribe and The SWIFT Institute, SWIFT said:  “As the FinTech sector continues to mature globally, collaboration between the banking and startup communities has never been so important. Being one of the premier global innovation platforms, SWIFT Innotribe looks forward to strengthen connections between the 44 hubs who already joined the Federation, encouraging the sharing of best practices and leveraging their resources, networks, talent and strong expertise for the benefit of the entire financial industry.”

Commenting on the report, Policy Chairman of the City of London Corporation Mark Boleat said:

“The UK has long been a leader when it comes to FinTech and so it’s great to see our position is unchanged. It does, however, highlight the prominence of other cities vying for a slice of the pie. With competition rising, it’s important for the UK to continue championing innovation whilst maintaining the right degree of regulation to see our FinTechs thrive. We are committed to strengthening FinTech in the UK and are hopeful we can continue to lead in this sector.”

Lawrence Wintermeyer, CEO of Innovate Finance said: “We have been overwhelmed by the response of the global FinTech community for the report and welcome the new hubs that have joined the Federation. The report illustrates that FinTech is growing in size and influence globally and that ecosystems, which are rich in FinTech talent, regulatory support and investment opportunities, continues to lead the way.”

For more information about the federation, download the flyer or visit the new website:  thegfhf.org