Report Fintech100: Asia dominates the sector
Fintech

Report Fintech100: Asia dominates the sector

By Alfredo de Candia - 18 Nov 2019

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Today KPMG’s new Fintech100 report was published, which conducted this research based on data from companies operating in this sector.  

The report touched on various aspects of fintech, from payment, lending and credit companies to brokerage and insurance companies.

In first place, with 27 companies, there is the payments sector; in second place, with 19 companies, there are services dedicated to the custody of savings and in third place the insurance sector, as can be seen from the image below.

The report also includes the names of the companies with the highest turnover. These are almost always companies based in Asia: only one of these, in fact, is based in Europe and only 2 in America.

  • Ant Financial (China): this is a company of the Alibaba Group. It is the most precious unicorn in the world, with a value of 150 billion dollars;
  • Grab (Singapore): deals with logistics for mobile devices;
  • JD Digits (China): offers services related to big data, AI, cloud, blockchain and IoT;
  • GoJek (Indonesia): the group is the creator of Gopay, Gobills, Gopoints, Paylater and Gopulsa;
  • Paytm (India): This is the company that performs the largest number of transactions in the country with 380 million users;
  • Du Xiaoman Financial (China) is involved in loans and investments;
  • Compass (U.S.A.) provides services for real estate companies;
  • Ola (India) owns the payment service Ola Money;
  • Opendoor (U.S.A.) is a real estate platform;
  • OakNorth (UK) is a loan broker.

Interestingly, in third place in this ranking, there is a company that operates in the blockchain sector, but also in artificial intelligence and in IoT (Internet of Things): 3 sectors that probably represent the future of the tech world.

This Fintech 100 report, in short, confirms the fact that China and Asia in general are the main players in the fintech sector.

Chris Wang, partner head of fintech at KPMG China, explained: 

 “As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors”.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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