European Fintech Market Outlook, 2018
FinTech in Europe is evolving rapidly and 2017 has been an eventful year for the industry. Some of the areas within FinTech that witnessed significant growth during 2017 include Banking-as-a-Service (BaaS), PayTech, InsurTech, RegTech, and Biometrics. The technology trends that have also significantly impacted the industry include cloud, Internet of Things (IoT), and machine learning. Frost & Sullivan has covered all these different areas and technologies as a part of its continuous, focused research on FinTech.
The objective of this study is to identify FinTech trends during 2018. With a lot of focus on regulations as a result of the Revised Payment Service Directive (PSD2) and General Data Protection Regulation (GDPR), many companies in the financial services industry are struggling to meet the deadlines and guidelines. In addition, the challenges of meeting consumer demands, offering technology-enabled innovative products and services, and meeting other stringent rules and regulations inherent to the financial services industry are leading to rapid developments. As technology has lowered entry barriers and as developments continue, emerging technologies are further expected to impact the solutions and capabilities significantly. This study will cover:
• FinTech trends in Europe, 2017
• FinTech trends in Europe, 2018
• Technology trends and the impact on the industry
• Segment trends and top predictions for the segments
• Growth opportunities across the segments
The study also includes brief company profiles of start-ups that Frost & Sullivan expects will be trendsetters in the respective segments.
As the FinTech industry forges ahead despite cryptocurrency volatility, data breaches, stricter regulations, impact of Brexit, and other challenges, the industry is set for rapid growth this year as well. The interest of governments, regulators, investors, and academia will drive developments, innovations, and disruptions. There will be more transformative products, services, and business models, as segments like payments, banking, and insurance expand to accommodate new industry participants. Technologies such as AI, ML, analytics, and Blockchain are constantly evolving and new solutions based on these technologies are gaining prominence. Some of the areas that are likely to witness significant developments include security solutions, behavioural analytics, and natural language understanding based applications.
Key Issues Addressed
What was the impact of 2017 trends on the FinTech industry?
What can be expected in the European FinTech industry in 2018?
What are the technology-enabled applications that will impact the industry in 2018?
What kind of developments can be expected in segments within FinTech?
Which are the likely trend setters in the industry in the coming year?
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