TBY Releases Fintech Special Report
Istanbul, March 26, 2018—The Business Year has released its latest short feature report, the Fintech Special Report, following on from the success of its Smart Cities Report launched last year.
Fintech—or financial technology—is a trend changing practically everything about the way the world acts, interacts, and transacts financially. Figures from Statistica predict that, by 2020, there will be 2.87 billion smartphone users globally, constituting 36% of the predicted population. With barrier to entry radically lowered—indeed, many now hold the key to financial inclusion in the palm of their hands—it appears that fintech is democratizing money management, opening up the floor to more and more entrants in emerging economies specifically.
We are already flooded with information about the latest financial apps or the booming value of fintech unicorns, but we may find that there is an uneven spread of data, with many markets, regardless of respective fintech uptake, failing to make the headlines.
TBY brings you a spotlight report focusing on some of those underreported markets. We reveal trends by reflecting on the commonalities and differences across regions in order understand the bigger picture of why and how fintechs are garnering success in emerging markets.
The report focuses on three key sections: financial inclusion, with target markets such as migrants, women, and rural communities; problem solving, covering issues such as insurance penetration and access to finance; and solutions and governance, exploring PPPs in fintech, in particular using blockchain.
For this report TBY conducted over 70 interviews with high-level executives and public-sector officials dealing in fintech across the globe. Interviewees include HE Ahmed Ali Al Sayegh, Chairman of the Abu Dhabi Global Markets (ADGM); Dmitry Karadin, Head of Special Projects, Smart City Lab at the IT department for Moscow City Government; Aaron Fu, Managing Director of MEST; Manuel Caldeira Cabral, Minister for Economy for Portugal; Tarek Assaad, Managing Partner of Ideavelopers and Young President’s Organization (YPO) member; and Heather Strachan Matranga, Managing Director New Initiatives at Village Capital.
The coverage also features TBY’s signature analytics excerpt, which parses quantitative data accumulated during interviews and transforms this into statistics using key word analysis. The special report is published in partnership with Techfoliance, a global provider of fintech insights and analysis.
Given that 62% of TBY’s business leaders in the fintech space claim that we are moving toward a cashless economy, knowledge in this sector is in great demand. Moreover, seeing that 79% of business leaders suggest the best approach is a collaborative one, space for joint ventures in fintech is unbounded.
Ay≈üe Valentin, CEO of TBY, commented on the launch of the report, saying “the financial space is undergoing rapid changes, and continued coverage of the rise of fintech in mainstream media can be overwhelming for business people making their first incursions into the industry. As ever, TBY is pleased to act as a reliable and comprehensive voice for those looking for specific insight on the way that fintech is driving change in emerging markets, channeling the opinions of the people on the ground, making it happen.”
For those who are interested in finding out more, TBY’s Special Fintech Report is available on TBY’s website.
Techfoliance acts as the knowledge arm of INVYO, a SaaS company that uses big data and Natural Language Processing (NLP) to help financial institutions see tomorrow’s opportunities in fintech.