Welcome back to the SnapShots!
Weekly insights from RedSnap's perspective about what happened in the past week. We share our three key takeaways and update you on the progress at RedSnap. Hope you enjoy our selection this week. Happy reading!
Fintech top 100 players
This week KPMG and H2 Ventures published their annual Fintech100 list. The Fintech100 list highlights innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 36 countries featuring in this year’s list. The Fintech100 is divided into two sublists: (1) the ‘Top 50’ established fintech firms around the globe, which are ranked based on innovation, capital raising activity, size and country; and (2) the ‘Emerging 50’ firms, which are newer companies that are at the forefront of innovative technologies and practices.
Some of the highlights are that Chinese fintechs continue to dominate the top of the list, accounting for three of the top five places on the Leading 50 list with Ant Financial in first, JD Finance second and Baidu fourth. Grab was a new entry, taking third place, and US fintech Sofi moved up to the fifth place. Digital or “neo banks” also increased their representation to 10 with Monzo, Number26, SolarisBank and Starling Bank making their Leading 50 debut. Another finding is that there are 36 different countries represented in the list, which shows us that the global competition continues to expand. It is interesting to see that there more and more fintech companies are getting mature and are growing since the first list was published in 2016.
Take a look at the full list of Fintech100 by KPMG and H2 Ventures here.
Money talks in Las Vegas
Another major series from Money 20/20 this year. This week, Money 20/20 US took place in Las Vegas with more than 11,000 attendees and 450 speakers in financial services. Some of the influential speakers were Jim Marous, Chris Skinner, Patrick Gauthier (VP of Amazon Pay), Bill Ready (Paypal), and also including rapper AKON. The agenda focused on a fearless and unique perspective on the ways the industry is revolutionising the future of money. Fourteen topics were covered during the event, and the most highlighted ones were about the importance of customer experience, API economy, fraud, and data ownership. Customer experience was discussed, particularly on how fintechs could differentiate and the value of your offering to customers through digital and mobile. Also, they talked about API economy on the exposure of an organisation’s digital services and assets through APIs in a controlled way. These are just some of the takeaways from this massive and insightful event.
For more information about the event and the topics, take a look at Money 20/20 US.
See how the event went on social media
The future is bright for Africa with @AkoinOfficial providing the younger generation with a system to build, develop and nurture their own infrastructure explains entrepreneur, philanthropist & Chief Visionary, @Akon pic.twitter.com/dIiKWsAOxi— Money20/20 (@money2020) October 24, 2018
For those not at #Money2020, sharing what I spoke about, as it’s a topic I care deeply about: How our industry can help small businesses thrive in the digital econ by working more closely together. Watch part of my keynote here & look out for more posts: https://t.co/OijVeVtVxL pic.twitter.com/rsBtQt7Yz7— Bill Ready (@williamready) October 24, 2018
Don't forget to stop by Booth #1968 at @money2020 USA to see what's stirring with Fidor & @gft!#m2020 #m2020US #money2020 #money2020US #vegas #fintech #digitalbanking #finance #innovation pic.twitter.com/WLwdoTsC7G— Fidor Solutions (@FidorSolutions) October 24, 2018
Welcoming RedSnap’s new client, Suburbia
Making data accessible to people and companies around the globe. That’s what our new client does. Suburbia collects, cleans and shares data from new sources to help their clients to make better decisions faster. The data provided by Suburbia can be transformed by anyone into actionable insights for investment and marketing aims. It is fascinating how data is democratised and how Suburbia is giving people access in using alternative data. We are looking forward to supporting Suburbia to create high-quality content to push the awareness of their solutions.