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UK dominates Fintech100 list, but China is rising fast
With all the hype over London’s status as a global fintech hub, it probably comes as no surprise that the U.K. dominates a list of top fintech firms released by KPMG this week, but China is fast catching up.
The “Fintech 100” lists the top fintech firms of 2015 and comprises 50 established firms and 50 rising startups. Of the 20 countries represented in the list 18 are U.K.-based. Of the rest, 40 are from the Americas, 20 are from Europe and the Middle East, and 22 are from the Asia Pacific region. It’s the last group we need to watch out for.
While the U.K. dominates in numbers, it was a Chinese firm, ZhongAn, that topped the list of established innovators. The report notes that 2015 was a “standout” year for rising Chinese fintechs. In total, seven Chinese companies made the list. Warren Mead, global co-head of KPMG’s Fintech practice, added:
The UK is clearly a leading centre for fintech but with the rise of Chinese firms that position is not guaranteed. The good news is the UK is currently home to more emerging fintech companies on the list than anywhere else. In a fast moving sector, it will be interesting to track how many break out over the next 12 months.
Photo: michael davis-burchat