Top 100 FinTech innovators announced by KPMG

Shanghai
By Andrew Harbison, CA Today

15 November 2016

China continues to dominate KPMG’s annual ‘FinTech 100’ list of the world’s leading FinTech firms.

The list, which is a collaboration between the Big Four firm, FinTech Innovators and H2 Ventures, includes the leading 50 established global FinTech companies and the most promising 50 ‘Emerging Stars’.

China based Ant Financial took pole position on this year’s list, which saw four of the top five positions held by Chinese companies.

Ant Financial, formerly known as Alipay, is the world's leading third-party payment platform, and is “dedicated to creating an open ecosystem, providing inclusive financial services to small and micro enterprises and individual consumers.”

Within three years, China’s FinTech ventures have gone from only one company included in the top established 50 rankings in 2014, to this year China featuring four of the top five companies and eight of the top 50.

Toby Heap of H2 Ventures said: “The continued dominance of China, which rapidly rose last year to take the top spot, tells only part of the story,”

“We are seeing the emergence of exciting FinTech players in countries across the world, from India to Israel, from Portugal to the Philippines.”

The UK is represented in the top 10 by Atom Bank, the country’s first bank built exclusively for mobile, which placed at number five on the list; a two-place improvement on last year.]

The top 10 FinTech companies

PositionCompanyCountry
1Ant FinancialChina
2QudianChina
3Oscar USA
4LufaxChina
5ZhongAnChina
6Atom BankUK
7KreditechGermany
8AvantUSA
9SofiUSA
10JD FinanceChina

Source: KPMG

Ian Pollari, Global co-lead of KPMG’s FinTech practice, said: “One of the striking features of the year’s list is the growing success of FinTech disruptors, with more than 90% of the top 50 ventures challenging incumbents or traditional business models.

“The FinTech 100 companies are increasingly attracting a greater share of capital as well, raising more than 65 percent of total global FinTech investment over the past year.

“The report also highlights a growing and increasingly diverse FinTech sector, with the creation of value in new sub-sectors such as regtech and data and analytics, and the continued growth in insurtech and blockchain.”

In total, the FinTech 100 includes 35 companies from the Americas, 28 companies from EMEA, 13 from the UK, and 24 companies from the Asia-Pacific region, including 10 from Australia and New Zealand.

The report also found that overall funding is on the rise for FinTechs, with the 50 established companies attracting an additional US$14.6 billion of capital since last year’s list, an increase of more than 40% from 2015.

The ‘Emerging Stars’ list includes open source blockchain company I/O Digital, the world’s first P2P lending company Lemonade, and alternative credit scoring company Credit Kudos.

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  • Technology

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