On December 10th, the 2021 Nordic Fintech Report produced by FinTech Mundi and Findexable was released, featuring a preface by FCG Group CEO Kristian Bentzer. Also featuring interesting statistics from the industry, a variety of industry leading experts have reflected on the past year and its’ affects on the future of the FinTech sector. You can find the report in the menu to your right.
”FinTechs have shifted their business model – from providing technology solutions to become regulated financial services providers. From a business and technology perspective they have more in common with other all digital industries e.g. streaming and gaming, than they have with other financial institutions. They are all taking advantage of the latest cloud computing and open source technologies to shorten implementation time and scale their business without technology or geographical limitations. The new FinTechs are fueled by investors that have seen the success from Nordic tech and FinTech giants like Spotify and Klarna. Like all transformations, some will succeed and other will fail, but the business will not stay the same”, says Per Andersson, CEO of Reg&Tech Solutions AB, part of FCG Group.
Niclas Holm, CEO of Algorithmica Research AB, part of FCG group, fills in:“The Nordic region has a proud history of generating financial technology companies with a truly global reach and continues to do so – not only in retail banking but also in the highly competitive world of corporate banking, where companies like OM Technology (now part of Nasdaq), Orc Software (now Itiviti), Front arena (now Sungard), Trema (now Wall Street Systems) and Simcorp all have shown the way. The combination of a collaborative work culture, good engineering schools and a home market that is small enough to encourage early focus on export markets seems to have done the trick and continue to do so for the latest batch of nordic FinTechs.”
Read the report in the menu to your right!