A new report has found that London is still leading the way as the global hub for the FinTech sector, which saw 2015 investments in the industry amounting to $19 billion.
The report from Deloitte and All Street Research [PDF] looked at 21 of the major FinTech hubs around the world. After working through quantitative research and interviews with local FinTech subject matter experts, the research found there were five hubs that had a leading Index Performance Score of 25 or less, suggesting that they are more conducive to the development of FinTech. These were London, Singapore, New York, Silicon Valley, and Hong Kong.
The findings, however, may not be too surprising given that these hubs already have the right elements in place – progressive regulatory bodies, investment capital, and government support – and strong collaboration to create leading FinTech sectors within these countries.
While this may be the case, the research found that there is no reason why the hubs that scored an Index Performance Score of 26-150 could not develop and maintain their own