Fin Tech hubs have sprung up all over the world,
but what are the challenges and opportunities
facing each region?
The world has caught Fin Tech fever and it’s spreading fast. Fin Tech
hubs are springing up all over the world in some of the unlikeliest of
places, as emerging markets in Asia, Africa and Latin America begin to
boast technology setups to rival the innovation of Silicon Valley.
While we couldn’t visit every country, fortunately SWIFT’s Innotribe
initiative – set up in 2009 to identify emerging trends in financial
services – was the perfect platform for us to discover what the Fin Tech
world currently has to offer.
“This is a global phenomenon,” explains Fabian Vandenreydt, global
head of securities markets, Innotribe and The SWIFT Institute. “The
UK started in a way, but then you have seen it grow and every city I
know has the capabilities to host start-ups.
“This year we started doing events in Latin America, with a start-up
challenge in Mexico.”
Vandenreydt highlighted Africa, the Nordics and the Baltics as other
regions with booming Fin Tech hubs, before adding some others to
“In the US you have Boston and New York, in Latin America it is
starting in the likes of Mexico and Chile. In Asia Pacific you have
HongKong, Singapore and Australia. Each hub is different, their
objective is different.”
We attended each of the sessions and put together an overview of
what’s going on in the Fin Tech world across Europe, Middle-East,
Africa, Asia and the Americas, in the first of our looks at Fin Tech hubs.