A European Fintech Hub Report, published today by B-Hive, takes a deep dive into the European fintech scene in 2018. The report discusses the strengths of key European fintech hubs, the importance of collaboration and provides insight into the multiple opportunities that fintechs can tap into across Europe to further expand internationally.
Europe’s growing fintech scene is still running behind the world’s superpowers China and United States and as the competition gets tougher, the importance of collaboration increases. The report brings attention to the effects of creating fintech hubs to unlock more business opportunities for all fintechs in Europe. The access to a growing network and a huge market as well as the exchange of knowledge, technology and talent across borders results in growing businesses and increase in a more global mindset.
Commenting on the launch of the report, B-Hive’s Executive Chairman, Fabian Vandenreydt, stresses the importance of pancontinental collaboration: “Because of the continent’s total market size, collaboration is the only way Europe can survive the world chessboard against US and China. This is the reason why we need to unlock continent-wide opportunities to position the whole of Europe as a true contender in the world market.”
One of the undeniable assets of the countries part of the European Union is the freedom of movement which gives fintechs access to a highly skilled workforce. The report focuses on this asset in addition to other key factors that have a significant impact on the area’s fintech scene. The other factors include region, business landscape, fintech attractiveness, key players and access to research.
The report focuses on a variety of regions: Brussels, Amsterdam, the Baltic States, Dublin, London, Luxembourg, Milan, Paris, Stockholm and Tel Aviv. Through cooperation, the European fintech industry can reach its true potential since success in the fintech scene is often a matter of connectivity. A strong, united fintech ecosystem allows fintechs to grow and expand internationally, and each actor can be a part of the winning formula.