Fintech100
KPMG Releases its 2019 Fintech100 Ranking, But Cryptocurrency Innovation Has Showing Strong
November 20, 2019
Fintech100
KPMG Releases its 2019 Fintech100 Ranking, But Cryptocurrency Innovation Has Showing Strong
November 20, 2019

KPMG, a Big Four auditing firm, released its 2019 Fintech100 ranking, which lists the top 100 Fintech firms in the world. The list saw a drop in Bitcoin-related companies but reinforced innovation in the payments industry.

As was the case in 2018, AntFinancial, which was owned by Jack Ma of Alibaba, led the ranking. However, AntFinancial controls Alipay, one of China’s leading payment systems, and is valued at $83 billion.

Among the companies that offer innovation through blockchain and cryptocurrency, JD Finance was best placed in third place, surpassed by Grab, an Uber-like rideshare app that also functions as a payment system in Singapore.

Likewise, Robinhood dropped from 8th place in 2018 to 14th in 2019. According to KPMG’s rankings, crypto innovation remains strong which featured blockchain-focused OneConnect (18th), Revolut (26th), Coinbase (34th), Liquid (38th) and Banketa (42th).

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Chris Wang, the Partner and Head of Fintech at KPMG China, said:

“As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors.”

Chris Wang

The report also named Binance, MemaPay, Moin, Silot, and Tokeny among emerging companies in the top 100.

Further, KPMG points out that Fintech100 companies raised over $18 billion in the last 12 months and more than $70 billion in their lifetimes. The report identifies these companies as changing the world with their respective innovations, serving over 2.5 billion customers globally.

Though fintech firms have emerged as a financial services option, KPMG points out that many companies on the Fintech100 list have benefited from open banking by allowing them to access customer banking to create a more personalized experience and services.

ALSO READ :  Blockchain Revolution In Banking

Thus, early fintech innovators with single product propositions are now diversifying to fulfill customer needs, often through banking licenses and supported by favorable regulatory developments.

Source: home.kpmg | markets.businessinsider.com | cointelegraph.com


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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