Experienced Educator, Researcher, Leader and Influencer. Head, School of Business @Monash University ||Top 50 global influencers in FinTech, Regtech & Cryptocurrency ||Making world a better place with RegTech Research
A new lease of life in #FinTech: #Layoffs, #acquisitions, few #IPOs & #VC– The Fintech sector in 2023 was not better off than in the memorably bad 2022- Key insights from Peak report In 2023, the number of capital #financing events fell by 28%, and the total value of FinTech #funding fell by 43% compared to 2022 The difference between profitable and loss-making fintech firms was in managing expenses, not in growing revenues. On average, profitable fintechs saw a 3% drop in #expenses, while loss-making companies saw expenses rise 27% in 2022. #BNPL lending really penetrated into the market in 2023, but it may still not have reached its full potential- Klarna Affirm and Tamara were the biggest gainers 2023 was a landmark year for the #Neobanks. While many were struggling in the consolidation period, there were some players like Nubank, Revolut Wise who secured their position for the years to come. 2023 was a tough year for banks with the collapse of #silvergate #siliconvalley and #Signaturebank #GenerativeAI came, saw and conquered. AI-generated content has opened up new horizons in fintech and beyond. With 200 billion dollars, #GenAI value creation in the #banking sector and anticipated 6.2 billion dollars value added to the fintech sector by 2032 In summary, The #Bigtech threat is growing; Neobanks have found their footing; BNPL is here to stay and big Transitioning from #openbanking to #openfinance is on the cards Marton Suppan Zoltán Ács #Bank #Finserv #BigTech #Investment #funding #BNPL #Cryptocurrency #BNPL #Digitalbanking #CBDC #Blockchain #tokenisation #Cryptocurrency #Stablecoins #Regulation #Regtech Mike Flache Francesco Burelli Tony Moroney Panagiotis Kriaris Dr. Martha Boeckenfeld Prof. Dr. Ingrid Vasiliu-Feltes Spiros Margaris Alex Jimenez Nicolas Pinto Amitav Bhattacharjee Sathya Narayana Dr. Debashis Dutta Monica Jasuja Efi Pylarinou Nicolas Babin Dr. Khulood Almani🇸🇦 د.خلود المانع https://lnkd.in/eC5m_Eaz
Thank you for sharing and the kind mention Nafis Alam
Chair of the Digital Growth Collective · Recognized as a Global Leader in Digital Transformation
1yInteresting development, including facts. Thanks for sharing, Nafis Alam. This "early" phase of consolidation was to be expected. In my opinion, it shows that it is not the greatest innovation that matters, but rather the one that can be reflected in a market-relevant business model and aims to create value.