GoCardless Tops Fintech with Expected over $220b Earning in 2018

GoCardless has been named as the current clear leader in the fintech market as it enables simple payment processing and integration with many popular services.
Juniper Research in his new study said it believes that its potential for efficient, borderless commerce is disruptive and far-reaching.
The research, Fintech Futures: Market Disruption, Leading Innovations & Emerging Opportunities 2017-2022, ranked these vendors as ‘leaders’ in the emerging fintech sector, a sector which Juniper values at $223 billion by revenue in 2018. The research firm forecasts $411 billion by 2022, growing at an average annual rate of 16.5%.
Additionally, Juniper found that fintech is transitioning from a B2C (Business to Consumer) focus to a B2B (Business to Business) one. As fintech matures as a market, traditional FIs (Financial Institutions) are realising the opportunity it represents.
Banks, in particular, are using new support services to simplify their regulatory burdens, driving Regtech to represent nearly 19% of total fintech revenues in 2022, up from 5% in 2017.
Juniper predicted that incumbent investment in fintech will dramatically rise, as they seek to transform their existing models. Research author Nick Maynard added: “FIs are no longer afraid of fintech, rather they see the benefit of harnessing it. Traditional FIs can utilise fintech platforms to increase the appeal of their solutions and widen them out to the largest possible market.”
While technologies such as AI and blockchain have a bright future in financial services, the new study found the most promising disruptive approaches utilise mobile-first strategies. In the banking sector, smartphone app-based challenger banks like Atom and Monzo are leading the way in providing compelling customer experiences.
Juniper stressed that vendors in the fintech market must focus on solving their customers’ issue, using whatever technologies, however basic, to address the issue and achieve success
Barbra Nasimiyu, Nairobi


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