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Launching an analysis of the Fintech sector in Europe
The European Commission (1) has requested the help of Deloitte (2) to analyse the Fintech sector in Europe, focussing on the challenges for European players and the possible measures to be considered at EU level to foster an optimal development of the sector.
Fintech is a rapid sector and an important innovation field which provides multiple opportunities for the European economy. Europe already has strong assets and successful fast growing firms, but the European Commission wants to amplify the European footprint of the Fintech sector and secure its long-term growth in Europe.
Leveraging the ongoing Fintech consultation (3), this analysis will provide a comprehensive overview of the Fintech landscape in Europe, identify key successful stories (firms, hubs, countries) in Europe and overseas, anticipate possible scenarios for the future and outline the key success factors for the development of the Fintech sector.
Deloitte will eventually deliver recommendations to help the Commission enhance its policy framework in order to secure an ambitious growth of the Fintech sector, in a controlled environment for consumers, the society and the European economy.
The conclusions of the final report will be shared in the first quarter of 2018.
(1) Analysis for, and under the supervision of, the Directorate‑General for Communications Networks, Content and Technology. DG CNECT is the Commission department responsible to develop a digital single market to generate smart, sustainable and inclusive growth in Europe.
(2) Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
(3) Consultation document - Fintech: A more competitive and innovative European financial sector