Ireland is top choice for expansion for half the Fintech companies in mainland Europe
According to a survey released by Munich-based consulting giant Roland Berger, about 50 percent of fintech companies in mainland Europe are eager to expand their geographic presence.
Amongst the countries preferred by these companies, Ireland tops the list.
The survey revealed that Ireland topped the poll as the most popular country targeted for expansion.
The findings further showed that currently only 15 percent of fintech firms operate in more than a handful of countries. Out of which, 50 percent companies plan to be operating in five or more countries in five years’ time.
Amongst the countries in the list of preferences for expansion – the most popular countries were Ireland and the U.K. holding the joint first place at 47 percent and France stood in the second place at 45 percent.
The survey also showed that traditional banks and innovative fintech firms have a desire to collaborate.
It showed that nine out of ten fintech companies that were surveyed wanted to work with traditional financial institutions such as banks and insurers.
They viewed themselves as “innovators who want classic financial institutions not confusion.”
About 248 firms, mostly in the investments space, asset management, crowdfunding and payments, were surveyed in the report titled, ‘Fintechs in Europe – Challenger and Partner.’
The companies surveyed operate in 18 European countries across central, western and southern Europe.
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Source: Ireland is top choice for expansion for half the Fintech companies in mainland Europe – Big News Network