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Data, insights and news on global Financial Technology.
In little over a decade, Estonia, Latvia and Lithuania have developed a global reputation as a hub for financial technology. Fintech in the Baltic States comprises approx. 650 companies, being local innovators and foreign investors. Quality is high, with the region producing multiple unicorns, innovative products, and regulation. Whilst each country has specific strengths, they […]
Banking-as-a-Service (BaaS) is when an authorised financial institution allows a non-bank to offer financial services on its infrastructure. BaaS lowers barriers to entry in financial services but creates investment and compliance obligations. The models available, their financial and practical implications are often misunderstood. Clarifying key elements at the outset leads to better business fit, economics […]
Providers of eMoney, payment, and crypto asset services in the EU must be licensed. Multiple licenses exists; businesses must ascertain which is appropriate for their usage case. Requirements are extensive and the authorisation process intensive; in most cases, regulators expect to test capability in advance. On authorisation, you can apply to ‘passport’ across the EU, […]
Open Banking emerged as a concept in 2010s, as regulators sought to stimulate competition and innovation in financial services. On launch in 2018, adoption was slow as fragmented technology, concerns about data sharing, and limited use cases created headwinds. Over time, the popularity of digital business models such as fintech and ecommerce grew among consumers […]
Banking as a Service (BaaS) occurs when an authorised financial institution allows a non-bank business to offer financial services on a white-label basis. This allows the non-bank to creatie new revenue streams, better customer experiences and deeper relationships. BaaS lowers the barrier to entry to financial services and is profitable at scale. However, it remains […]
Open Banking allows third-party providers (TPPs) to source account data and initiate payments from a customer’s account at another financial institution. Open Banking is used by financial and non-financial businesses to innovate new services, automate processes, and make decisions that were previously excluded, giving customers better choices and experiences. Consumers and businesses must consent to […]
Estonia has 200-250 fintech companies. Key segments of the industry are Digital Lending, Payments, Neobanking, Crypto Assets and Regtech. Understand the environment, trends and key players.
The largest markets for FinTech in Europe are UK, France and Germany. The Netherlands and Sweden are notable. Ireland, Estonia and Lithuania are small but high-value centres of Fintech in Europe.
Payments hubs Malta and Cyprus compete to lead in crypto assets.
Payment tokenization is a technique that replaces sensitive card data, such as name and primary account number (PAN), with a unique random code. Tokens are ideal for storing sensitive data against financial crime such as unauthorised access (internal fraud) and data breaches (external hack). Tokens increase sales by reducing the need to re-key data,
Credit cards are a huge market. In the US, they are the dominant payments method, accounting for 31-40% of total with an annual value of USD 5tn. 800m credit cards are in circulation with total debt exceeding USD 1.2 tn, the average cardholder has 3.9 credit cards and USD 6.7k debt. In