Summary

このレポートはフィンテック市場を調査し、フィンテックベンダの市場機会や地域別の詳細な分析を掲載しています。

レポート内容

地域別分析

• カナダ
• 中国
• フランス
• ドイツ
• インド
• 日本
• 韓国
• 英国
• 米国

フィンテックのセグメント別収益機会

• 支払い＆バンキング
• 融資＆財務
• 保険
• 法規制順守
• 資産管理

Overview

Juniper’s latest Fintech Futures research provides a detailed overview of how the introduction of technology into financial services is disrupting the delivery of those services, with a particular focus on the response from incumbents. The research analyses the regional outlook for fintech adoption, as well as offering analysis of key fintech areas, such as lending and financing, with an accompanying future outlook.

The report also examines the technologies underpinning future fintech disruption, including AI and Blockchain; assessing their future viability. It includes insightful player analysis, alongside key recommendations for stakeholders in the industry to inform strategic planning.

The analysis covers key fintech segments, including:

• Payments & Banking
• Lending & Financing
• Insurance
• Regulatory Compliance
• Wealth Management

This research suite includes:

• Deep Dive Strategy & Competition (PDF)
• 5-Year Deep Dive Data & Forecasting (PDF & Excel)
• Executive Summary & Core Findings (PDF)
• 12 months' access to harvest online data platform

Key Features

• Sector Dynamics: fintech drivers, strategic opportunities and recommendations for:
  • Payments & Banking
  • Lending & Financing
  • Insurance
  • Regulatory Compliance
  • Wealth Management
• Regional Analysis: Detailed analysis of Juniper’s 8 key regions; assessing the current fintech landscape, barriers to future development and a future outlook.
• Interviews: Leading fintech vendors across the value chain interviewed, including:
  • Ayasdi
  • Capnovum
  • Currencycloud
  • LenddoEFL
  • Pineapple
  • Spotcap
  • Syndicate Room
  • Tradle
• Juniper Leaderboard: Key player capability and capacity assessment for 15 emerging fintech vendors.
• Fintech Disruptors & Challengers Quadrant: Analyses 15 of the emerging and innovative technology companies with the potential to disrupt key financial services markets.
• Benchmark Industry Forecasts: Market segment forecasts for key fintech verticals, including:
• Payments & Banking
• Lending & Financing
• Insurance
• Regulatory Compliance
• Wealth Management

Key Questions

1. Which segments of fintech are best positioned to disrupt traditional financial services?
2. Which markets are best poised for future fintech disruption?
3. In what ways are fintech vendors innovating and differentiating themselves from others in the market?
4. How are incumbents responding to the threat from fintech disruptors?
5. What is the revenue opportunity in the fintech space and what will it be up to 2024?

Companies Referenced

Interviewed: Ayasdi, Capnovum, Currencycloud, LenddoEFL, Pineapple, Spotcap, Syndicate Room, Tradle.
 
Profiled: Ayasdi, Capnovum, Currencycloud, FloodFlash, Jumpstart, Kueski, LenddoEFL, Pineapple, Plum, Privé Technologies, Slice Labs, Spotcap, StoneCo, Syndicate Room, Tradle.
 
Case Studied: CBW Bank, N26, Nutmeg, Revolut, StoneCo,
 
Included in Fintech Disruptors & Challengers Quadrant: Ayasdi, Earthport, Fenergo, GoCardless, Lending Club, N26, Nubank, Nutmeg, OnDeck, Revolut, Signzy, Slice Labs, StoneCo, Tradle, Yoco.
 
Mentioned: 7-Eleven, 8 Securities Group, ABN Amro, Accel Partners, Acko, AIA, Alibaba, Allianz, Alpha Business Bank, Alphabet, Alyne, Amazon, AmWINS Group, Ant Financial, Apiax, Apple, ASIC (Australian Securities & Investments Commission), Avant, Avenir Wealth, Avoca, AXA, Baidu, Bain & Co, Banco Bradesco, Banco de Mexico, Banco Sabadell, Bancorp, Bank of America, Bank of Montreal, Bankia, Bawag, BBVA, Berkshire Hathaway, BillDesk, Billion, Bithumb, BOLT Solutions, Bought by Many, C88, Camilion, Capgemini, China Banking and Insurance Regulatory Commission, China Construction Bank, Cisco, Citibank, Citizens Financial Group, Clifford Chance, CNBV (Comisión Nacional Bancaria y de Valores), Commerzbank, Crepass, Crowdcube, Crunchbase, CSBS (Conference of State Bank Supervisors), CTOS Data Systems Sdn Bhd, Cubo, Currencycloud, Dash, Degenkolb Engineers, Deutsche Bank, Dyson, Engenie, Envel, EQECAT, Equitise, Everest Re, eWally, EY, Facebook, FCA (Financial Conduct Authority), Federal Bank, Federal Deposit Insurance Corp, Federal Reserve Board of Governors, Fidelity International, FinAccel, Fitibit, Flagler, Flipkart, Flybits, Funding Circle, GEM (the Global Earthquake Model), General Atlantic, GoBank, Goldman Sachs, Google, Go-Pay, Green Dot, Hanhua Financial Holding, Hannover-Re Group, HDFC Bank, Hive Up, Holmes Group, HSBC, Iam Money, IBM, ICICI Bank, iFood, IMD, IMF, INEGI, InnoCells, InovaBra, Intermountain, Intessa Sao Paulo, Inviko, Itaú, Japan Post Bank, JFSA (Financial Services Agency of Japan), Joust, JP Morgan Chase, Jumia, Kabbage, KakaoTalk, Kasisto, KoinWorks, Korean Financial Supervisory Institute, Kotak Mahindra Bank, KPS (Korea Pay Services), Kreditech, Kristal Advisors, Legal & General, Lendix, LG, Lidya, Lightpoint Medical, Line, Lloyds Banking Group, Lloyds of London, Lower, Marsh, MAS (Monetary Authority of Singapore), Mastercard, mBank, McDonald’s, McKinsey, Metro Bank, Mizuho Financial Group, Moka, Monese, Moneybeam, Monzo, Moven, Munich Re, NCBiR (the National Center for Research and Development), Nickel, Nomura, Oak North, OCC (Office of the Comptroller of the Currency), One97 Communications, Ooyala, Orange, OVO, PayNow, PayPal, PayPay, PayPoint, Paytm, People’s Bank of China, Perpetual Guardian, Pew Research Center, Pitaia Bank, PNC Financial Services Group, Prudential, Qualcomm, Rabobank, RBS (Royal Bank of Scotland), Rebtel, Redpoint eVentures, Reliance Jio, Reserve Bank of India, RiskBlock, Royal Bank of Canada, Salesforce, Samsung, Santander, Sarwa, Schroders, SEC (Securities and Exchange Commission), Seedrs, Sequoia Capital, SHCP (Secretaría de Hacienda y Crédito Público), Sirius XM Holdings, Slingshot, Snapchat, Sofi, SoftBank Group, Spotcap, Square, Standard Chartered, Starling, Stone & Chalk, TCash, TD Bank Group, Tencent, The Co-operators, Tictail, Toss, TransferWise, Transparency International, Tryg, Twitter, Uber, UBS, US Geological Survey, Venmo, Visa, Volt Bank, Wahana Group, Walmart, WeChat, WeInvest, WeWork, WhatsApp, Windward, Wirecard, World Bank, Y Combinator, Yahoo, Yantra Financial, Zelle.
 

Data & Interactive Forecast

Juniper’s latest Fintech Futures forecast suite includes:

• Regional splits for 8 key global regions, as well as country level data splits for:
  • Canada
  • China
  • France
  • Germany
  • India
  • Japan
  • UK
  • US
• Fintech platform forecast, including transaction values and revenues, across the following segments:
  • Payments & Banking
  • Lending & Financing
  • Insurance
  • Regulatory Compliance
  • Wealth Management
• Access to the full set of forecast data of 19 tables and over 2,300 datapoints.
• Interactive Excel Scenario tool allowing users the ability to manipulate Juniper’s data for 5 different metrics.

Juniper Research’s highly granular interactive Excels enable clients to manipulate Juniper’s forecast data and charts to test their own assumptions using the Interactive Scenario Tool, and compare select markets side by side in customised charts and tables. IFxls greatly increase clients’ ability to both understand a particular market and to integrate their own views into the model.

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Table of Contents

Table of Contents

1. Deep Dive Strategy & Competition

1. Fintech: Market Introduction & Current Status
1.1 Introduction . 7
1.2 Banking . 8
1.2.1 Introduction . 8
Figure 1.1: Influences on Banking. 8
1.2.2 Fintech Solutions & Banking . 9
Figure 1.2: Strategic Focus of Digital Banks . 9
Case Study: European Stars ? Setting their Sights Internationally . 10
1.2.3 What Do the Challengers Offer that’s Different? . 11
1.2.4 Technology Allied with Focus . 11
Case Study: CBW Bank Offers a Glimpse into the Future . 12
1.2.5 Digital Banking is not Just the Preserve of the Developed
World . 12
1.2.4 Digital has its Limits . 12
Figure 1.3: Metro Bank Branch . 12
1.2.6 Incumbents’ Response. 13
Figure 1.4: Strategic Options for Traditional Banks . 13
i. DIY . 13
ii. Partnering . 14
1.2.7 Future of the Branch Network? . 14
1.2.8 New Entrants . 15
1.2.9 Future Outlook . 15
1.3 Payments . 16
1.3.1 Introduction . 16
Figure 1.5: Influences on the Payments market . 16
1.3.2 Fintech Solutions . 17
1.3.3 India Demonstrates that the Payments Market is in a State of Flux . 17
1.3.4 South Korea is Another Payments Incubator . 18
1.3.5 Entrance of the Big Tech Players . 18
Case Study: StoneCo . 19
1.3.6 Incumbents Staying Relevant . 19
1.3.7 Future Outlook . 20
1.4 Lending & Financing . 20
1.4.1 Introduction . 20
Figure 1.6: Influences on Lending & Financing . 21
1.4.2 Fintech Solutions . 22
Figure 1.7: Kueski’s Smartphone Interface . 22
1.4.3 Incumbents’ Response . 23
1.4.4 Techfin Making its Presence Felt . 23
1.4.5 Equity Financing . 24
1.4.6 Future Outlook . 24
1.5 Insurance . 25
1.5.1 Introduction . 25
Figure 1.8: Influences on Insurance . 25
1.5.2 Fintech Solutions . 26
Figure 1.9: Cloud Platform from Slice Labs . 26
1.5.3 Incumbents’ Response. 26
1.5.4 Techfin Beginning to Occur . 27
1.5.5 Future Outlook . 27
1.6 Wealth Management . 28
1.6.1 Introduction . 28
Figure 1.10: Influences on Wealth Management . 28
1.6.2 Fintech Solutions . 28
Case Study: Nutmeg . 29
1.6.3 Banks Eyeing Opportunities in Wealth Management . 29
1.6.4 Future Outlook . 29
1.7 Regulation & Compliance . 30
Figure 1.11: Influences on Regulations & Compliance . 30
1.7.1 Fintech Solutions . 30
1.7.2 Future Outlook . 31
1.8 Fintech Impact on Financial Services . 32
Table 1.12: Fintech Impact on Financial Services . 32
1.9 Technologies Underpinning Fintech Solutions & Notable Investments . 33
1.9.1 Artificial Intelligence . 33
Figure 1.13: Key Technologies Underpinning Fintech Solutions . 33
1.9.2 Blockchain . 34
1.9.3 Endpoint Devices . 34
1.9.4 Notable Investments . 34

2. Fintech: Market Analysis by Region

2.1 Regional Analysis: Country Readiness Index . 38
2.1.1 Introduction . 38
Table 2.1: Macro Factors . 38
Table 2.2: Micro Factors . 39
2.1.2 Summary . 39
Figure 2.3: Fintech Country Readiness Index . 40
2.1.3 North America . 41
i. US . 41
ii. Canada . 42
2.1.4 Latin America . 42
i. Mexico . 42
ii. Brazil . 42
2.1.5 West Europe . 43
i. UK . 43
ii. France . 43
iii. Germany . 44
2.1.6 Central & East Europe . 44
i. Poland . 44
2.1.7 Far East & China/Indian Subcontinent . 44
i. China . 44
ii. Japan . 45
iii. South Korea . 46
iv. India . 46
2.1.8 Rest of Asia Pacific . 46
i. Indonesia . 46
ii. Singapore . 47
iii. Australia . 47
2.1.9 Middle East & Africa . 48
i. Nigeria . 48
ii. South Africa . 48
iii. UAE . 48

3. Fintech Disruptors, Innovators & Future Outlook

3.1 Fintech Player Analysis & Positioning . 50
Figure 3.1: Fintech Disruptors & Challengers Quadrant . 50
3.2 Player Positioning Commentary. 51
3.2.1 Disruptors . 51
3.2.2 Nascent Player . 52
3.2.3 Catalyst Players . 54
3.2.4 Embryonic Players. 54

4. Fintech Futures Player Profiles & Leaderboard

4.1 Introduction . 57
4.2 Vendor Analysis & Juniper Leaderboard . 57
4.2.1 Stakeholder Assessment Criteria. 57
Table 4.1: Fintech Futures Player Capability Criteria . 58
4.2.2 Juniper Leaderboard for Fintech. 59
Figure 4.2: Fintech Futures Stakeholder Leaderboard . 59
Table 4.3: Fintech Futures Leaderboard Scoring . 60
i. Established Leaders . 61
ii. Leading Challengers. 61
iii. Disruptors & Emulators . 62
4.2.4 Limitations & Interpretation . 63
4.3 Fintech Futures Movers & Shakers . 64
4.4 Player Profiles . 66
4.4.1 Ayasdi . 66
i. Corporate . 66
ii. Geographic Spread . 66
iii. Key Clients & Strategic Partnerships . 66
iv. High Level View of Offerings . 66
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 66
4.4.2 Capnovum . 67
i. Corporate . 67
ii. Geographic Spread . 67
iii. Key Clients & Strategic Partnerships . 67
iv. High Level View of Offerings . 67
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 67
4.4.3 Currencycloud . 68
i. Corporate . 68
ii. Geographic Spread . 68
iii. Key Clients & Strategic Partnerships . 68
iv. High Level View of Offerings . 68
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 68
4.4.4 FloodFlash . 69
i. Corporate . 69
ii. Geographic Spread . 69
iii. Key Clients & Strategic Partnerships . 69
iv. High Level View of Offerings . 69
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 69
4.4.5 Jumpstart. 70
i. Corporate . 70
ii. Geographic Spread . 70
iii. Key Clients & Strategic Partnerships . 70
iv. High Level View of Offerings . 70
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 70
4.4.6 Kueski . 71
i. Corporate . 71
ii. Geographic Spread . 71
iii. Key Clients & Strategic Partnerships . 71
iv. High Level View of Offerings . 71
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 71
4.4.7 LenddoEFL . 72
i. Corporate . 72
ii. Geographic Spread . 72
iii. Key Clients & Strategic Partnerships . 72
iv. High Level View of Offerings . 72
Figure 4.4: LenddoEFL’s Decision Making Process . 73
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 73
4.4.8 Pineapple . 73
i. Corporate . 73
ii. Geographic Spread . 74
iii. Key Clients & Strategic Partnerships . 74
iv. High Level View of Offerings . 74
Figure 4.5: Pineapple’s Mobile Interface . 74
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 74
4.4.9 Plum . 75
i. Corporate . 75
ii. Geographic Spread . 75
iii. Key Clients & Strategic Partnerships . 75
iv. High Level View of Offerings . 75
Figure 4.6: Plum’s Chatbot Confirming an Investment . 76
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 76
4.4.10 Prive Technologies . 76
i. Corporate . 76
ii. Geographic Spread . 76
iii. Key Clients & Strategic Partnerships . 76
iv. High Level View of Offerings . 77
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 77
4.4.11 Slice Labs . 77
i. Corporate . 77
ii. Geographic Spread . 78
iii. Key Clients & Strategic Partnerships . 78
iv. High Level View of Offerings . 78
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 78
4.4.12 Spotcap . 78
i. Corporate . 78
ii. Geographic Spread . 79
iii. Key Clients & Strategic Partnerships . 79
iv. High Level View of Offerings . 79
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 79
4.4.13 StoneCo . 79
i. Corporate . 79
ii. Geographic Spread . 80
iii. Key Clients & Strategic Partnerships . 80
iv. High Level View of Offerings . 80
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 80
4.4.14 Syndicate Room . 80
i. Corporate . 80
ii. Geographic Spread . 81
iii. Key Clients & Strategic Partnerships . 81
iv. High Level View of Offerings . 81
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 81
4.4.15 Tradle . 82
i. Corporate . 82
ii. Geographic Spread . 82
iii. Key Clients & Strategic Partnerships . 82
iv. High Level View of Offerings . 82
v. Juniper’s View: Key Strengths & Strategic Development Opportunities . 83

2. Deep Dive Data & Forecasting

1. Fintech Market Forecast Summary

1.1 Introduction . 4
Figure 1.1: The Fintech Landscape . 4
Figure 1.2: Smartphone Installed Base, Split by 8 Key Regions 2013-2023 . 5
1.2 Fintech Market Forecast Summary . 6
1.2.1 Global Fintech Platform Revenues . 6
Figure & Table 1.3: Total Platform Revenues for Fintech Platform Providers ($m),
Split by 8 Key Regions, 2019-2024 . 6
1.2.2 Fintech Platform Revenues Split by Segment . 7
Figure & Table 1.4: Total Platform Revenues for Fintech Platform Providers ($m),
Split by Segment 2019-2024. 7

2. Insurance: Market Forecasts

2.1 Introduction . 9
Tabler 2.2: Biggest Insurance Companies in the World by Net Premiums Written
(2018) . 10
2.1.1 Forecast Methodology. 10
Figure 2.3: Insurance Forecast Methodology . 11
2.2 Insurance Forecasts . 12
2.2.1 Insurance Premiums Generated by Digital Platforms . 12
Figure & Table 2.4: Total Insurance Premiums Generated via Digital Platforms
($m) Split by 8 Key Regions 2019-2024 . 12
2.2.2 Digital Insurance Premiums Generated by Insurtech
Platforms . 13
Figure & Table 2.5: Total Digital Insurance Premiums Generated by Insurtech
Platforms ($m) Split by 8 Key Regions 2019-2024 . 13

3. Regulatory Compliance: Market Forecasts

3.1 Introduction . 15
Figure 3.1: International Regulatory Framework . 15
3.1.1 Forecast Methodology . 16
Figure 3.2: Regulatory Compliance Forecast Methodology . 17
3.2 Regulatory Compliance Forecasts . 18
3.2.1 Global Spend on Regulatory Compliance . 18
Figure & Table 3.3: Global Spend on Regulatory Compliance ($m), Split by 8 Key
Regions 2019-2024 . 18
3.2.2 Total Regtech Spending . 19
Figure & Table 3.4: Total Spending Attributable to Regtech ($m), Split by 8 Key
Regions 2019-2024 . 19

4. Lending & Financing: Market Forecasts

4.1 Introduction . 22
4.1.1 Forecast Methodology . 22
Figure 4.2: Lending & Financing Forecast Methodology . 23
4.2 Lending & Financing Forecasts . 24
4.2.1 Capital Raised via Crowdfunding Services . 24
Figure & Table 4.3: Capital Raised via Crowdfunding Services ($m), Split by 8
Key Regions 2019-2024 . 24
4.2.2 Capital Raised via Online Lending Marketplaces . 25
Figure & Table 4.4: Capital Raised via Online Lending Marketplaces ($m), Split by
8 Key Regions 2019-2024 . 25
4.2.3 Total Capital Raised via Digital Platforms . 26
Figure & Table 4.5: Capital Raised via Digital Platforms ($m), Split by 8 Key
Regions 2019-2024 . 26
4.2.4 Platform Revenues for Lending & Financing Providers . 27
Figure & Table 4.6: Platform Revenues for Lending & Financing Providers ($m),
Split by 8 Key Regions 2019-2024 . 27

5. Payments & Banking: Market Forecasts

5.1 Introduction . 29
5.1.1 Forecast Methodology. 29
Figure 5.1: Payments & Banking Forecast Methodology . 30
5.2 Payments & Banking Forecasts . 31
5.2.1 Digital Payments & Banking Transaction Values . 31
Figure & Table 5.2: Digital Payments & Banking Transaction Values ($m), Split by
8 Key Regions 2019-2024 . 31
5.2.2 Platform Revenues for Digital Payments & Banking
Providers . 32
Figure & Table 5.3: Platform Revenues for Digital Payments & Banking Providers
($m), Split by 8 Key Regions 2019-2024. 32

6. Wealth Management: Market Forecasts

6.1 Introduction . 34
6.1.1 Forecast Methodology. 34
Figure 6.1: Wealth Management Forecast Methodology . 36
6.2 Wealth Management Forecasts . 37
6.2.1 Assets Under Management by Hybrid/Automated
Roboadvisors . 37
Figure & Table 6.2: Total Assets Under Management Value by Hybrid/Automated
Roboadvisors ($bn), Split by 8 Key Regions 2019-2024 . 37
6.2.2 Platform Revenues for Hybrid/Automated Roboadvisor
Providers . 38
Figure & Table 6.3: Platform Revenues for Hybrid/Automated Roboadvisor
Providers ($m), Split by 8 Key Regions 2019-2024 . 38