Role of IMSS in the Fintech hub of Europe
London is home to many financial services companies and also where many big banks have European or global headquarters. the financial crisis of 2007 -which caused many layoffs in the sector-paired with the attractiveness of startups, contributed to the establishment of London as a hub for FinTech
London FinTech startups are among the promising areas of investment at the moment. With prominent British based ventures leading the FinTech pack it should come as no surprise that around 40% of all European fintech investment is happening in the UK & Ireland, as reported in a recent Accenture study. With more than 135,00 people in this industry, London is quickly becoming a FinTech capital of Europe.
IMSS delivered FinTech solutions to multiple customers around the world and Europe in particular. One of the huge projects IMSS handled was a mWallet platform as well as apps for a large platform provider which is now deployed with multiple telcos as well as financial institutions.
“FinTech is now not only a key part of the revenue augmentation strategy for many companies, it is now a key part of monetization strategy. Because of mobility and smart devices, we think that’s going to accelerate.” – our COO Sridhar Karra says.
“While there is a general rising trend of FinTech penetration around the world with US and UK driving the growth, the market is also growing rapidly in Asian countries with investments in Asia-Pacific growing fast.” – adds Sridhar.
Either way, FinTech industry growth looks bright with London, San Francisco driving the technology growth and Asian countries driving the adoption.