Now in its sixth edition, the report highlights innovative fintechs that create products and services at the juncture of technology and financial services, seeking to disrupt the products and processes dominant in the marketplace.
Payments and transaction companies form the largest group on the 2019 Fintech100 list, representing 27 of the ranked firms. Wealth and insurance companies have continued to rise in prominence this year. Four of the seven Australian companies ranked are payments companies.
The Asia-Pacific region dominates the rankings, with Ant Financial (China) coming in first place for the second year running, followed by Grab (Singapore) and JD Digits (China). China has dominated the Fintech100 for the past three years and this year is no different, with three Chinese fintechs in the Top10. We are also seeing the emergence of India as a fintech force, taking out two of the top 10 positions.
Seven Australian fintechs were selected among the world’s leading players, with cross-border payment provider Airwallex the highest ranked Australian firm at #32 on the Top 50 Established firms, having risen from #49 in 2018. It’s followed by challenger bank Judo Bank at #33 and online payment service AfterPay Touch at #47. On the Top 50 Emerging firms list, Australian fintechs included mortgage provider Athena Home Loans, voice analysis engine daisee, disaster response provider Sempo and smart receipts app Slyp.