Top 10 Fintech Companies In The World And How To Benefit From Their Activities 

Top 10 Fintech Companies In The World And How To Benefit From Their Activities 

Top 10 Fintech Companies In The World And How To Benefit From Their Activities

Fintech is an amalgamation of finance and technology, and it is fast gaining ground in the future of the financial world. Fintech is the combination of the word, “Financial Technology”. It is used to define a new tech that strives to enhance and automate the delivery of financial operations. It is used to help business owners and companies to manage their financial operations and processes better, through the use of specialized software and algorithms.

According to Pierre Gramegna, the Minister of Finance in Luxembourg, he said, ” FinTech is not only an enabler but the driving engine.” When Fintech first arrived in the 21st century, it only applied to the technology used at the back-end systems of established financial institutions. But since then, there has been a change to more consumer-oriented services and hence, a more consumer-oriented definition. Fintech now involves different sectors such as retail banking, education, investment management, among others.

Fintech is also used in the use and development of cryptocurrencies, such as bitcoin. This may be said to be the most important use of fintech, as more money lies in the traditional global banking industry. Fintech companies use technology to lower costs, make processes simpler, and broaden the market for their services. Their aim is to modify health insurance and small business accounting.

Below are the top 10 Fintech companies in the world.

  1. Adyen

This company provides businesses with just one platform to receive payments via any sales medium anywhere in the world. It is based in the Netherlands and was founded in 2006. This company operates more than 4,500 businesses, processing mobile, online, and in-store payments. It keeps growing and increasing at a fast pace, and has a remarkable list of customers, which includes Uber, Facebook, Netflix, Spotify, Burberry, Microsoft, Symantec, and L’Oreal. Adyen trades on the Euronext exchange.

  1. Qudian

Qudian is a China-based FinTech firm in the lending business. It operates as a micro-loan site, an installment payment site, and an investment management platform. The company has established partnerships with different e-commerce corporations, digital, and financial services in order to attract more customers. Qudian specializes in small loans to Chinese consumers, who have proven averse to credit cards. Earlier this year, 2020, it withdrew its recommendation for fiscal 2019, highlighting complications causes by a stricter regulatory environment and tougher consumer privacy rules.  

  1. Ant Financial

Ant Financial is a China-based spin-off from the Alibaba Group (BABA), originated from Alipay. It was founded in 2014 and is the world’s leading third-party payment platform. It has been in use since 2004, and today, it runs Ant Fortune, Alipay, Ant Financial Cloud, and other financial services. Ant Financial and its associates offer services in wealth management, credit reporting, payments, private banking, and cloud computing. The business value was computed at $150 billion in 2018, and plans for an IPO in Hong Kong, mainland, and China, and is currently reviewing its activities in 2020.

Top 10 Fintech Companies In The World And How To Benefit From Their Activities

  1. SoFi

SoFi was created by four students who met at Stanford Graduate School of Business in 2011. The company calls itself, “a new kind of finance company”. It takes a non-traditional strategy for lending and wealth management. The company currently offers student loan refinancing, personal loans, mortgage loans, wealth management, and life insurance. It has grown to become a multi-billion-dollar company and has more than $19 billion of funded loans and more than 900,000 members. It recently introduced a new product called Stock Bits, where consumers can buy and sell fractional shares of 50 popular stocks, for as small as $1. It is expected to have an IPO someday in the future.

  1. Xero

Xero was founded in 2006 in New Zealand and has become one of the fastest-growing ” software as a service” companies. The activities of the company include automated daily bank feeds, invoices, creditors, debtors, full accrual accounting system with a cashbook, sales tax, and reporting. The company creates an easy-to-use online accounting software for small businesses, and as at the end of 2019, it had more than 1.8 million subscribers. In 2014 and 2015, Xero was recognized by Forbes as one of the World’s most innovative growth companies.

 

Read Also: Top 7 Highly Rewarding Careers Born Out Of The Intermarriage Of Business And Technology

 

  1. Avant

Avant was founded in 2012. It is a privately owned, Chicago based online lending platform. The goal of the company is to reduce the costs and complications involved in borrowing money for middle-income earners. It uses proprietary software to tax the creditworthiness of customers for unsecured private loans and credit cards, with an interest rate of 10% to 36%. As of May 2019, the company had more than 800,000 customers and had loaned out $6.5 billion.

  1. ZhongAn

ZhongAn Online P&C Insurance Company, Limited, was founded in 2013 by Alibaba Executive Chairman, Jack Ma Yun, Tencent Chairman, Pony Ma Huateng, and Ping An Insurance Group Co. of China Limited chairman, Peter Ma Mingzhe. The company is based in Shanghai headquarters and is an online-only insurance company. When the company was newly established, it attained 150 million clients in the first year and wrote 630 million insurance policies. The company went public on the Hong Kong Stock Exchange in mid-2017.

Top 10 Fintech Companies In The World And How To Benefit From Their Activities

  1. Oscar

Oscar is a health insurance company that aims to boost the American healthcare system with the use of information technology. It was founded in 2013 and aims to deliver a more transparent and faster medical request process at a reasonable price. Prominent contributors for Oscar include Google Capital, Fidelity, and Khosla Ventures. Khosla Ventures describes Oscar as, “a new kind of heth insurance company that is using technology to make insurance simple, intuitive, and human.”

  1. Lufax

Lufax was founded in 2011 in Shanghai, owned by Ping An Group, an insurance company. It is mainly a peer-to-peer lending company, that matches businesses and individuals with investors for a price. Lufax has a strong presence in China. But, in 2019, the company was recorded to be deducting from the loan industry due to recent regulatory barriers inflicted by the Chinese government. Rather, it was utilizing its skill in big data and information technologies to concentrate on wealth management, consulting services, and risk management.

  1. Klarna

Klarna is a Swedish company founded in 2005. It is one of Europe’s largest banks, but from customer’s opinions, it seems to be a shopping app. Its users are calculated to be about 85 million in 17 countries and are in business with 205,000 dealers. Klarna uses its proprietary software to assess a customer at the point of purchase, rather than offering a line of credit like other conventional lenders. The company generates income by charging merchants a small marketing fee, and also by charging customers who choose their installment payment plan. As of May 2020, Klarna was in the process of an IPO.

Hope you enjoy this article?

Share your thoughts in the comment session.

Contact us today for your business consultancy and business advisory services. We can help you fine tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write business plan and help with fund raising strategies and Grant applications. We can help you start, grow and expand your business.

Call or WhatsApp us now on 081 0563 6015, 080 7635 9735, 08113205312 or send email to dayohub@gmail.com  and we will solve any of your business problem.

 

 

Enter your name and email and get the weekly newsletter.. Joining is FREE!

Dayo Adetiloye Logo

Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
– Provide bespoke management and business planning consultancy
– To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
– To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

– Engender national prosperity by contributing to the creation of at least 100 new businesses every year
– Become a go-to brand for outstanding business development services for MSMEs
– Strategic partnership with local and international organization to empower start-ups
– Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Share this:

GI Vital Soft Gel

Grant Winning Blueprint

How to Turn Yourself into a Live Breathing Cash Machine

Ecommerce Business

Follow me on Facebook

Follow me on Twitter

Share this:

LinkedIn
Facebook
Twitter
Email

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

About Us

Dayoadetiloye.com is a property of Dayo Adetiloye Business Hub committed to connecting entrepreneurs with resources.

We are one stop Business Resource Center where we help you discover, Develop and Fulfil your business potentials.

On this platform, we help you develop business plans and strategies, connect you with funding opportunities and share with your business opportunities.

Facebook Community: https://www.facebook.com/groups/156197005130352/

Twitter: www.twitter.com/dayoadetiloye

Email: Dayohub@gmail.com

Copyright 2023 All rights reserved