Fintech Salary Survey
Our UK office has established their annual Fintech Salary Survey. Herewith the summary of the findings.
On a global scale, fintech is growing at a considerable pace and during June-December of last year, investment over the world hit a new record at just under $58 billion for 875 new deals. This represented a 34% increase against 2017 as a whole, which record only $38 billion in total fintech funding.
The findings were gathered by KMPG as part of their regular ‘Pulse of Fintech’ report. The consultancy’s latest datasets help to disprove the fears that Brexit may be threatening the UK’s Fintech startup scene, with venture capitalists instead looking to the country’s talent and reputation for innovation as a hotspot for investment.
The UK holds the fintech crown
With the UK now enjoying its position as the fintech leader – particularly in London which is widely viewed as being the industry’s global capital, the future looks excellent for further growth. KPMG Fintech co-lead, Anton Ruddenklau, said that the figures demonstrated a particularly strong result for the country, with bullish investment levels combining with ongoing support from the government via its Fintech Sector Strategy. Amsterdam is now in ninth place just after Frankfurt.
The hottest sectors for VCs
So which are the hottest fintech sectors in for investment? AI and robotic process automation dominate, and regtech is also showing strong growth after the GDPR came into force. KMPG’s analysts believe that fintech will continue to be strong until the end of this year, with deals looking particularly healthy in areas such as digital identification verification, wealth management and regtetch.
More challenging areas
However, other fintech areas are likely to struggle, including lending and payments, which are already mature markets and likely to see consolidation over the coming year. Of these, strong existing platforms are likely to continue to show traction in their markets, and smaller ones may struggle to achieve the scale that they need to make a profitable mark.
KPMG head of technology, Anna Scally, added that the impacts of open banking and PSD2 were also yet to be fully felt in the industry, offering opportunities and challenges for startups, financial services firms and tech innovators alike. She added that she expected to see the number of business opportunities continuing to grow as a whole, with bigger tech players working hard to more aggressively maximise their data exploitation for the creation of new opportunities. KMPG also expects to see new fintech starts ups appearing, scale-ups achieving a new degree of success and the fintech playing field generally becoming more level and with increased value add-on offer for those businesses ready and poised to take advantage of the opportunities available.
Fintech Salary Survey 2018
Do you want to know the the current salaries being paid to executives in the c-suite? Then download our 2018 Fintech Salary Survey now.
For further information on how we can assist you in finding the best talent contact our colleagues Paul Battye on +44 203 500 0352 or Dave Heilbron +31 (0)20 462 30 60