The fintech industry is rapidly evolving and disrupting traditional financial systems. In this article, we bring you the latest research insights to help you stay ahead of the curve and understand the future of financial technology. Enjoy researching!
New research from ECE and RSM – the ScaleUp Dashboard 2023 (Rotterdam School of Management)
The Erasmus Centre for Entrepreneurship (ECE) and Rotterdam School of Management, Erasmus University (RSM), report an 8.5% increase in the number of fast-growing companies in the Netherlands, reaching 2,805, according to the ScaleUp Dashboard 2023. Despite challenges faced by some high-growth firms (HGFs), there’s an overall improvement, with lessons learned emphasizing the importance of transitioning to scaling for increased resilience. The report also highlights the persistent gap between leading companies and the rest, and the need for HGFs to adapt to changing conditions, with artificial intelligence offering new opportunities for innovation and value creation. Read more
EIF Working Paper 2023/96, The European Small Business Finance Outlook 2023.
(EIF)
Europe’s economic outlook has slightly worsened since the November 2022 edition of the ESBFO, with economic recovery losing momentum amid inflation concerns. The European PE/VC ecosystem faces challenges in 2023, including difficulties in equity financing, a tough exit environment, and fundraising issues, prompting the need for continuous market analysis and policy support. The EIF aims to support the European PE/VC market and enhance the SME securitisation market, emphasizing the importance of sustained assistance for SMEs in navigating changing economic conditions and contributing to the EU’s green transition goals. Read more
Guide: Banking and financial services – 7 critical success factors for moving to open source databases (Fintech Futures)
The BFSI industry is undergoing a transformation led by innovative fintechs, prompting traditional institutions to either digitally transform or risk obsolescence. Fintechs leverage open banking, adopting mobile-first approaches and utilizing open source software for agile development, compelling customer experiences, and rapid app deployment. Digital transformation, crucial for future growth, involves optimizing data as an asset, enhancing agility, decision-making, cost efficiency, and risk minimization. To address the challenges, many BFSI firms are turning to open source technologies, particularly open source databases like Postgres, offering flexibility and robust functionality. The guide explores why open source is ideal for BFSI committed to digital transformation and outlines key success factors for transitioning to open source databases like Postgres. Read more
An update on US consumer sentiment: Caution heading into 2024 (McKinsey)
According to a recent study by McKinsey. US consumers exercise caution in spending as uncertainties persist, with a focus on reducing overall spend and being selective in product choices. Despite a slight uptick in pessimism, spending expectations rise, and consumers adjust habits by prioritizing essential items, adapting purchasing behavior, and utilizing buy now, pay later services, particularly during the holiday season. Read more
IT budgets should increase in 2024, but it still could be tough going for startups (Tech Crunch)
Despite predicted growth in IT budgets for 2024, startups may face continued challenges, with the new economic era suggesting a less free flow of money. The experts anticipate that startups lacking sufficient capital may struggle, emphasizing the need for startups to prove their value, secure enough cash to navigate extended sales cycles, and compete for their share of enterprise budgets. The budget outlook shows a predicted growth of 6.8% by IDC and 8.2% by Gartner, providing opportunities for startups dependent on enterprise buyers, but challenges persist, resembling the conditions experienced in 2023. Read more
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