With increasing investments, rising user adoption and digital acceleration due to the Covid-19 pandemic, the Fintech industry has grown exponentially over the past couple of years. 

The Fintech Industry Represents Almost 40% of Banking

In 2010, the Fintech industry represented almost nothing compared to traditional banking – less than 3%. Now, more than 10 years later, the market capitalisation of the top 100 Fintech companies account for almost 40% of the top 100 banks. Over the years, Fintech has become synonymous with the word ‘startup’. However, it is clear that the industry is maturing to the point where its influence and reach is starting to challenge its traditional counterparts. 

Fintech Represents 50% of the largest Financial Institutions

If we zoom in and look at only the top 10 financial institutions, in 2010 all of the spots were occupied by traditional banks. However, in only 10 years, we see that the landscape has shifted and Paytech companies such as Visa or Mastercard are dominating the Finance industry. The notion that Fintech comprises just small startups is simply untrue as currently, Fintech accounts for 50% of the top 10 financial institutions. 

The Future of Finance

The growth of Fintech does not necessarily imply the decline of banks. The divide between Fintech and traditional finance isn’t as clear and this distinction is likely to get more and more blurry as these worlds converge. At CFTE, our definition of Fintech is: “the impact that technology is having on financial services”. Therefore, banks shouldn’t shy away from the exciting innovations and disruptions happening in the industry currently, but rather embrace them through in-house initiatives, external partnerships or investments in Fintech companies. 

To learn more about the landscape of jobs in Fintech and gain an insight on the necessary skills to succeed in this dynamic and ever-evolving industry, download the world’s first Fintech Job Report.

Learn the skills of Fintech

Learn the skills of Fintech

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Frequently Asked Questions

The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital revolution in finance. CFTE’s courses are globally recognised with accreditations from ACT, IBF, CPD, SkillsFuture and ABS.

At CFTE, our mission resonates with every learner’s goals to rapidly advance in their career, to thrive in their next project or even to lead the disruption in finance with their own venture. To help you do this, CFTE gives you the tools you need to master the right skills in digital finance. We bring exclusive insights from leaders that are steering the developments in the financial sphere from global CEOs to disruptive entrepreneurs. With CFTE you don’t just learn what’s in the books, you live the experience by grasping real-world applications.

If you are looking for rich insights into how the Financial Technology arena is transforming from within, we can help you get the latest knowledge that will stir things up in your career. CFTE offers leading online programmes in digital finance, covering an expanse of topics like – Payments, AI, Open Banking, Platforms, Fintech, Intrapreneurship and more, that will help you conquer the financial technology landscape. With this expertise at your disposal, you will be on track to turbocharge your career.

You will be learning from a curated line-up of industry leaders, experts, and entrepreneurs hailing from Fortune 500 companies and Tech Unicorns, among others. They will each be presenting their knowledge and experience in the field of digital finance. No matter if you are embarking on a new journey or fortifying your role, these lecturers and guest experts will guide you through the perspective of established institutions like – Starling Bank, Wells Fargo, tech giants like – Google, IBM, successful startups such as – Kabbage or Plaid, among many more!