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GoCardless Tops Juniper Leaderboard for Fintech: A Sector Worth More Than $220 Billion in 2018

Revenues for Industry to Double Over Next 5 Years

Hampshire, UK: 29th November 2017: A new study from Juniper Research ranks GoCardless as the current clear leader in the fintech market. GoCardless enables simple payment processing and integration with many popular services, and Juniper believes that its potential for efficient, borderless commerce is disruptive and far-reaching.

Juniper’s Fintech Leaderboard Ranking

  1. GoCardless
  2. Onfido
  3. Square
  4. Lemonade
  5. Kabbage

The research, Fintech Futures: Market Disruption, Leading Innovators & Emerging Opportunities 2017-2022, ranked these vendors as ‘leaders’ in the emerging fintech sector, a sector which Juniper values at $223 billion by revenue in 2018. The research firm forecasts $411 billion by 2022, growing at an average annual rate of 16.5%.

Read more in Juniper’s complimentary whitepaper, The Future of Fintech – Disrupt, Collaborate or Die.

Increasing Collaboration Between Fintech & Financial Services

Additionally, Juniper found that fintech is transitioning from a B2C (Business to Consumer) focus to a B2B (Business to Business) one. As fintech matures as a market, traditional FIs (Financial Institutions) are realising the opportunity it represents. Banks, in particular, are using new support services to simplify their regulatory burdens, driving Regtech to represent nearly 19% of total fintech revenues in 2022, up from 5% in 2017.

Juniper predicted that incumbent investment in fintech will dramatically rise, as they seek to transform their existing models. Research author Nick Maynard added: “FIs are no longer afraid of fintech, rather they see the benefit of harnessing it. Traditional FIs can utilise fintech platforms to increase the appeal of their solutions and widen them out to the largest possible market."

Advanced Technology No Substitute for Solving the Problem

While technologies such as AI and blockchain have a bright future in financial services, the new study found the most promising disruptive approaches utilise mobile-first strategies. In the banking sector, smartphone app-based challenger banks like Atom and Monzo are leading the way in providing compelling customer experiences.

Juniper stressed that vendors in the fintech market must focus on solving their customers’ issue, using whatever technologies, however basic, to address the issue and achieve success.

Juniper Research is acknowledged as the leading analyst house in the digital commerce and fintech sector, delivering pioneering research into payments, banking and financial services for more than a decade.

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