The term "Fintech" refers to companies in a particular market segment that arises from the encounter between financial services and the technology sector. A number of technological start-ups and new market players capable of innovating the financial products and services offered by the traditional financial industry are entering this ambit.
Among the various countries in first place for investments in this area are the United States, even if there is considerable growth in the market in Europe and Asia. On the other hand, post-Brexit investments in the United Kingdom are declining. Among the most important activities carried out by Fintechs are: a) social lending through the granting of "peer-to-peer" loans on dedicated marketplaces; b) roboadvisory, i.e. the creation of online platforms that offer savers investment solutions by operating as a virtual financial advisor; c) the creation of new retail payment circuits and money transfer systems between users from mobile devices.
However, the range of possible applications is very broad and constantly evolving. Numerous studies report the potential impact of Fintechs on the traditional banking system. 95% of banks believe part of their business is at risk. Faced with this scenario, most of the banks, to varying degrees, have begun to collaborate and/or finance Fintech start-ups, following various strategies. According to a survey carried out in 2016 among financial intermediaries, 1 out of 4 declared that they did not have any relationship with Fintech companies, almost 1 out of 3 claimed to have businesses in common, 15% created incubators while only the '11% have launched their own Fintech.
In general, among the various types of approach, the use of outsourcing appears to prevail over the in-house development of Fintech companies.
In Italy the market presents a dynamic similar to that of other countries even if on a smaller scale. In 2015, Italian Fintechs raised 33,6 million euros, a value four times greater than that of 2014. Among the various segments, the one that has most attracted investments is crowdfunding, towards which 45% of the total funds have flowed. Almost half of Italian Fintech companies are registered as innovative startups and are mainly based in Northern Italy where 77% of companies are concentrated compared to 11% in the center and 12% in the southern regions.
