The annual ranking of the
top 100 fintech players by consultancy Financial Insights and US
publisher SourceMedia reveals that the leading technology vendors
had a relatively strong year. Major players such as FIS and Fiserv
still dominate, though Indian outsourcers continue to climb up the
list quickly.
Major financial technology vendors Fidelity National Information
Services (FIS), Fiserv, NCR, Diebold and Sungard fill the top five
places in the fourth annual FinTech 100 survey from consultancy
Financial Insights and US publisher SourceMedia.
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“The industry is in good health and fintech companies are growing
faster than what the industry spends on technology. Acquisitions
have played a part, but top vendors strive to become trusted
partners with their financial institution customers,” said Jeanne
Capachin, research vice-president of global banking and insurance
at Financial Insights.
Acquisitions were again pivotal in determining the outcome of the
survey, particularly affecting European vendors bought by US
competitors in recent years. In the US, FIS’s recent business
additions helped the company beat Fiserv to the top slot. Outside
the US, major Indian outsourcing firms Tata Consultancy Services
and Infosys moved up a number of places, to ten and 14,
respectively.
Global cards payments giant First Data was among the biggest
fallers, slipping four places to ninth, while Misys, the
UK-headquartered application software and services provider,
dropped a number of slots after another turbulent year in 2006
(see RBI 580). Core banking solution rivals i-flex and
Temenos enjoyed a successful year, however, gaining ground to rank
30th and 46th, respectively.
According to the survey’s authors, Europe’s new regulatory
requirements in terms of risk management and security will remain
dominant themes and will bear heavily on future financial
technology revenues.
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By GlobalDataIn the Europe, Middle East and Africa region there will be an
increasing emphasis on customer service solutions and applications
both in retail banking and wealth management, the survey argued, as
well as considerable additional resources applied to data
management and infrastructure services.
New services, particularly more sophisticated m-banking and
m-payments products, wider acceptance of contactless payments as
well as generally cheaper and faster basic banking services, should
all be significant business drivers for continued technology
investment, the survey added.
