Global fintech market outlook (third quarter 2022)

GP Bullhound publishes qualitative insights into broader Fintech trends and public and private assessments across the business spectrum, as well as interviews with today’s leaders who are transforming the industry.

Claudio Alvarez, Partner of GP Bullhound, commented: “Several key trends continued to emerge in the third quarter of 2022. India has established itself as a leading fintech hub, with over 4,000 fintech companies and 20 fintech unicorns. Further innovations. and space adoptions are expected across the country. Crypto wallets bridge the gap between consumers and the blockchain, with the possibility of a market-leading wallet wide open. Finally, behavioral authentication continues to grow, with an increasing number of users who recognize its potential against online banking fraud. As far as deals are concerned, fintech activity remained weak due to continuing macroeconomic uncertainty, but category leaders such as Klarna and wefox continued to raise capital, despite the difficult fundraising context.

What’s the trend this quarter in Fintech?

India is now recognized as one of the leading fintech ecosystems

– India is now home to over 4,200 fintechs and over 20 unicorn fintechs, establishing itself as one of the leading fintech economies globally. Major Fintech verticals include payments, loans, and neo-banks
– Positive regulatory reform and increased digital penetration have spurred Fintech innovation and adoption across India. This has attracted the interest of major institutional investors, including Sequoia Capital which has opened offices in the country.

The next step in adopting web3 is the simplified integration of the crypto wallet

– Crypto wallets are the bridge between consumers and blockchain technology, naturally reinforcing the importance of wallets in the Web3 and the adoption of cryptocurrency
– 2 million active wallets interacted with blockchain technologies on average per day as of September 2022. With over 5 billion people worldwide having access to the internet, the opportunity to be the market leader in wallets is wide open

Is Behavioral Biometrics the Future of Fraud Prevention?

– With 93% of all banking fraud attacks occurring online, strong authentication and financial crime prevention technologies have become a key area of ​​interest for online banking providers.
Behavioral biometrics technologies measure unique patterns of human activity and compare them to past actions to detect anomalies and block bad actors

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GP Bullhound is a leading investment and technology consulting firm, providing transaction and capital advice to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the company now has 12 offices in Europe, the United States and Asia.

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