news - Will FinTechs surpass traditional banks in emerging markets?

Jürgen Rigterink, CEO FMO will be discussing the impact of FinTechs in emerging markets during the FT Banking Summit panel discussion: Innovation and Impact: How is FinTech shaping banking, how is banking shaping FinTech and how are both shaping business across the world? 

Fintech technology is critical in driving social and financial inclusion across emerging markets. Globally 2 billion people do not have a bank account, and without accounts, they cannot access loans, pay insurance and healthcare premiums or build a business.

Digitalizing finance could reap huge rewards especially for emerging markets SME’s and consumers. It could open up $2.1 trillion in new credit, $4.2 trillion in new deposits, boosting emerging market GDP by 6% by 2025.

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