Financial Tech Companies – EU Financial Services Tech Firms Under Pressure
” Message from Jeremy : For those new to Tech IT Easy, who could obviously not remember the initial announcement, I have invited my friend and fellow Alexandre Lucas to help me try to provide you, dear readership, with everyday better analyses on software, telecom & Internet trends. Alex’s mission statement is basically to go further into the details, from both a financial and a strategic angle. Alex, the floor is yours…”
Following another interesting ranking mentionned by Jeremy in his post, FinTech recently published its ranking of financial technology firms.
The 11 European firms included in this ranking have lost ground compared to 2005. among those who slipped back, there is Reuters, the only non-US firm in the Top 10, but also Misys which is now 14th.
To Indian companies have joined the US-dominated Top 20 : Tata Consultancy Services and Infosys Technologies.
FinTech lists providers of technology solutions for financial services providers which require top notch IT.
Today, the ability to master the technology seems more than before a barrier to entry which would impede other players to the enter the financial services industry. The entry of the Indians is characteristic of the cost advantage of India for grey matter.
Traditionally, US companies spend more money on IT than their European counterparts. It is surprising to see that UK players are not among the Top 20 since London is a premier financial place. It seems that in the world of technology for financial services, it is possible to dominate a market from afar – this is indeed a new challenge for the EU which is trying to gather pace in the technology race through numerous (but insufficient) public investments.
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Financial services have indeed been leading IT consumption for quite a while now. Did you know that JP Morgan spends 7 billion dollars a year in IT R&D? 7 billion dollars!!! The same amount Microsoft spends in R&D every year.
The loss of competitiveness in Europe is relative to the leadership of American and Japanese banks I guess, plus the fast growth of emerging markets. I’m not worried about the EU: the soon-to-come consolidation of financial marketplaces will boost IT investments for quite a while.
Salut Jérémy,
J’avais bien reçu ton post, cet été, où tu me demandais de tenir mon blog à jour. C’est vrai que je n’ai pas eu le temps de bien m’en occuper dernièrement, mais je vais essayer d’y remédier.
Hier, je l’ai actualisé avec un sujet, depuis largement repris par les médias français. Mais, je dois dire que j’étais parmi les premiers à en parler. Il s’agit du rapprochement entre Dieudonné et Le Pen.
Voici le lien : http://dansette.over-blog.com/article-4529958.html
Du coup, je suis retourné sur ton blog en m’apercevant que tu avais changé d’adresse. Je vais donc réactualiser mon lien le plus tôt possible.
A très bientôt
Christophe
Salut Christophe, merci pour l’update et à bientôt!