From CNBC:

1. The fintech industry in Europe is facing a squeeze as privately-held start-ups compete with incumbent banks for market share. Global investment in fintech fell by half in 2023, with overall investment sinking by 48% from 2022. However, the United Arab Emirates saw a 92% increase in total investment.

2. Innovate Finance reported that the U.K. was the second-largest hub for fintech investment in 2023, with total funding for the country’s financial technology industry totaling $5.1 billion. London fintechs pulled in $4.5 billion of that investment, showcasing the city’s dominance in European fintech funding.

3. In the U.K., female-led fintechs were able to secure 59 deals, representing 10.5% of the total funding. The U.K. also remains a global leader in fintech, but there is a need for effective and efficient regulation to support the industry and foster innovation. The government will focus on stablecoins, crypto, and open banking in 2024.

4. The fintech investment landscape globally saw the United States as the biggest country for investment, with $24 billion in total investment. India, Singapore, and China followed, and the top five biggest deals globally in 2023 amounted to over $9 billion. Stripe pulled in the most significant investment deal, raising $6.9 billion.



Read more: Global fintech investment plunges 51% in 2023 but UAE defies slowdown