Here is an overview of the FinTech and their Risk Exposure in 2020
Industry comprises around >350 companies. Fintech products can be divided into different categories such as banking, payment or factoring. As shown on the top right, the German Finances Ministry has highlighted growing investments in the Fintech segments, providing a very interesting outlook for the upcoming years.
As the growing public debate about financial crime, especially given the latest scandals (i.e. Wirecard), starts to focus on the legislation and the supervisory authorities effectiveness, it is easily foreseeable how the topic will become more and more prevalent in Germany. Therefore, as the number of Suspicious Activity Reports (with raising operational costs) quadrupled in the last 10 years, the additional scrutiny of the authorities will require a new level of caution and risk handling.