The Netherlands is known as a knowledge economy and is ranked among the top ten on IMD’s list of technology adoption. Thought leadership, pragmatic innovation, and seamless implementation are some key features of the country’s economy. Amsterdam Internet Exchange, the second-largest Internet exchange in the world, houses multiple data centers. The smartphone penetration in the country amounted to 93% as of 2019, making it a perfect testing ground for futuristic FinTech.
Core banking and giro payments have been the strongest technology innovation areas in the Netherlands. Currently, however, the country’s FinTech strength lies in Digital Payments, Alternative Lending, and Investments. Adyen, Ohpen, and BUX are the local FinTech leaders. The country has a rich ecosystem of over 600 FinTech companies, demonstrating innovation at the intersection of technology and the financial sector. The Hague is becoming a hub for pension fund management and impact finance.
The FinTech Space in the Netherlands Attracted Some Significant Investments Amid the COVID-19 Crisis in 2020
FinTech is Europe’s largest investment category, with over $35 billion of venture capital invested since 2014. Although the Dutch FinTech market has a limited number of large companies, it has numerous smaller companies and is in the growth stage. FinTechs founded af …