PwC has announced the release of a new report focusing on the Italian fintech sector and its response to the pandemic. The report found that collaboration is the way for a more mature and sustainable growth of Italian fintech.
The report analyses in detail the fintech evolution within the Italian market, focusing on financial data and investments, providing a mapping and classification of over 400 companies, of which 300 fintech and 100 TechFin and highlighting trends and stories.
The Italian fintech sector overall positively overcame the pandemic crisis, with an increase of revenues of 31% in 2020 and with the entrance of over 50 new fintechs within the 2021 Observatory.
Fintech growth is particularly strong within the segments that were able to respond to the new needs brought by the pandemic, such as Lending (+37%), which was able to face the increasing credit demand from Italian SME, and InsurTech (+22%).
PwC analysis performed across 2020-2021 within the Italian fintech sector also shows the increasing focus on new collaboration forms: partnerships and Open innovation projects, new joint ventures, direct investments and acquisitions have engaged both fintechs, Challenger Banks, Incumbents (such as Banks, Insurance companies, traditional financial operators) and Public Administration and Professional Associations as well as some big industrial groups.
To read the report in full, click here.
