Brazil's Fintech Landscape: Key Takeaways from the Distrito 2023 Report
Report analysis
In the rapidly evolving landscape of financial technology, the "Distrito FinTech Report 2023" explores this sector in Brazil. The comprehensive study delves deep into Brazil’s fintech ecosystem, and maps out performance and the potential of multiple startups, and draws out insights from the top 100 fintechs...
In the rapidly evolving landscape of financial technology, the "Distrito FinTech Report 2023" explores this sector in Brazil. The comprehensive study delves deep into Brazil’s fintech ecosystem, and maps out performance and the potential of multiple startups, and draws out insights from the top 100 fintechs across various categories.
Our key takeaways:
Shift in Fintech Business Models: After a period of rapid growth in fintech businesses since 2013, there's been a shift from rapid growth to protecting profitability indicators. Many fintechs are transitioning from B2C to B2B models, which offer more consistent and predictable revenue streams.
Radar Top 100 Breakdown: The report provides a breakdown of the top 100 fintechs in various categories: Credit: 25 Open Finance: 20 Backoffice Financial Management: 13 Investments: 10 Infrastructure: 10 Payment Methods: 6 Payment Processing: 5 Digital Banks and Accounts: 4 Risk, Compliance, and Data Analysis: 4 Banking as a Service: 3
Brazil's Position: A study by ComScore in 2021 showed that 73% of Brazilians had access to internet banking, placing Brazil at the forefront of banking digitalization in Latin America. The 2021 Global Fintechs Rankings by Findexable revealed that Brazil is one of the major global fintech ecosystems, ranking 14th globally.
Cybersecurity Concerns: There has been a significant increase in global cyberattacks. This rise is largely driven by a growing number of smaller, agile criminal groups targeting business collaboration tools like Slack, Teams, OneDrive, and Google Drive.
Future of Fintech: The future of fintech will involve a focus on efficiency and specialization, leveraging data, and intensive application of artificial intelligence. The report suggests that the future might see a shift towards "techFIN", emphasizing the application of technology for providing financial services.
The report also sheds light on the average ticket sizes on Brazilian fintechs for the year 2022.
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