There are many problems with the money systems that have not been solved. There are certain issues that traditional systems suffer with and that include real time payment systems, need for better encryption techniques and reducing pain points for end-consumers. Some leading FinTech players have resolved such issues and are transforming the way individuals and institutions engage with money. They are indeed coming up with radical solutions and giving a tough response to traditional players such as banks and networks.
The Finovate blog recently came up with its FinTech Unicorn List highlighting the enterprise value of innovative FinTech players in the business. The insights on the enterprise value have been derived by Finovate from numerous sources such as Funderbeam, The Wall Street Journal, CB Insights, funding rounds and other public data. From the FinTech Unicorn List, 26 companies have an enterprise value of 1 billion or more. The companies are represented by the following illustration:
Many of these 26 companies come from either the payments segment or the lending space. The blog post shows the analysis of 36 companies in total who have been marked as Unicorn FinTech companies. Out of these 36 companies, 11 companies each are from the payments and lending segments respectively. The remaining companies belong to other segments like investing, real estate, insurance, accounting, credit reports, security and bitcoin.
(Source: Finovate blog)