• Innovation

FinTech in the USA

Following the boom years of 2014 and 2015, the United States now accounts for 57% of the global market for FinTechs. It’s a position that can be explained by the scale of a market that includes nearly 40% of the world’s millionaires. This environment enables FinTechs to grow in a very dynamic way, launching solutions focused on payments, credit, and more recently, asset management and investment banking.

Distribution of the global market for FinTech


uniTED STates





But how do they grow?

After expanding their activities to all of the US states, FinTechs usually export their businesses to Canada and Australia, before targeting Asia or Europe, starting with the UK and followed by Germany and France. But internationalisation is sometimes complicated by the sector that these startups operate in. For example, it’s very difficult for a FinTech working in the consumer lending sector to offer the same product in both the United States and France, as this type of product is subject to very different legislation from one country to the next.

An alternative solution may involve working with large companies through partnerships or accelerators, such as the Fintech Accelerator by L’Atelier BNP Paribas (unavailable link). One thing is certain: FinTechs offer valuable expertise to large companies in terms of their knowledge of customer needs.  These are frequently win-win partnerships, as startups are increasingly opting for B2B (Business to Business) or B2B2C (Business to Business to Consumer) activities in order to ensure revenue and identify partners or investors. 

Any advice for FinTechs ?

First, they should install and test their products, so they can use customer feedback to improve. Next, they should work to build trust by identifying the regulatory environment, improving their products, and continually identifying better ways to meet customers’ needs.

Read the full analysis of the FinTech phenomenon in the United States by Matthew Soulé, Senior Strategic Analyst at L’Atelier BNP Paribas’ San Francisco office.

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