1、October 2022Europes fintech opportunity Europes fintech opportunityThis article is a collaborative effort by Alessio Botta,Sarina Deuble,Constance Emmanuelli,Fernando Figueiredo,Max Fltotto,Christian Irlbeck,Andr Jerenz,Timo Mauerhoefer,Tunde Olanrewaju,Alessia Vassallo,Stefanie Vielmeier,and Eckart

2、 Windhagen,representing views from McKinseys Financial Services Practice.ContentsExecutive Summary1.Fintechs are a force for growth,modernization,and customer satisfaction in Europes financial-services sectorFintechs are substantially improving customer satisfactionFor the financial ecosystem,fintec

3、hs are a catalyst for disruptive innovation and growthFintechs contribute to economic growth and employment2.The divergent national performance of fintech ecosystems in Europe points to considerable untapped potentialThe variations in Europes fintech ecosystem performance are evident at all three gr

4、owth stagesCountry-specific market conditions explain some of the differences in ecosystem performance across EuropeCalculating the upside:Europes fintech opportunity promises more jobs,larger funding volumes,and higher valuations3.A focused push along six strategic areas could help all European cou

5、ntries catch up with fintech leaders46 67 810 12 17 21 23The deteriorating macroeconomic environment in Europe and around the world is hurting start-ups across sectors and has hit fintechs hard,with valuations declining and access to financing becoming more difficult.1 Viewed from a long-term perspe

6、ctive,however,European fintechs continue to gain in strength and relevance for customers and the economy.In each of the seven largest European economies,as measured by GDP,at least one fintech ranks among the five top banking institutions.2 While some fintechs may not survive the current environment