Out of 21 hubs reviewed in the report, the top five positions are held by London, Singapore, New York, Silicon Valley and Hong Kong.
As commented by Louise Brett, Deloitte Lead Partner, “The top five Hubs emerging with an Index Performance Score of 25 or less were London, Singapore, New York, Hong Kong and Silicon Valley. “These hubs already have the appropriate ingredients (i.e. specialized talent, progressive regulatory bodies, investment capital, government support, etc.) and the strong collaboration within the ecosystem that is required to develop leading global FinTech sectors, and which are capable of innovating across the financial services and technology landscape.” Overall, out of 21 hubs, ~43% are in Europe, ~24% are in Asia and ~33% in the rest of the world. Hubs were compared based on several environmental indicators: government support, innovation culture, proximity to customers, proximity to expertise, foreign startups and regulation.