Fintech cheer: ten reasons to be full of fintech joy

In a recent article for The Banker, Liz Lumley discusses reasons to be cheerful in the fintech industry. Lumley argues that rather than celebrating funding rounds, the focus should be on great products, regulatory compliance, and profitability. She highlights two examples of fintech companies that have achieved profitability: Neo, a cross-border payments and foreign exchange company, and Bunq, a neobank. Neo reported annual revenue of over €5 million and an annual profit of €1 million, while Bunq became Europe’s second most profitable neobank with €53.1 million in net profit in 2023. Lumley concludes that these success stories give reason to be optimistic about the future of fintech.