Amsterdam, a leading force in FinTech
The FinTech industry in Amsterdam is booming: with over 350 companies in the city – including Currence, startup Bunq and World First – the city is renowned for its innovations and advancements in payments and alternative finance. With the city's constantly growing tech sector, massive financial sector and thriving startup scene, it's really no surprise that Amsterdam's FinTech sector is such a force to be reckoned with. The area makes for an ideal FinTech test market too, mainly due to Amsterdam's tech-savvy residents, who are among the quickest early-adopters of technology.
“Amsterdam is the FinTech capital of the world.” – Rob van Elburg, ING
In the Amsterdam Metropolitan Area, there are 230,000 people working in the finance sector and 250,000 in the ICT sector. There are 15,000 people employed in Amsterdam's FinTech sector, so it's no surprise that Amsterdam ranks third in Europe when it comes to FinTech CV funding. The Dutch FinTech industry is particularly well-developed in payments, e-commerce and trading. In addition, the Netherlands boasts the fewest cash payments and a 63% mobile-banking penetration, which is the highest in Europe (source: ING International Survey Mobile Banking, July 2016). Amsterdam's international FinTech players include PayPal, Ebury and BitPay. There are also a number of notable homegrown Dutch FinTech companies, including Ayden, Flow Traders and Optiver.
“Amsterdam is a city that is always reshaping the status quo.” – Don Ginsel, Holland FinTech
Amsterdam's impressive talent and digital infrastructure
Amsterdam's excellent digital infrastructure is unrivalled, which is invaluable for any company in the FinTech sector. A reliable, stable infrastructure is a must-have for businesses who wish to compete in our global and mobile world. Luckily, Dutch banks have always been pioneers of FinTech – especially when it comes to online and mobile banking. For example, payment method iDeal was quickly introduced into the market, phasing out older payment methods – such as cheques – swiftly and efficiently. In addition, Amsterdam's liveability and employment benefits draw in a bilingual, multi-skilled FinTech talent pool that is perfect for any business in the sector.
“Our core development team is based in Amsterdam. That works very well for us because we have a loyal group of employees here. And there are other tech companies like Booking.com, TomTom and Elastic.” – Pieter van der Does, Adyen