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In 1979, Michael Aldrich from the United Kingdom was able to connect a modified domestic Television to a real-time multi-user transaction processing computer via a telephone line, by so doing online shopping was born. Such embryonic moves have crystalized today into a global system commonly called financial technology or simply Fintech.
Over the years, a few countries have emerged as clear leaders in the Fintech space, so in this two-part series, we’ll examine five such countries for those who want to seek greener pastures in the field of Fintech by migrating.
- United Kingdom
Michael Aldrich’s system was marketed in 1980 and offered as business-to-business systems sold in the UK, Ireland, and Spain. These together with Tim Berners Lee’s creation of the World Wide Web (WWW) in the early 1990s effectively put the United Kingdom at the forefront of digital technology as a payment system leading to a robust ecosystem of solutions coming from the United Kingdom. Today, the UK government policies actively supports the development and deployment of Fintech solutions. For example, the Tech nation Visa that supports the migration of global talents in information technology to the United Kingdom.
- USA
Despite the above-mentioned enormous strides made by the United Kingdom, the USA emerged as the number one contender for fintech king of the World by the year 2020, with its robust fintech ecosystem.
Fintech technologies from companies like Stripe, Coinbase, and Robinhood and digital wallets and mobile payments solution services like PayPal, Venmo, Square, Stripe, Google Wallet, and Apple Pay have firmly placed Uncle Sam (USA) as the go-to Nation for Fintech gold diggers. Silicon Valley is now globally renowned for its number of successful start-ups.
To be continued…
