Financial Services Sector
In Europe, there has been an increase in online consumer finance activity with new companies being established and increased M&A activity. An example is 4Finance, Europe’s largest online & mobile consumer lender, which now has 7.7 million customers and granted $1.2bn of loans last year.
One of Russia’s largest private banks, Alfa Bank, announced it conducted the first ever blockchain-based transaction in the Russian banking sector. It happened in December 2016, the counterparty to this contract being S7, one of Russia’s largest airlines.
Some of the world’s oldest asset and wealth managers are turning to robots and artificial intelligence to increase profits. Some have moved to using algorithmic trading platforms, whilst others are removing the need for some back office staff, thus reducing costs and increasing productivity.
More and more large banks have announced their focus on digitalization. This involves either developing their own solutions through newly created, dedicated divisions, or acquiring digital competitors.
Under the Financial Services Sector, we serve the below sub-sectors:
- Financial Services
- Real Estate