Page 11 - IMF-欧洲的金融科技：机遇与挑战（英文）-2020.11-35页.pdf

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Figure 3. Financial Ecosystem Enabling Fintech
Fintech lending volumes in Europe lag other regions… …due to large gaps among the biggest players.
Global Fintech Lending Market Volumes Global Fintech Lending Market Volumes
(Euro billions) (Euro billions)
4.0
320.9 Western Hemisphere,
350 Europe, 3.4
3.5
excluding the UK excluding the US 3.2
300 Asia-Pacific
3.0
221.7
250 2.5
2.1 Asia-Pacific,
200 excluding China
2.0 1.8
150 Western Hemisphere 1.5 1.4
94.6 1.0 1.0
100 Europe 1.0 0.6 0.6
50 10.4 30.0 31.8 39.5 20.3 0.5 0.3 0.2 0.3
1.1 2.8 5.4 7.7 3.2 9.7 4.1 0.1 0.0 0.1
0 0.0
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
Source: Cambridge Center for Alternative Finance. Source: Cambridge Center for Alternative Finance.
The volume of Fintech lending remains small… …. compared with bank credit.
Global Bank Credit and Fintech Lending Bank Credit to Private Sector, 2019
(Percent of GDP) (Percent of GDP)
132 0.6
Bank Credit to Private Sector 250
130
Fintech Lending (RHS) 0.5
128 200
126 0.4 150
124
0.3 100
122
120 0.2 50
118
0.1 0
116 North East Asia World Europe European Middle Latin South Africa
114 0 America and and Union East and America Asia
Pacific Central North and
2013 2014 2015 2016 2017 Asia Africa Caribbean
Sources: World Bank WDI database; and Cambridge Center for Alternative "Middle East and North Africa" and "Africa" data as of 2018.
Finance. Source: World Bank WDI database.
Cross-country heterogeneity is large in absolute size …and in terms of per capita volume.
Alternative Finance Volume by Country, 2017 Market Volume Per Capita by Country, 2017
(Euro Millions) (Euro)
1000 120
900 United Kingdom: 7.06 billion 100
800
700 80
600
500 60
400
300 40
200 20
100
0 0
UK UK Italy
France Germany Netherlands Italy Finland Sweden Georgia Spain Poland Ireland Latvia Belgium Estonia Switzerland Lithuania Denamark Austria Russia Czech Republic Slovenia Norway Bulgaria Romania Slovakia Portugal Estonia Latvia Georgia Finland Ireland Lithuania Sweden Netherlands France Switzerland Belgium Denmark Germany Slovenia Poland Austria Spain Czech Republic Norway Liechtenstein
Source: The 4 th European Alternative Finance Industry Report,Cambridge Center for Source: The 4 th European Alternative Finance Industry Report,Cambridge Center
Alternative Finance, 2019. for Alternative Finance, 2019.

10. Bigtechs are also expanding in Europe. Bigtechs, the leading IT companies in the
world, have many competitive advantages in fintech services, including deep financial
pockets, a vast customer base with valuable associated data, advanced technological
capability and recognized branding. Most of the world’s leading fintech companies are often
associated with bigtech groups (Table 1). Alibaba, Baidu and Tencent have become dominant
operators in China’s digital payments industry, while Amazon is providing payment services
and loans to merchants on its platform. Although none of these bigtechs originated in Europe,