Page 6 - 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 2. Fintech-Enabling Environment
Fintech lending in Europe is less developed... …and Bigtech lending lags far behind global frontrunners.
Fintech Lending and Income per Capita, 2019 Bigtech Lending and Income per Capita, 2019
(USD, log scale) (USD, log scale)
100,000 100,000
UK USA Singapore UK France USA
Japan China
China
Income per capita (USD) 1,000 Europe Income per capita (USD) 10,000 S. Africa Egypt Côte d'Ivoire Mexico India Thailand Ghana Russia
S. Korea
10,000
Malaysia
Philippines
Morocco
Indonesia
Vietnam
Brazil
Myanmar
Cambodia
1,000
Kenya
Nigeria
Uganda
Western Hemisphere
100
Asia and Pacific
Pakistan
Middle East and Central Asia Rwanda Zambia Argentina Tanzania
Africa
10 100
0 1 10 100 1,000 10,000 100,000 0 1 10 100 1,000 10,000 100,000 1,000,000
Fintech lending (USD million) Bigtech lending (USD million)
Sources: G. Cornelli, J. Frost, L. Gambacorta, R. Rau, R. Wardrop and T. Ziegler Sources: G. Cornelli, J. Frost, L. Gambacorta, R. Rau, R. Wardrop and T. Ziegler
(2020), "Fintech and big tech credit: a new database"; and IMF WEO database. (2020), "Fintech and big tech credit: a new database"; and IMF WEO database.
Despite that, Europe leads the rest of the world in internet
coverage… ….and is among the leaders in the global innovation index.

Internet Users Top 20 Global Leaders in Innovation, 2020
(Percent of population) (Score: 0 (lowest) - 100 (highest))
90 70
80 Europe 60
50
70
40
Western Hemisphere
60
30
50 20
40 10
Asia-Pacific 0
30
Middle East and Finland France Israel China Ireland Japan Austria
20 Switzerland Sweden Denmark Singapore Germany Canada Norway
Central Asia United States Netherlands South Korea Luxembourg
10 Africa United Kingdom Hong Kong, China
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Source: The Global Innovation Index 2020: Who Will Finance Innovation?, Cornell
Sources: World Bank WDI database; and IMF Staff calculations. University, INSEAD, and WIPO (2020).
Digital payments in Europe are much higher than other
while new Fintech investment is also catching up.
regions.

Made or Recieved Digital Payments in 2017 Total Investment Activity in Fintech
(Percent of population aged 15+) (USD billions, includes VC, PE and M&A transactions)
80
Europe 70 Western Hemisphere
60
Western Hemisphere
50
Europe
40
Asia-Pacific
30
Middle East and 20
Central Asia
Asia-Pacific
10
Africa 0
2013 2014 2015 2016 2017 2018 2019
0 20 40 60 80 100
Source: Pulse of Fintech H1'20, Global Analysis of Investment in Fintech, KPMG
Sources: Global Findex 2017, World Bank; and IMF Staff calculations.
International.

4. The extensive network of formal financial service providers in Europe helps
account for the lower penetration of certain fintech services. In parts of the world where a
large share of the population is excluded from the formal financial sector, fintech services
such as mobile money accounts have proliferated, possibly reflecting lower infrastructure and