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Unlike other tech sectors, the need for compliant solutions in finance creates a strong value proposition for such effective, regulation-ready technology.
If you find a very good fintech business that’s meeting the regulatory requirements and accelerates processes and procedures, then it becomes very attractive. We’ve got a lot more emerging fintech as a result.
While financial services have long been shaped by regulation, the current surge in AI is significantly disrupting the sector, fuelling a wave of new fintech entrants, particularly in payments, wealth management or “wealthtech”, and digital currency tracking, further intensifying the sector’s attractiveness.
The market’s fragmentation, added to by a fresh proliferation of AI-driven start-ups, is helping to drive consolidation, attracting two primary buyer types – large incumbent financial institutions seeking technology to modernise legacy systems and private-equity firms aiming to invest in, and scale, promising smaller players.
Ireland already has a strong track record in fintech entrepreneurship, Byrne points out, with Stripe being a prime example. That is helping to draw international private equity and venture capital into the market.
For US investors in particular, Ireland serves as a strategic gateway to the EU.
Over the last year private equity is getting very excited about fintech as a place to deploy their capital. They can see smaller players they can scale internationally, and Ireland has always had a good depth of fintech entrepreneurs. They are also seeing that these fintech players understand the different regulatory environments and are able to adapt between a US and an EU model.