What are the prerequisites for the Fintech industry to flourish in any given country? I would certainly name an adapted legislative framework, the so-called “regtech”, the economic environment and favorable investment climate, as well as mobile and online technologies penetration and the population’s age and digital literacy. It is the combination of those factors that determine leading Fintech supporting countries.

So, top digital countries in 2020 are:

10^th place – Estonia. Highlights: digital payments, personalized financial solutions, and alternative lending methods.

9^th place – Canada. Highlights: crypto and blockchain technologies, loans, and insurance.

8^th place – Australia. Highlights: digital payments, personalized financial solutions and alternative lending methods.

7^th place – Sweden. Highlights: neobanking and Fintech solutions for SMEs.

6^th place – Netherlands.  Highlights: digital payments, personalized financial solutions, and investments.

5^th place – Switzerland. Highlights: cryptocurrencies and blockchain, crowdfunding, and wealth management.

4^th place – Lithuania. Highlights: payments, loans and banking.

3^rd place – Singapore. Highlights: digital banking, Fintech solutions for SMEs, wealth management.

2^nd place – the United Kingdom. Highlights: Challenger banks, personal finances and capital, blockchain, and microlending.

1^st place – the USA. Highlights: payments, Fintech solutions for the B2B segment, security, and insurance.

In my opinion, the rating includes developed or fast-growing economies driven by the advancement of digital technologies and, consequently, encouragement of investments. In the long term, I believe that creating conditions to scale up the Fintech industry is key to countries’ welfare and their readiness to address new challenges of our time such as the COVID-19 pandemic in 2020.