The Fintech ecosystem in Italy: an analysis based on the financial statements of a sample of firms

Serena Palazzo () and Gabriele Sene ()
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Serena Palazzo: Bank of Italy
Gabriele Sene: Bank of Italy

No 862, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: In recent years, the Fintech sector has recorded a significant expansion globally, benefiting from technological and regulatory innovations and from particularly favorable macroeconomic conditions. This paper describes the Fintech industry in Italy, both as a whole and by main sector of activity, through an analysis of the financial statements of Fintech operators not subject to banking supervision. The results outline an ecosystem composed largely of small firms – heterogeneous in terms of corporate form, activity and balance sheet structure – that are experiencing strong turnover growth (especially in the insurance, credit, deposit and payments sectors), with encouraging signs of improvement in terms of profitability. However, the sustainability of the business models applied, mainly focused on building a reference market and increasing the customer base, is often guaranteed by multiple rounds of external financing. Overall, these findings suggest that the Fintech sector in Italy is still in its development and consolidation phase but could become strategic for the financial industry in the future.

Keywords: Fintech; financial innovation; business models; balance-sheet analysis; performance; sustainability (search for similar items in EconPapers)
JEL-codes: G23 L25 M21 O30 (search for similar items in EconPapers)
Date: 2024-07
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_862_24

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