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HSBC’s CMO discusses where the next global fintech hubs will emerge from

Peter Stojanovic

When thinking about the next global fintech hub, many horizons seem favourable. Can Silicon Valley and London compete still with the hunger shown by India and Chinese regions?

The next fintech global hubs will have to be forces to be reckoned with.

Not only would it have to compete and out-muscle the likes of Silicon Valley and London, who are both seen as regional, if not global, leaders of the fintech race, but it would have to do so at a rate faster than even the emerging hubs are performing at.

That being said, Chris Clark, HSBC CMO, has some thoughts on which horizon to scan in the coming years.

“This is one of those industries where Asia will emerge – I cannot see the world just having Silicon Valley and London…”

Of course, those are the two leading spaces right now, but others include New York, Dublin and Sydney.

Their Asian counterparts however, Hong Kong and Singapore, are already considered fintech global hubs, but key to their promise is the talent pool in which they draw from.

“You’ll find that in fintech there will be certain things to watch out for, such as the domination of established countries and its dynamic with the hunger of China and India and its numbers of engineering graduates.”

These graduates come from a growing domestic and international university and graduate network recognizing the East as the best place to launch their career in finance.

These people grow and usually stay in the area, contributing to the fintech space even more – just as Jack Ma has done, someone Clarke is quick to mention too.

“…you look at Jack Ma and think you’ll be seeing more of him and others like him in the future, but in London we’ll have to find our corners and our niches that we’re good at sourcing and follow them actively.”

Of course, many fintech global hubs will take time to really dominate such a young industry; the dynamics of the hubs listed above will be an interesting story to watch as fintech matures.