The fintech world has continued to mould and shape in ways this year, with The Fintech Times’ ‘Fintech Power 50’ encapsulating which companies best demonstrate this transformation. 

Fintech Times CEO, Jason Williams, spoke on what qualities make up a Fintech Power 50 company, his views on the sector and the innovations he’s witnessed this year and what more can be done from the media to help further the industry’s growth. 

Payment Expert: Firstly Jason, with The Fintech Power 50 now in its sixth year, how would you best define the transformations that have occurred during this time period, from the impact of COVID to Open Banking adoption?

Jason Williams: It’s been an incredible six years of change. If you think about where fintech was back in 2018, and where we are now, it’s a different landscape altogether. 

COVID fast-tracked the adoption of digital payments and services by at least five years, in my opinion. Open Banking, which was a buzzword back then, is now a core component of many financial systems and services. The pandemic pushed businesses and consumers to embrace digital solutions quicker than anyone anticipated, and that’s had a lasting effect on fintech. 

The agility of the fintech sector to adapt and thrive in that environment was impressive. It wasn’t just about survival, it was about redefining what’s possible in financial services.

What financial innovation has really caught your eye this year more than most?

The development around embedded finance is something that’s really got my attention this year. It’s everywhere now, whether you notice it or not. 

The way non-financial companies are integrating financial services directly into their offerings is changing how we think about payments and banking. I’m seeing companies that you wouldn’t typically associate with finance, such as retailers, service providers suddenly offering banking-like services, which is huge. It’s a real shift in how the financial system is interacting with consumers and businesses.

What are some of the key qualities that a fintech company should possess to be able to reach the Fintech Power 50?

For me, it’s always about innovation and impact. Fintech companies that make it into The Fintech Power 50 are the ones pushing boundaries to either fix a problem or introduce something entirely new to the market that makes a positive impact on our lives. 

But it’s not just about the tech. Your product can be world-class, but if you don’t have a solid business model and a team that’s driven and adaptable, you won’t survive. 

What we look for are companies that not only have great products but also have a clear vision, strong leadership, and the ability to scale. Having a purpose-driven approach also stands out, as do those making a positive social or environmental impact.

Within fintech media and the reporting of the sector, what more can publishers do in order to inform those inside and outside of the industry?

We need to cut the jargon. Sometimes it feels like we’re talking in an echo chamber. For the most part, people inside the industry understand, but for those on the outside, it can feel like you need a dictionary to keep up. 

I think we can do better at breaking things down so they’re accessible to everyone; from everyday consumers to policy makers. At the same time, we can’t lose the technical depth for the industry pros. Striking that balance is key; educating, informing, and sparking conversations that lead to better understanding of fintech’s role in society.

How can fintech influencers and thought leaders influence the future direction and innovation of the industry?

Be authentic. In this sector, there’s no room for fluff or empty buzzwords. If you’re a genuine thought leader, you need to be on the ground, understanding the challenges, the technology, and the people behind it. 

The best influencers are those who don’t just talk about fintech but live and breathe it. Those individuals bridge the gap between industry insiders and the wider public, helping shape policy, drive innovation, and inspire the next generation of fintech founders.

Why are organisational events, Money 20/20 for example, key for fintech companies to build meaningful partnerships and a platform for future growth?

Events like Money 20/20 are great stepping stones for building lasting partnerships. They bring together all the key players under one roof; from startups to established financial institutions, investors, regulators, and everything in between. 

It’s the perfect environment to build connections that matter. Yes, you can have a Zoom call or message on LinkedIn, but sitting down with someone face-to-face is so much more impactful. It’s also where you can get direct feedback from peers and potential partners, learn from others, and position yourself within the ecosystem. 

For companies looking to grow, these events are a massive opportunity to showcase what they’re working on and to get on peoples radar.

Lastly Jason, and thank you for your time, moving into next year, do you have a particular company or payment innovation that you think is set to take over the industry for the future? 

The majority of Europe’s big fintech players, Klarna, Starling, Revolut and Monzo have grown up, but there’s still room for disruption, particularly in the B2B vertical. 

I’m really interested in the startups looking to modernise outdated financial infrastructure. Many banking systems in use today are decades old, with some dating back 30 to 50 years. Thankfully, a new wave of companies is now disrupting the industry with cloud-native core banking solutions.

In wealthtech, there’s around $83trn in wealth transfer expected over the next 20 years, which is fueling demand for AI-powered, personalised financial management tools. We’re also seeing significant momentum in the fund tokenization space, where innovative solutions are streamlining fund management, making processes faster and more cost-efficient. 

I expect to see many of these companies featured in this year’s Fintech Power 50, which is now open for nominations.