After the lifting of the ban on Argentina of FIFA The biggest prize of the month, the World Cup fever, continues to rage in the fintech industry.Financial technology service provider RoboCash Group Explain how the Qatar World Cup would have gone if it had been based on fintech instead of football.
Robocash Group analyzed the level of fintech development in all countries participating in the FIFA 2022 World Cup. Countries were compared on his four main areas of fintech development.
- Fintech Audience Potential: Data on Average Ages by Country
- Digital Inclusion: Daily Internet Usage Time (Internet Users Age 16-64)
- Consumer fintech penetration: volume of digital payments (made or received in the past year)
- Fintech Offer Penetration: A Quantitative and Qualitative Assessment of the Fintech Industry Using Integrated MetricsGlobal Fintech Index Ecosystem Ranking 2021‘
All values are normalized and displayed out of 100. Finally, Robocache summed up the total scores for each area and combined them into a final total.
Which country has the most advanced fintech development?
One of the strongest defenders of the fintech sector was the United States. Taking all factors into account, the US emerged with her final score of 585.8.
If Belgium’s and Canada’s fintech performance were translating the real game, it would have been very close. Belgium’s fintech score of 459.7 and Canada’s 460.2, with a difference of 0.5 in the fake tournament proved key to Canada’s progress. Canada’s score also meant they beat the Swiss total.
A Robocash Group analysis of tournament participants assigned to both England and Wales assigned the same score as the British representative. With both countries participating in the real-world tournament group stage, we had to compare the two. Ultimately, RoboCash triumphed in the UK, thanks in part to London, the Fintech capital of the UK.
The UK also scored the second highest in Fintech development, with high totals across all categories. Overall, the UK is one of the countries with the highest percentiles for the amount of digital payments people make and receive.
Knockout tournament formats aside, the top five teams ranked by Robocache are:
- united states of america
- England and Wales (UK)
Australia’s standings and scores are thanks to three top-scoring areas. The analysis found that Australia had the highest adult income, which helped it score high. Also, digital payment penetration reached nearly 100% for her. Meanwhile, it turns out that her 90% of people in the region use online financial services.