IslamicFinance.de

According to the Global Islamic Fintech Report, P2P crowdfunding and challenger banking are the top expected growth sectors for Islamic fintech in 2020. The report is produced by London-based digital finance firm Elipses in collaboration with the UK Islamic Fintech Panel. The report finds that peer-to-peer and crowdfunding, the largest area to date, is set to remain so, with challenger banking seen as a significant growth area. The three other expected top growth sectors for next year are blockchain/crypto, robo-advisory/personal finance management, and lending. In terms of regions, 39% of respondents picked Southeast Asia as the one presenting the biggest growth opportunity for Islamic fintechs. The Middle East is the second biggest expected growth region, as chosen by 31% of respondents, followed by 16% who picked the UK.