back Back

Moorwand reports £1 mn in additional revenue generated by FinTechs

By Joy Dumasia

August 04, 2021


Moorwand, a payments solution provider, launched a report that reveals FinTechs who outsource to specialist partners generate nearly £1m in additional revenue.

The report ‘Specialists vs generalists: How do fintechs fuel growth?’ explores why FinTechs outsource to third parties, the importance of outsourcing for FinTech growth, and the impact of working with specialists or generalists on FinTech businesses.

Moorwand commissioned an independent study of 75 senior decision-makers at FinTech firms across France, Germany, Ireland, Lithuania and the United Kingdom. The study features leading technology providers and consulting firms, including FN1X, GPS, Pannovate, Polymath Consulting, Ozone API and W2.

FinTechs outsource to quickly and efficiently build out their capabilities and expand into new markets and customer sectors. User experience is one area that nearly half of FinTechs outsource, and 84% see as ‘business critical’. With almost a fifth, 18% of total FinTech budgets dedicated to outsourcing, selecting a partner is a significant business decision.

Established FinTechs outsource more than their younger counterparts; when it comes to loyalty and reward programmes, 35% of younger FinTechs outsource, versus nearly double 67% for established firms. FinTechs that use specialists reports additional revenues of almost £1m due to their choice of an outsourcing partner. And looking to the future, 75% of the FinTechs planning on changing how they outsource plan to use specialist providers.

Vicki Gladstone, CEO and COO at Moorwand, said: “For a long time, the FinTech sector was characterised by the idea of disruption and competition. As the industry matures, propelled by the arrival of Open Banking, BaaS and more recently, Embedded Finance, the focus has shifted to collaboration to drive growth. The research demonstrates that outsourcing is helping firms to improve the customer experience, expand into new markets and customer segments, and launch new products and services.”

Recently, IBS Intelligence reported that Alternative financial solutions provider VIALET has selected UK-based Moorwand as the issuer and BIN Sponsor for its new credit product.

Previous Article

August 04, 2021

Volante Technologies introduces Volante Experience, Payments As a Service Onboarding

Read More
Next Article

August 04, 2021

BharatPe raises US$ 370 million in Series E equity round

Read More

IBSi Daily News Analysis


February 27, 2024

Saudi Arabia’s FinTech market poised for exponential growth: vision 2030 sparks innovation surge

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Šiaulių Bankas taps Temenos to modernize core banking platform

Read More

February 26, 2024

Raqami Islamic Digital Bank taps Codebase Technologies’ Digibanc platform

Read More

February 23, 2024

Axway to buy most of Sopra Banking Software activities for €330m

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023