Overview of 350 Fintech Vendors Shaping the Commercial Banking and Payments Landscape


Datos Insights Commercial Banking and Payments team is excited to announce the release of The Commercial Banking Fintech Review: 350 Fintechs Shaping the Market. The report includes market commentary, an assessment of the dynamics advancing innovation within various product areas, and brief descriptions of 350 vendors that have drawn our team’sattention.

Given the crucial role of fintech vendors in the ever-evolving commercial banking sector, it was an opportune moment to synthesize and build on our existing fintech coverage to offer a refined focus on some of the companies and dynamics shaping the broader commercial banking and payments landscape. The report builds upon our popular quarterly Fintech Spotlight report series, in addition to reports assessing various components of the fintech market and our frequent conversations with banks and vendors. 

What’s in the Report

No report can claim to cover the entire fintech market: Estimates suggest it includes over 26,000 companies distributed globally. This report offers a large but by no means comprehensive list of fintech vendors helping to shape the modern commercial banking sector. 

Shaping can mean many things. In this case, we mean companies pushing the envelope with innovative products, vendors impacting emerging or underserved markets, solutions emblematic or representative of broader trends, and services or solutions that integrate the cutting edge of technological advancement. 

We aren’t endorsing any of the companies included in the report, but we do think the companies are exciting and worth checking out. The majority of them report less than US$25 million in annual revenue and are typical of what is commonly thought of as a fintech. A select minority of the companies are larger to help illustrate phases of growth and maturation of fintech vendor solutions. The product offerings of the featured companies fall within numerous product categories, including payments, cash management, lending, core and digital banking, and data management and analytics.

In sum, our team hears about and looks at hundreds upon hundreds of vendors every year, which we distilled down to 350. For each company, we provide the following information:

  • Company website
  • Product category
  • Go-to-market strategy
  • Headquarter location 
  • Product description
  • A brief explanation of why we included the company 

Beyond the indexed and categorized list of 350 vendors, the report also provides market commentary on a few of the following topics:

  • Drivers of adoption 
  • Funding patterns 
  • Implications of the Regional Banking Crisis 
  •  Scandals 
  • Fintech marketplaces 
  • Pain points within specific product areas 

Why it Matters

The fintech marketplace in commercial banking continues to evolve rapidly. FIs and large legacy financial services vendors now more than ever need to understand opportunities available to them through partnering fintech vendors and recognize potential challenges that disintermediating fintech-based products and services pose. FIs seeking to understand the dynamics behind disintermediation will find the report and follow-up conversations with the teams’ analysts especially valuable. 

Recognizing new technological innovation, revenue opportunities, and shifts in how financial services meet or exceed customer needs can also guide FIs and larger vendors on new product development. In many regards, the fintech vendor marketplace within certain product areas shows us what sorts of solutions are growing in popularity, how expectations are changing, and where innovation is headed.

The current market is increasingly challenging for smaller fintech vendors to navigate due to higher interest rates, increased investor skepticism toward the technology sector, and growing competition. A foundational challenge many newer fintech vendors are experiencing right now is that FIs, larger vendors, and even businesses are deploying more stringent due diligence toward third-party vendors. 

A greater emphasis on due diligence translates to more failed onboarding and longer durations to reach revenue. Moreover,more startups are experiencing shorter cash runways and less interest from investors. This dynamic is at the core of why many fintech vendors are going out of business or merging with larger firms to stay afloat. This report provides critical insight into competitive intelligence, possibilities for differentiation, and an overview of what sorts of products and services are succeeding in a turbulent environment.

How Datos Insights’ Clients Can Leverage the Report 

The report provides readers with market commentary on some of the critical factors impacting the contemporary fintech marketplace, such as interest rates, funding, and drivers of innovation within cash management, core and digital banking, data management and analytics, lending, and payments. The index of 350 fintech vendors offers insight into companies that are shaping the broader market through product developmentand intervention within emerging and underserved markets.

Clients of Datos Insights can benefit from this report’s content in several of the following ways:

  • Refine existing fintech research and partnership strategies 
  • Recognize existing market indicators within various lines of business 
  • Understand companies that are reimagining financial service products or developing cutting-edge solutions through new technologies 
  • Learn about revenue opportunities, client needs, and new areas of product innovation 
  • Access a range of companies ideal for potential partnerships 

Not everything can fit into a report. Hundreds of companies we looked at were not included. Only a fraction of the team’s collective knowledge on product areas, drivers of innovation, and data on end-user preferences could make it into this report. 

There is no “one size fits all” approach when it comes to refining a strategy for product development, fintech partnerships, or how to compete with rising expectations for best-in-class services. As a result, some of the best insights garnered from this report are likely to come from follow-up conversations with members of the Commercial Banking and Payments practice. 

For clients or prospective clients seeking to learn more about the report or schedule a follow-up advisory call for a deep dive on any subject related to the report’s findings, please reach out to me at [email protected].