Savills: Warsaw among top best 10 cities for fintech

by   CIJ News iDesk II
2020-07-03   10:27
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Warsaw is among the top 10 best European cities for the fintech sector. According to analyses by Savills, which prepared the ranking, the Covid-19 pandemic is accelerating the digitalisation of the banking sector, and Poland provides a favorable environment for fintechs to expand. As Europe starts to come out of lockdown and occupier activity on the continent returns to the “new normal,” demand for office space from fintech companies is likely to prove resilient, according to Savills. This is predominantly due to the structural changes that have taken place under lockdown, with the temporary closure of most business premises, including retail banks, forcing businesses and consumers to rapidly adapt to new circumstances in order to survive. “The Covid-19 pandemic has shown the world how quickly change can happen, and it has turbo-charged the digitalisation of the traditional banking and finance sector in key European countries, said Matthew Fitzgerald, director of cross border tenant advisory at Savills. “The GFC fostered entrepreneurship which, coupled with the rise of controversy around the big banks, saw the entry of challenger banks and a whole array of startups. I am confident that this sector will again emerge stronger in the aftermath of the Covid crisis.”