We are excited to celebrate our inclusion in CNBC’s list of the World’s Top 250 Fintech Companies 2024 for the first time, following our inclusion in the FXC Intelligence Top 100 Cross-Border Payment Companies 2024 list for the third consecutive year.
CNBC partnered with market research firm, Statista, to identify the top 250 fintech companies from around the world. Statista analyzed over 2,000 eligible organizations across eight different market segments, evaluating each one against a set of key performance indicators, including revenue, user numbers, and total funding raised.
“This is a huge milestone for Convera. We’re thrilled to be featured on the second edition of CNBC’s list of the World’s Top Fintech Companies in the payments category. This accolade highlights our growth and commitment to helping our customers move money with speed and simplicity,” said Patrick Gauthier, CEO, Convera. “We’re a global commercial fintech helping businesses of any size confidently engage in global commerce. We bring people, technology and commerce together with every payment, enabling companies to navigate the often-challenging world of foreign exchange, risk management, and compliance.”
A continued focus on payments
The payments category of CNBC’s list remains the largest individual segment for the second year in a row. It refers to companies that are in the business of facilitating smoother payments processes, both online and innovations like mobile wallets. It also includes payments services and so-called gateways that act as intermediaries in electronic transactions; solutions facilitating online purchases, point-of-sale transactions via mobile devices, and digital money transfers between individuals or companies are also part of this segment.
To determine the top 250 firms, Statista carried out in-depth research into relevant KPIs for more than 2,000 eligible companies between March and May 2024. In the consideration for the top list, overarching KPIs had a weight of 40%, while segment specific KPIs had a weight of 60% to derive a final score for their position on the list.
Commercial payment innovation in the digital age
The fintech sector is currently experiencing a transformative phase marked by rapid innovation and widespread adoption, leveraging technology to make financial services more accessible, efficient, and secure. This evolution is reshaping the financial landscape, driving significant improvements in how businesses and consumers interact with financial institutions.
Financial technology plays a crucial role in the realm of international trade and global commerce, where technologies such as embedded finance, blockchain, and real-time payments are streamlining cross-border transactions. Open banking also plays a significant role in the payments industry by enabling more secure and efficient transactions.
The rise of embedded finance is projected to reach a global market worth of $7.2 trillion in the next decade, which is twice the combined value of the world’s top 30 banks today. While Statista predicts that the number of B2B cross border transactions on Blockchain is expected to reach 745 million by 2025.
Download our Fintech2025+ report for a deep dive into the future of financial technology, and contact us to learn more about how we can help your business move money with ease.
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