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This chapter provides an overview to the Swedish FinTech landscape by discussing the digital disruption of the financial services industry that is occurring in three phases: innovation struggle; partnership and client focus; and repositioning. It presents case examples of Swedish FinTech startups in order to illustrate the journey toward digital disruption. The Swedish competitive power is strengthened both by innovation and a leading-edge robust financial sector. Adjusting the regulatory framework, attracting talent, and creating environments for test beds and collaboration between academia, risk capital, FinTech actors, regulators, and traditional banks are recommendations to the government. Within the traditional banks, there was a low sense of urgency to respond to the innovative challenges of the FinTech startups due to a number of organizational and cultural reasons. Since Stockholm has taken the position as a leading FinTech hub, politicians must improve the landscape for innovation and partnerships in the financial sector. |
