- 5 French banks are in the EU Top 10
- #2 insurance market in the EU
- #2 asset under management market in the EU with €4,000 bn in assets
- #1 employment pool in finance in the EU
- “Finance innovation” cluster 600+ members
- Paris Fintech Forum #1 financial event in Europe
A Global Financial Region
The Paris Region has attracted a unique combination of banks, insurers, asset managers communication agencies, and financial media over the years. This, in combination with law, audit, and tax firms; software vendors; VCs; and regulators (both French and European) has created a unique global financial region unlike any other in the EU: nowhere else is the financial value-chain so dense and diverse.
Digitalization and IT agility have become top priority for the Paris Region’s large financial players. Collaborating with FinTechs and developing new ways of consuming financial services is key, and is being supported by the emergence of programs dedicated to supporting FinTechs (Station F, Le Swave, 89C3, WAI, Platform 58, Les Dunes tech campus, etc.). Fintech VCs are also reaching new highs, thanks to the mix of tax incentives, strong financial support, and business friendly regulators who are receptive to new business models. The French government is also paying special attention to entrepreneurship and DeepTech sectors such as blockchain, AI, and more.
Some of the best researchers in AI, cyber-security, Big data, applied mathematics and more from the Saclay plateau are undoing the technological locks of finance, supported by students from top-tier financial engineering programs (Paris Dauphine, Polytechnique, HEC and ESSEC business schools, etc.) that are also based in the Paris Region.