| | MAY 2022 8How can we portray innovation in France? How can the dynamism of FinTech/InsurTech pioneers be assessed? How do we identify and assess their expectations in terms of legislation, funding, and support for innovation?From the internet revolution to artificial intelligence, tremendous innovation has occurred in the last ten years. Today the FinTech/ InsurTech field is booming notably in the fields of finance, crowdfunding, payment, insurance and blockchain. Finance and insurance have recently faced huge legislative changes, beginning with credit and payment, as well as a technological explosion centered on AI and blockchain. The most rewarding concept in the coming years resides in technologies around the concept of augmented advice. This entails improving the added value of advisers for their clients with AI-based tools, automated language processing and robotic automation. In the field of payment, these new developments are being integrated and are revolutionizing the end-user experience. To grasp the scope of the digitalization and the on-going digital transformation of the financial world, let's have a closer at the French FinTech ecosystem, with more than 500 new start-ups created every year in payment, credit, insurance or services to SMEs, to mention the post popular areas of innovation.France is a rich ground for the development of technology and innovative finance projects: the country is known around the world for its excellent scientific field, and is at the cutting edge of artificial intelligence. French Millennials, are becoming increasingly interested in these new services, which provide them with a better, more intuitive, and streamlined customer experience.This favorable cultural dynamic is boosted by legislative initiatives aimed at promoting mobility and openness to newcomers. Bankers and insurers are becoming more eager to collaborate with start-ups in order to develop long-term competitive advantages and to accelerate their digital transformation. They are choosing open-innovation by establishing a variety of channels to better collaborate with new start-ups.In contrast to other countries, French FinTechs, like other start-ups, can benefit from a wide number of state and public HOW CAN THE DYNAMISM OF FinTech/InsurTech pioneers be assessed?By Bernard Louis Roques, General Partner and Co-Founder, Truffle CapitalOPINIONIN MY
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