What is a Fintech company? The case of comparison websites and marketplaces for financial services

Which companies can be considered Fintech and which ones cannot ? Can we consider those websites that present different financial solutions to the end-user as financial technology innovators? Why would this be the case or why not ? Please continue reading to understand better our perspective regarding this matter.


Some of the different categories or business models in e-commerce are comparison websites and marketplaces. It is quite often the case that these companies do not have a list of their own products but of products from various other companies. Their value is to offer the end consumer the chance to compare the features and prices as well as read the opinions and reviews from other users about the advertised services.

These companies, however, do not

touch the products they sell. Or only few of them do.

With this in mind, can we consider them experts on their field ? Do they belong to the vertical of products they list but they do not touch? we can answer this with a cautious but firm “Yes”; we can consider them experts.

Would you consider the website “Tripadvisor” as part of the Online Tourism Industry? We would go beyond this statement and would say it is even a vital part of it. Many small businesses would stay undetected or would not appear on the radar of thousands of travellers worldwide if it was not because of these websites. At the same time, they can bring prices of hotel rooms down because they actively promote competition.

This should be the case for Marketplaces and Comparison websites in Fintech: encourage competition, bring prices down, motivate companies to provide better services, etc. At the end, the Fintech services should be better and the end-consumer should benefit.

Many companies pursuing this business model have flourished around the world. Here is a small list of some of them:

The company “Compare Asia Group” owns several comparison websites throughout Asia in the following countries: Indonesia, Singapore, Malaysia, Thailand, Taiwan, Hong Kong, Vietnam and Philipines. More about the Hong Kong based company can be found under:  http://www.compareasiagroup.com

In India the website BankBazaar provides very sophisticated comparison tools together with user support and explanation of services, as well as reviews from other users. Their services are concentrated to India at the moment. More about them at: http://www.bankbazaar.com/

In Germany the company Compeon offers an anonymous Marketplace for loans, credit and leasing services to other companies. The interested companies register and express their needs and receive targeted offers from diverse Banks and Finance companies. Further information at: https://www.compeon.de/

In Singapore Catapult Ventures owns diverse comparison websites for Finance services in the city: loans, insurance and credit are part of the services in their portfolio. More information under:  http://catapult.sg/ 

Still in Asia, in Indonesia, Cekaja offers comparison websites for Credit together with assistance and reviews from other users. Their website is https://www.cekaja.com/

In Malaysia the company Imoney provides comparison services for loans for homes and credit services. They also provide assistance for paperwork, as well as telephone assistance for questions. Information about the Kuala Lumpur based company under: https://www.imoney.my/

Feel free to reach out to Fintech Valley if you believe there are more companies that should be listed here or also if you do not agree with us considering finance marketplaces as Fintech Companies.


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