Endava, the technology-driven business transformation group whose AI-native approach combines cutting edge technology with deep industry expertise, reveals that 85% of fintechs directors are planning to expand into new markets, 77% planning such expansion within 1-3 years, according to its latest report, “Powering Growth in the Global Payments Race” in partnership with Censuswide.
The survey was based on 500 senior leaders in fintech and payment service providers across EMEA, APAC, and the Americas. The data showed a strong appetite for cross-border growth, despite obstacles such as building local partnerships (38%), infrastructure limitations (37%), and regulatory complexity (33%).
“It’s promising to see growing recognition of how technology can help fintechs scale across markets and stay focused on what matters most — delivering secure, seamless experiences for their customers. While challenges around infrastructure and regulation remain, it’s clear that strong partnerships and the right use of AI will play a key role in helping businesses adapt and thrive in an evolving payments landscape”, stated Scott Harkey, Chief Strategy Officer at Endava.
To meet rising customer expectations, fintechs are significantly investing in next-gen payment technologies. Nearly 47% have implemented real-time payments, and 46% are focusing on contactless and NFC capabilities. Strategic partnerships remain central to success, with over 80% of businesses highlighting the importance of collaborating with external providers to accelerate market entry and integrate diverse payment infrastructures.
Romania – a rising fintech market aligned with global growth trends
Romania’s Fintech market is very dynamic with a strong interest in developing banking solutions adapted to the new technology era. The most recent Romanian National Bank report is showing 67 approved Fintech entities in 2024. Supported by a mature IT sector, a growing number of startups, and an increasing appetite among consumers for digital services, the field has the capability to develop.
According to Statista, the total FinTech revenue in the Romanian banking system peaked in 2023 at approximately 74 million U.S. dollars, of which 10.9 million were from digital investments. It is expected that the total revenue will increase to nearly 179 million by 2028.
“Romania has emerged as one of Europe’s most dynamic tech hubs. With deep, on-the-ground experience, Endava has a strong understanding of the local business landscape and its ongoing evolution. Our teams are leading the way in areas like AI and data engineering, leveraging global partnerships to deliver high-quality engineering services and drive digital transformation. This talent is playing a pivotal role in positioning Romania’s fintech sector as a leader in next-generation payment infrastructure. As highlighted in our latest report, strong partnerships and strategic technology investments are no longer optional, they’re critical for entering and expanding in new markets. By combining local expertise with global insight, we help Romanian businesses scale effectively and achieve their ambitions”, stated Francesco Giovane, Country Manager, Endava Romania.
The Endava Romania teams are uniquely positioned to extend the company’s fintech and insurtech footprint through the development centers in Bucharest, Cluj, Iași, Timișoara, Brașov, Pitesti, Suceava, Targu Mures empowering cross-functional teams to grow and learn at an accelerated pace through direct collaboration with top-notch international clients, and bringing that experience on the local market.
Endava continues to partner with clients across the globe to design and deliver modern, scalable, and secure payment systems tailored to local and regional needs, supporting their digital transformation journeys by integrating cutting-dge AI solutions that drive efficiency and innovation.
