In general, the Netherlands is seen by FinTechs as an attractive location for FinTechs, owing to its digital infrastructure, English language proficiency and culture. The biggest challenges for FinTechs are attracting qualified or suitable talent, the general economic climate and geopolitical developments. Dutch FinTechs cite access to existing or new markets, as well as access to new investments as major development opportunities. Moreover, FinTechs no longer see collaboration as one of their biggest challenges, but as an important opportunity for further growth and development. Access to an existing customer base, a stamp of quality and access to investment budgets are the main drivers for cooperation for FinTechs.
Attracting and retaining qualified talent remains a major barrier for FinTech growth, with providing appropriate remuneration being the most significant barrier to staff retention. 56% of FinTechs see remuneration policies as a barrier to attracting and retaining talent.
A remarkable difference between the 2019 edition is that FinTechs have less difficulty to comply with laws and regulations: 62% said they have no problem complying, up from 43% in 2019. However, compliance has a significant impact on the cost and effort required: administrative requirements to comply with laws and regulations is disproportionately high, according to 37% of respondents. Although the government's intention to encourage innovation is visible, FinTechs believe that the government could be more proactive in supporting them: 40% of FinTechs say they would like to see a more active role by the government in facilitating innovation in the sector.