Four globally focused digital technology companies involved in the asset finance space have found themselves in the top 100 rankings for fintech companies by US-based tech media company IDC.

FIS, a US-based technology provider for the UK and European auto and equipment finance sector, has claimed the #2 spot in the IDC’s 2023 ranking for fintech companies. FIS was knocked off the top perch by US payments company Fiserv, which held the #2 spot in the 2022 IDC Fintech Rankings. 

On its website, FIS says it employs more than 55,000 people across 50+ countries and “offers more than 450 solutions and processes over $75bn of transactions across its global business. 

Only the first 25 companies in the IDC top 100 appear with a distinct number ranking this year. 

Q2, a US-based digital platform provider for lenders and lessors, was included in the next cluster of companies (#26 to #50), along with Sopra Banking Software, a subsidiary of France-based Sopra Steria Group, and software provider for lenders and asset finance companies. 

Solifi, a software provider to the secured finance sector in the UK and the US, marked its second appearance on the list (in the #51 to #100 cluster). Solifi was formed in October 2021 when IDS acquired White Clarke Group and William Stucky & Associates. The move triggered a company name change and rebrand.

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Enterprise top 50

Asseco, a software developer for the leasing sector, principally in the Polish market, dropped off the fintech listing this year and has appeared instead in the Enterprise top 50 list for 2023.

The 2023 IDC FinTech Rankings list

The 20th annual vendor ranking recognises the world’s top 100 leading hardware, software, and service providers to the financial services industry. IDC says it collects data from vendor surveys, original research and in-house market analysis.  

The providers included in the Top 100 ranking supply the technological backbone of the financial services industry, an industry in which IDC forecasts worldwide spending on IT across the globe to be over $800 billion (USD) by 2026.

Marc DeCastro, research director at IDC, said: “At IDC we continue to recognise the importance the technology providers have on helping the global financial services industry meet their client’s needs.

“We have expanded the programme to recognise the top 150 solution providers to ensure that we get the most accurate representation possible and to provide financial service technology buyers a go-to list of the largest FinTech’s in the world.”