In a highly anticipated announcement, the International Data Corporation (IDC) unveiled the winners of the 2023 IDC FinTech Rankings, recognizing industry leaders in the ever-evolving world of financial technology.
Fiserv secured the top spot in the IDC FinTech Rankings FinTech Top 100, while Microsoft claimed the pole position in the Enterprise Top 50 category.
The annual IDC FinTech Rankings evaluate technology providers based on their calendar year revenues from financial institutions for hardware, software, and/or services. Data for the rankings is meticulously gathered from surveys completed by vendors and supported by original research and market analysis conducted by IDC Financial Insights. This comprehensive assessment results in two distinct sets of rankings: the IDC FinTech Rankings Top 100 and the Enterprise Top 50.
The FinTech Rankings Top 100 category comprises solution providers that derive over one-third of their revenue from the financial services and FinTech sectors, and they are allowed to operate in no more than two additional key non-FSI industry verticals. This category is a testament to the companies that have exhibited consistent innovation and prowess within the financial technology realm.
The 2023 IDC FinTech Rankings Top 10
- Broadridge Financial Solutions
- SS&C Technologies
- NCR Corporation
- Diebold Nixdorf
- Virtu Financial
On the other hand, the Enterprise Top 50 category highlights solution providers that support a broader spectrum of industries, a minimum of four key industries to be precise, yet possess substantial revenues originating from the financial services and FinTech sectors, thus earning them a spot in these prestigious rankings.
The 2023 IDC FinTech Rankings Enterprise Top 5
- Tata Consultancy Services
Furthermore, the IDC FinTech Rankings program acknowledges outstanding performance in two additional categories:
- Emerging FinTech: This category recognizes companies that were not ranked in the previous IDC FinTech Rankings program but have shown exceptional promise and potential within the FinTech landscape.
- Fast Track FinTech: Reserved for companies that were ranked in the previous IDC FinTech Rankings program and have notably ascended in the rankings year over year, highlighting their remarkable growth and continued success in the industry.
2023 Real Results Award Winners
IDC also revealed the winners of the 2023 Real Results Awards, recognizing IT providers that have enabled a genuine, measurable, and future-enabling change at a client financial institution (bank, capital markets firm, or insurer) in the worldwide financial services industry. Broadridge was named the 2023 Overall Winner.
Additional 2023 Real Results Award winners include:
Capital Markets Transformation: Broadridge
Deposit Transformation: Finxact, a Fiserv Company
Omni-Experience Customer Engagement: Q2
Lending Transformation: Broadridge
Insurance Transformation: Moody’s Analytics
Overall Winner: Broadridge
The 2023 IDC FinTech Rankings not only celebrate the achievements of these leading companies but also underscore the pivotal role that technology plays in shaping the financial services industry. Fiserv and Microsoft, in particular, have exemplified excellence, innovation, and adaptability in the face of evolving market demands.
With technology continuing to transform the financial landscape, these rankings serve as a barometer of success for the most influential players in the FinTech world. As the industry evolves, we can anticipate even more groundbreaking developments from these top-ranking companies, further enhancing the financial services experience for all.