+ FINTECH OVERVIEW
Over the past decade, algorithmic trading and predictive analytics have gone from a technique practiced in just a few niches, to a competitive weapon with a rapidly expanding range of uses. The increasing adoption of predictive analytics is fueled by converging trends; the big data phenomenon, ever-improving tools for data analytics, and a steady stream of demonstrated successes in new applications.
According to a study conducted by Deloitte Consulting in 2020, the Fintech industry, including algorithmic trading, will grow from $29 billion in 2017 to $63 billion by the year 2024 in the United States alone. This represents a compound annual growth rate (“CAGR”) of 11.7%. In addition, according to CBInsights, 2021 global venture capital investment in FinTech reached over $95 billion in over 3,500 deals. This represents a 96% increase in funding over 2020 levels. The FinTech industry shows no signs of slowing down, and we believe that Sókn is well-positioned to take advantage of the broad level of interest.
Sókn fills a void in the FinTech industry that no current acceptable solution exists – precise segment price movements and targets, not merely price trends.