It’s made up of banking, financing, investment, insurance, trading, and intermediation services, as well as financial utilities like stock exchanges, market regulators and interbank networks.
The traditional dominance of large conglomerates and corporations is being transformed by new Financial Technologies or “FinTech”. This transformation creates an opportunity for new players to access the financial services industry, competing or collaborating with existing institutions.
FinTech is an extremely data-hungry industry. It pioneers and pushes many technologies enabled by space like data analytics, telecommunications, artificial intelligence, blockchain, cybersecurity, or smart contracting. The industry’s size, widespread reach, and ample private investment make it highly appealing to new businesses and researchers creating space-enabled services.
The financial world also has an important role to play in a green sustainable future. A new sector where ESG (Environmental, Social and Governance) factors are taken into consideration in investment and decision-making processes is one step in this direction.
Implementing space technology can also boost corporate accountability. Satellite imagery can monitor companies’ emissions, deforestation, biodiversity loss, natural heritage protection, blue economy, climate applications, and physical event risks.
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