Fintech Market & Financial Growth Statistics To Know For Sure

FintechMarket&Financial GrowthStatisticsToKnow ForSure

Atpresent,bothArticialIntelligence&Blockchaintechnologiesareatthe forefrontoftheFintechlandscapewithmuchsafer,faster,precise,efcient, &reliableservicesorproductstooffer Withmoresecure&simplied optionstoinitiateonlinetransactions,customersenjoytheleisureof switchingtonew-agesoftwaresolutionsforeverydaypurpose Thebuzz around openbanking,cryptocurrencies,Non-fungibletokens,&othernextgenerationinnovationsisonthetop ofheadlinesallaround theworld With theemergingntechstatistics,ahugespectrumofnancialservice companiesincludingbanks,insurancefacilitators,stockmarkettrading agencies &awidearrayofbusinessesisturningtowardsitsadoption

Needlesstosay,theFintechmarkethasalwaysbeenoneofthefastgrowingeconomieswithbusinessesmigratingfromthebusiness-tocustomermodeltotheB2Bapproach And thisresultsintheincreasing partnershipsofinvestorsormergerswithFintechstartupsand manybig nancialinstitutions

ThelatestFintechpredictionsindicatethattheindustryisyettoembrace moreground-breakingbreakthroughsaround markettrends&technologies

Inthisblogsection,wewillbesharingkeyinsightstoanalyzehowFintech appdevelopmentisleadingtotransformationin2023&beyond

KeyFintechStatistics

grewby105%inadecade(2013-22)

Morethan323Fintechcompaniesentered theglobalmarketplaceby theend ofOctober2022

Theper-sharevalueofFintechETFslashed from$52in2021to$21 in2022 And thetotalvalueofdigitalpaymentstransactionsis projected toreach$849trillionbytheend of2022

ThedivisionofFintechiscategorized intotwosegments,“Fins”whichare companieswithaB2Bmodel&“techs”whichareB2Ccompanies Loanleadingappsorplatformscategorized underFintechappdevelopmentat leadingproductdesign&developmentcompaniesgetthehighest funding

However,cybersecurity&fraud hasdecelerated thegrowthofFintech statisticsintheinitialstage Theintegrationofdecentralized systemshas streamlined nancialoperationsbutalsoimposed aseriesofsecurity vulnerabilitiesforbusinesses

Duetosecurityreasons,about77%ofbusinessesrefrainfrom implementingblockchain-powered solutionsasperrecentdatacaptured fromagroup ofbankingCIOs

CurrentFintechstatistics:Howmuch doestheindustryworth?

marketisexpected togrowataCAGRof268%from2021to2025 withanetrevenueofUSD31,50354Billion

GlobalBlockchainTechnologyMarkettoriseatStaggeringCAGRof 5890%during2016–2024,withanetrevenueofUS$20billionby 2024

Region-wisefintechmarketstatistics

Venturecapitalinvestmenthasbeenontherisedespiteadeep uctuation inthechoice&preferencesoftheinvestorscontributingtotheFintech growthstatistics Theynowtend tobemoreinterested instartupsor businesseswithmorescalable&demonstrablerevenuemodels,particularly forthebanking,lending,nance,payments,insurance,&tradingsegment

FintechslikeJPMorgan&ChaseCo Citigroup,and GoldmanSachsareafew prominentgroupsinvestinginmoreadvanced technologiesincludingAIor machinelearning,and roboticprocessautomation(RPA) Infact,arecent studyalsorevealsthatmachinelearningwillbeworthapprox$80millionin 2025

Morethan8,775Fintechsentered theAmericanmarketplacein2021,a reportbyStatista

Around 4,76FintechstartupswereactiveintheAsia-Pacicregionin 2020,accordingtoFintechControlTowersurveyfor2021,stating Europe,Africa,&MiddleEastwithacombined numberofover7,835 Fintechstartupsin2020

Examplesoftopfintechcompanies

PayPalisoneofthemostwell-knownntechcompanies,witha transactionvolumeof$3338billion

Venmoisanother,whichreached itsrst$1billiontransactionvolume inJanuary

StripeisthebiggestntechcompanyintheUnited Statesand oneof PayPal’sbiggestcompetitors,worth$225billion

AntFinancialisthebiggestntechcompanyglobally,withan estimated worthof$150billion

FintechConsumerAdoptionStatistics

AreportbyErnst&Young’sbiennialFintechconsumeradoptionreport indicatesthatit’smuchspeedierthanexpected TheimpactofCOVID-19 alsotriggered thepenetrationofFintechtrendswithover73%ofAmericans as “anewnormal”,contributingtothelatestFintechstatsfor2023, accordingtoPlaid

MorenotableFintechstatisticsfor2023

Morethan75%ofglobalcustomershaveavailed ofatleastone Fintechserviceforvirtualmobilepayments (Ernst&Young,2019)

Overall70%ofAmericansthinkthatmobilebankingwillbethefuture, asreported byMXTechnologies,2020

Around 90%ofglobalmobileuserswould havemadeonline paymentsatleastonce,accordingtoBluebird report

Over$1billioninmobilepaymenttransactionsaremadeeveryday as pertheMorderIntelligencereportfor2021

Onaverage,aconsumerusuallyconductsmobilepaymentsof$188 permonth (MordorIntelligence,2021)

Approx43%ofconsumersadmitthatthey’vebeenusingmobile bankingastheirprimarybankingoptionsincethepandemicdays (MX Technologies,2020)

GetmoreinterestingfactsondigitaltransformationforFintech&its growthstatsfor2023

MostPopularPaymentGateway Systems

SecurionPayisoneofthemostpreferred paymentgatewayswhichis highlysecure Itiscompatible,mobile-friendly&usefulforsimpleand easycard payments thatprovidesafriendlyand simplecard payment experience

AuthorizeNetisanew-agepaymentgatewaysystemthatenables transactionsanywhereoronanyplatform BlueSnapisyetanotherpaymentgatewaythatcomprisesallsortsof toolsforanytypeofeCommerce,B2B,&B2Cbusiness

WePayoffersall-inclusivepaymentserviceswithzerorisks&end-toend userexperiences

Wrapup

AccordingtotheWorld EconomicForum,theglobalGDPisprojected to growup by10%by2027 And thecurrentindustryisgearingup to embraceitsimpactwiththerapid adoptionofnext-gentechinnovationsas top Fintechtrendsandpredictionsin2023&beyond

ThewayAIisshapingbusinessintelligenceforbetterdecision-making& blockchainusecasesarebreakingnewrecordsoftop Fintechstatisticsin 2023,we’llsoonobserveamassivewaveofdigitaltransformationinthe comingtime

Beingaproductteamforproductteams,HieHQhasbeenco-building future-readysoftwaresolutions,tailored tomatchthelatesttech innovations&markettrends Ouruser-centricproductsarepowered by high-gradetechnologiesincludingblockchain,AIormachinelearning,SaaS orcloud computing,NFT,Decentralized Finance,cryptocurrency,RPA (RoboticProcessAutomation),IoT,Wearable,&more

Ourportfoliopresentsouresteemed clientelefromFintech&Finance, Fitness&mentalhealth,eCommerce,Socialmedia&community,and other industrialdomains Wetakeprideinourexpertiseinproductdesign& development,UI/UXdesign,producttransformation,business transformation,mobileapp development,and web /web app development asourkeyserviceofferings

FAQs

1.WhatarethekeyfactorsaddingtotopFintechstats in2023?

ThekeyfactorsareBlockchain,digitalcurrency,alternativelending,algo trading,roboadvisory,insur-tech,&digitalpayments

2.Whatarecoreareasthatwillshapethefutureof fintech?

Thecoreareasarearticialintelligence,cloud computingand bigdatathat shallshapethefutureofntechintheupcomingyears

RelatedTopics

#FINANCE

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