Fintech Statistics
As the number of people using smartphones increases, the demand for technological solutions for financial purposes and innovative banking solutions continues to grow.
Fintech is a relatively new sector in the financial services industry, but has seen tremendous growth over the past few years. Here's a look at how influential the fintech industry will be in the future.
The global adoption rate of fintech is 64%.
The most recent fintech industry report shows that 96% of the global consumer population has heard of at least one money transfer or payment fintech service, even if they haven’t started using it yet. (EY)
93% of fintech users agree that the technology saves them time.
Additionally, 82% of users say that fintech allows them to track their finances more efficiently, and 81% claim it gives them better control of their finances. Benefits like these could explain the rapid fintech growth and adoption rate among users.
Payment apps are the most popular fintech services used by 70% of users.
53% of fintech users pay their bills through the websites of their banks, 41% use fintech programs to file their taxes, and 31% use online-only banking services. Investment and budgeting tools are used by smaller portions of users, 29% and 17%, respectively. There is also room for growth for payroll advance services, used by 16%, and lending services, used by 14% of users.
Payment apps are the most popular fintech services used by 70% of users.
53% of fintech users pay their bills through the websites of their banks, 41% use fintech programs to file their taxes, and 31% use online-only banking services.
In late 2021, the Coinbase company reported a revenue of $5.9 billion and a net income of 3 billion for the past 12 months. Besides Coinbase, the top five companies by earned revenue for 2021 include Monex Group Inc., Bit Mining Ltd., Canaan Inc., and Voyager Digital Ltd.
The AI fintech market value stood at $10.1 billion at the end of 2021.
The market reached $11.76 billion in 2022. Due to the increased demand for the technology, predict the AI fintech market to reach $54 billion in 2032 with a CAGR of 16.5%
