FinTech Market Outlook and Forecasts 2021 – 2028
Financial Technology (FinTech) represents a marriage between technology and financial services. FinTech usually refers to a financial solution that is built upon technology featuring highly innovative and pioneering in nature. Interestingly, non-financial start-ups lead the FinTech ecosystem and have been disrupting the overall financial industry on an end-to-end basis with an emphasis on evolution of consumer financial habits. However, the ultimate beneficiaries of FinTech are financial institutions.
FinTech is changing the entire financial systems covering internal management, customer management, engagement platform, and operation management. It is making a profound impact on all sectors and sub-sectors of the finance industry including banking, money transfer, business and personal loans, personal investment, PoS payment, and many more.
The traditional financial system is giving way to new technologies, methods and procedures. It is gradually being taken over by FinTech systems including global finance, businesses, and individual financial management. Initially, more affluent customers were using the FinTech solutions, but lately it has expanded to the unbanked population through many means such as the money transfer system, which represents one of the most disrupting innovation areas of FinTech.
This report provides a comparative analysis between the legacy financial system and emerging FinTech solutions including disruption, potential benefits, and challenges. The report evaluates the evolving FinTech market ecosystem including start-ups, banks, investment companies, insurance companies, and non-financial organizations. The report analyzes the global impact of FinTech and the outlook for specific regions. The report provides forecasts for the period 2021 to 2028.
Select Report Findings:
• The global FinTech investment market will approach $295.1 billion by 2028 and the market will grow at 13.7% CAGR during 2021 to 2028
• The software segment the largest component with 45% of the total market
• The digital payments segment the largest solution area with 92% of the total market
• Americas is the largest region with a 73% of the total FinTech investment market
• USA, UK, China, Germany, and India are the major countries in global FinTech market
Companies in Report:
• Acorns
• Addepar
• Adyen
• Affirm
• Algomi
• Alibaba
• Allstate
• Ally
• Alphasense
• Amazon Payments
• American Express
• Amex, MasterCard and Visa
• Angellist
• Apple
• Atom Bank
• Australasian Wealth Investments
• Avant
• Azimo
• Barclays
• BBVA
• Betterment
• Billfloat
• Bitcoin
• Braintree
• C2FO
• Capital One 360
• Chain.com
• Charles Schwab
• China Rapid Finance
• Circleup
• Citi
• Coinbase
• Credit Karma
• CrowdCube
• Digit
• Dwolla
• Earnest
• Equityzen
• Estimize
• Facebook
• Fidelity
• Financial Innovation Now
• Fundbox
• Fundera
• Fundrise
• Goldman Sachs
• Google
• Hello Wallet
• HSBC
• IEX
• JPMorgan Chase
• Kabbage
• Kensho
• Kickstarter
• Klarna
• L2C Inc
• Learnvest
• Lending Club
• LendingRobot
• Level Money
• Lufax
• Metromile
• Money.net
• Motif
• Moven
• Nav
• Number26
• OnDeck
• Oscar
• PayNearMe
• PayPal
• Personal Capital
• Plaid
• Premise Data
• Prosper
• Quantopian
• R3CEV
• Reinventure
• Ripple
• Riskalyze
• Robinhood
• Samsung Pay
• Santander
• Securekey
• Simple
• SocietyOne
• SOFI
• Square
• Stellar
• Stripe
• Transferwise
• Trueaccord
• Trueex
• Tyro Payments
• UBS
• Vanguard
• Vouch
• WealthFront
• Wells Fargo
• Western Union
• WorldRemit
• XAPO
• Xignite
• Zenefits
• ZestFinance
- 1.0 Executive Summary
- 2.0 FinTech Market Overview
- 2.1 Financial Technology
- 2.2 The Impetus for FinTech
- 2.3 FinTech Landscape
- 2.4 FinTech Company Types
- 2.4.1 Money Transfer
- 2.4.2 Equity Funding
- 2.4.3 P2P Lending
- 2.4.4 Mobile Payments
- 2.4.5 Trading Platforms
- 2.4.6 Other Services
- 2.5 FinTech Categories
- 2.5.1 Digital Payments
- 2.5.2 Business Finance
- 2.5.3 Consumer Finance
- 3.0 FinTech and Big Data
- 3.1 Current State of Big Data in FinTech
- 3.2 FinTech Big Data Initiatives
- 3.2.1 FinTech CRM and Real-time Response
- 3.2.2 FinTech and Predictive Analysis of Customer Behavior
- 3.2.3 FinTech and Mass Customization
- 3.2.4 FinTech and Fraud Prevention
- 3.3 FinTech Big Data Market Opportunity: Streaming Data in Finance
- 4.0 FinTech Ecosystem
- 4.1 Hardware and Infrastructure
- 4.2 Financial Institutions
- 4.3 Government
- 4.4 Entrepreneurs
- 4.5 Application Providers
- 4.6 Consulting and Service Providers
- 4.7 Security Solutions Providers
- 4.8 Cloud and Big Data Analytics Providers
- 4.9 Investment Groups
- 4.10 Social Network
- 4.11 B2B2C Distribution Channel
- 4.12 Cash-in/out Mechanisms
- 4.13 Business Models
- 4.14 Collaborative Innovation
- 4.15 Crowdfunding Platforms
- 4.16 Competitive Landscape: Banks vs. OTT Players
- 5.0 FinTech Market Drivers
- 5.1 Digitization in Traditional Banking Sector
- 5.2 Algo Banking
- 5.3 Rise of Mobile Banking
- 5.4 Rise of the FinTech Start-Up Ecosystem
- 5.5 Rise of Data Driven Banking
- 5.6 Rise of the Crowd Funding Economy
- 5.7 Rise of Web-Based Financial Services
- 5.8 Growing Adoption of Non-Bank Option to Manage Money
- 5.9 Use of Machine Learning and Big Data to Control Payment Fraud
- 5.10 Increasing Patterns of M&A Transactions
- 5.11 Changing Patterns of Consumer Behavior
- 5.12 Blockchain Technology
- 5.13 Rise of E-commerce
- 5.14 Rise of mPoS Payments
- 6.0 FinTech Market Challenges
- 7.0 FinTech Market Outlook and Forecasts 2021 – 2028
- 7.1 FinTech Investment Outlook 2021 – 2028
- 7.1.1 Global Bank IT Investment
- 7.1.2 Global FinTech Investments
- 7.1.3 Global FinTech Investment in Software, Hardware, Security and Consulting
- 7.1.4 Global FinTech Investment: Retail vs. Business Finance
- 7.1.5 Global FinTech Market by Region
- 7.1.6 Global Banking Internal FinTech Investment
- 7.1.7 Global FinTech Deals 2020 - 2028
- 7.1.8 Global FinTech Funding by Investor Type
- 7.2 FinTech Users 2021 – 2028
- 7.2.1 Global FinTech Users
- 7.2.2 Global FinTech Users by Usage Category
- 7.2.3 Global FinTech Users by Income Bracket
- 7.2.4 Global FinTech Users by Age Group
- 7.2.5 FinTech Users by Geographic Region
- 7.2.6 FinTech Adoption of Digitally Active Users
- 7.2.7 Reason for FinTech Popularity
- 7.2.8 FinTech Usage Growth Obstacles
- 7.3 FinTech Market Dynamics
- 7.3.1 Impact of FinTech on Bank and Value Chain Partners
- 7.3.2 Bank Readiness to Address Digital Challenges
- 7.3.3 Bank Strength to Combat Digital Challenges including FinTech
- 7.3.4 Global Bank Revenue Risk from Digital Disruption including FinTech
- 7.3.5 FinTech Start-up Exits
- 8.0 Digital Industry and Payment Initiatives
- 8.1 Google
- 8.2 Facebook
- 8.3 Apple
- 8.4 PayPal
- 8.5 Square
- 8.6 Bitcoin
- 8.7 SocietyOne
- 8.8 Amazon Payments
- 8.9 Stripe
- 8.10 Samsung Pay
- 8.11 Alibaba
- 8.12 Western Union
- 8.13 Amex, MasterCard and Visa
- 8.14 Lending Club
- 8.15 Financial Innovation Now
- 8.16 Stellar
- 9.0 Bank Initiative Analysis
- 9.1 Goldman Sachs
- 9.2 Barclays
- 9.3 Santander
- 9.4 HSBC
- 9.5 UBS
- 9.6 BBVA
- 9.7 Citi
- 9.8 American Express
- 9.9 Wells Fargo
- 9.10 JPMorgan Chase
- 10.0 Regional Initiatives
- 10.1 Pioneer Zone
- 10.1.1 USA
- 10.1.1.1 Silicon Valley
- 10.1.1.2 New York
- 10.1.2 UK
- 10.1.2.1 London
- 10.2 Emerging Areas
- 10.2.1 Europe
- 10.2.1.1 Dublin
- 10.2.1.2 Berlin
- 10.2.2 Asia
- 10.2.2.1 Singapore
- 10.2.2.2 Hong Kong
- 10.2.3 Middle East
- 10.2.3.1 Tel Aviv
- 10.2.4 Australia
- 10.3 Government Initiatives
- 11.0 FinTech Case Studies
- 11.1 SocietyOne
- 11.2 Tyro Payments
- 11.3 Reinventure
- 11.4 Australasian Wealth Investments
- 11.5 Billfloat
- 11.6 L2C Inc
- 11.7 PayNearMe
- 11.8 Kabbage
- 11.9 Fraud Detection and Prevention
- 11.10 CashMetrics: Finance Management Service
- 11.11 Enhancing Customer Support
- 11.12 Data-Driven Client Acquisition
- 11.13 Fighting Against Money Laundering
- 12.0 FinTech Companies and Solutions
- 12.1 Developments with Select Players
- 12.2 Acorns
- 12.3 Addepar
- 12.4 Affirm
- 12.5 Algomi
- 12.6 Alphasense
- 12.7 Adyen
- 12.8 Avant
- 12.9 Betterment
- 12.10 Braintree
- 12.11 C2FO
- 12.12 Chain.com
- 12.13 Circleup
- 12.14 Credit Karma
- 12.15 Digit
- 12.16 Earnest
- 12.17 Equityzen
- 12.18 Estimize
- 12.19 Fundbox
- 12.20 Fundera
- 12.21 Fundrise
- 12.22 Hello Wallet
- 12.23 IEX
- 12.24 Kensho
- 12.25 Level Money
- 12.26 Learnvest
- 12.27 Money.net
- 12.28 Motif
- 12.29 Nav
- 12.30 Personal Capital
- 12.31 Plaid
- 12.32 Premise Data
- 12.33 Prosper
- 12.34 Quantopian
- 12.35 R3CEV
- 12.36 Ripple
- 12.37 Riskalyze
- 12.38 Robinhood
- 12.39 Simple
- 12.40 SOFI
- 12.41 Transferwise
- 12.42 Trueaccord
- 12.43 Trueex
- 12.44 Vouch
- 12.45 WealthFront
- 12.46 WorldRemit
- 12.47 XAPO
- 12.48 Xignite
- 12.49 Zenefits
- 12.50 ZestFinance
- 12.51 China Rapid Finance
- 12.52 Lufax
- 12.53 OnDeck
- 12.54 Dwolla
- 12.55 Moven
- 12.56 Ally
- 12.57 Capital One 360
- 12.58 Vanguard
- 12.59 Fidelity
- 12.60 Charles Schwab
- 12.61 Allstate
- 12.62 Oscar
- 12.63 Metromile
- 12.64 Azimo
- 12.65 Klarna
- 12.66 Number26
- 12.67 Atom Bank
- 12.68 LendingRobot
- 12.69 Coinbase
- 12.70 Angellist
- 12.71 Securekey
- 12.72 Kickstarter
- 12.73 CrowdCube
- 13.0 Conclusions and Recommendations
- 13.1 Recommendations to Develop Sound FinTech Ecosystem
- 13.1.1 Supportive Business Market
- 13.1.2 Strong Regulatory and Government Support
- 13.1.3 Adequate Access to Capital and Funding at Every Stage of Business
- 13.1.4 Focus on Creating Financial Expertise Locally
- 13.2 Recommendations for Banks and Other Financial Institutions
- 13.3 Recommendations for FinTech Companies
- 13.4 Recommendations for Government
- 13.5 Recommendations for Investment Community
- 14.0 Appendix: Historical FinTech Investment
- 14.1 Global FinTech Investment
- 14.2 Global FinTech Investment by Market Players
- 14.3 Global FinTech Investment by Category
- 14.4 Global FinTech Investment by Segment
- 14.5 Global FinTech Investment by Region
- 14.6 Global FinTech Investment by Leading Countries
- 14.7 Banking Internal FinTech Investment
- 14.8 FinTech Deals (Investments and M&A)
- Figures
- Figure 1: FinTech Ecosystem by Application
- Figure 2: FinTech Innovation
- Figure 3: FinTech Collaborative Innovation Approach
- Figure 4: Google Venture Investment Portfolio by Segment
- Figure 5: Silicon Valley FinTech Start-up Environment
- Figure 6: New York FinTech Start-up Environment
- Figure 7: London FinTech Start-up Environment
- Figure 8: Dublin FinTech Start-up Environment
- Figure 9: Berlin FinTech Start-up Environment
- Figure 10: Singapore FinTech Start-up Environment
- Figure 11: Hong Kong FinTech Start-up Environment
- Figure 12: Tel Aviv FinTech Start-up Environment
- Figure 13: Australia FinTech Start-up Ecosystem
- Figure 14: Government FinTech Support Structures
- Figure 15: Framework to Develop FinTech Ecosystem
- Figure 16: Digital Banking Ecosystem
- Tables
- Table 1: FinTech Landscape
- Table 2: Banking and Finance Streaming Data in FinTech
- Table 3: Global IT Investment by Bank 2021 – 2028
- Table 4: Global Bank IT Investment by Maintenance vs. Innovation 2021 – 2028
- Table 5: Global FinTech Investment by Banks and Others 2021 – 2028
- Table 6: Global FinTech by H/W, S/W, Security and Consulting 2021 – 2028
- Table 7: Global FinTech in Digital Payments, Retail & Bus Finance 2021 – 2028
- Table 8: Global FinTech by Sub-Category 2021 – 2028
- Table 9: Global FinTech by Region 2021 – 2028
- Table 10: Global FinTech Market by Top Five Countries 2021 – 2028
- Table 11: Banking Internal FinTech Investment 2020 - 2028
- Table 12: FinTech Deals 2020 - 2028
- Table 13: Total Investment by Angel, VC, Equity, and Others
- Table 14: Global FinTech Users 2021 – 2028
- Table 15: Global FinTech Users by Category 2021 – 2028
- Table 16: Global FinTech Users by Income Bracket 2021 – 2028
- Table 17: Global FinTech Users by Age Bracket 2021 – 2028
- Table 18: FinTech Users by Region 2021 – 2028
- Table 19: FinTech Adoption of Digitally Active Users by Top Five Countries
- Table 20: Seven Reasons Cited by FinTech Users
- Table 21 Six Obstacles to Growth of FinTech Use
- Table 22: Contribution of Banks and other Value Chain Partners
- Table 23: Bank Readiness to Address Digital Challenges including FinTech
- Table 24: Bank Capability to Address Digital Challenges including FinTech
- Table 25: Global Bank Revenue at Risk due to Digital Disruption
- Table 26: Number of FinTech Exits
- Table 27: Goldman Sachs FinTech Investment
- Table 28: Santander FinTech Investment Chart
- Table 29: HSBC Investment Chart
- Table 30: BBVA Investment
- Table 31: Citi Investment
- Table 32: American Express Investment
- Table 33: JPMorgan Chase Investment
- Table 34: Global FinTech Investment
- Table 35: Global FinTech Investment by Market Players
- Table 36: Global FinTech Investment by Category
- Table 37: Global FinTech Investment by Segment
- Table 38: Global FinTech Investment by Region
- Table 39: Global FinTech Investment by Leading Countries
- Table 40: Banking Internal FinTech Investment
- Table 41: FinTech Deals
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