FinTech is Projected to Grow Sixfold by 2030 In 2021, FinTech companies accounted for 4% of the total revenues generated by the banking sector at about $245 billion . By 2030, this share is projected to increase to 13%–with revenues expected to surpass $1.5 trillion . The COVID-19 pandemic radically accelerated the adoption of digital financial services. This paired with the advancements in technologies like blockchain, machine learning, and AI is setting the stage for massive growth. The growth of fintech hasn't been uniform across the globe. Over the past two decades, different regions have experienced varying levels of maturity due to several key factors such as funding availability, government regulations surrounding fintech activities and the pace of technological adoption. As a result, each region finds itself at a different stage in the fintech journey. Local players are constantly innovating to address their unique challenges or adapting successful models from other regions to fit their specific contexts.
Global FinTech Revenues
(In Billions of USD)
1,500
6x
200
FinTech Penetration of Banking Revenues
4%
2021
1,300
13%
245
20
225
2030F
2021
2030F
Banking Insurance
Source: BCG – Global FinTech 2023
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