FinTech Projected to Reach $1.5 Trillion by 2030 In 2024, FinTech companies accounted for $448 billion in revenue — 4% of the total generated by the banking sector. By 2030, this share is projected to surpass $1.5 trillion , or about 13% of the total market. The integration of financial services into non-financial interactions is just beginning. We are witnessing a rise in financial services embedded within B2B platforms and supplier networks, along with a growing adoption of value-added services like cash flow forecasting and spending management tools. Open banking, API’s which centralize consumer financial data from across traditional banking systems, have yet to revolutionize the banking landscape. While open banking offers potential benefits like improved underwriting and customer experience, its impact remains limited by low consumer adoption and a lack of groundbreaking use cases. Leaders in the vertical will need to focus on driving innovation in areas like account portability and leveraging transaction data for personalized services.
Global FinTech Revenues
(In Billions of USD)
1,500
3.3x
200
FinTech Penetration of Banking Revenues
13%
1,300
448
44
2030F
404
2024
2030F
Banking Insurance
Source: BCG - Global FinTech Report 2024 and World Economic Forum: Fueling Innovation: Closing Fintech Funding Gaps and FE internal analysis.
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