{"id":14350,"date":"2021-11-01T23:45:59","date_gmt":"2021-11-02T05:15:59","guid":{"rendered":"https:\/\/www.emizentech.com\/blog\/?p=14350"},"modified":"2022-11-04T07:06:30","modified_gmt":"2022-11-04T07:06:30","slug":"fintech-app-statistics","status":"publish","type":"post","link":"https:\/\/multisitelocal.ezxdemo.com\/blog\/fintech-app-statistics.html","title":{"rendered":"Fintech App Statistics &amp; Growth of Finance Industry Online"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">Financial Technology or Fintech companies and startups are ruling the roost in the new tech-enabled market. The pandemic forced people to stay indoors and order everything from staples to health kits from home. This led to an increasing dependence, acceptance, and demand for fintech apps among people.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">The anecdotal wisdom is supported by the amazing and remarkable Fintech statistics that point in the same direction. In every region \u2013 the US, the UK, Europe, Asia-Pacific, Africa, the Middle East, and the Latin Americas \u2013 Fintech firms are the fastest-growing companies.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Technology, innovation, and ease of use with security have made these firms the new blue-eyed boys in the financial world.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Their growth is now pushing the established banking and financial services firms to invest in the technology.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">If they do not catch up fast, they run the risk of becoming irrelevant very soon.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Let us demonstrate to you the burgeoning growth story of the Fintech industry with data, <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/most-popular-apps.html\" target=\"_blank\" rel=\"noreferrer noopener\">popular app statistics<\/a>, and hard facts.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Definitive_Trends_Key_Fintech_Stats_For_2021_%E2%80%93_Editors_Choice\"><\/span><strong>The Definitive Trends: Key Fintech Stats For 2021 \u2013 Editor\u2019s Choice<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image wp-image-14376 size-full\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"\/blog\/wp-content\/uploads\/sites\/2\/2021\/10\/Fintech-Statistics-20212022.jpg\" alt=\"Fintech Statistics 2021-2022\" class=\"wp-image-14376\" \/><figcaption><span style=\"color: #999999\">Source: CBInsights &amp; Statista<\/span><\/figcaption><\/figure><\/div>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">More than <strong>75%<\/strong> of the conventional banking sector is fearful of new fintech platforms.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">In 2020 alone, at least one fintech app was used by <strong>64%<\/strong> US adult population.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">VC Funding for Fintech startups was the highest among all categories at <strong>$128 billion<\/strong>.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">World over <strong>77%<\/strong> of people now uses their mobile phones to make payments.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Among Gen X, more than <strong>90%<\/strong> are enthusiastic about mobile banking and fintech apps.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The banking industry could save <strong>$27 billion<\/strong> annually by 2030 by adopting Blockchain to plug the leakages.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">More than 2\/3 of financial services companies are using AI and Machine Learning to improve their services.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">In 2021, there are around 10,600 registered fintech startups in the US alone.<\/span><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"General_Fintech_Facts_And_Stats\"><\/span><strong>General Fintech Facts And Stats<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">Before moving on to technology, region, and domain-specific fintech stats, let us understand how fintech is shaping the financial behavior of the masses.<\/span><\/li><li><span style=\"font-weight: 400\">The fintech revolution was something waiting to happen.<\/span><\/li><li><span style=\"font-weight: 400\">A confluence of many factors \u2013 technology, mobile connectivity, enabling regulations, blockchain, and AI tools \u2013 made it possible for innovators to bring the solutions to life.<\/span><\/li><li><span style=\"font-weight: 400\">Today all global finance leaders regard fintech as the greatest great disruptor \u2013 since the abolition of the Gold standard. With each passing month, the statistics prove them right.<\/span><\/li><li><span style=\"font-weight: 400\">The world has seen more financial inclusion and innovation in the last decade than it saw in the entire history of human civilization. Most of the progress in this direction is thanks to the fintech revolution.<\/span><\/li><li><span style=\"font-weight: 400\">The fintech innovation is spanning multiple business models \u2013 B2B, B2C, B2G, G2C, and G2B. It is making the financial services firms and banks a predominantly technology setup.<\/span><\/li><li><span style=\"font-weight: 400\">And tech companies are now leveraging their dominant position and consumer trust to offer financial services.<\/span><\/li><li><span style=\"font-weight: 400\">The initial resistance, that was prevalent among masses and governments till 2018, has now given way to acceptance and rejoicing.<\/span><\/li><li><span style=\"font-weight: 400\">The security concerns are still the main withholding factor \u2013 but regulations and security setup are gearing up for that too. Increased research in cyber security, encryption, use of <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blockchain-development.html\">blockchain development technology<\/a>, and fraud detection using AI\/ML add new arrows in the quiver of the banks and tech companies.<\/span><\/li><li><span style=\"font-weight: 400\">Now, enough of our story, let\u2019s turn the focus back to stats.<\/span><\/li><\/ul>\n\n\n\n<p><b>1<\/b><span style=\"font-weight: 400\">. <\/span><b>3\/4ths Of Conventional Banks Find Fintech Platforms Aggressive<\/b><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The fintech industry and startups have brought joys, savings, convenience, and mobility to the general public. But this has become a cause for heartburn among the conventional banking industry as they are forced to change the status quo.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Most conventional banks are not up to the speed to offer the same level of services to the people. They find it unbelieving that why are people using the services of fintech firms at all.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Even if some banks have started to realize the potential of investing in offering equivalent services, it has become increasingly difficult for them to keep up. An innovation every few weeks is not something their systems are geared to cope with.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">This anxiety is reflected in the surveys done among top bankers in every region of the world: close to <strong>76%<\/strong> of bank executives are anxious that growth in fintech will eat into their market dominance.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Close to <strong>50%<\/strong> also showed \u201chigh levels of fear\u201d from the fintech revolution led by Stripe, GPay, Apple Pay, and PayPal.<\/span><\/li><\/ul>\n\n\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Half_Of_Fintechs_Could_Not_Strike_The_Right_Collaboration_With_Traditional_Banks\"><\/span><b>2.<\/b> <b>Half Of Fintechs Could Not Strike The Right Collaboration With Traditional Banks<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>When you can\u2019t beat them, join them.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">One way out of the fintech quagmire for traditional banks is to collaborate with successful and proven fintech companies.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">More than <strong>70%<\/strong> of fintech executives are interested in partnering with a conventional large bank or financial services firm.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">However, close to <strong>50%<\/strong> of Fintech executives, who wished to collaborate with banks, said they were unable to find the right partner!<\/span><\/li><\/ul>\n\n\n\n<p><strong>Some of the major reasons they cited in this regard are:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Lack of agility in decision-making in the banking system.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Most banks wanted to acquire them, rather than become partners.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Lack of enabling regulations in the domain where fintech firms are working.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Bankers still find fintech as a fad and a risky proposition.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Fintech_Adoption_In_The_US_Is_At_A_Staggering_64\"><\/span><b>3. Fintech Adoption In The US Is At A Staggering 64%<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Daily more US nationals are taking to fintech companies when they wish to find a novel solution to their financial problems.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Many US citizens now use more than one fintech service to access their banks, investments, and make routine transactions. The adoption rate in the US at the end of 2020 was a staggering <strong>64%<\/strong>, according to market research.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Global_Fintech_Industry_Recorded_228_Billion_Investments_In_614_Deals_In_Q1_Of_2021\"><\/span><b>4. Global Fintech Industry Recorded $22.8 Billion Investments In 614 Deals In Q1 Of 2021<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The venture capital (VC) funding for fintech has gone through the roof in the last decade.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Global giants and incumbents like Goldman Sachs, JP Morgan Chase, Barclays, and Banco Bilbao Vizcaya Argentaria are among the leading banks that have launched their fintech products &amp; solutions.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Investment banks like Softbank, KKR, and Sequoia Capital are injecting billions of dollars in B2C and B2B fintech companies. They are betting big on the millennials and the future.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The combined investment in 2020 was upwards of <strong>$43 billion<\/strong>. While in 2021 more than half of it was invested in Q1 alone at <strong>$22.8 billion<\/strong>.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_10_Billion_Funding_For_Top_7_Quickest-Growing_Fintech_Startups\"><\/span><b>5. $10 Billion Funding For Top 7 Quickest-Growing Fintech Startups<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The growth in Fintech funding has kept pace with the growth in their services and technology. Of the top 500 startups by fastest growth, the top 7 alone cornered funding worth <strong>$10 billion<\/strong>.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Among the most promising startups to receive funding were \u2013 LendingPoint received <strong>$1.7 billion<\/strong> funding, LANDBAY which received<strong> $1.6 billion<\/strong>, and Chime received <strong>$1.5 billion<\/strong>.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_By_2023_The_Global_Fintech_Market_Is_Poised_To_Cross_300_Billion\"><\/span><b>6. By 2023, The Global Fintech Market Is Poised To Cross $300 Billion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The exponential growth was seen in fintech companies around the world \u2013 from New York, the USA to&nbsp; Accra, Ghana \u2013 has led to projections for an ever-expanding pie. Fintech firms are not only eating away at the market share of established banks, but they are creating new markets where there existed none.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">It is projected that by 2023, the fintech market size globally would easily cross the <strong>$300 billion<\/strong> mark and touch <strong>$305.7 billion<\/strong>. The projected CAGR in the decade from 2013 to 2023 is an astounding <strong>22.17%<\/strong>.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Most_Investors_Are_Wary_Of_The_Digital_Transformation_Plans_Of_Banks\"><\/span><b>7. Most Investors Are Wary Of The Digital Transformation Plans Of Banks<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">Though banks are trying hard to bring about digital transformation by spending money on digital initiatives \u2013 like <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/artificial-intelligence-impact-ecommerce-industry.html\" target=\"_blank\" rel=\"noreferrer noopener\">AI<\/a>, ML, Blockchain, <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/top-e-wallet-app-development-companies.html\" target=\"_blank\" rel=\"noreferrer noopener\">E-Wallets<\/a>, Mobile payments, and many more \u2013 their investors aren&#8217;t optimistic about them.<\/span><\/li><li><span style=\"font-weight: 400\">In a recent survey among institutional investors, who have high stakes in the financial services industry, only <strong>25%<\/strong> were optimistic that such action plans would bear positive outcomes. Close to <strong>7%<\/strong> of them thought such initiatives were needed, but only half of them showed confidence in the current management to face the challenge.<\/span><\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"\/blog\/wp-content\/uploads\/sites\/2\/2021\/10\/Growth-of-Finance-Industry-Online.jpg\" alt=\"Growth of Finance Industry Online\" class=\"wp-image-14876\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Deeper_Industry_Analysis_Of_Fintech_App\"><\/span><span style=\"font-weight: 400\"><strong>Deeper Industry Analysis<\/strong><\/span> Of Fintech App<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_More_Than_A_Fourth_Of_Banking_Services_Are_At_Risk_Of_Disruption\"><\/span><b>1. More Than A Fourth Of Banking Services Are At Risk Of Disruption<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">According to the research and market trends, up to <strong>28%<\/strong> of services for banking and payment in the B2C space will be disrupted. This disruption will be the result of both adoption of new technology and the introduction of new <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/ecommerce-revenue-models.html\" target=\"_blank\" rel=\"noreferrer noopener\">business models<\/a> by the fintech industry.<\/span><\/li><li><span style=\"font-weight: 400\">If you consider the sectoral impact, then companies in the insurance and asset &amp; wealth management will see a high rate of disruption of <strong>22%<\/strong>.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Robotic_Process_Automation_To_Boost_ROI_Of_banks_By_100\"><\/span><b>2. Robotic Process Automation To Boost ROI Of banks By 100%<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Financial companies and banks that deploy RPA or Robotic Process Automation for many tasks in banking \u2013 like statement dispatch, check processing, transaction alerts, etc. \u2013 see that they can recover the costs incurred in less than 6 months.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The ROI due to RPA is so phenomenal, that some bankers have reported a <strong>100%<\/strong> return on investment within three months.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Blockchain_Is_Sweeping_The_Fintech_World\"><\/span><b>3. Blockchain Is Sweeping The Fintech World<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">In repeated surveys, being conducted since 2015, an increasing number of participants are recognizing the importance of <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/how-blockchain-enhances-app-development-process.html\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain technology in the financial services<\/a> sector. In fact, in a recent survey, close to <strong>56%<\/strong> of participants were &#8220;well aware&#8221; of the importance of blockchain technology.<\/span><\/li><li><span style=\"font-weight: 400\">The problem lies in the understanding and adoption of blockchain technology by conventional bankers. More participants, close to <strong>57%<\/strong> of all participants, were unsure about how to adopt <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/best-blockchain-platforms-for-app-development.html\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain technologies<\/a> in their existing business models and operational models.<\/span><\/li><\/ul>\n\n\n\n<h4 class=\"has-text-align-center has-luminous-vivid-orange-color has-text-color wp-block-heading\">Also Read: <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/app-development-cost.html\" target=\"_blank\" rel=\"noreferrer noopener\">How Much Does It Cost To Make An App<\/a>?<br><\/h4>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_The_Mobile_Payments_Market_Size_To_Cross_66_Trillion_By_2022\"><\/span><b>11. The Mobile Payments Market Size To Cross $6.6 Trillion By 2022<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">With the near-universal availability of mobile devices, networks, and the Internet people are taking to <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/e-wallet-mobile-app-development.html\" target=\"_blank\" rel=\"noreferrer noopener\">e-wallet mobile payments<\/a> in a big way. Among the most common mobile payments methods are micropayments using QR codes, <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/peer-to-peer-lending-app-development.html\" target=\"_blank\" rel=\"noreferrer noopener\">P2P payments<\/a>, NFC payments, direct bank debits, and mobile wallets.<\/span><\/li><li><span style=\"font-weight: 400\">Mobile wallets and monetary services have brought the unbanked masses into the ambit of formal banking and formal transaction umbrella. Citizens in underdeveloped and developing markets are fueling the growth in the number of mobile transactions exponentially.<\/span><\/li><li><span style=\"font-weight: 400\">Even in a developed and largely banked economy like the US, the share of nationals taking to <a href=\"https:\/\/multisitelocal.ezxdemo.com\/banking-finance.html\" target=\"_blank\" rel=\"noreferrer noopener\">digital banking<\/a> between 2018 and 2022 would increase from <strong>61%<\/strong> to <strong>65.3%<\/strong>.<\/span><\/li><li><span style=\"font-weight: 400\">The overall mobile payment segment of the fintech industry would take the lion&#8217;s share with an estimated market share of over <strong>$6,685,102 million<\/strong> <strong>($6.68 trillion)<\/strong> at the end of 2021.<\/span><\/li><li><span style=\"font-weight: 400\">Within the mobile payments space, the QR code transactions alone would garner <strong>$2,216,200 million<\/strong> or more than <strong>$2.2 trillion<\/strong>. The largest contributor to this would be China at <strong>$2.09 trillion<\/strong> worth of transactions.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"12_Fintech_Insurance_Market_To_Cross_15_Billion_By_2023\"><\/span><b>12. Fintech Insurance Market To Cross $15 Billion By 2023<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><span style=\"font-weight: 400\">With insurance comes the financial security if one were to fall sick or pass away. Among the most important aspect of the fintech revolution, besides micropayments, is the adoption of<a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/insurance-mobile-app-development.html\" target=\"_blank\" rel=\"noreferrer noopener\"> fintech insurance<\/a> for life, health, and other purposes.<\/span><\/li><li><span style=\"font-weight: 400\">People who could not produce their income proofs for being part of the informal economy can now simply share their transaction history to show a steady cash flow and avail of insurance.<\/span><\/li><li><span style=\"font-weight: 400\">It is estimated as awareness after the COVID-19 pandemic increases, fintech insurance would show the most growth potential in coming years. By 2025 the annual premiums collected through fintech startups could surpass the <strong>$15 billion<\/strong> mark at <strong>$15.343.3 billion<\/strong>.<\/span><\/li><\/ul>\n\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Summarized\"><\/span>Summarized<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">We can go on and on about the impact of the fintech industry in the lives of commoners, high net worth individuals, local stores, large businesses, government services, and the banking industry.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The realms of statistics from the past and the current trends paint a picture of stunning growth, increased market size, global reach, and the dominant market position of fintech adopters and innovators.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">All the above data points and statistics point toward a steep and almost breathtaking rise in the fintech industry.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The large and conventional incumbent players in the banking and financial industry try to figure out their strategy to remain one-up on Mint Street.&nbsp;<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">They are collaborating, acquiring, and creating dedicated teams within their frameworks to make the most of this opportunity. Because if they do not pull their act together today\u2019s opportunity would become tomorrow\u2019s threat.<\/span><\/li><li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The future innovators in the fintech space are full of surprises, exciting, and positive. If the current trends continue, then we may witness the fintech players become the de-facto financial services providers in our lifetime.<\/span><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Want to <a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/how-to-create-an-app.html\" target=\"_blank\" rel=\"noreferrer noopener\">build a mobile app<\/a> for your fintech business? You&#8217;ve come to the right spot since Emizentech, a top mobile <a href=\"https:\/\/multisitelocal.ezxdemo.com\/mobile-app-development.html\" target=\"_blank\" rel=\"noreferrer noopener\">app development company<\/a> can assist you in bringing your<a href=\"https:\/\/multisitelocal.ezxdemo.com\/blog\/finance-app-ideas-for-fintech-industry.html\" target=\"_blank\" rel=\"noreferrer noopener\"> fintech app ideas<\/a> to life.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Technology or Fintech companies and startups are ruling the roost in the new tech-enabled market. The pandemic forced people to stay indoors and order everything from staples to health kits from home. This led to an increasing dependence, acceptance, and demand for fintech apps among people. The anecdotal wisdom is supported by the amazing<\/p>\n","protected":false},"author":35,"featured_media":14373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"MSN_Categories":"Uncategorized","MSN_Publish_Option":false,"MSN_Is_Local_News":false,"MSN_Is_AIAC_Included":"Empty","MSN_Location":"[]","MSN_Add_Feature_Img_On_Top_Of_Post":false,"MSN_Has_Custom_Author":false,"MSN_Custom_Author":"","MSN_Has_Custom_Canonical_Url":false,"MSN_Custom_Canonical_Url":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[81],"tags":[93],"class_list":{"0":"post-14350","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile-app-development","8":"tag-app-statistics"},"modified_by":"Marketing EmizenTech","featured_image_src":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-content\/uploads\/sites\/2\/2021\/10\/The-Remarkable-Growth-of-Fintech-1.jpg","featured_image_src_square":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-content\/uploads\/sites\/2\/2021\/10\/The-Remarkable-Growth-of-Fintech-1.jpg","author_info":{"display_name":"Amit Samsukha","author_link":"https:\/\/multisitelocal.ezxdemo.com\/blog\/author\/amit"},"_links":{"self":[{"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/posts\/14350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/comments?post=14350"}],"version-history":[{"count":0,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/posts\/14350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/media\/14373"}],"wp:attachment":[{"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/media?parent=14350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/categories?post=14350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/multisitelocal.ezxdemo.com\/blog\/wp-json\/wp\/v2\/tags?post=14350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}