The Future of Global Fintech: From Rapid Expansion to Sustainable Growth (World Economic Forum Financial Services)

Summary

• The study surveyed a total of 240 fintech companies across six business verticals and six regions.p.4
• 84% of surveyed fintechs are partnering with incumbent financial institutions, most commonly through API integrations (52%).p.4
• Average fintech customer growth was 37% from 2022-2023, down from 55% in 2020-2021 and 52% in 2021-2022.p.10
• The average revenue growth rate in 2023 was 40%, with LAC leading at 46%.p.11
• The average profit growth rate in 2023 was 39%.p.12
• Low-income populations make up 47% of fintech customers and women make up 41%.p.4
• 55% of respondents operate in advanced economies and 45% in emerging markets and developing economies.p.6

Key insights

1. APAC had the largest proportion of survey responses (30%), followed by Europe (28%).p.7
2. Fintechs in the US and Canada led customer growth at 44%, while SSA lagged at 21%.p.10
3. Digital banking and savings led revenue growth with a 67% increase.p.11
4. Digital banking and savings led profit growth at 59%, followed by insurtech at 42%.p.12
5. Technology solutions and infrastructure (48%) are the primary motivators for partnering with incumbents.p.4
6. Europe reported revenue growth of 36% and SSA 23%.p.11