About Financial Technology
Financial technology is the automation in the finance industry as it improves and optimizes the delivery and consumption of financial services across the world. The financial technology is widely used by companies, governments, business owners, consumers to better manage their operations and transaction process. The technology helps in international money transfers, personal finance, equity financing, consumer banking, insurance, etc.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stripe (United States), Yapstone, Inc. (United States), PayPal Holdings, Inc. (eBay) (United States), Social Finance, Inc. (United States), Adyen (Netherlands), Addepar, Inc. (United States), CommonBond (United States), Robinhood Markets, Inc. (United States), LendingClub (United States), Creditease Corp. (United States) and ONE Finance Private Limited (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Financial Technology market by Type (Peer-To-Peer Money Transfers, Lending Services, Online Payments, Mobile Payments and Crowdfunding), Application (Banks, Financial Consultancy and others) and Region.
On the basis of geography, the market of Financial Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Features, the sub-segment i.e. International Money Transfers will boost the Financial Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Artificial Intelligence, Blockchain, and Machine Learning in the Financial Technology
Market Growth Drivers:
Growing Financial Industry Worldwide and Increasing Digitalization and Automation in Financial Operation for Efficiency and Productivity
Challenges:
Stiff Competition in the Financial Technology Market
Restraints:
Risk Related to Data Security in Financial Technology and Stringent Regulatory Compliances with Financial Technology
Opportunities:
Technological Advancement in the Financial Technology and Increasing Spending of Government in the Financial Technology
Market Leaders and their expansionary development strategies
In December 2020, Stripe, the technology company building economic infrastructure for the internet, today announced that it is launching Stripe Treasury. This gives Stripe’s platform users powerful APIs to embed financial services, enabling their customers to easily send, receive and store funds.
Key Target Audience
Financial Technology Providers, Financial Technology Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.