Fintech Technologies Market Scope
The substantial investment in technology-based solutions by banks and businesses is one of the main reasons for the fintech market's rise. Furthermore, infrastructure-based technologies and APIs are transforming the financial services industry's future, assisting the global fintech market's expansion. Furthermore, as a result of increasing technological breakthroughs, financial technology businesses are supplying low-cost customised products, raising client expectations and boosting global market growth. According to McKinsey, in 2018, 80 percent of traditional financial institutions were experimenting with new ideas. Investments in the industry are expected to reach USD 30.8 billion, a significant increase from USD 1.8 billion in 2011.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Fintech Technologies market throughout the predicted period.
Stripe (Germany), YapStone (United States), Braintree (United States), Adyen (Netherlands), Lending Club (United States), Addepar (United States), Commonbond (United States), Kabbage (United States), Robinhood (United States) and Wealthfront (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are SoFi (United States), BillGuard (United States), Avant (United States), PitchBook (United States), TransferWise (United Kingdom), Morningstar (United States) and Enfusion (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Fintech Technologies market , by Application (Banking, Insurance, Securities and Others) and Region with country level break-up.
On the basis of geography, the market of Fintech Technologies 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). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 2nd Dec 2021, TikTok Partners With Fintech Firm Stripe for Tips Payments. TikTok is a social media platform that allows its users to upload short videos. It now has more than 1 billion active monthly users. And Stripe is a financial technology company enabling businesses to accept payments and run their finances. At the time of publication, it was valued at USD 95bn USD. and on 7th October 2021, UK-based fintech Tide has partnered with payment service provider Adyen to expand its platform with a payment acceptance offer.
May 26, 2021, Payments startup Adyen gets Fed banking approval, clearing the path to expand U.S. services. After getting the Federal Reserve’s blessing this week, Dutch payments company Adyen is one step closer to receiving a U.S. banking license that will enable the fintech startup to expand its services to American merchants. and On 9th Jan. 9, 2019, Cross River Bank, a fast-growing provider of banking services for financial technology companies, today announced that it has established a partnership with Stripe to help those in the marketplace economy such as workers in ridesharing, food delivery, and other freelance occupations by providing them with access to their earnings through push-to-card payments.
Market Trend
- High Adoption due to Rising Investment In the Fintech Technologies Solutions
- The Increasing Inclination towards E-Commerce across the Globe
Market Drivers
- The Increasing Use Of Mobile Banking Applications
- High Demand due to FinTech Strengthening Financial Data Security
Opportunities
- Increasing Penetration of Blockchain In Various Sectors
Restraints
- The Growing Concern Related to the Consumer Data Security
Challenges
- The Governmental Regulations with Stringent Rules
Key Target Audience
Fintech Technologies Providers, Government Research Organization, Private Research Organizations, Government Regulator Bodies and Others