The global fintech landscape is witnessing a staggering growth, fueled by booming consumer adoption, supportive regulatory efforts and technological advancements.
Between 2015 and 2019, consumer adoption of digital money transfer and payment services grew from a mere 18% to an impressive 75%, findings from a Statista survey found. Insurtech, alternative lending and online savings and investment recorded similar spectacular growths, surging between 20 to 40 points during the period.
At the same time, adaptive regulations are acting as a facilitator for the fintech industry, providing frameworks that balance innovation with consumer protection and financial stability, all the while encouraging innovation in the banking sector and fostering competition in the sector.
As fintech continues to grow and evolve, a number of large-scale fintech gatherings are being scheduled for 2024.
Source: Fintech News