Global Fintech Market 2018-2023 - Fintech Market Set to Reach USD 305.7 billion by 2023 - ResearchAndMarkets.com
Summary
The various services provided in the fintech sector are regtech, payment/billing, insurtech, money transfer/remittance, mortgage/real estate, and others (lending, capital market, wealth management). The popularity of payment apps like GoUrl, Cayan, Stripe, and Amazon Pay amongst customers and retailers will further drive the market. Major technologies involved in the fintech sector are artificial intelligence (AI), blockchain, cryptography, biometrics and identity management, cyber-security, and robotic process automation (RPA). The growth can be attributed to an increasing number of start-ups catering to most of the financial areas, including banking, insurance and wealth management. Latin America, on the other hand, is slowly emerging as one of the prominent regions in terms of fintech development, majorly driven by initiatives in Mexico and Brazil.