Fintech Technologies Market Definition
The key reason for the growth of the fintech market includes high investment in technology-based solutions by banks and firms. Moreover, infrastructure-based technology and APIs are reshaping the future of the financial services industry, thus aiding the growth of the global fintech market. Furthermore, financial technology companies are delivering low-cost personalized products on account of emerging developments in the technology sector, leading to rising customer expectations, thereby, boosting the market growth globally. According to McKinsey’s, 80% of traditional financial institutions have been exploring innovations in 2018. Investments in the field are estimated to reach USD 30.8 billion – now compare this number to USD 1.8 billion in 2011.
The market study is broken down, by Application (Banking, Insurance, Securities and Others) and major geographies with country level splits.
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).
AdvanceMarketAnalytics has segmented the market of Global Fintech Technologies market by Type, Application and Region.
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 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. Cloud will boost the Fintech Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. API will boost the Fintech Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Payment will boost the Fintech Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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.
- High Adoption due to Rising Investment In the Fintech Technologies Solutions
- The Increasing Inclination towards E-Commerce across the Globe
- The Increasing Use Of Mobile Banking Applications
- High Demand due to FinTech Strengthening Financial Data Security
- Increasing Penetration of Blockchain In Various Sectors
- The Growing Concern Related to the Consumer Data Security
- The Governmental Regulations with Stringent Rules
Key Target AudienceFintech Technologies Providers, Government Research Organization, Private Research Organizations, Government Regulator Bodies and Others
About ApproachThe 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.
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