Financial technology (FinTech) is the latest innovation that seeks to compete in the delivery of financial services with traditional economic techniques.
Financial technology (FinTech) is the latest innovation that seeks to compete in the delivery of financial services with traditional economic techniques. A significant majority of global banks, insurers, and investment managers plan to partner with financial technology firms over the next 3-5 years and expect an average investment return of 20 percent on their development projects. The Digital Payments market segment has resulted in consumer transactions and involves payments for Internet-based products and services as well as mobile point-of-sale (POS) payments via smartphone apps. The total transaction value in the prediction period is anticipated to record an annual growth rate.
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FACTORS DRIVING THE MARKET
• High usage of mobile devices and technology-based solutions
• Growing investments in technology-based finance solutions from banks and firms
REGION WISE MARKET ANALYSIS
North America is the worldwide fintech market's major contributor and is anticipated to achieve USD 80.85 billion by 2023. Throughout the rapidly evolving Asia-Pacific fintech landscape, opportunities abound and investment is rushing to tap into them. Open banking and other regulatory projects are redefining financial services markets, with third-party suppliers ready to access client information from previously proprietary banks. On the other side, in terms of fintech growth, Latin America is slowly emerging as one of the prominent areas, driven mainly by projects in Mexico and Brazil.
SEGMENTS AND CLASSIFICATION
The overall fintech market is classified into three segments based on the type, application, and region
Segments in the Global Fintech Market Based on Type
• Distributed Computing
Segments in the Global Fintech Market Based on Application
• Asset Management
Segments in the Global Fintech Market Based on Region
• United States
• Southeast Asia
• Central & South America
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The study involves an overview of the leading players working in the industry. Some of the primary market dominant players are currently being researched in terms of market share.
• Ant Financial
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WHAT THE REPORT HAS TO OFFER
The study analyzes the status of worldwide FinTech, future forecasts, opportunities for development, key markets and important players. It also offers strategic profiling of main players and analyzes their growth plan and policies comprehensively.
REPORTS COVERING SPECIFIC SUBSETS OF FINTECH MARKET
AI in Fintech Market:
The report provides key statistics on the market status of the AI in Fintech manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
Blockchain in Fintech Market:
The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
FinTech Investment Market:
The report makes some important proposals for a new project of FinTech Investment Industry before evaluating its feasibility.
Source: EIN Presswire