Market Research Report
Global FinTech Marketplace: Technologies, Applications, and Services 2021 - 2026
|Global FinTech Marketplace: Technologies, Applications, and Services 2021 - 2026|
Published: September 7, 2021
Content info: 105 Pages
Delivery time: 1-2 business days
This report provides a comparative analysis between legacy financial systems and emerging FinTech solutions including disruption, potential benefits, and challenges. The report evaluates the evolving FinTech market ecosystem including start-ups, banks, investment companies, insurance companies, and non-financial organizations. The report analyzes the global impact of FinTech and the outlook for specific regions. The report provides forecasts for the period 2021 to 2026.
Financial Technology (FinTech) represents a combination of financial services with Information Technology (IT) that is disruptive to the incumbent financial system as it transforms financial services including enhancements to existing areas as well as entirely alternative solutions. For example, the legacy financial system is under serious threat from emerging technologies, such as Blockchain, to eliminate the need for intermediary trust agents for payment clearing and settlements.
FinTech enabled services include peer-to-peer money transfers, lending services, online payments, and mobile payments. Financial organizations can develop solutions inhouse, partner with FinTech solution providers, or acquire them. Apart from operational issues and/or user experiences, CAPEX and OPEX factors greatly impact these decisions.
There is a high degree of interest in FinTech from the investment community as well as major corporations such as Google, Intel, Salesforce and many more. The banking industry is also starting to embrace FinTech solutions to establish distribution channels and to fend off competition from third parties. In 2020, the total investment was more than $105 billion.