According to the latest research report titled, “Fintech Market (2024 – 2029)” by Mordor Intelligence, the fintech market is estimated at USD 228.24 billion in 2024 and growing at a CAGR of 11.72% during the forecasted period. 

FinTech (Financial Technology) has become a prominent term within the financial market. It encompasses computer programs and other modern technologies utilized by businesses to offer automated and enhanced financial services. Over time, the fintech industry has undergone significant evolution, prompting companies to shift towards customer-centric models. Consequently, establishing a foothold amidst a diverse array of entities, spanning from startups to tech giants to established firms worldwide, presents a formidable challenge. Financial services and technology companies have adopted both collaborative and competitive strategies, venturing into each other’s domains and driving forward with disruptive and innovative propositions within an ever-changing business landscape. 

Report Summary 

  • Market Size (2024): USD 228.24 billion 
  • Market Size (2029): USD 397.24 billion 
  • CAGR (2024 – 2029): 11.72% 
  • Study Period: (2019-2029) 
  • Forecast Units: Value (USD Billion)   
  • Report Scope: Market Dynamics, Revenue Forecast & Segmentation, Competitive Landscape & Recent Developments, Market Growth, Future Opportunities, and Trends    
  • Market Drivers: Rising Demand for Quality and Fast Service and Growth and Competition among Retail Industry and E -commerce 

Which are the Top Companies in the Fintech Market?     

In today’s landscape, well-established financial institutions are actively pursuing collaborations with emerging technologies to broaden their market reach. Likewise, FinTech startups are forging partnerships with established financial entities to accelerate their growth and market penetration. 

Prominent players in the Fintech Market: 

  • Ant Financials 
  • Zhong An International 
  • Atom Bank 
  • Paypal 
  • SoFi 
  • CoinBase 
  • Robinhood 
  • Adyen 
  • N 26 
  • Ally Financials 
  • Oscar Health 
  • Klarna 
  • Avant 

Other Reports that Might be of Your Interest 

  • Vietnam Fintech Market Report: The Vietnam Fintech Market size in terms of transaction value is expected to grow from USD 39.02 billion in 2024 to USD 72.24 billion by 2029, at a CAGR of 13.11% during the forecast period (2024-2029) 
  • North America Fintech Market Report: The North America Fintech Market size in terms of transaction value is expected to grow from USD 5.62 trillion in 2024 to USD 10.86 trillion by 2029, at a CAGR of 14.07% during the forecast period (2024-2029)  

Key Highlights from the Fintech Market Report 


1. Surging Adoption of Digital Payments is Driving the Market 

The COVID-19 pandemic has catalyzed financial inclusion, leading to a notable surge in digital payments and the worldwide expansion of formal financial services. This expansion has opened new economic prospects. Developments in payments, including the displacement of cash, and the emergence of new payment options like request-to-pay, digital currencies, and buy-now-pay-later services (BNPL), have all contributed to the potential growth of the FinTech market. 

2. Surging Investment in Fintech Companies is Anticipated to Drive the Market 

Investments in financial technology have experienced significant growth globally. From 2010 to 2019, the total investment value in fintech companies surged to USD 215.1 billion. However, there was a notable decline in 2020, with investments plummeting by over one-third to USD 127.7 billion. Nevertheless, 2021 witnessed a resurgence, with investments climbing back up to USD 226.5 billion. The United States emerged as the primary recipient of investments in the sector, capturing nearly 80% of the total. This investment trajectory in financial technology is poised to generate promising growth opportunities for the market. 

What are the Latest Developments in the Fintech Market?    

  • In May 2022: Mastercard announced cooperation with Synctera, a renowned FinTech banking service. The firms collaborated to supply account validation solutions for Synctera-powered FinTechs using Mastercard’s open banking platform. 
  • In March 2022: Envestnet has partnered up with Productfy, a developer of a business-to-business FinTech platform. With this collaboration, FinTech creators using Productfy’s platform would have direct access to Envestnet via a single interface. 

Mordor Intelligence Report on the Fintech Market segments the market based on product type, application, and geography: 

  • By Service Propositions (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • Money Transfer and Payments 
  • Savings and Investments 
  • Digital Lending & Lending Marketplaces 
  • Online Insurance & Insurance Marketplaces (Insights into Life & Non-life segments covered) 
  • Others (E-Commerce Purchase Financing, etc) 
  • By Geography (Market Size & Forecast based on Value (USD billion), 2024-2029)   
  • North America 
  • United States 
  • Canada 
  • Europe 
  • United Kingdom 
  • Germany 
  • France 
  • Spain 
  • Switzerland 
  • Rest of Europe 
  • Asia-pacific 
  • China 
  • Japan 
  • India 
  • Indonesia 
  • South Korea 
  • Rest of Asia-Pacific 
  • Middle East & Africa 
  • UAE 
  • Saudi Arabia 
  • Lebanon 
  • Rest of Middle East and Africa 

In a nutshell, the Mordor Intelligence Market Research Report provides in-depth market insight to industry players, investors, researchers, consultants, and business strategists, looking for comprehensive details on the Fintech industry. Get a glance at the Fintech Market Report (2024 – 2029) 

About Mordor Intelligence 

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.  

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence uniquely understands the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.   

Other Related Reports that Might be of Interest 

  • United States Fintech Market Report: The United States Fintech market reached a size of USD 4 trillion in the current year and registered a CAGR of 11% over the period of the forecast. 
  • Singapore Fintech Market Report: The Singapore Fintech Market size in terms of transaction value is expected to grow from USD 38.80 billion in 2024 to USD 63.18 billion by 2029, at a CAGR of 10.24% during the forecast period (2024-2029). 

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