FinTech user volume in Russia 2017-2024, by segment

According to the Digital Market Outlook, the FinTech segment with highest penetration rate in Russia was digital payments, which was expected to account for over 70 million users in 2024. Users of personal financing in the country were also expected to grow steadily, yet the figures were significantly lower compared to the former segment's levels.

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FinTech user volume in Russia from 2017 to 2019 with a forecast until 2024*, by segment

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Supplementary notes

* The Forecast was adjusted for the expected impact of COVID-19.

FinTech is short for ‘Financial Technology’, the central concept of structural change and digitalization within the financial services industry. Under the collective name FinTech (which still lacks a clear definition even within the industry), financial services are understood within the framework of the Digital Market Outlook. Digital infrastructures allowing the establishment of new types of agreements and procedures in the classic areas of banking such as lending, investment strategies and payments.

You can read full segments definitions here.

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Statistics on "Fintech in Russia "

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