Europe: consumer fintech adoption rate 2019, by country

FinTech are organizations that incorporate innovative business models and technology to enable, enhance and disrupt the financial services market. The sector introduces both “disrupted” services that reshape and challenge conventional products, such as the digital-only branchless banking, and newly invented services now possible because of technological breakthroughs (i.e. peer-to-peer payments and non-bank money transfers).

FinTech adoption rate

Consumer adoption of FinTech companies and products has grown rapidly across Europe. In Russia, FinTech adoption is especially high, with 82 percent of the surveyed people using two or more different FinTech services. This is most likely due to foreign sanctions imposed on major Russian banks. In the Netherlands, Ireland and the United Kingdom (UK), almost three quarters of digitally active consumers had adopted some form of FinTech product in 2019.

Digital-only branchless banking

The London based company Revolut is among the most popular digital-only branchless banking service providers. In 2019, it was in the top five largest venture capital backed FinTech companies in Europe. In the past year, the challenger bank saw its customer base rapidly increase. If the trend continues, the number of Revolut customers is likely to exceed nine million by the end of 2020. This is no surprise taking into consideration that the use of online banking services is widely adopted by UK digitally active population.

Consumer fintech adoption rates in select European countries in 2019

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Release date

September 2019


Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Russia, Spain, Sweden, Switzerland, United Kingdom

Survey time period

From February 4, 2019 to March 11, 2019

Number of respondents

27,103 digitally active adults

Special properties

27 markets worldwide

Method of interview

Online survey

Supplementary notes

The source defines adoption rate as: "Percentage of digitally active people who used at least two fintech services in the last six months. The figures show FinTech adopters as a percentage of the digitally active population in each market. All averages are shown on an unweighted basis. "

FinTech includes money transfer and payments, budgeting and financial planning, savings and investments, borrowing and insurance.

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Statistics on "Fintech in Russia "

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