Digital Market Outlook: FinTech transaction value growth by segment UK 2022

The graph presents the FinTech transaction value growth by segment in the United Kingdom in 2017, and provides a forecast thereof until 2022. Transactional value of personal finance in the UK is expected to grow by 97.4 percent in 2017. An overview of all Digital Markets can be found here.
Statista’s Digital Market Outlook offers forecasts, detailed market insights and essential performance indicators of the most significant areas in the “Digital Economy”, including various digital goods and services. Alongside revenue forecasts for 50 countries worldwide, Statista offers additional insights into consumer trends and demographic structure of digital consumer markets.

FinTech transaction value growth in the United Kingdom (UK) from 2017 to 2022, by segment

Characteristic	Digital Payments	Alternative Financing	Personal Finance	Alternative Lending	Special InsurTech: Online Distribution
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Release date

June 2018

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Region

United Kingdom

Survey time period

2016

Supplementary notes

* Estimate.

“FinTech” is short for ‘Financial Technology’, the central concept of structural change and digitization 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.

The characteristics of the digitization process of financial services include: simplified access for end users via the Internet or mobile Apps, an increase in the processing speed of automated processes, reduction in costs, a stronger focus on customer service, more convenience, higher transparency and the exploitation of network effects.

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