FinTech Report 2021

Statista Digital Market Outlook

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The rising number of internet and smartphone users as well as the aftermath of the financial crises of the early 21st century have led to the digitization of many financial products. FinTech, a combination of financial services and technology, has been rapidly evolving in the last decade. We have identified four major segments where innovative digital products and services challenge established players in the financial services field: Customer focus, digital touchpoints, higher levels of security and convenience make up the core elements of the growing FinTech movement. In this report, we consider the rapidly evolving FinTech market. We have identified four major segments where innovative digital products and services challenge established players in the financial services field.

FinTech, a combination of financial services and technology, is highly important for Digital Payments, whether that be Digital Commerce (mainly online shopping transactions) or Mobile POS Payments (making offline payments using digital payment technology). Other segments include Alternative Financing, which involves all kinds of crowd financing for small businesses or creative/innovative projects, Alternative Lending, such as P2P Marketplace Lending and Crowdlending for business purposes as well as Personal Finance, which includes automated private asset allocation in the form of Robo-Advisors, as well as Digital Remittances.

  • Language: English
  • Released: January 2021
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