As industry leaders are getting to understand the innovation matters, traditional financial institutions are becoming as digital as ever. At the same time, fintech start-up funding skyrockets, beating historical records.
But enough with evidence-free idle talk. Here are our picks for key fintech statistics 2022, proving that emerging technologies are the future of finance.
Key Fintech Statistics Of 2022
1. The majority of incumbent financial institutions intend to increase FinTech partnerships since 88% assume they will lose revenue to standalone fintech companies over the next five years, the recent PwC global report states.
2. According to Statista, in 2021, 64.6 percent of Americans used digital banking. The share is expected to grow to 65.3 percent this year.
3. Juniper Research has found that successful banking-related chatbot engagements will increase by 3.150% between 2019 and 2023.
4. The same source states that Robotic Process Automation (RPA) revenues in banking will make $1.2 billion in 2023: a 400% growth since 2018.
5. IDC’s study predicts that blockchain solutions will grow 75% through 2022.
These were some remarkable fintech statistics for this year. As you can see, the sector is smoking hot.
The influence of fintech is sure to be felt for years to come. To remain relevant, it is up to financial institutions to modernize through simplifying operations and moving away from physical channels to digital delivery.
To know more about how fintech can help your business, contact us. Our experts will be happy to walk you through our experiences and advantages.
