The global economic climate in 2022 turned out to be tougher than we expected. But the Fintech industry is still evolving and growing. Current projections are that the Fintech industry is likely to grow at a compound annual growth rate of more than 22% a year, increasing from $11.8 billion in 2018 to about $306 billion in 2023.
For existing businesses and new entrants into the industry, there is still huge potential to satisfy an increasingly sophisticated and demanding customer base. Therefore, it is important to take into account the trends that will become driving forces and become mainstays of the Fintech industry in the years to come.
At Velmie we handle annual market research to be on track with trends and opportunities. This whitepaper is based on the statistical results of our survey and some in-depth interviews with industry experts. The report provides an overview of the Fintech trends, sectors to grow, challenges and opportunities based on the results of the survey. Some additional insights from the Fintech experts and Velmie’s use cases will give you a more detailed picture of the current situation and help with the next year's business predictions.
Main Fintech trends and fastest growing sectors in 2023
Adoption of emerging technologies
Fintech companies’ main challenges and criteria to choose a provider
Main customer needs in 2023
We hope the thoughts that we’ve shared in this whitepaper will help your business overcome the challenges and exploit the many opportunities that lie ahead for the Fintech industry!