Global Fintech Market (2018 – 2023)

1. Global Fintech Market (2018 – 2023) April 20192019

2. Key Questions Answered in this Report • What is Covered? • What is the historical, current, and forecasted market size data for the global fintech market for the segments based on services and technology? • What is the historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) market size data for the global fintech market? • What are the regulations and initiatives in the fintech market in the different segments? • What are the major drivers and challenges impacting the fintech market? • What are the market trends and significant technological developments in the market? • What is the competitive landscape, along with the profiles of the major public and private players operating in the market? • What you get – Impact • Understand the demand for fintech for specific applications, in order to determine the viability of the business. • Identify the developed and emerging markets where fintech is consumed. • Determine optimal product positioning, and identify suitable distribution channels. • Identify the gap areas and address them. • Develop strategies based on industry standards and economic factors for the segments. • Define competitive positioning by comparing the products and services with other key players in the market.

3. Market Definition • Regtech: This refers to companies that offer technology-driven solutions to expedite and streamline compliance with reporting and regulations, as well as safeguards enterprises from employee and customer fraudulent cases. • Based on Technology • Blockchain/Cryptocurrency: Cryptocurrency is a virtual medium of exchange, created and kept electronically in Blockchain, distinct from other currencies. Cryptographic technology is used to decentralize the securely verified transactions and creation of monetary units. • Robotic process automation (RPA): RPA enables banks and other financial institutions to control data, process transactions, trigger responses, and communicate with other systems. • Artificial Intelligence (AI): AI uses data science and machine learning to develop personalized products for consumers. • Data analytics: Predictive analytics can help fintech companies provide customers with an individualized experience. • Payment/billing generates the highest revenue in the fintech market, followed by mortgage/real estate, money transfer/remittance, regtech, and insurtech. ‘Others’ include lending, public finance, capital market, wealth management, and others. • Based on Services • Payments/Transactions: This refers to enterprises whose business models involve the use of technology to offer services, and/or whose core businesses are based on the distributed ledger (Blockchain) technology or the usage of cryptocurrency (e.g. Bitcoin) for payments. • Personal finance: This refers to companies that offer technology-driven services to enhance retail customers' finances by assisting them to monitor savings, credit scores, spending, or tax liabilities. Fintech is used to offer retail banking services such as checking savings account balance outside the traditional brick and mortar bank branch. • Insurtech: This refers to companies employing technology to boost promptness, competence, accuracy, and convenience of processes across the insurance value chain. This includes insurance telematics, quote comparison websites, insurance domestics (home automation), corporate platforms, claims software, online brokers, cyber insurance, peer-to-peer insurance, underwriting software, and digital sales enabling.

4. Executive Summary Global FINTECH Market • Overview • The global fintech market is expected to expand at a CAGR of xx% during the 2018-2023 period, and reach a value of USD xx Bn by 2023. • Investments in the regtech and insurtech markets are expected to surge massively in the coming six months, in addition to substantial funding for facilitating technologies like Blockchain, AI, and RPA. • Drivers • The boom in the e-commerce sector has driven the use of online payments and e-wallets, all over the world. • Increasing demand for cryptocurrency has decreased the cost of transactions, and initial coin offerings (ICO), which is driving the fintech market. • Due to the rising need to eliminate fraud and crime in the financial sector, dependency on outdated software and paperwork has decreased, and the adoption of fintech-based solutions by the financial companies has increased. • Challenges • Uncertain regulatory principles and frameworks, and lack of diverse Blockchain applications and use cases are expected to delay the growth of the market during the forecast period. • Fintech firms are failing to keep up with the traditional financial companies because of the lack of ‘human touch’. Their functional models often leave clients feeling like they are dealing with some faceless entity. • Trends • AI and Blockchain are expected to be priorities for fintech investors, followed by insurtech and regtech, during the forecast period (2018-2023). • Factors such as rise in competition among new entrants, and growing global consensus on reducing remittance transaction fees are driving the penetration of digital channels. • Fintech companies in the remittance market segment have been experiencing remarkable progress since the past few years. Due to growing awareness about money transfer, remittance through fintech solutions has increased. Global Fintech Revenue (in USD Bn) CAGR: xx% Source: Netscribes Analysis Global fintech Market

5. Market Drivers and Challenges The infiltration of mobile devices and technology-based solutions across regions is propelling growth of the global fintech market. However, regulatory and compliance challenges continue to hinder its growth. • Key Drivers • Significant use of mobile devices and technology-based solutions are increasing the demand for financial and banking solutions, which can be accessed through personal devices. Banks and firms are investing heavily in technology-based solutions. • The cost of compliance has increased for global institutions, since they now need to comply with regulatory norms across jurisdictions. The mounting cost of compliance has compelled many corporates to invest in regtech companies. The advent of financial regulations including Payment Services Directive 2 (PSD2), General Data Protection Regulation (GDPR), and Markets in Financial Instruments Directive II/Markets in Financial Instruments Regulation (MiFID II/MIFIR) have accelerated the investment in the last six months. • The boom in the e-commerce sector has propelled the use of online payment methods and e-wallets, across the world. Enterprises, as well as individuals are trusting fintech companies with their data to transfer funds, make purchases online through e-commerce websites, and use e-wallets. • Challenges • One of the significant disruptions for the United Kingdom (UK) fintech is the introduction of GDPR. Financial firms, both old and new, have to invest substantial time and resources to certify that they comply with the new laws. • Fending off cyber-attacks is one of the paramount challenges faced by firms and governments, all over the world. Given the complex nature of the client data that companies store, this is a severe concern for fintech firms. Cybercriminals are hurling more frequent and sophisticated attacks. It is quite evident, owing to the fact that the number of data breaches had amplified in 2018. • Fintech firms are lagging behind when compared to traditional financial companies. They lack in ‘human touch’. Their functional models often leave clients feeling like they are dealing with a faceless entity. Global fintech Market

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