I N S I G H T R E P O R TJ A N U A R Y 2 0 2 4The Future of Global Fintech: Towards Resilient and Inclusive GrowthImages: Getty Images© 2024 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders.ContentsForeword 3Executive summary 4Introduction 51 Fintech market performance 82 The major factors impacting fintech growth 133 Fintech perceptions of the regulatory environment 214 How fintechs are creating a more inclusive financial system 265 An eye to the fintech future 37Concluding thoughts 40Contributors 41Endnotes 45The Future of Global Fintech: Towards Resilient and Inclusive Growth2ForewordAs the global fintech industry continues to grow and scale, the financial services ecosystem is presented with both new opportunities and challenges. Fintechs are frequently looking to revamp their business models and offer new products and services while expanding into new markets, sometimes amid considerable regulatory and policy uncertainties. Concurrently, regulators and policy-makers around the world are increasing their attention to fintech activities, and are enhancing their ability to regulate and supervise such activities. They grapple with the task of simultaneously encouraging innovation, protecting consumers and mitigating emerging risks. Given the rapidly developing fintech environment, additional empirical research, with reliable data and accessible outputs, would be a valuable tool for fintechs and public sector decision-makers alike.To support this need, the World Economic Forum and the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School jointly launched the Future of Global Fintech research initiative to collect more empirical data to understand the global market trends, generate regional fintech insights and assess how fintech activities are impacting consumers, small- and medium-sized enterprises (SMEs) and financial inclusion. A key activity of the Future of Global Fintech initiative has been conducting a panel survey to take the pulse of the global fintech industry. Working with a carefully curated research panel of 227 fintechs across five industry verticals and six regions, this survey aims to produce actionable insights to inform fintech market development and evidence-based regulation. We are delighted ...
