Fintech Growth in 2024: How to Adapt and Succeed in a Changing World
Introduction
Over the past decade, fintech has transitioned from the fringes to the forefront of financial services. Technological progress, rapid digitization, and changing customer preferences have fueled its meteoric rise. Let’s explore how fintechs are shaping the financial ecosystem and what lies ahead.
Key Themes Shaping Fintech’s Future
1. Market Capitalization and Unicorns
As of July 2023, publicly traded fintechs boasted a staggering market capitalization of $550 billion, doubling since 2019.
The fintech landscape also witnessed the emergence of 272 unicorns, collectively valued at $936 billion—a sevenfold increase from five years ago.
2. The 2022 Market Correction
A market correction in 2022 tempered the explosive growth mome...