83 Fintech Statistics You Need To Know for 2022 and Beyond - Siege Media

83 Fintech Statistics You Need To Know for 2022 and Beyond - Siege Media

With the latest fintech statistics, it’s clear that going into banks is becoming a thing of the past. The global fintech market is growing, and you need to know how to reach consumers in this competitive environment.

Fintech disrupted the financial industry and became a multi-billion dollar sector that continues to grow at an exponential rate.

Some experts predict that the fintech market will grow to over $37 billion by 2026.

Whether moving money on your banking app, sending money to a friend to split the dinner bill, or paying for coffee with the tap of a phone, people from all generations are using fintech. If you’re in the business of fintech content marketing, knowing the latest statistics and trends will help you know which audiences to target and where your content can stand out.

We’ll discuss how much the industry is worth, bitcoin and blockchain statistics, COVID-19’s impact on fintech, and much more.

If you’re not in the world of finance, you might be asking, “What is fintech?” In short, fintech is the financial technology that allows us to move money with ease.

Fintech is the home to a variety of services that you most likely use on a weekly or even daily basis. When you use an app to send a friend money, use mobile banking, or buy crypto, you’re using fintech.

Fintech is also an important market for the SEO and marketing industry. With so many venture capitalists funding fintech startups, these businesses are going to use some of that budget on marketing to get the word out.

Not only is the use of fintech growing around the world, it’s also improving customer experience and helping those who are unbanked. These trends show more and more people are beginning to leave traditional financial services behind in lieu of the convenience of technology.

The fintech industry is growing around the world, while more and more startups receive massive amounts of venture capital funding.

Currently, the United States is the largest home to fintech startups, but Asia isn’t far behind.

In 2022, there was over $25 billion worth of funding in the global financial services market.

While there’s not a solid number for how much the entire fintech industry is worth, the valuation trends and investments from venture capitalists we cover can help indicate how much the industry is worth.

If you need proof that fintech is outgrowing traditional financial services, Econsultancy and Adobe showcase this in a 2021 study. When surveying finance and insurance firms, they found that 54% said fintech was outgrowing their legacy services. Survey participants also said legacy systems and a lack of digital skills held back customer experience.

The fintech industry is broken up into various sectors, and the top fintech companies provide a variety of different services. Sectors include digital payments, lending, insurance, banking, and more.

According to the FDIC, the use of mobile banking continues to be the preferred banking method over going to the bank. Mobile banking use rose 9.5% in 2015, 15.6% in 2017, and 34% in 2019.

With so many people turning to mobile banking and fintech, it’s more important for financial services companies to invest in digital marketing like SEO.

There’s a lot of venture capitalist money flowing into fintech startups, and it’s most likely due to many of the best fintech companies seeing so much growth.

Not only has there been a sharp rise in users turning to fintech, but more people are searching for modern ways to manage their money.

Many analysts and experts have been pointing to fintech stocks as great buys as more people begin to adopt the technology.

Market gurus like Cathy Wood are investing quite a bit in fintech stocks, with her exchange-traded fund (ETF) ARKF owning over 630,000 shares.

As people continue to use fintech, they’re using search engines like Google to find services, which is why SEO is crucial to any marketing campaign. As mentioned, there are 49 fintech companies listed on the Nasdaq, and many startups are getting millions in investment funding to contribute to their marketing.

Fortunately, regardless of your company’s size, you can break through the competition and be who customers first see when searching for fintech services on Google by utilizing SEO.

Venture capitalists who didn’t get in early of fintech startups had a massive amount of regret, and now there are billions of dollars flowing into this industry.

Around the world, we’re seeing major increases in funding across all of the fintech verticals.

The blockchain is where hundreds of thousands of cryptocurrency transactions take place on a daily basis.

But blockchain technology is more than just trading cryptos like Bitcoin and Ethereum.

The blockchain is a safe and secure technology and can help the 7.1 million unbanked American households who can’t access traditional financial institutions. Additionaly, blockchain technology is used by some of the biggest companies in the world like IBM, Microsoft, Intel, Goldman Sachs, and Walmart.

Bitcoin is a deflationary currency, which means that there’s a limited number of them that will ever be created.

Once 21 million Bitcoins are mined, no more can be created, unlike fiat currencies that governments around the world can create.

Although the United States is the world leader in the fintech market, we’re seeing more countries begin to use fintech.

Countries from the United Kingdom to India, Singapore, and beyond are receiving funding as people turn to digital financial services.

Research from Deloitte’s Fintech by the Numbers analysis showcases fintech’s exponential growth on a global scale as well as projected growth through 2024. The below data uses actual figures up to 2018.

In the early months of the pandemic, there was a 72% rise in the use of fintech apps in Europe due to lockdown orders that attempted to limit the spread of COVID-19.

The lockdown forced more people to turn to fintech to manage their finances, make payments and more while having limited access to banks.

Throughout the pandemic, the World Economic Forum (WEF) conducted studies to specifically tease out data that showed how the pandemic impacted the fintech industry.

There are millions of unbanked or underbanked Americans, and there are even more when looking through a global lens.

Unbanked and underbanked refer to those who don’t have access to traditional financial services like bank accounts.

These people have to turn to resources like money orders, check cashing services, payday advances, and more.

Fintech has become the solution for many people who are unbanked or underbanked. To understand how important fintech is for these populations, it’s helpful to understand how big this problem actually is.

One of the most important trends to keep an eye on is the fact that more people are exclusively using fintech.

For those in the financial services industry, this is crucial so you know where to invest your time and resources. It’s also important so you’re spending your marketing dollars in the right place.

The majority of people spend at least five to six hours on their phones each day, and 11% of people spend seven hours or more on their device.

With people using their mobile devices this much, it’s no wonder that over half of the adults in America use fintech apps. More people are using fintech to send money to friends, pay their bills, and much more.

Some people don’t think of artificial intelligence (AI) when discussing fintech, but roughly 90% of global fintech companies are using it today.

The largest fintech companies in the world use AI and machine learning to help with fraud detection as well as for customer service via chatbots.

Whether you’re in the business of fintech or looking to create a fintech branch of your financial services business, you now know how massive the fintech industry has become.

More importantly, there’s no sign that its growth is going to slow down any time soon. With billions of dollars of investments each quarter and so many people using fintech, you don’t want your business to be left behind.

The primary way people discover the capabilities of fintech and which services to use is through search engines. When people are looking into apps and other digital services to suit their financial needs, you want to be sure that you’re what’s showing up on the first page of Google.

Siege Media has a decade of experience helping companies increase their web presence through content marketing and keeping up with the latest in Google algorithm updates.

To learn more about how Siege can help you and your fintech company, contact us today for an SEO consultation.

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