As a result, the financial technology sector is more popular than ever, with mass market uptake and increasing venture capital funding. The number of people using challenger banks is no longer counted in the thousands but the millions, and other banks are wrestling with regulations to go head-to-head with the largest banks that, until now, were untouchable.
Ultimately, the Fintech market is no longer focused on simply finding innovative solutions to specific problems but has become a prosperous mass market in itself.
These are just some of the key points found in the latest report by the specialist website Fintech Futures
, which is part of the British business intelligence and publishing group Informa PLC. Here at GDS Modellica, we wanted to highlight five insights from this report and present them in an infographic for our readers. Fintech companies of all types have embarked on this journey and have quickly picked up speed, but there is still a long way to go toward the digitalisation of financial services.