FinTech: An Industry on the Rise
"At Strategic Asset Leasing we believe that the financial tech industry is making bold moves in the market essential to business and business development..."
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Fintech companies acquired $111.8 billion globally in investments in 2018. According to the latest fintech industry report, global investments amounted to $37.9 billion during the first half of 2019.
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In the next three to five years, 77% of incumbent financial institutions will increase their focus on internal innovations to boost customer retention.
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A huge chunk of incumbent financial institutions (88%) believe that part of their business will be lost to standalone fintech companies in the next five years.
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Fintech investment is expanding beyond the major markets, with 39% of deals in the industry made outside of traditional hubs like the U.S.A., the U.K., and China.
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The total transaction value of digital payments in 2019 was $4.1 trillion. In 2020, it is expected to reach nearly $4.8 trillion.
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Artificial intelligence will save the insurance industry nearly $1.3 billion by 2023.
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Insurance fintech companies raised more than $1.8 billion worth of investments in 2018.
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The combined assets under management of digital wealth-management companies that focus on retail are expected to reach $600 billion by 2022.