The entire world has gone mobile. Looking at the speed at which financial companies and institutions are adopting digital solutions, it probably won’t be a mistake to assume that in the nearest future we will live in a completely cashless world.
Fintech apps have played a game-changing role in this revolution. They made payments easier, transactions more secure, and lendings attainable at our fingertips. They’ve put the whole range of financial and banking services directly in our pockets.
FinTech Industry Size in 2021 - Let’s Look at The Statistics
- Fintech accounted for $1 in every $5 of worldwide venture capital;
- It was a year of record unicorn count - 151 new unicorns;
- VC funding into private fintech companies was over $134 billion;
- Digital Payments will become the largest Fintech segment in 2022 with a total transaction value of $7,860,739;
- The number of users of Digital Payment is expected to reach 4,929,55 million users by 2025
Types of Fintech Apps
Fintech applications are usually divided into 5 main categories:
- Digital banking;
- Personal finance;
- Blockchain and cryptocurrency;