Global consumer fintech adoption rates 2015-2019, by category

Consumer adoption of fintech companies and products has grown rapidly worldwide between 2015 and 2019. As of 2019, 75 percent of consumers globally have adopted some form of money transfer and/or payment service. Insurance (insurtech) adoption has seen a significant growth from 8 percent in 2015 to almost 50 percent in 2019.

Fintech revolution continues

Financial technology, better known as fintech, is the application of technology in the financial services industry to offer digitally enhanced products in the areas of digital payments, alternative financing, alternative lending, and personal finance. Globally, the number of companies operating under the category of fintech has substantially increased not only in North America but also in EMEA and APAC.

Fintech investments continue to rise

With the continued digitalization of the finance industry and the adoption of fintech products from both the industry itself but also consumers, it is unsurprising that the value and volume of investment into the sector has grown continuously since 2010. The value of investment into fintech companies worldwide in 2019 was more than double that seen in 2017.