The fintech market size was valued at USD 257.26 billion in 2022 and is projected to grow from USD 294.74 billion in 2023 to USD 882.30 billion by 2030, exhibiting a CAGR of 17% during the forecast period (2023-2030). North America accounted for a market value of USD 89.61 billion in 2022. FinTech companies provide various financial technology services, tools, or solutions to other businesses (B2B) as a service. These services are typically delivered over the cloud, allowing other companies to integrate and use financial technology capabilities without developing these technologies in-house. Moreover, financial technology providers offer a wide range of financial services and technology solutions, including payment processing, Peer To Peer (P2P) lending platforms, fraud detection, blockchain technology, and more solutions.
These services are significantly used by banks, financial institutions, insurance companies, and others. Thus, growing focus on adoption of advanced technology in financial institutions to fulfill customer expectations is expected to drive the fintech industry growth. In the scope of work, we have included solutions provided by players such as Rapyd Financial Network Ltd., Unicorn Payment Ltd., Stripe, Inc., Mastercard, Fiserv, Inc., and others.
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