In-depth: FinTech 2019

Statista Digital Market Outlook - Trend Report

The last decade has witnessed considerable disruption in the traditional banking industry, especially in the areas of payments, lending, wealth management and retail banking. Interestingly, this change has not only been limited to Financial Technology (FinTech) start-ups. Large technology and e-Commerce companies such as Google, Amazon, Facebook, Apple and Alibaba have managed to leverage their massive reach and technological capabilities to pose a stiff challenge to competitors.

What's included?

PDF report:
  • Global market size & forecasts
  • Selected business & revenue models
  • Deep dive: P2P Money Transfer
  • Deep-dive: Blockchain
  • Case study: Ant Financial
  • Consumer insights
  • Competitive landscape: Venmo, Stripe, OnDeck, LendingClub, Prosper, SoFi, Wealthfront
  • List of U.S. FinTech start-ups
  • List of U.S. banks with FinTech activities

Global comparable data and information on the FinTech market can be found in the Statista Digital Market Outlooks.

In the Statista Digital Market Outlook - Trend Reports our analysts focus on hot topics and compile a comprehensive collection of data, insights, and key player analysis. An overview of all Outlook Reports can be found here.

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BeschreibungInhaltTabellen

The last decade has witnessed considerable disruption in the traditional banking industry, especially in the areas of payments, lending, wealth management and retail banking. Interestingly, this change has not only been limited to Financial Technology (FinTech) start-ups. Large technology and e-Commerce companies such as Google, Amazon, Facebook, Apple and Alibaba have managed to leverage their massive reach and technological capabilities to pose a stiff challenge to competitors. The FinTech industry as we consider it, consists of four segments: digital payments, alternative financing, alternative lending and personal finance. Of those digital payments have the largest transaction volumes by far.

The digital payment and lending businesses such as mobile wallets, P2P payments, Alternative Lending, crypto-currencies and Robo-Advisors are now finding mainstream acceptance in both developed and emerging countries. Broadly speaking there are three types of players in the Digital Commerce payments market: providers with their own wallet such as Venmo and PayPal, online payment interface providers such as Stripe and B2B offline payment providers such as Square. These providers make money by charging fees for each transaction, which is usually paid by the merchant. Alternative lenders and Robo-Advisors make their money by either charging service fees from borrowers and investors or transaction fees from the bank.

Currently, the Statista Digital Market Outlook focuses on international P2P Money Transfers. This deep dive chapter is looking at both domestic and international digital transfers including those for micro-services and bill sharing for the U.S., the UK, India and China. The U.S. P2P payments market is among the biggest globally. The market is expected to increase from US$151bn in 2017 to US$381bn in 2022. The most dominant players are Zelle, Venmo and Square. The Indian P2P payments market on the other hand is among the most exciting and fastest growing globally, poised to increase at an overall average annual growth rate of over 72% from US$10.5bn in 2017 to US$159.2bn in 2022.

Blockchain is a distributed ledger technology that can be used to execute, store, and verify transactions of every kind. It’s main uses are in money transfer, buying and selling stocks, insurance contracts and buying and selling physical goods or energy. Blockchain funding is still going up with over 144 start-ups managing to raise US$640 million in funding in 2017. Crypto-currencies are probably the most well known adoption of blockchain technology. Bitcoin is by far the oldest, that emerged in 2009, and the most widely used crypto-currency in the world. It also has the highest market capitalization and highest value per unit at the moment.

Ant Financial, the highest valued FinTech company in the world, is the holding company of Alibaba’s financial products. It operates in various business areas including Digital Payments: Alipay, Business Finance: Ant Micro Loan, Marketplace Lending: Ant Check Later, Wealth Management: Ant Fortune, Online Banking: Mybank and Insurance and credit reference: Sesame Credit. It’s dominance can be gauged from the fact that in February 2014, Alipay announced for the first time, that its mobile payments volume was greater than both PayPal and Square combined. Key factors behind Ant Financial’s success include diversified businesses, robust government support and a strong international presence.

When paying online, designated online payment methods (e.g. PayPal, Amazon Payments) are highest in use in Germany, the UK and China as compared to other forms of payments such as credit/debit cards, prepaid cards and direct debit. However, credit cards were used by most of the U.S. Americans for making payments online. PayPal dominates the German, UK and U.S. markets, whereas Unionpay and Alipay have highest usage in China. Cash still dominates financial transactions at the POS in the U.S. and Germany, but in China mobile payments have already taken the lead. The most widely used mobile payment provider in China is WeChat Pay, whereas Apple Pay leads in the UK and the U.S., and Payback Pay tops the chart in Germany.

The U.S. leads in the number of Fintech companies globally. Specifically, most of the prominent U.S. FinTech companies are located in California and New York. We have a closer look at some of those prominent U.S. FunTech start-ups: Venmo, Stripe, Ondeck, Lending Club, Prosper, SoFi, Betterment, and Wealthfront. Even if they are offering services in the same segments the specific conditions and features vary a lot. For example, in Marketplace Lending segment SoFi offers personal loans with variable interest rates whereas to LendingClub and Prosper provide that with fixed rates.

SoFi, based out of California is the most well funded fintech company with over US$2bn raised since 2011. The company is backed by key investors such as SoftBank, Silver Lake Partners, Peter Thiel and others and was last valued at US$4.5bn in Q1 2017. Avant and Kabbage are two other key FinTech startups that managed to get more than US$1.5bn in funding.

A number of U.S. banks have made FinTech investments with Goldman Sachs leading the pack with 20, followed by CapitalOne (13) and Citigroup (12). Additionally, the banks have also started innovation hubs focused on various areas such as mobile banking, block chain and crypto-currencies, wearables, Internet of Things, next-generation commerce, authentication, biometrics integration, augmented reality and big data.

  • Sprache: Englisch
  • Veröffentlicht: 2019
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