The Five Stages of Fintech and Their Impact on Financial Services

The global fintech space is the very embodiment of a growth market, with forecasts suggesting that it will achieve a total value of $556.58 billion by the year 2030.

To provide further context, this sector was worth around $133.84 billion at the end of 2022, with the market forecast to grow at a CAGR of 19.50% over the course of the next seven years.

This accelerated growth has much to do with the evolution of fintech and that stage that it has been able to reach, with the next decade likely to see the widespread integration of financial technology and APIs and the fusion between traditional and digital banking.

Appraising the Five Stages of Fintech

Let’s start by considering the five described stages of fintech, the fourth of which arguably began in earnest in 2022….