According to Cognitive Market Research, the global fintech market size is USD 251421.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 19.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 100568.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 75426.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 57826.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.2%% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD 12571.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.6%% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5028.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.9%% from 2024 to 2031.
The regtech sector held the highest fintech market revenue share in 2024.

Market Dynamics of FinTech Market

Key Drivers of FinTech Market

Adoption of Cloud Computing Technology in FinTech Services to Provide Viable Market Output

The fintech market encompasses innovative technologies that disrupt traditional financial services, offering efficient and convenient solutions to consumers and businesses. With the adoption of cloud computing technology, fintech services benefit from scalable infrastructure, enhanced data security, and improved accessibility. Cloud-based fintech platforms enable seamless integration, real-time data processing, and cost-effective operations, driving efficiency and innovation in areas such as payments, lending, wealth management, and insurance, ultimately transforming the financial landscape.

For instance, in September 2023, Finastra launched compliance-as-a-service, an end-to-end solution for banks operating in the US and Europe. This solution was launched on Microsoft Azure for instant bank payment.

(Source: https://www.finastra.com/press-media/finastra-launches-compliance-service-help-banks-combat-financial-crime-instant-payments )

Various Strategies Adopted by Key Players to Propel Market Growth

The fintech market encompasses various financial technologies that leverage digital innovation to enhance and streamline financial services. Key players in this dynamic sector employ diverse strategies to stay competitive. These include embracing blockchain technology for secure transactions, leveraging artificial intelligence and machine learning for personalized financial recommendations, implementing mobile payment solutions for convenience, and partnering with traditional financial institutions to expand market reach and access to services.

For instance, in March 2022, Envestnet partnered up with Productfy, a developer of a business-to-business FinTech platform. With this collaboration, FinTech creators using Productfy's platform would have direct access to Envestnet via a single interface.

(Source: https://www.yodlee.com/envestnet-yodlee-and-productfy-enter-partnership-offer-single-technology-platform-early-stage )

Restraint Factors Of FinTech Market

Issues Related to Data Privacy and Security Concerns to Restrict Market Growth

One significant restraint in the fintech market is the pervasive concern surrounding data privacy and security. The increasing reliance on digital financial services has escalated the risk of data breaches, identity theft, and unauthorized access to sensitive information. Regulatory compliance and adherence to stringent data protection laws pose challenges for fintech firms, impacting consumer trust and hindering the widespread adoption of innovative financial technologies.

Impact of COVID-19 on the FinTech Market

The fintech market, encompassing innovative financial technologies and services, has accelerated growth amid the COVID-19 pandemic. With social distancing measures and a shift towards digitalization, consumers and businesses increasingly rely on fintech solutions for online banking, digital payments, and remote financial management. This surge in demand underscores the sector's resilience and adaptability as fintech firms continue to drive financial inclusi...

The global investment in fintech companies experienced a significant decline in 2024, with all observed regions showing decreased investment activity. The Americas maintained its position as the primary hub for fintech investment, attracting 63.8 billion U.S. dollars. Investments in the EMEA (Europe, Middle East, and Africa) region totaled 20.3 billion U.S. dollars, while the Asia-Pacific region received 11.4 billion U.S. dollars in fintech funding. The global fintech investment activity reached in 2024 its lowest point since 2017. Quarterly trends reveal ongoing challenges The downward trajectory in fintech investments became apparent in early 2022 and continued throughout 2023. By the fourth quarter of 2023, global fintech funding had dwindled to 26.9 billion U.S. dollars, a far cry from the peak of nearly 145 billion U.S. dollars seen in the third quarter of 2019. Despite the overall decline, several fintech segments experienced increasing investment activity, with payments, regtech, and wealthtech seeing the sharpest increases. Venture capital feels the pinch The fintech investment landscape in 2024 was dominated by M&A deals, which accounted for 49.6 billion U.S. dollars of funding. Venture capital investments, while still substantial at 43.4 billion U.S. dollars, saw a marked decrease from almost 90 billion U.S. dollars in 2022. This decline was not only in value but also in the number of investment deals, which fell from 6,968 to 3,856. Despite the challenges, the fintech sector continues to evolve, with companies like Stripe leading the U.S. market with a valuation of 65 billion U.S. dollars, underscoring the enduring potential of innovative financial technologies.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

National coverage

Analysis unit

Individuals

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world's population (see Table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

The sample size was 1600.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank

Snapshot img

Fintech Market Size 2025-2029

The fintech market size is forecast to increase by USD 813.5 billion at a CAGR of 32.5% between 2024 and 2029.

The market is experiencing significant growth and transformation, driven by the increasing influence of digitalization and the adoption of innovative technologies such as artificial intelligence, machine learning, and blockchain. The market is projected to continue its upward trajectory, with key trends including the rise of digital payments, mobile banking, and robo-advisory services. However, the market is not without challenges, as privacy and security concerns continue to mount in the wake of high-profile data breaches. Companies seeking to capitalize on market opportunities and navigate these challenges effectively must prioritize cybersecurity measures and transparent data handling practices. Additionally, collaboration between traditional financial institutions and fintech startups is becoming increasingly important, as each brings unique strengths to the table. Overall, the fintech landscape is characterized by rapid innovation, intense competition, and a shifting regulatory environment, making it a dynamic and exciting space for strategic business decisions and operational planning.

What will be the Size of the Fintech Market during the forecast period?

Request Free SampleThe market, characterized by the fusion of financial services and advanced technologies, has experienced remarkable growth and transformation in recent years. Traditional financial methods are being supplanted by more convenient, transparent, and value-added services. Artificial intelligence (AI) and data analytics are driving innovation, enabling personalized financial decision-making based on online buying habits, social media habits, and credit scores. Blockchain technology offers increased security and transparency for financial transactions. However, this digital shift also presents challenges, including data privacy and security concerns. Fintech firms must prioritize data privacy and security to mitigate risks of sensitive information loss or malware injection. Financial bodies continue to monitor the sector closely, ensuring regulatory compliance and consumer protection. Overall, the market is poised for continued expansion, offering significant opportunities for innovation and disruption in the financial services landscape.

How is this Fintech Industry segmented?

The fintech industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. DeploymentOn-premisesCloudEnd-userBankingInsuranceSecuritiesOthersApplicationFraud monitoringKYC verificationCompliance and regulatory supportGeographyAPACChinaIndiaJapanNorth AmericaUSCanadaEuropeFranceGermanyItalyUKSouth AmericaBrazilMiddle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period.The market encompasses advanced technologies such as artificial intelligence (AI), blockchain, and data analytics to provide convenient and transparent financial services. Traditional financial methods are increasingly being replaced by these innovative solutions, offering value-added services and improved financial decision-making. Fintech firms leverage AI-powered chatbots and virtual assistants for fraud monitoring and customer support, while blockchain technology ensures secure, decentralized transactions. However, with the increasing digitization of financial records, sensitive information is at risk from data loss, malware injection, account hacking, and cloud service abuse. Deployment modes, including on-premise and cloud computing, present unique security concerns. While on-premises deployments offer greater control and security, cloud-based models enable scalability and flexibility. As fintech investments continue to grow, it is crucial to prioritize data privacy and security to mitigate risks and build trust with consumers.

Get a glance at the market report of share of various segments Request Free Sample

The On-premises segment was valued at USD 58.40 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 38% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The Asia-Pacific (APAC) the market is experiencing significant growth due to the region's vast potential and the rapid adoption of advanced technologies like blockchain and artificial intelligence (AI) in various industries. Small and medium-sized enterpris

Global fintech investments experienced a substantial increase from 2010 to 2019, reaching their highest point at 216.8 billion U.S. dollars. In 2020, investments fell sharply to under 124 billion U.S. dollars, before recovering strongly in 2021 to exceed 239 billion U.S. dollars. Following this 2021 peak, fintech investment levels declined significantly, with 2024 recording the lowest investment value since 2017. Throughout these fluctuations, the Americas consistently attracted the majority of investments, representing over half of the total global investment volume. Fintech revolution: North America lead the charge Fintech refers to innovative startups in the financial sector that leverage modern technology to revolutionize financial services. These companies develop digitally enhanced products, offering widespread access to financial services at lower costs compared to traditional institutions. Their solutions often improve efficiency, accessibility, and user experience in various financial operations. As of 2024, the North America led the global fintech landscape with over 12,000 fintech businesses, establishing the region as the world's premier hub for financial technology innovation. Which is the largest fintech unicorn in the U.S.? In 2024, Stripe, a San Francisco-based payment processing services company, led the U.S. fintech unicorn sector with a valuation of 65 billion U.S. dollars. This positioned Stripe as the most valuable fintech company in the United States. Following Stripe was Chime, another significant player in the fintech space, valued at 25 billion U.S. dollars. The substantial valuations of these companies underscore the growing importance and financial clout of innovative payment and banking solutions in the U.S. financial technology landscape.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

See Methodology document for country-specific geographic coverage details.

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world’s population (see Table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer’s gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

Mode of data collection

Other [oth]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank

In a 2018 survey, 21 percent of the American FinTech application users said that they were very uncomfortable sharing data containing their bank account balances and transaction history. As for sharing loan or investment information and history, 16 percent of users said they were very uncomfortable agreeing to that.

This statistic shows the estimated employment figures in FinTech and big-data sectors in selected locations in the United States and the United Kingdom as of May 2014. In that time, the United States offered 200 thousand Fintech jobs and 588 thousand big-data jobs. In London (50 mile area), there were 51 thousand people employed in the Fintech companies in 2014.

Fintech refers to any technological innovation in the financial sector, e.g. cryptocurrency, mobile banking etc. However, it still remains relatively unknown among U.S. consumers.

Indonesia Number of Fintech Establishments: Conventional: Registered data was reported at 116.000 Unit in Jul 2020. This stayed constant from the previous number of 116.000 Unit for Jun 2020. Indonesia Number of Fintech Establishments: Conventional: Registered data is updated monthly, averaging 122.000 Unit from Oct 2019 (Median) to Jul 2020, with 10 observations. The data reached an all-time high of 128.000 Unit in Jan 2020 and a record low of 116.000 Unit in Jul 2020. Indonesia Number of Fintech Establishments: Conventional: Registered data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Banking Sector – Table ID.KBA003: Number of Fintech Establishments.

Indonesia Number of Fintech Establishments data was reported at 158.000 Unit in Jul 2020. This stayed constant from the previous number of 158.000 Unit for Jun 2020. Indonesia Number of Fintech Establishments data is updated monthly, averaging 161.000 Unit from Oct 2019 (Median) to Jul 2020, with 10 observations. The data reached an all-time high of 164.000 Unit in Jan 2020 and a record low of 144.000 Unit in Nov 2019. Indonesia Number of Fintech Establishments data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Banking Sector – Table ID.KBA003: Number of Fintech Establishments.

Indonesia Number of Fintech Establishments: Sharia: Registered data was reported at 9.000 Unit in Jul 2020. This stayed constant from the previous number of 9.000 Unit for Jun 2020. Indonesia Number of Fintech Establishments: Sharia: Registered data is updated monthly, averaging 11.000 Unit from Oct 2019 (Median) to Jul 2020, with 10 observations. The data reached an all-time high of 12.000 Unit in Nov 2019 and a record low of 9.000 Unit in Jul 2020. Indonesia Number of Fintech Establishments: Sharia: Registered data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Banking Sector – Table ID.KBA003: Number of Fintech Establishments.

Between 2008 and 2024, the most significant data breach in the financial industry worldwide was detected in 2019 in the United States at the First American Financial Corporation. This data breach caused the leakage of 885 million financial and personal records. The financial industry is one of the most targeted sectors by cyberattacks that lead to data breaches. However, cyber-attacks are not the only reason for a data breach. Sometimes data compromise occurs due to other reasons, such as system errors.

As of September 2023, the Argentine fintech platform Ualá had attracted investments for 544 million U.S. dollars. Brubank, a challenger bank headquartered in Buenos Aires, accumulated 12.8 million dollars in investments, whereas Moni, an online microfinance service provider, had raised 5.5 million dollars.

In 2023, the number of data compromises in the financial services industry in the United States reached 744, up from 138 such incidents in 2020. The financial services sector was the second-most targeted industry by cyber security incidents resulting in data compromise. The number of data compromises includes data breaches, as well as exposure and leakage of private data.

In order to foster a modern economic system and facilitate high-quality economic development, it is crucial to establish a conducive business environment. Undoubtedly, the evaluation of the business environment for enterprises constitutes a prominent area of research. Nevertheless, ensuring the authenticity and security of the raw data sources provided by participating enterprises poses a challenge, thereby compromising the accuracy of the evaluation. To tackle this issue, an enterprise composite blockchain construction method for business environment is proposed in this paper, which stores the raw data of enterprises by the means of hybrid on-chain and off-chain. Initially, the enhanced hash function SHA256 is introduced to encrypt the raw data of enterprises. The encrypted data is subsequently stored in an off-chain Level DB database, which is based on non-volatile memory. This approach effectively alleviates the burden on communication and storage. Secondly, a composite storage strategy on-chain is adopted: the key values from the Level DB are stored in the DAG-based Conflux public blockchain, while the enterprise state data is stored in the consortium blockchain, so as to provide trusted evidence of business environment evaluation data. Finally, it is demonstrated through a large number of experimental comparisons that the enterprise composite blockchain construction method proposed in this paper exhibits better read and write performance, lower storage efficiency and storage overhead, and outperforms both the before-improved Level DB database and existing blockchain storage models.

Success.ai’s B2B Email Data for US Financial Services offers businesses comprehensive access to verified email addresses and contact details of key decision-makers across the financial services industry in the United States.

Sourced from over 170 million verified professional profiles and enriched with detailed firmographic data, this dataset is ideal for sales teams, marketers, and strategic planners looking to engage with banking executives, wealth managers, insurance specialists, and fintech leaders.

Backed by our Best Price Guarantee, Success.ai ensures that your outreach is guided by accurate, continuously updated, and AI-validated data.

Why Choose Success.ai’s Financial Services Email Data?

1. Verified B2B Email Data for Precision Outreach

   • Access verified work emails of decision-makers in banking, insurance, wealth management, investment firms, and fintech startups.
   • AI-driven validation ensures 99% accuracy, reducing bounce rates and ensuring high deliverability for your campaigns.

2. Focus on the US Financial Market

   • Includes profiles of professionals across major US financial hubs like New York, Chicago, San Francisco, and Miami, as well as regional banks, credit unions, and fintech disruptors.
   • Gain insights into industry trends, regulatory impacts, and market dynamics specific to the US financial ecosystem.

3. Continuously Updated Datasets

   • Real-time updates ensure that your data remains relevant, reflecting leadership changes, mergers, acquisitions, and new market entrants.
   • Stay aligned with evolving industry demands and customer needs.

4. Ethical and Compliant

   • Adheres to GDPR, CCPA, and other global data privacy regulations, ensuring responsible data usage and legal compliance for your campaigns.

Data Highlights:

• 170M+ Verified Professional Profiles: Engage with executives, financial advisors, compliance officers, and analysts across the US financial services sector.
• 50M Work Emails: AI-validated email data ensures precise communication and minimized email bounce rates.
• Firmographic Insights: Understand company sizes, revenue ranges, service offerings, and geographic presence to refine your targeting strategies.
• Decision-Maker Contact Details: Connect directly with key influencers and leaders shaping the US financial landscape.

Key Features of the Dataset:

1. Decision-Maker Email Profiles

   • Identify and engage with CEOs, CFOs, financial planners, compliance managers, and marketing directors responsible for driving financial strategies and regulatory compliance.
   • Target professionals overseeing technology adoption, customer engagement, and portfolio growth.

2. Advanced Filters for Tailored Campaigns

   • Filter contacts by industry segment (banking, insurance, investment management), company size, geographic location, or revenue bracket.
   • Tailor outreach efforts to align with specific financial services challenges, regulatory pressures, or customer preferences.

3. AI-Driven Enrichment

   • Profiles enriched with actionable data provide deeper insights, enabling personalized messaging and improving engagement outcomes with financial services stakeholders.

Strategic Use Cases:

1. Sales and Lead Generation

   • Offer SaaS solutions, compliance tools, or digital transformation services to financial services providers aiming to modernize operations and enhance customer experiences.
   • Build relationships with decision-makers in charge of vendor selection, procurement, and operational strategies.

2. Marketing and Outreach Campaigns

   • Target marketing teams and customer experience professionals to promote data-driven marketing tools, CRM platforms, or loyalty programs tailored to financial clients.
   • Leverage verified email data for multi-channel campaigns, driving higher engagement rates and conversions.

3. Fintech and Innovation Partnerships

   • Engage with fintech executives and banking leaders exploring digital payments, blockchain, AI-driven financial products, or open banking solutions.
   • Foster partnerships that accelerate innovation and enhance competitive positioning.

4. Regulatory Compliance and Risk Management

   • Connect with compliance officers and risk managers to present regulatory reporting tools, fraud detection systems, or cybersecurity solutions.
   • Address key pain points related to evolving compliance requirements and risk mitigation.

Why Choose Success.ai?

1. Best Price Guarantee

   • Access premium-quality B2B email data at competitive rates, ensuring maximum ROI for your outreach, marketing, and sales campaigns in the US financial sector.

2. Seamless Integration

   • Incorporate verified email data into CRM systems or marketing automation platforms via APIs or downloadable formats, streamlining data management and campaign execution.

3. Data Accuracy with AI Validation
   ...

According to Cognitive Market Research, the global Financial Data Service market size will be USD 24152.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 9661.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 7245.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5555.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1207.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 483.05 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Datafeed/API solutions are the dominant segment, as they allow seamless data integration into existing systems and platforms, making them ideal for companies requiring real-time data across multiple applications

Market Dynamics of Financial Data Service Market

Key Drivers for Financial Data Service Market

Increased Data-Driven Decision-Making to Boost Market Growth

As digital transformation sweeps through financial services, data-driven decision-making has become essential for businesses to remain competitive. Institutions, both financial and non-financial, are increasingly leveraging financial data to guide strategic investments, manage risks, and streamline operations. By utilizing real-time data and predictive analytics, companies gain actionable insights to optimize their investment portfolios and financial planning. With the enhanced capability to analyze data trends and assess market scenarios, businesses can mitigate risks more effectively, making this driver critical to the growth of the financial data service market. For instance, in September 2022, Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group launched a comprehensive suite of Alibaba Cloud for Financial Services solutions. Comprising over 70 products, these solutions are designed to help financial services institutions of all sizes across banking, FinTech, insurance, and securities, digitalize their operations

Advancements in Analytics Technology to Drive Market Growth

The integration of advanced analytics technologies like artificial intelligence (AI) and machine learning (ML) in financial data services has significantly enhanced the accuracy and scope of market insights. AI and ML enable companies to process vast amounts of financial data, identify patterns, and make predictions, thus facilitating strategic planning and investment optimization. These technologies also allow for real-time insights, giving firms a competitive advantage in rapidly evolving markets. With continuous improvements in AI and ML, the demand for advanced data services is expected to grow, positioning this as a key driver of market expansion.

Restraint Factor for the Financial Data Service Market

High Cost of Data Services, will Limit Market Growth

The high cost associated with premium financial data services is a significant restraint, particularly for small and medium-sized enterprises (SMEs). Many advanced platforms and data feeds come with substantial subscription fees, limiting their accessibility to larger organizations with more considerable budgets. This cost barrier restricts smaller firms from fully integrating advanced data insights into their operations. As a result, high subscription costs prevent widespread adoption among SMEs, hindering the financial data service market’s overall growth potential.

Impact of Covid-19 on the Financial Data Service Market

Covid-19 significantly impacted the Financial Data Service Market as companies increasingly relied on accurate data analytics for rapid decision-making amid market volatility. During the pandemic, financial data providers observed heightened demand for real-time and historical data to model economic scenarios and assess risks accurately. This shift spurred technological advancements a...

Indonesia Fintech Asset: Conventional: Registered data was reported at 1,227.118 IDR bn in Jul 2020. This records a decrease from the previous number of 1,348.849 IDR bn for Jun 2020. Indonesia Fintech Asset: Conventional: Registered data is updated monthly, averaging 1,369.046 IDR bn from Oct 2019 (Median) to Jul 2020, with 10 observations. The data reached an all-time high of 1,647.318 IDR bn in Apr 2020 and a record low of 1,069.013 IDR bn in Dec 2019. Indonesia Fintech Asset: Conventional: Registered data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Banking Sector – Table ID.KBA001: Fintech Asset.

Indonesia Accumulated Total of Lender Transactions by Residence of Lender: Overseas data was reported at 124,852,663.000 Unit in Nov 2024. This records an increase from the previous number of 122,076,336.000 Unit for Oct 2024. Indonesia Accumulated Total of Lender Transactions by Residence of Lender: Overseas data is updated monthly, averaging 87,610,272.000 Unit from Jan 2021 (Median) to Nov 2024, with 47 observations. The data reached an all-time high of 124,852,663.000 Unit in Nov 2024 and a record low of 37,229,796.000 Unit in Jan 2021. Indonesia Accumulated Total of Lender Transactions by Residence of Lender: Overseas data remains active status in CEIC and is reported by Bank Indonesia. The data is categorized under Indonesia Premium Database’s Monetary – Table ID.KAI026: Financial System Statistics: Fintech Indicator: Peer-to-Peer Lending.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

National coverage

Analysis unit

Individuals

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world's population (see Table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer's gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

The sample size was 1000.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank