Unveiling: Dynamic Fintech Industry Surges, Empowered by Consumer Demand

January 18, 2024
1 min read

A new report from the World Economic Forum reveals that the global fintech industry is resilient and continuing to grow, driven by consumer demand. The report, developed in collaboration with the Cambridge Centre for Alternative Finance, surveyed over 200 fintech companies across five industry verticals and six regions to understand the state of the fintech ecosystem. The majority of fintech companies surveyed hold a positive view of their regulatory environment, with 63% rating it as adequate. However, many fintechs also find regulatory compliance and licensing processes challenging, indicating room for improvement. The report highlights the importance of expanding financial services to underserved populations and offers recommendations for responsible growth of the industry.

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