GITNUXREPORT 2025

Digital Transformation In The Fintech Industry Statistics

Digital transformation fuels fintech growth, enhancing efficiency, security, and consumer trust.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

65% of consumers prefer digital banking channels over physical branches

Statistic 2

Mobile payments are used by 52% of consumers in developed markets, and this number is expected to reach 70% by 2025

Statistic 3

Digital-only banks now hold approximately 20% of the retail banking market share globally

Statistic 4

60% of consumers would switch to a fully digital bank if offered better rates and services

Statistic 5

The use of biometric authentication in fintech apps increased by 120% from 2019 to 2023

Statistic 6

37% of consumers are willing to try new digital financial products offered by fintech firms

Statistic 7

Digital wallets penetration in Asia reached 64% in 2023 and is expected to grow

Statistic 8

68% of consumers worldwide are more likely to trust digital-only financial services over traditional banks

Statistic 9

Customer retention rates are 25% higher for fintech firms employing personalized digital experiences

Statistic 10

67% of banking clients prefer digital channels for at least one banking service, indicating widespread digital adoption

Statistic 11

65% of consumers who use digital wallets also use contactless payment methods regularly, highlighting integrated payment behaviors

Statistic 12

55% of consumers have adopted mobile banking apps due to enhanced digital security features, leading to increased trust

Statistic 13

58% of consumers who started using digital banking services during the pandemic maintained their usage month-over-month, demonstrating long-term adoption habits

Statistic 14

The average transaction value in digital remittances increased by 40% from 2019 to 2023, indicating trust and increased usage

Statistic 15

78% of fintech firms reported increased revenue as a direct result of digital transformation initiatives

Statistic 16

The global fintech market is projected to reach $324 billion by 2026, growing at a CAGR of 20.3%

Statistic 17

The adoption rate of blockchain technology in financial services increased by 80% between 2018 and 2022

Statistic 18

71% of fintech startups plan to invest heavily in AI and machine learning in the next two years

Statistic 19

Global investments in fintech startups reached $80 billion in 2022, marking a 15% increase from the previous year

Statistic 20

The use of robo-advisors has increased by 45% in the past three years, with assets under management surpassing $2.4 trillion globally

Statistic 21

Blockchain-based payments increased by 60% in 2022, reflecting growing acceptance in mainstream financial transactions

Statistic 22

55% of fintech startups generate revenue from subscription-based models, indicating a shift towards recurring revenue streams

Statistic 23

Insurance fintech (Insurtech) investments reached $9 billion globally in 2022, a 35% increase from 2021

Statistic 24

In South America, digital banking penetration grew by 38% in 2022, driven largely by fintech innovations

Statistic 25

Fintech collaborations with major banks increased by 50% from 2018 to 2023, highlighting a strategic pivot towards partnership models

Statistic 26

Digital remittances via fintech platforms grew by 45% in 2022, facilitating faster cross-border transactions

Statistic 27

The number of digital-only bank accounts worldwide exceeded 250 million in 2023, up 32% from 2020

Statistic 28

Cryptocurrency payment acceptance by retail merchants increased by 150% from 2019 to 2023, reflecting growing mainstream acceptance

Statistic 29

The average age of fintech startup founders decreased from 42 to 36 between 2018 and 2023, indicating rising youth engagement in financial technology innovation

Statistic 30

72% of financial institutions worldwide plan to increase their investment in AI-driven fraud detection in the next two years, aiming to reduce financial crime

Statistic 31

The global market for AI in financial services is expected to reach $42 billion by 2027, growing at a CAGR of 35%

Statistic 32

80% of fintech investors consider digital transformation a key driver of startup valuation, indicating importance in funding decisions

Statistic 33

Fintech startups focusing on Neobanking attracted over $10 billion in funding during 2022 alone, a 25% increase compared to 2021

Statistic 34

54% of traditional financial institutions have accelerated their digital transformation efforts due to the COVID-19 pandemic

Statistic 35

90% of fintech firms report improved operational efficiency after implementing digital solutions

Statistic 36

Customer onboarding time has decreased by 50% due to digital identity verification tools

Statistic 37

55% of fintech firms utilize cloud computing to scale their operations efficiently

Statistic 38

48% of fintech firms report reducing operational costs by automating back-office processes

Statistic 39

Digital transformation has led to a 40% decrease in the cost-to-income ratio for leading fintech companies

Statistic 40

85% of fintech startups report that agile development methodologies are critical to their digital transformation success

Statistic 41

AI-driven chatbots handled over 60% of customer inquiries in fintech apps by 2023, improving customer service efficiency

Statistic 42

40% of fintech firms have adopted DevOps practices to speed up deployment cycles, enhancing their ability to innovate quickly

Statistic 43

63% of small and medium-sized enterprises prefer working with fintechs that employ digital-first solutions for faster service delivery

Statistic 44

57% of fintech firms have adopted agile methodologies to accelerate product development cycles, reducing time-to-market

Statistic 45

45% of financial institutions considered cybersecurity a top priority during digital transformation

Statistic 46

Digital identity verification solutions are used by 70% of fintech firms to comply with KYC and AML regulations, streamlining onboarding processes

Statistic 47

80% of financial institutions believe that integrating blockchain can improve transparency and reduce fraud, sourcing from industry surveys

Statistic 48

82% of fintech companies consider data analytics a core part of their digital transformation strategy

Statistic 49

Over 60% of fintech companies plan to leverage open banking APIs in the next 12 months

Statistic 50

70% of financial institutions believe that AI-driven customer insights will be critical to their competitive advantage in the next five years

Statistic 51

Over 80% of fintech firms plan to adopt AI and machine learning technologies within the next two years

Statistic 52

Fintech companies utilizing machine learning for credit scoring improved lending approval accuracy by 30%, reducing default rates

Statistic 53

Over 70% of fintech startups plan to implement open banking to expand their services, fostering innovation and competition

Statistic 54

50% of fintech firms utilize API marketplaces to accelerate product development, enabling easier integration

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Sources

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Key Highlights

78% of fintech firms reported increased revenue as a direct result of digital transformation initiatives
The global fintech market is projected to reach $324 billion by 2026, growing at a CAGR of 20.3%
65% of consumers prefer digital banking channels over physical branches
82% of fintech companies consider data analytics a core part of their digital transformation strategy
54% of traditional financial institutions have accelerated their digital transformation efforts due to the COVID-19 pandemic
Mobile payments are used by 52% of consumers in developed markets, and this number is expected to reach 70% by 2025
The adoption rate of blockchain technology in financial services increased by 80% between 2018 and 2022
71% of fintech startups plan to invest heavily in AI and machine learning in the next two years
Digital-only banks now hold approximately 20% of the retail banking market share globally
60% of consumers would switch to a fully digital bank if offered better rates and services
Global investments in fintech startups reached $80 billion in 2022, marking a 15% increase from the previous year
45% of financial institutions considered cybersecurity a top priority during digital transformation
90% of fintech firms report improved operational efficiency after implementing digital solutions

Digital transformation is revolutionizing the fintech industry at an unprecedented pace, with 78% of firms experiencing increased revenue and the global market projected to hit $324 billion by 2026.

Consumer Adoption and Preferences

65% of consumers prefer digital banking channels over physical branches
Mobile payments are used by 52% of consumers in developed markets, and this number is expected to reach 70% by 2025
Digital-only banks now hold approximately 20% of the retail banking market share globally
60% of consumers would switch to a fully digital bank if offered better rates and services
The use of biometric authentication in fintech apps increased by 120% from 2019 to 2023
37% of consumers are willing to try new digital financial products offered by fintech firms
Digital wallets penetration in Asia reached 64% in 2023 and is expected to grow
68% of consumers worldwide are more likely to trust digital-only financial services over traditional banks
Customer retention rates are 25% higher for fintech firms employing personalized digital experiences
67% of banking clients prefer digital channels for at least one banking service, indicating widespread digital adoption
65% of consumers who use digital wallets also use contactless payment methods regularly, highlighting integrated payment behaviors
55% of consumers have adopted mobile banking apps due to enhanced digital security features, leading to increased trust
58% of consumers who started using digital banking services during the pandemic maintained their usage month-over-month, demonstrating long-term adoption habits
The average transaction value in digital remittances increased by 40% from 2019 to 2023, indicating trust and increased usage

Consumer Adoption and Preferences Interpretation

As fintech continues its rapid ascent—with 65% of consumers favoring digital channels and a substantial shift toward mobile payments, biometric security surges, and digital-only banks claiming a significant slice of the market—it's clear that in the race for financial relevance, traditional brick-and-mortar institutions might soon find themselves outpaced by the digitally dedicated, whose trust, loyalty, and wallet are increasingly digital, secure, and personalized.

Market Growth and Investment Trends

78% of fintech firms reported increased revenue as a direct result of digital transformation initiatives
The global fintech market is projected to reach $324 billion by 2026, growing at a CAGR of 20.3%
The adoption rate of blockchain technology in financial services increased by 80% between 2018 and 2022
71% of fintech startups plan to invest heavily in AI and machine learning in the next two years
Global investments in fintech startups reached $80 billion in 2022, marking a 15% increase from the previous year
The use of robo-advisors has increased by 45% in the past three years, with assets under management surpassing $2.4 trillion globally
Blockchain-based payments increased by 60% in 2022, reflecting growing acceptance in mainstream financial transactions
55% of fintech startups generate revenue from subscription-based models, indicating a shift towards recurring revenue streams
Insurance fintech (Insurtech) investments reached $9 billion globally in 2022, a 35% increase from 2021
In South America, digital banking penetration grew by 38% in 2022, driven largely by fintech innovations
Fintech collaborations with major banks increased by 50% from 2018 to 2023, highlighting a strategic pivot towards partnership models
Digital remittances via fintech platforms grew by 45% in 2022, facilitating faster cross-border transactions
The number of digital-only bank accounts worldwide exceeded 250 million in 2023, up 32% from 2020
Cryptocurrency payment acceptance by retail merchants increased by 150% from 2019 to 2023, reflecting growing mainstream acceptance
The average age of fintech startup founders decreased from 42 to 36 between 2018 and 2023, indicating rising youth engagement in financial technology innovation
72% of financial institutions worldwide plan to increase their investment in AI-driven fraud detection in the next two years, aiming to reduce financial crime
The global market for AI in financial services is expected to reach $42 billion by 2027, growing at a CAGR of 35%
80% of fintech investors consider digital transformation a key driver of startup valuation, indicating importance in funding decisions
Fintech startups focusing on Neobanking attracted over $10 billion in funding during 2022 alone, a 25% increase compared to 2021

Market Growth and Investment Trends Interpretation

As fintech swiftly morphs into a $324 billion industry powered by 80% blockchain adoption, AI investments, and a youthful surge of founders, it's clear that digital transformation isn't just reshaping finance—it's rewriting the rules of the game for both startups and stalwart institutions aiming to stay relevant in the age of tech-driven banking.

Operational Improvements and Efficiency

54% of traditional financial institutions have accelerated their digital transformation efforts due to the COVID-19 pandemic
90% of fintech firms report improved operational efficiency after implementing digital solutions
Customer onboarding time has decreased by 50% due to digital identity verification tools
55% of fintech firms utilize cloud computing to scale their operations efficiently
48% of fintech firms report reducing operational costs by automating back-office processes
Digital transformation has led to a 40% decrease in the cost-to-income ratio for leading fintech companies
85% of fintech startups report that agile development methodologies are critical to their digital transformation success
AI-driven chatbots handled over 60% of customer inquiries in fintech apps by 2023, improving customer service efficiency
40% of fintech firms have adopted DevOps practices to speed up deployment cycles, enhancing their ability to innovate quickly
63% of small and medium-sized enterprises prefer working with fintechs that employ digital-first solutions for faster service delivery
57% of fintech firms have adopted agile methodologies to accelerate product development cycles, reducing time-to-market

Operational Improvements and Efficiency Interpretation

As the fintech industry swiftly digitizes in response to pandemic pressures, it's clear that embracing cloud, AI, and agile practices isn't just a technological upgrade—it's a strategic mandate that transforms traditional finance into a lean, customer-centric innovation machine.

Security, Compliance, and Risk Management

45% of financial institutions considered cybersecurity a top priority during digital transformation
Digital identity verification solutions are used by 70% of fintech firms to comply with KYC and AML regulations, streamlining onboarding processes
80% of financial institutions believe that integrating blockchain can improve transparency and reduce fraud, sourcing from industry surveys

Security, Compliance, and Risk Management Interpretation

As the fintech industry races to modernize, nearly half see cybersecurity as a top priority, while a 70% adoption of digital identity verification and 80% touting blockchain for transparency underscore a battle between innovation and security in building trust.

Technological Innovations and Adoption

82% of fintech companies consider data analytics a core part of their digital transformation strategy
Over 60% of fintech companies plan to leverage open banking APIs in the next 12 months
70% of financial institutions believe that AI-driven customer insights will be critical to their competitive advantage in the next five years
Over 80% of fintech firms plan to adopt AI and machine learning technologies within the next two years
Fintech companies utilizing machine learning for credit scoring improved lending approval accuracy by 30%, reducing default rates
Over 70% of fintech startups plan to implement open banking to expand their services, fostering innovation and competition
50% of fintech firms utilize API marketplaces to accelerate product development, enabling easier integration

Technological Innovations and Adoption Interpretation

With over 80% of fintech firms rushing to harness AI, open banking, and data analytics, it's clear that in the race for financial innovation, those who embrace digital transformation will not just survive but redefine the future of banking.