GITNUXREPORT 2025

Financial Industry Statistics

Financial industry embraces digital growth, AI, blockchain, and evolving customer preferences.

Jannik Linder

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

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

Approximately 77% of bank customers use online banking

Statistic 2

78% of consumers say they are willing to use financial technology services for banking, investing, or insurance

Statistic 3

45% of banking customers would switch to a new bank for better digital experiences

Statistic 4

The average cost to banks for onboarding a new customer is about $200-$300

Statistic 5

Over 50% of millennials prefer to use digital wallets over traditional banking apps

Statistic 6

The average age of a new bank account holder is 34 years old globally, indicating a younger demographic entering banking sectors

Statistic 7

Approximately 90% of consumer data used in financial services is generated through digital channels

Statistic 8

Over 45% of consumers trust digital-only banks more than traditional banks

Statistic 9

55% of retail banking customers use AI-powered chatbots for inquiries and assistance

Statistic 10

Approximately 60% of millennials plan to retire later than previous generations due to financial insecurity

Statistic 11

35% of insurance companies report using big data analytics to personalize customer offerings

Statistic 12

The percentage of financial transactions completed via biometric authentication is projected to reach 25% by 2026

Statistic 13

56% of financial decision-makers see cybersecurity threats as a top concern

Statistic 14

Over 80% of financial institutions use some form of cloud computing

Statistic 15

Financial fraud losses worldwide are estimated at $5 trillion annually

Statistic 16

The average cost for financial institutions to comply with AML (Anti-Money Laundering) regulations is around $1.2 million annually per institution

Statistic 17

Only about 40% of insurance companies have fully integrated digital transformation strategies

Statistic 18

Over 90% of banking cybersecurity breaches involve phishing attacks

Statistic 19

The global digital payments market size is valued at $4.1 trillion in 2023

Statistic 20

The number of mobile banking users worldwide exceeded 1.96 billion in 2023

Statistic 21

The number of active mobile payment users globally is projected to reach 1.31 billion by 2025

Statistic 22

The annual global payments volume processed via digital channels is forecast to reach $9.3 trillion by 2025

Statistic 23

Around 35% of banks plan to completely digitize their retail banking operations within the next five years

Statistic 24

The percentage of financial transactions processed via blockchain is expected to reach 10% globally by 2027

Statistic 25

Globally, the number of active credit cards exceeded 22 billion in 2023

Statistic 26

The global financial services market is projected to reach $26.5 trillion by 2027

Statistic 27

The total assets under management (AUM) in the global funds industry reached $115 trillion in 2022

Statistic 28

The global cryptocurrency market cap surpassed $2 trillion in 2023

Statistic 29

The number of underbanked adults globally decreased by 11 percentage points since 2011, now standing at 24% of adults

Statistic 30

The global robo-advisors AUM reached $2.7 trillion in 2023

Statistic 31

The US retail banking industry generated $137 billion in revenue in 2022

Statistic 32

The average profit margin for retail banks in the US is around 15%

Statistic 33

The global impact of financial crises is estimated to cause $4 trillion in economic damage per event

Statistic 34

The global insurance industry’s revenue reached approximately $4.9 trillion in 2022

Statistic 35

The average annual salary for financial analysts worldwide is approximately $63,000

Statistic 36

The total value of assets held in central bank reserves worldwide is over $14 trillion

Statistic 37

The number of negative financial news articles published daily has increased by 30% over the last five years, affecting market volatility

Statistic 38

The global alternative investments market size is projected to reach $15 trillion by 2027

Statistic 39

The average credit card interest rate globally is around 20%, varying significantly by region

Statistic 40

The total value of financial derivatives traded globally exceeded $550 trillion in 2022

Statistic 41

The fintech industry is expected to grow at a CAGR of 23.84% from 2023 to 2028

Statistic 42

Around 68% of financial institutions plan to increase their investments in AI in the next two years

Statistic 43

Nearly 40% of financial firms have adopted blockchain technology for various applications

Statistic 44

The average return on investment (ROI) for RPA (Robotic Process Automation) in banking is approximately 200%

Statistic 45

Nearly 65% of financial services firms have implemented or are planning to implement machine learning solutions

Statistic 46

60% of financial institution executives believe that AI will significantly impact retail banking within the next five years

Statistic 47

The adoption rate of open banking APIs in Europe is about 60%

Statistic 48

The global peer-to-peer lending market was valued at approximately $90 billion in 2023

Statistic 49

The total number of financial service jobs worldwide is estimated to be over 20 million

Statistic 50

Over 70% of banks worldwide report investing in AI and machine learning to improve operational efficiency

Statistic 51

The total number of fintech startups worldwide exceeded 26,000 in 2023

Statistic 52

The number of financial technology patents filed increased by 25% between 2018 and 2022

Statistic 53

The number of new fintech unicorns reached 17 in 2023, up from 9 in 2021

Statistic 54

70% of small business owners in the US rely on financial technology tools for their banking needs

Statistic 55

The global market for credit scoring is expected to grow at a CAGR of 11% from 2023 to 2030

Statistic 56

65% of banks worldwide are actively exploring digital currencies or CBDCs

Statistic 57

The number of people using micro-investment platforms globally surpassed 50 million in 2023

Statistic 58

79% of banking executives see digital transformation as a key driver for future growth

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Sources

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Key Highlights

The global financial services market is projected to reach $26.5 trillion by 2027
Approximately 77% of bank customers use online banking
The fintech industry is expected to grow at a CAGR of 23.84% from 2023 to 2028
78% of consumers say they are willing to use financial technology services for banking, investing, or insurance
The global digital payments market size is valued at $4.1 trillion in 2023
Around 68% of financial institutions plan to increase their investments in AI in the next two years
The total assets under management (AUM) in the global funds industry reached $115 trillion in 2022
45% of banking customers would switch to a new bank for better digital experiences
The number of mobile banking users worldwide exceeded 1.96 billion in 2023
The average cost to banks for onboarding a new customer is about $200-$300
The global cryptocurrency market cap surpassed $2 trillion in 2023
Nearly 40% of financial firms have adopted blockchain technology for various applications
56% of financial decision-makers see cybersecurity threats as a top concern

The financial industry is undergoing a seismic shift, with the global market projected to hit $26.5 trillion by 2027, fueled by rapid digital adoption, booming fintech innovation, and emerging technologies like AI, blockchain, and digital payments transforming how we save, invest, and transact.

Customer Behavior and Preferences

Approximately 77% of bank customers use online banking
78% of consumers say they are willing to use financial technology services for banking, investing, or insurance
45% of banking customers would switch to a new bank for better digital experiences
The average cost to banks for onboarding a new customer is about $200-$300
Over 50% of millennials prefer to use digital wallets over traditional banking apps
The average age of a new bank account holder is 34 years old globally, indicating a younger demographic entering banking sectors
Approximately 90% of consumer data used in financial services is generated through digital channels
Over 45% of consumers trust digital-only banks more than traditional banks
55% of retail banking customers use AI-powered chatbots for inquiries and assistance
Approximately 60% of millennials plan to retire later than previous generations due to financial insecurity
35% of insurance companies report using big data analytics to personalize customer offerings
The percentage of financial transactions completed via biometric authentication is projected to reach 25% by 2026

Customer Behavior and Preferences Interpretation

With over three-quarters of bank customers embracing online platforms and a younger demographic eager for digital wallets and AI chatbots, the financial industry is racing toward a future where digital trust and personalized data-driven services not only streamline costs but redefine what banking means in the 21st century.

Cybersecurity and Regulatory Challenges

56% of financial decision-makers see cybersecurity threats as a top concern
Over 80% of financial institutions use some form of cloud computing
Financial fraud losses worldwide are estimated at $5 trillion annually
The average cost for financial institutions to comply with AML (Anti-Money Laundering) regulations is around $1.2 million annually per institution
Only about 40% of insurance companies have fully integrated digital transformation strategies
Over 90% of banking cybersecurity breaches involve phishing attacks

Cybersecurity and Regulatory Challenges Interpretation

With cyber threats and fraud losses soaring, financial institutions' heavy reliance on cloud computing and digital strategies remains a high-stakes balancing act—underscoring that in the race to innovate, safeguarding assets must be as prioritized as profits.

Digital Banking and Payments

The global digital payments market size is valued at $4.1 trillion in 2023
The number of mobile banking users worldwide exceeded 1.96 billion in 2023
The number of active mobile payment users globally is projected to reach 1.31 billion by 2025
The annual global payments volume processed via digital channels is forecast to reach $9.3 trillion by 2025
Around 35% of banks plan to completely digitize their retail banking operations within the next five years
The percentage of financial transactions processed via blockchain is expected to reach 10% globally by 2027
Globally, the number of active credit cards exceeded 22 billion in 2023

Digital Banking and Payments Interpretation

With a digital payments market worth $4.1 trillion and nearly 2 billion mobile banking users, the financial industry is not just digitizing; it's globally mobilizing towards a future where blockchain, mobile payments, and fully digital banks are reshaping how we transfer, store, and spend our money—proving that in finance, staying offline is quickly becoming offline.

Financial Market and Asset Management

The global financial services market is projected to reach $26.5 trillion by 2027
The total assets under management (AUM) in the global funds industry reached $115 trillion in 2022
The global cryptocurrency market cap surpassed $2 trillion in 2023
The number of underbanked adults globally decreased by 11 percentage points since 2011, now standing at 24% of adults
The global robo-advisors AUM reached $2.7 trillion in 2023
The US retail banking industry generated $137 billion in revenue in 2022
The average profit margin for retail banks in the US is around 15%
The global impact of financial crises is estimated to cause $4 trillion in economic damage per event
The global insurance industry’s revenue reached approximately $4.9 trillion in 2022
The average annual salary for financial analysts worldwide is approximately $63,000
The total value of assets held in central bank reserves worldwide is over $14 trillion
The number of negative financial news articles published daily has increased by 30% over the last five years, affecting market volatility
The global alternative investments market size is projected to reach $15 trillion by 2027
The average credit card interest rate globally is around 20%, varying significantly by region
The total value of financial derivatives traded globally exceeded $550 trillion in 2022

Financial Market and Asset Management Interpretation

From trillion-dollar assets to a booming $26.5 trillion market by 2027, the financial industry continues to demonstrate that in a world of ever-changing currencies, crises costing trillions, and robo-advisors managing $2.7 trillion, the only constant is the appetite for innovation—and risk.

Financial Technology Growth and Innovation

The fintech industry is expected to grow at a CAGR of 23.84% from 2023 to 2028
Around 68% of financial institutions plan to increase their investments in AI in the next two years
Nearly 40% of financial firms have adopted blockchain technology for various applications
The average return on investment (ROI) for RPA (Robotic Process Automation) in banking is approximately 200%
Nearly 65% of financial services firms have implemented or are planning to implement machine learning solutions
60% of financial institution executives believe that AI will significantly impact retail banking within the next five years
The adoption rate of open banking APIs in Europe is about 60%
The global peer-to-peer lending market was valued at approximately $90 billion in 2023
The total number of financial service jobs worldwide is estimated to be over 20 million
Over 70% of banks worldwide report investing in AI and machine learning to improve operational efficiency
The total number of fintech startups worldwide exceeded 26,000 in 2023
The number of financial technology patents filed increased by 25% between 2018 and 2022
The number of new fintech unicorns reached 17 in 2023, up from 9 in 2021
70% of small business owners in the US rely on financial technology tools for their banking needs
The global market for credit scoring is expected to grow at a CAGR of 11% from 2023 to 2030
65% of banks worldwide are actively exploring digital currencies or CBDCs
The number of people using micro-investment platforms globally surpassed 50 million in 2023
79% of banking executives see digital transformation as a key driver for future growth

Financial Technology Growth and Innovation Interpretation

As fintech accelerates with a CAGR of nearly 24%, AI investments soar with 68% of institutions bolstering their AI budgets, blockchain integration nears ubiquity at 40%, and with over 20 million jobs worldwide fueling innovation, the financial industry is undeniably racing toward a future where robotic automation yields 200% ROI, open banking APIs transform Europe at 60%, and new unicorns and patents signal a relentless pursuit of digital supremacy—making it clear that in the world of finance, smart money is on smart technology.