GITNUXREPORT 2025

Financial Service Industry Statistics

Financial services digitize rapidly, surpassing trillions, fueling fintech growth.

Jannik Linder

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

First published: April 29, 2025

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Statistic 1

The banking sector accounts for roughly 50% of the total financial services market globally

Statistic 2

As of 2023, there are over 30,000 banks worldwide

Statistic 3

The average revenue per user (ARPU) in the global banking sector is approximately $324 annually

Statistic 4

Around 80% of financial services firms have adopted cloud technology by 2023

Statistic 5

Blockchain technology is utilized by 44% of financial services firms for transaction security as of 2023

Statistic 6

About 65% of financial institutions experienced increased cybersecurity threats in 2023

Statistic 7

The average fraud loss per financial institution was $4.5 million in 2023

Statistic 8

50% of financial institutions have implemented AI-driven customer service chatbots as of 2023

Statistic 9

The average interest rate on savings accounts worldwide was around 0.25% in 2023

Statistic 10

Fintech payment losses due to fraud are estimated to be over $11 billion annually

Statistic 11

Approximately 40% of financial services firms report using Big Data analytics for risk management in 2023

Statistic 12

Retail banking revenue growth slowed to approximately 1.2% annual growth rate in 2023, compared to previous years

Statistic 13

65% of financial services firms have increased their investment in cybersecurity since 2021

Statistic 14

The average profit margin in the financial services industry is around 20%

Statistic 15

The number of financial service industry jobs in the US declined by 3% in 2023, reflecting automation and technological shifts

Statistic 16

The adoption rate of open banking APIs among European banks reached 85% in 2023

Statistic 17

The banking sector’s investment in AI and machine learning technologies has grown by 150% since 2021

Statistic 18

Approximately 78% of financial institutions expect to increase their spending on digital transformation in 2024

Statistic 19

The average financial services firm spends about 12% of its annual revenue on compliance and cybersecurity

Statistic 20

The share of financial services firms using biometric authentication increased to 72% in 2023

Statistic 21

Only about 40% of small and medium-sized financial firms have a formal digital strategy in place as of 2023

Statistic 22

Over 35% of financial services companies have integrated AI into their credit scoring models in 2023

Statistic 23

70% of banking activities are now conducted via mobile apps

Statistic 24

By 2025, contactless payments are expected to account for 75% of all point-of-sale transactions globally

Statistic 25

The average customer onboarding time with digital banking services has decreased by 35% since 2021

Statistic 26

Approximately 60% of banking transactions are now initiated and completed online

Statistic 27

More than 70% of consumers prefer digital channels for banking services

Statistic 28

The average duration of a financial transaction online is now under 3 minutes

Statistic 29

Retail investors hold approximately 35% of stocks traded worldwide as of 2023

Statistic 30

Over 55% of consumers use digital wallets for daily transactions in 2023

Statistic 31

The global financial literacy rate is estimated at 33%, highlighting the need for improved financial education worldwide

Statistic 32

55% of consumers in emerging markets prefer mobile banking over traditional banking methods

Statistic 33

The average number of transactions per digital banking user increased by 15% in 2023

Statistic 34

The number of cryptocurrency users worldwide surpassed 420 million in 2023

Statistic 35

The number of registered cryptocurrencies wallets worldwide surpassed 600 million in 2023

Statistic 36

Digital-only banks are growing 5 times faster than traditional banks

Statistic 37

The average age of fintech startup founders is 39 years old

Statistic 38

The total number of venture capital deals in financial services reached over 2,300 in 2023

Statistic 39

The number of open banking API calls increased by 120% in 2023, indicating rapid adoption

Statistic 40

The number of peer-to-peer (P2P) lending platforms globally is over 3,000 as of 2023

Statistic 41

The percentage of financial transactions processed through AI-enabled systems increased to 65% in 2023

Statistic 42

The number of financial technology patents filed worldwide increased by 18% in 2023, indicating rising innovation

Statistic 43

The implementation of Regulatory Technology (RegTech) solutions increased by 35% in 2023 to meet compliance demands

Statistic 44

The global financial services industry is valued at approximately $26.5 trillion as of 2023

Statistic 45

The fintech market is projected to reach a valuation of $332.5 billion by 2026

Statistic 46

Digital banking users worldwide surpassed 2.5 billion in 2023

Statistic 47

In 2023, the global insurance industry revenue is estimated at $5.6 trillion

Statistic 48

The property and casualty insurance sector makes up about 60% of the global insurance industry

Statistic 49

The number of fintech unicorns worldwide reached over 150 in 2023

Statistic 50

Financial technology investments reached $85 billion worldwide in 2023

Statistic 51

The robo-advisory market is projected to grow at a CAGR of 29% through 2027

Statistic 52

Micro-investing platforms saw over $20 billion in assets under management globally in 2023

Statistic 53

The global credit card transaction volume reached $39.2 trillion in 2023

Statistic 54

The number of mobile payment users worldwide reached 1.2 billion in 2023

Statistic 55

Environmental, Social, and Governance (ESG) investing assets increased by 55% in 2023, reaching $35 trillion globally

Statistic 56

The digital identity verification market in financial services is projected to grow at a CAGR of 15% through 2030

Statistic 57

The total number of financial advisors worldwide is approximately 2.8 million as of 2023

Statistic 58

The global insurance technology (insurtech) market is projected to reach $15 billion by 2025

Statistic 59

Islamic finance assets worldwide are estimated at about $3 trillion in 2023

Statistic 60

The global market for financial cybersecurity solutions is projected to reach $22 billion by 2025

Statistic 61

The total assets under management (AUM) in sustainable/investment funds globally surpassed $35 trillion in 2023

Statistic 62

The number of active mobile banking users in Asia-Pacific exceeded 900 million in 2023

Statistic 63

The total number of transactions processed via mobile money platforms in Africa exceeded 1.2 billion in 2023

Statistic 64

The total global transaction volume in mobile payments is projected to reach $8 trillion in 2024

Statistic 65

The global market for real-time payment systems is estimated to grow at a CAGR of 20% from 2023 to 2030

Statistic 66

The total value of assets held in cryptocurrency custody services worldwide surpassed $3 trillion in 2023

Statistic 67

The volume of pensions assets in the US reached $36 trillion in 2023, making it the largest single asset class

Statistic 68

The global market for financial data analytics is projected to reach $30 billion by 2030, growing at a CAGR of 12.5%

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Key Highlights

The global financial services industry is valued at approximately $26.5 trillion as of 2023
The banking sector accounts for roughly 50% of the total financial services market globally
As of 2023, there are over 30,000 banks worldwide
The fintech market is projected to reach a valuation of $332.5 billion by 2026
Digital banking users worldwide surpassed 2.5 billion in 2023
70% of banking activities are now conducted via mobile apps
The average revenue per user (ARPU) in the global banking sector is approximately $324 annually
In 2023, the global insurance industry revenue is estimated at $5.6 trillion
The property and casualty insurance sector makes up about 60% of the global insurance industry
The number of fintech unicorns worldwide reached over 150 in 2023
Around 80% of financial services firms have adopted cloud technology by 2023
Blockchain technology is utilized by 44% of financial services firms for transaction security as of 2023
Financial technology investments reached $85 billion worldwide in 2023

The financial services industry is undergoing a seismic transformation in 2023, with a market valuation of $26.5 trillion fueled by rapid fintech innovation, digital banking expansion, soaring investments in AI and cybersecurity, and a shift toward sustainable and digital-first solutions that are shaping the future of global finance.

Banking and Financial Institutions

The banking sector accounts for roughly 50% of the total financial services market globally
As of 2023, there are over 30,000 banks worldwide
The average revenue per user (ARPU) in the global banking sector is approximately $324 annually
Around 80% of financial services firms have adopted cloud technology by 2023
Blockchain technology is utilized by 44% of financial services firms for transaction security as of 2023
About 65% of financial institutions experienced increased cybersecurity threats in 2023
The average fraud loss per financial institution was $4.5 million in 2023
50% of financial institutions have implemented AI-driven customer service chatbots as of 2023
The average interest rate on savings accounts worldwide was around 0.25% in 2023
Fintech payment losses due to fraud are estimated to be over $11 billion annually
Approximately 40% of financial services firms report using Big Data analytics for risk management in 2023
Retail banking revenue growth slowed to approximately 1.2% annual growth rate in 2023, compared to previous years
65% of financial services firms have increased their investment in cybersecurity since 2021
The average profit margin in the financial services industry is around 20%
The number of financial service industry jobs in the US declined by 3% in 2023, reflecting automation and technological shifts
The adoption rate of open banking APIs among European banks reached 85% in 2023
The banking sector’s investment in AI and machine learning technologies has grown by 150% since 2021
Approximately 78% of financial institutions expect to increase their spending on digital transformation in 2024
The average financial services firm spends about 12% of its annual revenue on compliance and cybersecurity
The share of financial services firms using biometric authentication increased to 72% in 2023
Only about 40% of small and medium-sized financial firms have a formal digital strategy in place as of 2023
Over 35% of financial services companies have integrated AI into their credit scoring models in 2023

Banking and Financial Institutions Interpretation

With over 30,000 banks globally averaging just $324 revenue per user, the financial industry’s biggest challenge remains turning digital innovation—spurred by a 150% growth in AI investments and widespread adoption of cloud, blockchain, and biometric security—into real profits, even as cybersecurity threats and fraud losses continue to siphon billions and slow retail growth prospects.

Consumer Behavior and Market Preferences

70% of banking activities are now conducted via mobile apps
By 2025, contactless payments are expected to account for 75% of all point-of-sale transactions globally
The average customer onboarding time with digital banking services has decreased by 35% since 2021
Approximately 60% of banking transactions are now initiated and completed online
More than 70% of consumers prefer digital channels for banking services
The average duration of a financial transaction online is now under 3 minutes
Retail investors hold approximately 35% of stocks traded worldwide as of 2023
Over 55% of consumers use digital wallets for daily transactions in 2023
The global financial literacy rate is estimated at 33%, highlighting the need for improved financial education worldwide
55% of consumers in emerging markets prefer mobile banking over traditional banking methods
The average number of transactions per digital banking user increased by 15% in 2023

Consumer Behavior and Market Preferences Interpretation

As digital transformation accelerates with over 70% of banking activities now mobile and contactless payments poised to dominate, the industry is witnessing faster, more convenient services amid a global push for financial literacy, prompting banks and investors alike to adapt swiftly or risk falling behind in this rapidly evolving financial landscape.

Cryptocurrencies and Digital Assets

The number of cryptocurrency users worldwide surpassed 420 million in 2023
The number of registered cryptocurrencies wallets worldwide surpassed 600 million in 2023

Cryptocurrencies and Digital Assets Interpretation

With over 420 million crypto users and 600 million wallets in 2023, the industry is unmistakably shifting from niche to mainstream, proving that digital currencies are no longer just a speculative playground but a foundational element of modern finance.

Digital Finance and Innovation

Digital-only banks are growing 5 times faster than traditional banks
The average age of fintech startup founders is 39 years old
The total number of venture capital deals in financial services reached over 2,300 in 2023
The number of open banking API calls increased by 120% in 2023, indicating rapid adoption
The number of peer-to-peer (P2P) lending platforms globally is over 3,000 as of 2023
The percentage of financial transactions processed through AI-enabled systems increased to 65% in 2023
The number of financial technology patents filed worldwide increased by 18% in 2023, indicating rising innovation
The implementation of Regulatory Technology (RegTech) solutions increased by 35% in 2023 to meet compliance demands

Digital Finance and Innovation Interpretation

The financial services industry is undeniably evolving at a blistering pace, with digital-only banks outperforming traditional ones fivefold, fintech founders in their prime at 39, and AI processing 65% of transactions—highlighting an innovative, fast-moving landscape fueled by over 2,300 VC deals and a surge in API integration, P2P platforms, and RegTech innovations—all confirming that the future belongs to agile, tech-driven financial ecosystems.

Market Size and Valuation

The global financial services industry is valued at approximately $26.5 trillion as of 2023
The fintech market is projected to reach a valuation of $332.5 billion by 2026
Digital banking users worldwide surpassed 2.5 billion in 2023
In 2023, the global insurance industry revenue is estimated at $5.6 trillion
The property and casualty insurance sector makes up about 60% of the global insurance industry
The number of fintech unicorns worldwide reached over 150 in 2023
Financial technology investments reached $85 billion worldwide in 2023
The robo-advisory market is projected to grow at a CAGR of 29% through 2027
Micro-investing platforms saw over $20 billion in assets under management globally in 2023
The global credit card transaction volume reached $39.2 trillion in 2023
The number of mobile payment users worldwide reached 1.2 billion in 2023
Environmental, Social, and Governance (ESG) investing assets increased by 55% in 2023, reaching $35 trillion globally
The digital identity verification market in financial services is projected to grow at a CAGR of 15% through 2030
The total number of financial advisors worldwide is approximately 2.8 million as of 2023
The global insurance technology (insurtech) market is projected to reach $15 billion by 2025
Islamic finance assets worldwide are estimated at about $3 trillion in 2023
The global market for financial cybersecurity solutions is projected to reach $22 billion by 2025
The total assets under management (AUM) in sustainable/investment funds globally surpassed $35 trillion in 2023
The number of active mobile banking users in Asia-Pacific exceeded 900 million in 2023
The total number of transactions processed via mobile money platforms in Africa exceeded 1.2 billion in 2023
The total global transaction volume in mobile payments is projected to reach $8 trillion in 2024
The global market for real-time payment systems is estimated to grow at a CAGR of 20% from 2023 to 2030
The total value of assets held in cryptocurrency custody services worldwide surpassed $3 trillion in 2023
The volume of pensions assets in the US reached $36 trillion in 2023, making it the largest single asset class
The global market for financial data analytics is projected to reach $30 billion by 2030, growing at a CAGR of 12.5%

Market Size and Valuation Interpretation

With a staggering $26.5 trillion valuation and over 150 fintech unicorns transforming finance at a blistering pace, the industry’s digital leap—from 2.5 billion digital banking users to $8 trillion in mobile payments—underscores that in today’s world, finance is both trillion-dollar and mobile-first, driven by innovation, ESG commitments, and cybersecurity defenses—all while ai maturing into the financial backbone of tomorrow.