Gitnux/Report 2026

Financial Service Industry Statistics

The global financial system holds $503.7T of assets at end-2024, explore the 2025 growth, key companies, and 2024–2026 trends.
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November 11, 2026Updated
Financial Service Industry Statistics
Elif DemirciWritten by Elif Demirci·Edited by David Kowalski·Fact-checked by Yumi Nakamura
Published ·Updated
How this report is researched
01Editorial Scope

Before any source is gathered, an editor locks the question, what qualifies, and how the piece will be judged.

02Source Research

Search agents collect the source set and pull each data point out with its provenance attached.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The financial service industry at a glance

Financial-sector growth reached 4.3% in 2025, shaping demand for banking and nonbank services. Global financial assets totaled $503.7 trillion at the end of 2024, with nonbank financial intermediaries at 51.0% of the total.

$503.7T[91]
Global financial assets, 2024
51.0%[91]
NBFI asset share, 2024
4.3%[3]
Financial-sector growth, 2025
4.6%[92]
EU output share, 2025
Market size
Global financial assets totaled $503.7 trillion at the end of 2024, comprising $191.3 trillion in bank assets, $256.8 trillion in nonbank financial-intermediation assets, $34.1 trillion in central-bank assets and $21.5 trillion in public-financial-institution assets.[91]
Market share & regions
Financial and insurance activities accounted for 4.6% of EU gross value added in 2025, down from 5.0% in 2006. The FSB’s global monitoring covered 29 jurisdictions representing more than 90% of global GDP, with nonbank finance generally more prominent in advanced economies than in emerging and developing economies.[92][91]
Segmentation
The global financial system in 2024 consisted of nonbank financial intermediaries at $256.8 trillion, banks at $191.3 trillion, central banks at $34.1 trillion and public financial institutions at $21.5 trillion. Within nonbank finance, other financial intermediaries held $169.4 trillion, while pension funds and insurers grew their assets by 7% and 6%, respectively, during 2024.[91]
Key players & concentration
Traditional banks held close to 98% of global banking-system assets in 2024. Universal banks accounted for approximately 66% of global banking assets, compared with 22% for retail and commercial banks and 11% for trading and investment banks.[3]
Pricing
The U.S. Federal Reserve’s federal-funds target range was 3.75% to 4.00% on October 29, 2026, while the effective federal-funds rate was 3.88% on November 9, 2026. These policy rates influence short-term borrowing costs and pricing across loans, deposits and other financial instruments.[93]
Trends, drivers & challenges
Global financial assets increased 6.3% in 2024, led by 9.4% growth in nonbank financial-intermediation assets versus 4.7% growth in bank assets. Growth was supported by higher asset prices, buoyant risk appetite and lower policy rates, while regulators continue to address liquidity, leverage, interconnectedness and data gaps in private credit.[91]
Consumer behavior & competition
In the EU in 2025, 13% of internet users bought insurance online, 9% bought or sold shares, bonds or fund units, and 4% arranged a loan, mortgage or credit online. Digital platforms are intensifying competition in retail and small-business payments, lending and advice, while traditional banks retain the large majority of banking assets.[92][3]
Regulation
The FSB’s 2025 monitoring report identified nonbank financial intermediation as 51.0% of global financial assets in 2024 and highlighted the need to strengthen resilience in areas including liquidity transformation, leverage, bank–nonbank interconnectedness and private-credit reporting. In the EU, banks’ common-equity Tier 1 ratio was 18.8% and their overall nonperforming-loan ratio was 1.2% in 2025-Q3.[91][94]
Latest news
The Financial Stability Board reported in December 2025 that nonbank financial intermediation grew 9.4% in 2024 to $256.8 trillion, reaching 51.0% of global financial assets. In August 2026, the BIS reported that Singapore’s financial sector grew 4.3% in 2025, with assets under management rising 10.1% to S$6.7 trillion.[91][3]

02 Ranking

Top 10 Companies in the Financial Service Industry

The leading companies in the financial service industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 11, 2026 · Next review December 11, 2026

Verdict

Morgan Stanley stands out for investment banking and wealth because it reported $70.6 billion of full-year 2025 net revenues, while Mastercard focuses on card-payment network throughput since it processed 175.5 billion switched transactions in 2025.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in investment banking and wealth

    Morgan Stanley

    US

    Ranked #1 · 9.4 · Investment banking and wealth

    Why we picked it: It reports large-scale investment banking and wealth performance alongside $9.3 trillion in client assets.

    See in ranking ↓Visit morganstanley.com ↗

  2. Leader in card payments network

    Mastercard

    US

    Ranked #2 · 9.3 · Card payments network

    Why we picked it: Its payments network scale is reflected in transaction throughput and 2025 revenue growth.

    See in ranking ↓Visit mastercard.com ↗

  3. Leader in asset management

    BlackRock

    US

    Ranked #3 · 9.2 · Asset management

    Why we picked it: Its asset management and investment technology platform is tied to $14 trillion of managed client assets.

    See in ranking ↓Visit blackrock.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the financial service industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Morgan Stanley

Investment banking and wealth · US

9.4
2

Mastercard

Card payments network · US

9.3
3

BlackRock

Asset management · US

9.2
4

American Express

Lending and travel finance · US

9.2
5

Mitsubishi UFJ Financial Group

Japanese banking and markets · JP

9.0
6

Bank of America

Consumer, commercial and investment banking · US

8.9
7

JPMorgan Chase

Global banking, markets and asset management · US

8.9
8

Goldman Sachs

Investment banking, markets and asset management · US

8.9
9

BNP Paribas

European banking, markets and consumer finance · FR

8.6
10

AXA

Property, casualty, life and health insurance · FR

8.4

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 11, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Elif Demirci. (2026, February 13). Top 10 companies in the financial service industry. In Financial Service Industry Statistics. Gitnux. https://gitnux.org/financial-service-industry-statistics/#top-companies

report visual · Comparison

Revenue of the largest financial service companies

JPMorgan Chase leads with $182.4B in annual revenue (group level, converted to USD).

JPMorgan Chase$182.4B
AXA$125.3B
Bank of America$113.1B
American Express$72.0B
Morgan Stanley$70.6B
Goldman Sachs$58.3B
source-verifiedjpmorganchase.com · axa.com · investor.bankofamerica.com · americanexpress.com · morganstanley.com · goldmansachs.com2025

04 Statistics

Technology & Innovation

AI use is moving from pilots into operations: 94% of surveyed large UK and international banks used AI in 2024, and 80% of financial services firms reported active AI use in 2026.

AI in the financial service industry

  • 94% of surveyed large UK and international banks were using AI in 2024.[1]
  • 18% of financial-services executives said their organizations were implementing generative AI in the talent function in 2025.[2]
  • 41% of surveyed UK financial-services firms used AI to optimise internal processes in 2024.[3]
  • 75% of surveyed UK financial-services firms were already using AI in 2024.[1]
  • Nearly 90% of significant euro-area banks used AI technologies in 2025.[4]
  • 86% of financial-services respondents were investing in AI and 62% specifically in generative AI in 2024.[2]

Automation in the financial service industry

  • 77% of surveyed finance organizations automated at least some general-accounting activities in 2025.[5]
  • 11% of surveyed UK financial-services firms used AI for algorithmic trading in 2024.[3]
  • 66% of surveyed finance organizations had at least implemented automation in record-to-report processes in 2025.[5]
  • 39% of surveyed US community banks identified automation or AI as a top-three technology investment for 2024.[6]
  • 53% of surveyed finance organizations had at least implemented automation in procure-to-pay processes in 2025.[5]
  • 26% of surveyed UK financial-services firms used AI to enhance customer support in 2024.[3]

Digital Transformation in the financial services sector (sector benchmark)

  • 43% of financial services firms said they will need an entirely new technology stack to succeed in the age of AI.[7]
  • 80% of financial services firms reported active AI use in 2026, up from 31% in 2025.[7]
  • 26% of financial services firms reported using agentic AI in 2026, according to a global digital-transformation study.[7]
  • 84% of financial services firms said integrating front-, middle- and back-office systems into one platform is important in 2026.[7]
  • 27% of financial services firms reported financial benefits from AI in 2026, up from 14% in 2025.[7]

Technology Adoption in the financial services sector (sector benchmark)

  • 54% of surveyed financial services companies had deployed AI initiatives by January 2025, up from 40% one year earlier.[8]
  • 61% of financial institutions recently adopted AI or improved their AI capabilities, based on a 2024 survey across 11 markets.[9]
  • 35% of financial institutions adopted or improved generative-AI capabilities during the 12 months covered by the 2024 survey.[9]
  • 59% of finance leaders reported using AI in their finance function in 2025, according to Gartner’s survey of 183 senior finance leaders.[10]
  • About one-third of financial services companies reported using generative AI by January 2025, compared with 21% a year earlier.[8]

Cloud Computing in the financial services sector (sector benchmark)

  • 91% of financial organizations had at least one cloud platform in 2023, up from 37% in 2020.[11]
  • 82% of financial services firms used a hybrid- or multi-cloud strategy in LSEG’s 2025 global survey.[12]
  • 33% of financial services firms were highly satisfied with cloud-related reductions in operational costs in Capgemini’s 2024 survey.[11]
  • 43% of banking and financial services organizations were moving toward a cloud-first analytics approach in the WNS-Forrester survey.[13]
  • 87% of financial services firms increased cloud investment during the two years preceding LSEG’s 2025 global survey.[12]

Big Data in the financial services sector (sector benchmark)

  • 43% of financial services firms had adopted customer-data platforms at least partially or were scaling them, based on Capgemini’s 2024 survey.[11]
  • 11% of surveyed bank marketers were very confident in the accuracy of the data they regularly used in 2024.[14]
  • 37% of surveyed bank marketers said their bank was on the way to using data and analytics to support strategic goals in 2024.[14]

05 Statistics

Data & Analytics

Governance and data quality remain gating items, with 82.9% of organizations implementing governance policies for BI and analytics in 2025 and 94% of respondents prioritizing data accuracy and reliability in 2024.

Business intelligence in the financial service industry

  • Almost half of UK financial-services firms responding in 2022 said PRA or FCA regulations constrained machine-learning deployment.[1]
  • 80% of U.S. community banks were considering increased investment in data analytics in Bank Director’s 2024 technology survey.[15]
  • 70% of U.S. banks with more than $10 billion in assets invested in data-analysis platforms or capabilities during the preceding 18 months.[16]
  • 58% of finance functions were using AI in 2024, according to Gartner’s finance-function survey.[10]
  • 80% of UK financial-services firms using machine learning reported having data-governance frameworks in 2022.[1]
  • 41% of U.S. banks used spreadsheets to manage business-line data in Bank Director’s 2025 technology survey.[16]

Data analytics in the financial service industry

  • 75% of UK financial-services firms were already using AI in 2024, with data and analytical insights among the highest perceived current benefits.[1]
  • 86% of banking and capital-markets respondents ranked data accessibility and ease of use among their top data concerns in 2024.[2]
  • 2% of AI use cases at UK financial-services firms had fully autonomous decision-making in 2024.[1]
  • Almost one-third of banking and capital-markets respondents were considering AI investment for personalization in 2024.[2]
  • A third of AI use cases at UK financial-services firms in 2024 were third-party implementations.[1]
  • The top three data providers accounted for 33% of data-provider use reported by UK financial-services firms in 2024.[1]

Data Quality in the financial services sector (sector benchmark)

  • Across significant European banking institutions, 32% did not apply data-quality-management principles to end-user computing in 2023.[17]
  • Across U.S. banking and capital markets, 86% of respondents named data access and usability as a top concern in 2024.[2]
  • Across banks supervised by the European Central Bank, 28% reported that all data used by critical functions came from golden sources in 2023.[17]
  • Across U.S. banking and capital markets, 94% of respondents named data accuracy and reliability as a priority in 2024.[2]
  • Across global financial services, 34% of organizations rated their data excellent for accuracy and integrity in 2024.[18]
  • Across global financial services, 36% of organizations rated their data excellent for quantity and completeness in 2024.[18]

Data Governance in the financial services sector (sector benchmark)

  • Across financial-services organizations surveyed globally, 82.9% had implemented governance policies specifically applying to business intelligence and analytics in 2025.[19]
  • Across global financial services, 54% of companies rated data governance at one of the two highest maturity levels in 2024.[20]
  • Across 35 surveyed banks, insurers, and financial-services firms in 38 countries, 54% had adopted a semantic layer for organization-wide data governance in 2025.[21]
  • Across financial-services organizations surveyed globally, 57.1% identified BI-content testing as the top future investment in analytics governance in 2025.[19]
  • Across financial-services organizations surveyed globally, 43.7% lacked a standardized certification process for analytics content in 2025.[19]

KPIs in the financial service industry

  • 181% was the annual engagement rate for top financial-services products in Amplitude’s 2025 benchmark analysis.[22]
  • 5.7% was the 75th-percentile activation rate for financial-services products in Amplitude’s 2025 benchmark dataset.[23]
  • 46% of U.S. bank customers said in 2024 that they were certain they would remain with their current bank for the next year.[24]
  • 3.7% was the increase in loss events reported by EU banks in 2024, reaching approximately 3.1 million events.[25]
  • 13% of U.S. retail-bank customers said they were likely to switch institutions within 12 months in 2024, a customer-retention indicator.[24]
  • 4.6% was the 75th-percentile acquisition rate for financial-services products in Amplitude’s 2025 benchmark dataset.[23]

06 Statistics

Strategy & Growth

Partnership-led acquisition and product personalization are driving activity, with 58% of banking customers buying a financial product from a new provider in the previous 12 months.

Growth in the financial service industry

  • 4.4% was year-on-year revenue growth for global corporate and investment banking in 2024.[26]
  • $3.0 trillion was the revenue of corporate and investment banking globally in 2024.[26]
  • 22% was the revenue growth rate for fintechs from 2021 to 2025, compared with 5% for banks.[26]
  • 1.7 times faster revenue growth was recorded by banks with the highest customer-advocacy scores than by other banks.[27]
  • 38% of US banking-license applications filed by fintechs in 2025 were accepted.[26]
  • 35% was the increase from 2021 to 2023 in deposit-account openings at mobile-leading banks.[26]

Differentiation in the financial service industry

  • 6.3 financial-services products were held by the average consumer, with only half from the primary bank.[27]
  • 72% of customers said personalization influences their bank choice.[27]
  • 42% of consumers found it difficult to distinguish between financial-services brands in 2024.[27]
  • 195 points was the increase in overall satisfaction when US bank customers received personalized advice or guidance in 2024.[24]
  • 42% of US retail bank customers recalled receiving financial advice from their bank in 2024.[24]
  • 163 points was the increase in overall satisfaction when US bank customers acted on specific advice in 2024.[24]

Mergers and acquisitions in the financial service industry

  • 126 US banking transactions were recorded in 2024, up 28% from 2023.[2]
  • 181 banking and capital-markets transactions were completed in 2025.[2]
  • 40% was the increase in Asia-Pacific financial-services deal value from 2023 to 2024.[28]
  • $3.6 billion was the value of Nationwide’s acquisition of Virgin Money announced in September 2024.[28]
  • 455 insurance-sector deals were recorded in the United States and Bermuda in 2025.[2]
  • $51.654 billion was the aggregate value of US banking transactions in 2024.[2]

Strategic partnerships in the financial service industry

  • 58% of banking customers bought a financial product from a new provider in the previous 12 months, supporting partnership-led customer acquisition.[27]
  • 90% of traditional financial institutions surveyed by BCG and GFF had existing partnerships with at least one fintech in 2024.[29]
  • 60% of traditional financial institutions had partnerships with five or more fintechs in 2024.[29]
  • 80% of US credit unions viewed fintech partnerships as either a strong or moderate growth driver in 2024.[30]
  • 70% of US banks viewed fintech partnerships as either a strong or moderate growth driver in 2024.[30]
  • 33% of banking customers had a relationship with a digital bank, creating a broad base for bank-fintech partnerships.[27]

07 Statistics

People & Workforce

Workforce plans increasingly include AI reskilling, with 80% of employers in 2025 planning to reskill and upskill workers to work alongside AI.

Hiring in the financial service industry

  • 33% of US banks concerned about recruitment or retention cited leadership development among their three most successful responses in 2024.[31]
  • 34% of US banks concerned about recruitment or retention cited career-development pathing among their three most successful responses in 2024.[31]
  • 57% of financial-services firms planned to partner with external vendors or service providers for AI capabilities in 2026.[28]
  • 24% was the decline in global financial-services job postings requiring zero to two years of experience from January 2024 to 2025.[32]
  • 36% of US banks concerned about recruitment or retention said proactive recruiting was among their three most successful responses in 2024.[31]

Employee retention in the financial service industry

  • 28% of finance workers were actively looking for new roles in KPMG's survey.[20]
  • 31% of finance workers who considered leaving cited feeling disrespected as a reason in KPMG's survey.[20]
  • 40% of finance workers who considered leaving cited uncompetitive pay as a reason in KPMG's survey.[20]
  • 19% of US banks concerned about recruitment or retention cited DEI strategies among their three most successful responses in 2024.[31]
  • 10% of financial-services workers changed employer each year, according to cited ONS data in the 2025 FSSC report.[33]

Remote Work in the financial services sector (sector benchmark)

  • Across U.S. financial services, 82% of companies offered some form of work-location flexibility in 2025.[34]
  • 52.5% of workers in U.S. financial activities teleworked in June 2026, according to the Bureau of Labor Statistics.[35]
  • 87% of U.S. financial services employees said remote work helped them balance home and work responsibilities in 2025.[20]
  • 68% of U.S. financial services workers said they would consider seeking new employment if remote and hybrid flexibility were reduced in 2023.[36]

Hybrid Work in the financial services sector (sector benchmark)

  • 54% of U.S. employees with remote-capable jobs worked in a hybrid arrangement in 2025.[37]
  • 2.58 days was the average weekly in-office requirement among financial services companies using structured hybrid work in 2024.[38]
  • 52% of financial services companies used a structured hybrid model in 2024, up from 41% in 2023, according to a survey of 777 companies.[38]
  • 42.2% of remotely workable finance and insurance jobs were hybrid in July 2025 in the United States.[34]
  • 39% of financial services companies offered corporate employees full flexibility over work location in 2024.[38]

Upskilling in the financial service industry

  • 52% of financial-services respondents said they regularly used AI technologies in ACCA's 2026 survey.[39]
  • 80% of financial-services and capital-markets employers planned to reskill and upskill existing workers to work alongside AI in 2025.[40]
  • 83% of surveyed financial-services firms reported increased demand for data-analysis and insights skills in 2024.[33]
  • 44% of surveyed financial-services firms reported increased demand for cybersecurity skills in 2024.[33]
  • 61% of surveyed financial-services firms reported increased demand for adaptability in 2024.[33]

Employee Engagement in the financial services sector (sector benchmark)

  • 16% of employees worldwide were actively disengaged at work in 2025.[37]
  • 12% of employees in Europe were engaged at work in 2025.[37]
  • 31% of employees in the United States and Canada were engaged at work in 2025.[37]
  • 20% of employees worldwide were engaged at work in 2025, according to Gallup’s World Poll.[37]

DEI in the financial service industry

  • 59% of senior-management employees in the Bank of America WGES portfolio were White men in 2020.[41]
  • 19% of C-suite employees in the Bank of America WGES portfolio were White women in 2020.[41]

08 Statistics

Customer & Sales

Customer friction and retention matter: 13% of U.S. retail-bank customers were likely to switch institutions within 12 months in 2024.

Customer experience in the financial service industry

  • 47% of financial-services consumers said they often have to repeat or re-explain information to different representatives.[42]
  • 42% of commercial-banking customers ranked personalization among their top three customer-experience priorities.[20]
  • 33% of retirement and financial-wellness customers ranked empathy among their top three customer-experience priorities.[20]
  • 47% of financial-services consumers said they often had to repeat or re-explain information to different representatives in 2024, globally.[42]
  • 30% of wealth-management customers were fully satisfied with customer-service speed in the latest Salesforce survey, globally.[42]

Customer retention in the financial service industry

  • 23% of U.S. consumers switched checking accounts during the year covered by Mintel’s 2024 study.[43]
  • 200% was the potential increase in customer attrition during the first three to six months compared with higher annualized attrition rates.[44]
  • 1–2% of net income is lost for each percentage point of customer attrition among retail financial institutions.[44]
  • 38% of U.S. consumers defined their primary financial relationship by where their direct deposit was received.[45]
  • 55% of U.S. consumers surveyed by MX had previously closed a financial account.[45]

Customer acquisition in the financial service industry

  • 53% of U.S. financial institutions cited increasing competition as a key driver of acquisition efforts in 2025.[46]
  • 80% of U.S. financial institutions were focused on acquiring net-new customers in 2025.[46]
  • 63% of U.S. financial institutions using alternative data reported improved segmentation and targeting.[46]
  • 63% of U.S. financial institutions cited high costs of acquiring or processing data as an acquisition roadblock in 2025.[46]
  • 68% of U.S. financial institutions measured acquisition-campaign success by return on investment in 2025.[46]

Customer loyalty in the financial service industry

  • 83% of U.S. account holders said life-event guidance would increase their loyalty to a financial institution.[6]
  • 44% of U.S. consumers cited high fees as the main reason for switching financial institutions in 2024.[43]
  • 52% of U.S. financial-institution customers considered themselves very loyal in 2024.[47]
  • 62% of global respondents trusted financial-services companies to do the right thing in 2024.[48]
  • 78% of U.S. ZIP codes recorded a decrease in banking loyalty compared with the previous year in 2024.[47]

Lead generation in the financial service industry

  • 34% of global financial professionals identified online webinars as an emerging successful prospecting method.[49]
  • 37% of U.S. financial institutions were in early testing or evaluation of alternative data for acquisition campaigns in 2025.[46]
  • 61% of U.S. financial institutions reported that alternative data improved their response-to-approval ratio.[46]
  • 34% of financial-services leads converted during the call in Invoca’s 2026 benchmark.[50]
  • 35% of global financial professionals identified advisor-match services as an emerging successful prospecting method.[49]

09 Statistics

Marketing & Brand

Spend expectations point to digital channels, with 85.0% of U.S. banks expecting to increase digital-advertising spending for 2026.

Marketing in the financial service industry

  • 64% of surveyed CMOs said they lacked sufficient budget to execute their 2024 marketing strategy.[10]
  • 29.2% of U.S. banks expected to increase email-marketing spending for 2026.[14]
  • 85.0% of U.S. banks expected to increase digital-advertising spending for 2026.[14]
  • 27.9% of marketing budgets went to paid media in 2024 among surveyed companies.[10]
  • 38.1% of U.S. banks expected to increase content-marketing spending for 2026.[14]

Digital marketing in the financial service industry

  • 85.0% of U.S. banks planned to increase digital-advertising budgets for 2026.[14]
  • 55.8% of U.S. banks planned to increase search-engine marketing and optimization budgets for 2026.[14]
  • 10.7% of surveyed companies’ digital marketing-channel budgets went to digital display advertising in 2024.[10]
  • 65% of financial-services companies did not ask leads to move forward in Invoca’s 2026 benchmark.[50]
  • 13.6% of surveyed companies’ digital marketing-channel budgets went to search in 2024.[10]

Branding in the financial service industry

  • 92 out of 100 was the Kantar BrandZ financial-services score for being socially responsible in 2024.[51]
  • 99 out of 100 was the trust score for the leading financial-services brand descriptor in Kantar’s 2024 category analysis.[51]
  • $2.112 billion was UniCredit’s 2024 brand value in Kantar BrandZ’s financial-services category.[51]
  • $6,962 million was MUFG’s 2024 financial-services brand value in Kantar BrandZ’s global ranking.[51]
  • $1.639 billion was Banco do Brasil’s 2024 brand value in Kantar BrandZ’s financial-services category.[51]

Social media in the financial service industry

  • 39% of banks surveyed by the American Bankers Association used YouTube in 2023.[52]
  • 9% of U.S. financial institutions had no budget allocated to paid social media for 2026.[53]
  • 13 million financial-services social-media posts were analyzed in Hearsay Systems’ 2024 social-selling study.[54]
  • 4% of banks surveyed by the American Bankers Association used Snapchat in 2023.[52]
  • 7% of banks surveyed by the American Bankers Association used TikTok in 2023.[52]

Influencer Marketing in the financial services sector (sector benchmark)

  • 60% of financial-services marketers reported dedicated and growing budgets for creator or influencer marketing in 2026.[55]
  • 23% of financial-services marketers reported dedicated but flat budgets for creator or influencer marketing in 2026.[55]
  • 5% of financial-services marketers reported dedicated but shrinking budgets for creator or influencer marketing in 2026.[55]
  • 7% of financial-services marketers reported folding creator or influencer marketing into other channels rather than maintaining a dedicated budget in 2026.[55]
  • 37% of banking executives in a survey of 102 finance respondents recognized influencer marketing as a potent tool for authentic consumer connections in 2023.[47]

10 Statistics

Operations & Execution

Automation targets operational control points, with 77% of organizations implementing automation in general accounting processes in 2025.

Process optimization in the financial service industry

  • 46% of financial-services organizations identified operational-efficiency boosts, including repetitive-task automation and employee-experience improvements, as a short-term AI goal for the next two years in 2024.[56]
  • 74% of organizations had implemented automation in customer-invoicing processes.[5]
  • 77% of organizations had implemented automation in general accounting processes.[5]
  • 37% of U.S. finance professionals identified complex validation processes as a leading bottleneck in manual accounts payable.[57]
  • 62.8% of financial-services firms cited cost efficiency as a top driver of automation investment in 2026.[58]

Operational efficiency in the financial service industry

  • 85% of financial-services representatives said customers were more demanding than previously.[42]
  • 36% was UniCredit’s cost-to-income ratio in the first half of 2024, the lowest among the 35 banks tracked in the survey.[59]
  • 67% of financial-services leaders ranked operational efficiency as a strategic priority in 2024.[60]
  • 57% of insurance professionals spent more than half their working day on administrative tasks rather than sales.[11]
  • 65% of financial-services representatives said balancing service speed and quality was difficult.[42]

Quality management in the financial service industry

  • 22% of insurance customers were fully satisfied with the claim-filing process in the Salesforce survey.[42]
  • 63% of UK consumers said in 2024 that they would be very likely to use the same financial adviser again.[61]
  • 100% of written complaints were acknowledged within 14 days by the FDIC Consumer Response Unit in 2024.[62]
  • 98.6% of complaints were investigated and answered within established performance-goal timeframes by the FDIC in 2024.[62]
  • 12.3% of the Federal Reserve’s 2023 bank complaints concerned error resolution.[63]

Supply chain in the financial service industry

  • 77% of financial-services organizations used AI or predictive analytics to measure technology performance and value in 2024.[56]
  • 580 U.S. banking, credit-union and insurance executives participated in a 2024 survey of financial-services automation.[64]
  • 4,282 FDIC complaint cases in 2024 involved one or more third-party providers.[62]
  • 6,356 FDIC consumer-complaint cases in 2025 involved one or more third-party providers supporting banks.[62]
  • 91% of financial-services firms said automation improves compliance in a 2026 survey, highlighting the role of connected providers and systems in control execution.[58]

Outsourcing / Offshoring in the financial services sector (sector benchmark)

  • Among significant European banks, outsourcing services accounted for 7.2% of administrative expenses at year-end 2023, up from 6.8%.[17]
  • Across surveyed finance organizations, 17% were evaluating nearshore locations for future operations in 2026, compared with 13% evaluating offshore locations.[65]
  • Among significant European banks, 27% of critical ICT contracts were outsourced to external providers located outside the European Union in the 2024 analysis.[17]
  • Among significant European banks, 67% of outsourcing contracts were sub-outsourced to external service providers in the 2024 analysis.[17]
  • Across surveyed finance organizations, 64% were implementing or evaluating offshoring or nearshoring for finance operations in 2026, while 36% planned to remain fully U.S.-based.[65]

11 Statistics

Finance & Pricing

Fee structures remain a core economics lever, with 72.4% of financial advisers’ compensation coming from asset-based fees in the 2024 Cerulli survey.

Pricing strategy in the financial service industry

  • 1.05% was the average annual assets-under-management fee reported by advisors using that model in 2024.[66]
  • 12% of UK adults who received regulated financial advice in 2024 paid a one-off fee.[61]
  • 72.4% of financial advisers’ compensation came from asset-based fees in the Cerulli survey reported in 2024.[67]
  • 95.3% of SEC-registered investment advisers received compensation based on assets under management in 2023.[68]
  • 40% of surveyed advisors charged a flat fee, averaging $2,554, in 2024.[66]

Cost reduction in the financial service industry

  • 58% was the average cost-to-income ratio for 35 major banks in the first half of 2024.[59]
  • 34% of financial-services leaders focused on cost management as a priority in 2024.[60]
  • 31% of U.S. finance organizations planned to focus on cash-flow optimization in 2024.[57]
  • 36% of U.S. finance professionals cited poor invoice-status visibility as a leading manual accounts-payable problem.[57]
  • 5% of the outperformance of banks’ total shareholder returns was explained by cost efficiency in McKinsey’s analysis.[26]

Profitability in the financial service industry

  • 11.8% was global banks’ return on tangible equity in 2025, down from 12.4% in 2024.[26]
  • 16% of bank total-shareholder-return outperformance was attributed to growing fee income in McKinsey’s analysis.[26]
  • 10.6% was the average return on equity for EU banks in March 2024.[3]
  • 34% of bank total-shareholder-return outperformance was attributed to revenue growth in McKinsey’s analysis.[26]
  • 9.5% was the trailing return on equity for euro-area banks during 2024.[4]

Financial planning in the financial service industry

  • 78% of surveyed RIA firms described themselves as wealth managers, while 9% identified financial planning as their business model.[69]
  • 42% of advised U.S. respondents were uncertain whether their planner held CFP certification or did not answer in 2024.[70]
  • £19.3 billion was the amount of new investment money reported by UK small advice firms during the previous 12 months in the FCA’s 2025 survey.[61]
  • 4.1 million retail clients were served by UK financial-advice firms in the FCA’s 2025 survey.[61]
  • £1 trillion was the total assets under advice reported for the UK advice market in the FCA’s 2025 survey.[61]

12 Statistics

Product & Service

Activation and engagement vary across products, with 2.3% as the median activation rate and 4.6% retained after three months at the median in the Amplitude benchmark dataset.

Product development in the financial service industry

  • 26% of Kenyan commercial banks introduced innovative market-support products, including customer protection and authentication, during 2024.[71]
  • 58% of Kenyan commercial banks introduced innovations in credit, deposit or capital-raising services, or payments, clearing and settlement, during 2024.[71]
  • 39% of financial institutions surveyed across 11 countries were implementing flexible and agile methods to accelerate product development in 2024.[9]
  • 79% of Kenyan commercial banks introduced an innovative product during 2024.[71]
  • 50% of Kenyan microfinance banks introduced innovative market-support products during 2024.[71]

Product lifecycle in the financial service industry

  • 10.2% was the 90th-percentile monthly new-user growth rate for financial-services products from September 2023 to September 2024.[22]
  • 2.3% was the median activation rate for financial-services products in Amplitude’s 2025 benchmark dataset.[23]
  • 9.0% was the 90th-percentile engagement rate for financial-services products in Amplitude’s 2025 benchmark dataset.[23]
  • 4.6% of customers remained retained after three months at the median financial-services product in Amplitude’s 2025 benchmark.[23]
  • 56% of UK financial-services firms using AI had 10 or fewer AI use cases in 2024.[1]

After-sales in the financial service industry

  • 30% of insurance customers were fully satisfied with customer-service effectiveness in Salesforce’s 2026 financial-services study.[42]
  • 41% of wealth-management customers were fully satisfied with both customer-service speed and effectiveness in Salesforce’s 2026 study.[42]
  • 94% of U.S. consumers rated their bank’s customer service good, very good or excellent in an American Bankers Association survey conducted in 2024.[72]
  • 29% of U.S. retail banking customers likely to switch banks cited excessive or high product and service fees in 2024.[24]
  • 28% of U.S. bank customers reduced spending after repeated negative contact-center experiences, according to Deloitte’s 2026 survey.[2]

Value proposition in the financial service industry

  • 42% of financial-institution decision-makers said customers expected institutions to safeguard their finances during economic downturns in 2024.[9]
  • 61% of consumers in a 2024 credit-union study considered checking accounts among the most important financial services.[73]
  • 29% of consumers across markets said in 2024 that the online service from their financial provider was inadequate.[74]
  • 46% of consumers in a 2024 credit-union study considered personal loans among the most important financial services.[73]
  • 46% of consumers in a 2024 credit-union study considered credit cards among the most important financial services.[73]

13 Statistics

Sustainability & Ethics

ESG risk-management is broadly rated at medium or high importance, with 80% of surveyed financial institutions reporting medium or high importance in 2024.

Sustainability in the financial service industry

  • 80% of surveyed financial institutions rated climate-change and ESG-risk-management importance as medium or high in 2024.[75]
  • 53% of surveyed financial institutions rated the one-to-three-year impact of climate and ESG risks as medium in 2024.[75]
  • 1.9% was the average current-period sustainable financing share of total assets among surveyed banks in the 2024 reporting cycle.[56]
  • 79% of surveyed banks reported targets for sustainable or transition financing in the 2024 reporting cycle.[56]
  • 73% of surveyed financial institutions rated the one-year impact of climate and ESG risks as low in 2024.[75]

ESG in the financial service industry

  • 65% of surveyed banks had evaluated their investment portfolios’ exposure to ESG risk in the Global Banking Benchmark Study.[76]
  • 16% of surveyed financial institutions rated climate-change and ESG-risk-management importance as low in 2024.[75]
  • 53% of surveyed banks with more than $1 trillion in assets had ESG sponsorship and board-level oversight.[76]
  • 31% of surveyed banks had ESG sponsorship and board-level oversight in the Global Banking Benchmark Study.[76]
  • 47% of financial-services organizations gave chief financial officers joint responsibility for ESG disclosures in Deloitte’s survey.[2]

Ethics in the financial service industry

  • 10% was the reduction in adviser misconduct associated with public naming and shaming of high-misconduct firms in U.S. research.[77]
  • 9.1 non-financial-misconduct incidents per 1,000 employees were reported by small firms on average across 2021–2023.[61]
  • 50% of non-financial-misconduct incidents were identified through grievances or similar formal processes in the FCA survey.[61]
  • 1,028 regulated UK wholesale financial-services firms were surveyed about non-financial misconduct during 2021–2023.[61]
  • 23% of reported non-financial-misconduct incidents across surveyed UK wholesale sectors involved discrimination.[61]

CSR in the financial service industry

  • 1 was the country focus of the study’s detailed CSR analysis: Switzerland’s banking sector.[78]
  • 2022 was the latest observation year in a longitudinal study examining CSR, financial performance and risk-taking among European banks.[78]
  • 1 U-shaped relationship was found between ESG-related activity and financial performance in the study of Swiss banks.[78]
  • 50% of non-listed banks additionally reported GRI non-financial performance indicators in a 2026 study of bank CSR reporting.[79]
  • 1 inverted-U relationship was found between CSR-related activity and risk propensity in the study of Swiss banks.[78]

Circular economy in the financial service industry

  • 77% of investment-bank funding was directed to circular-economy recovery businesses in the cited financial-sector analysis.[80]
  • 20% of examined banks issued sustainable bonds whose proceeds supported circular-economy investment in 2024.[11]
  • 46% of insurers had developed action plans to operate circular-economy principles within their financial activities in 2024.[11]
  • €650 million was managed by BNP Paribas Asset Management’s circular-economy ETF as of July 2024.[11]
  • 35% of banks had developed action plans to operate circular-economy principles within their financial activities in 2024.[11]

Carbon footprint in the financial service industry

  • $0.8 trillion was financed by nearly 1,400 large banks for low-carbon energy supply in 2024.[81]
  • 18% of global sustainability-linked loans issued in 2024 were collected by the financial industry, according to OECD analysis.[81]
  • 45 of the 65 largest global banks increased fossil-fuel financing between 2023 and 2024.[82]
  • 0.9 was the ratio of bank-facilitated low-carbon financing to fossil-fuel financing in both 2023 and 2024.[81]
  • $1.6 trillion was provided by banks from 2021 through 2024 to companies expanding fossil-fuel production and infrastructure.[83]

15 Statistics

Globalization & Expansion

Cross-border deal patterns stay domestic-heavy, with 9 in 10 financial-services deals being domestic in 2024 while outsourcing risk remains a concern in 2024.

Globalization in the financial service industry

  • 21% of global GDP is accounted for by trade in services when cross-border trade and foreign-affiliate activity are combined.[81]
  • $3.0 trillion was the global corporate and investment banking revenue pool in 2024, up 4.4% year over year.[26]
  • Approximately one-third of global financial-services deal volume came from each of EMEA, Asia Pacific and the Americas in 2024.[28]
  • $47 billion of the fourth-quarter increase in cross-border lending to emerging-market and developing economies went to emerging Asia-Pacific.[3]
  • 9 in 10 financial-services deals were domestic in 2024, compared with 6 in 10 in 2021.[26]

Cultural adaptation in the financial service industry

  • 84% of financial-services employees globally trusted their employer in the 2024 Edelman sector survey.[48]
  • 51% of banking customers said they feel bombarded by advertising from banks.[27]
  • 40% of customer queries were handled independently by the AI assistant Finn at Dutch neobank Bunq.[88]
  • 58% of banking customers purchased a financial product from a new provider in the previous 12 months.[27]
  • 65% of European Gen Z banking customers said they would be willing to try an e-wallet provider, compared with 30% of boomers.[26]

Supplier management in the financial service industry

  • 7% was the increase in banks’ IT-outsourcing expenses in 2023, exceeding general inflation.[17]
  • 21% of supervised banks showed weaknesses in the design or implementation of outsourcing contingency and exit plans in 2024.[17]
  • 70% of outsourcing contracts at significant European banks involved processing personal data.[17]
  • More than 70 significant European banks outsourced critical functions to providers outside the European Union.[17]
  • 8% of supervised banks reported lacking a comprehensive outsourcing-risk framework in 2024.[17]

Stakeholder management in the financial service industry

  • 65% of global respondents trusted banks to do the right thing in 2024.[48]
  • 88.5% of financial-services customers ranked data-security measures as important for establishing trust in 2024.[89]
  • 62% of people globally trusted financial-services companies to do the right thing in 2024.[48]
  • 93% of business executives said building and maintaining trust improves the bottom line in PwC’s 2024 Trust Survey.[28]
  • 21% of UK adults gave banks a high trust score of 9 or 10 in 2024.[61]

Distribution channels in the financial service industry

  • 84% of consumers used online banking to access their primary bank in a Deloitte global survey.[2]
  • 42% of bank customers who filed a complaint used contact centers, compared with 26% who used branches and 30% who used digital channels.[2]
  • 88% of surveyed US credit-union members were digitally engaged at some level.[90]
  • 35% was the increase from 2021 to 2023 in deposit-account openings per 1,000 active customers at mobile-leading banks.[26]
  • 61% of BBVA sales were closed through digital channels five years after digital channels accounted for 25% of product sales.[27]

Key questions about the Financial Service Industry

How large is the global financial industry, and what share sits outside banks?
Global financial assets totaled $503.7 trillion at the end of 2024. Nonbank financial intermediaries accounted for 51.0% of the total in 2024.
What growth rate does the financial sector show recently?
Financial-sector growth was 4.3% in 2025. Global financial assets increased 6.3% in 2024.
Which companies lead the financial service industry?
Morgan Stanley stands out for investment banking and wealth because it reported $70.6 billion of full-year 2025 net revenues, while Mastercard focuses on card-payment network throughput since it processed 175.5 billion switched transactions in 2025.
Which technology shifts are most common in financial services operations and analytics?
AI adoption is widespread, with 94% of surveyed large UK and international banks using AI in 2024. Automation in record-to-report processes reached 66% in 2025, and 77% of organizations automated general accounting processes in 2025.
How concentrated is banking-system ownership, and what is the universal-bank mix?
Traditional banks held close to 98% of global banking-system assets in 2024. Universal banks accounted for approximately 66% of global banking assets in 2024.
What do compliance and risk-management priorities look like around data and third parties?
Globally, 47% of banking and capital-markets firms ranked third-party risk-management compliance as their greatest regulatory barrier in 2026. Globally, 42% of banking and capital-markets firms ranked data localisation as their No. 2 regulatory barrier in 2026.
Reference

Cite This Report

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APA
Elif Demirci. (2026, February 13). Financial Service Industry Statistics. Gitnux. https://gitnux.org/financial-service-industry-statistics
MLA
Elif Demirci. "Financial Service Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/financial-service-industry-statistics.
Chicago
Elif Demirci. 2026. "Financial Service Industry Statistics." Gitnux. https://gitnux.org/financial-service-industry-statistics.

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