
Due to the increasing demands of consumers regarding managing money, making payments, and accessing credit with minimum hassle, the fintech industry is gaining momentum as it integrates financial services within non-financial environments. According to some reports, nearly 90% of Americans use fintech applications to manage their financial lives.
Neo banks, buy-now-pay-later (BNPL), embedded finance, digital banking, platform-as-a-services (PaaS) solutions, and several other fintech trends are expected to fuel the industry's growth this year. The global financial services market is expected to reach $26.5 trillion this year, and the global fintech market is expected to grow at a 23.58% CAGR through 2025.