Fintech companies are changing the traditional financial sector by integrating technological innovation into traditional financial products. The further advancement in Big Data, artificial intelligence (AI), and machine learning should enable the fintech industry to reach $ $324 billion by 2026, growing at a CAGR of 23.4%.
However, the increasing industry regulations and industry-wide challenges has caused the fintech stocks to pull back from their November 2021 highs, as evidenced by the 32% decrease in the Global X FinTech Thematic ETF (FINX) over the past three months. Therefore, for contrarian investors, now could be a good time to scoop up shares in fintech stocks.
