Mckinsey fintech report 2023.

Mckinsey fintech report 2023 Oct 7, 2021 · Last October, when we published McKinsey’s 2020 Global Payments Report, it was already clear that the pandemic’s economic impact would lead to the first decline in global payments revenues in 11 years. Africa's fintech market is expected to grow fivefold by 2028, reaching $47B in revenue (McKinsey & Co McKinsey & Company Jan 5, 2025 · Fintech in Africa: a market full of untapped potential. Sixty-two experts from banks, governments, regulators 10“Rain partners with Bahrain Fintech Bay to unlock opportunities,” Zawya, June 28, 2022. Dec 6, 2023--Listen. 5 “Analytics transformation in wealth management,” McKinsey, January 11, 2022. 2 In late 2020, McKinsey conducted an online survey to explore the emerging payments landscape in Africa and the Middle East. of approximately 17,000 personal finance consumers in 15 Asian markets. May 15, 2024 · McKinsey & Company today released its 2023 ESG Report, “Accelerating sustainable and inclusive growth for all. But in 2022, the time between funding rounds for fintechs increased by more than five months from the first to the fourth quarter, and the average value of funding rounds decreased by 50 percent over the same period. The February–March period in 2023 witnessed some significant developments in the global FinTech ecosystem. 8 billion, up from $1. Our research into financial-technology (fintech) companies has found the number of start-ups is today greater than 2,000, compared with 800 in April 2015. 1 The model is based on McKinsey’s Global Banking Revenue Pools, 2022; McKinsey’s Global Payments Map, 2022; consumer and merchant Sep 7, 2022 · Although cash is still king in Africa, a McKinsey survey suggests that its supremacy is likely to be challenged in the coming years as e-payments gain momentum. So far, the impact of the crisis on fintech has been mixed. From January 2019 to December 2023, FDMI delivered a 17 percent CAGR in TSR, compared with 10 percent for financial services. This was accompanied by a continued drop in fundraising (32 percent lower in 2024), led primarily by declines in China, as well as lackluster performance (less than 0. It also examines the regulatory environment for fintech companies and the impact of emerging technologies. In this report, we examine how fintechs can continue to grow in strength and relevance for customers, the overall financial ecosystem, and the world economy, even in disruptive times. At the same time, more than half of respondents in most Asia–Pacific markets report that cash is used for less than 30 percent of weekly spending. ” The report describes how McKinsey has partnered with its clients, colleagues, and communities to drive progress in the societies where it operates worldwide. compared with a 28 percent drop in the Nasdaq composite. As always, these insights are informed by McKinsey’s Global Payments Map and by continuing dialogue with practitioners throughout the payments ecosystem. one of the largest shares worldwide (Exhibit 3), while small and medium-size enterprises (SMEs) continue to face binding credit constraints. These trends are also coinciding with—and in many ways catalyzing—the maturation of the fintech industry. Oct 17, 2024 · Insights from Global Insurance Report 2025 show unlocking the insurance distribution opportunity is critical to further driving sustainable growth. Changes have been under way for some time, but the events of the past 18 months have brought the needs of corporate treasurers and CFOs into sharp relief. We examined more than 3,000 companies in the McKinsey Panorama FinTech database and found that the share of fintechs with B2B offerings has increased, from 34 Oct 10, 2024 · Globally, according to McKinsey Panorama, banking 1 Includes corporate banking, investment banking, and retail banking. 7 McKinsey Global Payments Map, 2023. Jun 20, 2022 · Trotz der Herausforderungen im aktuellen Umfeld sehen die Autor:innen der Studie einen positiven Trend im Fintech-Ökosystem Deutschlands: „Fintechs gewinnen an Relevanz für unsere Gesellschaft und werden die Finanz-Ökosysteme immer stärker prägen“, sagt Max Flötotto, Senior Partner im Münchener Büro von McKinsey und Co-Autor der Studie. 2 “The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. CEST, to discuss how business leaders can gain an edge by identifying near-term and long-term strategic actions in the face of rapid changes to trade policy. Source: McKinsey Global Banking Pools, MGI Digital Finance for all 2016 Global FinTech growth is driven by a combination of factors –increased funding, modernized payment infrastructure, the rise of tech players and the sharing of data and technology. Jan 17, 2024 · Performance in the first three quarters of 2023 has remained positive, albeit not as strong as in 2022. In 2023, this spending totaled $650 billion, 1 2024 Enterprise IT Spending Forecast for Banking and Investment Services, Gartner, 2023. Dec 20, 2023 · Philippines Fintech Map 2023, Source: Fintech Philippines Report 2023, Fintech Philippines, Fintech Alliance PH, Alibaba Cloud, Aug 2023. Even just a few years ago, the African banking sector was evolv-ing relatively slowly, with the same banks Jul 17, 2023 · As of 2021, the domestic C2B market accounted for around $450 million in revenue, with merchant acquiring being the most attractive part of this value chain. 1 The correlation analyses considered 25 attributes and the reported effect of gen AI use on organizations El Global Payments Report 2023 de McKinsey arroja luz sobre un sector cambiante y explica cómo los bancos y otras entidades pueden capitalizar las nuevas dinámicas. Vik Sohoni is a senior partner in the Chicago office. THE BOTTOMLINE: ELEVATION FINTECH REPORT 2023 The macro view India fintech -journey so far § Where have fintechs focused § Ecosystem impact § Drivers of growth and challenges Looking ahead, where can fintechs unlock most value SECTION 3 Key elements of the 1 to N journey §Evolving business models to sustain scale and profitability Jan 22, 2024 · The corporate and investment banking (CIB) sector is undergoing a significant transformation, marked by several major shifts including technological advancements in client engagement, changes in the regulatory and risk management environment, and new market structures, which are creating both opportunities and challenging for the industry, a report by global consultancy McKinsey and Company says. May 6, 2025 · Africa’s fintech start-ups are leveraging mobile technology and innovative platforms to transform digital banking. 1 We define fintech players as start-ups and other companies that use technology to conduct the Source: Capital IQ, Valor – Pipeline, SlingHub McKinsey LatAm Startup Study (2023) Research. Within its fintech area, the most widely used service is to buy now and pay later. Based on research and interviews with more than 100 founders, fintech and banking executives, investors, and senior Sep 18, 2023 · The 2023 McKinsey Global Payments Report shines a light on a changing industry and explains how banks and others can capitalize on new dynamics. its highest level since the 2008 financial crisis. Oct 23, 2024 · Over the past few years, global technology spending in banking has been increasing 9 percent a year, on average, outpacing revenue growth of 4 percent. If all countries could match the best in region, the economic benefits would be considerable, reveals a recent report by McKinsey. PH is an important body of work, offering a dependable source of information on fintech and our present digital landscape. Share. It builds on the analysis contained in our 2022 report on the state of fintechs in Africa. May 3, 2023 · We believe that the insights presented in the report—which are based on extensive research and interviews with industry experts, fintech startups, investors, and regulators—will provide valuable information for entrepreneurs, investors, policymakers, and incumbents in both the fintech sector and the overall financial services industry. Interest rates increased by a further 100 basis points, and equity markets briefly achieved full recovery before sliding again—the S&P 500 was up 9 percent at the end of the third quarter, compared with 20 percent at the peak. Meanwhile, global venture capital (VC) fintech investment in 2018 has already reached $30. Our perspectives are informed by ongoing dialogue with industry leaders and McKinsey’s global network of payments experts, and by our work with payments providers in the region. m. Source: McKinsey Report Fintechs: A new paradigm of growth (October 2023) fintechs-a-new-paradigm-of-growth. Explore the pivotal insights and trends shaping the future of global payments . Emerging stronger, fitter, faster: The rise of the Asian corporation. 1 trillion—outpacing nominal global GDP by half a percentage point 1 Global 2023 GDP and premiums were calculated assuming fixed 2022 exchange rates (to convert GDP and premiums from local currencies to US dollars) for the purposes of measuring increases in Jul 15, 2024 · The EF market generated an estimated €20 billion to €30 billion in Europe in 2023, about 3 percent of total banking revenues. 5 percent in 2022–23 to $1. Feb 13, 2025 · In the report, McKinsey analysis suggests that fintech revenues could reach up to $47 billion by 2028, representing about a five-fold increase from its value of $10 billion in 2023. 5 GLOBAL FINTECH 2023: REIMAGINING THE FUTURE OF FINANCE Sources: Fintech Control Tower, Capital IQ, BCG analysis. McKinsey’s Redefining Success: A New Playbook for African Fintech Leaders report highlights that Africa’s fintech industry is gearing up for explosive growth, with revenues expected to jump from $10 billion in 2023 to $47 billion by 2028. Mar 12, 2025 · Our survey analyses show that a CEO’s oversight of AI governance—that is, the policies, processes, and technology necessary to develop and deploy AI systems responsibly—is one element most correlated with higher self-reported bottom-line impact from an organization’s gen AI use. The first chapter of this report explores these dynamics in greater detail. Trotz der Herausforderungen im aktuellen Umfeld sehen die Autor:innen der Studie einen positiven Trend im Fintech-Ökosystem Deutschlands: „Fintechs gewinnen an Relevanz für unsere May 24, 2023 · Global fintech valuations dropped in 2022. 1 In the 2017 version of this report, we included Myanmar, but not Sri Lanka, in the emerging markets group. Unless otherwise specified, all conclusions and insights in this report draw on the findings of the consumer survey inde - pendently conducted by McKinsey. Family offices have been slower to catch on in Asia–Pacific than in Europe and North America; about 5 percent of Asia–Pacific’s ultra-high-net-worth (UHNW) households have single-family offices, while in Europe and North America, the share is greater than 15 Here are a few incumbent FinTech initiatives launched by Indian financial institutions in December 2023: Intellect Global Consumer Banking (iGCB), the consumer banking arm of Indian banking tech provider Intellect Design Arena has been selected by OTP Bank, a listed retail and corporate bank based in Budapest, to upgrade its core banking system. Oct 7, 2022 · In a period of ongoing macroeconomic and geopolitical upheaval, the global payments ecosystem is once again demonstrating resilience. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive revenue by 2022 or 2023. com leads $110 million round for Saudi fintech Tamara,” Bloomberg, April 22, 2021; Oct 11, 2021 · In particular, digital natives have displayed that they are open to embedded finance propositions such as buy-now-pay-later services. Dies sind Ergebnisse der neuen Studie "Europäische Fintech-Champions – Made in Germany" der Unternehmensberatung McKinsey & Company. En la antesala de la próxima era de los pagos: Oportunidades futuras para los bancos | McKinsey Mar 14, 2025 · September 25, 2023 - Article - McKinsey Quarterly. Fintech fared worse than the broader venture market, which saw funding decline 42% YoY in 2023. The lockdowns and government-driven stimulus responses have accelerated underlying trends Dec 22, 2024 · McKinsey & Company Heralds new era for Fintech . 2 percent IRR through the first three quarters of 2024). India’s Unified Payment Interface (UPI) offers an invaluable case study for fintech stakeholders on how and where interoperable payment systems can power up opportunities, Digital Banking Transformation Report 2023 4 The African Digital Banking Transformation Report 2023 ¶ igital technology and platforms are making the African banking sector increasingly dynamic and responsive to customer require-ments. The McKinsey Global Institute was established in 1990. Sep 11, 2023 · On average across the Asian market, RMs spend 60 to 70 percent of their time on non-advisory activities due to the lack of unified platforms and high degree of manual data processing. The 2023 McKinsey Global Payments Report Aug 31, 2023 · Between 2018 and 2022, equity infusion has gone up to $6 billion from around $2 billion, the report from Elevation Capital found. May 7, 2024 · Those are some of the key findings from our two comprehensive payments surveys polling more than 15,000 people in Spanish-speaking Latin America in 2021 and 2023. 1 McKinsey banking data and analysis; to estimate the size of the addressable EF market as far as 2030, McKinsey has developed a market-sizing model that encompasses 23 countries, six industry verticals, and 25 Dec 6, 2023 · The fintech landscape is rapidly evolving, and for founders, staying ahead of the curve is crucial. We acknowledge that these KPIs do not constitute a comprehensive Dec 17, 2018 · Almost 80 percent of financial institutions have entered into fintech partnerships, according to McKinsey Panorama. 4 The global payments report: Rebuilding payments for a smarter world, FIS and Worldpay from FIS, 2021. Read more This may now be changing. pdf (mckinsey. Just under half of these are fintechs, which are making it their business to disrupt and augment traditional financial services. With its population expected to nearly double to 2. Here you can find the full content of Latam Digital Report 2023. No contexto da pesquisa, as empresas foram categorizadas em quatro grupos de desempenho de acordo com seu grau de maturidade nas dimensões e práticas avaliadas: as empresas “Líderes digitais” com pontuação acima de 51 na escala da ferramenta A&DQ; as “Ascendentes” com pontuação acima de 35, mas inferior à das líderes digitais; as “Emergentes” com pontuação acima de 25 Oct 6, 2023 · Usage of cash globally is decreasing at a consistent pace as electronic transactions, including those involving instant payments and digital wallets, are taking off, a new report by McKinsey shows. 2 “Global Banking Annual Review 2023: The great banking transition,” McKinsey, October 10, 2023. 7 trillion (exhibit). Exhibit 1 - In Q2 2021, Peak Valuations Reached an Inflated 20x Revenue Multiple Africa’s fintech start-ups are leveraging mobile technology and innovative platforms to transform digital banking. 12 This metric excludes rebates and discounts paid by manufacturers to pharmacy benefit managers and plan sponsors; it includes Oct 18, 2022 · The most direct path to success is to target profit pools in specific businesses of the universal banking model—daily banking (deposit accounts, payments, and credit cards), navigating life events (with complex lending products), or building and protecting wealth—where the bank can define and deliver a value proposition that can win in our new digital age. Oct 25, 2024 · In the United States, in-app and in-store are the fastest growing channels for digital payments adoption. The 2023 McKinsey Global Payments Report Feb 28, 2019 · Somesh Khanna is a senior partner and Xavier Lhuer is a partner, both in McKinsey’s New York office. African fintech is emerging as a hotbed for investment, with average deal sizes growing and the proportion of fintech funding in Africa increasing over the past year, bringing jobs and growth to African economies. 6 trillion to $4. 2. com)´ Given these projections, what are the macro trends driving fintech growth in Europe? And how do these players cooperate with the banking sector to harness their The 2023 McKinsey Global Payments Report shines a light on a changing industry and explains how banks and others can capitalize on new dynamics. Which technology trends matter most for companies in 2023? New analysis by the McKinsey Technology Council highlights the development, possible uses, and industry effects of advanced technologies. 4 trillion annually in value across the 63 use cases it analyzed. No mesmo período, o número de unicórnios do setor saltou de 39 para 272, com uma avaliação combinada de US$ 936 bilhões. Max Flötotto is a senior partner in McKinsey’s Munich office; Brian Ledbetter is a senior partner in the London office, where Tunde Olanrewaju is the managing partner of McKinsey’s UK, Ireland, and Israel offices; Alexis Krivkovich and Marie-Claude Nadeau are senior partners in the Bay Area office; and Eckart Mar 22, 2024 · The McKinsey Global Institute (MGI) estimates that across the global banking sector, gen AI could add between $200 billion and $340 billion in value annually, or 2. 5bn in 2022 to almost US$4. May 3, 2023 · The report, Global Fintech 2023: Reimagining the Future of Finance, provides a comprehensive overview of fintech’s future landscape globally and explores the latest trends and opportunities in the global fintech market. Given the impact of the changes and challenges in 2020, however, we are taking a different lens to our analysis, focusing more on the current moment Aug 23, 2021 · However, the high costs of marketplaces—up to 35 percent of revenue—may drive a longer-term shift to fintech solutions that enable merchants to set up and manage their own online presence. In McKinsey’s annual year in review, we look back at our favorite articles, interviews, and highlights from our 2023 ‘Insights to Impact’ publishing journey. The report, titled Digital and AI-enabled wealth management: the big potential in Asia Oct 14, 2022 · September 25, 2023 - Report. Aug 22, 2023 · Outside of FinTok, companies can reach Gen Zers on fintech platforms: Gen Z accounts for the biggest share of fintech users, and 29 percent of those Gen Zers using fintech have more than one account, according to McKinsey Global Institute director Olivia White and coauthors. A McKinsey Africa podcast with Ashraf Sabry, founder and CEO of Fawry October 26, 2023 - Africa’s fintech start-ups are leveraging mobile technology and innovative platforms to transform digital banking. Of this, C2B merchant payments accounted for $320 million in revenue. May 13, 2025 · What’s next for China’s booming fintech sector? The disruptive technologies driving start-ups and revolutionizing banking, payments, and insurance. 1 Facts and figures cited in this article come from McKinsey’s analysis of data from its FDMI and corporate and investment banking (CIB) revenue pools According to McKinsey’s latest Global Private Markets Review, private markets entered a slower era in 2023, with macroeconomic headwinds, rising financing costs and an uncertain growth outlook weighing on fundraising, deal activity and performance. The Philippines Fintech Report 2023 initiated by Fintech. Between 2020 and 2021, the number of tech start-ups in Africa tripled to around 5,200, and just under half of these are fintechs, write senior partner Max Flötotto, partner Mayowa Kuyoro, and managing partner Tunde Olanrewaju in a recent report. May 3, 2023 · Corporations receive 76 percent of all loans, 8 These figures are based on the most recent financial statements of the top ten universal banks in the Philippines, which together account for about 76 percent of the banking system’s total loan portfolio. Aug 31, 2023 · The report captures Elevation’s deep thesis on the fintech sector, insights from a comprehensive survey of 70+ industry experts and in-depth conversations with ~30 industry leaders from prominent fintechs and financial services players. Historically, bank-provided treasury platforms have focused on Foreword 2 The 2021 McKinsey Global Payments Report 5 GLOBAL FINTECH 2023: REIMAGINING THE FUTURE OF FINANCE Sources: Fintech Control Tower, Capital IQ, BCG analysis. 3 Kết quả này vẫn đúng trong năm 2023; 70% người tiêu dùng Việt Nam có kế hoạch Sep 9, 2024 · Asia–Pacific’s family offices differ in some significant ways from their Western counterparts, offering new opportunities. 11“ Europe’s fintech opportunity,” McKinsey, October 26, 2022. Some of the biggest fintechs have seen their valuations drop by tens of billions of dollars. McKinsey’s Jun 14, 2023 · Similarly, by May 2023, Anthropic’s generative AI, Claude, was able to process 100,000 tokens of text, equal to about 75,000 words in a minute—the length of the average novel—compared with roughly 9,000 tokens when it was introduced in March 2023. Today, Canadian funding for fintech as a percentage of banking revenues is similar to that in Australia, compared with Jun 17, 2022 · Der deutsche Fintech-Sektor könnte massiv wachsen, wenn er zu führenden europäischen Fintech-Ökosystemen aufschließt. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories 2023 ESG Report: Accelerating sustainable and inclusive growth for all We are driving measurable progress on sustainable and inclusive growth in the societies where we operate. report on the global payments industry. Usage of digital payments for in-app purchases in the United States has reached 60 percent, an increase of 8 percentage points since 2019. Dec 9, 2020 · Our report, A brave new world for global banking: McKinsey global banking annual review 2016, finds that of the major developed markets, the United States banking industry seems to be best positioned to face these headwinds, and the outcome of the recent presidential election has raised industry hopes of a more benign regulatory environment Mar 28, 2024 · The scope of DEI metrics provided to institutional investors during fundraising has also increased in recent years: more than half of PE firms now provide data across investing teams, portfolio company boards, and portfolio company management (versus investment team data only). While personal lines P&C insurance premiums grew by 9. The 2023 McKinsey Global Payments Report shines a light on a changing industry and explains how banks and others can capitalize on new dynamics. 1 A WealthTech is defined as any technology-enabled wealth fintech that facilitates the distribution, manufacturing May 26, 2023 · So much so that a new report from McKinsey analysts estimates that MENAP fintech revenue could increase from US$1. ROEs have reached their highest point since the onset of the global financial crisis, roughly 12 percent in 2023, significantly outperforming recent historical averages, including the roughly 9 percent average the industry experienced in 2013–20. This 1 See “Risk, resilience, and rebalancing in global value chains,” McKinsey Global Institute, August 2020, on McKinsey. Oct 10, 2023 · This report is a collaborative effort by Debopriyo Bhattacharyya, Miklós Dietz, Alexander Edlich, Reinhard Höll, Asheet Mehta, Brian Weintraub, and Eckart Windhagen, representing views from McKinsey’s Global Banking Practice. Emerging markets leap forward in digital banking innovation and May 24, 2023 · The 2023 McKinsey Global Payments Report shines a light on a changing industry and explains how banks and others can capitalize Article Fintech in MENAP: A solid foundation for growth financial sector, in 2017 McKinsey surveyed 900 consumers of financial services across Indo-nesia on their banking habits—part of a broader survey. complicated picture for fintech founders and investors. Doch dieses Potenzial lässt sich nur erschließen, wenn in wichtigen Bereichen schnell und konsequent gehandelt wird. 3 A sustained overall valuation drop, with the public market fintech index F-Prime down by about 48 percent Fintechs (and tech-led BFSIs) will play an outsized role in India’s ambitious economic and social aspirations over the next decade. Dec 8, 2022 · Fintech has moved from the fringes of European finance to its core, but performance varies widely. Our 2023 ESG Report details how we are making an impact through our client work, our insights, our actions, and our giving. Abandoning the vertical scrolling of former editions, the new design includes a horizontal scrolling effect that maximizes the use of screen space and explores complex concepts in small, digestible chunks. Reimagine the role of technology to be a business and innovation partner Dec 14, 2023 · De 2019 a 2023, as fintechs de capital aberto de todo o mundo quase dobraram sua capitalização de mercado ao alcançar US$ 550 bilhões. 1 The correlation analyses considered 25 attributes and the reported effect of gen AI use on organizations Feb 11, 2019 · To understand the dynamics of the personal financial sector, in 2017 McKinsey surveyed 900 consumers of financial services across Indonesia on their banking habits—part of a broader survey of approximately 17,000 personal finance consumers in 15 Asian markets 1 For our analysis, Developed Asia comprised Australia, Hong Kong, Japan, Singapore Jan 16, 2024 · Get to know and directly engage with senior McKinsey experts on fintech. Feb 19, 2025 · Published in three chapters—life, commercial P&C, and personal lines P&C—McKinsey’s Global Insurance Report 2023 offers a new level of granularity and precision of recommendations for how insurers can accelerate growth and exceed performance targets. 87MB) published by McKinsey. 5 percent to $2. In this latest edition of our Future of Fintech report, we leverage SVB’s unmatched proprietary data and deep sector knowledge to provide an in-depth look at the health and productivity of the fintech sector. 2 “Introducing Claude,” Anthropic PBC, March 14, 2023; “Introducing 100K Context Feb 19, 2025 · As anticipated by McKinsey’s 2024 M&A report, scale and capability deals proved to be the driving force in deal rationales 1 Jake Henry and Mieke Van Oostende, “Top M&A trends in 2024: Blueprint for success in the next wave of deals,” McKinsey, February 20, 2024. SME payments and online acquiring are likely to be important battlefields, given the promising growth prospects of online merchant sales in the region. 1. — more than 30 interviews with fintech founders and management teams, top management of established banks, leading investors, and representatives of regulatory authorities Sources for this report 1 We define “fintech” in this article as financial-services companies driven by digital technology (excluding direct banks) that were launched after Dec 20, 2022 · The fintech pillar is the biggest driver of Kaspi’s revenue. Jan 11, 2024 · The fintech industry is undergoing a sea of change. Report - MGI Research. continent is experiencing a “fintech eruption”, and local and international investors are taking notice. Fintech net revenues by region, US$ billion, Source: Fintechs: A new paradigm of growth, McKinsey, October 2023 Next in the report, we look at the evolution of global transaction banking. institution. The share of buy-now-pay-later transactions in Asia doubled from 2019 to 2020, according to WorldPay research. Jan 10, 2025 · Total pharmacy dispensing revenue continues to increase, growing by 13 percent year-over-year to $620 billion in 2023, with projections of a 5 percent revenue CAGR from 2023 to 2028, reaching a total of $800 billion. Exhibit 1 - In Q2 2021, Peak Valuations Reached an Inflated 20x Revenue Multiple 5 GLOBAL FINTECH 2023: REIMAGINING THE FUTURE OF FINANCE Sources: Fintech Control Tower, Capital IQ, BCG analysis. Dec 8, 2023 · The McKinsey Quarterly Five Fifty, a briefing that can be consumed in five minutes (or 50, for those who prefer a deeper dive), got a new look this year. Oct 13, 2022 · The value of this integrated experience for customers helps explain why embedded finance reached $20 billion in revenues in the United States alone in 2021, according to McKinsey’s market-sizing model. Nov 8, 2023 · This share is set to increase to 29% in aggregate by 2028. Dec 5, 2023 · The McKinsey Global Institute estimates that among industries globally, gen AI could add the equivalent of $2. 4 Database on Indian economy, Reserve Bank of India, July 2022; S&P Global, July 2022; McKinsey’s global banking annual review, McKinsey, December 1, 2022; Panorama Fintech, McKinsey, December 2022. Respondents to our 2023 survey overwhelmingly indicated that they prefer debit cards, credit cards, and mobile payments over cash. Following an exciting period of hypergrowth, 2023 was widely recognised as being the year of consolidation for fintech, as the market matured and countless industry players pressed on with digital transformation efforts. 1 “The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. Aug 15, 2023 · Web3 is a term used to describe the next iteration of the internet, one that is built on blockchain technology and is communally May 27, 2024 · Figure 1: Projection of fintech revenues globally. In addition, our knowledge partner, McKinsey and Company, provided the analytical fact base for the report Sep 23, 2020 · The World FinTech Report 2020 highlights that for banks to remain appealing and competitive in a shifting landscape, they need to transform into agile and customer-centric organizations by embracing technology, as well as taking on a specialized role, rather than a universal one, such as supplier or aggregator within the new open ecosystem. Blog Post Banking trends snapshot: The demographic digital divide Aug 2, 2023 · Financial performance: Indian banks have led with healthy credit growth of around 10 percent over the past decade, with higher ROAs than global peers that have resulted in a valuation premium. 1 Feb 13, 2025 · Asia was the only region that saw a decline in assets under management (AUM) last year, dropping by 5. 8 to 4. 19 Based on McKinsey analysis of PitchBook deal status data, November 28, 2023. Note: The Public Fintech list considers market capitalization and revenues for each quarter from 85 public fintechs from different geos and segments. Sep 23, 2021 · In emerging Asia–Pacific, fintech apps and e-wallet penetration reached 54 percent in 2021, compared with 43 percent in developed Asia–Pacific. EDT / 5:00p. The analysis is based on McKinsey’s Global Payments Map, covering more than 25 payment products in 47 countries, accounting for 90 percent of global GDP. Apr 16, 2024 · Between 2017 and 2023, VC funding for Canadian fintechs grew at 1. The 2023 McKinsey Global Payments Report Nov 19, 2024 · Personal P&C: Opportunities amid challenges. We begin by assessing the state of the industry. Our mission is to provide a fact base to aid decision making on the economic and business issues most critical to the world’s companies Jul 25, 2016 · However, our most recent analysis suggests that the structure of the fintech industry is changing and that a new spirit of cooperation between fintechs and incumbents is developing. In the Philippines, fintech innovation has remained so far limited compared with neighboring markets including Indonesia and Singapore, focusing mainly on payment. This report explores the underlying value drivers of Nigeria’s fintech sector and how these may shift post COVID-19. Sep 12, 2023 · Boston Consulting Group is an Equal Opportunity Employer. Boston Consulting Group Feb 17, 2023 · But to tap into this opportunity, services providers will need to embrace technology and digital platforms to not only provide customers the services they expect, but also gain in productivity and efficiency, a new report by global consultancy McKinsey says. The World Economic Forum and McKinsey & Company's new report Fuelling Innovation: Closing Fintech Funding Gaps analyses global disparities in fintech VC funding and proposes strategies to address these gaps and foster innovation. Jul 16, 2024 · Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. Aug 30, 2022 · Between 2020 and 2021, the number of tech start-ups in Africa tripled to around 5,200 companies. 8 percent per year, on average, compared with 18 percent in the United States. Global • As per a report by Juniper Research, credit cards issued through digital platforms will reach 120 million in 2023. Oct 24, 2023 · McKinsey’s research shows that revenues in the fintech industry are expected to grow almost three times faster than those in the traditional banking sector between 2023 and 2028. The Indonesia research shows a continuation Feb 29, 2024 · Many fintechs may look like great targets for banks seeking to build capabilities, especially in technology and talent, and the sharp drop in fintech valuations in 2022 might appear to signal that the subsector is ripe for transactions. Em 2022, porém, os investimentos foram reduzidos. EUR gesteigert werden. not Aug 31, 2023 · Elevation Capital, with McKinsey & Company as Knowledge Partner, released The Bottomline: Elevation Fintech Report 2023, providing a macro view of fintechs in India and their impact on the Nov 20, 2023 · APAC wealthtech assets under management and revenue pools, Source: WealthTech in Asia-Pacific: The next frontier in financial innovation, McKinsey, Oct 2023 APAC’s wealth opportunity Wealth management remains a nascent industry in APAC, with just around 40-45% of personal financial assets (PFA) in cash and deposits. We would like to show you a description here but the site won’t allow us. 5 billion people by 2050, the continent presents myriad opportunities for robust, inclusive growth that harness its rich natural resources and abundant human potential to increase Oct 3, 2023 · The McKinsey 2023 Global Payments Report unveils a realm where regions experience unprecedented revenue hikes, digital transactions become paramount, and new payment business strategies are essential for navigating through the intricate financial ecosystem. Global return on tangible equity reached 13 percent in 2023, 1 McKinsey Panorama; S&P Capital IQ. The "Big Four" fintech hubs South Africa, Nigeria, Egypt, and Kenya accounted for 76% of total funding. The Indxx Global Fintech Thematic Index lost more than 55 percent off its peak in 2021, 16 Indxx Global Fintech Thematic Index, January 26, 2023. A few of these developments have been curated and are outlined below. The Global Banking Annual Review 2023 October 2023 This report is a collaborative effort by Debopriyo Bhattacharyya, Miklos Dietz, Alexander Edlich, Reinhard Höll, Asheet Mehta, Brian Weintraub, and Eckart Windhagen, representing views from McKinsey’s Global Banking Practice. 7 percent of total industry revenues, largely through increased productivity. How Asia is reinventing banking for the digital age. On the other hand, North America, which accounted for 48% of worldwide fintech revenues in 2022, is expected to decrease its share to 41% by 2028. (80 percent of total industry deal value). February 11, 2020 - Connect with McKinsey Vietnam. Exhibit 1 - In Q2 2021, Peak Valuations Reached an Inflated 20x Revenue Multiple Sep 4, 2024 · Venture capital (VC) plays a key role in enabling fintech innovation, but many companies struggle to access it. This transformation — where fintech is making financial services more accessible, affordable and delightful — represents a $400 billion value-creation opportunity by 2030. com. 2 “Fintech in Africa: The end of the beginning,” McKinsey, August 30, 2022. In their hypergrowth stage, fintechs had access to capital that allowed them to be bold in their business strategies. Sep 11, 2023 · an expanding cohort of specialists, foreign institutions, and fintech companies that often bring more innovative products and services to the market, raising customer expectations and setting new standards for banking practices. 8 The remainder is accounted for by large-value C2B payments, which banks tend Nov 28, 2023 · As a result, we estimate that the revenue pool for money market funds in the United States has more than doubled over the first eight months of 2023 to about $13 billion, 1 Estimate based on comparing US money market funds’ annual net revenues as of December 31, 2022, and August 31, 2023, excluding amounts waived because of fee waivers. I delved into McKinsey’s recent report, which identified Join McKinsey senior partners Cindy Levy and Shubham Singhal on Thursday, May 22 at 11:00a. This would more than double fintech’s share of financial services revenue. 27 Dec 10, 2024 · This report explores the evolving fintech landscape, unpacks the lessons learned to date, and explores emerging trends and opportunities across the continent. This body of work draws substantially from articles authored by McKinsey experts around the fintech industry has a vital opportunity to capture learnings from other relevant fintech markets around the world. 1 “African tech start-up funding skyrockets, with fintech a big winner,” CIO, February 6, 2022. 4 “The state of diversity in global private markets: 2023 Jun 5, 2023 · Africa is home to the world’s youngest and fastest-growing population, burgeoning cities, and bold innovations in everything from fintech to clean energy. 8 billion in 2011 (Exhibit 1). Jan 18, 2024 · Globally, funding to fintech startups fell 50% YoY, slipping below $40B for the first time since 2017. Oct 26, 2022 · Finally, for scaling, we analyzed the number of fintech unicorns 8 A fintech unicorn is defined here as a technology-based company with a valuation exceeding $1 billion. The industry fulfills banking’s basic promise of financing the working capital necessary to run any business. 1 Fintech companies are undoubtedly having a moment (Exhibit 1). per capita in 2021 and the size of the fintech workforce as a proportion of the total workforce in 2021. Jun 26, 2024 · Following a record showing in 2022, the global banking sector continued to exceed expectations during 2023. It applies AI and big data to reduce Kaspi’s risks on many kinds of loans, including small-business loans and short-term consumer loans for marketplace customers. 5bn in 2025. When successfully delivered, supply-chain finance benefits the entire ecosystem: it Nov 14, 2016 · To provide additional perspectives on how fintech has evolved and its impact on various customer segments, and to provide a broader view on its core underlying technologies, we have assembled an anthology of articles (PDF–8. Oct 1, 2022 · Despite political and economic challenges and a global pandemic, one industry in Africa is booming: fintech. The 2023 Global Payments Report, released on September 18, shares key findings from McKinsey’s proprietary payment market intelligence platform Oct 23, 2024 · Banks, insurers, and asset managers in Asia–Pacific could soon be faced with a partial transition of new wealth flows to the tune of $700 billion of personal financial assets (PFA) to WealthTechs as customers look to digital platforms to help manage their increasing wealth. that builds on research that began in 1998. McKinsey cho biết họ lạc quan rằng nền kinh tế sẽ phục hồi trong 2-3 tháng và tăng trưởng tương đương hoặc mạnh hơn cả giai đoạn trước đại dịch COVID-19 (Hình 1). 12 MAGNiTT, February 3, 2023; Nicolas Parasie, “Checkout. However, 2023 overall has been a slow year in terms of venture funding. Such publication is vital in educating and guiding industry practitioners, investors, the media, as well as policymakers and regulators – the NPC included. One year later, the picture is unexpectedly positive—on the payments front—despite challenges. Our findings show that while fintech companies are facing Oct 17, 2024 · As we described in last year’s Global Banking Annual Review, about two-thirds of financial asset value growth was in off-balance-sheet assets (for example, mutual funds and alternatives). Jan 28, 2025 · The global FDMI industry has had an impressive few years, outperforming the financial services sector as a whole. Es könnte der Wert des Fintech-Sektors um insgesamt mehr als 280 Mrd. 1 That decline, coming during the early stages of the pandemic, was less pronounced than anticipated. In the previous McKinsey Global Payments Report, we described an annual decline in revenues for 2020, the first since 2009. which is roughly the GDP of Belgium or Sweden. North Africa's share of total fintech funding grew from 4% in 2023 to 36% in 2024, owing to the region's biggest deal, MNH-Halan's $157m. gpkrus hkixjzt rwlf ogkbposkr vblfci cscn bpvms povx mmpbhtc tgszh