Despite post-pandemic moderation, the fintech sector continues to show strong, sustainable growth while reaching traditionally underserved groups. A new global survey of 240 fintech firms indicates customer growth stabilising at 37 per cent, down from 55 per cent in the previous edition of the survey. However, financial performance remains strong with revenue growth at 40 per cent and profit growth at 39 per cent.
Carried out in collaboration with the Cambridge Centre for Alternative Finance (CCAF), at Cambridge Judge Business School, University of Cambridge, The Future of Global Fintech: From Rapid Expansion to Sustainable Growth report also highlights fintech’s continued role in expanding financial access to traditionally underserved market segments.
Micro, small and medium enterprises (MSMEs), low-income individuals and women constitute significant portions of fintechs’ customer base (57 per cent, 47 per cent and 41 per cent, respectively), particularly in emerging markets and developing economies (EMDEs) where these segments are also contributing meaningfully to fintechs’ bottom lines.
“Fintechs have embedded accessibility and reach into their business models, positioning themselves as essential players in creating a more equitable global financial system,” said Drew Propson, Head of Tech and Innovation in Financial Services, World Economic Forum. “These findings underscore fintech’s ability to help drive economic expansion, even as the sector adapts to more moderate post-pandemic growth trends.”
The survey, covering six key fintech verticals in Asia-Pacific, Europe, Latin America and the Caribbean, the Middle East and North Africa, the US and Canada, and sub-Saharan Africa, also suggests that AI adoption is improving performance, with 83 per cent of fintechs reporting improved customer experience and approximately three-quarters of respondents noting higher profitability and reduced costs. Additionally, the survey revealed the sector’s response to macroeconomic and funding trends, regulatory environments and opportunities to partner with traditional financial institutions.
“Fintechs’ concerns on macroeconomic conditions and funding environment have eased but still linger on,” said Bryan Zhang, Co-Founder and Executive Director, Cambridge Centre for Alternative Finance. “However, coupled with more favourable regulatory conditions, ample opportunities to collaborate with incumbents and increasing adoption of AI in operations and business models, the growth perspective for fintechs remains promising.”
A more optimistic economic outlook amid lingering challenges
While macroeconomic conditions remain the most cited challenge to growth, only 18 per cent of respondents view them as a hindrance, down from 56 per cent in 2024. Concerns about the funding environment have also eased significantly, with only 12 per cent citing it as a hindrance, compared to 40 per cent in the previous edition. Despite these improvements, there is more to be done to foster sustainable fintech growth, particularly in expanding access to capital and enhancing regulatory efficiency.
Supporting future fintech growth
Fintechs report their regulatory environment is generally suitable, with 62 per cent of respondents stating that regulations in their regions are adequate and 35 per cent citing strong regulatory clarity. However, firms continue to highlight areas for improvement, including the capacity and coordination of financial authorities and efficiencies in licensing and registration processes.
Partnerships between fintechs and traditional financial institutions play a critical role in fintech strategies. The report indicates that an overwhelming 84 per cent of fintechs collaborate with incumbents, primarily through API integrations (52 per cent), reflecting the sector’s growing integration into the broader financial ecosystem.
Looking ahead, priorities such as AI adoption, regional interoperability, collaborations with incumbents and continued progress on regulation and funding environments, all signal a more integrated and resilient financial future. Regulators, policy-makers and business leaders can help unlock the economic benefits of fintech growth by applying data-driven insights to respond to emerging trends in the industry.
About the survey
The Future of Global Fintech: From Rapid Expansion to Sustainable Growth report surveyed a total of 240 carefully selected fintech companies in six key retail-facing fintech business verticals (digital lending, digital capital raising, digital payments, digital banking and savings, insurtech and wealthtech) and six regions (Asia-Pacific, Europe, Latin America and the Caribbean, Middle East and North Africa, the US and Canada, and sub-Saharan Africa).
About the Annual Meeting of the New Champions 2025
The 16th Annual Meeting of the New Champions will take place from 24 to 26 June in Tianjin, China, under the theme, “Entrepreneurship for a New Era”. The meeting will convene over 1,700 leaders from business, government, civil society, academia, international organisations, innovation and media to explore entrepreneurial solutions to global challenges.
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