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Fin-tech
Fintechs: Redefining Financial Services Through Innovation
Fintechs have emerged as the disruptors of the financial industry, leveraging technology to create more efficient, transparent, and customer-centric services. From peer-to-peer lending platforms and digital wallets to blockchain-based payments and robo-advisory services, fintechs are reshaping the financial landscape.
The global fintech market was valued at $179 billion in 2023 and is forecast to grow at a staggering CAGR of 20% through 2030, reaching a market size of $609 billion by the end of the decade, according to Grand View Research. Digital payments, accounting for the largest share of the fintech space, are projected to cross $10 trillion by 2026, driven by growing smartphone penetration, the adoption of contactless payments, and the expansion of e-commerce globally.
Moreover, fintech firms are not only transforming consumer banking but also disrupting corporate finance, with the rise of embedded finance and decentralized finance (DeFi) providing alternatives to traditional banking products.
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