This month at The Fintech Occasions, we’re reflecting on the previous 12 months’s fintech highlights whereas waiting for what 2025 may maintain. We’ve engaged with fintech CEOs and trade consultants to uncover key traits from 2024 and their insights on priorities for the approaching 12 months.
2024 was a 12 months of challenges and alternatives for fintech. Based on KPMG’s Pulse of Fintech, world funding declined to $51.9billion within the first half of the 12 months – the bottom six-month interval since 2020 – highlighting the cautious method taken by buyers amid high-interest charges and geopolitical uncertainty.
Funds retained the lion’s share of funding, attracting $21.4billion globally, whereas regtech emerged as a uncommon space of progress, surpassing its 2023 complete with $5.3billion within the first half alone. AI, too, continued to seize investor consideration for its potential to boost efficiencies and scale back prices, notably as corporations sought to stay aggressive in a high-cost atmosphere.
Whereas funding traits confirmed restraint, the broader fintech trade continued to adapt to altering priorities.
Collaboration between fintechs and conventional monetary establishments gained momentum, reflecting a shared want to handle regulatory complexities and meet altering client expectations. Throughout sectors, fintechs performed an important function in bettering entry to monetary providers, supporting underserved communities, and fostering monetary resilience.
Nonetheless, important challenges stay, together with the continuing demand for sustainability-driven innovation and the crucial to handle dangers like information privateness and monetary crime.
As we shut the chapter on 2024, December presents an opportunity to look at the teachings realized and methods that may drive fintech ahead.
All through the month, The Fintech Occasions will showcase unique insights from trade leaders, highlighting the improvements, collaborations and options poised to form the 12 months forward in your ‘Views from the Prime’.