United States Fintech Market Introduction and Overview
According to SPER Market Research, the United States Fintech Market is estimated to reach USD 181.51 billion by 2033 with a CAGR of 14.95%.
The report includes an in-depth analysis of the United States Fintech Market, including market size and trends, product mix, applications, and supplier analysis. The application of recent technological developments to financial products and services with the aim of improving and automating the provision and utilization of financial services is known as fintech, or financial technology. By combining a range of technologies, including blockchain, data analytics, artificial intelligence (Al), and application programming interfaces (APIs), it also aims to compete with the current traditional financial techniques in the supply of financial services. Due to its ability to provide easy services and maintain financial transparency, fintech has been one of the main factors propelling the sector. Additionally, an increasing number of partnerships between national regulators and financial institutions, as well as the adoption of cutting-edge technologies by various financial organizations to offer integrated and value-added services to clients.
- May 2024; In order to facilitate the easy purchase of cryptocurrency for American users, PayPal (US) and Moonpay (US) partnered. Moonpay customers can purchase cryptocurrency using their Paypal balance, direct bank withdrawals, or debit cards in a safe and familiar setting, which makes it easier for new users to get started and improves accessibility to digital assets by offering a variety of payment options.
- March 2024; As graduates of its Fintech Accelerator Program, FIS (US) and Stratyfy (US) partnered to improve their SecurLOCK card fraud management solution. The goal is to greatly improve the accuracy of detecting and stopping fraudulent transactions, which will increase the security and effectiveness of card payments for both consumers and businesses in the face of growing fraud risks in the payments sector.
Market Opportunities and Challenges
Opportunities- Banks and other financial organizations now have the chance to offer their clients cutting-edge and practical services due to the rise of digital banking and payments. Banks utilize FaaS solutions to transform digital offerings and stay competitive as more and more clients use digital channels for their banking and payment needs. In order to avoid having to create the platform from start, FaaS assists banks in implementing new technologies that enable them to set up and utilize a variety of services like digital wallets, mobile banking, real-time account monitoring, and minimal expenditure and effort. FaaS is the instrument that banks require to enable increased flexibility, operation, and a more customer-focused strategy while guaranteeing the continuation and prosperity of financial security inclusion and additional innovation-driven improvement.
Challenges- Regulators find it challenging to keep up with the rapid advancements in financial technology, which is upending traditional banking. As a result, banks must traverse a complicated and ever-evolving regulatory environment that is costly and challenging. Smaller banks that lack the resources to keep up with changing criteria may find it difficult to meet the expectations of financial rules. Hiring more compliance personnel, putting new processes in place, and carrying out routine audits and reviews are all examples of compliance costs. The intricacy of financial regulation also puts banks at risk for non-compliance, which can have serious repercussions for their brand and legal standing. Fines or other legal actions are examples of penalties, as can harms to the bank's reputation, which may then affect its capacity to attract customer.
Market Competitive Landscape
The United States Fintech Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Affirm, American Express, Chime, Coinbase, Credit Karma, GreenSky, Klarna, LendingClub, PayPal, Robinhood, Square (now Block, Inc.), Stripe, SoFi, Others.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Deployment Mode, By Application, By End User |
| Regions covered | Western region, Eastern region, Northern region, Southern region |
| Companies Covered | Affirm, American Express, Chime, Coinbase, Credit Karma, GreenSky, Klarna, LendingClub, PayPal, Robinhood, Square (now Block, Inc.), Stripe, SoFi. |
COVID-19 Impact on United States Fintech Market
In the U.S. fintech industry, COVID-19 sped up digital transformation by propelling an increase in contactless payments, online banking, and investing platforms. App usage and new user registrations increased as consumers shifted to digital solutions for financial management. As traditional banking was disrupted, small firms looked for other financing sources, which increased lending platforms. Additionally, the pandemic increased demand for financial education materials and personal finance tools, which encouraged innovation. All things considered, COVID-19 changed how consumers behaved, making fintech an essential part of the American financial system.
Key Target Audience:
- Consumers
- Small Businesses
- Millennials
- Gen Z
- Investors
- Freelancers
- Underbanked Individuals
- Tech-Savvy Users
- Corporations
Our in-depth analysis of the United States Fintech Market includes the following segments:
| By Deployment Mode: | On-PremiseCloudOthers |
| By Application: | Payment & Fund TransferLoansInsurance & Personal FinanceWealth ManagementOthers |
| By End User: | Offline Retail StoresBankingInsuranceSecuritiesOthers |
Key Topics Covered in the Report:
- United States Fintech Market Size (FY’2024-FY’2033)
- Overview of United States Fintech Market
- Segmentation of United States Fintech Market By Deployment Mode (On-Premise, Cloud, Others)
- Segmentation of United States Fintech Market By Application (Payment & Fund Transfer, Loans, Insurance & Personal Finance, Wealth Management, Others)
- Segmentation of United States Fintech Market By End User (Banking, Insurance, Securities, Others)
- Statistical Snap of United States Fintech Market
- Expansion Analysis of United States Fintech Market
- Problems and Obstacles in United States Fintech Market
- Competitive Landscape in the United States Fintech Market
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Fintech Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Fintech Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Fintech Market
7. United States Fintech Market, By Deployment Mode (USD Million) 2020-2033
7.1. United States Fintech Market Size, Share and Forecast, By Deployment Mode, 2020-2026
7.2. United States Fintech Market Size, Share and Forecast, By Deployment Mode, 2027-2033
7.3. On-Premise
7.4. Cloud
7.5. Others
8. United States Fintech Market, By Application (USD Million) 2020-2033
8.1. United States Fintech Market Size, Share and Forecast, By Application, 2020-2026
8.2. United States Fintech Market Size, Share and Forecast, By Application, 2027-2033
8.3. Payment & Fund Transfer
8.4. Loans
8.5. Insurance & Personal Finance
8.6. Wealth Management
8.7. Others
9. United States Fintech Market, By End User (USD Million) 2020-2033
9.1. United States Fintech Market Size, Share and Forecast, By End User, 2020-2026
9.2. United States Fintech Market Size, Share and Forecast, By End User, 2027-2033
9.3. Offline Retail Stores
9.4. Banking
9.5. Insurance
9.6. Securities
9.7. Others
10. United States Fintech Market Forecast, 2020-2033 (USD Million)
10.1. United States Fintech Market Size and Market Share
11. United States Fintech Market, By Region, 2020-2033 (USD Million)
11.1. United States Fintech Market Size and Market Share By Region (2020-2026)
11.2. United States Fintech Market Size and Market Share By Region (2027-2033)
11.3. United States
11.3.1. Eastern region
11.3.2. Western region
11.3.3. Northern region
11.3.4. Southern region
12. Company Profile
12.1. Affirm
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. American Express
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Chime
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Coinbase
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Credit Karma
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. GreenSky
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Klarna
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. LendingClub
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. PayPal
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links