Tuesday
June 4
2019

Report: Global Fintech Adoption Grew 64% in 2019; India and China ahead in Emerging Markets

By Abhijit Ahaskar

The adoption of Fintech, short for financial technology, grew at 64% worldwide in 2019. While among the developed markets, the adoption rates were highest in Netherlands (73%), the UK (71%) and Ireland (71%) lead the charts, in emerging markets China and India are ahead with 87% adoption, claims EY Global FinTech Adoption Index 2019, published June 3.

“The FinTech industry in India is rapidly expanding, and the adoption rate is growing faster than anticipated. One of the reasons for strong growth is that traditional financial services companies have entered the fray in a big way,” said Mahesh Makhija, Partner and Leader, Digital and Emerging Tech, EY in a press statement.

Photo courtesy of juicyrai.

Source: Livemint (link opens in a new window)

Categories
Finance, Technology
Tags
emerging markets, financial inclusion, financial services, fintech, technology