2025年金融科技趋势

Jordan McKee,Research Director, FintechSophia Furber,Fintech Research Analyst, EMEASampath Sharma Nariyanuri,Senior Research Analyst, FintechMcKayla Wooldridge,Research Analyst, Fintechspglobal.com/marketintelligence Table of contentsExecutive summaryIntroductionAbout this reportThe TakeTrends we anticipate in 2025Trend 1: Fintechs will see more stable funding and M&A activityFigure 1: Fintech funding rounds hit new low in Q3 2024Trend 2: A2A payments will soar, led by instant payment schemes and open bankingTrend 3: Stablecoins will inch toward mainstream acceptance in paymentsTrend 4: Banking as a service will see a year in transitionTrend 5: ‘Wallet War II’ will unfold with a focus on guest checkoutTrend 6: Payment orchestration will diversify and evolveFigure 2: Majority of merchants prefer using multiple payment processorsTrend 7: The industry’s ‘arms race’ against emerging fraud threats will move intoa new phaseFigure 3: Scams and fraud are consumers’ top concern about GenAITrend 8: Digital transformation in B2B payments will accelerateTrend 9: The B2B payments market will become more integratedTrend 10: Convenience, control, choice will drive payment decisions for consumersand businesses alikeFigure 4: Younger consumers are most likely to abandon purchases when preferredpayment method not offeredTrend 11: Alternative and local payment methods will have a renaissance in EuropeFigure 5: Payment volume percentage split in EMEA by electronic payment method type,2022-2030Trend 12: The Middle East will be a bright spot for digital payment adoptionand innovationMethodologyFurther readingAbout the authors 2025 Trends in Fintech| 2spglobal.com/marketintelligence Executive summaryIntroductionThrough the first three quarters of 2024,fintech venture funding continued to slideglobally, down roughly 26% from the same period a year ago. Meanwhile, regulatoryactivity across the sector has intensified, driving up compliance investments andoperational complexity in tandem. These challenges are contrasted by a macroeconomicstory for the fintech sector that is undoubtedly becoming more promising; the FederalReserve has embarked on a rate cut cycle, public fintechs continue strong outings in stockmarkets, and M&A dealmaking is ramping up.For now, fintech venture capital firms are consolidating around fewer, larger deals,indicating a strategic shift toward backing vendors with proven potential for scaling inturbulent conditions. As VCs continue to adapt their strategies, fintech startups thatprioritize scalability and operational efficiency are better positioned to secure investmentin a what continues to be a more constrained funding environment. It is more critical thanever to establish product-market fit, prove clear differentiation and demonstrate strongunit economics.It remains early days in fintech. Fintechs account for only a low-to-mid-single-digitpercentage of financial services revenue globally, indicating a massive remainingopportunity for go-forward growth and market disruption. Secular tailwinds supportingthe sector remain resilient, and there are encouraging signs in the growing list ofinnovations that promise to bring greater efficiency, usability and inclusivity to the globalfinancial system.About this reportReports such as this showcase insights derived from a variety of market-level researchinputs, including financial data, M&A information and other market data sources bothproprietary to S&P Global and publicly available. This input is combined with ongoingobservation of markets and regular interaction with vendors and other key market players.This report specifically includes data from the following sources:–Voice of the Enterprise: Customer Experience & Commerce, Merchant Study 2024—This web-based survey was fielded from April 29 through May 23, 2024, amongapproximately 500 IT and line-of-business decision-makers primarily in North America.–Voice of the Connected User Landscape: Connected Customer, DisruptiveExperiences 2024 —This web-based survey was fielded March 27 to April 4, 2024,among approximately 5,000 US respondents aged 18 or older.–Voice of the Connected User Landscape: Connected Customer, Quantifying theCustomer Experience 2024 —This web-based survey was fielded June 24 to July 8,2024, among approximately 5,000 US respondents aged 18 or older.–Macroeconomic Outlook, Business Trends 2024 —This web-based survey was fieldedfrom June to July 2024 among approximately 450 IT end-user decision-makers primarilyin North America.–Consumer Digital Payments Market Monitor 2023 —The analysis reflects theconsumer payments market with (primarily) stand-alone vendors that possess the fullprocessing technology stack included. Trends we anticipate in 2025Trend 1: Fintechs will see more stable funding and M&A activityFintech funding rounds slowed in 2024, mirroring VC activity in the broader tech industry.Over the first nine months of the year, fintechs raised $20.7 billion across 1,347 rounds, anotable dr