1、Global FinTech Adoption Index 2019 As FinTech becomes the norm, you need to stand out from the crowd 2 Global FinTech Adoption Index 2019 For this years survey, we interviewed more than 27,000 consumers in 27 markets. We examined not only how FinTech has improved and expanded its offerings around th
2、e world, but also how it has spurred change across the entire financial services industry. FinTech strives to make financial services more accessible for both consumers and businesses. By connecting customers to a digital world, FinTech enhances their experiences, making them efficient, economical a
3、nd frictionless. There are a few key themes in this years report: No longer just disrupters, FinTech challengers have grown into sophisticated competitors, with an increasingly global reach. Many financial incumbents, such as banks and insurers, offer credible FinTech propositions of their own, chal
4、lenging the question of what is a “FinTech?” The interactions between challengers, incumbents and players from outside the financial industry are forming FinTech ecosystems that are replacing traditional bilateral partnerships. These themes extend beyond the consumer space. Small and medium-sized en
5、terprises (SMEs) are increasingly using FinTech services. These businesses constitute a distinct customer segment, with needs that are different both from those of consumers and those of large corporations. Thus, this report also contains the first SME FinTech Adoption Indexa survey of 1,000 organiz
6、ations in five markets. To help bring to life the findings of our surveys, we conducted interviews with a wide range of FinTechs, including stand- alone challengers, financial incumbents and non-financial services companies. Our 2017 case studies focused on how FinTech acquired customers and gained
7、market share. This year, our case studies highlight scaling and expansionand how these organizations are working within a new context for financial services. We expect some of the newer themes weve identified to accelerateincluding the entry of non-financial companies into the FinTech arena and the
8、spread of ecosystems. The pace of innovation continues to accelerate, becoming the “new normal” within financial services. We hope this report contributes to a deeper understanding of FinTechs evolving role, and we look forward to observing how this dynamic industry develops in the future. Foreword
9、FinTech has evolved in significant ways since we published our first global EY FinTech Adoption Index in 2015. That year we observed that FinTech, while nascent, was “clearly more than just hype.” Our next report, in 2017, found that the industry had grown rapidly and had “achieved initial mass adop
10、tion.” Gary Hwa EY Global Financial Services Markets Executive Chair and EY Asia-Pacific Financial Services Regional Managing Partner Global FinTech Adoption Index 2019 3 Acknowledgements Special thanks to our panel of FinTech contributors: Coinbase, Funding Circle, Discovery Group, JD Digits, Juvo,
11、 Goldman Sachs, Grab Financial Group, InstaReM, Moneytree KK and Yolt. 05Keyfindings 06Chapter1:ConsumerFinTechadoptiontrends 08 Seen everywhere: growing and globalizing 11 Redefining the rules of the game: changing consumer priorities 15 Rise of non-financial services companies and the growth of ec
12、osystems 18 Methodology 20Chapter2:SMEFinTechadoptiontrends 22 SMEs worldwide have become significant users of FinTech 26 FinTech challengers are joining SME-provider ecosystems 30 Methodology 32Chapter3:Fromtheinnovatorsmouth 33 Introducing the FinTechs 36 Questions and answers 42 Contacts Contents
13、 4 Global FinTech Adoption Index 2019 Key findings We define FinTech as organizations that combine innovative business models and technology to enable, enhance and disrupt financial services. Attractive rates and fees Top reason for consumers to use a FinTech challenger Range of functionality and fe
14、atures Top reason for SME adopters to use a FinTech challenger Consumer survey 64% Global consumer adoption 3 out of 4 global consumers use a money transfer and payments FinTech service 75% 1 out of 2 global consumers use an insurance FinTech service 48%96% Global consumers are aware of at least one
15、 money transfer and payment FinTech service Consumer adopters turn to someone other than their main bank first 33% Consumers would consider a non- financial services company for financial services 68% Consumer adopters are willing to share their bank data with other organizations 46% SME survey 25%
16、Global SME adoption SMEs use a financing FinTech service 46% SMEs use a banking and payments FinTech service 56% SME adopters prefer to find a technological solution where possible 93% SME adopters are willing to share data with FinTech companies 89% Global FinTech Adoption Index 2019 5 Consumer Fin
17、Tech adoption trends The FinTech industry has grown up and grown out. No longer made up of only start-ups, FinTech today is a host of seasoned companies that offer a broad array of financial services and operate on a global stage. Consumers like what they see. Adoption of FinTech services has moved
18、steadily upward, from 16% in 2015, the year our first FinTech Adoption Index was published, to 33% in 2017, to 64% in 2019. Awareness of FinTech, even among non- adopters, is now very high. Worldwide, for example, 96% of consumers know of at least one alternative FinTech service available to help th
19、em transfer money and make payments. Adapting to the rapid evolution of this dynamic and innovative industry, we conducted online interviews with more than 27,000 consumers in 27 markets across six continents, up from 20 markets in 2017. Ten of the 27 markets this year are emerging markets, a recogn
20、ition of the leading role many of these emerging markets play in FinTech adoption. We asked consumers about their use of 19 FinTech services across five categories. We continue to define a FinTech adopter as someone who has used two or more “buckets” of services, since this indicates a habitual chan
21、ge in behavior in a way that use of a single service does not. A bucket consists of a major FinTech service, or two or more related services, such as online stockbroking and online investment advice. We discuss our methodology in greater detail at the end of this chapter. This year for the first tim
22、e we formally included innovative, technology-enabled services provided by incumbent financial institutions, such as banks, insurers, brokers and wealth managers, in our definition of FinTech. In prior years, we focused on services originated by challengers (some of whom may have partnered with, or
23、received a substantial investment from, an incumbent). The inclusion of incumbents is an acknowledgement that many established players have developed comparable digital offerings that compete with those offered by FinTech challengers. We see two main types of FinTech propositions: “disrupted” and “i
24、nvented”. A disrupted service is one that has historically been offered by incumbents, such as automotive insurance or foreign exchange trading. FinTech providers use technology to disrupt these services by offering consumers a more compelling offering such as enhanced capabilities, convenience, or
25、lower prices and fees. This profoundly changes customer expectations in the process, pressuring incumbents to develop their similar services to stay competitive and retain market share. An invented service is one that didnt exist before but is now possible by technology and alternative business mode
26、ls, such as peer-to-peer lending and mobile-phone payments. Some invented services fill niches in the market, and others have the potential to redefine and transform entire financial subsectors. Chapter 1 6 Global FinTech Adoption Index 2019 FIGURE 1 | Consumer FinTech adoption across 27 markets Not
27、es: The figures show FinTech adopters as a percentage of the digitally active population in each market. All averages are shown on an unweighted basis. *Hong Kong SAR of China *Belgium prior EY research has found that 68% of young investors use social media for all purchases, whether in seeking info
28、rmation or validating their choices after the fact (see EY, “The new norm: FinTech and the digitally enabled wealth customer”). FIGURE 5 | Analysis of views on personal risk management and digital financial services, FinTech adopters versus non-adopters Notes: The figures show the percentage of resp
29、ondents who either agree or strongly agree with statements relating to their attitudes to financial and digital services, by FinTech adopters and non-adopters. I generally read the terms and conditionswhenIsignupfora newfinancialproduct Iworryaboutthesecurityof mypersonaldatawhendealing withcompanie
30、sonline I would be comfortable to use adigital,branchlessfinancial servicesprovider Iwouldprefertoviewallmy financialproductsinoneplace throughanonlineorapp-basedtool 65% 71% 60% 47% 52% 65% 38% 18% AdoptersNon-adopters Finding4: FinTech adopters prefer online and app-based financial products despit
31、e concerns about personal data security. Digital innovation is disrupting and reshaping financial services at a rapid pace, and incumbents and challengers alike need to be attuned to the evolving expectations of their customers. Challengers have built themselves using a design-first approach and agi
32、le work processes. By keeping a technology-forward mindset, they are able to offer FinTech services that are at once personalized, accessible, transparent, frictionless and cost-effective. As our findings showed in 2017, these characteristics are sufficiently appealing to consumers in significant nu
33、mbers to create a truly disruptive threat to incumbent banks, insurers and wealth managers. The incumbents that are most responsive to this competitive threat are those that disrupt their own propositions and offer comparable FinTech services, either through partnerships, acquisitions or in-house de
34、velopment. In recent years, incumbents have brought forth their FinTech versions of disrupted services in areas such as online foreign exchange, online investment advice and management, and digital-only branchless banking. In effect, FinTech has redefined the rules of the game in financial services.
35、 What was considered new and disruptive in 2015 has since become a prerequisite for all players. With so many participants now offering similar services, each company must strive to differentiate itself to attract and retain customers, whether by brand, price or execution. For a company to stand out
36、, it helps to have a keen appreciation of what FinTech adopters wantand what concerns they have. While adopters are much more willing than non-adopters to favor an online tool or an app that allows them to view all their financial products in one place, they are more worried than non-adopters about
37、the security of their personal data. Security concerns are less pronounced in Sweden, Germany, Belgium and the Netherlands, perhaps due to strong data protection regulations in those markets. Overall, despite their security concerns, adopters are comfortable with online aggregator sites and all-digi
38、tal, branchless financial services. Global FinTech Adoption Index 2019 11 China is an early forerunner of a global trend sparked by increased competition, improved onboarding experiences, and the portability of data enabled by technology and, in some markets, changes in regulation. Consumers now exp
39、ect a frictionless onboarding experience; it has become an industry hygiene factor, meaning customers can shift their attention to other priorities. Interestingly, fewer adopters chose better experiences, and access to different and more innovative products and services, as their top reason for usin
40、g a FinTech challenger, perhaps indicating the increasing comparability and competitiveness of FinTech services provided by incumbents. Given the wide array of FinTech services available today, all providers have evolved from simply trying to lure curious or frustrated consumers with an easy set-up
41、process to developing new strategies to retain existing customers and induce them to make educated choices. One telling sign of the FinTech industrys maturation is the evolution in consumer priorities when they look for a provider. In 2017, 30% of adopters ranked the ease of opening an account as th
42、eir top priority when selecting a FinTech provider, while only 13% said attractive fees or prices were most important. In the 2019 survey, the priorities flipped, with 27% ranking price first and 20% picking ease of opening an account. Chinese consumers ranked ease of onboarding as the least importa
43、nt considerationa reflection of the widespread adoption in that market of open APIs and platform-based services, which has made opening any kind of financial services account virtually frictionless. FIGURE 6 | Select reasons for using FinTech challengers, from 2017 to 2019 Notes: The figures show th
44、e percentage of adopters that chose each answer as the primary reason for using a FinTech challenger in 2019 and in 2017. Data for 2017 differs from that originally published in order to align to the 2019 categorization and averaging methodology. Moreattractiveratesorfees 13% 27% 30% 20% 24% 18% 16%
45、 12% EasiertosetupanaccountAccesstodifferentand moreinnovativeproducts andservices Betterexperience,better product features and qualityofservice 20192017 Finding5: Attractive rates and fees has overtaken the ease of setting up an account as the primary reason adopters cite for choosing a FinTech cha
46、llenger. 12 Global FinTech Adoption Index 2019 We also see an evolution in the attitudes of non-adopters. As it was in 2017, lack of awareness and understanding continues to be the top reason for why consumers opt to use an incumbent financial institution rather than a FinTech challenger. However, o
47、ne factor has risen from the least common reason in 2017 to the second most common reason in 2019 trust. Non-adopters choose to remain with incumbent providers because they trust them more than FinTech challengers. Trust is the top barrier to using a FinTech challenger in markets such as Chile, Fran
48、ce and Japan. As more incumbents offer their own FinTech services, their ability to build on pre-existing trust takes on new significance. Finding6: While consumers trust in their main bank or insurer remains high, 33% of FinTech adopters say they would first turn to another organization when consid
49、ering a new financial services product. Most adopters and non-adopters say they would turn first to their current bank or insurer when considering a new service. However, 33% of adopters said they would first turn to alternative providers, be it another incumbent, a price comparison web site or a FinTech challenger. In contrast, 23% of non-adopters said they “did not know” where they would turn, suggesting they are underserved by their current banks and insurers while lacking knowledge of alternatives. Notes: The figur
sgpjbg002
工作日 8:30 - 17:30
会员动态：
报告分类
新质生产力
ChatGPT
新能源汽车
大模型
Sora
机器人
微短剧
芯片
薪酬
白皮书
低空经济
数据要素
创新药
人工智能
AI产业
信息科技
互联网
消费经济
汽车交通
电商零售
传媒娱乐
医药健康
投资金融
能源环境
地产开发
传统产业
英文报告
其它
扫码登录
手机快捷登录
账号登录
