To estimate the adoption of FinTech worldwide there are a variety of indicators. The main is FinTech adoption index. It shows the percentage of FinTech users of the overall digitally active population.
View video presentation (source www.ey.com):
2017 report by EY TOP10 fact sheet (20 markets surveyed):
- The average FinTech adoption index (FAI) is about 33%.
- The highest FAI have China and India (69 and 52% respectively).
- The lowest FAI have Japan and Belgium and Luxembourg (14 and 13% respectively).
- 84% of users are aware of FinTech (62% was aware in 2015 across 6 markets of Australia, Canada, UK, USA, Singapore and Hong Kong).
- 50% of customers used money transfer and payments in the last 6 months, so this category is the most popular among all other FinTech services.
- 24% of customers used insurance FinTech services. This is the second popular FinTech category which has the greatest potential for growth.
- The average age of FinTech products and services users: 25-34 and 35-44 years old, 48% and 41% respectively.
- Users adopted more than 5 FinTech services: just 13%.
- Expected estimated global FinTech adoption index in future is 52%.
- The most promising categories of FinTech products and services are financial planning and borrowing,
Here’s the full diagram of FinTech adoption index for 20 surveyed markets (source www.ey.com):