U.S. FinTech Market

Goals

To find the market size of the U.S. FinTech market, as well as the share for the marketing tech vertical of that industry. As well, to identify the major players in the field, along with information on each of their share of the market and an overview of the features they offer.

Early Findings

Fintech Market

  • The global fintech market, which will pin its worth at approximately USD 305.7 billion by 2023, at a CAGR of 22.17% during 2018-2023.
  • North America is the leading contributor to the global fintech market and is expected to reach USD 80.85 billion by 2023.
  • The US fintech market's transactional value's CAGR is 8.6% over the forecast period of 2019-2024.

Fintech Trends:

  • Fintech is growing on a global scale with deals outside of core markets (US, UK, and China) accounting for 39% of deals. The US remained the top market for deals with 659 investments worth $11.89 billion funding, both a new annual high.
  • More fintechs cater to millennials: "Flyhomes tweaks the mortgage lending process to allow ordinary buyers to make all-cash offers. Divvy lets home buyers rent to own. Goodly allows employers to contribute to their employees’ student loans. Many startups and digital-first companies also offer small business loans, albeit often at exorbitant rates. " These means that banks should look for new ways to serve younger customers’ needs, which are markedly different from older generations. Helping millennials finance their goals will yield dividends in customer loyalty and increased revenue.
  • Paychecks are unbundling: Many fintech startups are disrupting the traditional paycheck, making the consumer experience as seamless as possible. "Earnin and PayActiv give customers affordable advances on their payroll. Other apps, like Even, integrate financial planning advice with payroll advances." Seventy-two percent of customers mostly access their bank accounts online, while about 18% go to a bank branch.

Proposed next steps:

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As ou initial search indicated that the market size of the fintech industry in the United States is not available but could be triangulated, we recommend continuing to find the market size of the fintech market and the marketing tech vertical of the fintech market (by the number of companies and revenue). We will also provide an overview of the marketing tech vertical by finding 10-12 insights covering the following topics: the leading revenue streams per company per segment (e.g., direct sales, subscriptions, ads, sponsored content), how content is used by companies in these segments, the primary technologies used for Site/Content Performance and Content creation, how many companies in segment have dedicated Content Marketing teams (and their size in terms of people), and the average annual budget for Marketing and Tech (Martech ideal) for segment and where that money is currently going (Please note here that these topics are more likely to be unavailable. If data for a topic is not available, we will explain briefly why it is not available, and continue to find other related data). Additionally, we could find the top 10 companies in the marketing tech field. For those competitors, we will provide their names, their website page, why they are a competitor (why we chose them), and their value proposition. Subsequently, once we have those 10 competitors, we will proceed with a competitive landscape on them, placing 2 companies in each landscape. For each competitor, we will provide their competitive advantage, their strengths, their perceived weaknesses, and any publicly available revenue or financial data. Please check this box if we should proceed with this research.
To gain more insights into the fintech market (with more focus on the marketing tech sector if available), we recommend finding additional 2-3 current consumer-centric trends surrounding the fintech industry. For each trend, we will provide an overview of the trend, why it is considered as a trend, how it is affecting both the industry and the consumer, and 1-2 examples of companies that are leaning into the trend. Also, we recommend continuing by following the below-outlined plan: a) Build the demographic and psychographic profiles of the typical consumer in the fintech industry. A demographic profile includes age, gender, ethnicity, income level, and education level. A psychographic profile includes habits, values, spending habits, and media consumption habits. b) Find 2-3 best practices for marketing and targeting consumers for the fintech industry. For each best practice, we will provide a thorough description of what it is, how it can help, and why it is considered as a best practice. c) 2-3 growth drivers for the industry. For each driver, we will provide an overview of the driver, why it is considered as a growth driver, how it is affecting both the industry. d) Comprehensive SWOT analysis of the industry including an in-depth look at the industry outlining its Strengths (S), Weaknesses (W), Opportunities (O), and Threats (T).Please check this box if we should proceed with this research.
As a more affordable option, we recommend continuing to find the market size of the fintech market and the marketing tech vertical of the fintech market (by the number of companies and revenue). We will also provide an overview of the marketing tech vertical by finding 10-12 insights covering the following topics: the leading revenue streams per company per segment (e.g., direct sales, subscriptions, ads, sponsored content), how content is used by companies in these segments, the primary technologies used for Site/Content Performance and Content creation, how many companies in segment have dedicated Content Marketing teams (and their size in terms of people), and the average annual budget for Marketing and Tech (Martech ideal) for segment and where that money is currently going (Please note here that these topics are more likely to be unavailable. If data for a topic is not available, we will explain briefly why it is not available, and continue to find other related data). Additionally, we could find the top 3 companies in the marketing tech field. For those competitors, we will provide their names, their website page, why they are a competitor (why we chose them), and their value proposition. Subsequently, once we have those 10 competitors, we will proceed with a competitive landscape on them, placing 2 companies in each landscape. For each competitor, we will provide their competitive advantage, their strengths, their perceived weaknesses, and any publicly available revenue or financial data. Please check this box if we should proceed with this research.