🚨 JUST IN: Fintech just had its biggest year on record – $504 billion in revenue.
New Global Fintech Report from BCG FT Partners: the sector is now growing ~4x faster than traditional incumbents.
The headline numbers:
→ $504B revenue, 22% YoY
→ Trading & investments 38%, deposits 30%
→ Equity funding $58B in 2025 ( 53%)
→ 42 fintech IPOs last year
Fintech is now 4% of all global financial-services revenue.
What's driving it looks different this time.
The report ties much of the growth to AI changing the economics: fintechs deeply integrating AI are seeing ~5x developer productivity.
And because most fintechs aren't tied to legacy core-banking systems, they can adopt those tools far faster than incumbents bolting AI onto decades-old infrastructure.
That's the story behind the number. The last cycle was growth at any cost.
This one is being driven by speed and efficiency – leaner stacks, faster shipping, better margins.
The open question is whether the pace holds as the sector scales and regulators look closer.
Record revenue and record scrutiny tend to arrive together.