Future of Global Fintech Second Edition 2025

improvement, firms in LAC (32%) and SSA (29%) were more likely than firms in other regions to evaluate coordination efforts as insufficient. Perceptions in these regions drove the divergence between the percentage of firms that rated coordination efforts as poor in AEs (13%) and EMDEs (24%). At a vertical level, digital banking and savings (32%) and digital capital raising firms (30%) were more likely to give a negative evaluation of coordination between financial authorities. In contrast, 34% of digital payments, 29% of wealthtech and 27% of digital lending respondents perceived it as strong. Financial authority knowledge and capacity: Generally, fintech firms across regions view financial authority staff knowledge and capacity as the area with the most room for improvement. Firms in LAC (43%) and the US and Canada (26%) were more likely to rate the knowledge and capacity of the financial authority negatively, exceeding the global average (24%). Conversely, firms in the US and Canada (32%), APAC (30%) and Europe (29%) viewed the knowledge and capacity of financial authorities as strong, with above-average numbers. The response from the US and Canada was unique, with high ratings on both ends of the spectrum.A higher proportion of firms in digital banking and savings (47%) and digital capital raising (40%) verticals rated financial authority knowledge and capacity as poor, indicating a need for capacity building to allow financial authorities to better support these sectors. Meanwhile, 34% of wealthtech and 31% of digital payment respondents perceived it as strong, indicating a higher focus from authorities on these sectors. Licensing and registration processes: Fintechs’ overall views on licensing and registration processes improved compared to the 2024 study.22 Firms in LAC and the US and Canada were more likely to rate these processes as poor (43% and 26%, respectively). By vertical, a higher proportion of digital capital raising (43%) and digital banking firms (38%) expressed dissatisfaction with licensing and registration processes. Overall, while fintechs’ perceptions of the key aspects of the regulatory environment were favourable, there was still a substantial minority that considered staff knowledge, licensing processes and coordination to be poor in their jurisdictions. Strengthening financial authorities, especially in EMDEs, could enhance the regulatory environment that fintechs navigate. Fintech firms across regions view financial authority staff knowledge and capacity as the area with the most room for improvement. The Future of Global Fintech: From Rapid Expansion to Sustainable Growth 26