Future of Global Fintech Second Edition 2025

Mechanisms for acquiring customers Globally, fintechs’ interest in expanding their consumer bases led them to strengthen their digital focus, with most firms relying on social media platforms (77%), websites (76%) and referrals (72%) as primary customer acquisition channels (Figure 23). Firms reported a decline in the use of traditional methods such as text messages and calls (15% against 20% in the 2024 study). Social media was a particularly prominent strategy in LAC (87%), APAC (84%) and MENA (83%). Despite rapid digitization worldwide, access to cell phones and internet services in developing regions was shown to be far from universal. With only 35% of people in developing countries having internet access,25 fintechs in EMDEs cannot rely solely on digital methods. Therefore, firms in SSA were more likely to use traditional advertising methods (42%) and text messaging (40%), while MENA firms were found to rely on local physical agents (27%) and partnerships (52%) more extensively. In contrast, firms in the US and Canada and Europe prioritized websites (60% and 81%, respectively) and social media (62% and 69%, respectively), with little reliance on physical branches or traditional methods. Across verticals, social media and referrals remained the most popular customer acquisition strategies. Digital capital raising firms led in social media use (91%), while wealthtech firms relied heavily on referrals (85%). Insurtechs were also more likely to use referrals (80%), traditional advertising (49%) and text messaging (30%). Mechanisms for acquiring customers FIGURE 23 Text messages or interactive voice response callsWebsite Referrals Partnership with local financial institutions Local advertising agent(s) Traditional advertising OtherSocial media Physical agency or bank branch N/A77% 76% 72% 50% 25% 23% 21% 18% 15% 3% Note: *Other: partnerships with retailers; B2B partnerships; partnerships with governments. Despite rapid digitization worldwide, access to cell phones and internet services in developing regions was shown to be far from universal. The Future of Global Fintech: From Rapid Expansion to Sustainable Growth 34