Future of Global Fintech Second Edition 2025

Main DPI improvements that would benefit fintech growth – AEs versus EMDEs FIGURE 36 Streamlined digital payment systems Comprehensive open data initiativesIntegrated eKYC and AML platforms 57% 64% Integrated digital identity and document management systems OtherImproved digital infrastructure for cross-border transactions44% 42%52% 35% 29% 33% 40% 5%6%Advanced geospatial data infrastructure for discovery and fulfillment45% 10% 4% AEs EMDEsOpen banking, open finance and DPI The rise of open banking,27 open finance28 and DPI29 has been a significant milestone for the fintech sector, creating new opportunities for innovation, market expansion and competition. To assess fintechs’ impact, the survey asked respondents for their perceptions on whether they had benefited from these frameworks. As noted earlier in Figure 34, 93% of fintechs surveyed reported that open banking and open finance were relevant topics affecting the industry’s future. It follows that most fintechs (67%) reported benefitting from open banking and open finance frameworks implemented in their market. Regionally, MENA and LAC had a greater interest (with 41% and 40% reporting strongly agree, respectively) in these frameworks, followed by SSA (31%). The differences between AEs and EMDEs in this area were slight, with EMDE fintechs more strongly agreeing about this benefit compared to those in AEs (33% versus 31%, respectively). Across most verticals, fintechs acknowledged the benefits of open banking and open finance frameworks implemented in their market, except in insurtech, where most fintechs (56%) remained neutral. Digital lending, digital payments and wealthtech showed the strongest agreement on the benefits of these frameworks. To assess key DPI improvements that could contribute to fintech growth, the survey asked respondents to evaluate the importance of various developments. Integrated eKYC and AML platforms were deemed to be the top improvement in the DPI landscape for both AEs and EMDEs, with 60% of fintechs overall viewing this as a main improvement that could benefit fintech growth (Figure 36). This was followed by streamlined digital payment systems (52% in EMDEs and 45% in AEs) and comprehensive open data initiatives (42% in EMDEs and 44% in AEs), completing the top three. Integrated digital identity and document management systems and improved digital infrastructure for cross-border transactions were also reported by 36% and 32%, respectively. Regional differences were evident. In MENA, improved digital infrastructure for cross-border transactions (47%) ranked higher than in other regions. This aligns with the earlier insight that 67% of firms in MENA reported more appetite for international expansion compared to other regions. In SSA, integrated digital identity and document management systems were prioritized (49%). By vertical, digital lending firms found open data initiatives particularly valuable (55%).93% of fintechs surveyed reported that open banking and open finance were relevant topics affecting the industry’s future. The Future of Global Fintech: From Rapid Expansion to Sustainable Growth 48