The Year in Fintech: A look back at Fintech Growth Talk in 2022
Dynamic and challenging year of FOMO and YOLO to NOMO in the Markets
Although fintech as a category has been around for quite some time, it seems like the industry continues to grow every year. This is different from traditional financial services and the broader economy. And 2022 was no exception. In almost every sector or channel, fintech companies have seen a wave of transformation.
For example, the current global fintech market is estimated to be approximately $131 billion and is set to nearly quadruple over the next five years by one estimate; $225 billion by another. Investments in Fintech startups slowed considerably in 2022 compared to 2021, but 2021 was a banner year compared to the previous five years; Investments in 2022 are still reaching greater amounts compared to 2020, for example.
Despite normal ups and downs, though, the Fintech industry is thriving. The companies we’ve talked to as part of the Fintech Growth Talk podcast are all a testament to industry’s moves. What’s more, they clearly demonstrate the role innovation has in making our world’s economic and financial systems more fluid, accessible, and democratic.
Let’s take a look back at the conversations we’ve had this year to get an idea of what might be on the horizon for 2023 and beyond.
Investments and interest in blockchain technologies are constantly growing, and Ryan Rassmussen believes we might be in a new era of cryptocurrency investing. As a research analyst at Bitwise Asset Management, he has a front-seat view of the industry.
The shift, Rassmussen told us, comes from the change from proof of work to proof of stake in how the Etherium blockchain operates. This will reduce the energy requirements needed to run the blockchain, enabling a host of new services, investors, and technologies to participate.
Furthermore, we recorded a special episode focused on “the crypto crisis” when FTX failed and everything related to that — from the investor impact as well as the broader ecosystem and economy — to the venture ecosystem reactions and outlook and what is really next. Fun discussions on such a dynamic topic, evolving at a rapid pace.