n the ever-evolving world of finance , the fintech and insurtech app markets have proven to be one of the most successful and fastestgrowing customer solutions .
Meeting new needs and responding to the changing ways we use our mobiles , this sphere is consistently evolving . This is not only in terms of the technologies that are used , but also in the way that app providers position themselves to accommodate shifts in user behaviour .
In short , fintech apps are a prime indication of the financial industry ’ s technological innovation and its trajectory for future developments .
So , what has driven the global rise in fintech and insurtech apps , and what are the trends that are set to continue fuelling the pace of this market ’ s growth ?
The rise of fintech and insurtech apps During COVID-19 , fintech was able to flourish . In this period , global fintech investment reached US $ 44bn in 2020 ( a 14 % increase from 2019 ) and an even more dramatic increase of US $ 102bn in 2021 .
Just a few decades ago , the parameters of what services a bank or insurance firm would offer were fixed and predictable . But now , the advent of financial management apps has broaden the field dramatically .
For companies in the finance and insurance industries , these apps have served as an invaluable CX tool . Whether developing their own branded apps or forming partnerships with finance app developers , these additions have proven to be exceptionally popular among consumers .
For example , in 2022 , the year ’ s Top 10 mobile banking apps ( by number of downloads ) was led by the Brazilian app Nubank , dominating the field with 50 million downloads . This was followed by the UK ’ s
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