Ernst&Young: China and India Lead in Fintech Industry Adoption

In the course of a new study conducted by consulting firm Ernst&Young, it turned out that China and India are leading in terms of adopting financial technologies. The report, entitled “Global FinTech Adoption Index 2019”, discusses the pace of implementation of fintech in different countries of the world. The researchers concluded that in 2019, the global adoption of the sector increased by 64%. The report notes that the growth was driven by the large-scale adoption of a niche by emerging markets such as China and India.

Source: assets.ey.com

China and India lead with an adoption rate of 87%, while in South Africa and Russia this figure is 82%.

The consulting firm conducted an online survey of 27,103 people from 27 markets in Asia, North America, South America, and Europe.

About 90% of respondents who took part in the survey stated that they had previously heard about financial technologies and various payment platforms created by the industry.

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