硅谷银行：2023金融科技的未来报告（英文版）（22页）.pdf

1、October 2023When the graphs are all up and to the right,thats an easy story to tell.For a long time,they didnt go any other way.More than a decade of US expansion lifted the innovation economy to new heights year after year as technology moved from a niche segment into the mainstream.Perhaps no tech

2、 sector was more favored than fintech.In the wake of the Global Financial Crisis,near-zero capital costs and the emergence of smartphones allowed fintechs to flourish by building the banking apps people wanted.The unbundling of financial services brought every financial product out of the bank lobby

3、 and onto a phone screen from insurance policies and stock trading to debit payments and credit monitoring.By 2021,at the peak of VC investment,fintech companies accounted for one-fifth of US VC dollars invested and unicorns created(page 15).Now,two years into a VC slowdown,the fintech sector is fee

4、ling the effects of the tougher macro conditions.The low-cost funding that opened the door for business models like buy now pay later(BNPL)and alternative consumer lending has grown more expensive,while regulators,who once overlooked technology providers,are placing fintechs under increasing scrutin

5、y.All of this adds up to a more complicated picture for fintech founders and investors.In this latest edition of our Future of Fintech report,we leverage SVBs unmatched proprietary data and deep sector knowledge to provide an in-depth look at the health and productivity of the fintech sector.Our fin

6、dings show that while fintech companies are facing obstacles to growth,they are also finding opportunity.For example,the demand for regulatory technology is growing as federal agencies set new rules for financial technology(page 8).Payment companies are primed for growth as the shift toward embedded