Fintech Sector Reaches Low Point as AI Captures Investor Attention

Industry leaders at Money20/20 highlight a shift towards sustainable business models amid declining valuations and funding challenges.

Global fintech funding dropped to a five-year low of $113.7 billion in 2023, down from a peak of $238.9 billion in 2021.
Executives emphasize the importance of proven business models and use cases over ambitious but unproven ideas.
Investors are increasingly focused on artificial intelligence, often overlooking fintech innovations.
Despite the downturn, some fintech firms report significant growth and potential for a resurgence.
The event also saw renewed interest in cryptocurrencies, with stablecoins gaining traction as a viable payment solution.