1、October 20243Letter From the Authors4Investor Perspectives6Macro11Capital 19ExitsFUTURE OF FINTECH 20242Generative AI is opening possibilities for value creation in fintech.Legacy companies are improving efficiencies by reducing labor costs,while AI-native companies are building novel solutions.The

2、long-term vision is compelling.Hyper-personalization of financial services and advice will accelerate the expansion of open banking through secure data sharing between financial institutions and third-party providers.”FUTURE OF FINTECH 20243Nick ChristianHead of National Fintech and Specialty F Bria

3、n FoleyMarket ManagerFintech and Warehouse L Notes:1)See our AI analysis on pages 17-18.2)See payments share of fintech unicorn value on page 20.3)See our regulatory spotlight on page 10.Heres a conversation starter for your next industry dinner party:Whats the most pivotal moment in the history of

4、fintech?You might say 1967.The first automated teller machine is installed outside a bank in London,unshackling customers from normal business hours.What about 1998?That year saw the first 1 million internet purchases,as electronic payment systems began to forever change how people make online payme

5、nts.Some might say 2009.The Global Financial Crisis shakes consumer confidence in big banks just as millennials are entering the workforce with iPhones in their pockets and mobile banking is born.Then again,what if that moment is now?The tectonic disruption of generative AI(GenAI)is reverberating ju

6、st as the sector grapples with heavier oversight and rising costs.These changes are forcing investors and founders alike to reimagine what fintech is,and what it can become.In this fourth edition of our annual report,The Future of Fintech,we leverage SVBs unmatched proprietary data and our broad net