While we know that the financial services industry has a traditional perspective and takes time to adapt to innovation, the pandemic has created a different picture. Fintech app development services have accelerated tangible change by adopting rapid physical and digital transformation, which requires the fintech industry to meet the challenge of equipping businesses with powerful computing systems. 

Changes can also be attributed mainly to the rapid change in consumer behaviour and new emerging patterns set by the clear will of cash-less and contact-less activities.

Some stats below describe the rapid adoption of finance digital transformation.

According to Statista, the share of the population using digital banking in the United States is set to rise to 65.3% by the end of 2022 from 61% in 2018.
According to Forbes, just 14% of the banks halfway or more through their digital transformation efforts have deployed machine learning tools to date.
The digital transformation market is expected to reach $3.3 trillion by 2025, at a CAGR of 23%.