Fintech adoption up 64% with India and China in the lead

Fintech adoption rate has risen to an average of 64% this year, with emerging markets like China and India leading the way, according to a report by Ernst & Young (EY). EY asked more than 27,000 professionals from 27 countries on their use of five fintech categories: money transfer and payments, budgeting and financial planning, savings and investments, borrowing, and insurance. In China and India - where the likes of Ant, Tencent and Paytm dominate - 87% of those surveyed said they used fintech services. South Africa (82%), Russia (82%), Colombia (76%) and the UK (71%) also have high...