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Fueled partly by the coronavirus pandemic—which accelerated consumers’ use of fintech for banking, payments, and investing—fintech has now “reached mass adoption,” according to the annual report by fintech startup Plaid. The percentage of U.S. consumers using fintech swelled to 88% in 2021, compared with only 58% in the 2020 edition of the survey.
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“The Internet has not really come for financial services before, and now it has,” John Pitts, Plaid’s global head of policy, told Fortune. Pitts said the “astonishing” year-on-year increase in consumer use “means that fintech is now one of the most adopted technologies by U.S. consumers.”
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