UBS expects global fintech revenues to increase by more than three times over a decade. The bank believes its growth forecast to be rather conservative.

The global fintech industry will increase it sales from $150 billion in 2018 to more than $500 billion in 2030, according to a UBS report on digital currencies and blockchain projects in China. The revenue hence will rise more than three times within little more than 10 years, «Financial Advisor» reported, citing the UBS study.

Neither Revolution nor Disruption

If the forecast proves accurate, fintech will see growth of more than 10 percent for years to come. The analysts at Switzerland’s largest bank believe that fintechs will grow three times as quickly as the traditional businesses in finance.

And still, the UBS forecast isn’t predicting extra-fast growth for the fintech industry and neither does it predict a revolution or disruption. Rather the contrary. The UBS experts believe that fintechs will keep struggling to establish their businesses.

Slow Growth of Penetration

The penetration of the financial market with fintech is rising at a low single-digit rate and the rate is due to increase slowly.

In 2030, the rate of growth of the penetration will have reached a high single-digit level. This forecast will be seen as very conservative, UBS said in the report.