Table of Contents:
The current fintech and insurtech landscape in Italy
In recent years, the fintech and insurtech sector in Italy has experienced exponential growth, transforming the way Italians manage their finances. According to the Fintech & Insurtech Observatory of the Politecnico di Milano, about 250 million euros were collected in 2024, with an increase in revenues of 29%. This scenario highlights how startups are becoming increasingly relevant, not only for consumers, but also for traditional financial institutions
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Adaptation to new technologies
Emerging technologies, in particular generative artificial intelligence, are playing a crucial role in optimizing business processes. Currently, 26% of fintech startups have adopted this technology to improve operational efficiency. However, despite the adoption of these innovations, 74% of users continue to prefer home banking and 65% use their bank’s app. This suggests some resistance to change, with only 5% of users willing to automatically share their financial data.
The challenges of sharing data
The reluctance of users to share their data is mainly due to a lack of clarity and awareness. 51% of users do not understand how the collected data will be used, while 49% do not perceive the banks’ motivations in requesting them. In addition, 42% of respondents see no concrete advantages in sharing data. This scenario highlights the need for greater transparency on the part of financial institutions, which must educate their customers about the benefits of sharing data
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The future of financial services for young people
Another interesting aspect that emerged from the survey concerns the use of financial services by teenagers. Italian children between 13 and 19 years old show a growing interest in instant payments and cashback services, with 72% and 49% respectively. However, most of them still make little use of financial products, with contactless payments being the only significant exception. This suggests that financial institutions must develop targeted strategies to attract young people, creating products and services that respond to their needs
and preferences.
Strategies for the future
In a context of profound change, banks and insurance companies are redefining their strategies. Exploring mergers and acquisitions has become a common practice to create synergies and improve operational efficiency. In addition, institutions are investing in internal digital projects and supporting emerging startups to remain competitive. The implementation of new technologies must take place with a responsible approach, taking into account governance, ethics and regulatory compliance
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