With over $13 trillion in global banking and insurance revenues still in play, the fintech sector is set to enter its next chapter of growth, according to Boston Consulting Group's latest report, Fintech’s Next Chapter: Scaled Winners and Emerging Disruptors. The report identifies five major trends that are expected to shape the future of financial technology, pointing to agentic AI, onchain finance, B2B(2X) infrastructure, and a resurgence in lending as key growth pillars.

Agentic AI—AI systems that can operate autonomously with minimal human oversight—is expected to be as transformative as the internet or mobile technology, the report suggests. While most fintechs are still scaling GenAI pilots into production, early-stage companies are already leveraging agentic AI to cut delivery time and costs. Its immediate impact will be felt in software development, but its long-term promise lies in revolutionising commerce, SaaS, and personal financial management. However, scaling agentic AI safely within regulated financial environments remains a key challenge.

Onchain finance, built on blockchain infrastructure, is also nearing a critical inflection point. While stablecoins are already streamlining cross-border payments, the real opportunity lies in the tokenization of illiquid assets like real estate, bonds, and private funds. This could solve problems like slow settlement cycles and high intermediary costs. That said, the pathway to scaling onchain finance requires building interoperable, bank-grade infrastructure and achieving regulatory clarity. Major institutions are already piloting such use cases, but broader adoption is still in the early stages.

Challenger banks, which are now firmly embedded in the banking ecosystem, are expected to see better results from diversifying products and targeting more affluent customer segments than from attempting global expansion. Cross-border growth continues to face regulatory and cultural roadblocks that even traditional banks struggle to overcome.

Lending action

Meanwhile, fintech lending is receiving fresh momentum. Though global fintech-originated loans stand at $500 billion—still a fraction of the $18 trillion US household debt—better customer data, refined underwriting models, and growing interest from private credit funds are creating tailwinds. With $1.7 trillion in assets under management, these funds are becoming significant backers of fintech loans, presenting a $280 billion white-space opportunity. Still, the durability of the fintech lending model through a full credit cycle remains untested.

Looking ahead, BCG sees the next wave of growth coming from three segments: B2B(2X), financial infrastructure, and lending. Businesses continue to face friction in areas like accounting, payments, and treasury management, where embedded fintech solutions and AI could unlock significant efficiencies. Financial infrastructure, though slower to scale due to lengthy implementation cycles, will be central to modernising legacy systems in an AI- and blockchain-enabled world. Lending, particularly beyond unsecured consumer loans, remains underpenetrated and is likely to see innovation in business and secured credit.

With scaled winners now firmly established in areas like wallets, acquiring, challenger banks, and BNPL, the fintech landscape is poised for a new phase—one defined by deep technology integration, infrastructure modernisation, and the rise of new disruptors.