Fintech has been gaining steam lately due to innovations in the sector. Moreover, fintech usage has increased significantly over the past year. And because the industry has immense growth potential, we think fundamentally sound fintech stocks Sapiens International (NASDAQ:SPNS), Mitek Systems (NASDAQ:MITK), and QIWI plc (QIWI) could be great additions to one’s portfolio. Let’s discuss.The popularity of fintech has grown exponentially over the past year, owing mainly to the remote lifestyle. Also, as people increasingly turn to cryptocurrencies, blockchains, and mobile banking, fintech is expected to thrive. Studies show that 88% of U.S. consumers are now using fintech to some degree.
Fintech financing was up 147% year-over-year in the third quarter of 2021, according to a CB Insights research report. Furthermore, as of October 2021, year-to-date fintech funding had already surpassed the 2020 levels. Investors’ interest has also been growing in the fintech sector due to its payment innovations.
Given the industry’s solid growth prospects, fundamentally strong fintech stocks Sapiens International Corporation N.V. (SPNS), Mitek Systems, Inc. (MITK), and QIWI plc (QIWI) could be quality additions to one’s portfolio now.