According to the KPMG Pulse of Fintech study, global investments in the fintech sector increased to $116 billion in 2025, this is against the background of a decrease in the number of deals to 4,719 (versus 5,533 a year earlier). On why investors today choose not the speed of product launch, but the operational stability of the infrastructure, comments by entrepreneur and expert in building complex IT architectures Artem Lyashanov, who has been scaling fintech products on a global level for years.

Fewer deals, more stability

According to Artem Lyashanov, the increase in investment volume against the background of a decrease in the number of deals is a rational choice of investors in favor of a stable infrastructure that can withstand the load of the real world.

The banking sector confirms this shift, focusing on instant cross-border payments (Instant Cross-border Payments) and embedded finance (Embedded Finance), where the integration of financial services into non-financial platforms requires flawless code. In the context of the full implementation of Open Banking and increased regulatory oversight, the industry is shifting its focus from the number of new features to the management of operational risks.

Artem Lyashanov notes that today's fintech is primarily a compliance check, and investors buy the architecture that will not crumble under the pressure of regulators and real traffic.

Architectural maturity vs. operational risks

One of the main drivers of the market in 2026 was consolidation. According to the McKinsey report on mergers and acquisitions in the financial sector, the main signal of the year is the Capability Buying strategy (acquiring companies for the sake of unique technologies or teams).

Private equity firms have also shifted their focus to stable cash flows and protected business value. Qualities that are becoming critical as costs rise.

Another important factor is total due diligence. In a world where money flows have become instantaneous and cross-border, and transactions are virtually unrecoverable, any mistake is too costly.

That’s why sponsor banks and fintech companies are now spending more time building defenses than developing new features.

A quick glossary:

• Capability Buying – the acquisition of a company for its unique technologies, patents or teams, rather than for its market share;
• Sponsor Bank – a bank that provides its own license and infrastructure to fintech companies, allowing them to offer financial services without a separate banking license;
• Operational Risk – the risk of losses due to inadequate or erroneous internal processes, employee actions, system failures or external events.

Early fintech solutions were built on a simple scheme: add a payment option, collect a commission and consider the task completed. According to the McKinsey Decoding ISV Maturity report, today vertical software is becoming the main layer of payment distribution. Precisely because it owns the user context. In a well-built system, payment events are automatically synchronized with billing, onboarding and reporting, forming a single customer experience.

Artem Lyashanov emphasizes that data is an architectural solution. If refunds or payment reconciliation require manual data stitching after the system is launched, the business actually imposes a lifelong tax on inefficiency.

Why control should be more than speed

Previously, speed was a competitive advantage in itself. According to forecasts, the emphasis today is shifting from quick buttons to restructuring the entire financial system. When the movement of funds in payroll, treasury and business processes occurs instantly.

Programmable payments, according to Artem Lyashanov, are a way to make high speed manageable. The transaction logic is coded in advance, and the system itself decides whether to send, pause or split the payment, without waiting for human intervention. This is especially critical for payments to suppliers, refunds and mass payments.

He emphasizes that the decision on the transaction should be made at the moment of its initiation, and not after the funds have already left the account. Speed without proper control creates operational risk, which sooner or later is realized.

What world leaders can learn from emerging markets

The BCG report “Beyond Payments: Unlocking Africa's Second FinTech Wave” became a landmark for the industry in 2026. According to it, Africa accounts for about 74% of the global volume of mobile money transactions, and about 40% of the adult population of sub-Saharan Africa actively uses mobile money.

According to Artem Lyashanov, global fintech today is about building an architecture that will work seamlessly in Lagos or Nairobi. If the product stands the test in emerging markets, it is ready for global scaling.

Background

Artem Lyashanov is an entrepreneur and expert in building complex IT architectures, who has been scaling fintech products globally for years. He comments on the issues of operational sustainability of financial platforms, risk management and architectural solutions for payment infrastructure.