Intuit in the Spotlight: Growth Opportunities for Fintech Investors

The fintech sector impresses with an impressive growth, valued at $226.71 billion in 2023 according to Expert Market Research, and is expected to grow to $917.17 billion by 2032. These forecasts result from an average annual growth of 16.8% during this period. The breakdown of the industry by categories is interesting: payments account for 20%, followed by alternative financial solutions at 16%, and neo-banking at 14%. Other key areas include wealth management technologies (12%) and business process solutions (10%). The driving force behind this development is strong consumer demand, as reported by more than half of fintech companies. In particular, in emerging markets, digital innovation is increasingly replacing traditional banking systems. However, security, despite technological progress, remains a persistent issue in the industry. Recent incidents, in which about 100,000 US citizens were locked out of their bank accounts due to the bankruptcy of Synapse Financial Technologies, raise questions about the reliability of cooperation between fintech companies and banks. The US bank regulator has responded by proposing stricter rules requiring banks to clearly identify account owners to ensure data access in the event of bankruptcy. In this dynamic environment, Intuit positions itself as a global financial technology company with products like TurboTax, Credit Karma, QuickBooks, and Mailchimp. The company serves 100 million customers worldwide and leverages its expertise in AI to drive growth. For fiscal year 2025, Intuit forecasts growth in various divisions with an average of 16 to 17% for the Global Business Solutions Group and 7 to 8% in the consumer sector. Last year’s 14% increase in revenue highlights the positive development and growth potential the company offers. In the ranking of the most promising fintech stocks, Intuit ranks fourth. However, some undervalued AI stocks could promise higher returns in a shorter time.