A new Deloitte report highlights how fintech companies are shifting their focus from rapid growth to sustainable expansion while strengthening risk and compliance practices. The research, published Jan. 21 by the Deloitte Center for Financial Services, draws on interviews with 10 U.S. fintech executives across risk, compliance, product, innovation, and banking partnership roles.
According to the report, fintech firms are operating in a changing environment marked by slower revenue growth, investor pressure for predictable returns, and heightened scrutiny from regulators and banking partners. Deloitte noted that the industry is moving from “speed to sustainable growth” as firms look to scale responsibly while maintaining innovation.
The report also points to evolving oversight expectations. Federal policy signals in the United States indicate continued support for innovation alongside supervisory standards. At the same time, state regulators are taking a more active role in enforcing consumer protection, financial integrity, and compliance requirements. Deloitte cited actions by multistate coalitions of attorneys general seeking information from buy now, pay later providers and states creating centralized consumer protection functions to oversee digital finance companies.
Banking partners also appear to be increasing scrutiny of fintech relationships following bank and fintech failures in 2023 and 2024. Deloitte referenced a 2024 Alloy report that found 80% of sponsor banks considered compliance requirements challenging, while 39% reported losing at least $250,000 because of compliance violations.
Among the fintech executives interviewed, four primary risk areas emerged as top concerns: financial crime, fraud and cybersecurity; technology model risk and AI explainability; operational risk; and regulatory compliance. Deloitte stated that managing these risks is central to scaling innovation responsibly.
The report also examined governance structures within fintech organizations. Deloitte’s 2024 fintech benchmark survey of 100 companies found that 46% of early-stage fintech firms, defined as up to Series B, lacked an internal audit function entirely. Among those with internal audit teams, half employed five or fewer people. By Series C and later stages, 75% reported having an internal audit function in place.
Board-level oversight also varied. Only 34% of survey respondents said they maintained a dedicated risk committee at the board level, while 75% reported having an audit committee. Deloitte noted that this could indicate a more reactive approach to risk oversight rather than proactive monitoring of issues such as fraud, third-party vulnerabilities, data privacy, or AI bias.
The report described differing dynamics between product development teams and compliance functions. Some fintech companies embed risk and compliance teams early in the product design process. Deloitte cited Marqeta as an example, where compliance teams participate in product development to identify potential concerns early and balance regulatory requirements with customer experience goals.
However, the research also found ongoing friction in some organizations. Product leaders expressed concerns that early involvement from risk teams could slow product launches, while risk leaders said they are often brought into discussions too late in the development cycle. Deloitte concluded that fintech firms with stronger collaboration models tend to align innovation and compliance through structured coordination and shared accountability.
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