Have you realized how financial services have drastically transformed our lives? If so much has changed in such a short amount of time, can you imagine how the future will look? This paper explores the future of fintech and how companies can implement upcoming technologies.
Download this paper now to explore what the future of fintech offers.
When you ask people about the future, they often think of robots, flying cars, and automated… everything. But what if you ask about the future of fintech? Does the same image come to mind?
Fintech has changed a lot over the past decade and some of its greatest advancements have transformed the way we use and think of money. For example, how often do you carry cash on you? Do you still go to the bank? If your answer is “seldom” or “never,”, there you go. That’s just a glimpse of the power of fintech.
How the new normal pushed the future of fintech
Although it may sound unbelievable to some, the COVID-19 pandemic positively impacted fintech services. The “new normal”, created by lockdown and social distancing measures enforced by governments, fostered a stronger relationship with digital platforms. The current situation has started a powerful transformation in all sectors related to financial services.
As a matter of fact, there has been an 11% increase in financial technology deals all over the world. Europe’s deal activity grew 6% when compared to the previous year and fintech start-up activity in Latin America increased tenfold in a matter of four years. Increased investment has also reassured customers. Now, nearly 63% of them are more willing to try digital payment platforms today instead of cash and analog services.
The current situation is leaving people wondering what the future of fintech entails.
What are the most important technologies to look out for? How will banks, insurers, and start-ups (just to name a few) adapt to an ever-changing landscape?
Hit that download bottom and let’s examine the most important projected trends and their impacts on the industry.