Are you looking to find the coolest new trends in fintech?
Well, you’ve come to the right place. Financial technology has always been one of the most cutting-edge industries. We have come such a long way in the past decades with regard to how we organize our finances.
This is in large part because of the dot com boom. But things have really developed very far since then and there is a lot to take stock of.
So, to help you get your head around the industry, here are the five top trends in fintech to be aware of!
1. Open Banking Evolution
The concept of open banking has been around for a little while now. But the technology is catching up with the market demand for it for the first time.
This means that it is one of the hottest fintech industry trends that are likely to take off in the near future. This technology allows for third-party users to develop their own banking apps through custom APIs, meaning that consumers can avoid some of the difficulties of traditional banking.
2. Green Finance
As the biggest trends in fintech start going skyward, it’s good to know that many firms are keeping an eye on the planet. Consumer demand for green products is at an all-time high, and the finance sector is no exception to the rule.
Firms are becoming more and more green-conscious by ensuring that they invest in green technologies and balance out their resource consumption with neutralizing policies.
3. Social Trading
Of all the fintech marketing trends we have seen of late, the push for social trading might be the most obvious. Trends in fintech have generally focused on how to engage average citizens with financial products.
Using a social trading platform makes this possible. It allows investors to observe what their peers are investing in and how they are performing.
It turns average or first-time investors into pros.
4. Finance Services
There are enough banking fintech trends to go around that it’s fair that third parties get a shot at the big time. This is what is known as the Finance-as-a-Service movement.
Basically, it allows third parties to provide financial services without jumping through the hoops of regulation. It’s a little bit tricky because we can’t have rogue agents out there, but the industry is catching up with the possibility by implementing the right checks and balances.
5. AI Advice
AI technology literally grows smarter by the second. It is taking every industry by storm, but it is one of the most important trends in fintech too.
This is because AI market analysis has the chance to advise regular investors on optimal investment strategies. This was previously something only available to the big firms.
Trends in Fintech Come Every Day
You should now have a good understanding of the most important trends in fintech. But when it comes to fintech there is just no room for complacency.
Just as markets shift, so too does the technology that supports them. So, keep your ear to the ground and be ready when the next trend starts to take off!
If you’ve found this information useful, why not check out some of our other great articles on finance topics?