Industry insights, product reviews, and business analyses for all sectors of FinTech—startups and scaleups alike.
The European Union, known for its rigorous approach to consumer protection, has recently taken significant steps to reform its Consumer Credit Directive (CCD). As consumer credit becomes more prevalent across member states, this move signifies the EU’s proactive approach to financial regulation, particularly on the retail side.
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The term “Tech Inertia” refers to the resistance organizations face when adopting new technologies. For financial institutions, lagging behind in technology adoption is not just a minor hiccup; it’s a potentially crippling business problem. In an era where digital transformation is at the forefront of organizational development, financial institutions can ill afford to have tech inertia impede their growth. Let’s dive into the significant costs associated with being too slow to adapt to new technologies in the rapidly evolving financial services sector.
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Data analytics tools are software applications designed to analyze and understand how users interact with their products or services. These tools enable companies to gather data on user behavior, such as actions performed within the app, how often they use the product, what features they prefer, and how long is the time of interaction with specific features. Then, the data is analyzed to provide information on how to improve the product. It’s data-driven and you can’t afford not to use it in 2023. What are the top data analysis tools for tracking product performance in 2023?
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A non-fungible token (NFT) is a mean to authenticate a digital asset. It’s a digital certificate with encryption and blockchain-based verification mechanism. Despite the questionable value and hype being at least partially over, the NFT is still around and even going strong. At least in high-class museums of contemporary art. What NFT trends for 2023 are there and how can you benefit from them?
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Central Bank Digital Currencies (CBDC) are among the strong trends emerging today in the FinTech world. The latest digital currency trends show that turning to the elimination of cash, implementing blockchain, and developing digital wallets are pillars of what might come in the future. A cashless society with billions of financial operations per minute. There are, however, counter actions from major markets. China blocked the usage of crypto, Russia is thinking about it. Where is it all going and what consequences to FinTech will it spawn?
Read moreDuring the last two years, FinTech accelerated and grew through the roof. Partly because of the global success of e-commerce and the widely known consequences of the COVID-19 situation. Now it’s time to take it a step further. What will shape FinTech industry trends in 2023 and what could be the outcome for your company? Let’s review the current market landscape.
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FinTechs going green is a popular subject among investors, startups, software development specialists, and users alike. Sustainable FinTech companies are not a buzzphrase anymore. It’s a strong trend that grows and fuels another revolution in the finance world. A green one; literally and figuratively speaking.
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The high interconnectivity of our world and challenges related to nature and its well-being spawned the rise of ESG consciousness. It stands for environmental, social, and governance criteria in the professional environment. Even companies that have nothing to do with fossil fuels are implementing ESG strategies. That includes FinTech. Why is that important and what is ESG tech? How can both worlds benefit from cooperation?
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Data is bread and butter in modern companies. Relying on your intuition is important but some tools give you an in-depth look. Combining these two methods produces tangible results. Don’t worry, you don’t have to be technically savvy to use data management tools. You just need to prioritize business goals and figure out how they can help you. Here’s a list of the most interesting business intelligence tools you may find useful.
Read moreAt the verge of global recession, looming around every corner, FinTech can be a tool to mitigate at least some of the risks. You can definitely prepare yourself for shifting gears. What FinTech development trends are currently on top and what can you do to make your product stand out?
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Since its inception in 2018 open banking has made a significant impact on the financial landscape in the UK. For over four years now, FinTech firms have been benefitting from open APIs that enable them to customise their open banking apps and services based on the consumer demand. This wouldn’t be possible without open banking platforms that have mastered open banking solutions, acting as a technological intermediary between banks and third parties for the greater good of the industry and optimal customer experience.
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Trending crypto events show us how the market is changing. From software itself, through the implementation of innovative payment options, to the job market. Many segments of professional and social activities are changing, because regulators and customers continue to look through the lenses of potential benefits and earnings. If crypto trends for 2022 show us one dominant thing, it’s definitely this – the market is growing exponentially and the hype train is real.
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Buy Now Pay Later (BNPL) companies allow customers to make purchases with the full amount covered by installments made over time. It’s a convenient and cheap way of buying goods and acquiring some peace of mind. Which companies are trending right now?
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You don’t have to be a millionaire to invest in stocks, currencies or even precious metals. Trading has been a widely available option for decades, but thanks to web based platforms it’s now easier than ever. Such platforms are also great examples of FinTech in practice: how they are made, how they work and what are their best features depends both on the market needs and what their creators can actually offer. Let’s take a look at some of the most popular online trading platforms to find out why they have succeeded.
Read moreWith the crowded market, growing uncertainty and rising, simultaneous user adoption, investment and development decisions are hard. On one hand, we have recession and glooming crisis on the horizon. On the other hand, people are turning to FinTech for addressing their pain points, comfort, ease-of-use. Let’s see what statistics say about the industry. What trends are emerging and how can you use them for your benefit?
We will break down the article into few sections to help you navigate the landscape. We will talk about the industry size, FinTech adoption rates, expert opinions, and investments. Please keep in mind that this is not a full-fledged industry report but rather a summary. Nonetheless, it will prove valuable in the months to come.
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In business, good enough is often not enough. Many people are turning away from incumbent financial institutions because traditional banking can’t provide the level of services they are actively seeking. Meanwhile, FinTech startups introduce innovative service offerings almost every month. Investors keep their eyes open, they don’t want to miss a potential unicorn. Here’s a list of important FinTech investment trends to watch—maybe they’ll bring another industry star.
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Many sports fans have a saying, often expressed on a wall of their neighborhood building: “you will never walk alone”. It shows the mass support of the entire ecosystem designed to help the team. The same goes for InsurTech—the future of the industry lies in platforms and ecosystems. Everything in favour of interconnected services, giving the user the ultimate experience.
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We are living in a global society where “point oh” defines and describes the evolution of things. Industry, internet, social phenomenons. We got Industry 4.0 and Web 3.0. Both complement and complete each other. To some extent, both are a natural consequence of one another. What is Web 3.0 and what is its impact on DeFi and the future of finance?
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“Open banking standards” is a term used for technologies and regulations used to provide third-party service providers consumer’s banking data. This data can be used in many ways. To provide and keep operational things like web and mobile apps, financial services, and more. To make it all possible, governments issued open banking standards and open banking directives. Since compliance, along with security, is the most vital part of FinTech business, we provide you with a brief list of open banking regulations and application programming interfaces (APIs) standards to watch out for in the upcoming months and years.
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October 28th, 2021 marks the date of a big shift. On that day, Mark Zuckerberg announced that Facebook will change the name to Meta, but it’s not the name that got the most attention. The nature of the service will change too. Zuckerberg wants to change a social media platform into a metaverse product. What is a metaverse and how to invest in a metaverse? Especially when Meta will not be the only player on the block?
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Current blockchain industry trends show dynamic changes in adoption and market adaptation. The situation with COVID-19 continues to accelerate business processes; blockchain as well. Companies that already use this solution, expand upon it, finding new implementations and entirely new revenue streams. Firms not convinced, cautiously experiment. No matter what’s what, blockchain trends for 2022 clearly show one thing – the age of distributed databases will continue to go strong, with many opportunities along the way.
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The shortest answer? Many companies want to secure their products, digital applications, ways to do business and methods of verifying cash flows. The longer version? The question of “who needs blockchain” should be replaced with “who already is using it and do you need it as well”. You can find arguments for blockchain in a series of our previous articles. This piece is about market confirmation and practical blockchain uses.
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Why use blockchain? The answer, contrary to appearances, is no – you don’t necessarily need it. Not every business is better for it. There are clear benefits coming from implementation but applying this technology doesn’t make your company more relevant. It just generates unnecessary costs. However, some products do benefit and here are 7 reasons why blockchain is important in today’s FinTech market.
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From a buzzword to reality – open banking has come a long way. It’s now a default setting powering a wide range of products addressed to the retail consumer. Open banking apps have become interfaces for financial services, changing the banking experience.
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FinTech is always bursting with ideas. New trends come and go, applications rise and fall. What’s constant is the consumer’s need to find a tool assisting with everyday life challenges and occasions. FinTech trends in 2022 are special because they sum up an era of product development while pointing towards what’s to come. The market landscape will look like nothing before. Are you ready for it?
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