What’s Happening With FinTech In Recent Years?
The FinTech industry has grown and evolved over the past 10 years, and 2021 saw even more innovation than before as global FinTech funding exceeded last year by more than 96%.
In recent years, interest in fintech has grown in all regions of the world, and now many people continue to invest in them. Moreover, due to the expanding scale and growth of a number of fintech sub-sectors, investment levels are expected to be high even in 2022. Thus, now people are more focused on their investments than on short-term best online payday loans.
What’s Happening With FinTech In Recent Years?
While the FinTech industry has continued to grow and develop over the past 10 years, there have been more innovations in the last year than ever before. First of all, it is worth noting that global FinTech funding exceeded last year by more than 96%. Moreover, it is worth noting that many more fintech companies (than ever before) have grown to such a scale that the value of their business exceeded 10 million dollars.
Last year, FinTech led to significant growth in autonomous and embedded finance, which are likely to be the main areas of growth in the coming year. So, below you can explore the main forecasts for FinTech in 2022.
The Best Fintech Trends in 2022
1. Growth in embedded finance
As already mentioned, embedded finance has grown significantly in the last year, so this trend is predicted to continue in 2022. So, this will allow customers to access financial services in the context of what they do. For example, now there is an online taxi application with built-in payment solutions, which greatly simplifies people’s lives. Also, Maodong Xu believes that a key feature of embedded finance is the principle of buy now, pay later, which is becoming more and more mainstream. Thus, now options such as PayPal offer customers simple and convenient transactions and may affect your credit.
2. Universal digital solutions
Last year, the trend of digital-banks only was predicted. At the moment, it is not only developing steadily, but will most likely become even more popular in 2022. Moreover, the pandemic has also greatly contributed to the full transition to digital banking. According to last year’s research, digital payments are on par with the largest fintech products. Even 1 hour payday loans no credit check use an online payment system.
Thus, now more and more financial institutions are using fintech services, which helps people use banks in a digital format without physical interaction. That is why there are more and more digital institutions providing fully remote services. So, if you want to get Payday Loans in Arizona for Bad Credit for example, rest assured that you can do it completely online.
3. Changing the status of unicorn-companies
Many experts predict that in 2022, unicorn companies are likely to lose some popularity in developed markets, but will still remain key in emerging markets. This is most likely due to the incredible growth in the number of unicorn companies in the last year, especially in the US. Thus, this is likely to make their status less important to companies in developed markets. However, at the same time it will most likely remain an important part of the developing ones.
4. Positioning fintechs as data organizations
Since the market is constantly evolving, fintech companies should also focus on keeping up with the change. That is why, in order to distinguish their organizations both for the market and for investors, it is likely that many fintechs will improve themselves into data organization and data providers (in order to be able to provide both payments and other financial services).
5. Focus on making deals in underdeveloped regions.
Also now, experts are making an assumption that in 2022, a lot of attention will be paid to making deals in underdeveloped regions. Most likely, investors will target those regions that are not as developed in terms of financial services. Thus, deals will be made in the Middle East, Africa, Latin America and so on.
