Mobidev: Top 3 Fintech Trends in 2022

As one of the most disruptive industries, FinTech has significantly changed the way we interact with financial companies over the past decade, and it’s not stopping there. Every year brings innovations designed to meet ever-increasing customer expectations. That’s why it’s imperative that business owners and executives understand where we are now and where things are headed in financial technology to stay relevant and competitive.

Three major trends in the global fintech market in 2022

Before we delve deeper into specific FinTech sectors, let’s take a look at the general FinTech market trends that are changing the game in the FinTech industry.

1. WEB3.0 and blockchain provide security and decentralization

With lofty promises and ambitious visions for the future of the Internet, Web3.0 technology and blockchain have exploded around the world. Consumers are increasingly favoring ownership of digital goods, thanks to non-fungible tokens (NFTs) and cryptocurrencies. Blockchain is precisely the technology that supports this virtual space economy by maintaining excellent security and providing the necessary financial infrastructure. While cryptocurrency is a payment method, NFT is a reliable proof of ownership of a specific digital asset.

2. Artificial intelligence makes financial operations smarter

Fintech solutions involve a lot of data, and when it comes to processing all of this data, there is no better technology than artificial intelligence. Specifically, machine learning, artificial intelligence helps in many areas of fintech, such as risk management, fraud prevention, reducing operational costs through optimization, personalizing the banking experience, and automating workflows for team members and customers.

3. Embedded finance expands service scope

Another top fintech trend is embedded finance, which integrates financial technology into non-financial products. For example, when checking out on a website, users can choose to buy goods in installments. Another application is the option to add insurance to items such as cars or electronic devices at checkout. As a result, this can increase conversion rates, generate more valuable data, and improve the competitiveness of products.

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