LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest list blog on the top seven trends in the fintech industry. Fintech is a segment that has caught the attention of entrepreneurs, CEOs, and people at various levels of the hierarchy due to its rapid growth. Technology and digitization are the primary facilitators for making financial services more favorable.
However, fintech trends are changing so fast that it often gets hard to keep up with them. Conventionally, innovations and other fintech trends have been limited by regulatory worries and a traditional method on the part of the government on such contemporary features. In this blog post, we’ll take you through the top seven trends in the fintech industry.
According to the fintech industry experts at Infiniti, “As technological innovations in financial services advance, the need for transparency in financial systems will also increase.”
View the complete list of the top seven trends in the fintech industry from Infiniti
Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the top seven trends in the fintech industry.
Top seven trends in the fintech industry:
- Payments through NFC: Near Field Communication, or NFC, is already redefining the mode of payment. People can now hold their bank cards up to a reader to make payments - and many nations are using this technology to enable contactless payments. It’s also built into most modern smartphones. The technology can even be surgically fixed into a person so that they can make payments just with a wave of their hand. However, it’s not so far until humans can be seen walking around with implants. As NFC heads towards full maturity, it’ll be interesting to see the new ways in which we can use it – specifically with more and more wearable devices entering the market.
- Multi-currency digital wallets: Remember the times when we had difficulty in exchanging currencies? The rise of new fintech trends has enabled the interruption of currency exchange systems which, until lately, have been entirely ruled by traditional players. The past few years have observed a stable growth in digital wallets mainly due the comfort and security they offer. Digital wallet stores a user’s payment information securely and efficiently; thus, eradicating the need to carry a physical wallet. For instance, a mobile app like CashDash allows you to buy, assemble, and return foreign currency. Also, unlike most digital wallets, the app does not need an ‘old school’ credit card.
- Cryptocurrencies: A digital currency that makes use of blockchain technology and functions in a regionalized network format is known as cryptocurrency. Blockchains are distributed digital ledgers that store a cluster of transactions in groups connected to each other using digital keys. Initial Coin Offerings (ICO) is one of the vital fintech trends that stakeholders of financial services should be aware of in 2018. ICO is a substitute of crowdfunding that has appeared outside of the traditional financial system. It is a critical source of funding for numerous companies, and startups to start their businesses. ICOs are events where buyers are permitted to purchase newly issued tokens in exchange for popular cryptocurrencies like Bitcoin that usually range from one or more weeks.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.