Financial services technology will see a remarkable change in years to come. There will be key forces that will transform the way we look at financial institutions. The market will also see a dramatic change and that is why we are listing the top 4 Fintech trends that will make headlines in 2019 and 2020 going forward:
- Fintech will drive new business models
There was a time when it was a tough ask to break into financial services industry but things have completely changed today thanks to Fintech and the Sandbox approach taken by most Regulators. The global investments in Fintech have been tripled since 2014 which shows promising signs that Fintech will be the chief component in new upcoming business models. Every company with large customer base is launching some Fintech service, the lines are blurring. The budding startups are focused on a particular innovative technology or process and that is why you will see them making an impactful difference in financial services value chain.
- Blockchain will shake things up
Blockchain is the next potential game changer in technology space. The technology changes suggest that Blockchain is here to stay in years to come. It is time when companies look beyond the traditional technology standards otherwise they will have hard time surviving in next few years. The use of Blockchain i.e. Public Ledger makes sure that is becomes an integral part of financial institutions technology and infrastructure.
- Cyber-security will be one of the top risks facing financial institutions
Cyber-threats could have an adverse impact on financial institutions .The rapid technology changes means that we will have tough time handling the cyber-security cases. The use of third party vendors and cross border data exchanges mean that handling cyber-security won’t be an easy proposition.
- Asia will emerge as key center of Technology-driven innovation
In coming years, we will see more urban development in Asia Pacific region. The growing urban development will lead to better technology innovation and improvement in market conditions. Asia will emerge as the key center where you will see prolific technology growth and innovation.
Conclusion : Fintech domain is going to dominate the market. More and more companies will venture in this domain, however the success is only possible with robust and reliable technology base. FinTechLabs is pioneers in providing all-in-one technology solutions in this domain. Talk to our experts or mail us for more details email@example.com / +91-9654100167