2021 Interesting Trends in Fintech Industry

Mar 19, 2021

Covid19 has affected many industries from fintech to health care to logistics, but with the beginning of the worldwide vaccine program, every industry has taken a sigh of relief. According to experts, the fintech industry has incredible growth potential due to an increase in digital transactions and adoption of technology & digital infrastructure. With the help of the latest technologies such as Big Data and Artificial Intelligence, Fintech players are ready to even offer personalised services.

The fintech industry is all set to revolutionise the current trends with the help of personalisation in the services where the customers will truly be hailed as a king. Below are some of the trends which will help you to grow in the Fintech market in the upcoming years.

Innovate Financial Services with Top 4 Trends of Fintech  

During the pandemic, people were searching for digital financial services to maintain social distancing. Even after the pandemic, the trend will remain the same. People will look for low-cost, secure, and contactless financial services. Below are some of the ways that will help you to fulfil customer’s demands and thrive in the financial market for a longer duration.

  1. Investment in Robo-Advisory Firms  

There is an increase in the trend of adoption of Robo-advisory firms. Robo-advisory firms offer a better user experience in a cost-effective way. With minimum human intervention, these firms provide financial advice and investment management. These products are based on the latest technologies to keep the finance company ahead of the competition.

2. Immunization from Cyber Attack  

From savings to payments, consumers have opted for an online medium that has caused security alarms for Fintech firms. With the increase in digital products, cyber-attacks have also increased. So, many fintech firms are investing in better security tools and features in the applications. Firms are coming up with a more secure and safe environment that prevents cyber and phishing attacks.

3. Cloud Adoption by Fintech Companies  

Customers can securely access the fintech services with the help of cloud migration. Post-COVID situations have compelled fintech companies to migrate their applications via the cloud. It saves money, provides more security, and offers flexible solutions to the customers.

4. Personalization of Fintech Services  

Many fintech firms are unable to provide personalised financial services to every customer. Fintech companies are including AI-based chatbots that resolve the queries of every customer. AI-based tools help Fintech providers to come up with relevant products and services for their customers. For example, based on the customer’s data, a fintech firm would suggest insurance based on the customer’s age, the nature of the job, and types of expenses. With the help of various technologies, companies are trying to give personalised services.

Financial digital tools are the key assets for low-cost, secure, and contactless financial solutions. If you are looking forward to equipping your business with powerful tools, then you can visit services at Fibonalabs. We offer digital transformation services with the latest technologies so, strengthen your financial services with us in no time.

Fibonalabs has worked on Fintech projects and built scalable digital solutions that were able to increase workflow efficiency, reduce the errors, and speed up the financial operations of their business.

You can contact us to build a resilient digital product for your fintech business.

Vasanth

Co-Founder & Director - Business Development at Fibonalabs

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