How is fintech transforming the financial sector?

The ongoing digitization of financial services and money creates opportunities to build more inclusive and efficient financial services and promote economic development. Fintech is transforming the financial sector landscape rapidly and is blurring the boundaries of both financial firms and the financial sector.

How will fintech evolve in the future?

Technologies such as smart contracts, zero- knowledge proof, and distributed data storage and exchange, which are key to existing fintech innovations such as digital wallets, digital assets, decentralized finance (DeFi), and non-fungible tokens (NFT), will continue to play a prominent role.

Is fintech reversing in 2021?

While initially fueled by the circumstances of the pandemic, this shift shows no sign of reversing. The same survey found that between 80-90% of those who used fintech in 2021 planned to use it equally as much or more going forward. What does all this mean for the future of fintech? Here are six trends we see on the horizon. 1.

How can FinTechs survive a disruption?

Keep the culture alive. Maintain the agility, innovation, and culture that have been the bedrock of disruption so far. Decisions taken today will likely set the pace for fintechs over the mid to long term. The present conditions therefore call for a careful evaluation and focused implementation.