The automation and digitization of business processes have been gaining momentum for years, but recent events have influenced the fintechs that provide these services by accelerating the adoption of technology across the board. As organizations shifted to remote working models and the conducting of ‘business as usual’ needed redefinition, the spotlight shifted to fintechs due to their inherent ability todevelop the platforms and tools needed to keep disruption to a minimum.
In the midst of this fintech revolution, Finance Magnates sought to further understand what’s driving it and to distill the most important trends resulting from it. To that end, Finance Magnates reached out to fintech experts to get a pulse on how the pandemic has shaped recent developments and how long it will continue to impact the industry.
To that end, the site recently revealed the top 5 fintech trends that have emerged in the wake of the pandemic and the underlying causes. In short,
- Public perception shifted the adoption of fintech platforms from ‘can’ use to ‘must’ use.
- Lower fees for products and services have resulted from consumer-driven product development.
- For the first time, a large number of individuals are becoming retail investors.
- There is a marked increase in alternative assets, such as cryptocurrencies.
- Challenge banks’ are growing exponentially in popularity.
What do these trends mean for the future and beyond? Find out by reading the full article on Finance Magnates: “The Top 5 Fintech Trends in 2020 According to the Experts: How has COVID-19 shaped the trends in the fintech industry so far this year?” and learn from experts on the front line. Finance Magnates is a global provider of banking and technology news and research.
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