Unlocking Fintech Potential: Top 7 Opportunities to Transform Financial Industry with the Use of Technology

From paying for a cup of coffee with your iPhone to handling complex financial data at work, you deal with fintech every day. The explosive growth of the technology, that we have been witnessing recently, triggered major changes in every aspect of our life, especially such fundamental one as finance.

With $31.6 billion of investment in the US, with additional $18.1 billion invested globally over the last five years, fintech is currently one of the hottest technology sectors. Both accomplished players like Intuit, PayPal, or Square, and disruptive startups like Plaid, Kabbage or Robinhood are reshaping financial industry.

Fintech market is far from being saturated. The top industry trends include lending and payments. Yet, more opportunities remain to be taken. Here is the definitive list of fintech opportunities that both established businesses and entrepreneurs can use to their advantage.

1. Personal Finance and Banking

2. Mobile Payments and Transfers

3. P2P Lending and Microfinancing

4. Simplified Investing with AI Advisors

5. Crowdfunding the Venture Capital

6. Better Ways to Use Financial Data

7. Accessible Insurance

Final Word

With more regulatory freedom, advanced technologies, and innovative business models, opportunities in fintech still have a strong potential. While both established financial institutions and emerging startups strive to seize the moment and get their piece of the fintech pie, the market will continue to expand in 2016 and years to come.

You can find the original at AltexSoft’s blog: “Unlocking Fintech Potential: Top 7 Opportunities to Transform Financial Industry with the Use of Technology”.

Being a Technology & Solution Consulting company, AltexSoft co-builds technology products to help companies accelerate growth.

Being a Technology & Solution Consulting company, AltexSoft co-builds technology products to help companies accelerate growth.