FREMONT, CA: The fintech sector is a disruptive field and can significantly influence consumers and businesses of all sizes. It is also a highly regulated environment as governments and regulators understand the need to protect consumers and businesses and give industry players a fair, competitive space.
The fintech industry is one of the most visibly disruptive sectors since it can dramatically impact everyday consumers and the business of all sizes. It’s also potentially a highly regulated sector, with governments and regulators well aware of the need to protect consumers and businesses and provide a fair, competitive environment for industry players.
Here are three fintech trends to look out for:
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Technology for Improved CX
Fintech players can potentially provide more low-cost stock trading and investment offerings, resulting in new players acquiring a higher percentage of the market or encourage the traditional wealth management segment to
Free-share trading and self-help technology for low-cost investment plans can become the standard offerings with the accessibility of passive investment and intense competition on fees.
Increasing Push for a Level Playing Field
Governments will introduce strict regulatory approaches in the banking sector to assure an equitable competitive landscape for fintech players, and current traditional players can have a tremendous advantage over it.
Growing Dominance of Challenger Banks and Neobanks
Challenger banks are established institutions trying to compete with traditional banks. Neobanks are new, online, or mobile providers.
Neobanks and challenger banks, in a low- interest-rate environment, may concentrate on higher saving rates, lower fees, and responsive, convenient services and products. These players can attract large venture capital investments to deliver services via mobile and internet technologies.
