The Future of Fintech Banking

THE FUTURE OF FINTECH BANKING

DAVID MOUKO ELIZAPHAN OMAANYA

THE FUTURE OF FINTECH BANKING

The fintech sector is expected to grow over the coming years in line with an increase in consumer trust in the attendant technologies. Recent research by Ernst & Young has suggested that there’s still significant potential for growth within certain segments of the fintech sector. For example, the adoption of investment and savings services is at 50% among men compared to only 27% among women.

INCREASING FINANCIAL INCLUSIVITY

The rise of fintech will likely mean an increase in financial inclusivity. This is because the fintewch products and services often break down the barriers that some people may face accessing digital payments or opening bank accounts.

BANKING AND FINTECH ALLIANCES

The future will almost certainly see growing co-operation between fintech companies and other establishments, such as the recent collaboration between Apple and Goldman Sachs, which resulted in the launch of the Apple Card. These joint ventures will enable fintechs to continue to innovate by making use of existing banking infrastructure.

THE RISE OF FINTECH WILL LIKELY MEAN AN INCREASE IN FINANCIAL INCLUSIVITY.

For more information about the future of fintech companies, visit the blog of David Mouko Elizaphan Omaanya.