Tuesday, March 21, 2023
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Fintech Trends 2022

With the growth of the fintech space, regulatory bodies are trying to keep pace with the evolving landscape. There are multiple new regulations emerging around the globe, with cryptos and digital assets gaining momentum. Regulatory bodies are also taking a keen interest in data privacy. Disruptive services such as BNPL (banks-to-person lending) are garnering regulators’ attention. In the US, BNPL users are expected to reach 45 million by 2021. Regulators are concerned about late fees and potential debt accumulation for these consumers.

While mainstream financial institutions are regaining their footing, the sustainability movement is expected to become a major focus of fintech. Millennials and Generation Z will be the primary consumers of fintech companies in 2022. Sustainability will be a huge focus in these organizations, as traditional banking will become increasingly competitive. In addition, investors will flock to emerging markets, which hold many promising opportunities. Africa, for instance, is set to reach $5 billion in funding in 2022.

Cross-border e-commerce aims to increase sales and reach customers from overseas. Many brick-and-mortar businesses will be taking the cloud-only route as well. Increasingly, cross-border e-commerce is predicted to reach $4,000 billion globally by 2027, growing at a 27% CAGR. To succeed in this market, a watertight international e-commerce logistics strategy is essential. Fintech trends will enable these companies to simplify international e-commerce logistics by eliminating multiple handoffs and expediting shipments.

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