#Global Fintech Trends

[botreetech]

Discover the latest FinTech market trends and innovations shaping the industry. Learn about FinTech adoption for transformative solutions and explore the future of finance.

Don't miss out on this insightful article: https://www.botreetechnologies.com/blog/fintech-revolution-exploring-latest-trends-innovations/

[stark2131]

https://www.statsandresearch.com/report/40284-global-fintech-blockchain-market

[mit-university-shillong]

[mariacallous]

In the German city of Weimar, just a few steps from Enlightenment-era literary luminary Johann Wolfgang von Goethe’s baroque residence, the Lavazza cafe seems determined to remain in the past. This cafe, like many other establishments all over the country, accepts only cash. That old-fashioned and inconvenient mode of payment is still revered in Germany. According to the latest study by Germany’s central bank, the Bundesbank, on payment behavior, Germans pay for nearly 60 percent of their purchases—both goods and services—in cash.

Germany is not the only country standing athwart the global trend toward cashless payments. In Austria, cash is so popular that the Austrian chancellor has claimed it should amount to a constitutional right. Yet in other European countries, such as the United Kingdom, cash will account for just 6 percent within a decade, and in the Netherlands only 11 percent of transactions were made in cash last year. In other bigger economies, the pace of the decline is even faster. While in China 8 percent of point-of-sale (POS) transactions were made in cash, in India, cash use has declined from 91 percent in 2019 to 27 percent in 2022.

But in Germany, an obsession with privacy, mistrust of big-tech and fintech in general, and worries about political and financial crises depleting bank balances overnight—an experience rooted in history as well as a cultural desire for control—all contribute to the country’s love for cash. Arnold, Maria, Elisabeth, and Harald, a group of middle-aged friends who refused to reveal their full names, were taking a break in Weimar from a road trip on their bicycles from Hessen in western Germany. “Nur Bares ist wahres,” said Elisabeth, which means “only cash is true” and is a famous saying in Germany that expresses more than a preference for cash. Arnold said spending in cash encouraged him to spend less and stay in control of his expenses, but more importantly it protected the details of where he was spending his money. “If you use a card, the bank knows everything about you,” he said. Harald jumped in and added that if he used digital means to pay, he would “feel surveilled.”

But as some European states, such as Sweden, go nearly cashless, with only 6 percent of transactions still settled with banknotes, how does Germany’s preference for cash impact the largest economy in Europe? Perhaps not as much as one might think.

On average, Germans carry more than 100 euros in their wallets—much more than their counterparts in many other developed nations. Since the euro was introduced, the Bundesbank has issued more cash than any other member in the 27-nation European Union, and according to the Bundesbank report, even though cash use was down from 74 percent in 2017, as high as 69 percent of respondents expressed their intention to continue to pay in cash.

Agnieszka Gehringer, a professor at Cologne University of Applied Sciences, said German fondness for cash can be understood via cultural attachment theory and behavioral factors. She explained that, culturally, cash is seen as safe by Germans. “If I have been customarily using cash as a payment method for ages and I know how it works and my data remain protected, there is no particular reason to change my habit,” she told FP.

Gehringer traced these behavioral and cultural attitudes in part to hyperinflation witnessed in the Weimar Republic in 1923, when a loaf of bread cost billions of marks; steep devaluation of the currency after World War II, which washed out nearly 90 percent of people’s savings; and the division of the country, which left the Soviet-controlled east impoverished. “This series of turbulences is considered the basis of the so-called German angst—the fear of losing control,” Gehringer said. “Beyond culture and attitude, for some others, cash is a means of self-control and self-supervision: It is more transparent and easier to track the record of personal expenditures.”

While the fear of losing everything in a quick turn of events was passed on from generation to generation, so was the positive symbolism of the Deutsche mark. Post-World War II Deutsche marks rose in value and symbolized Germany’s resurgence and prosperity. In the late 1990s, Germans reluctantly agreed to a common European currency—but perhaps only because by then Germany was among the biggest European economies and influential in European decision-making.

Another reason to avoid possession of plastic money or credit cards is the fear of debt. “Germans do not like debt,” said Doris Neuberger, head of the money and credit department at Germany’s University of Rostock. In fact, the German word for debt and guilt are derived from the same word (Schuld), and this moral charge helps produce the country’s “low debt ratio and low usage of credit cards.”

Using cash is also easy for a wide range of consumers, including the elderly, who may be unfamiliar and uncomfortable with using smartphones or keystrokes online. It’s also cheaper for retailers and end consumers on transactions under 50 euros, as the cost of holding cash is lower than the fees incurred with non-cash payments, according to the Bundesbank. But the cost of producing, storing, and transporting bank notes and coins is eventually passed on to consumers, experts say.

There are other downsides to excessive use of cash, too. According to a report by the Office of Technology Assessment at the German Bundestag, high levels of cash holdings reduce the central bank’s “monetary policy steering options,” Gehringer wrote. “Sure, holding cash has a higher hurdle to make the money available for financial investments.”

But most experts say the argument that cash exacerbates the shadow economy tends to be overstated. The Office of Technology Assessment report noted that in countries with less cash spending, such as Switzerland, the Netherlands, and France, there is less activity in the shadow economy when compared to countries such as Spain, Italy, and Greece, which have high rates of cash use. But it added that in Sweden, despite a minor role for cash, the shadow economy is “medium-sized,” while in Austria and Germany, with relatively high shares of cash transactions, the shadow sector is relatively small.

In 2019, the Bundesbank conducted a study on the extent of “illicit cash use” in Germany, in collaboration with Friedrich Schneider, a professor at the Johannes Kepler University Linz. It said that without more in-depth analysis it was “impossible to distinguish those stocks of banknotes that are being held as a store of value—and kept at home under the mattress totally legally and legitimately by every citizen—from illicit banknote stocks.” On average, a German hoards more than 1,300 euros at home or in a safe deposit box.

“Available estimates for the size of the shadow economy lie between 2 percent and 17 percent of gross domestic product,” the study said. “This range alone shows that studies of the shadow economy are subject to an above average degree of uncertainty and all results should be interpreted with care.”

“Cash does not promote a shadow economy, as it is not a cause,” Schneider, a co-author of the study, told FP. “Causes are tax burden, regulations, etc.” Schneider said the higher the tax burden, the higher the motivation to evade taxes. “If cash is completely abolished, then people find other means.” He added that earlier uses of cash were more firmly linked to tax evasion than now, when “it is very difficult to open a bank account abroad with a large cash sum of money.” Money laundering in real estate is deterred with a different set of regulations.

Neuberger claimed much more criminal activity is conducted with digital money than with cash. “Nowadays, the ideal medium for illegal drug transactions is not cash, but Amazon gift cards,” she said. “Gift tokens allow for anonymous payments anywhere in the world and, unlike cash, do not require a face-to-face transaction. The same holds for prepaid credit cards, which can be loaded with cash anonymously.”

Burkhard Balz, a member of the executive board of the Deutsche Bundesbank, told FP no initiatives have been taken by the government to discourage or disincentive the use of cash and that it is “an excellent back option should other payment methods end up temporarily out of action—because of a power outage or software error.” Regulations to limit cash use are deemed politically unpopular in Germany, especially since people and experts just don’t see any disadvantages to carrying on with folded euros in their pockets and wallets.

A digital euro, however, could reduce the costs of producing, storing, and transporting cash. It wouldn’t be tied to any intermediary banking institution—as opposed to electronic payments, which are intermediated by multiple banks—and won’t even require a bank account. Balz said the digital euro would ensure “the accessibility and usability of central bank money alongside cash in a digitized world.”

“Currently, the Eurosystem is about to conclude its two-year investigation phase on a digital euro and may move into the next phase of the project—the preparation phase,” he said, “provided that the [European Central Bank] Governing Council takes this decision in late autumn this year.”

At least some private banks believe that payments made with the digital euro could still be tracked and help with anti-money laundering regulations, but not without placing limits on the highly prized privacy of citizens. Furthermore, it could lead to a reduction in deposits to credit institutions and limit the ability of the banks to offer loans.

Online purchases rose from 6 percent in 2017 to 24 percent in 2022 amid the COVID lockdown, but neither the pandemic nor digitization so far has managed to eliminate the appeal and comfort of cash for Germans. Even though Germany’s banking industry envisages a growth of 2 percent per year in card payments, a cash decline of 3 percent a year would still mean that, in 2030, Germans will carry out at least 30 percent of transactions in cash.

[xettle-technologies]

The impact of sustainability in fintech: reflections from the summit

In recent years, the Fintech industry has witnessed a paradigm shift towards sustainability, with an increasing emphasis on integrating environmental, social, and governance (ESG) factors into financial decision-making processes. This transformative trend took center stage at the latest Fintech Summit, where industry leaders converged to explore the intersection of sustainability and financial technology. Among the prominent voices shaping this discourse was Xettle Technologies, a trailblazer in Fintech software solutions, whose commitment to sustainability is driving innovation and reshaping the future of finance.

Against the backdrop of global challenges such as climate change, resource depletion, and social inequality, the imperative for sustainable finance has never been greater. The Fintech Summit provided a platform for thought leaders to reflect on the role of technology in advancing sustainability goals and fostering a more resilient and equitable financial ecosystem.

At the heart of the discussions was the recognition that sustainability is not just a moral imperative but also a strategic imperative for Fintech firms. By integrating ESG considerations into their operations, products, and services, Fintech companies can mitigate risks, enhance resilience, and unlock new opportunities for growth and value creation. Xettle Technologies’ representatives underscored the company’s commitment to sustainability, highlighting how it is embedded in the company’s culture, innovation agenda, and business strategy.

One of the key themes that emerged from the summit was the role of Fintech in driving sustainable investment. Through innovative solutions such as green bonds, impact investing platforms, and ESG scoring algorithms, Fintech firms are empowering investors to allocate capital towards environmentally and socially responsible projects and companies. Xettle Technologies showcased its suite of Fintech software solutions designed to facilitate sustainable investing, enabling financial institutions and investors to align their portfolios with their values and sustainability objectives.

Moreover, the summit explored the transformative potential of blockchain technology in advancing sustainability goals. By enhancing transparency, traceability, and accountability in supply chains, blockchain can help address issues such as deforestation, forced labor, and conflict minerals. Xettle Technologies’ experts elaborated on the company’s blockchain-based solutions for supply chain finance and sustainability reporting, emphasizing their role in promoting ethical sourcing, responsible production, and fair labor practices.

In addition to sustainable investing and supply chain transparency, the summit delved into the role of Fintech in promoting financial inclusion and resilience. By leveraging technology and data analytics, Fintech firms can expand access to financial services for underserved populations, empower small and medium-sized enterprises (SMEs), and build more inclusive and resilient communities. Xettle Technologies’ representatives shared insights into the company’s initiatives to support financial inclusion through digital payments, microfinance, and alternative credit scoring models.

Furthermore, the summit highlighted the importance of collaboration and partnership in advancing sustainability goals. Recognizing the interconnected nature of sustainability challenges, participants underscored the need for cross-sectoral collaboration between Fintech firms, financial institutions, governments, civil society, and academia. Xettle Technologies reiterated its commitment to collaboration, emphasizing its partnerships with industry stakeholders to drive collective action and scale impact.

Looking ahead, the future of sustainability in Fintech appears promising yet complex. As Fintech firms continue to innovate and disrupt traditional financial systems, they must prioritize sustainability as a core principle and driver of value creation. Xettle Technologies’ visionaries reiterated their commitment to sustainability, pledging to harness the power of technology to build a more sustainable, inclusive, and resilient financial ecosystem for future generations.

In conclusion, the Fintech Summit served as a catalyst for reflection and action on the role of sustainability in shaping the future of finance. From sustainable investing and supply chain transparency to financial inclusion and resilience, Fintech has the potential to drive positive change and advance sustainability goals on a global scale. Xettle Technologies’ leadership in integrating sustainability into its  Fintech solutions exemplifies its dedication to driving innovation and creating shared value for society and the planet. As the industry continues to evolve, collaboration, innovation, and sustainability will be key drivers of success in building a more sustainable and resilient financial future.

[ymw011]

Unveiling the Job Market: How Many Jobs Are Available in Finance Services in 2024?

In the ever-evolving landscape of finance, the job market plays a pivotal role in shaping career aspirations and industry trends. As we step into 2024, professionals and aspiring individuals  are eager to uncover the opportunities awaiting them in the realm of finance services, particularly in the United States. This article sheds light on the abundance of opportunities available in the finance services. 

Exploring the Finance Job Market Landscape:

Quantifying Opportunities:

How many jobs are available in finance in the USA?

Analyzing recent statistics and projections to gauge the scale of employment opportunities.

Factors influencing job availability, such as economic conditions, technological advancements, and regulatory changes.

Diverse Sectors, Diverse Opportunities:

Breaking down the finance sector into subcategories, including banking, investment management, insurance, and consumer services.

Highlighting the unique job prospects within each sector and the skill sets required to excel.

Identifying emerging roles and specialties that are gaining prominence in response to market demands and industry shifts.

Finance in the Digital Age:

Examining the impact of technology on job creation and the transformation of traditional finance roles.

The rise of fintech companies and their contribution to job growth, particularly in areas like digital banking, payment processing, and financial analytics.

The demand for professionals with expertise in data analysis, cybersecurity, and artificial intelligence within the finance sector.

Investment Management: A Thriving Field:

How many jobs are available in investment management?

Unveiling the job opportunities within investment firms, asset management companies, and hedge funds.

The significance of skilled portfolio managers, financial analysts, and risk assessment specialists in driving investment strategies and maximizing returns.

Exploring the global reach of investment management careers and the potential for growth in international markets.

Consumer Services: Meeting the Needs of Individuals:

Evaluating the job market within consumer-focused finance services, including retail banking, wealth management, and financial advising.

The demand for client relationship managers, financial planners, and retirement advisors in assisting individuals with their financial goals.

The role of personalized financial services and digital platforms in catering to the diverse needs of consumers and enhancing their financial literacy.

Trends Shaping the Future:

Anticipating future job trends in finance services and the skills that will be in high demand.

The growing importance of sustainable finance and environmental, social, and governance (ESG) investing, leading to opportunities in green finance and impact investing.

The influence of geopolitical factors, regulatory reforms, and demographic shifts on the finance job market landscape.

Conclusion:

As we go through 2024, the finance job market in the United States continues to offer a lot of opportunities across various sectors. Whether aspiring to go into investment management, consumer services, or the dynamic world of fintech, individuals with the right skills and expertise are well-positioned to thrive in this ever-evolving industry. By staying abreast with market trends, honing relevant skills, and embracing innovation, professionals can seize the abundant opportunities awaiting them in the realm of finance services.

[financetechnology]

What Is Buy Now, Pay Later (BNPL)? How does it work?

First created decades ago, the concept of Buy Now Pay Later (BNPL) is the idea of consuming goods and services first and then paying post-consumption. It is not something new in society– in fact, it has been trending for years at local restaurants and eateries. Shopkeepers or owners practice this in a form of a ledger entry for every individual that would buy things and then collect the compensation at the end of every month. For this, the payee would diligently record all the purchases and send over the details. Individuals can tally them and return products that are not relevant while paying for the rest. 

But one question that comes to mind is how it works on a larger scale and does the payee lose money on the interest by not getting the money immediately?

Before we move on to answer this question. Let us check a few quick facts.

Almost 10 percent of eCommerce transactions in Australia are paid using BNPL.

BNPL proved to be the fastest-adopted payment method in India and UK in 2020.

More than half of US customers prefer to use BNPL services.

It is estimated that BNPL will account for 12 percent of total global eCommerce spending by 2025.

Well, the facts show that BNPL is quite popular among customers across various countries. So what exactly is BNPL? 

Buy Now Pay Later abbreviated as BNPL is an alternative digital payment method that permits customers to purchase goods and services without committing to the full payment upfront. By doing so, customers will get the leverage to immediately finance their purchases and pay them back in fixed installments over time. For example, a customer making a $1000 purchase gets the leverage of paying back in say four interest-free installments of $250. 

These services are widely used by businesses, especially eCommerce retailers in order to increase conversion, and average order value while also reaching new customers. It is reported that businesses that use BNPL services have a 27 percent incremental uplift in sales volumes. 

For more: https://fintecbuzz.com/what-is-buy-now-pay-later-bnpl-how-does-it-work/

For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News

[businesscrown]

Top 5 Technology Trends in the BFS Industry

The banking and financial services (BFS) industry has been a significant player in the global economy, and technological advancements have had a profound impact on it.

A number of BFS companies outsource various business processes to third-party service providers to reduce costs, improve operational efficiency, and enhance customer experience. These banking BPO services enable BFS firms to prioritize their core business activities.

With the growing need to enhance customer experiences, streamline operations, and comply with regulatory requirements, these firms are adopting new technologies to stay ahead of the curve. In this blog, we will discuss the top 5 technology trends that will change the face of the BFS industry, 

Digital Channels Over Contact Approaches

The trend towards digital banking is gaining momentum, with consumers increasingly choosing digital channels such as online and mobile banking over traditional contact methods like visiting branches or contacting via phone. As digital maturity increases, this trend is expected to continue, easing customer interactions.

Experience-driven Enterprise

The banking sector has realized the role of good customer experience in boosting business. As part of their digital transformation, banks are emphasizing customer experience by developing solutions that prioritize ease, security, comfort, and engagement for their customers. Banks are working towards providing personalized offers, incorporating customer preferences, and enhancing the overall banking experience.

Open Banking API

In the current financial landscape, open banking is an essential driver of innovation and competition, forcing traditional banks to adapt to the changing environment. It provides customers with access to a wider range of services, products, and providers, and it allows for more personalized and tailored financial solutions. Banks can now exchange data with fintech and other third-party service providers using open APIs. As the lines between banking and other financial service providers blur, APIs have become a powerful tool for banks to develop new opportunities in cross-selling products and transactions.

These applications facilitate transactions on digital platforms more quickly, securely, and efficiently, increasing competitive pressures on banks to keep up with customer demands. Banks that embrace open banking and leverage APIs to provide innovative services will have a competitive advantage over those that don't.

Mobile Banking

In recent years, mobile banking has gained significant traction as customers can perform various banking activities, including checking account balances, transferring funds, and paying bills, from their smartphones due to the proliferation of smartphones and the internet. BFS firms are investing heavily in mobile banking technologies to enhance customer experience and improve customer retention.

Cloud Computing

The use of technology in the BFS industry is evolving rapidly, and one of the key trends driving this transformation is the adoption of cloud computing. BFS firms are leveraging this technology to reduce infrastructure costs, improve data security, and enhance scalability. With the growing need for real-time data processing and analytics, cloud computing is expected to play a significant role in the future of the BFS industry. In addition to the above, banks can also leverage banking BPM (Business Process Management) to streamline their operations and improve efficiency. By automating processes and workflows, banking BPM enables banks to reduce costs, improve service quality, and enhance customer experience. As the BFS industry continues to evolve, banks need to stay updated with the latest technology trends to remain competitive in the market.

[ashishaggarwalacubeventures]

7 Facts You Must Know Regarding Startups In 2023

You are saying that you have a burning inkling that you think could transform the world in any way? Oh, you are desiring about earning millions or even billions of dollars by launching a business around this boiling idea? Then you could probably be the father of a Startup.

Industry professional, Ashish Aggarwal, CEO of Acube Ventures insinuates that Startups are prominent business prototype that steers invention and economic promotion across the world. An exotic set of products and services are established by startups each year. They are the articulation of imaginative and ambitious entrepreneurs who have remarkable ideas.

India has evolved to be the third-largest startup ecological community in the world after the US and China. The first Unicorn was seen in India in 2011, and almost after a decade in 2022, India crossed the mark of 100 Unicorns. The bragging of 100 Unicorns is not an ordinary affair, and that is why the startup ecosystem is flinging in joy and bulging with dignity.

"Startups in India have grown remarkably over the last six years.

The number of newly recognised startups around the world has heightened to over 14,000 in 2021-22 from only 733 in 2016-17, a survey said.

When someone says the word “startup”, we usually instantly think of diverse triumph stories and exponential business expansion. However, in actuality, not all startups are prosperous. We usually only hear about the winners, and that is one-sided information that doesn’t tell the entire story. Everyone wants to listen to favourable achievement anecdotes, but you need to know all of the details if you want your startup to prosper.

Mr Ashish Aggarwal, an Industry Expert and Consultant has laid out 7 most crucial details about startups, including statistics, facts, and trends that will help you give a decent awareness of the universal startup landscape:

1. Dispersion of startups worldwide as per industry - 7.2% of the startups in the world function in the Fintech industry which is followed by the healthcare sector with 6.9%, Artificial intelligence with 4.9%, Gaming industry with 4.7%, Adtech commerce with 3.2%, and Edtech sector with 2.9%. Even though there isn’t entirely accurate data about enterprise dispersion, it’s clear that contemporary startups gravitate more towards the online network, cyberspace, the internet and digital technologies. With this information, we can also discern which industry is adequate for startups at the moment.

2. The valuation of E-Commerce revenues globally is approximately $3.5 trillion - E-Commerce is one out of the most prominent industries for young startups with rapid growth expected in the future. The next enterprise in line is “FinTech” i.e. Financial technology. Another huge focus of new startups is cybersecurity. These companies realize how crucial online security will be in the future. FoodTech combines food and technology and is another famous enterprise for startups. With over $16 billion of investments in 2018, EdTech is coming to be another outstanding startup industry that provides educational technology remedies to people worldwide.

3. Over 68% of startup businesses started as home businesses - The idea has to commence somewhere and form posture. Even though maximum startups don’t have the integral allocation at the onslaught to insulate office expenses, they can launch their operations from home.

4. The ‘sharing economy market' is expected to cross a total revenue of $335 billion by 2025 - In just a matter of a few years, sharing economy startups namely, Airbnb and Uber have grown exponentially and solidified a global existence. At the moment, Airbnb is valued at $24 billion, and Uber is worth $50 billion. In 2014, the total revenue of market sales was $17 billion, which means that in just eight years, the projected earnings of this market grew more than 20 times.

5. AI is presently the most profitable innovation technology -Over 63℅ of entrepreneurs agree that AI, not just presently but for at least the next 10 years is the most prominent technology. The tracts of this technology with the highest potential are autonomous transportation and huge data. Even though these two sectors are already making strides, it’s anticipated that they will flourish substantially in the close future.

6. ByteDance is valued at over $350 billion - The most profitable unicorn company in the world, ByteDance (China) is a tech company that owns Tiktok. There are presently 1000+ Unicorn companies around the world. However, the maximum of them is tracked down in China or the United States.

7. 95% of entrepreneurs that establish startups have at least a bachelor’s degree - Many people claim that education isn’t significant. They talk about Mark Zuckerberg and Elon Musk as instances. However, the majority of the people who birthed the world’s most triumphant startups have a higher education.

Ashish Aggarwal aspires to watch numerous Indian Startup Parents succeed in their entrepreneurial endeavours, which is why he shares his invaluable insights about startups. According to him, The startup industry will persist to be the driving component for global innovation and business development for many years. Nonetheless, companies must learn how to adapt to trends while being endurable and productive so that more startups can withstand the dynamic business environment.

[mobio-solutions]

Top Fintech Trends That Shape Financial Future In 2023

The global financial services industry is going through a major transformation. It’s evident from the surge of fintech startups working in this space. With innovations like the blockchain and Robo-advisers, traditional banking is getting disrupted at an unprecedented pace. Financial institutions invest billions of dollars to keep up with digital payments and personal fintech apps development. But it’s not just about technology. Fintech trends will significantly impact the future of banking and beyond. Here are top Fintech Trends That Shape Financial Future in 2023.

Better Customer Experience and Collaboration

Digital transformation is happening in every industry. It’s not just about technology anymore. It’s about bringing customer experience to a new level. The banking sector is particularly well suited for this. Traditional banking has been very centralized. It’s not just about bringing digital banking to the masses. It’s about bringing the banking experience to the smartphone. Automated customer assistance, digital transactions, voice assistance, and more are expected to come shortly. This will result in a better experience for both customers and banks.

Digital Asset Management and Trading

Traditional banks rely on physical assets like cash and deposits. This poses security risks because of the risk of theft or damage.

Digital assets allow financial institutions to offer a range of financial services.

Blockchain technology is expected to transform trading and investment management. With digitization, financial institutions can now offer a range of services like direct trading or via smart contracts. This can make asset management more efficient and transparent. It can also reduce the costs of trading due to automation.

Also Read: Top 5 Creative Fintech App Ideas To Grow Your Business

NFC Payments and Fraud Detection

NFC payments have been around for a while. But it’s becoming commonplace in countries like the United States and Japan. The introduction of various mobile wallets is expected to increase. It can also reduce fraud due to the use of an original ID. Many banks are now offering this service. This increases the adoption of NFC payments. It also allows banks to detect fraud and better serve their customers.

NFC payments are expected to increase. This can be attributed to the rise of mobile payment systems like Apple Pay and Android Pay. The rise of fintech and innovations like Robo-advisers are expected to facilitate the process.

Fraud detection is expected to improve. With the rise of AI and machine learning, banks can detect more types of fraud. In fact, it can even help customers manage their money.

Artificial Intelligence and Blockchain Integration

Artificial intelligence is expected to become the next big thing in banking. Apart from helping consumers manage their money, it can also be used for fraud prevention.

AI is already being used for detecting fraudulent transactions at an early stage. It can also be used for making predictions to improve the customer experience.

Blockchain technology is expected to become more integrated with the financial sector. Government regulations and players’ efforts to expand the use of blockchain have led to a surge in interest in the technology. It can transform the industry, especially in the financial sector.

However, it will take some time for it to gain traction in the market. AI and blockchain integration will also help banks improve the customer experience.

Robust APIs and User-friendly Websites

As the adoption of digital channels increases, banks will have to improve their APIs and make them more robust. APIs are the key that unlocks the power of apps.

They are used by developers to develop apps that can be plugged into the bank system. Another trend that will be helpful for banks is user-friendly websites.

With the increase in mobile banking transactions, banks have been focusing on making their websites more interactive. They now have to rely more on AI and machine learning to make their websites more engaging for customers.

Also Read: Best Technological Aspects For FinTech App Development

Insurtech Will Disrupt Financial Sector

The insurance sector is also expected to be impacted by increased digital payments. Insurtech companies have shown great potential to disrupt the traditional model of insurance. These companies offer insurance through blockchain technology and help consumers save money using their personal data.

Another interesting trend that will significantly impact the financial sector is the rise of asset management. The emergence of Robo-advisers and investment platforms has encouraged asset managers to shift towards a more digital approach. The emergence of new technologies also means that startups can offer better financial services. With the rise of machine learning and artificial intelligence, asset management is expected to become more sophisticated.

Conclusion

The fintech revolution has transformed how people save, transact, and invest. It has also led to the growth of new fintech mobile app development services. Artificial intelligence, blockchain technology, and the internet of things have driven the revolution. There’s no sign of slowing down, and these are just some of the fintech trends that will shape the future of Financial services in 2023.

The fintech ecosystem must evolve to make it accessible and equitable for everyone. Mobio Solutions is a leading Fintech app development company. We pride ourselves on producing sturdy fintech apps and providing our clients with loads of joy with our exceptional work ethics.

[eurobliss]

EuroBliss: Ride the Crypto Wave to a Prosperous Future

In the ever-evolving world of finance, a new revolution is taking shape - the rise of cryptocurrencies. EuroBliss, a forward-thinking fintech company, is at the forefront of this exciting transformation, empowering individuals and businesses to capitalize on the immense potential of the crypto market.

Cryptocurrencies, with their decentralized nature and cutting-edge blockchain technology, have disrupted traditional financial systems, offering unprecedented opportunities for wealth creation and global integration. EuroBliss recognizes this paradigm shift and has dedicated itself to guiding our clients through the complexities of this new frontier.

EuroBliss's mission is a deep understanding of the crypto ecosystem. Our team of seasoned financial experts and technology innovators has meticulously studied the market, identifying the most promising cryptocurrencies and investment strategies. Armed with this knowledge, we provide our clients with a comprehensive suite of services designed to maximize their returns and minimize their risks.

Why EuroBliss is the perfect for your crypto journey?

Understand the Crypto Landscape: The world of cryptocurrency can be complex and intimidating for newcomers. EuroBliss offers cutting-edge trading platforms, secure cryptocurrency wallets, and educational resources to help our clients navigate the dynamic crypto landscape. Our state-of-the-art technology, combined with our deep industry expertise, ensures that our clients have the tools and knowledge they need to make informed decisions and achieve their financial aspirations.

Invest with Confidence: With EuroBliss, you can invest in a variety of cryptocurrencies with confidence. We provide a secure and user-friendly platform that allows you to easily buy, sell, and hold your digital assets. Our team of experts is always on hand to offer guidance and support throughout your investment journey.

Ride the Crypto Wave: The cryptocurrency market is known for its volatility, but it also presents immense potential for growth. EuroBliss can help you develop a sound investment strategy that aligns with your risk tolerance and financial goals.

Build a Prosperous Future: By investing in cryptocurrency with EuroBliss, you can take control of your financial future. Cryptocurrencies offer an alternative to traditional investment vehicles and have the potential to generate significant returns.

Why Choose EuroBliss?

At EuroBliss, we are passionate about helping our clients achieve financial success through cryptocurrency.

Security: We prioritize the safety of your funds with industry-leading security measures to protect your digital assets.

Transparency: We believe in open communication and provide regular updates on market trends and our platform's features.

Customer Support: Our dedicated customer support team is always available to answer your questions and address your concerns.

Innovation: We are constantly innovating and developing new features to enhance your crypto experience.

How to get started with EuroBliss Today!

Create an Account: Visit our website and sign up for a free EuroBliss account.

Complete Your Profile: Provide some basic information to complete your profile and verify your identity.

Fund Your Account: Deposit funds into your EuroBliss account using your preferred payment method.

Start Investing: Explore the variety of cryptocurrencies available on our platform and start investing!

With EuroBliss, you have the knowledge, tools, and support you need to navigate the exciting world of cryptocurrency and achieve your financial goals. Let's ride the crypto wave together towards a prosperous future!

We work closely with each client to assess their financial goals, risk tolerance, and investment timelines, crafting a tailored strategy that aligns with their unique needs. Whether you're a seasoned investor or new to the crypto world, EuroBliss is committed to empowering you to ride the crypto wave to a prosperous future.

[marketresearchinfi]

Alternative Finance Market,Forecast and Analysis 2023-2027

Originally published by Technavio: Alternative Finance Market by Type, End-user, and Geography - Forecast and Analysis 2023-2027

The global alternative finance market is poised for substantial growth between 2023 and 2027, with an estimated increase of USD 63.35 billion and a forecasted Compound Annual Growth Rate (CAGR) of 7.71%. This growth is primarily driven by the promise of higher returns for investors and the rapid expansion of the market in the Asia-Pacific (APAC) region.

Market Size and Forecast: The alternative finance market is projected to witness robust growth, fueled by factors such as heightened investor returns and the burgeoning APAC market. This growth trajectory is expected to result in significant market expansion during the forecast period.

Market Segmentation:

By Type: The Peer-to-Peer (P2P) lending segment is anticipated to experience substantial growth, driven by factors such as the increasing number of online consumer lending platforms and technological advancements in financial transactions.

By Region: North America is expected to dominate the global alternative financing market, contributing around 72% during the forecast period. The growth in North America is attributed to factors such as the proliferation of P2P lending and crowdfunding, rising Internet penetration, and the presence of a large number of Small and Medium Enterprises (SMEs).

Market Dynamics and Customer Landscape: The market is witnessing significant growth propelled by fintech innovations, technological advancements, and evolving consumer preferences towards accessible and transparent financial solutions. Alternative finance platforms offer greater flexibility and accessibility, particularly benefiting small businesses facing stringent requirements from traditional banking institutions.

Key Market Drivers: Enhanced returns for investors remain a primary catalyst driving market growth. Alternative finance platforms offer superior returns compared to conventional investment options, attracting investors seeking higher returns on their investments.

Significant Market Trend: The rapid growth in the APAC region, characterized by the presence of numerous SMEs, is a significant trend driving market expansion. Growing Internet penetration and smartphone usage in APAC are encouraging individuals and businesses to utilize alternative finance platforms.

Major Challenge: The high risk of credit default poses a significant challenge to market growth. Borrowers in alternative finance often lack collateral assets or have poor credit ratings, leading to higher default rates compared to traditional financial institutions.

Key Market Players: Companies in the alternative finance market are employing various strategies such as alliances, partnerships, mergers, acquisitions, and geographical expansions to enhance their market presence. Major players include Bondora Capital OU, LendingClub Corp., and Funding Circle Holdings Plc, among others.

Market Analyst Overview: The market is experiencing notable growth driven by innovative models like P2P lending and crowdfunding. Emerging technologies such as IoT, AI, and ML are revolutionizing the market landscape, offering diverse funding options beyond traditional banking systems.

Conclusion: The global alternative finance market is poised for significant expansion during the forecast period, driven by factors such as heightened investor returns, rapid APAC market growth, and technological advancements. Despite challenges such as credit default risks, the market offers diverse financial solutions catering to evolving consumer preferences and business needs.

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Startups of Greater Interest Today: Trends and Insights

The startup landscape is constantly evolving, with certain sectors garnering more interest from investors based on current trends and market demands. Here are some of the startups that are attracting greater interest today and the factors driving their appeal.

Tech-Driven Solutions.

Startups leveraging advanced technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT) are particularly attractive to investors. These technologies offer innovative solutions across various industries, including healthcare, finance, and logistics. Michael Shvartsman, an experienced investor, states, “Tech-driven startups are at the forefront of innovation. They have the potential to disrupt traditional industries and create new markets, which is highly appealing to investors.”

Sustainability and Green Tech.

With increasing awareness of environmental issues, startups focused on sustainability and green technology are gaining significant interest. These startups aim to address challenges such as climate change, renewable energy, and waste management. “Sustainability is no longer a niche market; it’s a global priority,” Michael Shvartsman explains. “Investors are keen to support startups that offer sustainable solutions and contribute to a greener future.”

Health and Wellness.

The health and wellness sector has seen a surge in interest, especially in light of the COVID-19 pandemic. Startups offering telehealth services, mental health solutions, and health tech innovations are attracting considerable investment. “The pandemic has accelerated the adoption of health and wellness technologies,” Michael Shvartsman notes. “Startups in this space are meeting critical needs and have vast growth potential.”

Fintech Innovations.

Financial technology (fintech) startups continue to draw substantial investor interest. Innovations in digital banking, payment solutions, and personal finance management are transforming the financial sector. “Fintech startups are revolutionizing the way we manage and interact with money,” says Michael Shvartsman. “Their ability to offer convenient, efficient, and secure financial solutions makes them highly attractive to investors.”

Remote Work and Collaboration Tools.

The shift to remote work has spurred interest in startups that provide tools for remote collaboration, productivity, and digital communication. These solutions support the changing work environment and improve efficiency for distributed teams. “Remote work is here to stay, and the demand for effective collaboration tools is growing,” Michael Shvartsman observes. “Startups addressing these needs are well-positioned for success.”

Today’s investors are particularly interested in startups that leverage technology, address sustainability, improve health and wellness, innovate in fintech, and support remote work. These sectors are poised for growth and offer significant opportunities for startups to attract investment and drive innovation.

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Astrotalk Bridging The Gap Between Astrology And Modern Wellness Platform Secures ₹110 Crore Funding For Global Expansion

Astrotalk’s Innovative Approach to Astrology

Astrotalk, an online astrological platform situated in Bengaluru, India, received a fundraising round of ₹110 crore (roughly $14 million). Elev8 Venture Partners’ investment of ₹55 crore ($7 million) represents a significant milestone for Astrotalk and highlights the expanding potential of online astrology services.

Elev8 Venture Partners Doubles Down on Astrotalk’s Potential

Elev8 Venture Partners, a well-known growth-stage investment firm known for making strategic investments in high-growth Indian entrepreneurs, has put its trust in Astrotalk for the second time. This recurrent investment demonstrates Elev8’s belief in Astrotalk’s potential to expand its operations and position itself as a global leader in online astrology.

A $200 million first-stage growth fund

Elev8 Venture Partners, a subsidiary of South Korea’s KB Investment, invests in a variety of areas, including B2B SaaS, business technology, consumer technology, fintech, and healthcare technology. Their investment in Astrotalk is part of a larger trend of venture capitalists recognizing the value of creative tech-enabled platforms that meet the growing demand for astrology services.

Capital Infusion to Fuel Growth and Expansion

In an official statement, Astrotalk revealed that the total funding round of ₹110 crore will be utilized to fuel strategic growth initiatives. The company plans to leverage this capital infusion to:

Expand service offerings: Astrotalk aims to diversify its service portfolio, potentially introducing new features and consultations that cater to a wider range of user needs.

Localization for broader reach: Recognizing the importance of regional accessibility, Astrotalk plans to make its services available in various regional languages and formats. This will allow them to tap into new markets and cater to diverse user preferences across India.

Global workforce expansion: To support its international ambitions, Astrotalk will focus on scaling its workforce. This talent acquisition will likely involve hiring individuals with expertise in various areas, such as technology, marketing, and international business development.

A Meeting Point for Astrology and Mental Wellness

Aside from the immediate cash boost, this fundraising round marks a significant shift in the internet astrology market. Platforms like Astrotalk are increasingly integrating conventional astrology with mental health support services. This innovative approach appeals to a growing audience seeking guidance and wellness solutions that combine traditional expertise with cutting-edge technology.

Aligning with a Global Trend

The increasing interest in astrology, particularly among younger demographics, is a global phenomenon. Busy lifestyles and a growing sense of uncertainty are driving individuals to seek out alternative sources of guidance and support. Online platforms like Astrotalk cater to this demand by providing convenient and accessible astrological consultations.

Mental Health Considerations

While the core service offering of platforms like Astrotalk revolves around traditional astrological practices, there’s a growing recognition of the potential link between astrology and mental well-being. Astrotalk acknowledges this connection and emphasizes the role its services can play in providing emotional support and guidance.

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