Top Fintech Trends Entrepreneurs Must Watch in 2020
Whether it’s online trading or crypto conversions, the future of finance is fluid.
4 min read
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Financial technology (fintech), for all of its faults, helps us get more things done more efficiently. Artificial Intelligence (AI) takes it even further, allowing us to conduct business and have conversations when there isn’t even another human involved. We can have online chats with bots, for example, to accomplish or learn myriad things. Innovation is always on the horizon, though, especially in the fintech realm.
As more fintech options become commonplace, every industry must either adapt or be phased out. With the turn of the new year, 2020 promises big changes in how we manage, spend and access our money, so you’ll want to keep an eye on some of these emerging trends as you make financial decisions regarding partnerships and investments.
Minimizing Traditional Institutions
Several types of financial business elements that have been handled manually or by standard institutions, like payroll, insurance and securities, are becoming automated. We’re seeing online-only banking that eliminates the cost of brick-and-mortar buildings, and the best of them will be sharing the benefits with their customers in the form of higher returns and lower fees.
Companies adapting quickly to fintech and automation should also work to uphold compliance and maintain good standing with the governing agencies. As regulation and risk-management for fraud, money-laundering and identity theft are becoming big business, regulation technology (regtech) companies are utilizing AI to combat these crimes faster and more efficiently than humans can. The growth of fintech is causing a wave of startups and the opportunity for investment in the regtech realm.
Stepping Up Online Trading
Black box trading i