Fintech trends: AI, smart contracts, neobanks, insuretech, regtech, open banking and blockchain

LVIV, Ukraine - Oct. 7, 2020 - PRLog -- Disruptive technologies are changing the face of the world. The new reality requires non-standard solutions.

"Fintech" describes the new technology integrated into various spheres to improve and automate all aspects of financial services provided to individuals and companies. Initially, this word was used for the tech behind the back-end systems of big banks and other organizations. And now it covers a wide specter of finance-related innovations in multiple industries, from education to crypto-currencies and investment management. While Blockchain has been on everyone's lips recently, other fintech trends, such as neobanks, are only taking off.

Even knowing the current trends, it is hard to predict where the fintech industry will be in 10 years' time. Without a doubt, its further development will boost many other spheres, like eCommerce, and create numerous opportunities for all market players. Traditional banking is declining, one of the reasons being the Covid-19 epidemic, which boosts the demand for financial apps with a contactless, transparent, and seamless experience. Software that will help users master various aspects of finance effortlessly, engage new audiences, ruin borders, and create additional value for all stakeholders is what the market needs now.

What further development of financial technology promises to end-users and how it overturns traditional banking services and business models - take a look in this really amazing article -
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