Here we are, already half way through 2017 and the Fintech train is steaming along rather nicely. “But Adastra”, I hear you ask, “with so many cool new financial technology innovations emerging all the time, what should I be looking out for?”.

Don’t worry fellow Fintech enthusiasts, we are here to help. We have been keeping our ears close to the ground! Here are the 3 biggest trends coming your way in Fintech this quarter.

1. AI

Artificial Intelligence sounds like something from the distant future, but in reality, it has been assisting with financial services for quite some time. It is only now, however, that the potential of AI is being realised in the payment sphere. From Bots, through to ground-breaking visual recognition technologies to prevent fraud, as the technology has advanced so too has its uses. Several major AI events are coming up later this year. Q3 is set to see a flurry of activity with announcements a plenty from some of the major players in AI payment technology.

2. Regtech/Paytech/ Insuretech

If you can name it, you can be sure there is a tech solution for it. Services like Regtech and Insurtech began life as Fintech off shoots, but are now growing rapidly into industries in their own right. Funding for Insurtech companies alone peaked well above $1billion in Q2. With this wave of investment comes truly game changing solutions so be sure to keep your eyes and ears open over the coming months. There are sure to be many new innovations to get excited about.

3. Openness

For years, banking has been a closed space, but as PSD2 leads a new charge towards openness in Europe, banks are beginning to realise the importance of transparency and collaboration. A new wave of Fintech companies has emerged, with solutions designed not to disrupt, but to work alongside traditional financial services. To start enhancing customer experience from payments to banking collaboratively.

So, that’s all for today folks. Make sure to check back for more insight into the world of all things Fintech and payments. If you just can’t get enough why not go and give us a follow on social media, you know you want to!

Speak soon,

Adastra.