7 Fintech Trends for 2021

According to experts, there are fintech trends that will simply impact everything that involves money from payments to banking. Blockchain is set to take big time pushing the capabilities of digital wallets. At Infiniticube, we serve fintech startups and digital only banks to global payment solutions as a financial app development company. The best approach is to meet the following fintech trends head on.

1. Digital-Only Banking: A digital-only bank provides banking facilities exclusively through digital platforms, such as mobile, tablets and the internet.

2. Biometric Security Systems: Biometrics scanners are hardware used to capture the biometric for verification of identity. These scans match against the saved database to approve or deny access to the system.

3. Blockchain Technology: Blockchain technology is a structure that store transactional records, also known as the block of the public in several databases known as the “chain”, in a network connected through peer-to-peer nodes.

4. Artificial Intelligence: Artificial Intelligence refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. It is also applied to any machine that exhibits traits associated with a human mind such as learning and problem-solving.

5. Neobanking: Neo banking is the new face of banking where neobanks are digital-only banks that operate without a physical branch network.

6. Open Banking: Open banking also known as “open bank data” that provides third party financial service providers open access to consumer banking, transaction and other financial data from banks and non-bank financial institutions through APIs.

7. Payment Innovations: Fintech is changing the way consumers store and spend their money, shaping the future of e-commerce. It makes spending effortlessly while allowing security, convenience and efficiency.