How do we value fintech in 2021

what will the next 12 months mean for the Fintech industry? 

What a year 2020 has been. The year 2020 was tough for many – from small businesses, to big high street retailers. We can’t however ignore the fact that the Covid pandemic certainly forced companies to adapt and learn to be agile quite quickly.  The study, shows 1,385 FinTech industries in 169 jurisdictions from mid-June to mid-August, showed  strong growth for the first half of 2020 compared to the same period in 2019, which was prior to the pandemic. The global fintech industry has continued to grow in 2020 despite the Covid-19 pandemic. However with the continued rollout of Open Banking regulations, the UK’s imminent exit from the EU and ever-growing customer demand for innovative financial products, How do we value fintech in 2021?

Tech Turns Finance

The world of digital payments has been changing ever since Apple Pay arrived on the scene in 2014, followed by Google (Android) Pay in 2015. In 2021, we should keep an eye out for big announcements from traditional tech companies as there is an increased drive for digital-first finance for the mobile-first generation. 

Digital-Only Banking

According to one survey in US and UK, 14.2 million U.S. citizens consider a digital bank as their primary money management system and in U.K., 23% of the population (12 million people). As Covid-19 crisis, left many in a state of economic instability, digital banking services are gaining popularity due to their accessibility and ease of use. Will the pandemic permanently boost digital finance?

Putting it all together

Experts predict 2021 brings a bright future for fintech, despite all the challenges. It is a fact that the financial market is changing. Security is still the major risk area for financial companies, so the development of security strategies is firmly entrenched in the ranks of the 2021 trends. Anyhow, the current trends show that the fintech industry continues to develop and we should expect new breakthroughs in the near future.

More information about Fintech trends can be found on Fintechjobs.io.Fintechjobs.io is a dedicated FinTech Jobs board specialising in the FinTech Industry. Check out our Home Page for all the latest FinTech Jobs Vacancies.

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