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Fintech highlights in 2018 and what to expect next


Once FinTech has become an emerging trend in the financial industry, things have changed completely in this department, various revolutionary financial mechanisms and solutions appearing on the regular. The advancement of this trend, which is continuing to grow and expand at incredible speed, has produced enthusiasm and triggered interest among regular financial service users, as well as entrepreneurs and CEOs. The new technologies available can update the way consumers are carrying out various transactions, and might also enable those working in the industry to achieve higher gains than traditional financial solutions were able to offer them.

While there have been numerous changes implemented, and new technologies are still being presented regularity, there have been a few FinTech highlights that are in the spotlight in 2018, and might drive the industry further into the future if development will still be continued.

Cryptocurrency variety and diversification

With Bitcoin becoming so popular, the topic of cryptocurrencies, in general, has generated numerous interests over the last year, and it seems like things will only develop in this department with the years to come. Initial coin offerings – ICOs – are the methods through which people are given the chance to introduce their own cryptocurrency into the financial market, and many seem to be the ones to have innovative ideas in this department and to bring these ideas to life. More cryptocurrencies offers are available in 2018, giving thus an appealing variety to professionals of the financial market as well as consumers. Although the cryptocurrency market still has a long way to go, and much work to do, things are far more advanced than they used to be twelve months ago. However, the downside of this expanding trend is the appearance of fraudulent merchants who are targeting naive investors, that’s why consumers are recommended to do their research before embracing a particular cryptocurrency investment. Not few are the specialists who claim traditional payments and currencies will be completely replaced with the crypto alternative in the years to come, and if things go as rapidly as they have until now, this is highly likely to happen. Bitcoin has just been the start of an incredibly powerful financial movement of the modern world.

Financial firms embracing new technologies

While not that long ago, startups were the ones to bring new tech innovation to consumers, by adopting more advanced financial products, it seems like in 2018, the larger financial firms are the ones to revolutionize their in-house services and finally adopt the FinTech trends, enabling consumers to have access to more convenient financial solutions. This means startups have been left behind, facing an increasing level of competition. Startups have been known to function in a way that goes hands in hands with the latest tech movements, but since the bigger players of the finical industry have directed their attention towards these innovations as well, consumers are presented with far more versatile opportunities. While startups still have their own role, the growing competition could be a positive aspect, contributing to the further expansion and fostering of innovations. The industry overall will of course benefit, although tech developers might have a bit more work to do.

Alternative banking and payments

Banking services and payments are far from what they used to be back in the day. In 2018, the number of digital-only banks has increased significantly, and consumers have the opportunity to cover all their financial needs without actually visiting the premises of a physical baking institution. Alternative options are becoming far more appealing, and it’s understandable considering the increased convenience they come with. Companies and individuals are now able to customize their payment solutions in order to fit their situation best. Numerous platforms that target the offering of innovative banking and payment products are now available for access with a simple search on Google. These futuristic solutions in terms of finances seem to be one of FinTech space’s most discussed subjects. Platforms of this kind have given new meaning to the term online banking, and new opportunities are being created that benefit investors, entrepreneurs, large companies and regular consumers. The experts at Contis clearly state how alternative means of payment and banking solutions are changing the financial industry altogether. Those that keep up with the latest tech trends and value convenience a well as payment rapidity and reliability have already switched to this alternative, leaving traditional banks and their services behind.


Near field communication has already had a role in diversifying how people are making payments, and in 2018 things seem to improve even further through NFC. Contactless cards and smartphone payments have become the first choice of day to day consumers, who prefer to simplify their means of payment in the best way possible. Wearable payment devices have had a powerful impact on the market, drawing in a wide range of customers. It’s being said that later on, tech implants might also become a trend, which means a payment can be made with a simple hand wave.

More lending opportunities

It seems like lenders are encouraged to take into consideration the application of more borrowers in 2018, and establish loan eligibility through more than just a judge of the consumer’s FICO. Through innovations, it has become easier for lenders to figure out if a said applicant should be granted with the requested amount or if the borrower would not be able to keep up with payments. This has contributed to the financial benefit of the lenders as well as the satisfaction of interested buyers that perhaps don’t have a perfect credit score.

FinTech has truly revolutionized how people see financial services, making things far more convenient, and advantageous from different perspectives for both regular consumers and businesses. In 2018 new innovations have emerged being linked to the on-going development of FinTech, and it seems like the future only awaits with even more impressive improvements. The financial service journey is being revitalized at a fast pace, and one should be ready to embrace even more appealing technologies that are prone to appear in the following years.

Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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