I just found an interesting blog by Plaid:
10 fintech trends for 2024 that define the industry’s future
What are the 10 fintech trends?
Trend #1: Consumers will use more fintech apps than ever
Trend #2: Fintech increasingly provides financial stability during uncertain times
Trend #3: Emerging payment technologies will become as normalized as the credit card
Trend #4: Credit score alternatives will revolutionize consumer credit
Trend #5: Bank payment usage will continue to grow.
Trend #6: Embedded finance revenues expected to triple by 2029
Trend #7: Financial identity fraud attempts will grow, but identity verification solutions are stepping up to fight it
Trend #8: Loan volumes begin to trickle back up
Trend #9: AI will revolutionize the way consumers manage money
Trend #10: Consumers lean into traditional investing as crypto interest cools
There’s obviously much more detail on their blog page, but it’s more than just a blog, it’s a whole in-depth 50 page report that you can download. What’s in the report? Well, here’s a few key results:
- 70% of consumers prefer A2A payments than debit or credit cards
- 63% of consumers say that credit scores are not good enough
- 66% of consumers want fintechs to teach them more about how to manage money
- 91% of consumers have key financial goals
- Four out of five consumers are happy to open accounts with fintechs
- The average consumer has three or more fintech apps
The report is based on a late 2023 survey of over 2,000 Americans.
(Source: SkinnerBlog)
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