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The Top 6 FINTECH TRENDS for 2017

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What does FinTech really mean for 2017?

We've outlined 6 of the hottest trends to look out for in the coming year,

Publicado en: Economía y finanzas
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The Top 6 FINTECH TRENDS for 2017

  1. 1. THE TOP 6 FINTECH TRENDS FOR 2017 Copyright © 2017 TCI Pathway
  2. 2. You’ve probably heard phrases like ‘the fintech revolution’ or ‘the big bank disruption’… and it’s no surprise. We’ve outlined 6 of the hottest fintech trends, to look out for in 2017. Copyright © 2017 TCI Pathway
  3. 3. The Global Value of Fintech It’s worth looking at a few statistics, before we begin: In 2013, the global value of fintech was estimated by ‘Statistics’ at approximately £3 billion. By 2014, fintech firms had already attraction £12 billion of investment. And by 2015, that figure had risen to over £20 billion, globally. As we move on into 2017, fintech disruption continues to grow. Copyright © 2017 TCI Pathway
  4. 4. Trending in Fintech: 1.AI (Artificial Intelligence) It is believed that fintech companies will harness the technology of evolving AI capabilities, to make better decisions and improved solutions. They’ll make use of predictive analysis to break down big data and analyse large volumes of consumer information. This will ultimately create an enhanced ‘user experience’, with more assisted customer interactions and ‘robo-advisors’ (financial advisors with minimal human intervention). Copyright © 2017 TCI Pathway
  5. 5. Trending in Fintech: 2.MOBILE TRANSACTIONS The ability to transfer funds using just a mobile phone number is growing in popularity in the UK. National Peer to Peer service ‘Paym’ reports an almost doubling in transaction volumes over recent months. More than £146m has been sent using Paym, since its launch in April 2014, and these numbers are likely to grow. It seems that consumers appreciate the speed and convenience (as opposed to using ‘old-fashioned’ cash). An upwardly mobile world combined with improved technology will create ‘more opportunity for disruptive models to find success’, which can only be good news for FinTech. Copyright © 2017 TCI Pathway
  6. 6. Trending in Fintech: 3. NO MORE WALLETS Contactless card transactions are expected to double worldwide by 2021, and fintech companies and apps will make purchasing easier- More stores will allow payments directly from a mobile phone. There will be less need for cash and separate cards. We’re well on our way to a future where people will be leaving their wallets at home, and replacing them with smartphones in their back pockets. Copyright © 2017 TCI Pathway
  7. 7. Trending in Fintech: 4. BIOMETRIC SECURITY Great news for the people who are always forgetting their passwords! As mobile and contactless transactions increase, there will also be a need for improved security measures to prevent fraud. Transactions may involve multi- step security, such as fingerprint recognition, face recognition or iris scans. Copyright © 2017 TCI Pathway
  8. 8. Trending in Fintech: 5. RISE OF CLOUD TECHNOLOGY Already, a staggering 93% of businesses now use some form of cloud technology- the benefits have become obvious to all of us. Many of the ‘industry giants’ continue to take their time migrating to cloud software delivery, meaning they will be less able to meet the demands of their customers who have already fully migrated. This will provide greater opportunities for fintech innovators to tap into the mega-vendors’ market share. Copyright © 2017 TCI Pathway
  9. 9. Trending in Fintech: 6. WARP SPEED 2017 is set to be another disruptive year for the fintech industry, with ‘easier ways to pay’ being at the top of the list. Traditional data centres, hard-wired connections, and wallets will be left behind- for a faster, more innovative way of doing things. Companies and consumers: Welcome to the future. Copyright © 2017 TCI Pathway
  10. 10. Everything starts with a conversation, so let’s talk: Safaraz Ali Linkedin: Twitter Handle: @SafarazAli Tel: 0121 707 0550 Copyright © 2017 TCI Pathway