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1. Top 5 Trends in
Fintech sector to
watch for in
2022

2. As the pandemic hit the world it completely
ship to the online domain as there has shown
tremendous expansion in digital platforms in
the last years. 2021 remain an occupied year
for fintech, as it’s said by the edge of 2022 the
price fintech market is anticipated to arrive
around $309.98 billion, which is twice the
market price of 2018. The global fintech
subsidization has more than doubled to arrive
$131.5 billion, as it has expanded 168% from
2022. Due to the fleetly evolving users, it turns
out necessary to make banking services more
user-friendly.
Here are the leading trends to mind for in
2022:

3. AI And ML
With the support of Artificial Intelligence and
Machine Learning, the banking sector has
successfully designed products satisfy their
customer’s evolving needs. Even though AI
upsurge employee productivity by 59% in the
banking sector, ML had a major force as in the
leading sector it allows for higher accurate and
faster directorial done by research of
consumer data, usage trends and patterns.

4. Cloud Banking
If there is a cloud-based infrastructure then
the banking practice is far more convenient
and minor to errors, as it is the perfect
alternative for uninterrupted global payment,
P2P transfers and contactless payments. The
increased use of AI and ML has carried to
unprecedented benefits for those in the
fintech sector.

5. Block-Chain
As we know the phrase blockchain is
frequently used in source with
cryptocurrencies but here it applies for the
improvement of workflow effective in the
banking industry. This year it is said that
blockchain will shake the packaging sector
with the highest intensity. This technology
essentially focuses on providing a highly
secure transaction on both sides as it serves to
prevent fraud and easy compliance with audits
and regulatory necessity. Additionally,
transactions, payments and deposits are fast
and flawless.

6. Digital/ Neo
Banking
Neo-banking in India has advanced as 100%
digitalization of banks is not presently
permissible due to the RBI rules that fintech
companies have functioned as Neo Banks
stationed on the traditional banking services.
For example, YONO by SBI, Kotak 118,
RazorpayX and NiYO. Between the years 2016-
2020 world Neo Banking has recorded a CAGR
of 50.6%. With the increased use of
smartphones that assist consumers to route a
wide range of personal financial services and
reports within seconds the phenomenal
outlook for Neo-banking will evolve.

7. E-commerce
As the pandemic give a hike to online
shopping market in the last two years there
come a huge demand for hassle-free digital
payment preference. This has benefited the
fintech firms as to grab the customers and not
to leave their site a greater number of the e-
commerce business holders have partnered to
set up custom gateways and portals. There
has also been a surge in the global cross-
border payment progress. With the help of
fintech, easy transaction steps even
internationally overture enormous growth
potential for even small businesses.

8. Conclusion
Today the financial industry is directed by
fintech as fintech can lead the world a step
closer with reachable financial services. These
digital components will be the hub on the
growth for the entire fintech sector, as the
banking industry is one of the essential
industries and it will continuously develop.