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Opinions expressed by Entrepreneur contributors are their own. The pandemic has transformed the way people live and businesses operate. While many industries had to adjust their processes to adapt to a new normal, some thrived thanks to their digital model. A great example of one that thrived is financial technology, or fintech, which uses technology to deliver banking and financial services. Fintech was a growth space prior to the pandemic, with growth in take-up of services from the sector jumping from 16% in 2015, to 64% in 2019. While fintech players were not immune to the impact of Covid-19, they were generally able to recover more quickly due to their agile model and their increased use of digital channels. Key factors driving growth in fintech Given the trend toward digitalization, let's accept that fintech is here to stay. With this in mind, let's talk more about the rise of this space and some of the exciting opportunities that lie ahead in this sector. 1...

By Henrik Grim, MD of Europe for Capchase, discusses why fintech startups might want to think twice before reducing their headcount in this period of economic uncertainty If you’ve been paying any attention to tech commentators recently, it will have been difficult to miss the coverage on the number of startups making layoffs or introducing hiring freezes at the moment. After explosive growth and the sky-high valuations of recent times, the current trend is a less positive one, and it is widely recognised that the fintech bubble of the past few years is beginning to burst. While money is still available, the market is becoming more risk-averse, with funding less easy to access and rounds less frequent. This means that founders are looking at how to control costs and manage their capital effectively to extend their runway for as long as possible. Many of these startups are looking to reduce their headcount, often following a period of rapid expansion as businesses benefited from ...

The fintech industry has seen major changes since the pandemic, both accelerating digital adoption and the need to satisfy new customer expectations. But implementing the appropriate fintech marketing techniques to align to this new world is becoming more and more challenging in a market that is already saturated.  That’s why leading fintechs are now rebooting their strategy at multiple levels, including the way they had previously approached business and consumer engagement. One major shift is in how B2B decision makers like to buy products and services. Today, nobody wants to feel “sold to”.  This is a very different market where people like to do their own research, and educate themselves and self-serve their needs, often without ever contacting a salesperson. 🔍In fact: B2B buyers have done up to 70% of their research before they even speak to sales. 40% of buyers named “having to contact sales for a demo or free trial” a major turn off and making them le...

We are moving towards a time of Metaverse where everything is virtual, so the payments and finance world also has a great scope of digitalization. The biggest companies are investing money in financial technology, and in this situation, building a Fintech app could be the best investment for you too. Building a Fintech app isn’t that difficult, but you just need to be clear about the basic concepts, which is why we will tell you all the things you need to know about building a Fintech app. So, let’s get into it. Is a Fintech App Worth Investing in? Making a Fintech app could be a lifetime investment for you, mainly because this industry is flourishing like never before. The growth rate of Fintech apps is more than 24.8 percent, and this industry is about to reach 310 billion dollars this year. Everyone is moving towards digitalization, and people prefer mobile transfers over cash payments because they are hassle-free and highly convenient. According to a survey, approximat...

The fintech market size stood at USD 112.5 Billion in 2021 (GlobeNewswire).  The pace of change and innovative mindset in fintech has picked up in the recent years and the industry continues growing exponentially. The Global Fintech Market size is expected to reach USD 332.5 Billion by 2028 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.8% during this period. In this article, I explore how the industry has changed and what trends are shaping the future of the financial service industry. Trend No 1: New stage of maturity in the fintech market The explosion of new fintech businesses is slowing down and the market has started focusing on more mature businesses with a clear path towards profitability and strong USPs. Also, regulators have become stricter – there are new requirements that increase entry barriers for new companies that are not ready to become authorized institutions due to insufficient funds, experience, and team, etc. This explains th...