Fintech industry trends in 2020

Fintech industry trends in 2020

The fintech market has responded well to the EU PSD2, but the management of financial mechanisms and regulatory compliance still poses a challenge. Financial companies already spend between 15% and 20% of their annual budget on risk and compliance management. What will change in 2020? Marcin Sikora, LOANDO Group CSO, commented on the trends on the financial technology market in a piece for



The forecasts show that coming year will be marked by cryptocurrencies and their conversion to cash. Fintechs are supposed to get support from the quickly developing blockchain system and artificial intelligence.

Marcin Sikora, LOANDO Group Chief Sales Officer, commented: Currently, you can convert cryptocurrencies to cash on platforms such as kraken or coinbase. You can also simply buy and sell them in a bitcoinomat. I am sure that according to the idea that demand creates supply, the current popularity of cryptocurrencies will lead to the emergence of a broad range of conversion technologies.

As expected, there will be even more automation in the coming year. Automation is visible in every area of life and it has an even greater impact on the fintech companies. It is for example used in the case of filling loan applications.

We expect that in 2020 automation tools will become even more popular among businesses and their use will go beyond loan applications, added Marcin Sikora.
Read more here