Top disruptions in fintech to watch out for in 2022

Top disruptions in fintech to watch out for in 2022

Fintech involves the efficient use of technology to simplify financial processes in a company and to build efficiency and automation in transactions, payments processing, etc.

However, fintech has further evolved to disrupt our ways of life. It has provided the much-needed convenience with respect to transaction, payments, savings, investments, and insurance.

Digital only banks powered by mobile banking.

Taking banking to the last mile has been a challenge that many developing nations have been trying to address. With the advent of the smartphone and digital transactions, banking needn’t be necessarily done through a branch. Windowless banking is increasingly seeing adoption. Even processes as complicated as a KYC can now be done digitally through video and so can activities such as account opening, transactions, fund transfers, utility bill payments, etc.

Blockchain to reduce cost per transaction and enhance convenience.

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