Times of great change require quick responses and strategy. Digitization sets the pace and promotes alliances that improve the products and services of financial institutions. The post-COVID scene is a great challenge to creativity. Now is the time to build the best infrastructure to materialize the possibilities.
Attract and retain: Fintech companies were looking to win over new customers. The need, now, is to increase its profitability through services that have an impact on greater transactions and more screen time through loyalty or cashback programs and even a marketplace of products and services.
Open Finance: It is a step further because it allows greater freedom of financial management experiences that puts control in the hands of clients but supports them with security and transparency.
Buy Now Pay Later: a short-term financing, which generally does not charge interest if the customer meets their payments in a timely manner. It is another trend in favor of financial inclusion, and the possibility of more connected customers buying also benefits businesses.
Blockchain: A digital transaction documentation system that quickly evolved to spread to other applications and industries. Blockchain and cryptocurrencies have the power to revolutionize the financial industry, as long as they protect the consumer and respect the regulatory frameworks that accompany these changes.
5G: It’s what connects virtually everyone to everyone and everything. More reliable and 100 times faster than current technology, this new interface will impact every industry and is expected to contribute $13.2 trillion to the global economy by 2035.