The thriving financial sector undergoes a radical transformation. In the wake of cryptocurrency and digital payment solutions, fintech startups have started leveraging advancements of technologies to offer services in the niche segments of asset management, insurance, lending, and even open banking.
Diversification and complexity of Fintech startups require functional and non-functional characteristics to understand their offerings thoroughly. Recently, Cambridge Center for Alternative Finance has given a taxonomy of financial services based on eleven different perspectives. Let’s understand the top trends of the fintech sector for the year 2021.
Top Fintech Sector Trends Set to Dominate in 2021 and Beyond
• Market Provisioning
This is a broad and significant aspect that involves enterprise-grade digital solutions and emerging technologies. This trend is segregated into five categories-
1. Enterprise Technology
It comprises API management and enterprise blockchain with a combination of emerging technologies like AI and ML. Fintech mobile app development solution based on enterprise technology is useful for digital accounting, electronic invoicing, and gets useful insights for management and business intelligence. The solution works by using the power of cloud computing. Enterprise technology is one of the most popular and prevalent subdomains for the market provisioning domain.
Original Source: Top Taxonomical Aspects for Fintech Industry to Watch in 2021
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