Seven Technologies Shaping The Future Of Fintech

Future Of Fintech

There is advancement in technology and its implementation in every sector, which includes finance and the fintech industry. There has already been a surge in the involvement of innovative technology in the financial market. In this article, we have jotted down seven technologies expected to shape the future of fintech.

Artificial intelligence

According to a study conducted by McKinsey, Artificial Intelligence will generate approximately $1 trillion in the global financial market. As a result, the financial sectors and banks are preparing to shift completely to AI-driven methods, preventing enrichment in their territory and aiding in expanding their technological firms.

Artificial Intelligence

Machine-based identification and automatic factor discovery are the two most crucial factors expected to drive financial models across the sector. In addition, the key application of AI semantic representation for graph computing is also expected to play a greater role in the industry. Furthermore, Analytics and federated learning methods will be employed to prevent the risk of privacy breaches, along with advanced encryption, zero-knowledge proof, and multi-party computing analysis tools.


Blockchain can be implemented in Distributed Ledger Technology (DLT), which helps share and record data across different stores. As a result, safer transactions can be expected through various participants at once. People in the industry are working towards implementing blockchain in DTL models to transfer cryptographic data to record and synchronize all the data in an immutable manner.

Also, traditional investors and other financial stakeholders and implementing newer strategies to include digital assets to increase the implementation of DTL and Blockchain in the established markets.

Cloud computing

There are three types of cloud computing –public, hybrid, and private cloud. All these cloud computing services can be used in the fintech industry to reduce technical risks in the industry for different development and operations. The three cloud computing trends shaping the fintech industry are:

  • Edge cloud and edge computing
  • Cloud container
  • Al-cloud generation

All three can be used in banking and banking as-a-services which helps enhance the relationship between services and customers.


The ramification of IoT over the last few years has finally opened its doors for the financial sector, composed of three layers – Perception and smart sensor systems, wireless communication, and operational support. As a result, insurers and stakeholders can use IoT services to determine risk factors in the financial market and develop solutions to mitigate these risks.


SaaS is an open-source platform that provides open-source platforms for financial innovations in the digital economy. It is also considered a must-have for all the growing fintech businesses. It allows for serverless architecture implementation and allows companies to have their own servers to execute software code and store important data.


No code and low code

When applied in any business, this technology allows its users to minimize traditional coding and develop innovations with graphical user interfaces. It also provides a combination for sure and develops fast visual tools to customize the workflow in the fintech business.

Hyper Automation

It refers to implementing the mechanics of robotic, AI, deep learning, and event-driven software in the fintech market to deal with complex business scenarios. It also helps streamline the financial service provisions.


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