Perspective on the fintech market

FinTech (financial technology) provides financial services using innovative technologies such as big data, cloud technology, artificial intelligence, robotics, blockchain, biometrics, and others. 

According to a KPMG analysis published in February of this year, investment in FinTech reached $210 billion in 2021, $90 billion more than in 2020. About 5,700 deals were completed in the fintech market last year, the largest of which was the $14.8 billion purchase of Refinitiv by the London Stock Exchange. If you are more interested in gambling than Indian casino online, you will love it.

Investment in payments rose to $51.7 billion in 2021 from $29.1 billion in 2020. In addition, investment in blockchain and cryptocurrency was $30.2 billion in 2021, up from $5.5 billion in 2020.

Fintech: the current situation

Several major fintech platforms are competing in the market right now. They are actively expanding the number of tools and finding new ways to interact with users. As a result, other players are forced to invest seriously in developing their technologies to be competitive. It makes fintech projects extremely attractive for IT specialists and developers interested in professional growth and competitive salaries simultaneously. 

Increased use of financial technology by consumers and businesses is only a tiny part of the digital transformation in finance. Banks continue to evolve into ecosystems and regulated SaaS companies. Moreover, the active growth of fintech impacts new jobs and the growing tension in the IT job market. 

Fintech uses the latest technologies and employs experienced specialists, and the price of a bug is very high. Many new projects are being developed here, which attracts candidates: you can improve your skills by taking part in the creation of new products and services. And some of the changes occur inside systems, and they remain invisible to ordinary users, although they affect the quality of work. 

Main trends in financial technology in 2022

In the forecast of further growth of investments in FinTech, KPMG analysts note the expected activity in the field of M&A transactions (mergers and acquisitions), the development of interest in fintech-oriented ESG solutions (environmental, social, corporate governance) to solutions that can meet the need to modernize essential banking platforms and services, to fintech companies for data processing. In addition, developments for cryptocurrency and blockchain are also expected to remain attractive for investment in 2022.

FinTech includes more than 20 areas today, and every year the financial technology application market expands to encompass new industries. 

Financial technology solutions are actively integrated into:

  • Any systems that function with artificial intelligence and machine learning technologies and are next-generation platforms with Robo-advisors, financial management software, and digital brokers; 
  • biometric security systems; 
  • virtual banking;
  • production of robotic voice assistants 
  • development of intelligent contacts; 
  • virtual and augmented reality industry.
  • contactless and instant payments 

Pandemic restrictions have become a driver of online banking development. In addition, the relevance of contactless payment systems has positively influenced the development of companies engaged in developing high-tech solutions for banks. 

The most prominent market players supported two trends at once – the improvement of instant payments and the popularization of contactless transfers using voice commands.

In 2022 the fintech market of bank products will be aimed at simplifying and increasing the automation of money transfers. 

Business automation and artificial intelligence 

Artificial intelligence is widely used in delivering solutions for investors and traders – almost all modern tools (algorithms, robots for forming strategies, trading systems, digital brokers) used in the stock market are created based on AI. 

More and more fintech startups are focused not only on the b2b segment but also on the b2c segment, which is facilitated by the growing financial literacy of the target audience and the increasing number of private investors. 

Mass digitization of financial transactions stimulates the active growth of companies developing virtual banking (non-banking) and remote accounting services.  

The use of blockchain technology

The use of blockchain technology aims to create a financial ecosystem that can evolve regardless of changes in the political environment. 

Blockchain is a decentralized database with no specific owner and stores information about all the actions of system participants. It gives users complete control over their assets by making transfers through decentralized applications (dapps). 

A decentralized payment system has several advantages:

  • transparency;
  • high speed of payments processing; 
  • automation of business processes through the implementation of smart contracts; 
  • minimization of errors due to storing data on each transaction; 
  • cost reduction by eliminating the need to engage intermediary companies. 

Big Data Analytics

Business efficiency depends on data processing quality – the more profound the analytics, the faster a company can get the information it needs to make a specific decision. 

At the moment, fintech solutions for big data analytics aim to:

  • Enhancing analytical capabilities; 
  • maintaining a high level of cybersecurity through automatic monitoring of suspicious activity;
  • expanding functionality in the area of business customer segmentation; 
  • analyzing and improving customer experience;
  • development of systems specializing in risk assessment.

KYC and AML systems, BNPL services 

The direction related to developing KYC, AML, and BNPL systems is another fintech trend in 2022. 

KYC and AML services are aimed at increasing transaction security. KYC (“know your customer”), designed to verify the data of individuals, is especially relevant in the areas of credit and foreign exchange trading. 

AML (“anti-money laundering”) is a popular fintech tool designed to combat money laundering and the financing of banned organizations. 

The drivers for the mass integration of KYC and AML into the payment system are the growth of the digital asset industry and the trend of cryptocurrency systems moving from complete anonymity to the use of personal data in need of the proper level of protection. 

The growing relevance of BNPL services (“buy now, pay later”), which allow trading platforms to sell goods in installments without interest and credit processing, was the active development of the segment of digital trade. 

Integration of BNPL into the financial system allows online retailers to:

  • get rid of intermediaries in the form of banking institutions; 
  • to increase the level of customer loyalty; 
  • increase sales.

Yahoo! finance, citing experts from Bank of America, reports that the market BNPL, currently positioned as an alternative to traditional lending, will develop towards online payments and, by 2025, will grow by 10-15 times. 

Note that live roulette online has also become much more popular than before.

Voice technologies and services

Companies developing assistants express their intent to significantly expand the functionality of such services to improve the interaction between businesses and their customers. 


The financial market will evolve, giving startups a considerable space to develop technological and economical solutions. Every year FinTech attracts more and more attention from investors – shortly, the sector financing volume will increase along with the expansion of the market for fintech solutions.