The fintech revolution has gotten plenty of buzz from entrepreneurs and CEOs to average the person on the street. The reason? It’s rapidly growing area that is embracing breakthrough technologies to disrupt the way we carry out transactions. Fintech processes are bringing a lot of positive changes to many industries and applications.

Fintech is also helping some people make a ton of cash.

Whether you’re an entrepreneur looking for a business opportunity or simply a customers, fintech is going to make life much easier. For instance, it will open-up new ways to obtain lending. Fintech processes will also help manage your business so you’re more productive and reduce costs for financial services.

Simply put. Fintech processes are changing the world.

The problem, however, is the rapid release of new technologies means you may not be up-to-speed with the latest trends. Here are fintech processes and platforms that are changing how we do business.

Blockchain technology is finding its way.

Blockchain technology has been around for a decade, garnering a lot attention. However, it’s often only associated with bitcoin and cryptocurrencies. Now, the blockchain has finally broken free from the bitcoin hype. Here are seven predictions from David Wither from Influencive:

More people will start to understand blockchain technology.

Companies like UBIQUICOIN and HybridBlock, are encouraging mass cryptocurrency participation across the world. With more people using the technology, the more likely it will go mainstream.

Tech giants are on-board.

Amazon, Facebook, and Google are using and investing in the blockchain.

Companies are utilizing blockchain technology.

Companies are using the technology in a variety of ways. For example, FarmaTrust is trying to eliminate counterfeit pharmaceutical drugs,while providing value-added services to governments and pharmaceutical companies. Puregold is using tokens supported by gold, which makes it a unique ICO.

Crypto works for everyday payments. 

More and more companies are starting to accept crypto as an everyday payments thanks to companies like Sparkle Coin.

There will be a surge in smart contract applications. 

With smart contracts there’s no need for intermediaries. This eliminates fees and speeds-up transactions securely for gaming, insurance policies, housing rentals/sales, music industry, medical records, investment funds, and advertising.

Blockchain will reshape the developing world.

Acorn Collective is a blockchain-built crowdfunding platform. It’s bringing crowdfunding to the developing world without any fees.

Blockchain will disrupt old-school industries.

ODEM, for example, is changing traditional education works. As Wither explains, “ODEM will connect educators with students to facilitate private learning that is cost efficient and of higher quality than current systems.”

Initial coin offerings (ICOs) are changing the funding game.

I briefly mentioned ICOs above. But, they deserve their own listing because they’re changing how startups can receive funding.

I’ll let Brady Dale from CoinDesk explain.

“It works like this: companies issue a certain number of crypto tokens (keeping a percentage for themselves) to be used on a platform now or in the future. If users see value in the platform, they’ll purchase the tokens needed to interact with that platform.”

This means the coin “offering” can cover expenses like payroll. It also allows fintech companies to bypass regulatory hurdles. Then, they can fast-track the process of raising funds.

AI implementation will be across the board.

Make no mistake about, AI is making its presence known in financial services like customer interactions, fraud detection, trading, and risk management. AI is even being used to automate back-office tasks (robotic process automation).

Considering that a majority of US households will voice-enabled smart speakers by 2022, there’s a possibility that Amazon’s Echo, Google’s Home, Baidu’s Xiaoyu, and Alibaba’s Genie could become your next financial advisor. Each of these are tapping into the power of AI automation.


Robo-advisors can create more personalized customer experiences. For example, customers could limit credit card usage to only charges that are for essential purchases. They could also receive investing, financing, and insurance advice based on their specific demographics and needs.

To further prove that AI isn’t just a fad, BI Intelligence is forecasting that robo-advisors only will be managing approximately $1 trillion by 2020 and $4.6 trillion by 2022.

Additionally, business owners will be able to better connect with their customers because they’ll be able to automate everything from emails to content creation.

Open banking APIs.

Open banking, as defined by McKinsey & Company, “a collaborative model in which banking data is shared through APIs between two or more unaffiliated parties to deliver enhanced capabilities to the marketplace.”

APIs aren’t exactly a new concept. They’ve been around for around a decade. As McKinsey & Company further explains, the “benefits of open banking are substantial: improved customer experience, new revenue streams, and a sustainable service model for traditionally underserved markets.”

By opening their APIs startups and financial services firms, traditional banks and financial institutions can launch new services.This could be as simple as launching an online bank so that they no longer have to step inside a branch. It could also be used to create apps like Matador which make it easier for those with a limited income to make investments directly from their phone.

Additionally, open banking APIs can use customer data, including buying habits, financial goals, risk tolerance, and social interactions, to provide proactive solutions and advisory services. Amazon is using their merchant’s data to provide them with fast loans.

Except this to encourage more collaboration with PSD2 (Revised Payment Service Directive), which went into effect in January 2018. This requires banks to make their customer data and payment initiations available to third parties through APIs. By encouraging startups and banks to collaborate this will provide more value to the customer. It also will foster more innovation and competition within the payments industry.

Digital expectations will continue to increase.

“Consumers and prospects don’t care about a bank’s clogged-up digital backlog or an insurer’s problems with its legacy systems,” warns Forrester in its Predictions 2018: Financial Companies Get Serious About Digital Transformation.

Jim Marous, Co-Publisher of The Financial Brand, adds, “In the end, it’s about value creation for the consumer, who will reward the organizations that make their daily life easier.”



I'm Chalmers Brown and I'm the Co-Founder and CTO of Due. I'm a big fan of technology and building financial products that help people better their lives.

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