Bachelor of Financial Technology
Topics in financial technology
Review of recent development in fintech
Luong Thai Bao/Pham Minh Hoan
7/2022
Conents
• Global fintech adoption index 2019
• Key trends in fintech – Business perspectives
• Key trends in fintech - Technology perspectives
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Global fintech adoption index 2019
• Consumer fintech adoption trends
• SME fintech adoption trends
• They define fintech as organizations that
combine innovative business models and
technology to enable, enhance and disrupt
financial services.
Source: EY (2019)
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Consumer Fintech adoption trends
Key findings:
• Finding 1: Global Fintech adoption has reached 64% and has
become mainstream in all the surveyed markets.
• Finding 2: Only 4% of global consumers are not aware of
money transfer and payment Fintech services.
• Finding 3: Three out of four consumers have used a money
transfer and payments FinTech service.
• Finding 4: FinTech adopters prefer online and app-based
financial products despite concerns about personal data
security.
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Consumer Fintech adoption trends (2)
Key findings:
• Finding 5: Attractive rates and fees has overtaken the ease of
setting up an account as the primary reason adopters cite for
choosing a FinTech challenger.
• Finding 6: While consumers’ trust in their main bank or insurer
remains high, 33% of FinTech adopters say they would first turn
to another organization when considering a new financial
services product.
• Finding 7: 68% of consumers are willing to consider a financial
services product offered by a non-financial services company.
Finding 8: 46% of FinTech adopters are willing to share their
bank data with other organizations in exchange for better offers.
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SME fintech adoption trends
Key findings:
• Finding 1: 25% of SMEs have adopted FinTech globally
• Finding 2: SME adopters in all markets rank the range of
functionality and features as the top priority in selecting a
FinTech, followed by the availability of services 24 hours a day, seven
days a week.
• Finding 3: 56% of respondents have used the banking and
payments category.
• Finding 4: 93% of FinTech adopters prefer to find a technological
solution where possible, including when they
face a new regulation.
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SME fintech adoption trends (2)
Key findings:
• Finding 4: 93% of FinTech adopters prefer to find a
technological solution where possible, including when they face
a new regulation.
• Finding 5: When considering new services, adopters are more
likely to seek advice from multiple sources.
• Finding 6: 89% of FinTech adopters are more willing to share
data with FinTech companies.
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KPMG’s Top predictions for the fintech market
globally – Business & Technology perspectives
1. Growing number of banks will offer embedded solutions
2. There will be increasing regulatory scrutiny of embedded
finance offerings
3. Fintechs will focus on branding themselves as data
organizations
4. ESG-focused fintechs will have a big growth trajectory
5. There will be a stronger focus on dealmaking in
underdeveloped regions.
6. Unicorn status will lose some of lustre in developed markets,
remain key in emerging ones
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Finextra’s Ten FinTech Trends for the fintech market
globally – Business & Technology perspectives
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Open API
The internet of things
Regulatory technology (RegTech)
Biometric authentification
Artificial intelligence
Blockchain
Cloud computing
Virtual cards
Robotic process automation
Voice payments
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How do we proceed from here?
• “innovative” way to learn
– Put yourself in a group
– Select a topic, a type of deliverables
– Work collaboratively among yourselves with lecturer’s
assistance and supervision
• be fundamental and start small
– Finance-based issues
– Application of general purpose technologies
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Thank you!
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