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What Can We Expect From Fintech in 2021?


COVID-19 has changed everything. Before the coronavirus, many economies were already in jeopardy, unable to manage support for the Sustainable Development Goals. The future of fintech post-COVID will be adaptation. Otherwise, there will be no overcoming the struggle to rebuild financial health, confidence, and economic response.

There must be flexibility and agility, a modification of the financial world’s thinking. Fintech will be critical here. Let’s take a look at what we can expect from fintech in 2021 in the COVID world.

How does the finance world look like post-COVID?

From financial markets to supply chains, all fields of commerce have seen their operations disrupted by the coronavirus. Fintech is doing its best to evolve with the rapid change of pace. Fintech — all about shifting toward digital transformation — is seeing a world where digital transformation is not an option.

As a result of the pandemic, business models are consistently rebuilt. Fintech is in a unique position to be at the forefront of this trend. It will be through technology that agile reporting, investment flexibility, and forecasting will continue to thrive. The collection of data transformed into invaluable insight ensures driving business performance.

Access to platforms like the cloud and predictive machine learning and analytics creates an innovative and efficient operation. It’s not merely about the transformation of the back office. It’s about a foundation for all aspects of the business.

To better prepare for IPO audits, to enhance financial state visibility, and to handle implementation projections, digital transformation is imperative. You want cloud-based solutions. You want to partner that with the incorporation of remote lead practising. You need a definitive comprehension of how people, governance, processes, data insights, service delivery models can be optimised.


Innovative and solid vision of a post-COVID future isn’t possible without trust. There will be a greater reliance on online and digital fintech, but this will be grounded in security. Intelligent movement will entail knowing what and whom to trust in a digital world. The general public always needed to trust banks with their money. Now they need to trust their data to banks in a world where cyber threats grow in a weakened system. Fintech ecosystems must be creative and fresh to expand digital trust.

Fintech Trends Moving Into 2021

The pandemic hastened many digital innovations that were already on the drawing board. And these are only the beginning of the strides to make. Here’s a brief review of what may come our way from fintech over the next twelve months.

Growth of Digital-Only Banks

The coronavirus has put the brick-and-mortar financial institution in jeopardy, a situation already on the wane. The tech-savvy and newer generations are already doing everything with their devices, including managing their finances.

Rising RPAs

Organisations suffering the pandemic attempted to save money wherever they could. Gartner sees a projection of a 20% increase in 2021 over 2020 in RPA. This means automation in labour-intensive, repetitive, and error-prone procedures resulting in efficient background processes.

Continued Expansion of The Cloud

Remote work is the new normal. Virtual work is likely to underscore secure, scalable, cost-effective, and urgent off-site tech services. This means everyone finding the best ways to connect resources. There will be greater use of hybrid models.

Banking Transforms Into a Continuum

Digitisation in the financial market was accelerated by the pandemic, a trend already initiated by the millennials. Banks become general lenders. General lenders are becoming banks. Accounting apps streamline integrated financial practices.

There was the recent introduction of a credit card reader for the smartphone that makes same-day deposits at no fee. You can implement a solution that provides small businesses to manage invoicing, online payment, and bookkeeping.

These are examples of boundary-bursting fintech innovation. Over the coming year, Google plans to offer bank accounts with traditional lenders. Small business app Square added facilities for spending and even borrowing. Soon they’ll add payroll.

AI and Machine Learning Gets Smarter

Machine learning and artificial intelligence will move beyond human capability. They’ll detect patterns, perform analysis, and find answers. According to the World Economic Forum, AI will be of strategic importance to fintech and banking organisations over the coming two years. There are plans to integrate AI across risk management, process automation, customer service, and other vital functions.

A Maturing Blockchain

There are circles that believe the blockchain may be on its way out. This is because, in general, of its noticeably limited transaction speed. While there are exceptions to that, it’s considered peer-to-peer and decentralised finance will become primary platforms. These will be payment options outside of solutions for crypto and bitcoin investors.

Overcoming Major Setbacks

Despite any rebounds, as the coronavirus continues to shift momentum, we can expect plunges in economic activity and domestic resource mobilisation. Low- and middle-income countries are vulnerable as many investment inflows dropped. Each country will see different impacts dependent on their financial level and mix.

As with the 2008 Global Financial Crisis, support for external private investment will have a hard time recovering, further reducing capital inflows and portfolio outflows. From all these possibilities up to further narrowing between exchange moments and domestic public spending, fintech will be key to building and implementing sustainable goals.

With the outbreak, the global market hit a wall. Fintech has helped weather the crisis, giving small and medium businesses the means to minimise damage with financial solutions that sustained growth. Fintech recognised and cultivated innovations, fostered startups, SMEs, and entrepreneurial ventures during a period of obstacles to success. Fintech addresses challenges that resulted from the pandemic.


No analyst foresees a complete fall of the financial market, but there is great talk about the influence fintech will have on recovery. Fintech has always been a link between the future and tradition. It’s become the Internet of Things, the needed component for revolutionising restrictive and outdated systems struggling under the COVID. With the future of fintech post-COVID, new solutions and adaptation will enable traditional financial ecosystems to evolve and survive well beyond the pandemic.


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