Exclusive video: Worldline talks future fintech trends
Held at the QEII Centre in the heart of Westminster, our annual conference, FinTech LIVE London 2023, proved to be a disruptive learning and networking experience.
The two-day event gave leading lights from across the fintech industry an opportunity to showcase their latest strategies, projects and innovations, while attendees soaked up valuable insight and expertise.
In his day one keynote over on Stage 1, Worldline Chief Technology Officer (CTO) Shekhar Kachole outlined the top 5 trends he expects to see dominate the fintech industry over the coming months and years – an industry expected to reach a market value of US$700bn by 2030.
The future of fintech: Top 5 trends
For Kachole, the top 5 trends that will continue to lead the fintech industry are:
- Decentralised finance (DeFi)
- Neo Banking
- Buy Now Pay Later (BNPL)
- Open Banking
- Green and Sustainable Finance
While these trends cover broad-reaching areas of our industry one thing is crucial, they are all gaining momentum.
In particular, the mechanism that powers cryptocurrency, DeFi, is “becoming more popular by the day,” according to Kachole.
Leveraging blockchain and smart contracts, it’s true that DeFi is redefining financial systems. “The most important thing here is that financial systems become decentralised,” notes Kachole.
“It breaks the mould of historical thinking at banks, that centralised finance is the only secure way of securing assets. It brings us closer to a Web3 future, which will help users transact directly and transparently with one another.
“DeFi fosters financial inclusion, automation and innovation. These factors are very important for any fintech seeking to scale.”
This is especially true when looking at the growth potential of the DeFi market, which is expected to grow from US$45.33bn in 2023 to US$231bn by 2030. This represents 33% of the US$700bn valuation for the fintech industry by 2030.
For more from Kachole on the growth prospects for Neo Banking, BNPL, Open Banking and Green & Sustainable Finance, you can click on the video link above.
Want to see more from FinTech LIVE London 2023? Stay tuned to our website for more content, which will be coming your way very soon.
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For more insights from FinTech Magazine, you can see our latest edition of FinTech Magazine here, or you can follow us on LinkedIn and Twitter.
You may also be interested in our sister site, InsurTech Digital, which you can also follow on LinkedIn and Twitter.
Please also take a look at the playlist for our latest hybrid event, FinTech LIVE London, to learn all about the latest trends in fintech.
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