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Finch Capital’s annual FinTech forecasts for 2022
Today, Finch Capital has released its 2022 forecasts (visit the forecast report here) for European FinTech. The forecasts summarize and collect industry data from various databases and research organizations. It also includes data on the Finch Group’s market insights, proprietary perspectives, and data based on its investment experience in European FinTech. We believe that the next 11 trends will shape 2022.
Fight to share and get margin for PSP – In the case of declining margin processing, value-added services will define the winners. As competition increases and payment processing is commodified, the ability of other products to make money and gain the advantage of gaining customers will be key to their survival.
Crypto / DeFi becomes dominant – Corporations are starting to take on Crypto & DeFi, paving the way for global adoption. CVC’s interest in allocating capital to space has increased, with the addition of the additional seal of approval required to be regular.
Sustainable consumer applications are finding scale – Consumer cash surplus and interest in due course. The dramatic rise in the flow of sustainable funds and household savings rates, along with increasing consumer interest, will help them find scale for sustainable investment applications.
Buy Now Pay Later Replaces Credit Cards – The struggle to gain market share in 3 to 5 years will be real. Recent generations will push for this change in consumer spending when they surpass baby boomers and if BNPL’s internalization continues.
Inserted insurance in a roll – One of Europe’s super apps will break an embedded insurance product with the most potential for money management apps. The insurance API ecosystem needs to be further developed to address this growth.
Back to the Basics of Artificial Intelligence – AI was a big hit last year, it’s time to get back to basic AI and keep it simple. Most of the value lies in traditional AI and analysis and does not focus on very niche financial functions. Implementation time and evaluation time are in question.
“Journey Home” Redefined PropTech will start covering the transaction chain to the end. The first wave has shaped some elements of the value chain, and in the years to come, it is about manually holding the customer in the digital environment throughout the process.
AI enabled debt collection software – The fastest growing use of financial services. E-commerce purchases are increasingly being financed through debt, and more efficient collection processes are needed with a new group of consumers, both retailers and agencies.
End 2 End KYC and Identity management is the name of the game – As the financial crime gets complicated, KYC solutions based solely on simple ID checks will be left behind. Continuous monitoring is complex, but it is crucial as it is one of the biggest concerns among industry leaders.
Payroll is the next big thing – The open bank war is over, turning payroll rails into the next infrastructure game. Payment APIs will allow financial product providers to get to know a consumer better, and will only allow them to track outcome actions (bank APIs). Imagine that the lender lowers their interest rate by “writing” their deduction into their payroll and, as a result, almost eliminates the non-payment.
BaaS M&A – A large bank, payments, or software vendor will purchase a payment-oriented BaaS company for vertical access.
“2021 was another amazing year for European FinTech; we expect 2022 to be bolder in many ways, from the acceptance of trends like Crypto, DEFI and digital home travel in the last 5 years to a more polarized landscape. NeoBanks and Brokers” Radboud Vlaar, managing partner of Finch Capital
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