2023: A Year of Change for the Fintech Industry

• Cryptocurrency is set to be a key trend in 2023 with increased adoption across the digital assets industry.
• Embedded financial systems and innovating in the digital age are also set to be big trends.
• Companies in the fintech and cryptocurrency industries will need to strive to restore their customers‘ faith.

The upcoming year of 2023 is going to be a watershed moment for the fintech industry. With the rapid development of technology, the environment and available tools will be drastically different by the end of the year. It’s time to look into the future and make predictions for the upcoming year.

Cryptocurrency is set to be a key trend in 2023, with increased adoption across the digital assets industry. This is due to the increased monitoring and control from authorities throughout the globe, but also with the exit of many rogue actors. The failure of many crypto enterprises in 2022 will prompt authorities to take a closer look at and adjust the laws and standards that have already been put in place. Companies in the fintech and cryptocurrency industries will need to strive to restore their customers‘ faith in them after the FTX crash and the subsequent bear market.

Embedded financial systems and innovating in the digital age are also set to be big trends in 2023. This will involve the use of technology such as artificial intelligence, big data, and blockchain to provide financial services. Banks and financial institutions will be able to provide faster and more efficient services to customers, making it easier for them to manage their money.

The use of open banking technology is also set to be a major trend in the next year. This will involve the use of APIs to allow third-party developers to access and use financial data from banks and other financial institutions. This will enable banks to offer more tailored services to their customers, such as personalised loan offers and tailored investment advice.

Finally, the use of digital wallets is also set to be a major trend in the 2023. These digital wallets will allow customers to securely store and transfer their funds without the need for a bank account. They will also enable customers to make payments and transfers without the need for a physical card. This will make it easier for customers to make payments and transfers, as well as providing them with more control over their finances.

Overall, the upcoming year of 2023 will bring a lot of changes to the fintech industry. Cryptocurrency is set to be a key trend, with increased adoption across the digital assets industry. Embedded financial systems and innovating in the digital age are also set to be big trends. The use of open banking technology and digital wallets are also set to be major trends in the 2023. Companies in the fintech and cryptocurrency industries will need to strive to restore their customers‘ faith in them after the FTX crash and the subsequent bear market. With all these trends and developments, 2023 is sure to be a major year for the fintech industry.