NewsFintech Trends and Predictions for 2019

Aisha Hillary-Morgan Aisha Hillary-MorganJanuary 15, 2019

Fintechs are big, growing and disruptive. Why wouldn’t they be on the up and up when they harness innovative technologies to help create efficiencies within the banking and financial services industry.

So what are the predictors and futurists saying the landscape will look like in 2019 and beyond?

Here’s a collection of some of the sources we think are on point!

Bitcoin is Just the Beginning

The Australian predicts that Bitcoin is Just the Beginning and that the “fintech” revolution is upon us – but we may only be at the start of it.

Highlights include:

“Financial technology is not only changing the way people purchase and invest, it’s changing the very definition of money as well.”

“Frost & Sullivan says the Australian fintech sector is poised to take $10 billion in aggregated revenues away from the big Australian banks, while contributing $3 billion of new revenue to the Australian financial services sector, by 2020.”

“As ‘Fintech 1.0’ matures, how the banks handle it will be largely determined by those two strategies and the competition between them. And then of course there is the banks’ ability to take out successful fintechs.”

“Digital payments are the services offered through a smartphone, point-of-sale (POS) device, or web-based tools allowing consumers to make payments (digital wallets) and trade shares, funds, foreign exchange and crypto-currencies (for example, bitcoin) in a purely digital platform. Digital payment methods are low-cost, instant, and global,”

“Mobile apps have been developed to be the sole platform for mobile banking and investment tools: out of the top 100 most downloaded and highly-rated apps on both the Australian Google Play Store and Apple App Store, 60 per cent of them come from small fintechs, not from the giant banks and investment firms.”

Read more here.


Fintech 3.0 – The Trends To Watch Out For

Hacker Noon, published Fintech trends to watch out for, the next big year, starting with the major breakthroughs shaping the trends:

  • The acquisition of WorldPay
  • The Funding of Ant Financial

His focus for trends to watch include:

  1. RegTech is here to stay
  2. Artificial Intelligence
  3. Blockchain will venture beyond Bitcoin
  4. Financial Inclusion

“FinTech would be the second-most significant transformation in Finance, since the first permanent banknotes. I believe, Financial Technology would not only disrupt the way we purchase and invest, but it would also alter the very definition of money itself.

“FinTech 3.0 is upon us and banks, and financial firms will enjoy a roller-coaster ride riding on the FinTech wagon. 2019 will be the year of banks acquiring FinTech firms, or waiting for their slow demise. Those who catch the FinTech train would bolster, and the rest would be gasping for air.”

To read a detailed breakdown of the trends read here.

Ten Trends You Will Read Everywhere

The author of Emotional Banking: Fixing Culture, Leveraging FinTech, and Transforming Retail Banks into Brands, published her ten things you will read everywhere for 2019.

  1. Big Data Will Change Everything
  2. Personalized Experiences Will Be The New Norm
  3. APIs Everywhere
  4. GAFA To Become Retail Banks
  5. Blockchain Will Change Everything
  6. Amazon Shall Take Unprecedented Scale
  7. Cloud Will Become Omnipresent
  8. Machines To Start Taking Our Jobs
  9. Voice To Replace Everything
  10. X (FinTech, Bitcoin, IPOs, etc) will collapse/disappear

Many of these statements we have been hearing for years but maybe will this be the year many become successfully integrated and become our everyday.


Fintech Forecasts For 2019

Chris Skinner, The Financer, always has a fantastic summary of what is forecasted for the year ahead. Following are his top pics:

  1. It’s not the end of cash, but points and loyalty will become more of a currency
  2. We will not see the end of plastic, but the industry will move more in that direction, especially with contactless technology
  3. 2019 will not be the year for blockchain and crypto, but it will be a year for AI and machine learning
  4. Smaller banks’ digital capability won’t reach that of the big banks, but open banking and other disruptive technology will help narrow the gap
  5. Data breaches won’t let up, but we will see crucial developments in authentication and combating fraud
  6. Banks won’t become branchless, but they will get more creative with their real estate
  7. We won’t get to the holy grail of real-time payments across the entire financial ecosystem, but we will make great strides in that direction
  1. Open Banking- will be the year when APIs start to make a difference
  2. Banks will retaliate against the FinTech threats
  3. The GAFA side shadow: you should worry about them
  4. Small business banking is a real opportunity area
  5. Starling and Monzo are the breakaway winners in the challenger bank arena, but can they keep it up?
  • Jim Marous, The Financial Brand, has two predictive lists worth highlighting for 2019:

* Five Innovation Personal Banking Trends of 2019:

  1. Serving a Segment of One
  2. Expansion of Open Banking
  3. Commitment to Phygital Delivery
  4. AI-Driven Predictive Banking
  5. Payments Everywhere

Nine trends affecting marketing to the digital user more around consumer behaviour:

  1. Social Media’s Growing Impact
  2. Need for Speed
  3. Real-Time Research Changes the Customer Journey
  4. Demand for Value in Exchange for Personally Identifiable Information
  5. Desire for Humanized Digital Experiences
  6. Growing Importance of Images and Voice
  7. Desire for Life Balance and Experiences
  8. Need for Privacy and Security
  9. Increase in Social Activism

To read more of Chris’ thoughts on the predictions and state of the market read here.


So what are your predictions for Fintech in 2019? Tell us what you think in the comments below.

We will continue to check in and review the progress over the year.

Aisha Hillary-Morgan

Aisha Hillary-Morgan

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