Visi Money
TLDR: The fintech sector is beginning to see signs of recovery after a turbulent period. Eight key themes will power the comeback of fintech in 2024, including:
- Consolidation within the neobank and insurtech sectors, leading to mergers and acquisitions that will reward the strongest players and eliminate the weakest.
- A potential uptick in private investment in fintech firms, as well as a resurgence in fintech initial public offerings.
- The profitability of buy now, pay later (BNPL) services as companies like Klarna and Affirm find ways to make a profit on BNPL offerings.
- The continued growth of banks offering banking-as-a-service, which allows smaller banks to increase their deposits.
- The profitability and growth of stablecoins, despite regulatory concerns.
- The increasing demand for fast, cheap cross-border payment solutions.
- The growth of alternative investments, such as investments into non-traditional offerings like fine art, crypto, and real estate.
- The drive for innovation and growth within the fintech sector that is pushing it forward.
While the fintech sector faced challenges and setbacks in the past, it seems to have learned from its mistakes and is now poised for a strong recovery.
