Embedded Finance integrates financial services into the digital experience, creating new revenue streams and improving customer engagement. Organizations can unlock new value and thrive in the digital age by leveraging APIs, blockchain, and AI.
APIs are transforming the financial industry by enabling seamless data exchange, enhancing customer experiences, and promoting open banking. While raising concerns about security and compliance, APIs foster connectivity, scalability, and efficiency, creating new business models and opportunities.
The metaverse market is expected to grow to US$ 525 billion by 2027 from US$ 65 billion in 2022, at a CAGR of 52% during 2022-27.
Velox Consultants predicts that the Robo-Advisors Market will have a Compound Annual Growth Rate (CAGR) of around 25.4% by 2025. These Robo-Advisors provide automated financial planning services that rely on algorithms and require little human oversight.
There is huge potential for FinTech investments and growth in Africa. This is due to various economic and demographic factors, such as the lack of developed financial infrastructure, an unbanked population of over 65%, and a higher global population growth rate.
A neobank is a type of bank that operates entirely digitally, without physical locations. It is primarily managed through mobile and web applications, offering a more personalized and user-friendly banking experience than traditional banks. However, the range of services offered by neobanks could be improved in comparison.
AI is being used in FinTech, primarily through GPUs and CPUs with high capabilities. The banking industry is undergoing a global transformation.