Finance being the blueprint for money management & a leading power for geopolitical relations over the world & from a micro perspective helps an individual or an organism to transact & connect with other parties. Hence, being one of the centrics that leads global change for the society as much as the environment.
Trends
- FinTech – InsuTech
- AI – Autonomous financing
- Green BlockChain – Smart Contracts
- NFT
Stats
- Digital banking being speculated to raise crossing 12 trillion $ by 2026
- By the end of 2020, total consumer debt was around $14.6 trillion, and total mortgage debt reached roughly $10.3 trillion
- Digital gig work generated $204 billion in customer volume in 2018 and is expected to grow to $455 billion by 2023, according to a recent Mastercard study.
Start-ups
- Chime: This US neobank provides fee-free financial services through its mobile app. It recently launched a new Visa credit card, designed to help customers build a credit history. And during the coronavirus pandemic, Chime built customer loyalty by rolling out $200 stimulus check advances to 100,000 customers.
- N26: This German-headquartered neobank has no branch network, meaning it reaches consumers completely virtually. N26 products include a free checking account, personal loans, and a suite of PFM tools.
- Personal Capital: This US-headquartered direct-to-consumer (D2C) digital wealth manager offers savings and retirement planning services.
- Varo: In 2020 Varo became the first neobank to receive FDIC approval and to receive a national bank charter. According to Insider Intelligence, Varo plans to use the approval to add credit products such as short-term loans, credit cards, and home financing.
- Cleo: You may recognize this service from Facebook Messenger. This AI-powered money management chatbot is now offered as an app that pulls in customers’ bank data to analyze spending in real time and generate personalized financial insights.
Key words
- Finance
- Tech
- AI
- BlockChain
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