Fintech is slowly shaking the realms, with about 46% of consumers using digital banking channels exceptionally. Of everything contributing to this bright future for Fintech,  data analytics  is one of the most crucial. That's what enables fintech companies to drive quick, precise decisions to serve better to their customers.

The Future of Fintech is Dependent on Improved Use of Analytics

Recently, fintech has experienced a boom, unlike other industries. Acceleration in the field led to an influx of major investments. Fintech isn't just fruitful for industry players everyday consumers are reaping the fruits, too. Financial services and other business-related concerns are enabling consumers to access solutions on a real-time basis.

Fintech continues to redefine itself with trailblazing innovations emerging several times a year. Around 90% of the world's data was established in the last two years.

These machines are now an integral part of our lives, Fintechs are now expanding and exploring  big data applications  to disrupt established financial institutions with a customer-oriented approach.

Emerging Trends in Fintech

Personalized Financing

Fintech uses data and analytics to personalize its offerings to provide the right sets of accounts and services as per consumer needs.

Automated Investing

Fintech has been successful in conquering the art of automated savings and investing to make effortless future savings.

The Evolution of the Fintech Industry

Keeping in the mind the present aspect, one can wonder: what does the future of fintech seem like? 

How will companies leverage the use of analytics to have a competitive edge in the growing market?

Data analytics, in fintech, rests the foundation for an organization's understanding of its potential customers. The analytics offers an in-depth insight into customer behaviour, requirements, and expectations. The better a fintech business understands its customers, the better it will serve them with customized and relevant solutions.

• As per research, the global fintech market is expected to grow at a CAGR of 23.58% from 2021-2025.
• Peer-to-peer lending is estimated worth up to $4316 billion in 2018 and is projected to boost up to $567.3 billion by 2026, at a CAGR of 26.6%.
• Blockchain  and Regtech (regulatory technology) are the fastest-emerging sectors considering the fintech industry. Thus, Blockchain is expected to be worth about $20 billion by 2024.

Owing to the heightened interest in the Fintech market, there are multiple predictions floating around about the market's possible future.