Juniper Research unveiled the 10 trends that are set to radically impact the fintech and payments landscape in 2024, included within its latest whitepaper.
The study found that the fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A (Account-to-Account) payments having a major impact on business models. This is combined with unprecedented competition to be ‘top of wallet’ for customers, making the market more competitive and uncertain than ever.
Top 10 Fintech and Payments Trends 2024
The trends are as follows:
1. A2A Payments to Challenge Cards in eCommerce and for Funding Wallets
2. CBDC Use Cases to Emerge in Practice
3. Generative AI in Banking to Transform Spending Insights
4. Digital Identity Adoption to Be Catalysed by Digital Wallet Integration
5. AML Tools to Better Leverage AI as Alternative Payments Complicate Compliance
6. Sustainable Fintech Solutions to Emerge, as ESG Compliance Tops Agenda
7. FedNow to Fail to Match Instant Payments Success, but VAS to Flourish
8. Mobile Financial Services to Accelerate Transition to Banking Tech Services
9. Biometric In-store Payments to Surge, as Checkout Innovation Rises
10.. B2B BNPL to Provide Critical Financing for SMEs
Featured image credit: edited from freepik
