Steady growth in the FinTech industry has taken place in the past decade. It is revising the lines in financial services. 2021 has witnessed significant innovation like never before. FinTech companies made a 96% increase in global funding and are turning out to be the « Decacorns. » The rise of FinTech as a Service (FaaS) platforms fueled the expansion of digital banks and the rapid adoption of biometric technology in onboarding. Further paradigms, such as embedded finance and autonomous finance, are emerging components of the sector, and 2022 is expected to see significant maturity.
The question that often turns up is: « What is the future of FinTech in 2022? » The prime predictions will be detailed in the sections below.