Top Fintech Market Development Trends in 2021

Photo of author
Written By Adeyemi Adetilewa

According to statistics, in 2021, 64 percent of consumers around the world used at least one fintech platform, as opposed to 33 percent in 2018. The popularity of fintech solutions has doubled, and this cannot be ignored. 

Here are some of the key areas for the development of fintech technologies that are most relevant in 2021.

Fintech Trend #1. Banking outside banking applications

2021 is pushing banks further and further away from customers. Built-in financial tools allow you to integrate a lot of services into any product.

For example, today you can apply for a loan on the website of an online store without filling out questionnaires. And you can transfer money through applications that are far from the world of finance.

All this contributes to the development of financial technologies and the growth of banks’ profits since it allows banks to compete with other companies and their audience.

Fintech Trend #2. Live data

Fintech Trend #2. Live dataInformation about the financial situation of customers quickly becomes outdated and banks have to monitor it in real-time in order to make decisions. The increase in the amount of data leads to an increase in the cost of computations for its processing.

Therefore, today analytical and scoring products that work online, which provide historical estimates and forecasts based on big data, are developing very rapidly.

Fintech Trend #3. A new look at loans and insurance.

Rapidly changing user behavior is driving the emergence of hybrid credit and insurance models.

Where insurance has always dominated, loans are already emerging. For example, solutions for financing deposits when renting real estate.

Fintech Trend #4. Unmanned finance

2020 shook up the financial world and made people look for new ways to save and increase their capital. The answer to this need can be automated financial solutions, the first prototypes of which were bank accounts – “money boxes”.

But finance software development can do more. Everyone is waiting for an automatic regulator that will distribute funds to bank accounts with the best conditions.

Fintech Trend #5. No more intermediaries

The restrictions due to the pandemic have fueled the rapid growth of online payments and highlighted cost issues. Businesses have a big demand for alternative online payment services (cryptocurrency, QR codes, e-wallets).

Of course, international payment systems have not disappeared. However, solutions are being actively developed that affect the changing role of Visa, Mastercard, and acquiring banks.

Fintech Trend #6. Financial technology designer

Traditional financial institutions have accelerated infrastructure upgrades and digitalization, and this has led to a trend towards simplifying digital infrastructure.

In the short term, we are talking about low-code development (that is, with minimal requirements for knowledge of the code), and in the long term – no-code solutions. In the future, banks will be able to assemble customized solutions that will best meet the needs of customers.

Fintech Trend #7. The rise of digital assets

Fintech Trend #7. The rise of digital assetsFollowing China, dozens of countries announced in 2020 that they are starting to develop their own digital currencies or are exploring such an opportunity.

In parallel, regulators have tightened control over cryptocurrencies, obliging crypto services to identify users in the same way as banks do. As a result, many players in the financial industry have changed their minds and set themselves up to create a hybrid model with digital assets.

PayPal, BBVA, and Visa have already launched crypto solutions, the rest are closely following the leaders. In the near future, large players will likely not only develop their own but also integrate third-party crypto products.


Financial companies continue to build ecosystems and super apps that know everything about human life, as well as universal decision-making tools.

Large players in the world market are betting on open banking and narrow niches to help segmented audiences in certain areas of life-based on data from different banks. At the same time, there is a desire to provide users – both individuals and legal entities – with the opportunity to make better financial decisions. And this is undoubtedly the main long-term fintech trend.

Disclaimer. The views and opinions expressed here are those of the authors. They do not purport to reflect the opinions or views of Any content provided by our bloggers or authors is of their opinion and is not intended to malign any organization, company, individual, or anyone or anything.

For questions, inquiries and advert placements on the blog, please send an email to the Editor at ideasplusbusiness[at]gmail[dot]com. You can also follow on Twitter here and like our page on Facebook here. This website contains affiliate links to some products and services. We may receive a commission for purchases made through these links at no extra cost to you.