Fintech Trends that Will Transform E-Commerce in 2020
Keeping track of these innovations and upgrades is critical for your business success, which is why we’ve compiled six of the essential fintech trends for 2020. These changes will exponentially transform the e-commerce marketplace, so don’t neglect their benefits.
Regtech Will Be Huge in 2020
Compliance tasks take up around 15 percent of the workforce in the financial industry, which is a severe waste of labor. Using an intelligent and highly-trained professional to verify information has become obsolete, which is why regtech will become even more critical in 2020, particularly for the fast-paced e-commerce world.
Expect a growing number of compliance technology in the financial sector, programs that streamline the lending process and ease the burden on overworked financial workers. Expect a rise of at least 500 percent in 2020, both in implementation and in research towards new regtech concepts in e-commerce.
Increased Millennial Presence
Millennials are finally coming into their own, financially, and will continue to be an increased presence throughout the financial market. While only 16 percent of millennials have saved at least $100,000, a focused number have saved even higher levels. As a result, fintech concepts will expand to meet their needs and transform the marketplace in a multitude of ways.
For example, many millennials use the internet either full-time freelance or have a side hustle that they use to make extra cash with e-commerce methods. New fintech concepts, such as automated investment or gig tracking software, could help these hustling millennials work harder than ever and enhance their online financial profile. And older investors will follow suit by implementing these ideas in their business portfolio.
Improved Capital Access for Small Firms
Smaller business firms often struggle to get access to high-quality sources of capital, particularly if they are focused so heavily on online transactions and don’t have a brick and mortar shop. Thankfully, new advances in fintech will make this process more accessible in 2020. These digital lending platforms will create appropriately-sized loans that help smaller firms succeed more easily.
For example, Allied Legal Solutions recently launched Fundafi, a site that focuses specifically on small businesses. The potential success of this site is likely to lead to an increased focus on smaller or startup firms, particularly those that utilize e-commerce buying and selling methods.
Innovations in E-Commerce Capital Markets
A growing interest in e-commerce capital markets could change the development path of many types of fintech concepts. The heart of this process is digitalization or turning as much of the banking and lending process digital as possible. The most significant benefit for the capital market will be an increased focus on automation and streamlining the banking process.
Other innovations will include increased
cybersecurity, such as enhanced firewall protocols and stronger anti-hacking measures. The capital market is particularly prone to these attacks due to the large volume of cash involved. Minimizing this risk requires new and bold innovations in fintech that are likely to be implemented throughout 2020.
Blockchain Will Continue to Rise
The blockchain revolution is real, and the world of e-commerce fintech is reacting to it in a variety of ways. Expect an increasing focus on cryptocurrency throughout 2020 – the bust of some currencies is real, but they aren’t going away any time soon. However, you should also expect a growing number of institutions to start integrating blockchain beyond cryptocurrency.
For example, the unique stability and security of blockchain connections appeal to many financial institutions. Rather than rely on copying data – which may be hacked or corrupted during the transfer – banks, lenders, and investment firms can directly send the data to their clients. These benefits are critical for e-commerce businesses that rely on online cash transfers.
Bython Media Inc.
8668 John Hickman Parkway
Frisco, TX 75034
Phone: +1 (214) 295-7705
TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Fintech Trends that Will Transform E-Commerce in 2020 here
News-ID: 1805157 • Views: 205
More Releases from Bython Media
Mastercard Launches Early Pay For Gig Workers
We’re living in the gig economy – one where instead of being held down by one job, people distribute their tie between multiple jobs across multiple companies. While this has in many ways altered how businesses are run, the biggest issue is with payments. Gig workers may not be paid until days or even weeks later. This can create problems for those participating in the gig economy. “Because the experience is
Top Emerging Finance Technology Trends to Know
The evolution of technology is disrupting and redefining every sector as we know it. The finance sector is no exception. In just a few years, we have seen new forms of currency, banking, financial services and expansion that previously were not possible. One example of expansion, writes TechFunnel’s Marco Islas, “is the exponential growth of Ant Financial, the digital payments arm of the China-based tech company, Alibaba, who gained 100 million
3 Ways AI Bots Can Improve Your Marketing Automation Efforts
Marketing automation has helped to connect customers to product and services provided by companies and helped those same companies to streamline their marketing efforts allowing them to spend less time on operational execution and more on strategy and storytelling. There are lots of marketing automation programs available that now help marketers and business organize, optimize, and automate their campaign elements. One tech element that can help automation efforts but doesn’t get
8 Reasons Online Advertising Works for Business Growth
We live in a digital age, and while some people do still enjoy reading a physical newspaper, most rely on the Internet for news, shopping, and more. Even with this knowledge, some digital advertisers are still working to convince senior management of the importance and value of online ads. To aid in the debate, the following are eight ways in which digital ads can help businesses grow and increase their
More Releases for Fintech
Information provided by Bouchard Fintech The US, at least this current administration, has mystified its European Union business and political partners. The EU represents one of the very largest economies on the planet. The EU is also very much a trusted ally of the US. The EU market continues to be a fertile ground for US exports. So, it was quite a surprise that the US seemed to be picking a
Fintech Crytponews launches cryptocurrency press release submission
23 May 2018 (Press Release) - Cryptocurrency is one of the most popular topics in the recent times. Backed by the success of Bitcoin, Ethereum and other alt-coins, the Fintech market has witnessed tremendous growth in blockchain technologies in the year 2017 and 2018. Daily we are witnessing new alt coins being launched every day. In the current scenario, it is challenging to stay updated with all the latest happenings in
Fintech – Key to Financial Inclusion in Nigeria
Driven by the changing landscape of financial technology and consumer behaviour, the financial services industry in Nigeria is experiencing a notable transformation. Technologies such as mobile banking are helping the unbanked population gain access to the financial sector. As Nigeria evolves from traditional to modern-day banking, it is imperative to evolve the existing digital channels to keep up with changing consumer needs and patterns. In an initiative to add value to the
RiskAPP joins Accenture’s FinTech Innovation Lab London
January 24, 2018 Among more than 270 start-ups from 42 countries applied, RiskAPP has been announced to be shortlisted as one of 20 innovative startups that will join Accenture’s sixth FinTech Innovation Lab London to be mentored by top banks and insurers in fintech accelerator program. During the three-month fintech accelerator programme, Jan. 2 – Mar. 22, RiskAPP and other Insurtech and RegTechs start-ups will collaborate with executives from banks
Rising Digital Connectivity and Cheaper FinTech Services to Drive the US FinTech …
Digital connectivity, faster payment options, lower customer acquisition costs through referrals on the social networks have all contributed to the growth and innovation in the FinTech in the US. The FinTech market has increased in terms of the transactional value from 2010 to 2015 at a CAGR of 24.5% during 2010-2015. Digital payment segment (consisting of digital commerce, mobile wallets and P2P money transfers) was by far the most revenue
Emergent FinTech: Defining the Potential and Opportunities
Summary Fintech has the potential to transform banking. Start-ups are introducing new services that are making existing tasks easier and cheaper to perform. They are also creating new markets, with the attendant prospect of new revenue streams. Although these developments could threaten the established banks, they also offer providers the chance to reinvent themselves and reconnect with their customers. Request Sample Report: http://www.reportbazzar.com/request-sample/?pid=439916&ptitle=Emergent+FinTech%3A+Defining+the+Potential+and+Opportunities&req=Sample Synopsis – Find out which areas of retail banking are most