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The main trends in fintech in 2024

Juliia Fedosiuk spoke about the main trends in fintech in Ukraine and the world in 2024 in the column of the business publication “Economichna Pravda”!

Artificial intelligence in financial services:
An important tool for the development of financial services in 2024 will be the use of artificial intelligence: use in lending, trade automation and customer support through chatbots. Smart automation promises to streamline processes and make financial transactions more secure.

Instant payments:
Demand for instant payments is expected to grow in 2024. According to forecasts, the volume of such transactions will increase by 289% by 2030. Ukraine also plans to introduce instant payments in accordance with European Union standards, which will add speed and convenience to financial transactions.

Financial inclusion:
Financial inclusion remains an important aspect for the recovery of Ukraine’s economy. The goal is to ensure the availability and level of use of financial services, promoting the economic inclusion of the population.

Technological trends 2024:
🔹Open banking.
It is expected that by 2026, the global open banking market will exceed $116 billion.
🔸Tap to Phone.
A convenient method of non-cash transactions.
🔹Digital wallets.
According to a study by Mastercard, digital wallets are now used by 30% of consumers in the world. In Ukraine, this figure is 50%.
Widespread implementation of decentralized finance.
🔹Digital currencies.
Implementation of the central bank’s own digital currency in Ukraine and regulation of the crypto-asset market.

Read more at the link: https://www.epravda.com.ua/columns/2024/01/4/708359/

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