The Spanish Association of Fintech and Insurtech (AEFI) prepared a document that it shared with Cointelegraph Español this Thursday, May 5, where it analyzes the main trends in the Fintech ecosystem and some models that will succeed in the coming months.
In this document, AEFI points out that FinTech and InserTech companies are a segment between startups and companies that have become fundamental tools in the last decade for other companies and end consumers to achieve their goalsthanks to the technology they use to accelerate digitization.
The document has a digitized, efficient and IT-based technological approach as the main characteristics of the sector to detail its achievements to date.
In this regard, the Spanish association points out five main aspects where the sector could have a triumph in the coming months:
Alternative financing and online consumer credit, which refers to the flexibility and speed that the user needs. In this aspect, they highlight that online consumer credit faces the challenge of responding to the change in consumers, to allow them to finance purchases quickly and safely.
Effective means of payment for new consumption habits. AEFI points out that users in the sector have demanded a greater scope and better alternatives for their consumption. According to the association, the new players in the sector have created fast, efficient and secure payment methods that will be a prevailing trend in the coming months.
banking 2.0, neobanks monopolize a percentage of 30% in the digital banking market in Spain, operating in the banking sector digitally. The trend is that this percentage will continue to increase in the coming years.
Companies that promote democratization and “sustainable” savings, here AEFI points out that those companies that are dedicated to wealth management with the latest technological advances have become the main democratizing element of wealth and investment management.
Technology at the service of regulationin which the financial and insurance industry face more regulatory demands where they have to comply with control and transparency standards by digitizing their processes related to regulatory compliance.
The Spanish Fintech and Insurtech association points out that with these 5 business models, there will undoubtedly be greater certainty in the transformation of the sector as well as of user habits, with the monitoring of operations that can offer an alert in possibilities of illicit activities.
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