fintech trends

Things to Watch in FinTech in 2018

Welcome! In this article, we are going to talk about some of the things in FinTech that we think are going to blow up in 2018.

Software and Financial Products coming together

One thing that we believe will be seen this year is the advancement of payment solutions, in a sense that they will be developed with additional valuable tools (think analytics, scheduling etc). Beyond that, think of the potential for a FinTech personal wealth management tool that can pay your bills, manage your bank account and process transactions instantly. This could well come as a result of PSD2 directive and banks working with APIs to improve the consumer and business banking experience.


Machine Power

Here at Turing Technology, we are fully invested and developing our knowledge and expertise into artificial intelligence and machine learning. We believe that these ideas will continue to revolutionise all sorts of industries, with financial services being one of those that will experience the biggest transformation.

The banking experience will be improved by AI, due to the ability to tailor the experience to each individual customer based on their interactions with the system. The banking industry is now heavily invested in chatbots, which will help to automate the customer care process.


FinTech solutions in the developing world

In Zimbabwe, with a hyperinflating economy, digital payments via cryptocurrency (a FinTech evolution agent) have become the norm, with 96% of all transactions coming in the form of electronic money. Retail banking has gone downhill, with the banks being mostly empty, which is a trend we expect to see in much of the developing world.

Countries in Africa, Asia and Latin America, faced with economic difficulties, are creating and adopting revolutionary FinTech ideas quicker than many developed nations.

fintech crypto trends

Blockchain and Crypto

Adoption of crypto and blockchain FinTech could accelerate at an unprecedented rate in 2018, though recent barriers from Facebook, Twitter and Google may impede this. It’s a fact that there will be a huge effort to create state-regulated cryptocurrencies to replace traditional currencies. There are the first attempts from Venezuela, ‘Petra’, as well as Japan’s ‘Crypto-yen’, and China’s huge investments in NEO and WeChain, suggesting they also wish to transition towards more blockchain infrastructure. These efforts do not implicate a rise in the price of Bitcoin, it only suggests that the banking and payment worlds are evolving. The UN are openly working on more than 17 different projects using crypto.

We expect that retailers will be some of the most notable investors in the movement, with sites like Amazon expected to adopt a crypto payment processor of some kind (Expedia, Shopify and Overstock have already got on board).


Financial Advice

Online advice for what to do with your money can come in many different forms, but the overall improvement of this service (likely hand in hand with AI) is a trend we imagine will happen in 2018. We believe the apps will become more intuitive, planning will become easier, diversification of investments will be more easily facilitated, intelligent tax payments will help lower charges, and strategies based on the data available will be clearer.


Personal wealth management

FinTech in 2018 will address personal wealth management tools and applications with a mission-based philosophy that aims to solve pain points and improve customer experiences. Simple, right? In theory, if financial services can integrate solutions into their customer and client experience, they are going to add value throughout the chain, and that’s what FinTech companies in the sector want to do.

One way this can be done is through robo-advisors, who can organise portfolio allocation, based on risk scores, with account rebalancing, using various automated approaches will allow users to get an around-the-clock experience that is scalable, cheaper and arguably with better results.

In this industry, it’s about customer experience first, technology second.



Well, there you have it, some of 2018’s FinTech trends that will shape various industries and allow the financial revolution to continue to flourish.

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