Learn about the most promising fintech trends for executive management and how they can transform your business operations, customer experience, and competitive advantage.

Open banking / Open Finance frameworks and APIs spurred the shift towards adoption of platform models by banks and FIs enabling more opportunities for monetization of data. As the collaboration between banks / financial institutions, fintechs and big techs increases, embedded finance opportunities grow. Swift entry of e-commerce and social media platforms into financial services boosted the growth. Super Apps are a means to bring the world to finger tip. PayPal, State Bank of India (All you need is one app) are to name a few. However a line caution is to ensure performance of app should not be impacted by overloading features. The architecture need to be visited carefully for smooth processing, experience and security.

What are the most promising fintech trends for executive management?

Fintech, or financial technology, is transforming the way businesses and consumers interact with financial services. From payments and lending to investing and insurance, fintech is disrupting traditional models and creating new opportunities for innovation and growth. As an executive manager, you need to stay on top of the latest fintech trends and understand how they can benefit your organization. In this article, we will explore some of the most promising fintech trends for executive management in 2021 and beyond.

1 Blockchain and DeFi

Blockchain is a distributed ledger technology that enables secure and transparent transactions without intermediaries. DeFi, or decentralized finance, is a subset of blockchain that aims to provide alternative financial services that are more accessible, inclusive, and efficient. DeFi applications, such as lending platforms, stablecoins, and exchanges, are challenging the dominance of traditional financial institutions and creating new possibilities for value creation and exchange. As an executive manager, you should be aware of the potential and risks of blockchain and DeFi, and how they can enhance your business operations, customer experience, and competitive advantage.

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Giovanni Sisinna

🔹Portfolio-Program-Project Management, Technological Innovation, Management Consulting, Generative AI, Artificial Intelligence🔹AI Advisor | Director Program Management @ISA | Partner @YOURgroup
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💡 In my opinion, blockchain and DeFi are two of the most promising fintech trends. 🔒 Blockchain ensures secure, transparent transactions, cutting costs, boosting efficiency, and curbing fraud. 🌐 Blockchain spawns opportunities in diverse sectors, like supply chain and digital asset management. 🤲 Blockchain fosters novel collaborations via decentralized markets and P2P lending platforms. 🌐 DeFi offers accessible, inclusive financial services worldwide, irrespective of location or status. 📈 DeFi platforms offer higher yields and returns on investments than traditional financial institutions. 🌟DeFi pioneers new financial products, such as stablecoins and synthetic assets.

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2 Artificial Intelligence and Machine Learning

Artificial intelligence (AI) and machine learning (ML) are technologies that enable machines to learn from data and perform tasks that normally require human intelligence. AI and ML are transforming fintech in various ways, such as automating processes, enhancing decision making, personalizing services, detecting fraud, and generating insights. As an executive manager, you should leverage AI and ML to optimize your business performance, reduce costs, improve quality, and deliver value to your customers and stakeholders.

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Manas Ranjan Panda PhD

Banking & FS I Strategy & Transformation | Innovation I Leadership I Stanford LEAD alumni
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To me, this is the most transformative technology that is going to drive business outcomes for the next decade. LLM models are gaining momentum post ChatGPT. More domain specific foundational models are under testing, which are going to impact both experiences and the end-to-end processes generating significant business value. Smaller domain specific models are cost effective as well. Some of the immediate use cases are customer experience, onboarding as a service, document management, risk monitoring, business promotions and reporting. Automatic code generation is another imminent use case. It’s time to break the process into pieces and reimagine with AI/ML in mind.

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3 Open Banking and APIs

Open banking is a concept that allows customers to share their financial data and access financial services from multiple providers through a single platform. APIs, or application programming interfaces, are the tools that enable open banking by facilitating the communication and integration of different systems and applications. Open banking and APIs are creating new opportunities for fintech innovation, collaboration, and competition, as well as empowering customers with more choice, convenience, and control over their finances. As an executive manager, you should embrace open banking and APIs as a way to expand your market reach, offer new products and services, and enhance your customer loyalty and satisfaction.

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Manas Ranjan Panda PhD

Banking & FS I Strategy & Transformation | Innovation I Leadership I Stanford LEAD alumni
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Open banking and APIs are enablers in the shift to platform model fostering embedded finance and marching towards embedded economy of the future. APIs are playing a major role in integrating banking and financial services to a host of financial and non- financial products and services- from e-commerce to gaming to fitness to name a few. Scalability, faster time to market, innovation are other benefits. It opens the Pandora’s box for innovation by crowdsourcing ideas.

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4 Biometric Authentication and Identity Verification

Biometric authentication and identity verification are technologies that use physical or behavioral characteristics, such as fingerprints, facial recognition, or voice recognition, to verify the identity of a person. Biometric authentication and identity verification are improving the security and convenience of fintech transactions, as well as complying with regulatory requirements and customer expectations. As an executive manager, you should adopt biometric authentication and identity verification as a way to protect your business and customers from fraud, identity theft, and cyberattacks, and to provide a seamless and frictionless user experience.

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5 Embedded Finance and Super Apps

Embedded finance and super apps are trends that integrate financial services into non-financial platforms, such as e-commerce, social media, or messaging apps. Embedded finance and super apps are enabling fintech to reach new customers, markets, and segments, as well as creating new revenue streams and value propositions. As an executive manager, you should explore embedded finance and super apps as a way to diversify your business model, increase your customer engagement and retention, and partner with other players in the fintech ecosystem.

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Manas Ranjan Panda PhD

Banking & FS I Strategy & Transformation | Innovation I Leadership I Stanford LEAD alumni
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Open banking / Open Finance frameworks and APIs spurred the shift towards adoption of platform models by banks and FIs enabling more opportunities for monetization of data. As the collaboration between banks / financial institutions, fintechs and big techs increases, embedded finance opportunities grow. Swift entry of e-commerce and social media platforms into financial services boosted the growth. Super Apps are a means to bring the world to finger tip. PayPal, State Bank of India (All you need is one app) are to name a few. However a line caution is to ensure performance of app should not be impacted by overloading features. The architecture need to be visited carefully for smooth processing, experience and security.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the most promising fintech trends for executive management?

1

2

3

4

5

6

1 Blockchain and DeFi

2 Artificial Intelligence and Machine Learning

3 Open Banking and APIs

4 Biometric Authentication and Identity Verification

5 Embedded Finance and Super Apps

6 Here’s what else to consider

Executive Management

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What are the most promising fintech trends for executive management?

1

2

3

4

5

6

1 Blockchain and DeFi

2 Artificial Intelligence and Machine Learning

3 Open Banking and APIs

4 Biometric Authentication and Identity Verification

5 Embedded Finance and Super Apps

6 Here’s what else to consider

Executive Management

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