Fintech's journey is just getting started
Welcome back to Now & Next, your monthly dose of news, insights, and trends exploring where digital is now, and where it’s going next. For July & August, we’re focused on fintech trends — from AI to embedded finance to B2B payments — and how the industry is defining the customer experience.
Fintech’s rocky road continues to impact its power struggle with legacy banks and Big Tech, with recent blunders like the Synapse fiasco sounding the death knells once again. But analysts project fintech will grow in value to $1.5T by 2030, a massive leap from its current value of roughly $300B.
Newer players like Revolut and Monzo Bank are resurging from recent macroeconomic challenges. Established institutions have been reliable from a security standpoint but aren’t modernizing fast enough. From the advent of AI to embedded finance, what’s the future of fintech?
Read up
Where you can improve your web UX right now
Nearly nine out of 10 online shoppers won’t revisit a website if they have a bad experience. Is your organization risking losing revenue with less-than-stellar web UX?
UX also plays a key role in search engine optimization, as Google’s algorithm favors sites that meet the E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness) principles.
So, what can you do if your site isn’t meeting user expectations? The good news is there are a lot of small steps that you can take to start trending in the right direction.?
What to do about web UX now:
Start with a usability and accessibility audit. Assess the current state of your site’s structure, navigation, design, and content through the lens of usability and accessibility standards. Once you’ve fixed fundamental issues to reduce friction, you can move on to engagement strategies.
What to do next:
Elevate the visitor’s first impression. In the 0.05 seconds it takes for visitors to judge the quality of your website, your visuals and messaging need to get them to stick around.
Optimize the mobile experience. In 2024, a good mobile experience is table stakes — more than 58% of web traffic comes through mobile phones. Last year, Google updated its algorithm to prioritize mobile-first sites.
Modus happenings
We’re speaking at CX 2024
Modus will join customer experience leaders at 弗若斯特沙利文公司 ’s Customer Experience 2024 in Orlando, July 15-17. Modus’ EVP Growth, Michael Stineman , is excited to lead a roundtable conversation, “Integrating Multiple Platforms and Channels to Deliver a Unified CX," diving into how to deliver a consistent CX across touchpoints, interfaces, and experiences.
领英推荐
Join us: Digital Inclusion for the Visually Impaired
Globally, more than 2 billion people are blind or visually impaired. While technology such as AI has made great advancements in improving accessibility, authentic inclusion starts with understanding people’s needs. On Aug. 14 at 11 AM ET, join us for Conscious Conversations hosted by Jay Erickson , Chief Innovation Officer, Modus, with Julie Grutzmacher , Director of Patient Advocacy and Population Health Initiatives, Prevent Blindness , Aaron Linson CPACC , Accessibility Consultant, and Asim Mittal, VP, Engineering, Modus.
Reading material to keep up with what's next
Inside the digital product development process
How does a great idea become a compelling digital product? We take you inside the product development process, from the team to the tools, to share how the magic is made.
When’s the right time to update your digital strategy?
If you’re wondering, then the answer is probably yes. Tech and markets are moving so fast that organizations need a mix of offensive and defensive strategies to stay ahead of the competition.
Did you know?
Competition is coming to the Apple Wallet and Apple Pay — but only in the European Union. For years, 苹果 has held tight control over its contactless payment technology, but facing three EU investigations under the Digital Markets Act (DMA), Apple announced that it’s changing its tune.
The settlement is binding for a decade, opening Apple’s near-field communication (NFC) chip to third-party developers within iOS apps, separate from Apple Pay and Apple Wallet.?
Meanwhile, at last month’s WWDC, Apple announced a potentially transformative payment development for the iPhone’s anticipated iOS 18 updates this fall: the ability to “Tap to Cash.” By simply holding their phones together, users will be able to make peer-to-peer payments. Of course, this news was overshadowed by the exciting launch of Apple Intelligence, which promises to bring generative AI superpowers to the masses, securely — we shall see.
If the tech giant follows its usual pattern, iOS 18 will roll out sometime in September.
Thanks for reading this edition of Now & Next. Looking for a digital partner with expertise in the full product lifecycle? Learn more about services from Modus today. Want to go deeper? We'd love to chat!