Five Fintech trends reshaping financial services
Throughout the last few months, we've spoken to 10 startups who represent five general trends in Nordic Fintech.
These trends - and the companies embodying them - are relevant to communicate, as they can potentially serve as inspiration to the rest of the world.
In this article, we wrap up our article series by touching upon each of the categories, and some of the companies within them.
*some startups are mentioned twice, as they cover multiple themes.
Embedded Finance
This trend refers to fintech companies developing solutions that can either embed financial services into other companies and product offerings, or leveraging existing financial infrastructure through partnerships to provide more innovative, and faster services.
A relevant example is November First's transaction engine which through an API, can be embedded into other companies’ product offerings.
Read about the companies we engaged with here:
Sustainability
Sustainability is trending in many areas of industry in the world and has become an important theme for companies and corporations, as regulatory institutions increasingly pressure businesses to adopt greener solutions.
This trend has created promising opportunities for fintechs to provide sustainable solutions to companies and individuals.
Check out the articles here:
Disrupting Wealth
Disrupting Wealth is about new ways of approaching finance that were previously unthought of. This trend involves democratization of services, increased transparency, and innovative ways of engaging new segments.
Disrupting Wealth can be anything from investment platforms, to automated advisory platforms, cryptocurrencies and tokenized assets.
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For this category, you can check out these:
SME Digitalization
Many fintechs today are targeting small and medium-sized enterprises. These emerging solutions are satisfying a market demand which is, and has largely been, neglected by the financial industry.
Today, SMEs comprise 98% of Danish businesses, leaving a strong opportunity for fintechs. What's more, digitalization is still a relatively new phenomenon, and many businesses have yet to benefit from, for example, automated services in their finance departments.
Read more about the two companies we spoke to:
Incumbent Reinvention
This trend refers to the development of fintech solutions aimed to accelerate the digitalization of incumbents. That means optimizing service offerings of established players in the financial industry, and using tech to enable new offerings for SMEs.
An example of this is Januar, who is opening the capacity for cryptocurrency business to have bank accounts - something that established financial industry doesn't cater to.
Read about Januar here:
Closing thoughts
The Danish Fintech ecosystem is alive and thriving.
Based on investment data from previous years, Fintech is growing significantly, and will likely continue to.
In this series, we highlighted 10 companies, but there are many unique solutions being developed in our ecosystem that have gone unmentioned.
Check out latest report!
If this series was interesting to you, consider checking out our newest report: The Untapped Potential For Fintech To Serve SMEs.
A big thankyou for the collaboration!?? Mikael Nilsson - November First ?, Magnus N?rbo - Legacy, Morten M?gelmose - Zliide, Sarah Millerton - Moneyflow, Mads Andreas Olesen - MXNEY.io, Simon Haldrup - Agreena, Victor Bybjerg Jensen - Plata, Albert Geisler Fox - Performativ - Financial Solutions, Jakob Lage Hansen - DoLand, Simon Ousager - Januar.