Playing It Safe: Fintech's Growth in Uncertainty
Welcome to BizTech from Django Stars, our 10th issue — and the first for this year!?
This time, the focus is on the fintech growth expected for 2024, which can be particularly notable amidst last year's slowdown. As usual, don't forget to hit the subscribe button above to stay informed, and without further ado, let's get started.
Sustainable Profitability vs. Return to Active Growth
After decades of rapid growth and a 2022 market correction, fintechs represented a $550 billion market cap as of July 2023, with 272 unicorns valued at $936 billion. Shifting from high-funding experimentation, they now prioritize strong unit economics and cost-effective agility. Yet, revenues in fintech are expected to grow nearly three times faster than in traditional banking from 2023 to 2028. Significant growth opportunities lie in banking transformation, digital adoption, and e-commerce, especially in emerging markets.
At the same time, challenges in security and software integration persist. Gartner notes that while 72% of finance businesses plan to increase software spending in 2024 compared to 2023, it often takes 3 to 6 months to make a decision. Moreover, the buyer’s regret is also above average due to factors like those in the picture.
In addition, experts highlight new regulations such as a revised PSD2/3 framework and the development of the New Payments Architecture (NPA) in the UK. These changes introduce new challenges but also pave the way for payment innovation. For traditional banks, it's reasonable to prepare for heightened competition from digital disruptors, and the industry anticipates the emergence of new applications for real-time global payments in 2024.
Inside Django Stars: Into the Digital Tomorrow
→ Aleksander Savchenko , Senior Business Analyst, analyzes the surging e-wallet market in his new article, forecasting its significant growth further. The piece includes insightful statistics, challenges in the sector, and a Behance-featured e-wallet app concept illustrating UI/UX. From here, those interested can then dive into his more detailed guide to developing e-wallets.
→ Watch the video for an in-depth exploration of the MOSAIC API project. This collaboration between Django Stars and ETH Zürich has produced a user-friendly web interface for marine carbon data analysis, enhancing research on ocean health and climate impact. This 5-star partnership led by Dr. Sarah Paradis Vilar marks a significant stride in environmental data accessibility.
→ Django Stars partners with WasteHero to revolutionize waste management. The project is centered on streamlining household waste removal and enhancing municipal resource management. It brings a host of exciting new tasks for our team, aiming to elevate urban living quality and advance sustainability.
Blog Highlight: How to Create an Investment Website Platform?
Investment companies often face the decision of whether to adopt out-of-the-box solutions or create custom-built investment platforms tailored to their specific needs. This choice is fraught with complexities and potential pitfalls.
A major issue is the inefficiency arising from only partially digitizing an investment system — such as updating some elements while neglecting others. Additionally, the one-size-fits-all approach rarely works due to varying state regulations, which leaves fintech investment companies struggling to find a solution that aligns with their specific processes and requirements.
But what exactly does it take to create a robust investment platform? It's not just about the?technological aspect. It requires comprehensive planning, encompassing factors like a clear project roadmap, sufficient resources, regulatory compliance, and technical expertise.
领英推荐
The article by Iryna Meshchankina , Operations Manager at Django Stars, delves deeper, outlining different investment platform models, key features, securing data, and development costs. It offers valuable advice on what aspects to focus on.
Gain a comprehensive understanding of developing an investment platform, from testing and refining of its initial concept to its launch.
Industry News: The Django Stars' Perspective
2023 was a transformative year for fintech, marked by the rise of embedded finance, AI, blockchain, and a shift in funding dynamics towards sustainable models. The sector saw substantial revenue growth, increased regulatory scrutiny, and advancements in cross-border payments including those driven by G20 initiatives. Looking ahead to 2024, trends predict AI's expanded role, stablecoins' rise, increased cybersecurity, mobile payments growth, fintech-welltech partnerships, and a rebound in funding, reflecting renewed investor confidence.
In 2024, fintech trends focus on evolving existing technologies: enhanced embedded payment solutions, growth in decentralized finance and open banking, and significant AI advancements for improved consumer experiences. Collaboration in cybersecurity, adapting to consumer demands for accessibility and instant services, and addressing environmental and social concerns are also key. Quantum computing emerges as a potential game-changer in the fintech landscape.
The 2024 fintech landscape will be marked by embedded finance growth, increasing integration of Central Bank Digital Currencies (CBDCs), and the maturation of Decentralized Finance (DeFi). Super-apps will continue to integrate various services on single platforms, while Banking-as-a-Service (BaaS) faces API integration challenges. AI and machine learning are revolutionizing personalized financial services, and open banking is expanding globally despite legacy system challenges.
Top FinTech Articles: More from the Blog
Python Django Back-end Developer
1 年Great article! I wish I could work at Django Stars. It an awesome company. Love it!