Best Fintech Development Services Trends In 2022


Today it’s difficult to find a company in the financial sector that doesn’t use the achievements of the IT industry or doesn’t plan to implement them shortly. But what specific technologies will help create a truly advanced solution that would increase the efficiency of current business techniques? Below we will discuss the main trends in fintech development services that will solve this problem.

5 Hottest Trends in the Fintech Sector

Below we have compiled a list of trends for the fintech industry that will make your business even more profitable.

Artificial intelligence and machine learning

Increased competition in the market and new customer requirements have provoked the need for companies to use artificial intelligence and machine learning. In particular, these two concepts have made it possible to provide customers personalized service at a reduced cost and perform accurate analysis and forecasting.

For example, in banking institutions, AI and ML improve the quality of service, processing all customer requests in real time. This is where chatbots, voice, and virtual assistants come in handy. In lending, machine learning and AI are used for personal identification, credit rating, and fraud detection. In insurance companies, AI and machine learning automate insurance claims, identify risks, and detect insurance fraud. As for startups, solutions based on these concepts help compete with existing market leaders and organize cooperation with them through B2B.

And, of course, let’s not forget about automation because AI can provide uninterrupted and error-free execution for any business process: automate internal procedures, reduce the processing time of unstructured data, reduce costs, and generate reports.


Decentralization technology or blockchain is widely used in the cryptocurrency niche. However, it’s also relevant for financial institutions, which are fully regulated by law.

In particular, with the help of blockchain, functions such as identity verification and registration of transactions become simpler, safer, and faster. Blockchain significantly reduces the risks of counterparties, thanks to the instant verification of each of their history and reputation without a trusted party’s participation (the counterparty doesn’t have to provide any documents or access data).

Also, the decentralized architecture makes it possible to conclude contracts and agreements without the participation of lawyers, guarantees the security of money transfers in any amount (with the help of smart contracts), and allows financial companies to manage business risks effectively.

Thanks to blockchain technology, it’s possible to get rid of participation in financial transactions of third parties: for instance, to store and transfer funds without a bank’s participation. In addition, blockchain-based platforms can be used for asset management, trading, contract signing, auditing, and transaction tracking.

Cloud computing

Cloud computing allows financial institutions to store data in remote data centers that can be accessed from anywhere in the world. Banks and similar authorities use them to securely handle large amounts of data, providing personalized, multi-level access. In addition, the cloud infrastructure allows companies to dynamically expand the number of users of their digital solutions without the need to purchase hardware for local installation.

Today, there are three forms of cloud infrastructures: public, hybrid, and private clouds. In the first case, companies place their digital capacities on the side of a cloud computing service provider (Amazon, Microsoft, and Google are among the most prominent providers). The second type of infrastructure involves sharing private and public clouds to get the most benefits that only cloud providers can offer. They all coexist independently of each other but serve the same financial organization. As for the third option, it’s intended for use by an individual company and is personally deployed in the data center and in similar instances.

Internet of Things

For fintech companies today, it’s important to close the distance with the client. People are more active in using services if they need to perform a minimum of actions to pay for and receive them. That’s why banks switch to open APIs, develop embedded finance, and launch applications. The next stage is using the Internet of things to make transactions and other financial services easier than ever.

The Internet of Things in fintech simplifies not only the lives of ordinary people but also the work of businesses. And this is noticeable not only in logistics and storage of goods. In particular, we are talking about optimizing customer service. For example, queues are common in many banks. But IoT devices can quickly find the most appropriate financial institution advisor for a client. In this case, clients enter their problem into specialized equipment, receive a ticket with information about the company employee who will solve this problem, and then the device informs when the turn comes.

In general, IoT allows financial institution managers to reduce the number of staff and service costs and customer waiting time.

Serverless Infrastructure

Serverless architecture is a relatively new concept, especially when compared to all of the above trends.

From developers’ perspectives, serverless environments eliminate the need to set up and manage a server infrastructure to run applications. This, of course, does not mean that the servers are not involved. However, programming in serverless environments frees developers from making various decisions about managing servers and distributing computing power. One of the most interesting use cases for serverless solutions is the creation of APIs, thanks to the acceleration of the development of such interfaces.

Given the low start-up costs, serverless solutions are great for fintech startups, as companies start paying for services only when there is traffic. In addition to startups, serverless technologies may interest financial companies interested in API development.


As you can see, the trends from our list aren’t new but still hold the lead in the field of fintech development services. They are responsible for automating routine tasks, speeding up the processing of large amounts of data, reducing costs, and improving the loyalty of the target audience. Therefore, if you want to keep your business competitive and increase the number of customers, you won’t be able to do without software solutions based on these trends.

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