2024 FINANCE AND BANKING TRENDS RANKED AND REVIEWED

01 Jan 2024 FINANCE AND BANKING TRENDS RANKED AND REVIEWED

Posted at 20:57h in Uncategorized by

Futurist keynote speakers and top public guest speaking consultants are wondering – what are the top finance and banking trends of 2024? And based on leaders’ research and review, you may be fascinated to learn what’s bubbling to the surface of the business world. It seems a sneak peak of what meeting, event, and conference convention goers are going to be hearing about is in order, if you’ll indulge us.

  1. Embedded Finance & Open Banking Goes Mainstream – Financial services are moving beyond banks through embedded finance (Buy Now Pay Later, lending services within shops). Open banking allows third parties to access bank data via APIs. Both models will see exponential growth, with new financial service providers disrupting traditional institutions.
  2. Central Bank Digital Currencies (CBDCs) Launched – Digital cash offered directly by central banks is expected to roll out in many countries in 2024. CBDCs may first target wholesale transactions between banks, before being expanded for consumer use. Implications around currency control, privacy, monetary policy are still being understood.
  3. DeFi and Cryptocurrency Adoption Accelerates – Decentralized finance built on blockchain and cryptocurrencies will gain more mainstream traction through everyday payment apps and credit cards. Regulations around cryptocurrency taxation and identification protocols are likely to emerge as adoption rises exponentially.
  4. ESG Metrics Become Paramount – Data around environmental, social and governance (ESG) metrics will become pivotal in investment and lending decisions. Quantifiable sustainability reporting integrated with financial performance data will become the norm. Green finance through bonds and loans will see massive rise.
  5. Fintech Collaboration With Banks Increase – Challenger fintechs will realize they need huge datasets and distribution networks of banks to scale innovations around lending, identity verification etc. Strategic partnerships between agile fintechs and banks will surge to blend technological innovation with trust and regulatory oversight.

 

As finance intersects increasingly with Open Data, AI, blockchain and ESG priorities, the market is hungry for customer-centric solutions. Incumbents and innovators alike will thrive if they prioritize transparent, inclusive and sustainable models aligned with emerging societal expectations.