Positive Outlook for Fintech Growth

Digital banking and payment services company Discover has released part of its Fintech State of the Union report, revealing a potential turnaround for the industry following a difficult period. In particular, the report reveals that 34% of fintechs are expecting significant growth while another 43% are predicting moderate growth. The report also highlights the overall optimism of venture capitalists toward the sector, with 55% believing in strong growth for the technology sector and 47% expressing the same sentiment for the fintech sector. Within the current economic environment, most fintechs (93%) are looking for flexible and innovative payment partners that can offer them financial investments, better access to customers and the use of emerging technologies. By embracing emerging technologies and partnering strategically with payments networks, fintechs can enhance the industry and provide better experiences to customers worldwide.