Security News > 2023 > December > Rising fintech trends for 2024: From A2A payments to GenAI in banking

The fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A payments having a major impact on business models, according to Juniper Research.

The fintech markets is moving into a phase where innovation for innovation's sake is no longer a viable strategy.

A2A payments to challenge cards in eCommerce and for funding wallets - A2A payments will hit the mainstream, becoming an increasingly common challenger to card payments across eCommerce use cases.

AML tools to better leverage AI as alternative payments complicate compliance - As alternative payments become increasingly popular, AML tools will evolve rapidly to ensure compliance is maintained.

Biometric in-store payments to surge, as checkout innovation rises - Biometrics have the potential to revolutionise checkout experiences; catalysed by new innovation in the market.

Juniper Research's VP of Fintech Market Research, Nick Maynard, commented: "The fintech and payments market is undergoing fundamental changes, with new payment methods and different business models threatening to completely uproot existing operations. Stakeholders must fundamentally reassess the viability of their offerings, and build ambitious roadmaps for future developments, or they will be left behind by more agile competitors."

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https://www.helpnetsecurity.com/2023/12/26/fintech-trends-2024/