{"id":1878,"date":"2020-03-10T11:48:16","date_gmt":"2020-03-10T11:48:16","guid":{"rendered":"https:\/\/djangostars.com\/blog\/?p=1878"},"modified":"2025-08-15T12:14:25","modified_gmt":"2025-08-15T12:14:25","slug":"fintech-trends","status":"publish","type":"post","link":"https:\/\/djangostars.com\/blog\/fintech-trends\/","title":{"rendered":"Top 15 Latest Fintech Trends to Watch in 2024"},"content":{"rendered":"

The year 2023 solidified the preceding trends of 2022 turning them into best practices. After the cryptocurrency market crash<\/a>, interest in blockchain initiatives dwindled, and the US Federal Reserve interest rates inflation<\/a> reduced the feasibility of currency exchange projects.<\/p>\n

In 2023, the industry experienced a significant downturn in venture market funding, with a more severe drop-off compared to the broader venture funding landscape. Global fintech funding plummeted by 50% year-on-year (YoY) to $39.2 billion<\/a>, and deal volume fell by 38% to 3,801, marking the lowest levels since 2017. Nonetheless, eight new fintech unicorns emerged in the fourth quarter of 2023. While this was a six-quarter high, it was still far below the quarterly average of 2021.<\/p>\n

Yet there\u2019s still plenty of opportunity in fintech for those who care to look. BNPL 2.0 is going strong, virtual bank cards and digital mortgages are growing in demand, and both regtech and AI adoption in fintech are on the rise. The key to raising funding as a fintech startup in 2024 won\u2019t be caution and prudence: it will be developing products people will use in line with the latest global trends of fintech.<\/p>\n

For over 16 years, the Django Stars team has been developing successful software products in highly competitive industries, which includes delivering impactful custom fintech solutions<\/a>. Our clients have raised $1B+ in funding, and our average partnership period is three and a half years. All this gives us the expertise to list the 15 most prominent financial technology trends for 2024 with real-life examples (including our own case studies).<\/p>\n

Before we start studying fintech trends, we would like to share with you our guide on banking app development.<\/p>\n

Fintech Market Trends for 2024<\/h2>\n

Some global trends in fintech have been around for a while, and some are just gaining traction. To pinpoint the ones that will form the fintech landscape in 2024, we thoroughly researched numerous disruptive fintech trends. From a development perspective, it would be prudent to build fintech products in a way that allows for the rapid introduction of new features from the trends we\u2019ve included in this list.<\/p>\n

1. Virtual bank cards<\/h3>\n

Virtual bank cards are digital credit\/debit cards that live in an e-wallet, not in a pocket. They\u2019re offered by both neobanks (like Revolut, Monzo, Monobank, and N26) and traditional banking institutions like Bank of America or Capital One.<\/p>\n

The main benefit of virtual cards is that customers can pay with them in-store via NFC or on any online platform without the risk of losing money to traditional credit\/debit card fraud schemes. Every purchase from a virtual credit card is usually authorized through the customer\u2019s banking app, so a compromised virtual card can be voided and replaced with a new one in just a couple of clicks.<\/p>\n

Examples<\/h4>\n

Revolut<\/a>, Monzo<\/a>, N26<\/a>, and other neobanks use virtual cards to let customers make P2P transactions, in-app purchases, and online payments before their physical card arrives. Some challenger banks also offer \u201cdisposable\u201d virtual cards which change their details after every transaction, thus reducing the risk of fraudulent use.<\/p>\n

2. Embedded finance<\/h3>\n

While the concept of embedded finance is nothing new, it might just be the next revolution<\/a> in payments.<\/p>\n

Non-financial entities are now offering traditional banking services through the Open Banking API. Tesla offering car insurance<\/a> for each Tesla car purchased is just one example of the possibilities opening up for customer engagement.<\/p>\n

Of all the fintech trends for 2024 on our list, this looks set to be among the most disruptive. It\u2019s no surprise that revenues are expected to skyrocket by 2025.
\n\"Embedded<\/p>\n

Examples<\/h4>\n

Klarna embedded BNPL<\/a> lending, Lyft direct debit cards<\/a> for drivers, Google Pay<\/a> and Apple Pay<\/a> embedded payments.<\/p>\n

3. Buy Now, Pay Later 2.0<\/h3>\n

BNPL is steadily gaining popularity. This new fintech trend helps drive sales, lets customers use goods while paying for them, and contributes to long-term customer loyalty.<\/p>\n

The problem is, with literally nothing stopping people from spending money they don\u2019t yet have, the risk of falling into debt is high. As Juniper Research forecasts the number of BNPL users to grow from 360 million in 2022 to 900 million by 2027<\/a>, this is a legitimate concern.<\/p>\n

A 2023 LendingTree survey shows that at least 4 out of 10 BNPL customers are one or more payments behind. Nonetheless, the popularity of the service only grows, as shown dynamically in 2022 vs. 2023 statistics by Insider Intelligence<\/a>.
\n\"US
\nThe BNPL 2.0 approach \u2014 spearheaded by London-based unicorn Zilch<\/a> \u2014 aims to solve the problem. Instead of earning from buyers, Zilch makes a profit from merchant commissions, meaning customers no longer have to pay charges to traditional banking institutions. The aim is to give merchants the tools needed to become firsthand BNPL providers, so customers build relationships with brands<\/a> instead of just scheduling automated payments.<\/p>\n

Examples<\/h4>\n

Klarna<\/a>, Afterpay<\/a>, Zilch<\/a>, Apple Pay Later<\/a><\/p>\n

4. Alternative lending<\/h3>\n

Alternative lending \u2014 also known as P2P lending \u2014 is another of the disruptive fintech trends that grew in 2022. These are loan services given through online platforms that bring together borrowers underserved by traditional lenders and investors looking to tap into alternative markets.<\/p>\n

In 2022, alternative lending grew particularly popular in South-East Asia as the region recovered from pandemic-induced losses and started to develop using internal resources rather than international loans.
\n\"South-East
\nThere are several types of alternative lending:<\/p>\n