Five Notable Fintech Attributes And Companies

[This post was coauthored by Christy Lano.]

Forrester’s recent report on the state of the fintech shows that financing for fintech companies has not only recovered (from a set low in 2021) but reached new, historic heights. To delve deeper into this research, we look at specific fintech companies and – more importantly – our trends in product, pricing, business models, digital services, or brand positioning fintech and financial services.

Five FinTech illustrate the features that make something so successful – and therefore disruptive (see image later in this post). Here are the fintech companies that show some of the key trends in the game:

  • Incomplete need: Silverbills. Requirements encourage innovation, and a range of emerging fintech companies focus on shared money. Silverbills is one of the few fintech that helps adults manage their elderly parents’ money by tackling stress such as billing, check-writing, and notifications and other service deadlines – to the benefit of both adult payers and their carers (s).
  • Simplicity: Tide. Many FinTechs find success by respecting a specific area of ​​financial services and simplifying products, services or experiences for customers. Tide, for example, was one of the first neobanks to focus on small business: it gave businesses the ability to open and set up a bank account in minutes. Once onboard, customers can easily view classified income and expenses, track invoices, upload receipts, and easily sync with accounting software.
  • Value creation: Ando. Emerging fintechs can make a difference in volatile markets and create value for a specific audience. Ando’s value proposition is to attract customers who prioritize sustainable banking, environmental concerns. Ando focuses on investing in sustainable transportation, renewable agriculture, and clean energy.
  • Business Model: Swan. By finding more efficient and efficient ways to work, Fintech avoids the hereditary costs that existing companies have. Some fintechs are creating new revenue streams by helping their financial products embed in other platforms or helping them create new products. Swan enables companies to embed financial products – including options such as “buy now, pay later” or international bank account numbers – on their own products or platforms. The idea is to help firms overcome the friction customers face when bouncing between apps to pay for something – and explore new revenue streams and ecosystem opportunities.
  • Survival: Nubank. Fintechs face barriers to entry to collect the most responsible (often huge) customer base. Nubank, Brazil’s only digital bank, now serves 40 million customers It has built this customer base online, avoiding the cost of a branch network. Nubank customers can open an account within 20 minutes, get credit card approval on the same day and get the card within eight days. It takes a lot of time for existing banks in their market to provide these services.

If you are a Forrester client, we encourage you to read The State Of Fintech, 2022 to learn about other successful fintechs (and the reasons for their growth). In addition to our predictions about the future of Fintech, the report also outlines how those responsible can plan and work on the opportunities of the Fintech space.

Five Features of a Successful Fintech Company

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