Here are five Fintech trends to watch in 2017:
- Blockchain will still be hot – Blockchain will move beyond the proof of concept and still remain a hot topic to be discussed. Everyone will keep an eye on how it does once it’s been implemented.
- Mobile Payments Increase – 2017 could be the year of mobile payments. More shoppers may ditch their wallet for a digital one in 2017. A new study by Visa suggests we could see a rise in mobile payments. While 18 percent of those surveyed tried a mobile payment last year, 26 percent of consumers say they plan to try mobile pay this year.
- Investment and Financial Planning Services on the Rise – Virtual financial robo-advisors for your investments are becoming normal now. More investment and financial planning services will be on the rise. People want an easy way to understand investing and personal finances and many of the new virtual services and apps make managing your money simple.
- Banking Automation – New and existing technologies are allowing institutions to ultimately offer unique banking experiences, including chatbots, artificial intelligence, and advanced machine learning.
- Fintech Disrupts Traditional Banks – Fintech will continue to disrupt traditional banks in 2017. Traditional banking (and other financial industries) is being unbundled by entrepreneurs. Technology is changing the way people use banking and money.
Shaw’s customer-focused software supports a wide range of consumer lending products including loans, line of credit, home equity, dealer/indirect, floor plan, commitments, escrow, securitization, and insurance. Our fully integrated solution offers seamless support for the needs of the borrower, dealer, internal staff, and management.
Call Shaw Systems at 713.782.7730 or visit us at Shawsystems.com to learn more about our loan servicing software solutions.