Fintech Solutions for Banks: What are They?

2021 has been a record year for fintech – global investments in financial technologies hit $91.5 billion last year and are expected to hit $324 billion by 2026. The Kazakhstani fintech market has been rapidly developing too, ranking the13th place in The Global Fintech Index 2021 in the Asia-Pacific region.

Apart from using the in-house teams for building fintech products, more and more financial corporations in Central Asia are willing to integrate effective and reasonably priced banking solutions by means of outsourcing. This has been once more proved by the acceleration program launched by AIFC Tech Hub and Master Card in 2021, which included such leading banks as Altyn Bank, Eurasian Bank, and Freedom Finance Bank.

Other than just price and quality, what else are banks looking for in fintech solutions?

Our team has analyzed dozens of Central Asian fintech solutions before registering them on VentureRocket Eurasia. In our experience, professional investors are currently choosing banking startups that:

 🟪Add more services to the existing fintech solution. A modern bank aims to be more than just a bank – it could also be a marketplace and empower additional services to ultimately become a service provider to both financial and non-financial ecosystem players.

🟪 Improve user experience. With the application of AI in business, more fintech players are looking for automated solutions that are digital-friendly and help users eliminate the long and complicated processes of application, making transactions, communicating, problem-solving, and much more.

🟪 Enable personal data and financial security. The ultimate global trend in fintech 2021 which is also entering the Kazakhstani fintech market is integrating blockchain solutions to make all transactions transparent and secure as well as decrease the probability of financial fraud cases.

On VentureRocket Eurasia, you can find different innovative startups, including fintech solutions for banks. Explore your opportunities with them by registering here.