Fintech Trends, Opportunities, and Challenges in 2022 and Beyond

The financial technology industry, or fintech, continues to grow as an integral part of how people manage their finances and how financial institutions serve customers.

Major trends impacted the industry in 2021, which could give rise to several opportunities and challenges heading into 2022.

Major Trends Impacting Fintech Companies

A range of trends impacted fintech companies and will continue to affect operations through 2022.

Labor Shortage

The labor shortage makes it difficult to obtain the appropriate head count to facilitate exponential growth in the industry.


Artificial Intelligence (AI)

Fintech apps continue to improve AI features such as more advanced chatbots for customer service, better fraud-prevention tools to verify document authenticity, and advanced features that improve the accuracy and personalization of financial services.

Credit and Bank Access

Companies seek opportunities to provide credit and banking access to underdeveloped nations to facilitate personal credit growth and help build credit history.

Ease of Use

Companies want to provide more ways for people to manage their accounts and money across multiple platforms in one app, like providing a way for gig workers or independent contractors to manage their incomes.

Financial Literacy

Fintech companies seek ways to increase the financial literacy of its customers. New technology can be used as a tool to teach kids earlier on about money transactions, saving, and overall financial education. As the banking industry evolves and becomes increasingly more digital, fintech specialists can grow with the younger generation while utilizing their technology to create awareness for all ages.

Updating Services

Companies need to evolve platform services and capacities to stay on trend with developing customer needs and to differentiate themselves from other fintech providers.

This may require acquisition and consolidation of the industry to fulfil this need in the next two to three years.

Social Responsibility

Sustainability and philanthropic efforts differentiate fintech from legacy financial institutions perceived as more socially responsible entities.


Significant global venture capital investments in fintech companies are growing. Fintech companies are successfully challenging traditional business models of old-line brick and mortar financial institutions, resulting in a convergence of fintech companies in the market.

Many fintech companies also service markets that traditional banks ignore or are unable to service.

Future Opportunities and Challenges

Fintech companies will likely face challenges over the next two to three years as a result of the above trends. There may also be several opportunities to which businesses can look forward.


  • Data analytics. Analyzing user data could provide valuable insight to help predict overall customer satisfaction, measure the success of service offerings, and identify target markets.
  • Tax credits. R&D tax credits are an ongoing development of technology platforms. The California Competes Tax Credit (CCTC) also provides support for entities looking for significant expansion of labor forces in California.
  • Tech-friendly financial institutions. Fintech companies that are more technology focused often partner with financial institutions for transaction processing. Some banks are very fintech-friendly, which provides great opportunity for fintech companies to seek out those relationships. Some traditional brick and mortar financial institutions also seek to explore further fintech opportunities.
  • Investments. Private equity and venture capital firms in fintech companies show strong investment interests, which creates initial public offering (IPO) and special purpose acquisition company (SPAC) opportunities.


  • Transactions. Companies going through a transaction should conduct quality of earnings (QoE) and quality of revenue (QoR) reports. These are key steps in the due diligence process that can facilitate exponential growth in the industry.
  • Cybersecurity. Fintech companies need to take action to minimize data breaches and loss of client data.
  • Taxes. Technology companies are moving toward a permanent remote work force, which creates state and local tax nexus complexities.
  • Regulation and compliance. Previously unregulated fintech companies should be aware of increasing banking regulation and compliance requirements. Regulations come from either regulatory bodies or traditional financial institution partners.

We’re Here to Help

For guidance in overcoming challenges and taking advantage of industry opportunities for your company, contact your Moss Adams professional.

You can also visit our fintech page for more resources and insights.

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