As the CEO of Liberis, I’ve been at the forefront of the FinTech revolution, a space where innovation isn’t just a buzzword—it’s the very currency of our realm. The industry’s landscape is ever-changing, and as we gaze into the horizon of 2024, several burgeoning trends are set to redefine the financial ecosystem.

Gen AI: The driver behind FinTech’s Evolution

The role of Gen AI in FinTech is expected to expand exponentially. Gen AI is no longer a mere strategic edge; it is set to become the central system of FinTech operations. Its capability to learn, reason, and comprehend at a granular level will be critical in areas such as granular compliance checks, assisting sales agents with questions, training agents to close more deals, selecting the right leads for targeting and marketing, and getting one step closer to real-time decision-making for underwriting and affordability checking. By the end of 2024, I anticipate Gen AI to underpin a new wave of FinTech solutions, offering hyper-personalised services on a scale previously unimaginable.

Embedded Finance: The Invisible Thread of Commerce

Embedded finance has steadily woven its way into the fabric of daily transactions, and its continued expansion is set to continue unabated. By 2024, embedded finance will likely be an integral thread in the tapestry of commerce. Purchasing a vehicle, investing in equipment, or upgrading technology will all come with financial solutions woven into the purchase journey itself, eradicating the need for separate banking interactions.

Consumer Preferences: Ecosystems over Institutions

A pivotal shift is underway in finance, with preferences moving from traditional banking institutions to integrated financial services seamlessly embedded within preferred ecosystems. By 2024, this shift is predicted to dominate consumer and Small Business owners’ behaviour, as financial solutions that align with individual lifestyles and consumption habits take precedence. Platforms that can offer financial products within these ecosystems will establish the new standard for engaging with finance.

Next generation of Frictionless Finance

At Liberis, we’re not just passive observers of this revolution; we’re active participants. We’ve spearheaded an industry-leading 4-click embedded business finance journey that exemplifies our commitment to innovation. This pioneering approach seamlessly integrates funding into the purchasing process, allowing business owners to access pre-approved, frictionless finance effortlessly. This transformative solution eliminates the need for explicit finance applications, enabling businesses to secure funding as a natural part of their existing purchasing journey.

In my 2018 article for British Airways Highlife, I envisioned a future where merchants seamlessly access credit without explicit applications, with the entire process embedded into the purchasing experience. Today, we’re proud to have realised this vision five years ahead of schedule.

Looking Ahead: The Roadmap for FinTech

The future we’re shaping at Liberis is one where business owners spend less time navigating financial complexities and more time growing their enterprises. The financial ecosystem of 2024 will be characterised by its dynamism, its seamless integration, and its invisible efficiency. As industry leaders, it’s our prerogative to innovate with intention, anticipate the evolving needs of our customers, and adapt to the ever-changing landscape, ensuring that we’re not just offering products but enabling progress.

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Ready to embrace the FinTech future with us? If our vision excites you or if you have questions about what these trends mean for your business, don’t hesitate to reach out. Simply fill out the form below to start a conversation with our team.