7 Big Ideas that will change finance in 2024

The financial sector is constantly evolving, driven by technological advancements, changing consumer preferences, and emerging regulatory trends. Here are seven big ideas that are likely to shape the world of finance in 2024

Embedded finance is the integration of financial services into non-financial applications and platforms. This trend is blurring the lines between traditional financial institutions and other industries, such as e-commerce, retail, and telecommunications. Embedded finance is making it easier for consumers to access financial services seamlessly, without having to go to a bank or other financial institution.

The Rise of Embedded Finance

Investing is becoming increasingly accessible to a wider range of people, thanks to the rise of fractional investing, robo-advisors, and other digital investment platforms. These platforms are making it easier for people to invest with small amounts of money and without the need for professional financial advice.

The Democratization of Investing

Open banking is the practice of sharing financial data with third-party providers with the consent of the customer. This trend is enabling the development of new and innovative financial products and services, such as personal finance management tools and alternative lending options.

The Continued Growth of Open Banking

AI is already being used in a variety of ways in the financial sector, such as fraud detection, risk assessment, and customer service. In 2024, we can expect to see even more innovative applications of AI, such as AI-powered financial advisors and AI-driven investment strategies.

The Increased Use of Artificial Intelligence (AI)

DeFi is a new financial system that is built on blockchain technology. DeFi applications allow users to borrow, lend, and trade financial assets without the need for intermediaries, such as banks or brokerages. DeFi is still in its early stages of development, but it has the potential to revolutionize the financial sector.

The Rise of Decentralized Finance (DeFi)

There is a growing demand for sustainable financial products and services, as investors and consumers become more aware of the environmental and social impact of their investment decisions. In 2024, we can expect to see more banks, asset managers, and other financial institutions offering sustainable investment products.

The Focus on Sustainable Finance

Cybersecurity is a critical issue for the financial sector, as financial institutions are prime targets for cyberattacks. In 2024, we can expect to see financial institutions investing heavily in cybersecurity measures to protect their data and their customers' money.

The Increased Importance of Cybersecurity

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