Fintech Trends

for 2022

Building for Resiliency and Security

Fintech Trends for 2022 1

About us Purpose of this report
Erlang Solutions builds fintech systems that are
This report brings together industry research
highly resilient and scalable. We use battle-tested
and expert views from the fintech world to share
technologies to design backend infrastructure to
knowledge and provide inspiration on key technology
enable our clients’ innovation and creativity in the
topics that are set to impact financial services in
financial services industry.
2022 and beyond. It is produced using experiences of
working with clients in financial services from around
We prototype, build, monitor and maintain solutions the world and by interviewing and collaborating with
used for payment systems, backend services, some of the most influential subject matter experts
digital lending, blockchain and more for companies in the industry. We thank all that have taken part for
including Klarna, Vocalink (Mastercard), Visa, Danske their time and thoughtful contributions.
Bank and Bloomberg.
Forewords
We look forward to continuing to apply our deep domain knowledge
and expertise in building highly scalable, fault-tolerant systems in
the financial services space. Our aim is to provide the infrastructure
that allows fintech firms to do what they do best – innovate and
improve people's lives through better financial products. All of this
without being taken by surprise when the products and services
they provide surge in popularity or come under strain for reasons
no one could have imagined or predicted.
Francesco Cesarini
Founder and Technical Director
Erlang Solutions

Fifty or so years ago, the world did not rely on computers. A small
number were emerging from companies such as IBM, DEC, HP,
Olivetti and others, but very few compared to today — although
already more than IBM President Thomas J. Watson’s famous
prediction that “there is a world market for about five computers”.
It was not until the 1970s that an IBM mainframe was first used
for air traffic control — one of the first ‘mission-critical’ uses of a
computer where if the system failed, then disaster would almost
certainly follow. Philip Harrison
CCO for Fintech
We now rely on computers for many things which we take for Trifork Group
granted, including banking, payments, commerce, communications
and messaging — 100 billion messages are sent via WhatsApp
daily. For services in these areas, we have become conditioned to
expect always-on availability. So when something fails — as with
WhatsApp for 6 hours back in October — there are major negative
headlines.

The explanation given by Facebook (who own WhatsApp) was that

“configuration changes on the backbone routers that coordinate
network traffic between our data centres caused issues that
interrupted communications”. The problem was not in the hardware
or software, it was caused by human error. It wasn’t something
defective in the system that caused the outage — WhatsApp is
written in Erlang, the programming language designed for use in
mission-critical, high-volume, super-resilient applications.

The world today depends upon systems that are reliable, high
performance and crash-proof, and Erlang Solutions has been
building these types of systems for clients for more than 20 years
in fintech and other industries. Here we bring you a report that
describes some of the technologies needed to be competitive,
agile and innovative in this new age of human-centric technology.
Table of Contents

EXECUTIVE SUMMARY 1

KEY TAKEAWAYS FROM THIS REPORT 1

INTRODUCTION 2

1. THE MACRO ENVIRONMENT 3

Changing Times

2. EMERGING TECH TRENDS 8

Game changing technologies

3. TECH STRATEGY TO SUCCEED AND WIN 17

Jobs to be done and building the tech team

CONCLUSION 32

ERLANG SOLUTIONS | WHAT WE DO 33

ACKNOWLEDGEMENTS 35
Executive Summary
When it comes to financial technology, or fintech, the the pandemic has shown that using technologies that
pace of change continues to accelerate. Financial are proven and built to cope with the unpredictability
services institutions are looking to their tech teams of the modern world is vitally important.
to drive innovation to protect market share and
explore new opportunities. Against a background of Successful financial services firms display a new
disruptive macroeconomic trends and potentially way of working that is multi-disciplinary and mission-
revolutionary emerging technology, business focused, pulling in the same direction to achieve value
leaders must ensure they make the right strategic for end-users. Customer-centricity is becoming a key
decisions for future success. focus, and millennials and Generation Z will play a
big part in the shape of things to come. To be part of
The issue of modernising legacy systems remains this exciting future, business leaders in the industry
of foremost concern for incumbents and is an must prioritise their tech strategy and place software
area where using outsourced resources needs to engineering at the heart of business planning.
be especially well managed. The stress placed on
systems caused by spikes in online commerce since

Key Takeaways
We see these as the five strategic must-haves for fintech success for 2022 and beyond:

1 2 3
Leaders with a greater Software System security, fault
understanding of technology engineering tolerance and resilience as
at the core of priorities
business strategy

4 5
Choice of technologies that are battle- Access to the talent and skills necessary
tested and, if open source, supported by to execute and win
a strong community and robust ecosystem

Fintech Trends for 2022 1

Introduction
This report combines perspectives from traditional services (FS) are heading are contradictory, and it
finance, fintech founders, investors, technologists, is that diversity of opinion that makes fintech such
developers and system architects to review the latest an exciting field. In this paper, we set out to capture
innovations in the industry and look to the future. As you the real-world implications of these technological
will discover, some expert views as to where financial advances and provide a glimpse of what is to come.

This report consists of three main sections:

1. The macro environment

2. Emerging tech trends

3. Tech strategy to succeed and win

First, we look at the state of play in global financial services and the macro factors driving change. Next, we
consider some of the main technology trends that impact organisations in the sector. Finally, we look at the
immediate and long-term tech challenges being faced and the principles of software engineering being used
to achieve success.

You’re in the right place if:

You’re a technologist trying to add context to the You’re a non-technical business leader
intricacies, challenges and opportunities of financial seeking to better understand the complexities
technology for your senior management team. behind successful fintech systems.

Fintech Trends for 2022 2

The Macro Environment

01 Fintech Trends for 2022 3

The Macro Environment
Changing Times for Financial Services
In some ways, the general outlook is not particularly bright. We are living through a period of skyrocketing
public debt, with inflation running high and an expected hike in interest rates that will hurt many. In the
Andreesen Horowtiz paper ‘How to Win the Future’, the picture is concerning when it comes to waning trust
in traditional core institutions with none seen as being both competent and ethical.

Dimensions of trust ETHICAL

35 No institution seen as both
(Competence score, competent and ethical

not ethical score)

NGOs (-4,12)

LESS COMPETENT -50 50 COMPETENT

Business (14, -2)
Media (-17,-7)

Government (-40,-19)

-35
Source: a16z: How to Win the Future UNETHICAL

For many, this lack of trust has been simmering In a world advancing at such a pace from a
since the 2008 financial crisis. The end result is that technological perspective, politically and culturally,
individuals are seeking more from traditional power there is paradoxical movement in reverse gear in
structures, including the financial services industry. some areas. If this reversal came to be applied to
For most millennials and members of Gen Z, the technology and financial services, what might things
traditional paths to life’s primary goals have become look like?
obfuscated, and they are looking for something
more dynamic when it comes to how they manage We spoke to the author and speaker, Chris Skinner,
their money. one of the most knowledgeable minds in the industry
and someone not afraid to offer a contrarian view of
These influential groups are demanding significantly things. He warned of a “Big Regression” to possibly
more from banks and financial products. Following come over the next few years: “my prediction is that
the behavioural changes brought on by the pandemic, there will be a major shift away from things people
they are not alone in this regard. don’t know and understand and a reversal to things
they do know and understand.” He points to this
as apparent in China and now happening in Europe
and the US, citing stalling peer-to-peer lending and
crowdfunding underperformance as evidence.

“For me, we have to simplify

technology, as in making
it far more intuitive.” Chris Skinner
The Finanser
author and speaker

Fintech Trends for 2022 4

With faith in centralised institutions of power and
the political establishment diminished, belief in
the power of technology for good and in open,
democratic, decentralised and distributed models
are likely alternatives.

Dr. Jane Thomason is a thought leader in tech

innovation, fintech and blockchain for social impact
— she sees the opportunity in tech around reaching
excluded groups and the underbanked: “Mobile
technology, at almost 70% of the world’s population,
is creating an unprecedented opportunity for the
bottom billion to connect to the economy.” Add
into this mix post-pandemic fallout, and while it is
somewhat of a cliché to describe what has happened
to how we spend and interact with financial products
as ‘unprecedented’, it is abundantly clear that things
will not return to business as usual.

“We are at a point in time with an

opportunity to take advantage of
the (tech) tools at our disposal
to develop and deploy them for
the public good. The potential
benefit for individuals and society,
economic, social, psychological, is
immense but the Government and
regulators need to keep up with the Lord Chris Holmes
pace of change.” of Richmond MBE

One of the most striking trends since the beginning

“Payments are
of 2020 has been the cross-generational shift to
the connective
digital channels driving demand for seamless
fulfilment and instant gratification. The Capgemini
tissue for the
World Payments Report survey found that before new economy
the pandemic, only 24% of the respondents had and that’s why
e-commerce accounting for more than half of their we believe that Jeremy K. Balkin,
monthly spending. During the pandemic, this share payments are Global Head of Innovation
increased to 47% of respondents and has stayed at & Corporate Development,
eating the world.”
46% since. J.P. Morgan Payments

Fintech Trends for 2022 5

Retail Ecommerce Sales Worldwide, 2019–2025 $7.385

$6.773

$6.169

$5.545

$4.921

$4.213

$3.351 25.7%
24.5%
23.4%
22.3%
20.5% 21.0%
19.6%

17.8%
16.8%
13.8%
12.7%
11.2%
9.8% 9.0%

2019 2020 2021 2022 2023 2024 2025

Retail Ecommerce Sales % change % of total retail sales

Source: eMarketer, May 2021

We spoke with Scott Abrahams, SVP

Dimitar Dimitrov is Director of
Business Development and Fintech
Technology at OpenPayd, the global
at Mastercard, about how technology
payments and banking-as-a-service
is fuelling optimised experiences
company, he points to Open Banking
for consumers: “5G’s high-speed,
as being key to customer-centricity:
always-on connections will mean
“As  consumers, we’ve been able
they’re provided with more choice,
to initiate payments through Open
information and personalised content
Banking for some time — similar to
both before, during and after a
paying for an Uber without entering
transaction. The level of connectivity
card details or using cash. But
it offers means that machines, devices
(previously) it was a ‘nice-to-have’
and even objects will be able to
feature, not core functionality. In 2020
actively participate in transactions.
that changed.”
Choice, flexibility and security will
become non-negotiable.”

“With data, AI and applied analytics, financial

institutions will offer value-added features in terms of
customers’ needs and preferences. Personalized and
contextual communication will positively impact both
cost of engagement and financial results. Proactive and
Jim Marous, dynamic recommendations will also be delivered, at
Global Speaker, Podcast scale and in real-time.”
Host and Co-Publisher
The Financial Brand

Fintech Trends for 2022 6

The major new opportunity in payments sits “We believe traditional onboarding
around digital identity verification as a facilitator for flows over time will die and the
expanding e-commerce volumes. Digital identity process of storing, handling, and
(Know-Your-Customer or KYC) solutions and fraud
updating data will be decentralised
prevention has never been more important than in
and control will be given back to
this new environment where verification needs to
be especially robust and flexible for remote client the consumer. With a single-sign on
onboarding. solution such as ComplyTeq, you
can share data with whom you deem
We are seeing multiple players across the market appropriate, agree to the terms, know
trying to create smooth onboarding journeys with when it’s shared, what’s shared, how
simple questions, digital IDs and biometric scans to
it’s stored and for how long.”
increase conversion rates and simplify risk scoring
models. Within that, there are two trajectories of
how to handle compliance. One is led by the neo
and challenger banks that build everything in-house
as a full-service bank. The other trajectory is one
where compliance and regulatory tech are being
productised and fintechs are looking for vendors to
serve non-core parts of their business. Eske Gerup
Co-founder ComplyTeq
Mastercard is an example of a traditional FS player
paying close attention to what the future will look like.
Abrahams added: “In 2021, we’ve seen an uptick in
popularity of payment methods that offer exactly this
(customer-centricity), including Buy Now Pay Later
(BNPL), which we launched across our network in
September to meet the growing demand for flexible,
digital-first payment options.”

As Dimitrov says, recent experiences have

“fundamentally changed the way consumers engage
with digital services, and the functionality they
expect from those services.” There is no going back
to the way things used to be done, and those that
cannot adapt will possibly become obsolete.

“Most of us are already living digital-first lives, and this has

been dramatically accelerated by ongoing global events.
The foundation is already here, and in 2022 we will move
closer towards a digital only existence when it comes to
how we make and receive payments.”
Scott Abrahams
SVP Business Development
and Fintech Mastercard

Fintech Trends for 2022 7

Emerging Tech Trends

02 Fintech Trends for 2022 8

Emerging Tech Trends
Game Changing Technologies
Web 3.0 is an all-encompassing term that covers To authentically make an impact in this space is
cryptocurrencies, smart contract computing, not easy and requires some of the brightest in the
decentralised hardware, IoT, Non-Fungible Tokens, developer community to continue to innovate and
DeFi and maybe the most buzzwordy of them all — collaborate to keep pushing the boundaries — the
‘the Metaverse’. Decentralisation is key to what Web technical problems being tackled are far from easy. Dr
3.0 is about, along with open source transparency Natalia Chechina is a Consultant Developer at Erlang
and distributed computing. The impact of this Solutions, and as a specialist in fintech solutions and
internet economy evolution is an unquestionable fault-tolerance at scale, she sees the distribution
future reality. Just look at blockchain based NFTs, of a system as: “a powerful approach that enables
where a recent boom in sales has catapulted the systems to scale and continue delivering services
nascent market value to $7 billion, according to while parts of the system fail.” This is a significant
JPMorgan. concept, especially in the financial services space.

“Think carefully if a distributed

system is right for your use case.
The reason is that distribution is
complex and easily misleads people
new to the concept, as it may
Dr Natalia Chechina seem straightforward and easily
Consultant Developer implemented.”
Erlang Solutions.

“A blockchain is a distributed
database that is shared among the
nodes of a computer network. As
a database, a blockchain stores
information electronically in digital
format. The innovation with a
blockchain is that it guarantees the
fidelity and security of a record of
data and generates trust without the
need for a trusted third party.”

Investopedia

Fintech Trends for 2022 9

“The arrival of blockchain technology has brought
unprecedented disruption to financial services.
I believe its application can account for far more than just
transparent transactions. It can pave the way for a fully
democratized financial landscape, providing a more
seamless and effective alternative to banking, built around
the ideas of fairness and decentralization,
Priya Guliani
making it possible for individuals to manage their wealth UK President for Government
without the middlemen or major institutions themselves.” Blockchain Association (GBA)

Blockchain’s potential in modern FS

The spotlight is growing on distributed ledger The potential is now moving mainstream, and
technology, or blockchain, along with artificial ideas of ownership and provenance are changing.
intelligence (AI) and the internet of things (IoT), as Priya Guliani is the UK President for Government
we look to the recovery phase of the pandemic. Blockchain Association (GBA): “It has been a game-
In financial services, blockchain technology can changing force in scenarios where trading occurs,
improve trust and transparency while lowering costs where trust is at a premium, and where people need
and reducing transaction times. We spoke to Lord protection from identity theft — including the public
Chris Holmes MBE who is a leading voice in the UK sector, retail, healthcare and financial services.” We
government on blockchain, where, in his words, he also caught up with Genevieve Leveille, Principal
has been “banging the drum for years”, such as in Founder and CEO at AgriLedger and a leading
his 2017 report “Distributed Ledger Technology global voice in the space, who outlines blockchain’s
for public good: leadership, collaboration and potential to increase financial inclusion: “Another
innovation.” While he describes the UK Government’s benefit will be the data that is available that can
stance on the technology as “heartening”, he does support the delivery of more efficient services. As
note “we need to move from proof of concept into the information will tend to be more resistant to
application” as we are “still in need of leadership, fraudulent activities, there would be a possibility to
collaboration and innovation to ensure that we start delivering outcomes to parts of society that
harness this technology for public good.” could not be served previously.”

“We can now envision a paradigm shift where individuals do

not need to have deposits sitting at the bank but can use the
rails offered by those institutions to get access to financial
services and payments. The great advantage of this new
process will be the ability to bring online legions of individuals
Genevieve Leveille
in regions such as Africa and Southeast Asia.”
Principal Founder and
CEO at AgriLedger

Fintech Trends for 2022 10

We spoke with Lex Sokolin, Global Fintech Co-Head
and Head Economist at ConsenSys the Ethereum
software company: “Blockchain infrastructure
is now being used for meaningful smart contract
computation and value transfer and exchange
across the economy.”

Of course, caution does remain, with questions

around sustainability, regulation, scalability and
interoperability, but overall the signs of forward
momentum are encouraging. Consortia and
ecosystems are springing up to improve processes
and supply chain transparency.

We spoke with Keith Bear, Fellow at University of

Cambridge’s Centre for Alternative Finance and ex
IBM financial markets leader who sees the ecosystem
now as a ‘network of networks’ he adds: “Networks
built on one value proposition interconnect with
others built on a different, complementary value
proposition. In this way Contour (trade finance)
links with the HK-based Global Shiping Business
Network (GSBN), Tradelens (shipping) explores links
with We.Trade (SME trade finance) and Minehub and
Contour partner to drive digitalisation of metals.”

A lack of in-house expertise with blockchain

technologies and the general complexities of the
problems being solved are factors in many of the
client projects in which our expert consultants are
required to assist.

“Digitalizing ownership rights, in a process known as

‘tokenization’,” is one of the most exciting developments I
see right now and could reshape the investing landscape.
Imagine an integrated ecosystem in financial markets,
where every real-world asset is also represented by a
Panagiotis Kriaris digital unit or token.”
Head of Business
Development at Unzer

Fintech Trends for 2022 11

“If Blockchain is deployed at scale it can
help alleviate many challenges faced by
the poor and marginalised so they can
access essential services or finance – this
is the space to watch!”
Dr. Jane Thomason
Thought leader fintech
and blockchain for
social impact

“In keeping with Amara’s law which states

that we tend to overestimate the impact
of a technology in the short term and
underestimate it in the long term
I’m optimistic for blockchain to move
Lord Chris Holmes
beyond the hype to real practical use cases
of Richmond MBE
and significant investment, particularly
in financial services and supply chain
management.”

“Increasing interoperability is a major

indicator of the maturity of the individual
blockchain networks.”

Keith Bear
Fellow at University of Cambridge’s
Centre for Alternative Finance

“Governments are digitizing payment

rails with CBDCs, banks are transforming
capital markets, and exchange and clearing
businesses are rethinking settlement and
custody for digital assets. The integration
Lex Sokolin
of blockchain as a core technology is well
Global Fintech
underway.” Co-Head Consensys

Fintech Trends for 2022 12

Digital currency adoption
author of of “Cashless - China’s Digital Currency
No discussion of blockchain or Web 3.0 can ignore
Revolution”, who is well placed to observe first hand
the growing prominence of digital currencies
how CBDCs will take off: “Digital payment is already
that are entering a critical new phase. The rise of
part of Chinese people’s lives, and revised the status
cryptocurrencies and blockchain technology has
of banks to “dumb pipes” — simple conduits rather
brought about new possibilities in the use of money
than revered institutional gatekeepers — a serious
as well as exciting new forms of digital assets and
cause for concern in the industry.”
markets. Aside from cryptocurrency and stablecoins,
central bank issued digital currencies or CBDCs are
Despite the growing calls for cashless societies,
one of the most interesting innovations in this area.
CBDCs aren’t necessarily going to be a replacement
They are seen as expediting and increasing the
for cash just yet. Although the market is far too nascent
security of payments between banks, institutions
to confidently predict outcomes, those involved in the
and individuals.
payments ecosystem should take steps to position
themselves for the inevitable changes on the horizon.
We spoke to Richard Truin, the best-selling fintech

“Ready or not, CBDCs are coming. With China and India

launching CBDCs a full 37% of the world’s population
will have access to CBDCs in the next 3 years. This is a
fundamental change of paradigm for which Western banks
seem woefully unprepared.”
Richard Turrin
best-selling fintech author

“The proliferation of privately issued digital currencies,

the growth of e-commerce, and the pandemic have created
tailwinds that are driving government-led experiments in
CBDCs. By addressing the systemic risks and inefficiencies
across the global financial eco-system, CBDCs could usher
Robert Courtneidge in a new era of efficiency, enhanced competition, financial
payments, digital assets stability, security and public trust.”
and e-money expert

Fintech Trends for 2022 13

 “Most successful financial institutions
Artificial intelligence in fintech
have made AI a key strategic goal, but
Another new currency making waves in financial less than 10% of firms overall are well
services is the currency of data. Michael Berns
prepared for it. The world urgently
is Director for AI & FinTech at PwC and says:
needs the deep insights of AI to
“Data scientists are at the forefront of innovation
and scaling.” tackle complex problems like climate
change.”
Artificial Intelligence (AI) and machine learning have
the potential to advance financial services more than
any other emerging technology. With AI companies
can better mitigate risk, optimise portfolios, combat
financial crime, deliver personalised customer
experiences and more. The key strength of AI is that
it allows companies to analyse large blocks of data Michael Berns
and make genuinely informed decisions. Director for AI & FinTech
PwC

We spoke with Eran Stiller, Lead Software Architect In the age of the machine, Zillow serves as an example
at badook, about how the massive flows of valuable of where human critical thinking still has the edge.
data work in organisations. He explained that the Jim Marous, global speaker, podcast host and co-
area has some serious potential pitfalls: “These publisher at The Financial Brand describes how people
algorithms rely on data. If the data is good, they are still needed even around advanced automation:
can build a usable model. But unfortunately, our “data, intelligence and analytics will be used to identify
data changes over time, and its quality decreases. opportunities, facilitate innovation, refine decisions
Errors in data collection occur, data pipelines can and support contextual communications. This will not
inadvertently wreak havoc, and assumptions that be done devoid of humans, but will be enhanced by
we previously had change over time and might no humans and will enhance humans.”
longer be valid, causing potentially catastrophic
business results.” He highlighted the story of Zillow, Marous continues on how AI is ultimately a tool that
the US real-estate company that wrote down 38% is linked to improving the quality of people’s lives: “AI
or $10 billion in a week. The problem was caused by and applied analytics will facilitate customer access
flawed automated investments into property based to financial tools, advice, and embedded solutions
on algorithms that did not consider changes in the that can improve trust and differentiate a brand by
real world environment. empowering the customer to partner on their financial
wellness journey. This level of sharing will also assist
in protecting the customers’ privacy and security.”

“There has never been a time when the use of data, AI and applied
analytics has been more important. They will illustrate what’s
happening across the organisation, why it happened and what
will happen next. This will enable employees actions to improve
back-office operations, reduce costs, save time, improve customer
Jim Marous
service, loyalty and profits.”
Global Speaker
Co-Publisher
The Financial Brand

Fintech Trends for 2022 14

 “A crucial part of regulating AI will be ensuring that the data
used to derive the algorithm is valid. Consequently, I predict
that data quality and reliability will be a topic of growing
concern with most, if not all, tech companies. Like we test our
code, we should test and validate our data and ensure that it
Eran Stiller behaves as we expect it to. If we don’t do that, we might wake up
Lead Software Architect one morning and base our business strategy on corrupt forecasts,
badook
or even worse - make catastrophic fully-automated financial
decisions that could cost us billions. I’m sure that none of us
wants to be in that position.”

“There’s a great deal of continued debate about Artificial

Intelligence, debating if it’s real, if it will really change
the world, put people out of work, etc. But in 250 years
whenever we’ve had a leap in technological capability we’ve
always argued if, and every single time the technology wins,
Brett King disrupting industries and economies. It’s time we stopped
Author of “The Rise in debating IF AI is going to meaningfully change our societies
Technosocialism’
and start planning how we introduce AI effectively and
positively. Starting with global regulation on AI ethics.”

Embedded finance’s continued growth

It took a while, but banking without banks is becoming a offering financial services. For example, Apple in
reality through the phenomenon of embedded finance the US is offering its own credit card, Tesla is offering
— also known as contextual finance or banking. Digital insurance, and Shopify is offering business banking.”
natives’ ability to embed financial services into their
platforms has accelerated the drift of customers from Paolo Sironi is Global Research Leader for Banking
incumbents who no longer necessarily know their at IBM Consulting and presents a powerful argument
customers better than the competition. in his new book “Banks and Fintech on Platform
Economies” on the future of the industry, with
We spoke with Dr. Efi Pylarinou, the influential global embedded finance (Contextual Banking) being
fintech commentator, on the shape of embedded central to the strategy along with trusted advisory
finance: ”It has taken two forms in the market. One (Conscious Banking). He explained to us that the
through existing financial services providers growing power of such new business models will be in how
their stack of services via fintech Saas providers. they “usher in a new era of hyper-personalisation and
The other form is non-financial companies now hyper-contextualisation.”

Bill Gates said in 1994 “Banking

is necessary, banks are not.”

Fintech Trends for 2022 15

This frictionless nature of digital processes, when This is not an exclusive segment — just as fintech
compared to the old way of interacting with methods challengers have done, incumbents can partner
of finance, has now been experienced by a greater with and embed themselves in the platforms and
and more diverse part of society. Customers can ecosystems challenging them. The goal here is
now access financial products in a growing amount to benefit from the platforms’ and ecosystems’
of settings and environments on their own terms. seamless digital experiences, broad customer base
Meanwhile, brands have realised they benefit from and access to contextual data so as to maintain their
higher customer stickiness, more touchpoints position.
and additional revenue streams while also gaining
valuable behavioural data to be fed back into the
decision-making loop.

“Ultimately, it is the
opportunity to eliminate
the friction in user
interactions that makes
banking contextualised
Paolo Sironi to become embedded
Banking at IBM Consulting and unlock ‘new’ value.”
and Bestselling Author

“We are now seeing

the embedded finance
trend picking up, which
wasn’t the case three or
four years ago. Financial
services are becoming Dr. Efi Pylarinou
increasingly distributed Global Influencer, Fintech
& Disruptive Tech
and Embedded banking
is one of the enablers.”

Fintech Trends for 2022 16

Tech Strategy To Succeed And Win

03 Fintech Trends for 2022 17

Fintech Trends for 2022 18
Technology as an Enabler
of Business Strategy

Time and again, we witness similar issues cropping test when dealing with the spike in online activity at
up in clients’ businesses, from system design right the outset of the pandemic, as the backends are still
through to testing, deployment, infrastructure, scaling running on legacy infrastructure.
and reliability. Of course, no two projects are the same
and we adopt a bespoke approach depending on
the problems to be solved, but in this section, we will “Every company is now
cover some guiding principles that will help you and
a software company”
your team make better technology decisions.
Watts S. Humphrey

Whether in financial services or elsewhere, any

company lacking a strong technology strategy will
struggle to succeed. Banks are no longer standalone Back in the early stages of the pandemic, the US stock
entities with a century’s old monopoly over things. trading app Robinhood experienced three outages in a
Much like in telecoms, there has been massive week as stock market volatility peaked. The problems
disruption driven by technological advances, and led to this statement being published by Baiju Bhatt
incumbents must look at themselves as part of a and Vlad Tenev, Co-Founders and Co-CEOs: “Multiple
larger FS ecosystem. factors contributed to the unprecedented load that
ultimately led to the outages. The factors included,
With technology as the enabler of business strategy, among others, highly volatile and historic market
the lines between tech and business functions conditions; record volume; and record account sign-
are increasingly blurred. So 20 years on, Watts S. ups. Our team is continuing to work to improve the
Humphrey (the father of software quality) is right resilience of our infrastructure to meet the heightened
— the software solutions created by a company load we have been experiencing.” More recently, Bank
do determine how it is run. Many financial services of America Corp.’s online banking platform went down
incumbents have been attempting to keep pace for several hours, leaving thousands of customers
with fintech firms through mostly superficial locked out of their accounts. Digital engagement
improvements focused on the frontend customer growth and more users of BofA’s app and website
experience. This short-term strategy was put to the are believed to be the root of the problem.

Fintech Trends for 2022 19

Financial Services Financial Services

Telecommunications
spend heavily on
Education and social services
IT
Professional Services

Healthcare

Insurance

Government

Media, entertainment, leisure

Industrial products

Retail trade

Wholesale trade
0 2 4 6

Total IT spending as % of revenues or gross output

Source: Forrest Research Inc., DB Research

IT spend is significantly higher as

a percentage of total revenue in
financial services in comparison
to other industries.

Financial services incumbents have various core

legacy systems written in different programming “I expect there to be more of a
languages with other services being added in to start-small transformation approach.
solve emerging problems. This, when combined with Banks can move forward on their
multiple mergers and acquisitions, has led to a state
journey of digital transformation by
of overlapping systems across different operational
investing in parallel technologies that
workflows which are complex and fragmented and
pre-date the digital era. sit alongside their existing stack but
connect to their core in neuralgic
The modernisation of legacy infrastructure is one and necessary points. These parallel
of the most vexing problems in the industry. We infrastructure projects are lower risk,
spoke to Nikolai Hack, Head of Strategy at Nucoro, lower cost and allow banks to launch
the leading digital wealth platform, who work with
a new proposition in less time and,
incumbents to offer digital propositions. He said;
over time, turn off legacy systems:
“For a while now, there has been an acceptance that
moving a bank’s legacy systems to a new core is
transforming bit by bit.”
the only route to achieve innovation via end-to-end
digitalisation. However, between multi-year long core
transformation projects and a phased approach,
more players will realise that oftentimes smaller is
more beautiful and can outweigh waiting for the big
bang project that solves all problems forever — but
then doesn’t.” Nikolai Hack
Head of Strategy at Nucoro

Fintech Trends for 2022 20

With incumbents’ resulting IT architecture being “RabbitMQ, EMQx and Kafka are
expensive to run and maintain, but also inflexible examples of technologies that can
and difficult to change, it is first advisable to fully open up commercial opportunities
evaluate what the real goal is before committing to
and innovation while reducing
major decisions in this area.
risk. The point is to enable
We spoke to Adrian Mountstephens from the transition to the new and make
Payments & Banking team at Equinix on this topic: use of innovations as they become
“Companies are under pressure to modernise. This mainstream through leveraging
often leads to conversations that jump straight to the middleware and messaging
technology — cloud, SaaS, Kubernetes, containers, technology.”
all the sexy stuff. But unpacking the pressure to
modernise should start with a conversation around
what is really driving that pressure, it’s coming from
the need for competitive advantage”.

John Samuel
Head of Middleware Technologies
Erlang Solutions

“The strain was felt by some

companies more than others during A common problem of legacy is the independent
lockdowns. From outages in online black box applications that are not really understood
by anyone. Introducing gradual decoupling and
banking, stock brokerages and
adding modularity to system architecture is possible
e-commerce sites, forcing you to
although not easy. In this scenario, the use of a
virtually queue for hours before you message bus or message queue can handily solve
were allowed to shop. With these the problem of getting these different applications
lessons learned from the pandemic, to talk to each other reliably. For instance, when a
it must now be the case that best message broker such as the Erlang-based RabbitMQ
practice system architecture and is used to solve this problem, you are able to isolate
and decouple components, which is very important
software engineering must prioritise
when dealing with fintech monoliths.
fault-tolerance and reliability. It was
a strange feeling, as we had been
advocating these best practices for
decades, first in the telecoms space,
and later in fintech.”

Francesco Cesarini
Founder and Technical Director
Erlang Solutions

Fintech Trends for 2022 21

“The path to modernisation is not straightforward, and
this is where CIO/CTOs are losing sleep. Digital leaders
are tasked with how to plot a path to rapid product
development by embracing cloud native approaches
like Kubernetes and containers which allow for
portable application environments that can be run in Adrian
any cloud IaaS environment. This path can be paved Mountstephens
with danger, risk, and ultimately failure. Honestly, I Growing Payments
& Banking Ecosystems
don’t envy the challenges faced by the CIOs of legacy at Equinix
financial institutions!”

“Programming consists of overcoming two things:

accidental difficulties, things which are difficult
because you happen to be using inadequate
programming tools, and things which are actually
difficult, which no programming tool or language
is going to solve.”
Joel Spolsky

Fintech Trends for 2022 22

The human element
Just as we have already spoken in some detail Wherever possible, governance and planning should
about customer-centricity being a key driving be lightweight with a value-based prioritisation. This
force in shaping the evolution of financial services creates the environment for autonomous teams to
and fintech, the human element of your internal make critical decentralised decisions. Agile working
systems is equally as important. The amount of IT means communicating and responding more
employees actively writing code is drastically higher effectively, comprehensively and faster within teams,
at successful incumbents. Therefore, cultivating a with a focused multi-functional approach to problem
technology literate workforce has never been of solving.
such value in organisations as it is today.

Part of this is deciding how to create an engineering The financial industry has adopted agile working
mindset at your organisation to foster technology- methods in order to innovate and iterate faster, be
driven thinking. This means adopting a solutions more responsive to changing market dynamics,
focused and scientific approach to problems and regulatory reform and advancing technology.
encouraging the agile mentality of trial and error, and Márton Veres is a Technical Project Manager at
understanding that failure is actually progress. When Erlang Solutions and has substantial experience in
it comes to shipping new products and features the areas of project management and consultancy
in this dynamic market fear of failure needs to be in telecoms and financial services, and says that the
eliminated throughout the organisation. agile approach is: “essential for building trust within
the organisation.”

To help communication, working with frameworks

such as design thinking can be of great use. Design
thinking skills help companies design intelligent
“Agile development is delivering services and solutions that customers will value
real business value in shorter and use. This can help avoid the situation where a
cycles where the whole team seemingly brilliant product idea makes it all the way
becomes more engaged with the to production before anyone realises that it does not
new product or feature which builds add any value for the end-user. Márton Veres shares:
“with the use of design thinking tools, we are able to
trust. A small team, squad, tribe
identify the customer needs better and investigate
- you name it - will sit in the same
early how the market responds to our solutions
boat, rowing in the same direction; without investing too much into them unnecessarily.”
adding value to the customers.”

Márton Veres
Technical Project
Manager
Erlang Solutions

Fintech Trends for 2022 23

 “Culture eats strategy for breakfast.”

Peter Drucker, the well known management consultant,

once wrote, “Culture eats strategy for breakfast.” This
implies that, in the end, the culture of your company
determines its success. So, it is vital that tech teams
do not lose the human factor in their working dynamic.

Traditional banks don’t always hire for culture, and this

flaw in the hiring process can result in a lack of diversity
and quality in talent. This is partly due to continually
looking to recruit from the same channels or talent
pools as they always have. Genevieve Leveille is a
leading voice in the global tech and entrepreneurship
space: “To build systems with diversity in their core, it
is important to build teams with different experiences
and backgrounds. We can no longer assume that a
solution built for a European society will perfectly fit
the need of an African and/or an Asian society.”

“For the last 20 years, there have been

several initiatives towards achieving
greater Diversity and Inclusion. The
challenges I would put against these
efforts are that they tend to be more
about indoctrination and assimilation
rather than acceptance and embrace.
We hear a lot about getting women into
the technology field, but there are no
real efforts to understand how they can
balance their family needs against the
demands of their work. This results in
many choosing to not participate as
often the failure to address the demands
of their employers results in negatives
both financially and mentally.”

Genevieve Leveille
Principal Founder
and CEO AgriLedger

Fintech Trends for 2022 24

 The Ethnic Diversity in UK Fintech report by Tech
Nation found that while the participation in UK fintech
of individuals from underrepresented backgrounds has
increased between 2011 and 2021 from 12% to 20%,
this has not been distributed equally across different
communities. The number of individuals from an Asian
background has increased from 7.5% to 12.2%, but
the proportion of Black people working in fintech has
remained static, at 3.1%.

There is also an issue when it comes to gender

representation in the industry. We spoke to Lloyd
Wahed, CEO and founder of Mana Search, the UK based
fintech recruiters, who points to the problem existing
even in the next generation of tech: “...the national
average is 18% for female computing undergraduates
across the UK, and the leading universities, for example,
Imperial College London Department of Computing,
had only a 24.5% female cohort in 2018/2019.”

Leveille explains the importance of diversity being

placed at the centre of organisational strategy:
“To deliver unbiased solutions, it is imperative that
organisations onboard teams that are diverse and
create more inclusive environments. This is an exercise
that cannot just be done in words but needs to have
careful planning and continuous engagement. The
diversity cannot be only at the operational levels but
must also be in place in the management so that shared
purpose can be at all levels of the organisations.”

More than half (54%) of

all employees will require “There is an ongoing dispute about
significant reskilling by 2022. the lack of diversity in tech, but
World Economic Forum we need to understand that it’s
impossible to acquire diverse talents
from a non-diverse pool. We suspect
that the change requires future
initiatives across all institutional
levels, including higher education and
not only talent acquisition.”

Lloyd Wahed
CEO and founder
Mana Search

Fintech Trends for 2022 25

Fintech firms and incumbents are using technologies such as cloud, blockchain, artificial intelligence
and machine learning, but there is often a lack of skilled employees within these organisations that truly
understand how to leverage them. Finding and onboarding experienced fintech software developers is
insanely difficult for CTOs. When you are looking to build a minimum viable product (MVP), talent acquisition
can soon become your most pressing challenge.

Partnering with an extended team to work on your is the separation of tasks and the efficiency gains
architecture and backend services while your in- we derive from it. By focussing on what you’re good
house team does the frontend and UI/UX can improve at and getting someone else to do the other bits,
your working capacity. This can achieve faster time everybody can play to their strengths and bring new
to market by developing and launching products propositions to life or launch a new product faster
quickly. As Nucoro’s Nikolai Hack explains: “Faster than otherwise possible.”
innovation. A core principle of the modern economy

“To be in the race to digitalisation, there’s little point in banks

starting to build in-house solutions. Partnering circumvents
the limitations of both these options as banks can gain a
depth of specialism, expertise and innovation that they lack
internally in a short time frame.”
Nikolai Hack
Head of Strategy
at Nucoro

Fintech Trends for 2022 26

Security and Resilience
as Fintech Priorities

With a lot more business activity online, the threat of a potential cyberattack causing
worldwide panic and loss of confidence in the financial system is at the top of any business
leader or CTO’s agenda. The next grey swan event (predictable but unlikely) might be such
an attack. Such an event would cause grievous losses and severely harm public trust in
financial institutions.

Financial institutions possess a wealth of information about their customers, including

personally identifiable information (PII), phone numbers, credit scores, addresses, social
security numbers, credit card numbers, birthdates and more. Therefore, customers are
investing substantial levels of trust that their data is safe.

“Having a culture where security is everyone’s responsibility,

not just a select few people, means embedding security
best practice in the products we build, the processes we
develop, and the procedures for detection and escalation. We
conduct robust, regular penetration testing, and act on it.”
Michael Ashford
CTO at Wealthify

We spoke to Michael Ashford, CTO at Wealthify, the

leading online investment service: “Trust is paramount
in fintech — customers trust us with their money and
keeping their account secure. Therefore, risks such as
account take over, fraud, hacking and data breaches
cannot be ignored.” Or as Jim Hart, Chief Security
Officer at Pollinate, the payments platform for small
businesses, puts it: “trust is hard to build but easy to
lose with one security breach.”

Fintech Trends for 2022 27

Data breaches have affected various financial “Security is not a one-off activity.
service providers including banks, loan providers, The lens over risk management
payment processing companies and credit reporting now exceeds the typical corporate
bureaus. Equifax experienced one of the biggest
boundary and now pushes deep into
data breaches of the century — it cost them nearly
the supply chain.”
$4 billion dollars!

Increased reliance on technology within financial

services and connectedness between different
parties means a heightened risk of operational
failures and security problems. We spoke with Carl
Nightingale, partner and member of the Global Digital
Trust and Cyber Security team at PA Consulting in
the UK. He explained: “Growth in the integration of Carl Nightingale
Global Digital Trust and Cyber
third-party applications and/or services, such as
Security team PA Consulting
payment gateways, rely on ‘trusted suppliers’ and
in line with refreshed regulation — now require
constant monitoring for risk.”

“For Fintechs, what’s really key is to

ensure getting the partnership right
in the B2B space and understanding
the responsibilities and compliance
of each partner in creating secure
products and experiences.”

Jim Hart
Chief Security Officer
Pollinate

Fintech Trends for 2022 28

A centralised network, typical of mainframes at Although the ideas of distributed computing are
incumbents, is exposed to a ‘single point of failure’ not new, their effective use is not straightforward
vulnerability. Should the central node break down for non-experts. The 2021 Architecture and Design
or become congested, then this will affect all the InfoQ Trends Report listed the topic of “correctly built
other nodes in the system. With decentralised and distributed systems” as only at the “early majority”
distributed networks, the failure of a single node stage of adoption, for instance, which is why you
should not significantly impact any other node. should consult with experts in this field.

“Leveraging the power of more processor cores

and scaling your application across multiple
servers is difficult and bug-prone to do in
other programming languages and platforms
and requires a higher number of engineers for
Lars Krantz
maintenance. With Elixir and it’s built-in support
CTO and Co-founder
Upptec
for distributed computing, this is a breeze that
doesn’t require additional maintenance or
engineers so they are able to spend more time
inventing innovative cutting-edge solutions.”

Fintech Trends for 2022 29

Leveraging Open Source Technology
Standing on the shoulders of giants

56%
% of open Technology (software or IT) 57%

source 48%
Telecom, communications or media 48%
technology
38%
sometimes Transportation and automotive
35%

or frequently 38%
Education 24%
contributing
30%
upstream Retail
44%

29%
Financial services 47%

26%
Manufactiuring and raw materials
27%

24%
Government
40%

23%
Healthcare 42%

Source: The New Stack 2019 2020

Open source projects are a great option that is growing It found that the main advantages are: higher-
in use for financial services and offer the chance to quality software and reduced cost of ownership
benefit from existing communities and battle-proven vs proprietary software options, no vendor lock-in,
technologies. A recent study was commissioned by access to knowledgeable, active communities to
the European Commission to analyse the economic innovate and share and enhanced security.
impact of Open Source Software and Hardware.

“We openly embrace open source technology. It enables true

innovation by allowing sophisticated exploration of new ideas
without any financial overheads. Open source products are
able to naturally follow the direction of innovation through
their enthusiastic community support.”
Pascal Jerome
Head of Data Innovation
Pollinate

We spoke with Valentin Rothberg Principal Engineer at Red Hat: “Building on top of open source has proven to
allow focusing on the real business value without having to deal with the entire complexity of today’s operating
systems stack.” We also grabbed a word with Daniel Pilon, Engineering Manager at the fast-growing fintech
SumUp, who highlighted: “The speed that companies are now able to deliver new technologies without the
burden of having to reinvent the wheel or pay a huge amount for proprietary software is one of the foundations
for such a transformation.”

Fintech Trends for 2022 30

 “It makes sense to collaborate on common problems that do not
have a business value on their own. Working on open standards
further guarantees backwards compatibility, increases
interoperability and lowers
the risk of vendor lock-in.”
Valentin Rothberg
Principal Engineer
at Red Hat

The Fintech Open Source Foundation’s “2021 State using open source tech, you should engage with
of Open Source in Financial Services Survey”, specialist partners experienced in the area.
found that: “despite open source adoption in
financial services being widespread, there is a huge The Erlang and Elixir ecosystem is especially strong and
opportunity to leverage it to make gains in efficiency well established, with the technologies found in some
and innovation.” There are also some shortcomings of the biggest systems in the world from WhatsApp
of which to be aware, such as implementation and to Cisco. As Daniel Pilon from the fintech firm SumUp
usability issues where, for example, software may says: “the power and synergy of the Elixir community
not be personalised for the specific use case. To are impressive as there’s always somewhere one can
mitigate this and other general concerns about reach out in order to seek help or contribute.”

“In the Elixir community, contribution

to open source is just an organic
aspect. When I started my journey, the
community was something that really
caught my attention. The energy and the
Daniel Pilon willingness to help each other was way
Engineering Manager advanced when compared to my days
at SumUp
with .NET or Java.”

“We have a long-term collaboration

with Erlang Solutions and they are
our preferred partner since they are Let’s start a
the driving force in the Erlang/Elixir conversation about
community and they give us access
to world-class technical skills and how your project can
knowledge.” benefit from the power
of the Erlang and Elixir
programming languages

Find out more

Jens Lundberg
Head of Development Kivra

Fintech Trends for 2022 31

Conclusion
We hope that this report has helped to shed some light on where
things are heading in fintech. The aim was to close the knowledge
gap between business and tech functions because, in successful
fintech firms and incumbents, the silos have been broken down
through a shared understanding of technology. This is important
as software engineering has become the core of value creation
in many companies, and the methods used to build software can
significantly influence business results.

For leaders to have a greater understanding of and relationship

with technology doesn’t mean they need to know how to code, but
they do need to be able to have meaningful conversations about
technology to make good decisions.

The pandemic has shown that disruptions can happen at any time,
and even the best-prepared institutions are unable to predict them.
Preparation does, however, yield greater resilience, and we see this
along with security, flexibility and faster speed-to-market as the
gateway to greater innovation and improved scale and growth. It
is clear that system design and technical infrastructure are vital as
the foundations to succeed in the space.

Of course, some problems will occur no matter what choices you

make around programming languages and your tech stack. The
aim is to use ways of working which can help reduce the number
of issues experienced and their severity.

At the end of the day, technology is a means to an end. Where tech

choices drive a solution instead of the other way around, problems
will arise. This is where working with a partner with experience
in dealing with many different types of systems in the industry
can be a major competitive advantage to help inform on the right
architectural decisions and choices of technologies from the
outset of new projects.

We work with clients, from global payments giants to bootstrapped

startups, and know that individual projects need a tailored approach
to be a success. We have deep domain knowledge of building
resilient, fault-tolerant, distributed systems and have seen firsthand
how the technologies we specialise in can propel massive growth
in the fintech sector with the likes of Klarna, Brex and Vocalink.

Fintech Trends for 2022 32

Erlang and Elixir – The Right Tools
for Building Fintech Systems
Erlang is a programming language designed to build tools for the job for many fintech use cases. Of course,
massively scalable, soft real-time and distributed there are many languages being used successfully
systems that require high availability. Elixir is a across financial services but, the big differentiator
programming language that runs on the BEAM virtual with Erlang and Elixir is that high availability, fault-
machine — the same VM as Erlang — and can be tolerance and scalability are built-in. This along with
adopted throughout the entire tech stack. Many powerful libraries and reduced lines of code makes
of the world’s largest banking, e-commerce and developers’ lives easier and allows them the freedom
fintech companies depend on these technologies to concentrate on rapid prototyping and getting to
to power their systems such as Klarna, SumUp and market before the opposition to deliver features to
SolarisBank. end-users.

As a programming language originally designed for If you have a fintech project you think we could help
the telecoms industry where fault-tolerance and with, please do not hesitate to get in touch to speak
reliability are essential, Erlang and Elixir are the right with one of our expert consultants.

Let’s speak about your project

Find out more

Contact Us
London | Stockholm | Krakow | Budapest | US remote

www.erlang-solutions.com general@erlang-solutions.com

Fintech Trends for 2022 33

Report Author
This report has been prepared by
Michael Jaiyeola, Fintech Marketing
Lead at Erlang Solutions.

If you would like to discuss

partnerships or collaboration
in the space around content and
events, you can contact him at
michael.jaiyeola@erlang-solutions.com

Michael Jaiyeola
Fintech Marketing Lead
at Erlang Solutions

Disclaimer
This document is intended for general informational purposes only and does not take into account the reader’s specific
circumstances. Erlang Solutions disclaims, to the fullest extent permitted by applicable law, any and all liability for the
accuracy and completeness of the information in this document and for any acts or omissions made based on such
information.

Fintech Trends for 2022 34

Acknowledgements
We would like to thank the following for their generous support and time in contributing to this report.

Francesco Cesarini Richard Turrin

Founder & Technical Director Best-selling fintech author
at Erlang Solutions

Philip Harrison Michael Berns

CCO for Fintech at Trifork Group Director for AI & FinTech,
PwC

Michael Jaiyeola Eran Stiller

Fintech Marketing Lead Lead Software Architect,
at Erlang Solutions badook

Louis Williams Bret King

Community Manager Author of
at Fintech Aliiance “The Rise in Technosocialism’’

Chris Skinner Dr. Efi Pylarinou

Author and Speaker Global Influencer,
The Finanser Fintech & Disruptive Tech

Genevieve Leveille Nikolai Hack

Principal Founder and CEO Head of Strategy at Nucoro
at AgriLedger

Dr. Jane Thomason Adrian Mountstephens

Thought Leader Fintech and Growing Payments &
Blockchain for social impact Banking Ecosystems at Equinix

Lord Holmes of Richmond MBE John Samuel

Head of Middleware Technologies
at Erlang Solutions

Jeremy K. Balkin Márton Veres

Global Head of Inn & Corp. Develoment, Technical Project Manager
J.P. Morgan Payments at Erlang Solutions

Jim Marous Lloyd Wahed

Global Speaker, Podcast Host and CEO and founder
Co-Publisher at The Financial Brand at Mana Search

Scott Abrahams Daniel Pilon

SVP Business Development Engineering Manager
and Fintech at Mastercard at SumUp

Eske Gerup Pascal Jerome

Co-founder at ComplyTeq Head of Data Innovation
at Pollinate

Dr. Natalia Chechina Jens Lundberg

Consultant Developer Head of Development at Kivra
at Erlang Solutions

Priya Guliani Carl Nightingale

UK President, Government Blockchain Partner and member
Association (GBA) PA Consulting

Panagiotis Kriaris Michael Ashford

Head of Business Development CTO at Wealthify
at Unzer

Lex Sokolin Jim Hart

Global Fintech Co-Head Chief Security Officer
and Head Economist Consensys at Pollinate

Keith Bear Lars Krantz

Fellow at University of Cambridge’s CTO and co-founder of Upptec
Centre for Alternative Finance

Robert Courtneidge Paolo Sorini

Payments Industry Expert Banking IBM Consulting, Bestselling Author
“Banks and Fintech on Plform Economies”

Fintech Trends for 2022 35