Doubtless, 2022 was an exciting year for the financial industry, from the crypto market crash to new financial regulations and the rise of “Digital-Only” Banking.
The fintech industry is evolving with market trends to meet customers’ needs, business goals, and regulatory demands worldwide. In 2023 we expect to see robust technologies shaking the finance industry and enabling it to strengthen business propositions, enrich customer experiences and boost revenues.
Let’s examine the fintech trends that will dominate the industry this year and how they will shape businesses, UX, and government regulations worldwide.
1. Embedded Finance.
The ecosystem of embedded finance is enormous, and it is expected to grow significantly this year. Researchers estimate that the embedded payment industry will grow by 40.4% annually. 
With embedded finance, companies can offer complete offerings throughout a customer’s journey to increase customer satisfaction and business revenue. It covers financial services such as banking, credit, investment, payment processing, lending, or insurance. Think of an e-commerce merchant providing insurance in a seamless, convenient, easy-to-use customer journey.
Among all forms of embedded finance, buy now pay later (BNPL) is a notably growing sector. This payment option enables purchasers to buy now and pay for products later, usually by splitting the purchase sum into multiple installments.
Although traditional banks still dominate the business loans market, we expect Alt Finance to grow considerably with a CAGR of 6.3% between 2022 and 2028.
It’s projected that by 2026, BNPL will sum up to $576 billion worth of transactions worldwide. 
3. SaaS platforms.
SaaS solutions have completely revolutionized traditional software product licensing models. The global SaaS market is valued at over one hundred billion dollars and continues to grow significantly due to its popularity among SaaS providers and users.
Software as a Service (or SaaS) is a way to deliver software applications using the Internet, freeing businesses from complex software and hardware management and installation. The platforms provide a better customer experience and faster product delivery, resulting in increased customer and user satisfaction. Among all SaaS solutions, in 2023, we expect to see increasingly low-code or no-codesolutions, white-labeled SaaS, and micro-SaaS products.
The SaaS industry is expected to reach $623 billion, with an annual growth rate of 18%.
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