Five key fintech trends to watch in 2022 according to Buckzy Payments: In the year ahead, consumer behavior and early adoption of new technology are set to transform the financial services market. Banks need to adapt.

Martin Fitzgerald, [email protected]

TORONTO, Nov. 18, 2021 /PRNewswire/ -- Fintechs and banks are in a race to innovate and shape the future of financial services. As new technologies emerge, traditional banks will have to adapt quickly to provide their customers with what they expect, and this will lead to the emergence of new business models across the financial services sector. That's the view of Buckzy Payments, a leading real-time cross-border payments provider and global financial services marketplace.

Abdul Naushad, President and CEO, Buckzy stated: "The ongoing uptake by consumers of new ways to access and use financial services requires a complete rethink from traditional financial providers. Consumers are driving change on an unprecedented scale because of new technology and broader societal trends.

"It goes without saying that the pandemic has changed the way we live, work and buy. This in turn is impacting traditional banks and fintechs alike, who need to identify new solutions to deliver competitive advantage. We see five core trends driving that change as we move into 2022 and beyond."

1. Rise of Digital/Neo banks: Banking has traditionally been a monopoly with high barriers to market entry. But the relaxation of regulations in countries around the world has paved the way for neobanks to take the initiative and attract customers with the promise of lower fees, convenient mobile banking and improved customer experience that removes in-store banking. That's why the neobank sector was...