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FinTech Trends 2022

FinTech's inception in the 2000s and its modest but steady growth hinted at the industry's potential. However, with COVID-19 bringing the entire world to a halt in 2020, humanity was forced to conduct their daily business online using a computer. FinTech shone brightest during the lockdown and work-from-home era when no one was allowed to leave, but finances being an inescapable necessity, were excepted from this ban.

Now that COVID-19 has subsided, it is time to address the most pressing concerns about the FinTech and financial services sectors.

Which modifications aren't going away? What are the best practices for brick-and-mortar stores in the future? Which adjustments are unavoidable? What changes are expected in the industry? How can the momentum gained in the last two years be maintained as digital solutions become more integrated into day-to-day operations? What's the best way to balance security and consumer satisfaction?

Here are 10 Indian FinTech trends to watch out for in 2022.

Artificial Intelligence

Artificial Intelligence (AI) is perhaps the one common trend in all the markets. The recent leaps we've seen in terms of technology have undeniably been made possible through AI. The rise of AI-based FinTech startups is a testament to this statement.

The prevalence of Artificial Intelligence and Machine Learning in FinTech is because of their ability to evaluate real-time trends and help with speedy decision-making. It enables banks to handle vast amounts of data and draw conclusions, increasing their effectiveness and efficiency.

AI has made several operations in financial services time-saving and also cost-effective:

  1. In the banking industry, AI boosts staff productivity by 59 percent.

  2. It has decreased loan defaults and rendered transactions safer, all in the name of improving the customer experience.

  3. Improvements in fraud detection, customer care, credit service, and loan decision-making processes are the specialty of AI.


Today, both FinTechs and banks are making the most of the available alternatives. It is supported by the financial services industry's adoption of blockchain, a crypto-specific technology in the past.

Blockchain technology will ensure a very secure transaction on both ends, preventing fraud and ensuring that audits and regulatory standards are met with ease. Transactions and investing can become faster and more error-free with blockchain transactions. Analysts predict that in 2022 blockchain will have the most impact on the packaging industry. Without a doubt, blockchain technology can be termed as a permanent improvement that is not going away anytime soon.

“Digital-Only” Banking

We're talking about virtual banks, not just digital-only payments. The technology is already available, and there are numerous advantages to opting for the virtual world over the physical. Banking procedures are substantially more simple and straightforward and less prone to errors if a cloud-based infrastructure is in place. Cloud banking is the best option for seamless international payments, peer-to-peer transfers, and contactless transactions.

Cloud banking and free-floating financial platforms are already transforming the way people bank, and it's not difficult to imagine a day when much of the world's banking is done entirely online.

Platform as a Service (PaaS)

Platform as a service (PaaS) is a cloud computing concept in which consumers receive hardware and software resources via the internet from a third-party supplier. A PaaS provider hosts the hardware and software on its own infrastructure, thus eliminating the need for developers to install hardware and software on their own.

As the battle between convenience and security in FinTech is never-ending, responding to the changing rules of the financial services market, banks will have to create their APIs. The easiest way for this is help from PaaS, which provides customizable infrastructure allowing FinTechs and Banks to fully adopt cloud platforms. These services lay the groundwork for a variety of tasks, such as team collaboration, resource management, payment processing, and credit risk management.


If there's a slogan for fintech in 2022, it ought to be "collaboration."

In today's hyper-competitive market, it's easy to see how new creative financial services can clash with older established institutions. However, established banks and other financial institutions are paying close attention to the technological advancements brought to the table by FinTech startups, and one of the most significant emerging trends is a shift toward perceiving opportunities rather than competitors. Both old and new financial services will continue to collaborate to benefit each other in 2022 if they want the best for themselves.

Buy Now, Pay Later (BNPL)

With the surge in popularity of online shopping and the influx of new generations online, new payment solutions are being adopted at a faster rate than ever before. Consider buy-now, pay-later services, which allow customers to turn their homes into a "virtual fitting room," allowing them to try before they buy.

Buy Now, Pay Later (BNPL) is a form of short-term financing that allows individuals to buy things now and pay for them later, sometimes interest-free. BNPLs, occasionally called "point of sale installment loans," are becoming more common as a means of payment, particularly for online purchases.

Blend Services

It's no surprise that traditional banks are investing in fintech technologies at an exponential rate, given the demand for market liquidity and a greater emphasis on technology. RegTech and InsurTech, as well as dozens of other hybrids, have emerged in recent years to help traditional businesses upgrade their infrastructure and reduce long-term expenses. Fintech businesses will continue to consolidate and form strategic collaborations to gain a larger share of the industry.


Banking and financial services are vital and ever-changing businesses, so keep these seven FinTech trends in mind to get a jump on the business prospects that current digitization brings. They show where the industry is going and how forward-thinking financial institutions will adapt to meet expectations.

If you need help navigating the FinTech market or need FinTech solutions for your startup, go to

SynergyLabs is a cutting-edge technology consulting firm that specializes in the development of enterprise-grade financial startup solutions, including ready-to-deploy PODs. It is a well-funded startup that helps FinTech companies accelerate their growth by providing robust and scalable solutions. It was founded in 2017. Its services include banking, finance, and insurance, as well as logistics, retail, and telecommunications.

Send us an email at to discover more about what we can do for you if you're a FinTech startup or company looking to develop cutting-edge solutions.

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