In an industry which is known to be slow to adapt to current digital trends, it feels like financial technology or more commonly known as fintech, is experiencing a renaissance lately.
Fintech startups are emerging from around the world. In a previous post, we listed some from Germany worth keeping an eye on. But that only provides a snapshot of what’s happening globally and what solutions are being developed. Technologies such as blockchain, machine learning, and artificial intelligence are being used to build products that improve the customer experience for financial services.
While all of this sounds great, behind the scenes there’s a number of unique challenges when starting up. Here, we take a look at what they are based on our experience working in fintech.