This year was challenging for the financial technology, or fintech, sector.
Interest rates rose and funding fell, continuing the shift in focus from growth to profitability.
But what does 2024 have in store?
Will AI revolutionise the industry?
What sectors will thrive?
Whats the outlook for the Dutch market?
We spoke to five experts on what to look out for in 2024.
It’s free, every week, in your inbox.
Generative AI was the story of 2023 but it wasnt the action of the year.
It had limited impact onfintechand on actual business processes.
In 2024, well see some first use cases for generative AI.
Next year I expect very few new fintechstartupsbecause of legislation, limited capital, and low unemployment.
Venture capital investment will pick up later in the year.
For the Netherlands specifically, the environment will also remain tough for fintech, especially around talent.
Despite the AI push, there werent any groundbreaking developments and/or solutions moving the needle.
Not only with AI, but also how we run and build businesses.
How can we truly embed diversity in thinking?
How can we better work with colleagues who have different career expectations, and build the best team?
AI expectations will come down to earth
Jeroen de Bel is the founder of fintech consultancy groupFincog.
The industry has gone from hype to hype, the most recent of which is AI.
Now that its been made tangible by OpenAI, the hype has started.
In the Netherlands, it will also be difficult for fintechs.
However, I expect payments to continue to be strong.
She sees a new norm for fintech investment that will be adapting to changing market conditions.
Many incumbents have tried and failed to innovate on their own.
Direct investments are often hard to manage for the same, cultural, reason.
Their favourite topics are asset and wealth management tech, payments, and sometimes even core banking.
They currently work for Cognito, a global, full-service communications and PR agency.
