14 Dec 2021
5 mins read

2022 fintech trends to watch

Team Discuss Fintech Trends
Quick summary

It's funny how often we're asked about the upcoming trends for 2022. Will digital transformation still be massive? What's going to happen with global payments etc.? We don't know exactly; it's not like we have a crystal ball in the office, and it wouldn't be very digital and data-driven if we did. Instead, we speak to lots of peers and stakeholders about trends and industry shifts, and we've summarized just a few in this article.

A couple of weeks ago, we wrote a blog on the fintech trends of 2021. Many of these are worth mentioning again, as trends such as BNPL and AI will continue to be important in 2022.

Cross border payments

Numbers never lie. The Bank of England predicts that by 2027 the total global cross border payments will hit US$250 trillion, with B2B payments making up the largest share. The rise in cross border payments is primarily due to the increase in ecommerce, investment, and trade. However, these transactions are still costly, slow and inefficient.So, why are cross border transactions so clunky? It's very simple; cross border transactions exist mainly in obsolete systems, with different data in each of the jurisdictions, and a low level of competition in the field, among other reasons. In 2020 the G20 promised to focus on making these transactions more effective and to set up a plan and roadmap engaging with many stakeholders. Central banks will need to improve their payment systems within this plan, while new actors in the private sector will have to adapt to them. Hopefully, by 2022 we'll see this plan in action and ultimately the transformation of cross border payment systems.

CFO guide: How to demonstrate robust cash flow control

Banks into tech and blockchain

Legacy banks will invest a lot of money in innovation in the next year. As Forrester mentions in this article, the banking industry is likely to complete a double-digit spend in technology, hire top engineers, and buy or invest in other fintech, with the US and China leading the trend.Blockchain is another major topic for financial institutions, as it looks set to enable faster and more secure transactions. This technology adoption is in the early stages, and central banks like China are slowly embracing digital currencies. We’ll hear a lot about blockchain in 2022 and the years to come. The Europe Business Review even mentions that 66% of banks expect blockchain solutions in production within the next three years.


Cash is no longer king. Card transactions have surpassed cash in countries like Germany for the first time. We've talked about how cashless economies aren't a thing of the future anymore; they're happening right now. Consumers and companies are digitizing all their payments, so everything is tracked, transparent, and simple to manage. Check out our ebook to read more about how your business can become cashless.


Banks and wealth management firms have seen their relatively uniform market challenged by new wealthtech actors, particularly since 2017. Wealthtech advances are many and have included robo-advisors, digital brokers, robo-retirements, new investment tools, and, the most trendy of all, non-fungible token (NFTs). Wealthtech also includes online banking, so it's worth mentioning the recent IPO of Nubank, Latin America's most valuable financial company.Helped by the pandemic, funding in wealthtech reached more than US$20B in 2021. It went mainstream, too, as younger generations discovered it via new finance and investing apps. The great democratization of trading, as an example, has had a tremendous impact on the sector, and in 2022 we will see it grow further. In particular, platforms such as Robinhood will enable armchair traders to impact entire market segments.

Cybersecurity and RegTech

The digital transformation of companies and financial services has many benefits, but there are drawbacks. Cyber attacks can cause significant issues in our digital age. And, many fintech companies will have the kind of data that hackers really want to get their hands on, like monetary transactions and personal information. Therefore, the fintech industry relies on cybersecurity more than any other. In 2022, we'll see a record-high investment in fintech cybersecurity, most probably impulsed by mergers and acquisitions.The RegTech sector, in particular, is likely to experience significant investment in 2022. Here, companies improve data protection and cybersecurity by combining technology and local regulations. The sector also provides services such as hybrid cloud computing, cryptography, cloud security, mobile security, advanced authentication, and biometrics. By using this kind of technology, regulators have more modern and accurate tools to prevent fraudulent behaviours and AML. Fintech companies also benefit from these solutions during their KYC process, allowing them to have faster and easier customer onboarding.

Payroll fintechs

The highest cost of companies, salaries, are still slow, cumbersome and non-transparent. But payroll fintechs are coming to catch us up this new year, with companies like PayActive, BitPay and Deel, and others. The top benefits of using payroll software include salary advances, real-time payments, and crypto payments. We're slowly watching fintech become part of every department within an organization as it helps to digitize incumbent processes. This idea is very close to our ethos. In our all-in-one finance tool, you can carry out bill management, one-click payments with SEPA and Instant Payments, and look after employee reimbursements.Ready to discuss the benefits of managing your business payments, expenses, and reimbursements all in one place? Book a demo with us and find out how much time your business could save.

Raquel Orejas - Product Marketing Manager at Payhawk, a Spend Management solution
Raquel Orejas
Product Marketing Manager

An integral part of Payhawk's inception, Raquel has seamlessly transitioned through various roles, beginning in sales and pioneering the customer success team. Her journey continued into content and product marketing, where she now excels as a Product Marketing Manager. Despite managing two maternity leaves, Raquel's vibrant spirit thrives outdoors, embracing activities like hiking, cycling, global travel, and creating cherished moments with her two children.

See all articles by Raquel →
16 Jul 2024


16 Jul 2024


16 Jul 2024