Financial technology (or FinTech) makes the world go round. The term itself may be a recent invention, but the principle that it stands for—which is to innovate the delivery of financial services—has actually been in existence for at least 100 years.

According to our friends at Carsurance, FinTech was born when the Fedwire Fund Service was introduced in 1918. It was the world’s first electronic fund transfer system based on now-obsolete technologies like the Morse code.

More than a century later, most of the world transacts are conducted digitally through the internet. In the coming years, early FinTech-adopting countries are projected to become cashless societies, which is a fascinating thought considering how dependent we’ve been on tangible assets.

The influence of FinTech extends beyond fund transfers. Newer innovations are increasingly rendering older financial methods irrelevant, proving that the future of this tech space is as interesting as its past.

Below are some of the FinTech trends set to happen in 2019.

Artificial Intelligence Will Be More Pervasive

Many people are excited about the potential of blockchain and cryptocurrency, but these technologies still have many unresolved issues to become widely accepted soon.

What’s going to gain broader adoption in the year ahead is artificial intelligence (AI) and its subset machine learning.

A good case in point is the crucial role AI is expected to play in debt settlement. Debt relief companies can use it to develop win-win solutions that can free as many cash-strapped individuals from burdensome financial obligations as possible.

But then again, AI is dangerously prone to misuse. When applied incorrectly, it can do more harm than good. Although the shortage of qualified talents remains a pandemic challenge, outsourcing AI processes is one of the better alternatives to hiring potentially incompetent professionals.

Smaller Banking Players Will Take Their Turn

Naturally, established financial institutions have adopted cutting-edge FinTech solutions earlier than credit unions and community banks because they have more resources at disposal.

In 2019, however, smaller players in the banking industry will become more aggressive when it comes to developing new products and operational efficiency methods. More collaborations with FinTech firms will accelerate innovation and adoption.

Data Breaches Will Be Less Common

Data security has always been a concern, and it will continue to be so for a while. However, 2019 will see stronger measures to combat fraud.

Authentication tools for validation and text-messaging policies for transaction authorization will help decrease identity theft and other fraudulent activities significantly.

Will these predictions truly become real in the coming months? Check out the infographic below to look into the past to anticipate how the future may unfold.

Infographic Source:

Tony Arevalo is the Co-founder of, a thorough car insurance review site. During his years in the property and car insurance industry he has worked with hundreds of clients, and has developed in-depth knowledge of what they want and what’s best for them. He also possesses professional experience in the finance sector, specifically in risk analysis and portfolio management. Outside of work, he is the father to two incredible children, Vincent and León!