For over eight years, I’ve been working in the IT business on fintech projects, witnessing firsthand how fintech has evolved from a niche innovation into an essential part of how we manage money and access financial services. It’s been inspiring to see how technology and customer-focused design have reshaped the financial landscape, making it more accessible and aligned with real human needs. In this article, I want to share insights into fintech’s journey – and explore what the future holds.
From revolution to everyday life: how fintech changed the rules of the game
Since the early 2010s, fintech has revolutionized financial services by integrating modern technology to enable fully remote customer experiences. At intive, with over 25 years of delivering tailored fintech solutions, we have been part of this transformation. Together with our clients we have built platforms that have made remote KYC verification (using selfies and ID photos) a reality, allowing customers to access financial products without visiting branches. Alongside remote payments and seamless digital transactions, we have been supporting fintechs in embracing the truly user-centric approach, featuring flexible and intuitive UX and UI design.
The COVID-19 pandemic has accelerated the adoption of these technologies, when even traditional banks have begun integrating fintech innovations to expand and simplify their operations. Despite challenges such as security concerns and complex regulations, fintech solutions have become standard in developed markets, for both startups and established financial giants. Our experience at intive has shown that blending technical excellence with customer-centric design has been key to this process.
New markets, new opportunities – the expansion of fintech into emerging markets
While developed markets have largely standardized fintech solutions, I see that emerging markets – particularly in Africa and parts of Asia – present unique opportunities. These regions often have limited infrastructure but benefit from the ability to build solutions from the ground up, leveraging the latest technologies without legacy constraints. Security, regulatory compliance, and transaction safety remain paramount concerns for those regions – and fintechs try to respond accordingly.
For example, in Africa, mobile money platforms like M-Pesa enable users to make payments via SMS on basic phones without internet access. Currently it is a crucial service for millions in Kenya, Tanzania, Uganda, and Ghana. It provides financial inclusion for those previously excluded from traditional banking, especially women in rural areas, allowing them to make independent financial decisions.
Another similar example is BIMA – an insuretech company that offers micro health insurance paid through GSM operators, making insurance accessible to underserved populations cross Africa, Asia, and Latin America.
Solutions like Paycode and Smile ID address the identity verification problem – which is often complicated in Africa due to the lack of formal ID documents. These solutions use biometric authentication methods such as fingerprint scanning, facial recognition, and iris scanning to enable secure remote onboarding.
Credit scoring (another challenge in regions with limited financial histories) has been innovatively tackled by companies like Tala, Branch, and Jumo. These fintechs use alternative data from mobile phones – such as recharge history, geolocation, and contact lists – to build credit profiles and extend financial products to previously unbanked populations.
While these solutions may not be directly transferable to developed markets, they highlight an important principle: the industry adapts to the specific opportunities and limitations of each region, with the universal goal of providing customers access to financial services.
What’s next? Fintech close to real needs
Today, fintech customers have access to a broad array of financial products – so what else can be offered? From my point of view, the key is to focus more on their life goals and needs. Fintech’s role should evolve to support these goals by aligning financial services accordingly. For example:
- Education: Apps that help plan and finance kids’ education, leveraging early savings or credit options.
- Eco-friendly investments: Green banks that support sustainable projects and environmentally conscious financial products.
- Health: Health wallets designed to manage healthcare expenses and insurance efficiently.
- Agriculture: Tools for farmers coupled with financing solutions tailored to their needs.
- Community: Social lending platforms or apps that empower communities to launch socially responsible initiatives.
Looking ahead, I expect no major technological revolutions in fintech in the near term – except for the transformative potential of artificial intelligence (AI). While features like voice banking and gamification currently serve as enhancements rather than game-changers, AI promises to revolutionize financial services. It promises advanced data insights, personalized service delivery, and intelligent recommendations tailored to individual customer needs. Of course, this outlook could shift significantly if a broader tech revolution takes place – similar to the past introduction of mobile phones with global internet access, which reshaped the entire landscape.
At intive, we bring deep expertise across generative AI & AI agents, machine learning and data science enabling us to deliver cutting-edge AI solutions that transform financial services. In working on AI projects, we have recognized that many companies struggle to uncover and prioritize the most valuable use cases for generative AI. To address this challenge, we have developed our four-week AI Sprint – a focused process that helps clients identify a clearly defined use case, validate a working prototype, and create a clear plan for implementation and rollout within just one month.
In essence, fintech’s future likely lies in enabling customers to focus on their goals while providing the financial means to achieve them – with AI playing a central role in delivering personalized and intelligent financial experiences.
Technology that works: real implementations and successes
At intive, we already work on delivering fintech solutions that not only innovate but also address real customer needs and drive social impact. Our long-term collaboration with UK's Tandem Bank, known as the "Good Green Bank," exemplifies this approach. Together, we have worked on selecting and integrating cutting-edge services to build a scalable, modern banking platform hosted on AWS. Tandem Bank provides a range of eco-friendly products and services aimed at supporting customers who want to live more sustainably and lower their carbon footprint. Offerings include green home improvement loans, financing for electric vehicles, discounted mortgages for energy-efficient homes, and a savings account dedicated to green investments.
Also Mosaic, a leading U.S. sustainable home improvement financing company, partnered with us to modernize its operations platform and better support clean energy adoption. We helped them shift from a legacy monolith to a secure, scalable microservices architecture. We also enhanced their public API, making it easier for solar installers and contractors to assist homeowners with financing options and enabling seamless integration with partners.
Another impactful example is our cooperation with Pockit, a fintech dedicated to supporting people traditionally excluded from mainstream banking. Pockit’s prepaid card and digital account solution addressed a critical issue in England: nearly 8 million people were excluded from banking services in 2016. intive have helped them develop a user-friendly product built on scalable Azure cloud infrastructure, that have enabled thousands of low-income customers to gain free access to banking and start building their credit scores. This collaboration highlights how fintech can spearhead social change by promoting financial inclusion and empowering underserved communities.
Conclusion
The solutions I’ve mentioned in this article offer just a glimpse of how fintechs are reshaping our lives. The industry has evolved from a disruptive technological revolution into an accessible, customer-centric force that breaks down barriers and creates new opportunities.
Today, fintech isn’t about technology for its own sake – it’s about real people, their needs, and providing seamless access to financial services that empower them to live better. If you’re aiming to build (or already developing) a service like this, reach out to us. We’re always ready to support you with our deep domain knowledge, technical expertise, agile methodology, and design-centric mindset.
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