{"id":603231,"date":"2024-01-02T15:00:20","date_gmt":"2024-01-02T12:00:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-european-fintech-has-in-store-for-2024\/"},"modified":"2024-01-02T15:00:20","modified_gmt":"2024-01-02T12:00:20","slug":"what-european-fintech-has-in-store-for-2024","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/","title":{"rendered":"#What European fintech has in store for 2024"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e7680768c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e7680768c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/#Few_new_startups_but_regtech_will_go_%E2%80%9Cthrough_the_roof%E2%80%9D\" >Few new startups but regtech will go \u201cthrough the roof\u201d \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/#Keeping_an_eye_on_tokenization\" >Keeping an eye on tokenization\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/#If_companies_cant_tackle_talent%E2%80%A6\" >If companies can\u2019t tackle talent\u2026 \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/#AI_expectations_will_%E2%80%9Ccome_down_to_earth%E2%80%9D\" >AI expectations will \u201ccome down to earth\u201d \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-european-fintech-has-in-store-for-2024\/#Funding_will_go_to_B2B_supporting_the_business_community\" >Funding will go to B2B supporting the business community<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"article-main-content\">\n                            <span style=\"font-weight: 400;\">This year was challenging for the financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, or fintech, sector. Interest rates rose and funding fell, continuing the shift in focus from growth to profitability.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But what does 2024 have in store? Will AI revolutionise the industry? Will funding pick up? What sectors will thrive? What\u2019s the outlook for the Dutch market?\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We spoke to five experts on what to look out for in 2024.\u00a0\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Few_new_startups_but_regtech_will_go_%E2%80%9Cthrough_the_roof%E2%80%9D\"><\/span><b>Few new startups but regtech will go \u201cthrough the roof\u201d <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Don Ginsel is the CEO and Founder of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hollandfintech.com\/\">Holland FinTech<\/a>, an independent ecosystem connecting people and organisations in the financial value chain.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cGenerative AI was the story of 2023 but it wasn\u2019t the action of the year. It had limited impact on fintech and on actual business processes. In 2024, we\u2019ll see some first use cases for generative AI. In the coming years we\u2019ll also see the impact of the AI Act, and how companies comply with that.\u00a0<\/span><\/p>\n<div class=\"inarticle-wrapper latest channel-cta hs-embed-tnw\">\n<div id=\"hs-embed-tnw\" class=\"channel-cta-wrapper\">\n<div class=\"channel-cta-img\"><img decoding=\"async\" class=\"js-lazy\" src=\"https:\/\/s3.amazonaws.com\/events.tnw\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/div>\n<p><noscript><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/events.tnw\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/noscript><\/p>\n<div class=\"channel-cta-input\">\n<p class=\"channel-cta-title\">The &lt;3 of EU tech<\/p>\n<p class=\"channel-cta-tagline\">The latest rumblings from the EU tech scene, a story from our wise ol&#8217; founder Boris, and some questionable AI art. It&#8217;s free, every week, in your inbox. Sign up now!<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-weight: 400;\">This compliance part is also a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a>, as many companies are busy complying with regulations, avoiding risks, and that means many ventures will not be undertaken. Next year I expect very few new fintech startups because of legislation, limited capital, and low unemployment. But on the other side of things, I think regtech [regulatory technology] will go through the roof, due to regulatory requirements.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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. I do, though, hope that banks become more open minded and ready to work with various parties in the market to create a more vivid ecosystem.\u201d\u00a0 <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Keeping_an_eye_on_tokenization\"><\/span><b>Keeping an eye on tokenization\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Jason Mikula is the publisher of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fintechbusinessweekly.substack.com\/\">Fintech Business Weekly<\/a>, which provides in-depth analysis on trends and stories in banking, fintech, and crypto.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s borderline cliche to say at this point, but the return of financial discipline was overdue and is washing out unsustainable business models that were dependent on cheap capital. A positive side effect of layoffs is freeing up high-calibre talent that can be re-allocated to more productive enterprises or to new startup formation.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As far as specific themes for 2024, I\u2019m keeping an eye on \u201ctokenization,\u201d the latest incarnation of crypto, as well as the topic on everyone\u2019s mind: AI. While AI tech in banking and financial services isn\u2019t new, the latest generation of generativeAI does offer truly novel capabilities, which pose both opportunities and risks for financial institutions.\u201d\u00a0\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"If_companies_cant_tackle_talent%E2%80%A6\"><\/span><b>If companies can\u2019t tackle talent\u2026 <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Angelique Schouten is the founder of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/10x.team\/\">10x.Team<\/a>, a members-only fractional and leadership platform. She sees 2024 as a year where fintech company leaders and startup founders will need to ask themselves \u201cexistential questions\u201d around talent.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cDespite the AI push, there weren\u2019t any groundbreaking developments and\/or solutions moving the needle. I hope 2024 is the year fintech begins to move from third-class Saturday football to Champions League level, and really kickstart a transformational change. Not only with AI, but also how we run and build businesses.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the talent crunch on top of funding normalising, executives and founders face existential questions: How can I organise my business to reach and play at Champions League-level? 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?\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span><\/p>\n<blockquote class=\"c-richText__pullQuote\">\n<div class=\"c-richText__pullQuoteGradient\">\n<p class=\"c-richText__pullQuoteQuote\">If companies can\u2019t tackle the talent part, which is a mindset shift, they can\u2019t move to the type of transformation that will better serve society for the next 20 years.\n            <\/div>\n<\/blockquote>\n<p><\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Skill-based hiring, having people who proactively think about how they can extract value and better support businesses and consumers\u2019 financial health, will decide whether or not they win the cup.\u201d\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"AI_expectations_will_%E2%80%9Ccome_down_to_earth%E2%80%9D\"><\/span><b>AI expectations will \u201ccome down to earth\u201d <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Jeroen de Bel is the founder of fintech consultancy group <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fincog.nl\/\">Fincog<\/a>. He believes that 2024 will remain difficult for the sector \u2014 and that the realisation will dawn that AI is not an answer to everything.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe industry has gone from hype to hype, the most recent of which is AI. Just a few years ago, we were trying to help AI startups raise money and very few investors saw value in it. Now that it\u2019s been made tangible by OpenAI, the hype has started.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2024 may be the year expectations come back down to earth and the market realises that it\u2019s not an answer to everything. As we begin to understand its strengths and weaknesses, we can develop a more nuanced view of its potential for tangible fintech solutions. In the Netherlands, it will also be difficult for fintechs.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, I expect payments to continue to be strong. Backend, middle layer, and core digital transformation solutions that service incumbent financial institutions like asset and wealth managers and banks, will also remain robust.\u201d\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Funding_will_go_to_B2B_supporting_the_business_community\"><\/span><b>Funding will go to B2B supporting the business community<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Conny Dorrestijn is a trusted fintech advisor and Non-Executive Director at UK listed fintech VC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/augmentum.vc\/\">Augmentum<\/a>. He sees a new norm for fintech investment that will be adapting to changing market conditions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis requires prudent and patient investing which, while not very thrilling, in the end will pay off for investors, founders, their teams, and their customers. The market is still out there, in fact it grows every year as costs rise and going digital becomes truly inevitable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many incumbents have tried and failed to innovate on their own. Direct investments are often hard to manage for the same, cultural, reason. But increasingly, M&amp;A and partnerships with skillful onboarding, as in vendor-style relationships, are a great way forward for both the incumbent player and a solid \u2018learn and grow\u2019 strategy for young fintechs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, I\u2019m stubbornly hanging on to my view that anything B2B supporting the business community and increasing efficiency or decision-making with right-sized (AI) tools and building alternative payment rails is super relevant and attractive<\/span> <span style=\"font-weight: 400;\">in 2024.\u201d\u00a0\u00a0<\/span>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/european-fintech-2024\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.\u00a0\u00a0 But what does 2024 have in store? Will AI revolutionise the industry? Will funding pick up? What sectors will thrive? What\u2019s the outlook for the Dutch market?\u00a0\u00a0 We spoke&#8230;<\/p>\n","protected":false},"author":1,"featured_media":603232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/12\/fintech2024-e1703252042653.jpg&signature=19ccf4e7715ba54f25ad5106146b2618","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-603231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/603231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=603231"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/603231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/603232"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=603231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=603231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=603231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}