Everest Business Funding predicts digitization will be at the forefront of the finance industry for 2022, but digital assets, self-service, and regaining consumer trust will be equally significant.
DORAL, FL, Dec. 02, 2021 (GLOBE NEWSWIRE) -- As the 2021 fiscal year-end approaches, Everest Business Funding is now making predictions and forecasts about trends in the finance industry for the upcoming 2022 calendar year.
One area bound to see growth in the upcoming fiscal year is digital financing. More consumers are eager to get online-only finance management because it offers convenience and lower fees than traditional brick-and-mortar institutions. Digital financing also allows for peer-to-peer money transfers as well as cryptocurrency transactions.
Along with digital financing, artificial intelligence in the finance industry is growing at a steady rate. This technology allows to create a personalized experience for customers, preventing fraud and cyberattacks. AI is likely here to stay for the 2022 calendar year and beyond.
Financial education for the younger generations is more important than ever before. Many customers say they would be more willing to visit a branch if offered a financial education program. The financial industry needs to take hold of this trend and start educating the upcoming generations about money management.
When it comes to making payments, the finance industry needs to continue offering flexibility to consumers. Most people have made the switch to online purchases and payment methods. This means shifting to contactless payment and mobile wallets and using more identity verification tech.
Along with the digitization in the finance industry, digital assets will continue to grow in popularity. From cryptocurrency to NFTs, these digital assets are making their mark on the world. Investors must educate themselves on what these items are and how they function. Fund managers need to start bundling them into various funds for investors to diversify their portfolios with this steadily growing trend.
Today, customers are more interested in self-service than a teller’s personalized attention. Financial institutions need to capitalize on this trend by allowing customers to make their transactions at their leisure. This means integrating user-friendly mobile apps and additional service options at the ATM. Extended customer service hours may also be an essential part of helping consumers get the service they desire.
Society faced a lot of uncertainty in 2021. The finance industry must work to regain consumer trust in 2022. They can do so by focusing on cybersecurity and many of the other forecasted trends they are likely to see in the upcoming calendar year. Providing a quality experience for customers should be paramount.
About Everest Business Funding
Everest Business Funding has financed thousands of businesses over the years. Their focus is on providing alternative finance solutions and revenue-based funding to small businesses across various sectors, from retail to trade to food and beverage. They pride themselves on offering unique programs tailored to the individual needs of each company and industry.
Name: Anthony Parker
Organization: Everest Business Funding
Address: 5 West 37th Street, Suite 1100
New York, New York 10018