Welcome to part 2 of our deep dive into the fintech trends shaping 2024. In our previous installment, we explored the current state of fintech and delved into key areas such as AI in finance, embedded finance, digital payments, personal financial management, and the buy now, pay later phenomenon.

Now we’re diving into four more trends (and some regulatory changes) that are reshaping the financial world.

Join us as we uncover how these developments are driving innovation and creating a more decentralized, accessible, and tech-savvy financial landscape.

Peer-to-peer lending

Peer-to-peer (P2P) lending, also known as crowd lending or social lending, is a financial practice that allows individuals and businesses to directly borrow and lend money without the involvement of traditional financial institutions such as banks. This is enabled through online platforms that match lenders with borrowers.

For borrowers, P2P lending often provides lower interest rates compared to traditional banks and offers access to loans for people who may not qualify for conventional financing.

And with P2P lending, lenders can earn higher returns on their investments compared to traditional savings accounts or fixed-income products.